The Export-Import Bank of China continued to increase the supply of funds in the field of foreign trade, and issued loans exceeding 900 billion yuan in the first half of the year.

CCTV News:The reporter learned from The Export-Import Bank of China on July 24th that in the first half of this year, the Export-Import Bank played the role of policy-based finance as a short-board and inter-cycle adjustment, and continued to increase the supply of funds in the foreign trade field. In the first half of this year, the accumulated foreign trade industrial loans exceeded 900 billion yuan.

According to reports, in the first half of this year, the Export-Import Bank successively introduced a number of bail-out measures, continuously increased the supply of funds in the foreign trade field, reduced fees to benefit foreign trade enterprises seriously affected by the epidemic, gave SMEs deferred payment and non-repayment of loans, and innovatively designed a comprehensive product package to serve the development of new foreign trade formats and new models, constantly stimulating the vitality of market players and promoting the high-quality development of foreign trade.

By the end of June, the balance of foreign trade industrial loans of the Export-Import Bank was 2.68 trillion yuan, a year-on-year increase of 19%. In the first half of the year, foreign trade industrial loans totaled 920 billion yuan, a year-on-year increase of 22%.

In addition, by the end of June, the balance of local and foreign currency loans of the Export-Import Bank was nearly 5 trillion yuan, a year-on-year increase of over 10%. In the first half of the year, loans totaled 1.25 trillion yuan, a year-on-year increase of 14%.

Midea Group newly established an e-commerce company, including AI hardware sales business.

People’s Financial News On May 26th, Enterprise Search APP showed that Midea (Foshan Nanhai) E-Commerce Co., Ltd. was recently established with a registered capital of 10 million yuan, and its business scope includes: sales of smart home consumer equipment; Sales of semiconductor lighting devices; Artificial intelligence hardware sales; Household appliances installation services, etc. Enterprise investigation shows that the company is indirectly wholly-owned by Midea Group.

Big upgrade! IPhone 16 Pro camera is perfect


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According to the latest report released by Jibang Consulting, both iPhone 16 Pro and iPhone 16 Pro Max are equipped with quadruple reflecting prisms and support 5x optical zoom function. This feature has brought great convenience to users, because in the previous iPhone 15 Pro series, only the large-screen version of Pro Max supported this function. And this year there will be no more problems. It is worth mentioning that, …

Tesla started to push FSD v12.5.1, and the first update was this car.

Cybertruck first uses FSD v12.5.1

Phoenix Network Technology News On July 29th, Beijing time, Tesla has started to push the update of FSD (Fully Automated Driving System) v12.5.1 for selected models. This latest version promises major improvements, including the integration of urban and highway driving capabilities, which were previously separate.

Tesla started to push FSD v12.5.1, and the first update was this car.

FSD v12.5.1 will be updated by combining with Tesla on-board system 2024.20.15, marking a milestone in the development of Tesla’s autonomous driving. The main functions of v12.5.1 update include earlier and more natural lane change, enhanced owner monitoring function and extended compatibility. Tesla electric pickup Cybertruck will be the first model to get this update.

Before Tesla pushed the update of FSD v12.5.1, Elon Musk, CEO of Tesla, had predicted its functions in advance, emphasizing the reduction of the number of times the owner intervened in the car per mile. In addition, this version will also introduce the "ASS" function independent of the FSD core system.

Although the first push of FSD v12.5.1 will focus on Model Y equipped with HW4 hardware, Tesla plans to expand the compatibility of FSD v12.5.1 in the future and let it land on other models. (Author/Xiao Yu)

For more first-hand news, welcome to download the Phoenix News client and subscribe to Phoenix Net Technology. If you want to see the in-depth report, please search for "Phoenix Net Technology" on WeChat.

National Bureau of Statistics: The decline in investment in fixed assets has narrowed significantly, and investment in high-tech industries and social fields has rebounded.

CCTV News:The State Council Press Office held a press conference at 10: 00 a.m. on July 16th. Liu Aihua, spokesperson of the National Bureau of Statistics and director of the National Economic Statistics Department, introduced the national economic operation in the first half of 2020 and answered questions from reporters. Liu Aihua said that the decline in investment in fixed assets has narrowed significantly, and investment in high-tech industries and social sectors has rebounded.

Liu Aihua introduced that in the first half of the year, the national investment in fixed assets (excluding farmers) was 28,160.3 billion yuan, down 3.1% year-on-year, with a decrease ratio of 1-mdash; It narrowed by 3.2 percentage points in May, which was 13.0 percentage points lower than that in the first quarter. In terms of fields, investment in infrastructure decreased by 2.7%, while investment in manufacturing decreased by 11.7%, which was 17.0 and 13.5 percentage points lower than that in the first quarter respectively. Investment in real estate development increased by 1.9%, down by 7.7% in the first quarter. The national commercial housing sales area was 694.04 million square meters, down 8.4%; The sales volume of commercial housing was 6,689.5 billion yuan, down 5.4%, and the decline rate was narrowed by 17.9 and 19.3 percentage points respectively compared with the first quarter. In terms of industries, investment in the primary industry increased by 3.8%, and decreased by 13.8% in the first quarter; Investment in the secondary industry decreased by 8.3%, and investment in the tertiary industry decreased by 1.0%, which were 13.6 and 12.5 percentage points narrower than those in the first quarter respectively. Private investment was 1,578.67 billion yuan, down 7.3%, and the decline rate was 11.5 percentage points narrower than that in the first quarter. Investment in high-tech industries increased by 6.3%, down by 12.1% in the first quarter; Among them, investment in high-tech manufacturing and high-tech service industries increased by 5.8% and 7.2% respectively. In high-tech manufacturing, the investment in pharmaceutical manufacturing, computer and office equipment manufacturing increased by 13.6% and 8.2% respectively; Among the high-tech service industries, the investment in e-commerce service industry and scientific and technological achievements transformation service industry increased by 32.0% and 21.8% respectively.Investment in social fields increased by 5.3%, down by 8.8% in the first quarter; Among them, investment in health and education increased by 15.2% and 10.8% respectively, and decreased by 0.9% and 4.0% respectively in the first quarter. From the ring comparison, investment in fixed assets (excluding farmers) increased by 5.91% in June compared with the previous month.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  According to official data, as of August this year, the cumulative sales of the Song family has exceeded 1.67 million. It can be said that in the current new energy A-class SUV market, the Song family has reached the top flow level in terms of attention and sales volume, and completed the full coverage from DM-i hybrid to EV pure electricity. Among the models in the Song family, I think everyone is equally equal in terms of quality and intelligent performance, but if I have to let who has the highest value, then I personally think it must be right.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  Although BYD has not been around for a long time, it has its own place in the hearts of the public with its rich configuration and excellent intelligent performance. It is also known as the most beautiful B-class pioneer hunting SUV of BYD Dynasty Network with its excellent face value. At the 2024 Chengdu Auto Show, BYD’s 2025 Song L EV was officially launched. The new car was not only optimized and upgraded in appearance and interior details, but most importantly, it was equipped with DiPilot 100 "Eye of God" advanced intelligent driving assistance system, which also made up for the regret that there was no advanced intelligent driving before.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  Continue the dynamic and elegant appearance and add the appearance color matching.

  BYD Song L series has the elements of hunting car in appearance, and the low-lying and wide-body body looks very sporty. It is the first car to use such design elements in BYD Dynasty. In fact, there is basically no change in the appearance of the 2025 model this time. Personally, I don’t think it is necessary to change anything, because it is already very handsome.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  The front grille uses a relatively sharp design, and the dragon face design plus 3D dragon beard looks very three-dimensional. The daytime running lights with dragon beard shape run through the whole front face, which is very recognizable. The long and narrow LED headlights are in proportion to the front of the car. The appearance of the new car has added aurora blue color matching.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  There is no difference between the body size of the new car and the cash, and the wheelbase of 2930 mm makes the seating space in the car very spacious. The frameless door design can also give people a very elegant feeling, and the double-layer glue glass increases the quietness of the car. The slight slip back design makes the rear of the car look very full.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV
DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  The biggest highlight of the rear of the car this time is the addition of an electric tail that can be opened and closed. The tail can be opened or closed through the screen and voice control of the car. You can also set the automatic mode, which will automatically rise when the speed reaches 90 km/h, increasing the downforce at the rear of the car at high speed. The taillights with Chinese knots have also become the unique logo of BYD Dynasty.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV
DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV
DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  The 2025 Song L EV is equipped with DiPilot 100 "Eye of the Gods" high-order intelligent driving assistance system. The system uses a visual perception scheme, and high-definition cameras are arranged in front of the external reflector, on the side of the fender and inside the front windshield. The specific arrangement includes high-precision millimeter-wave radar *5+ forward-looking camera *2+ rear-looking camera *1+ side-looking camera *4+ panoramic camera *4+DMS camera *.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV
DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  This set of central computing platform is designed, developed and produced by the whole automobile factory, which improves the driving safety and convenience in high-speed and expressway, urban roads, parking lots and other scenarios. Provide a number of driving assistance functions including driving assistance, parking assistance and safety assistance. We will experience it in detail later.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  In terms of handling, the new car uses the combination of front double wishbone and rear independent suspension, and is also equipped with Yunqi -C intelligent damping body control system. According to official data, the vibration isolation rate of 60 km/h pulse pavement is 96%, the pitch angle of 100 km/h brake is reduced by 28.5%, and the roll angle speed of 100 km/h double lane is reduced by 41.2%. The overall experience is as follows, in a nutshell.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV
DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  The four-wheel drive version of this experience is equipped with a special 20-inch five-star rim, and the front and rear unequal width design is used, which can improve the tire grip in a targeted manner. Golden self-developed custom four-piston calipers have good braking efficiency and linear braking foot feeling during driving. The braking response speed is 20% higher than that of the floating pliers. The perforated ventilation disc brake pad has high heat capacity and heat dissipation is about 21% higher than that of the conventional disc, which makes the braking effect of the 2025 Song L EV outstanding, and the braking distance is within 36 meters.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV
DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  New interior color matching intelligent voice upgrade

  Sitting in BYD’s 2025 Song L EV car, the first feeling is that the shiny chrome decoration on the previous models has become less, and it has been replaced by a large area of suede. The simple and impetuous interior design is full of sports and the workmanship is also up to standard. The experienced model provides multi-color atmosphere lights and fragrance system, and the wilderness gray is the exclusive color matching of the four-wheel drive model. This time, the interior color of the 2025 model has also added a mysterious gray color scheme.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  Commonly used buttons are designed around the cutting bar, which will be familiar to those who are familiar with BYD models. A 50-watt mobile phone wireless charging panel is provided in front. A total of four screens are provided in the car, namely, 15.6-inch high-definition central control panel, 10.25-inch full LCD instrument, 5.8-inch rear air conditioning control panel and 50-inch AR-HUD head-up display screen, which highlights the car’s advanced sense and sense of technology.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV
DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  The latest version of the car UI desktop and secondary menu looks very neat, you can get used to it with a little habit, and you can download rich apps through the application market. On the 2025 model, the intelligent voice assistant has been upgraded, and the wake-up response time is as fast as 400 milliseconds. More than 1000 core car control functions greatly improve driving convenience, and the canopy mode switching, electric tail lifting and driving mode selection can all be linked by voice. 4-tone recognition can meet the precise needs of different people in the car; Continuous dialogue in the whole scene, one wake-up can identify multiple instructions, and Xiao Di can also intelligently distinguish between in-car chatting and car control instructions, which does not disturb normal communication and can respond in time.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV
DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  There is nothing to say about the comfort of the seat, and the performance of the front and rear rows is good. The front seat driver and passenger both support the functions of electric adjustment, heating and ventilation, and the massage and boss key are not left behind. The back of the rear seat has a certain shape, which can properly fix the back. The backrest of the seat can also be completely leveled forward, which expands the space of the luggage compartment. With the electric tailgate with large opening, it is very convenient to take things.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV
DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  DiPilot 100 "Eye of the Gods" has been tuned into vehicle control, which is remarkable.

  The 2025 Song L EV benefited from the development of E platform 3.0, and performed very well in driving texture and handling. The golden power combination structure of front-induction asynchronous motor and rear-permanent magnet synchronous motor is adopted. Under the acceleration condition, the front and rear motors simultaneously exert force, and the maximum output power of the system reaches 380 kW, the peak torque reaches 670 Nm, and the zero-hundred-speed acceleration is 4.3 seconds. Even in comfort mode, you can still have a good acceleration performance with a little body accelerator pedal.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  The adjustment of DiPilot 100 "Eye of the Gods" advanced intelligent driver assistance system is radical in my experience, and in short, it is very decisive. In the navigation state, you can start the high-speed navigation mode by pulling the steering wheel steering lever. In this mode, the vehicle can realize the functions of automatic lane selection, shifting the lever to change lanes, and automatically getting on and off the ramp. When executing the above orders, the system makes a decisive decision, and can complete the lane change when the distance between the front and rear cars is small, and the timing looks like an old driver.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV
DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  When there is a slow train ahead, the vehicle will automatically change lanes to the adjacent lanes and overtake them, and the action will be skillful in one go. Up and down ramps can also be advanced, and lane-changing operations can be carried out to the rightmost lane in advance, so that the deceleration up and down ramps can move smoothly. When there is a traffic jam in front of the car, it will not slow down sharply. The car will slow down and follow, or find the opportunity to change lanes and overtake. Generally speaking, I think the adjustment of intelligent driving is quite comfortable.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  The remote parking function, developed on the basis of automatic parking, is connected with the vehicle through the Bluetooth of the mobile phone. After the parking space is selected at the vehicle terminal, the driver can leave the vehicle and start parking through the mobile phone terminal. The system controls the vehicle to park or leave the parking space automatically, which effectively solves the pain point in the situation of narrow parking or inconvenient getting on and off.

DiPilot 100 Intelligent Driving Get on the Car and Test Drive 2025 Song L EV

  Full text summary:This time, the 2025 Song L EV not only upgraded its appearance and configuration, but also added DiPilot 100 "Eye of God" advanced intelligent driving assistance system, which made up for the regret that the previous Song L model did not have advanced intelligent driving. At present, the car has been listed. The most surprising thing is that the price of the new model is consistent with that of the 2024 model after it is added. This is enough to show that BYD is very sincere to users. If you are satisfied with the performance of this car, just rush directly.

Is Xiaomi’s latest quarterly performance "surprised" or "happy"?

Wen | Caihua Society

( 01810.HK)The results released in the third quarter of 2023 show that the overall gross profit margin, the gross profit margin of smartphone business and the gross profit margin of IoT (Internet of Things) and consumer products business all reached record highs. At the same time, the adjusted profit after deducting non-core funds increased by 1.83 times year-on-year, reaching 5.99 billion yuan (RMB, the same below). However, its share price plummeted by nearly 5% after the results were announced. Is Xiaomi’s performance a surprise or a joy?

In the third quarter of 2023, Xiaomi’s quarterly revenue increased slightly by 0.60% year-on-year to 70.894 billion yuan.

The quarterly revenue of the smartphone segment decreased by 2.04% year-on-year to 41.649 billion yuan, which is in line with the current global mobile phone consumption trend. The revenue of IoT and consumer goods segment increased by 8.47% year-on-year to 20.673 billion yuan; Driven by advertising revenue, the Internet service segment grew by 9.75% year-on-year to 7.756 billion yuan, of which game business revenue increased by 5.6% year-on-year to 1.1 billion yuan, while advertising revenue increased by 15.7% year-on-year to 5.4 billion yuan, as shown in the following figure.

Although the quarterly revenue growth only increased slightly, the gross profit margin has been greatly improved, among which the gross profit margin of the smart phone business segment has the largest increase, rising by 7.74 percentage points year-on-year to 16.64%; The gross profit margin of IoT and consumer goods also increased by 4.34 percentage points year-on-year to 17.83%; Due to the higher proportion of advertising revenue, the gross profit margin of the service segment also increased by 2.36 percentage points year-on-year to 74.41%.

Comparing the above figure with the following figure, although the revenue growth is not large, the gross profit scale of each business segment is very conspicuous, which is much higher than the past quarterly performance.

At the performance conference, the management explained the main reasons for the record high gross profit margin of mobile phone business as follows: 1) optimization of product mix; 2) Supply chain cost reduction — — Comprehensive factors such as falling raw material prices.

However, we are more concerned about whether Xiaomi’s inventory impairment provision decreased in the third quarter due to its large amount in previous quarters, which is an important factor affecting the gross profit margin.

Caihuashe noted that Xiaomi’s inventory impairment reserve expenditure in the third quarter of this year was 794 million yuan, down by 65.27% and 9.88% respectively compared with 2.286 billion yuan in the same period last year and 881 million yuan in the last quarter. According to Caihua Society’s estimation, the proportion of inventory impairment reserve in product income in the third quarter of this year also decreased from 3.71% in the same period of last year to 1.27%, which should play a certain role in boosting the profitability of its hardware products.

The management mentioned at the performance conference that the decrease in inventory impairment is not the main reason for the increase in gross profit margin. CFO said that in the third quarter of 2023, the impact of this factor on Xiaomi’s gross profit margin was about 0.8 points, plus 0.8 points last year, making a total of 1.6 points.

However, it should be noted that during the period, the average selling price of smartphones, Xiaomi’s main source of income, dropped by 5.78% year-on-year, falling below 1,000 yuan to 997 yuan, compared with 1,058.2 yuan in the same period of last year and 1,151.6 yuan and 1,112.2 yuan in the first two quarters of this year, as shown in the figure below.

Xiaomi explained that the decrease in the average price (ASP) of smartphones was mainly due to the strong growth of shipments in emerging markets with low ASP in Latin America, Africa and the Middle East, which was partially offset by the increase in ASP in China. According to this, it may be inferred that the lower cost is the main reason to promote its profit.

As mentioned by the management, the optimization of supply chain has reduced the procurement cost, or it is a very important reason, but the provision for impairment of inventory in the early stage has increased significantly, effectively reducing inventory, and making the net inventory drop sharply. As shown in the figure below, since September 2021, Xiaomi’s inventory impairment provision has been rising continuously, reaching a peak in March 2023, and then declining. By these two quarters, Xiaomi’s net inventory has dropped significantly.

It is estimated that the promotion of gross profit margin brought by the decline of inventory cost can last for several quarters.

Affected by the improvement of overall gross profit margin, Xiaomi’s gross profit in the third quarter of 2023 increased by 37.43% year-on-year to 16.11 billion yuan.

At the time when Xiaomi was listed on the Hong Kong Stock Exchange, in order to boost traffic, Xiaomi’s sales and promotion expenses always accounted for a large proportion of expenses. However, in recent years, Xiaomi has invested more resources in R&D to build the future with technology, so the proportion of R&D expenses is increasing. Caihua Society noticed that since the fourth quarter of 2022, R&D expenses have accounted for more than marketing and promotion expenses.

In the third quarter of 2023, Xiaomi’s R&D expenditure increased by 22.03% year-on-year to 4.966 billion yuan, accounting for 7.01% of revenue from 5.77% in the same period of last year; The sales and promotion expenses decreased by 3.00% year-on-year to 4.736 billion yuan, accounting for 6.68% of the total revenue from 6.93% in the same period of last year, as shown in the following figure.

Although its operating expenses have increased, they are still effectively controlled — — At the very least, the growth rate was much lower than the gross profit growth, so it turned losses into profits. In the third quarter of 2023, it recorded a quarterly net profit of 4.874 billion yuan, compared with a net loss of 1.476 billion yuan in the same period last year. Excluding non-core funds such as changes in fair value of investment, Xiaomi’s adjusted net profit in the third quarter actually increased by 182.89% year-on-year to 5.99 billion yuan.

After the performance reporting period in the third quarter of 2023, Xiaomi has several major events worthy of attention:

1) In October, 2023, Xiaomi announced a brand-new strategy of upgrading from "mobile phone X AIoT" to "people, cars and homes are all ecological", and released a brand-new operating system "Xiaomi surging OS".

2) In October 2023, atApple (AAPL.US)In the gap between Huawei’s release of new mobile phones, Xiaomi also released the Xiaomi 14 series in the Mainland.

3) Xiaomi Auto appeared on the website of the Ministry of Industry and Information Technology, which also made everyone have a substantial imagination about Xiaomi’s "people and cars".

At the performance conference, Lu Weibing, president of Xiaomi, insisted on several aspects of Xiaomi’s future development: high-end, internationalization, firm investment in the future, investment in technology, continuous change and upgrading of management, and the most long-term and sustained high-quality growth — — The transition from flow to quality, andTencent (00700.HK)Exactly the same.

In the first three quarters of 2023, Xiaomi’s overseas business income decreased by 16.42% year-on-year to 89.435 billion yuan, accounting for 45.2% of Xiaomi’s total income from 50%.

According to Canalys data used by Xiaomi, in the third quarter of 2023, its global smartphone delivery volume was the only positive growth among the top four suppliers, with a year-on-year increase of 2.4% to 41.5 million units, and its market share increased from 12.9% in the previous quarter to 14.1%. However, Caihua Society also noticed that Transsion, another smartphone in China, grew very rapidly, with a year-on-year increase of 39.5%.

In recent years, Xiaomi’s main achievements in overseas markets include: 1) diversified categories; 2) Expand the geographical market; 3) The global environment is not very good, and the environment it faces is complex, so Xiaomi is urged to establish a safe platform, which has gradually produced results. The map of globalization continues to expand and differentiate. For example, Africa doubled its share from last year to this year, and achieved a year-on-year growth of 40% in Latin America. Europe also experienced double-digit growth in the third quarter. Although the Indian market that everyone cares about is under pressure, its performance in the third quarter has greatly improved compared with that in the second quarter.

On the whole, the management thought at the performance conference that overseas markets have a lot of room for development. His reason is that Xiaomi has done well in some markets, such as Spain, and has achieved 32% market share, but it still has a small share in some other markets, which means there is a lot of room for expansion.

In addition, with the penetration of its mobile phones and smart home products in overseas markets, the monthly active user scale (MAU) of Xiaomi Eco has expanded, and the stock has driven the value of its Internet value-added services, which is also a big boost for Xiaomi’s service revenue to achieve a year-on-year growth of 9.75% in the third quarter.

For the future, the management indicated that it would expand the service types of overseas business, and constantly attract partners to serve global users.

Xiaomi, which has always taken the economic route, has put forward high-end changes in recent years, and Xiaomi 14 series may drive its high-end product revenue share after the fourth quarter.

However, the management admits that the high-end of Xiaomi is still in the investment period, and there is no obvious difference between the high-end and the low-end. There is a lot of room for improvement of the high-end in the future, and the scale has not yet reached the level of quantitative change to qualitative change. There is still a gap between Xiaomi’s 4000 yuan mobile phone and Samsung and Apple in the world. This is also a challenge and an opportunity for Xiaomi, and it is necessary to tap the future high-end potential.

In 2023, Xiaomi announced the latest strategy to upgrade "mobile phone XIAOT" to "the whole ecology of people, cars and homes".

The management said that the global smartphone market share will become more concentrated in the future, which may mean that some brands will quit and some brands will further expand their share. The head brand will meet the needs of different customer groups through omni-channel, all-customer service and product attraction segmentation. Xiaomi’s concept of "people, cars and homes" is to export product experiences and solutions to users in the way of driving other products to consume with a strong brand like smart cars through customer group classification, and the bottom of the solution is supported by the system of "people, cars and homes", which is the logic of its development of this concept to complete the ecological closed loop.

For the details of Xiaomi Automobile, the management said that it is not convenient to disclose it, but it roughly outlines its role in "the whole ecology of people, cars and homes":

1) People and cars are all ecological, and cars will play an indispensable role in the whole ecological chain of Xiaomi. In the future, customers will buy Xiaomi products, not single products, but product combinations, lifestyles and solutions;

2) Xiaomi automobile will cooperate with the existing mobile phone and consumer electronics products and service ecology, and the great integration of automobile and consumer electronics will drive the chemical reaction of the whole ecology, and the automobile will be fully integrated into the product and service ecology.

On the whole, Xiaomi delivered an unexpected performance in the third quarter of 2023, and also put forward the strategy and growth potential for future development. Then why did the stock price fall instead of rising after its performance?

Caihuashe believes that short-term investors take advantage of favorable shipments to make profits or a reason. As shown in the figure below, Xiaomi’s share price has continued to climb since October, and it has risen by more than 36% on the eve of the announcement of quarterly results.

Secondly, Xiaomi’s "people, cars and homes are all ecological" sounds beautiful, but it will affect its profitability in the short term, especially considering the high cost of building cars. Now "new forces" are still struggling to reach double digits for gross profit margin. Xiaomi is involved in this highly competitive track, and the short-term profit predictability is not high.

In the face of the work "Big Man", I swear to carry out the task to the end!

1905 movie network news The pressure of modern people’s life is getting bigger and bigger. They work overtime, can’t afford to buy a house, and are scolded by leaders. The speed of salary increase can never keep up with the speed of inflation, but they often give up halfway when they want to make achievements.

When you are envious of those "great men" who have made achievements, do you find that whether it is Tu Youyou, a scientist who created a new antimalarial drug artemisinin to save countless lives, Mo Yan, a great writer whose works have been translated into more than 40 languages and widely circulated all over the world, or Li Changyu, a detective who has repeatedly solved strange cases and made criminals have nowhere to escape, they all have a tenacity in their career, a force to persevere and never give up until they reach their goals.

There is also such a "big shot" in a movie "Big Shot" which will be released on December 21st. Although he is just an ordinary people’s policeman, his attitude of being responsible for the task is worth learning by many people. In the previous trailer, Sun Dasheng, a criminal policeman played by Wang Qianyuan, found that the evil group headed by Zhao Tai, played by Bao Beier, was seriously suspected in the process of investigating the "jumping case". Facing Zhao Tai, a rich second generation local real estate developer, Sun Dasheng was fearless. He continued to collect criminal evidence of evil gangs. Just as the truth was about to be revealed to the world, Sun Dasheng was suddenly suspended.

As a suspended policeman, he lost the ability to enforce the law, but as a policeman who insisted on upholding justice, he chose to continue to stand up for justice! Facing the reporter, Sun Dasheng said firmly: "Whether I am a policeman or not, I will check it out!" On the rooftop of the nightclub, Sun Dasheng was on the verge of catching Zhao Tai, but Zhao Tai’s bodyguard stopped him. Sun Dasheng didn’t give up. He opened his posture and subdued the bodyguard with only one blow. In the square, Sun Dasheng drove a police car to chase Zhao Tai, who was reckless and rampaging. Zhao Tai was forced to get off the bus after the vehicle was violently hit, and the two men then launched the final battle from boxing to meat.

Stay up late and work overtime, the plan is difficult to do, and the salary does not rise … … There may be 10,000 reasons why people want to give up halfway at work, but before giving up, we can think about those who persist to the end. They have all become "big shots". When a person has a firm belief in his career, nothing can stop him. Maybe if you persist, you can achieve your "small goal" and become a "big man" like them. After all, those who walk a hundred miles are half ninety, and the most difficult thing is to persist in the end.

"Big Man" will land in the cinema on December 21st, and you will see a "big man" who is facing the work, swearing that he will carry out the task to the end!

Did the Red Army really eat belts on the Long March?

  Xinhua News Agency, Beijing, September 14th Question: Did the Red Army really eat belts on the Long March?

  Xiao Shizhong, Yu Jikun, Sun Jie

  On the Long March, did the Red Army really eat belts?

  The answer is yes, but the belts eaten by the Red Army are not belts that have been industrialized now, but leather products that farmers and herdsmen have simply processed in the past, and belts that were originally prepared to fill their hunger on the road. This reflects the hardships of the Red Army’s Long March from the side, and reflects the determination and will of the Red Army to overcome difficulties and hardships.

  In the 1930s, China’s industry was very backward. Most of the belts used in pastoral areas and rural areas were used only after simple initial processing without industrialized processing, that is, without processes such as peeling and shrinking leather. Such a belt can be cooked and eaten when it is necessary.

  Chuankang area, where the Red Army’s Long March passed, is sparsely populated and has a harsh natural environment. In particular, in order to be able to pass through the inaccessible snow-capped mountains and vast water grass fields, according to the experience and lessons of the vanguard troops, before crossing the snow-capped mountains and grasslands, every soldier should try his best to bring enough food before starting.

  However, in the remote, barren and economically backward minority areas, coupled with the blockade of the Kuomintang army, the Red Army could not raise enough food, so it had to take whatever it could. For example, after the cattle and sheep are slaughtered, there should be no waste. In addition to drying the beef into a dry belt, the cowhide is cut into a belt and tied around the waist after drying, making it a special belt. When the food is eaten up, take it out and eat it. The method of eating is also very simple. After soaking the belt in water, put it in a pot and cook it. If there is salt, put some, whether it is rotten or not, as long as it can satisfy the hunger.

  The two belts collected by the National Museum witnessed the hardships of the Red Army when crossing the grass. It was left by Ren Bishi, the leader of the Red Second Army, and Zhou Guangcai, a soldier of the Red Fourth Army, when they crossed the grassland on the Long March.

  When Ren Bishi, He Long and others led the Long March across the grassland, many soldiers fainted because of hunger. In the absence of any food substitutes, Ren Bishi and the guards cut the belt into several sections and cooked it in a pot, and each person could only get three small pieces at a time. Although it tastes bad and hard to swallow, they are humorously called "eating boiled beef". After walking out of the grass, he kept the remaining half of the belt. In 1938, when Ren Bishi returned to Yan ‘an from Taihang Mountain, he gave this half belt to Li Shaoqing, a guard, for preservation. After liberation, Li Shaoqing donated it. On this half belt, there are still clear traces of cutting with a knife.

  Some officers and men of the Red Fourth Front Army have crossed the grassland three times, and the conditions are extremely difficult. Zhou Guangcai, a soldier, was given a belt as a trophy. When crossing the grass, six comrades-in-arms ate their belts one after another. When it was Zhou Guangcai’s turn, he burst into tears at the age of 14 or 15 and begged everyone not to eat his booty. In this way, everyone resisted hunger and didn’t want to eat this belt. In order to remember the difficult course of the Long March, and to commemorate those comrades who depend on each other for life and death, Zhou Guangcai lovingly carved the words "Long March" on the back of his belt, and kept it with him until the country collected cultural relics.

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