标签： 南京夜生活去哪玩

Focus analysis： The window shop has been abandoned, and the tea shop is getting bigger and bigger.

On July 24th, on the first floor of Shanghai Heshenghui Plaza, the first newly opened LELECHA.PARK became a new punching place, and young people who came for early adopters lined up in a long queue.

With a number of stalls and a variety of peripheral products, Lele Tea Tea Paradise looks more like a lifestyle collection shop related to tea, and it is also a carnival for young people chasing the new tea trend.

Lele Tea Garden is also the largest store of the brand so far, covering an area of 1,000 square meters.One trend is that most tea brands are there.Work hard against Starbucks in terms of space and consumption experience.Try to open a bigger store. Not only Lele tea, but also CoCo Coco tea, Bayishan tea and Naixue tea.

CoCo, a veteran tea player, is using a modern and larger high-value new store, so consumers no longer have to experience wind and sun when waiting for drinks to come out. CoCo can also get rid of the image of "window tea shop" and realize brand upgrading and transformation. CoCo can say in an interview that it will not sign stores below 80 square meters in the future. In 2019, the number of CoCo stores exceeded 3,000, and the monthly turnover of a single store was between 300,000 and 400,000 yuan. This is a good business data for CoCo Coco, which has a lower unit price.

Ba Yishan, who is extravagant, opened a 3500-square-meter super-large shop, trying to sell the concept of leisure space for high-quality tea. There is an amusement park, a maternal and child room and a dressing room in the store. In addition to the common slides, the amusement park also has facilities such as basketball machines and doll machines. As an important player of new tea, Naixue’s tea has also recently launched blablabar pub, which not only enriches the scene, but also contributes to improving the overall profit of the brand.

The tea-making paradise opened by Lele Tea is one of the richest product forms among big store players. There are 10 stalls in the new store, selling 11 sub-brands, including Lele Tea, TEA GELATO, TEA POPSICLE, BREAD LAB, PILLOW TOAST, PINEAPPLE, BERRYHERE, BOBOCAKE, TEA LAB and TEA FACTORY, including classic Lele Tea, ice cream, popsicle bread, pillow toast, pie, strawberry cake, freshly baked Shufulei, etc.

Tea and soft bags are still the main categories. TEA LAB includes not only classic cheese fresh fruit tea, but also new products such as cross-border brewed beer tea, chicken tail tea, tea-making coffee, tea ice music and so on, as well as cold-extracted tea featuring original leaves. BREAD LAB has several main soft package brands. In order to enhance the brand style, Lele Tea and Michelin-starred chef Christophe Dufossé also launched two cooperative products, MOREFUN BREAD.

Lele Tea Garden also introduced scenes such as tea bars and tea houses for the first time. Consumers who arrive at the store can choose tea leaves and make tea themselves. In addition to selling the main products such as tea and soft bags, the aisle of the store opens up a display area for surrounding products, and puts cups, espresso, tea sets, tea leaves and other commodities.

Opening a big store is a high-investment and high-risk action.Bayishan’s "Big Mac" store spent more than NT$ 200,000 just in the window. According to the Wall Street Journal, Starbucks once chose to slow down the plan to open a shop in Zhenxuan Workshop because of the high cost of big stores.

When a tea brand opens a big store, it is necessary to choose a point with high cost performance as much as possible. Take Xicha as an example. In the big stores in shopping centers, they usually choose a location far away from the entrance of shopping malls to save costs as much as possible. Due to the numerous brands of shopping centers and obvious scale effect, even if the location is not so conspicuous, it can attract a large number of passengers. 36Kr also learned from an employee of a shopping center that many shopping centers attach great importance to the drainage effect of online celebrity tea shop and can generally give a relatively favorable rental price. The same is true for the location of Lele Tea Tea Paradise.Ba Yishan provides another way of thinking. Meilindian chose an industrial park with an area of over 1000 square meters. becauseIn the industrial area, you can get a larger storefront and the rent is lower. Although far from the city center, butParking is very convenient, close to convenient target customers.

Due to the high cost of big stores, tea brands are opening some small stores to provide self-service and take-away services while opening big stores. For example, Hi Tea opened a smart store, HEYTEA GO. There is no cashier in the store, and users can order their own orders through the Hi Tea GO applet.This means that tea players should not only expand brand influence, but also occupy consumers’ minds through new and unique space experiences; It is also necessary to pursue scale, and cover more consumption scenes through small take-out and self-lifting stores that are lightly decorated and light of assets, so as to improve the efficiency. However, because milk tea mainly focuses on leisure and holiday scenes, the demand for diverse scenes is higher than that of coffee that attaches importance to business scenes. Therefore, milk tea shops are still more willing to open large stores to attract tourists.

Behind the growing store is the brand’s helplessness to the reality of the industry.

The iteration of the new tea industry is too fast, and players need to continue to create freshness through differentiated play. On the one hand, they resist the cross-border of catering brands and the attack of coffee brands; Internally, reduce the threat of homogenization competition in the industry.

Because tea products occupy an important position in the food and beverage product mix and can bring a large number of young passengers, major food and beverage giants are opening related sideline businesses. Xiabu Xiabu opened a 200-square-meter tea shop, and Haidilao launched milk tea in 48 cities across the country, so that consumers can buy a cup of tea to quench their thirst after eating hot pot. Western fast food such as McDonald’s, KFC and Pizza Hut are also constantly introducing new seasonal teas, while coffee brands Starbucks, Costa and Ruixing also want to share a piece of this market. Ruixing even created a brand-new brand of deer tea, launched more than a dozen new products at a time, and found a niche Haoran Liu contemporary speaker.

In addition to competition, tea brands hope to give consumers a space to streamline their experience through multiple innovative scenarios, stimulate consumers’ buying behavior with different commodities and consumption links in a relatively complete consumption closed loop, and maximize brand influence. Consumers are too fickle, so tea brands have to speed up the pace of innovation and constantly give new labels to brands to keep these young people chasing the trend.

The bigger the store is, the more categories and SKUs the tea brand can provide, which is based on higher revenue targets. The profit that can be created by selling a cup of tea or coffee alone is always limited. Tea brands are trying to expand the baking business such as soft European bags and cakes, and do a good job of matching tea with soft European bags in order to seek more profit space.

But this road is not easy.The gross profit of soft European bags is between 50% and 60%, which is slightly lower than 70% of tea. According to a source from the tea industry, making soft European bags requires larger stores, more professional pastry chefs, the establishment of a central factory (such as Naixue’s tea, which is made into semi-finished products and then uniformly distributed to stores for on-site baking) and the increase in distribution costs, which cannot be made up by the sales of soft European bags, which is likely to lower the overall efficiency of stores.

New-style tea tries to retain consumers with fresher gameplay, more products and constantly adjusting stores, so as to earn more wins in the competition, which brings them huge financing and high valuation. How to provide good tea stably, control the cost structure and integrate the scattered tea supply chain are all topics that players need to further consider.

After all, new tricks can only bring temporary freshness, but it is difficult to guarantee the long-term brand.

(All the pictures in this article were taken by the author himself)

Real kung fu! Three Shandong guys made their own martial arts films and became popular. Netizen： It’s worse than the movie.

This article is reproduced from WeChat WeChat official account Qilu Evening News (ID:qiluwanbao002）。

What is the hottest kung fu on the short video platform recently? That must be the "Goro Bagua Stick".

Recently, Shandong guys Wang Qun, Sun Xingang and Zhang Jikun, who have been practicing martial arts since childhood, made their own martial arts films and uploaded them to the online platform through video recording. Unexpectedly, they unexpectedly became popular. The hottest video work "Five Lang Bagua Stick" has won more than 2.6 million praises from the public.

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When recording a video, devote yourself to it. When broadcasting live, you are naughty and humorous.

"The Kung Fu Dream of the two uncles (Wu Kong)" is the Tik Tok uploaded by Wang Qun, Sun Xingang and Zhang Jikun, and their names are "Kung Fu" and "Humor".

What really made the three people popular was the 45 real kung fu videos uploaded by them, among which the most popular work was the "Goro Bagua Stick" with over 2.6 million praises. Judging from the video, their every move and every style is devoted. After the live broadcast, the three were naughty and humorous, and the interaction with fans was very casual.

Wang Qun told reporters that all three of them have been practicing martial arts since childhood, from Yantai, Weihai and Liaocheng, Shandong Province, and met in the Wushu Department of Chengdu Institute of Physical Education. At school, they were attracted by each other’s martial arts. After leaving the campus, Wang Qun runs a biotechnology company, Sun Xingang runs a teahouse, and Zhang Jikun has experience in martial arts instruction, and is knowledgeable in choreography and post-editing. Although they are engaged in different industries, they still come together with the same martial arts dream.

"You may not believe it when you say it. The idea of starting to shoot videos was talked about when we were sitting together for tea." Wang Qun said that when they talked about practicing martial arts that day, they didn’t have such advanced mobile phones and shooting equipment, and their previous training was not recorded. The three men proposed to realize their dream of a martial arts film by video recording, and at the same time, they could make a record of their martial arts, and the three men hit it off.

A month ago, they shot the first video and uploaded it to the short video platform, which gained more than 4,000 likes, which brought them confidence. "I didn’t expect so many people to like it. We three big boys got together to discuss whether to continue filming, and finally decided to continue filming." Wang Qun said.

Every time the video is shot, the three people play the action and plot on the spot. From left to right are Sun Xingang and Wang Qun. (Photo courtesy of the interviewee)

Every scene shooting is improvisation and plot.

Talking about the "Five Lang Eight Diagrams Stick" with more than 2.6 million praises, Wang Qun introduced that this video belongs to a relatively long shooting and production cycle. "It takes three or four days to shoot the video, plus two days of post-production, and it takes almost five or six days to do it well." Wang Qun said that the shooting cycle of some small clips is relatively short. For more than a month, they have basically maintained the frequency of updating every two days, and it takes about three or four days to shoot and post-produce.

In the uploaded videos, the real kung fu of the three people won everyone’s praise and recognition. In fact, these videos were not produced by a professional team. "Only the three of us, plus a photographer." Wang Qun said that since the explosion of fire on the Internet, many people have also asked them if there is a professional team operating.

In fact, every time the video is filmed, the three of them are improvising actions and paragraphs on the spot, and then adding the plot. Because many times three people need to appear in a martial arts film at the same time, they hired a professional photographer. If it is a relatively simple plot, Zhang Jikun, who has worked as a martial arts instructor, will shoot it himself and do the post-production.

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Model Y model analysis shopping guide cars that ordinary people in the country can afford

There are many people who blindly look at the vehicle dynamic parameters when buying a car. In fact, the greater the value, the better the experience. What I bring to you today is that it has many highlights. Not much to say, let’s take a look.

Let’s take a look at the appearance of Model Y. The front face of Model Y presents an angular design style and looks very sporty. Then the cold headlight design is adopted, and the visual impact is full. The car is equipped with LED daytime running lights, front fog lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Come to the car side, the car body size is 4750MM*1921MM*1624MM, the car uses simple and generous lines, the car body looks very comfortable, with large-size thick-walled tires, the shape is quite stable and atmospheric. Looking back, the tail line of Model Y is exquisite, and the taillights are very unique and neat.

Coming into the car, the interior of Model Y looks very simple and generous, full of fighting atmosphere. The steering wheel of the car is very clean, equipped with electric up and down+front and rear adjustment, steering wheel memory, steering wheel heating and other functions, and feels good. Take a look at the central control, with a 15-inch touch-sensitive LCD central control screen, which makes the interior design quite layered and in line with mainstream aesthetics. Let’s take a look at the dashboard and seats again. The dashboard of this car presents a simple design style and is very eye-catching. The car adopts leather-like seats, equipped with electric adjustment of auxiliary seats, electric adjustment of seats with memory, and seat proportion tilting, and the comfort is acceptable.

The Model Y is 357KW, the total torque is 659N.m, and the maximum speed is 250 km/h.

In terms of functional configuration, Model Y is equipped with driving mode selection, Bluetooth key, NFC/RFID key, interior atmosphere light, traction control (ASR/TCS, etc.), Bluetooth /WIFI connection and other configurations.

After reading this car, I believe you have a general understanding. This car performs well in terms of space and configuration. As for the design, everyone has their own aesthetics.

Guangzhou Auto Show Preview ｜ Those models equipped with 4C and 5C rechargeable battery technology

"Charge for five minutes, talk for two hours". In the past, we could only see such a slogan in some mobile phone advertisements. With the continuous progress of battery technology in new energy vehicles, 4C and 5C batteries with "charge for ten minutes and battery life of 400 kilometers" will also meet us soon. As the Guangzhou Auto Show is about to open, this issue will take stock of the new models equipped with 4C and 5C battery technology.

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So, what are 4C and 5C batteries? First, let’s find out the meaning of the letter "C". The current value required for the battery to discharge its rated capacity within a specified time can be expressed by the numerical value of the rated capacity (C), which is equal to the multiple of the rated capacity of the battery in data value, and the unit is ampere (A). For example, when the battery capacity of a car is 100Ah, the discharge current of 1C is 100 A; The discharge current of 2C is 200A, so 4C has reached 400A A.. Similarly, high discharge rate also means the improvement of battery charging ability, which is naturally of great concern to consumers. According to the calculation of power = current× voltage, on the basis of 800V high-voltage platform widely used in high-discharge rate battery models, if a battery with a capacity of 100Ah has a discharge rate of 4C, it can input a charging current of 100×4=400A, and then multiply it by 800V, which is the charging power of 320kW per hour. In other words, it only takes ten minutes to charge, and it can charge about 53.3 kWh, which brings considerable power.

Qi Rui Xing Tu Xing Ji Yuan ES: Contemporary Amperex Technology Co., Limited 4C Shenxing Supercharged Battery

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"Charging for 10 minutes, battery life for 400 kilometers" in front of the article is the propaganda slogan played by Qixing Road Xingyu Era ES. Based on E0X high-performance electric platform, Star Road Star Era ES is the first China brand car with 800V high-voltage platform for mass production. It is equipped with 4C Shenxing rechargeable battery first launched by Contemporary Amperex Technology Co., Limited, and Contemporary Amperex Technology Co., Limited also characterized it as "the world’s first 4C rechargeable battery made of Ferrous lithium phosphate materials and capable of mass production". Because the positive electrode of the battery is based on Ferrous lithium phosphate material system, the cost of Shenxing 4C rechargeable battery is greatly reduced compared with that of ternary fast rechargeable battery.

Previously, Star Road Star Era ES has started blind subscription, and the blind subscription price range is 260,000-360,000 yuan.

Extreme Krypton 001 FR and Extreme Krypton 007: Contemporary Amperex Technology Co., Limited 4C Kirin Battery

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Based on Krypton 001, Krypton 001 FR is a pure electric hunting coupe with performance exceeding one million fuel supercars. It is equipped with four wheels and four motors, with a maximum power of 1300Ps and a zero acceleration of 2.02 seconds. The price is only 769,000 yuan. In terms of appearance, the new car adopts a set of sporty encirclement. The front lip, the side lip and the tail wing are all made of carbon fiber, and the hub is also made of high-performance sports tires. From the face value, it is a very strong sports beast. The appearance of extreme Krypton 001 FR has further deepened the sports performance genes of extreme Krypton brand.

In terms of battery, the Krypton 001 FR is equipped with a 100kWh Kirin battery, with a maximum charging rate of 4C, which can charge the battery from 10% to 80% in just 15 minutes.

Although the car Krypton 001 FR is not limited to purchase, it is limited to 99 units per month. If we can’t grab it, we can take a look at the next one.

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If Krypton 001 FR is an experimental product of 4C Kirin battery, then Krypton 007, the first car under the Krypton brand, is a sign that Krypton really starts to charge 4C quickly.

As the first medium-sized car owned by Krypton, Krypton 007 is built on PMA2+ platform under SEA architecture, equipped with 800V electrical architecture, Kirin battery, Snapdragon 8295 chip and three laser radars. The news about Krypton 007 is still limited, but with the support of PMA2+ platform and 800V high-voltage electrical architecture, the maximum charging power of Krypton 001 equipped with Kirin 4C battery is expected to reach 400kW.

The price range of the new car is expected to be about 250,000-300,000 yuan, and it will be officially unveiled at the Guangzhou Auto Show, which opened on November 17, and the pre-sale will be started simultaneously.

Wenjie M9: Contemporary Amperex Technology Co., Limited 4C Kirin Battery

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On September 25th, 2023, Huawei held a new product launch conference in autumn. Yu Chengdong, chairman of Huawei, announced that the M9, the flagship SUV of Panoramic Wisdom, would be released in December 2023.

The M9 is positioned as a D-class luxury SUV. The length, width and height of the new car are 5230mm×1999mm×1800mm respectively, and the wheelbase is 3110mm. Wenjie M9 is equipped with Huawei’s advanced intelligent assisted driving system and HarmonyOS Harmony 4.0 cockpit. In terms of power, the M9 adopts a 1.5T dual-motor extended-range hybrid system and a dual-motor four-wheel drive pure electric power system. In terms of battery, the extended range version is equipped with Contemporary Amperex Technology Co., Limited battery pack, with a battery capacity of 40kWh and a pure electric cruising range of 175km；; The pure electric version is equipped with Contemporary Amperex Technology Co., Limited 4C Kirin battery, with a capacity of 97kWh and a cruising range of 630km, and supports 800V ultra-fast charging technology.

Hechuang V09: Juwan Technology 4C Fast Charging Battery

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Hechuang Automobile is a new energy premium brand jointly invested by Zhujiang Investment Management Group and Guangzhou Automobile Group. It has launched three models: Hechuang 007, Hechuang Z03 and Hechuang A06. On October 13th, Hechuang Automobile’s first pure electric luxury MPV, Hechuang V09, was officially launched and delivered simultaneously. There are five versions of the new car: Deluxe Edition 620, Honor Edition 620, Honor Edition Overcharged Edition 620, Honor Edition 762 and Flagship Edition 762. The standard cruising range of CLTC is 620km and 762km respectively, and the official suggested retail price is 318,800-438,800 yuan.

Hechuang V09 comes standard with 800V high-voltage silicon carbide platform. Among them, Hechuang V09 "Honor Edition Overcharged 620" version is equipped with XFC rechargeable battery customized by Juwan Technology Research. The official said that the peak fast charging power is as high as 410kW, and the charging efficiency has reached 4C level.

Tucki X9: Contemporary Amperex Technology Co., Limited Kirin 4C Battery

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Tucki X9 is Xpeng Motors’s new flagship MPV. He Xiaopeng once said that Xpeng Motors will use this model to open the "young" MPV market. Indeed, judging from the design of Tucki X9, the route taken by Tucki X9 is really different from other pure electric luxury MPVs, and the contour lines of the front and rear of the new car are more dynamic.

Coupled with Tucki’s proud advanced intelligent driving and rear wheel steering blessing, it seems that Tucki X9 will focus more on the main driving.

As for the battery, Tucki X9, like Tucki G9 and G6 before, is built by Tucki’s whirlwind architecture, and also adopts 800V high-voltage platform. The battery is ternary lithium-ion battery from Zhongchuang Singapore Airlines. According to speculation, the 4C battery technology provided by Tucki G9 should also appear on Tucki X9, and this 4C battery is still from Kirin 4C battery in Contemporary Amperex Technology Co., Limited. On the 2023 Tucki G9, the Kirin 4C battery appeared as an optional package. On the 2024 Tucki G9, the 4C battery option package disappeared. Generally speaking, whether Tucki X9′ s energy-supplementing efficiency can reach 4C still needs further information.

Zhijie S7: Jiangsu Times Power Battery

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On November 9th, the first model of Zhijie brand, which Chery cooperated with Huawei, was officially unveiled and pre-sold. Four versions of Zhijie S7 Pro, Max, Max+ and Max RS were launched, with the pre-sale price starting from 258,000 yuan. It is reported that Zhijie S7 will be officially listed on November 28th.

The length, width and height of Zhijie S7 are 4971mm/1963mm/1474mm respectively, and the wheelbase is 2950 mm. It is positioned as a medium and large-sized pure electric car. The new car is equipped with a new generation of DriveONE 800V silicon carbide power platform and Huawei Turing intelligent chassis. It adopts the combination of front AC asynchronous motor and rear permanent magnet synchronous motor. The total power of the four-wheel drive version is 365kW, the torque is 679N·m, the drag coefficient Cd is only 0.203, and the acceleration of 100 kilometers is only 3.3s s.

As for the battery, no more information is disclosed at present, but the official claims that the overcharged model can increase the cruising range by 200+km after charging for 5 minutes, which has basically reached the charging level of 4C. It is worth mentioning that the power battery pack carried by Zhijie S7 is a mix of lithium ternary battery and lithium iron phosphate battery, and its power battery supplier is Jiangsu Times, which is actually a wholly-owned subsidiary of Contemporary Amperex Technology Co., Limited.

Ideal MEGA: Contemporary Amperex Technology Co., Limited Kirin 5C battery

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The ideal first pure electric MPV model-the ideal MEGA is quite hot, and the new car will also be booked at the Guangzhou Auto Show. It can be said that in addition to the appearance of a high-speed train locomotive, the concept of "5C" seems to be the beginning of the ideal MEGA. As the saying goes, "literature is no first, martial arts is no second". When it comes to 5C, people will think of the ideal MEGA first, and this label is even labeled. Of course, the ideal MEGA is not only popular in off the charts, but also has many mysteries. What we can know is that it is expected to be equipped with Contemporary Amperex Technology Co., Limited Kirin 5C battery for the first time, with a peak 5C charging rate, a peak charging current of 700A+ and a peak charging power of 520kW+. The official claim is that it has "brought the fastest charging speed of electric vehicles in the world-charging for 500 kilometers in 12 minutes".

Wubo HT: Haobo 5C Flash Rechargeable Battery

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Haobo HT is the third model of Haobo brand. It is positioned as a medium and large pure electric SUV, and it was officially launched on November 15th, with a price of 213,900-329,900 yuan. The new car is built on the pure electric platform of AET3.0 and the electronic and electrical architecture of Spirit. The length, width and height of Haobo HT are 4935x1920x1700mm and the wheelbase is 2935mm, which really gives everyone a big surprise.

In addition, another killer configuration of Haobo HT is that it is equipped with an overcharged battery of up to 5C, which is officially called Haobo 5C flash charging technology. This is a set of closed-loop technology from recharging to battery. It is officially claimed that it can charge for 8 minutes and last for 400+ kilometers, and it will land earlier than the ideal MEGA.

Write at the end:

At the presentation conference of Zhijie S7, Yu Chengdong described the charging of Zhijie S7 as follows: charging for 5 minutes can last for 200+km, and charging for 15 minutes can last for 400+km. Take a closer look, that is to say, the approximate 4C charging power that Zhijie S7 can actually achieve may be 5 minutes in an ideal situation, and the charging power for the next 10 minutes will become 2C; For another example, the charging rate advertised by the ideal MEGA at first was not 5C, but 4C, but after it was changed to 5C, the heat of the ideal MEGA reached the second peak after its appearance was announced.

Higher fast charge rate is naturally the focus of current technical research, but from the consumer’s perspective, the actual experience of recharging is equally important. Only by the long-term word-of-mouth accumulation of users can we know more real feedback. I hope that the fast charging technology of "charging for 10 minutes and cruising for 400 kilometers" can be popularized on a large scale and really change people’s travel life.

A shares closed down： more than 4,000 stocks fell, and the turnover was less than 800 billion.

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　　The three major A-share indexes collectively pulled back today. As of the close, the Shanghai Composite Index fell 0.42% to close at 3,157.97 points. The Shenzhen Component Index fell 0.71% to close at 9681.66 points; The growth enterprise market index fell 0.77% to close at 1861.48 points. The turnover of Shanghai and Shenzhen stock markets was only 799.3 billion yuan, a decrease of 196.1 billion compared with the previous trading day.

　　Most of the industry sectors closed down.、、、The plate was among the top gainers.、、、、、The plate was among the top losers.

　　In terms of individual stocks,The number of falling stocks exceeded 4,000.Glass substrate concept stocks are active again,、、Daily limit Copper foil concept stocks rose sharply at the opening.Daily limit AI PC concept stocks fluctuated and rebounded.、Daily limit Pork stocks rose in intraday trading,2 connecting plates. The stock changed in the afternoon,Daily limit,Up more than 5%. In terms of decline, gold and non-ferrous concept stocks were collectively adjusted.Wait for many stocks to fall more than 5%.

　　The net outflow of northbound funds was 1.967 billion yuan.

　　Northbound funds sold 1.967 billion yuan today, ending three consecutive days of net purchases; The turnover in the whole day was 103.558 billion yuan, accounting for 12.96% of the total turnover of A shares.、、The net sales were 215 million yuan, 195 million yuan and 117 million yuan respectively.The net purchase amount ranked first, amounting to 549 million yuan.

　　Industry capital flow: 167 million net inflow

　　In terms of industry funds, as of the close,,,The net inflow ranked first, including the net inflow of consumer electronics of 167 million.

　　In terms of net outflow,、And other net outflows ranked first, with a net outflow of 2.081 billion yuan.

　　Today’s news

　　National Development and Reform Commission: Expand the consumption of automobiles, home appliances, mobile phones and other goods and services such as cultural tourism.

　　The National Development and Reform Commission held a press conference in May. The spokesman said that in promoting domestic consumption, the National Development and Reform Commission will speed up the implementation of the employment priority policy and do everything possible to stabilize employment, increase income and improve residents’ spending power. Accelerate the trade-in of consumer goods, expand the consumption of automobiles, home appliances, mobile phones and other commodities and services such as cultural tourism, and intensify efforts to cultivate new growth points such as creating new consumption scenarios and new formats.

　　AI PC comprehensive "bright sword" domestic sales of 8688 yuan! Microsoft launches Copilot, fully integrated into Windows 11.

　　A new Surface computer will be launched, following its Copilot+ standard to run.Model; These computers and other computers use arm-basedChip to provide a longerLife span, equipped with AMD andChip computers will also be available; The new function Recall helps to find what you have seen on your PC and provides real-time subtitles translated in more than 40 languages, including Chinese. The new Copilot+Surface Pro starts at $999 and starts at 8688 yuan in China.

　　The first city of low-altitude economy is competing for speed-up: what are all localities fighting for? Who will stand out?

　　Since the beginning of this year, more than ten provinces and cities, including Beijing, Nanjing, Anhui, Shenzhen, Suzhou, Shenyang, Taicang, Wuhan, Tianjin, Shandong, Changsha, Zhangzhou, etc.Relevant action plan or relevant draft for comments. Including Chongqing, Anhui, Jiangxi Gongqingcheng, Suzhou, Guangzhou, Wuhan, Guizhou and many other provinces and cities, have successively launched industrial funds to stimulate industrial development, of which the largest scale is 20 billion yuan.

　　Repurchase+cancellation of 180 billion "milk Mao" is great! Top 20 buybacks released during the year.

　　On the evening of May 20th,The 2023 Annual General Meeting of Shareholders was held, and the Proposal on the Scheme of Repurchase of the Company’s Shares by Centralized Bidding was reviewed and approved. The company intends to buy back shares by centralized bidding, and the amount of repurchase is not less than 1 billion yuan and not more than 2 billion yuan; The repurchase price does not exceed 41.88 yuan/share. All the repurchased shares will be cancelled according to law and the registered capital of the company will be reduced. After the cancellation of restricted stock repurchase, the registered capital of the company decreased from 6,366.09 million yuan to 6,365.96 million yuan. At the same time, 12 yuan will be distributed to all shareholders for every 10 shares (including tax), with a total cash dividend of 7.639 billion yuan, an increase of 1.018 billion yuan over the previous year, accounting for 73.25% of the company’s net profit in 2023. On the evening of May 20th, in addition to the announcement of share repurchase,、、Repurchase plans have been issued one after another, and the purpose of repurchase is almost to reduce the registered capital of the company.

　　Four departments jointly issued a document! Deepen the development of smart cities and develop emerging digital industries according to local conditions.

　　On May 20, the National Development and Reform Commission and other four departments issued "On DeepeningGuiding Opinions on Developing and Promoting Urban Digital Transformation, 13 specific measures are put forward from five aspects: promoting urban digital transformation in all fields, strengthening urban digital transformation support in all directions, and optimizing urban digital transformation ecology in the whole process. Judging from the overall requirements, the Guiding Opinions put forward that by 2027, the digital transformation of cities across the country has achieved remarkable results, forming a number of livable, resilient, and strong support for the construction of digital China. By 2030, there will be a comprehensive breakthrough in the digital transformation of cities across the country, and a number of Chinese-style modern cities with global competitiveness will emerge in the digital civilization era.

　　Institutional point of view

　　: look goodInvestment opportunities in the plate

　　It is pointed out that compared with 2015, today’s real estate policy is different in objectives, means and impact on fundamentals. The real estate policy in 2024 is based on the background of great changes in the relationship between supply and demand of real estate, and it is based on the real demand for affordable housing, with more emphasis on the policy of the city. In addition, the policy attaches importance to avoiding the surge in supply while restoring the hematopoietic function of enterprises. Since this policy is driven by the real demand for commercial housing and affordable housing, and it is expected to be carried out on a large scale mainly in first-and second-tier cities with solid demand, it will take a long time to judge that the housing price has stopped falling and the possibility of an overall increase in core cities after it has stopped falling is very low. Generally speaking, at this stage, the business is more focused on the core cities, the financing channels are smooth, the product capabilities are strong, the local interaction ability is strong, and companies with some high-quality assets are more valuable for investment. Optimistic about investment opportunities in the sector.

　　: continue to be optimistic about the sustained recovery trend of consumption in the second half of the year.

　　It is pointed out that in April, the social security increased by 2.3% year-on-year, and the slowdown in growth rate was mainly due to the reduction of holiday days and the high base. The toughness of compulsory consumer goods is still strong, and the performance of optional consumer goods is differentiated. The post-cycle consumption of real estate in 2024M4 shows differentiation, and it is expected that the consumption of household appliances will further pick up after the policy is launched. Continue to be optimistic about the sustained recovery trend of consumption in the second half of the year, pay attention to the subsequent CPI and consumer confidence performance, and suggest paying attention to the leading consumer goods with brand, product, channel and management advantages.

　　: give priority to stability, and accept it when it is good.

　　The real estate purchasing and storage policy landed, and the down payment and interest rate reduction exceeded expectations, which was beneficial to just need. The bond market reacted calmly, and the stock market first responded to optimistic expectations. Recently, domestic production has been repaired, but domestic demand is generally weak. There are uncertainties in Sino-US relations in the election year of the United States, and the relationship between supply and demand in the A-share market has changed marginally recently. On the whole, we think that we can still be optimistic about A-shares strategically, but we should not be too radical tactically in the short term. We should focus on stability, and we can take the attitude of "taking what is good" in trading. Structurally, we will continue to pay attention to the improvement of export orders and the incremental effect of going to sea, such as, leading household appliances, etc. Pay attention to dividends, colors, etc. on dips.

　　: Pay attention to the high ROE and high FCF faucet.

　　Since the beginning of this year, the rotation speed of the industry and the main line has obviously accelerated, and the range of excess returns of the industry and the main line has obviously narrowed. It is related to the current lack of high prosperity direction, increased policy strength and efficiency, investor sentiment and risk preference, and the capital environment of stock game. However, there is a hidden line behind the rotation of the main line of the industry that the excess returns are steadily increasing. The high ROE and high FCF leader can become a stable and dominant style strategy under the background of stable economic profit, accelerated improvement of free cash flow of enterprises and intensified asset shortage.

Purchase tax subsidy blessing, can I buy the minimum XC90？

Easy car original The purchase tax halving policy that just came out of Taiwan a while ago has undoubtedly brought the slightly deserted car market back to its original temperature. Except for some luxury brand models, almost all fuel models have ushered in their "festivals". And for those models whose price or displacement exceeds the standard, it is not just staring at them. Shortly after the policy was introduced, Volvo launched the preferential information of official subsidy of 50% purchase tax for its medium and large SUV XC90, which also further enhanced the preferential range of this car. After all, at present, the end point preferential price of the minimum model B5 Deluxe Edition 5 seats is only 508,900 yuan. All of this is crazy for the price of nearly one million yuan in the early stage of this generation of XC90. But don’t be too happy, let’s see if this lowest XC90 is worth buying.

The exterior is worthy of the identity of Volvo’s flagship SUV

What’s more interesting is that although the price span of the XC90 series has reached 143,000 yuan, it is difficult to distinguish between high and low-end models only from the appearance. Therefore, the low-end models can be said to be a little cheap here. The iconic front of the car must be very familiar to everyone. The waterfall-style front grille and Thor’s hammer LED daytime running lights are all familiar flavors and familiar formulas. And configurations like adaptive far and near light and fog lights can only be owned by top models.

The XC90 is positioned in the medium and large SUV, with a length, width and height of 4953x1958x1776mm and a wheelbase length of 2984mm, which is on the same level as the size and is slightly smaller. However, in this individual-level luxury brand SUV, the price of the XC90 B5 deluxe version of 5 seats is only 508,900 yuan, which is obviously more cost-effective. In addition, the low-end model has no difference in the side design from the high-end version, and is equipped with a 4-door keyless entry function.

The rear of the vehicle has a unique design style of Volvo, and the Viking-style taillights are always the most outstanding part of the rear of the XC90. In addition, there are not many details on the rear of the car, but it highlights the design concept of Volvo, a Nordic brand that pursues simplicity. The exhaust of the vehicle is also concealed. The rear tailgate of the low-end version also has the function of induction electric, and the difference between the entire rear and the high-end version is only reflected in the logo.

Interior configuration pays attention to practical and comfortable

The interior design of the 5-seat XC90 B5 Deluxe Edition still reflects the strength of a large SUV of a luxury brand. Although its dashboard uses a large area of slush molding process, the addition of light-colored wood grain trim still greatly enhances the texture of the interior. At the same time, the leather package added to the door interior version also makes the interior feel luxurious at the appropriate level.

The steering wheel in the car is wrapped in leather, but the whole series is manually adjusted, and the steering wheel heating can only be obtained by the whole series. The B5 Deluxe Edition 5 seats are equipped with a 12.3-inch full LCD meter, and this part of the quality is not lost because of its low-end model status.

The size of the central control screen in the car is 9 inches, which is consistent with the high-end models. It adopts an embedded design to ensure the integrity of the entire center console. The operating interface of the car system is simple and practical, including navigation, basic voice operation, and vehicle to everything functions. Compared with some multi-functional car systems currently on the market, it pursues practicality and convenience. In addition, Apple CarPlay mobile phone interconnection function has also been equipped.

As far as the configuration of the car is concerned, the XC90 B5 Deluxe Edition 5-seat does not have much luxury to speak of. It is equipped with a large panoramic sunroof, which can be seen in many models today. In addition, configurations such as automatic parking, reversing images, keyless start, automatic anti-glare inner rearview mirrors, etc. are some of the more conventional configurations. However, referring to the high-end models of the XC90, except for the rear manual sunshade and the rear independent air conditioner, they are not much different in the car configuration. Configurations such as wireless charging of the front mobile phone, 360 ° panoramic image, and 19-speaker Baohua Weijian audio are only available on the top model. So it seems that the 5-seat configuration of the B5 Deluxe Edition is not too shabby in the entire XC90 car series.

The car seats are wrapped in leather, and the texture is indeed much better than that of ordinary brand models. The front seats each have a total of 10-way electric adjustment function, and are also equipped with seat heating, the main driver’s seat and seat memory configuration. Since the vehicle adopts a 5-seat layout, the second row of seats cannot be adjusted front and rear like the 7-seat model.

The storage space in the car is still very ample, and like some storage compartments in the central passage area, it can be covered by a sliding cover when not in use, preserving the integrity of the design. There are two USB/Type-C ports at the front and rear of the vehicle, and after the second row of seats is reclined, the car can get a very flat space and has a deep longitudinal dimension.

B5 power fully meets daily needs

The whole series is equipped with a 2.0T engine with a 48V light hybrid power system, and the B5 deluxe version has a single supercharged intake mode for 5 seats, so it has a certain weakening in power data compared with the B6 version. However, its maximum power of 184kW and the maximum torque of 350N · m are enough to make the XC90 meet the needs of daily cars. It is matched with an 8AT gearbox. The shift ball head adopts an ordinary design, and only the top model is equipped with a crystal-style ball head. The most intuitive feeling brought by the intervention of the 48V light hybrid system is that the vehicle can only feel very slight vibration when starting and stopping, and the quality is excellent.

The chassis of the vehicle adopts the independent suspension of the front double fork arm type and the rear multi-link type, and the main components of the suspension are made of aluminum alloy. Most XC90 models still use the configuration of coil spring and shock absorber, only the top model uses air spring, and has height and soft and hard adjustment functions.

Although it is the lowest model, but in the driving auxiliary features, XC90 B5 Deluxe Edition 5 seats or should be fully matched, the vehicle is equipped with full speed adaptive cruise, and lane keeping, lane departure warning, active braking and other functions can greatly reduce the driving intensity and improve safety during driving.

editorial reviewAlthough the number of second-child and third-child families is increasing, it is undeniable that the 5-seat model still has its solid market. After all, for most people, a 5-seat SUV is still the best choice. Therefore, as the only 5-seat model configuration of the XC90 series, the competitiveness of the B5 Deluxe Edition 5-seat is not inferior to several other 7-seat configurations. At the same time, its cheaper price makes it more competitive. In addition, users who buy the XC90 from June 1 to June 30, 2022 can enjoy the purchase tax subsidy policy provided by the manufacturer, and the first owner can also have the right to free maintenance for life, which is really exciting.

According to the Easy Car App, Volvo Asia Pacific has sold a total of 114,505 vehicles in the past year, ranking 40th among all joint venture and autonomous car brands.

The new M7 will be listed today： 258,000 yuan!

Huawei Wenjie M7 was officially released and delivered today. As a revised model, the car adds a five-seat version and HUAWEI ADS 2.0 intelligent driving system, and provides multiple options such as M7 Plus four-wheel drive version, M7 Plus rear drive version and M7 Max intelligent driving version. Pre-sale has been completed, and the pre-sale price is 258,000 yuan.

In terms of exterior design, the new M7 maintains the original design style, and only adds a prominent lidar logo on the smart driving version. The body color offers five options: gilt black, deep space gray, loose frost green, azure blue and ice crystal silver, among which ice crystal silver and azure blue are the main color scheme. The body structure has been upgraded, using new high-strength steel and composite body materials.

The side of the body has not changed much, and the hidden door handle is still used, but a side-view camera has been added to the front fender, which is used in conjunction with Huawei’s ADS 2.0 intelligent driving system. The rear is shaped by a through taillight group, and chrome-plated trim is added to increase the visual layering. In addition, the vehicle also offers optional configurations such as electric pedals, luggage racks and electric suction doors.

In terms of interior, the new M7 continues the minimalist style, only fine-tuning the steering wheel color, in line with the interior theme. The 10.25-inch curved full LCD instrument panel and 15.6-inch central control screen replace most of the physical buttons, and the built-in HarmonyOS smart cockpit system. The interior is made of Nappa leather, and it is equipped with a double-spoke multi-function steering wheel in the same color as the interior, which is full of fashion. In addition, the vehicle is offered in three interior color schemes: Shaohua Apricot, Amber Brown and Polar Night Black.

Huawei ADS 2.0 intelligent driving system is equipped with 27 sensors, including overhead lidar, millimeter wave radar, high definition visual perception camera and ultrasonic radar, which can sense dynamic and static targets in all scenes and all weather, including special-shaped objects.

In terms of power, the new M7 adopts the HUAWEI DriveONE extended range electric drive platform, is equipped with a 1.5T extended range hybrid system, and provides two-wheel drive and four-wheel drive versions. The four-wheel drive version accelerates 0-100km/h in only 4.8 seconds, and the comprehensive battery life can reach 1300km under CLTC conditions. The pure electric battery life is 240km, and the fuel consumption of 100 kilometers is 5.6L. The maximum power of the two-wheel drive version is 200kW, and the comprehensive maximum power of the four-wheel drive version is 330 horsepower.

Hot spots of the week ｜ China will completely cancel the restrictions on foreign investment access in manufacturing; Jianghuai intends to transfer the assets of Weilai Factory; Expose Wang Sicong to o

1. In the first three quarters of this year, China’s GDP increased by 5.2% year on year.

According to the data released by the National Bureau of Statistics on October 18th, the gross domestic product (GDP) of China in the first three quarters of this year was 91,302.7 billion yuan, an increase of 5.2% at constant prices. Among them, GDP in the third quarter increased by 4.9% year-on-year. In the first three quarters, the national economy continued to recover, production and supply increased steadily, market demand continued to expand, and the quality of development improved steadily. (Xinhua News Agency)

2. China will completely cancel the restrictions on foreign investment access in manufacturing.

China announced eight actions to support the high-quality construction of the Belt and Road Initiative. In the action of "supporting the construction of an open world economy", it was mentioned that the restrictions on foreign investment access in the manufacturing sector would be completely lifted. This is a further step on the basis that China’s manufacturing industry has basically opened up and the negative list manufacturing industry in the free trade pilot zone has been cleared. (China News Network)

3. The Ministry of Commerce responded to the US semiconductor export control to China.

Ministry of Commerce: China has noticed that on October 17th, the United States issued the final rules on the export control of semiconductors to China. On the basis of the provisional rules issued on October 7 last year, the final rules further tightened the export restrictions on artificial intelligence-related chips and semiconductor manufacturing equipment to China, and added a number of China entities to the "list of entities" for export control. The United States continues to generalize the concept of national security, abuse export control measures and implement unilateral bullying. China is strongly dissatisfied with this and resolutely opposes it. (Ministry of Commerce)

4、The Ministry of Natural Resources issued a document proposing to cancel the land price ceiling.

At the end of September, the Ministry of Natural Resources has issued documents to the natural resources authorities of various provinces and cities, including: it is suggested to cancel the land price limit in land auction, and it is suggested to cancel the plot ratio limit of 1.0 in the outer suburbs. According to several sources, Jinan, Nanjing, Hefei, Ningbo, Suzhou, Chengdu, Xi ‘an and other cities have taken the action of "canceling the land price ceiling", and most cities will delete the land price ceiling in the next batch of land transfer documents. Core cities such as Beijing and Shanghai are still studying how to adjust the bidding rules. (Economic Observer Network)

Last year, the number of children born in China was less than 4.5 million.

The Statistical Bulletin on the Development of China’s Health Care in 2022 recently published by the National Health and Wellness Commission shows that in 2022, the number of births of one child in China was 4.41 million, the number of births of two children was 3.72 million, and the number of births of three children and above was 1.43 million (rounded to the nearest whole number). (National Health Commission)

17c2fb612a7dc4f8a1ec09ac199118d8.jpegIn June and September, China did not import any aquatic products from Japan.

According to data released by the General Administration of Customs on the 18th, in September, China’s aquatic products imported from Japan were "zero". In the monthly report of China’s import and export statistics just released by the General Administration of Customs today, there is no record of "fish and other aquatic invertebrates" imported by China from some countries (regions) in September. (Global Times)

7. Shanghai became the first first-tier city to implement the provident fund "recognizing housing but not loans"

Shanghai announced the optimization of housing provident fund individual housing loan number identification standard. If it is clear that the employee’s family has no housing in this city, has not used the housing provident fund personal housing loan in the country or the first housing provident fund personal housing loan has been settled, it will be recognized as the first set of housing. (21st century business herald)

8. The price of Grade-8 lithium carbonate "rose three times in a row"

Recently, the price of battery-grade lithium carbonate, the core raw material of lithium batteries, has risen. As of October 16th, the price of battery-grade lithium carbonate has maintained an upward trend for three consecutive trading days. From the perspective of downstream demand, industry insiders said that local policies to promote automobile consumption continued to exert their strength, and new products of superimposed automobile enterprises were listed on the market to stimulate the release of demand. It is expected that the sales of new energy vehicles will continue to rise in the fourth quarter. (china securities journal)

9. TSMC is expected to mass-produce 2nm process chips in 2025.

Wei Zhejia, president of TSMC, disclosed at the legal person briefing that TSMC is expected to mass-produce 2nm process chips in 2025. It is said that the OEM price of TSMC’s 2nm wafer is as high as $25,000, while that of 3nm wafer is $20,000. TSMC’s plant in Arizona, USA, plans to start mass production in the first half of 2025, and the plant in Japan is expected to start mass production by the end of 2024. (First Electric)

390e48069a10565e54475f9826e1f8fe.png10. Weilai responded to the proposed transfer of factory assets.

On the evening of October 19th, Jianghuai Automobile announced that the company intends to transfer some assets through public listing, which is actually two factories jointly operated by Jianghuai and Weilai-Weilai F1 Factory and Weilai F2 Factory. "The company has learned about the partners and confirmed that this action will not affect the company’s next production and operation activities." The relevant person in charge of Weilai responded that the company will address relevant issues at an appropriate time.Communicate, and will not comment on this matter before. (national business daily)

11. Q3 net profit decreased month on month.

Contemporary Amperex Technology Co., Limited (300750) disclosed that the third quarter report showed that the company achieved revenue of 294.677 billion yuan in the first three quarters, a year-on-year increase of 40.10%; The net profit of returning to the mother was 31.145 billion yuan, a year-on-year increase of 77.05%. The company’s provision for asset impairment in the first three quarters totaled 3.097 billion yuan, which will reduce the company’s net profit for the first three quarters by 2.629 billion yuan. Among them, Contemporary Amperex Technology Co., Limited Q3 achieved revenue of 105.431 billion yuan, an increase of 8.28% year-on-year; The net profit of returning to the mother was 10.428 billion yuan, a year-on-year increase of 10.66%. According to the previous financial report, the company’s Q2 net profit was 10.895 billion yuan, and the Q3 net profit decreased by 4% from the previous month. (First Electric)

12. Xiaomi discussed vehicle OEM with BAIC and Brilliance.

It was learned from people close to Xiaomi that at the end of August this year, Xiaomi Automobile was in contact with Jianghuai Automobile to discuss matters related to OEM of new energy vehicles, but the two sides did not reach a final cooperation. In October, Xiaomi Automobile began to contact Beiqi Blue Valley and Brilliance Automobile to conduct cooperation negotiations on production and other matters. According to the person familiar with the matter, the cooperation between Xiaomi Automobile and BAIC has been further promoted, and both parties intend to enter deeper negotiations. However, the specific form of cooperation is still unknown. Informed sources said that after the first sedan, Xiaomi also plans to produce an SUV model on the line, but Xiaomi does not consider rebuilding the production line for the time being. (Interface)

13. Xiaomi will launch a new operating system.

Lei Jun announced in his personal Weibo that Xiaomi will launch a brand-new operating system, Xiaomi HyperOS. This is an epoch-making milestone for Xiaomi, and it is a key leap towards "the whole ecology of people, cars and homes". (First Electric)

14. The gross profit margin of automobiles turned positive for the first time.

Zero-run cars were announced on the Hong Kong Stock Exchange. The announcement showed that during the period, the company’s gross profit margin turned positive for the first time to 1.2%, achieving the goal of turning gross profit into positive ahead of schedule; The single-season sales revenue was 5.656 billion, up 31.9% year-on-year, and the sales volume reached 44,325 units, up 24.5% year-on-year, reaching a new high in the double-creation quarter. The net cash generated from operating activities continues to flow in. (First Electric)

15. Officially enter the Hungarian passenger car market.

A few days ago, BYD officially announced its official entry into the Hungarian passenger car market. BYD ATTO 3 (Yuan PLUS) and three pure electric models made their debut in Hungary. Since it was announced to enter the European passenger car market at the Paris Motor Show in 2022, BYD has entered 19 European countries. Hungary is BYD’s first Central and Eastern European market, which marks another important milestone for BYD to expand its global layout. (First Electric)

681538e1gy1hizpmjcnnij218y0u0aix.jpg16. Deny that the founder ran overseas.

Weimar Automobile issued an announcement in Weibo, clarifying some recent remarks, saying that it did not file for bankruptcy, and the pre-reorganization was to avoid bankruptcy self-help. At present, the company’s core positions are operating normally, and it is also said that the information uploaded by the current network, such as the founder running overseas and Weimar financing of 40 billion, is false information. (First Electric)

17. Exposed Didi Travel plans to be listed in Hong Kong next year.

According to insiders, Didi Chuxing plans to be listed on the China Hong Kong Stock Exchange next year, and the current employees have been informed to allow them to sell their shares back to the company according to the employee stock ownership plan. Didi Chuxing was listed on the New York Stock Exchange on June 30, 2021, but only every two days, the National Network Information Office issued a notice to conduct a network security review. On June 2, 2022, Didi submitted an application for delisting. (First Electric)

image.png18. Chen Siying, CEO of Auto Wei Brand, left his post.

Chen Siying, CEO of Great Wall Great Wall Motor Weipai, announced his departure from Weipai on his personal social account. Wei Pai was born in 2016, with the goal of becoming a world-class luxury SUV brand and a benchmark brand of China Automotive Intelligence. In 2018, it sold 140,000 vehicles. However, since then, the lack of explosions has started to decline year by year. In 2022, the annual sales volume was only 36,400 units. The overall management of the brand is also chaotic. According to public information, Wei Pai has replaced six CEOs since its establishment. (First Electric)

19. The new version of Model 3 Huan officially opened for sale.

On October 19th, the new version of Tesla Model 3 Huan was officially launched for sale, and the first delivery will be started at the end of October. The car was pre-sold in Chinese mainland on September 1st, and the price has not changed since it was officially sold. The new version of the rear-wheel drive is priced at 259,900 yuan, and the new version of the long-life all-wheel drive is priced at 295,900 yuan. Previously, First Electric had learned from Tesla sales staff that the other party claimed that if the price of 259,900 yuan was sold well, there would be a high probability that the price would not be reduced, and if it was not sold well, it might fall. (First Electric)

WechatIMG274.jpg20. Tesla Cybertruck will be officially delivered on November 30th.

Tesla officially announced that the world’s first delivery will be carried out at the Texas Super Factory on November 30, but the specific configuration and price of Cybertruck have not been announced. It is worth noting that Cybertruck has not opened the reservation channel on Tesla’s China official website. Cybertruck is an all-electric pickup truck launched by Tesla. Since the release of Cybertruck in November 2019, this model, which is full of cyber style and futuristic design, has been receiving much attention. (First Electric)

001Ve2Mhly1hj0d727rlzj60ty1k0gqg02.jpg21, ask M9 has officially offline.

Recently, Yuan Jiajun, secretary of Chongqing Municipal Party Committee, went to the intelligent production workshop of Sailis No.3 Factory, and it can be seen that the M9 has been officially off the assembly line, and Sailis also showed off this new car. This time, the white model M9 was unveiled. On the picture, the front of the car is rounder, and it is designed with penetrating daytime running lights. The lidar on the roof is very eye-catching. Wenjie M9 is positioned as a large SUV, and the new car will be launched in December, with a pre-sale price range of 500,000-600,000 yuan. Yu Chengdong called it "the best SUV in 10 million". (First Electric)

WX20231019-154647@2x.png22, the ideal MEGA pure electric MPV official map

The CEO released two real car maps of the ideal MEGA in Weibo with the caption "Guess the drag coefficient directly". According to the plan, the new car will be officially released in December, and will be delivered in February next year, equipped with Contemporary Amperex Technology Co., Limited Kirin battery, which is expected to be more than 500,000 yuan. (First Electric)

4a23d069gy1hiy0mwyv11j21t90zpnjj.jpg23, Tucki X9 boarding vehicle purchase tax exemption directory.

On October 19th, the Ministry of Industry and Information Technology announced today the Catalogue of New Energy Vehicles Exempted from Vehicle Purchase Tax (the seventieth batch), including 46 passenger cars, 17 pure electric buses, 13 passenger cars and 1 plug-in hybrid bus. Including Tucki X9: cruising range 640/702/610km(CLTC). (First Electric)

iShot_2023-10-19_23.00.48.png24. Delivery of the 100,000th vehicle of D9

Zhao Changjiang, general manager of Tengshi Sales Division, issued a document in Weibo, saying that the 100,000th car owner should go hand in hand to witness Tengshi speed! Cao Huicheng, the son of Cao Dewang, the "King of Glass", the vice chairman of Fuyao Group, became the 100,000 th owner of Tengshi D9. (First Electric)

722e3693gy1hix6173837j23h02bcqv6.jpg25. Zhijie S7 went offline in batches and was officially listed in November.

The length, width and height of Zhijie S7 are 4971*1963*1474mm and the wheelbase is 2950mm, respectively. It locates a large-space smart coupe. In addition to the first 4(HarmonyOS 4 intelligent cockpit and Huawei’s advanced intelligent driving system ADS 2.0, the new car looks very unique, and there is also a "big" driving space. Yu Chengdong even said without stint that its positioning specifications will surpass Tesla Model S.. (First Electric)

a2c3a443gy1hivwfvxywoj20zj0qojxt.jpg26. BYD Song L’s interior map was released, with an estimated price of 250,000 yuan.

After several warm-ups, BYD finally released the interior photos of the new SUV model Song L, which will be officially launched in the fourth quarter. Generally speaking, BYD Song L gives people a brand-new feeling, which can meet the needs of aesthetics, technology and comfort at the same time, and it can be said that it has broken the inherent impression of its "cheap feeling". (First Electric)

Wechat screenshot _20231014150015.png27. The 50th Galaxy L7 officially rolled off the assembly line.

Since the listing of Geely Yinhe L7 on May 31st, it took 33 days to quickly open the market. On July 3rd, it was announced that the first intelligent hybrid product of "Geely Yinhe" series, Geely Yinhe L7, was officially rolled off the assembly line in Baoji factory. From 10,000 to 50,000 vehicles, it took less than four months.

5582a3cfgy1 HIV P1 umpboj21900u0wo1 _ copy. jpg28. Wang Sicong was exposed to order one.

Wang Sicong was exposed to have ordered an ideal L9. He himself appeared in the ideal store, and a suspected ideal staff member took a photo with him and sent out a screenshot of the order. The netizen said: "I believe that consumption has been downgraded, and Wang Sicong has started to buy 400,000-class cars …" "Unexpectedly, one day, I will become a car friend with Wang Sicong." "Times have changed, and President Wang has returned to his family." "It turns out that Wang Sicong didn’t buy it until the discount was big." (First Electric)

29. The time limit for listing of Nezha X is 108,800.

Nezha X, a brand-new pure electric SUV model in Nezha, has been officially launched. It has launched four models, with the price range of 126,800-146,800 yuan, and can enjoy the interest of 2,000 yuan deposit to 20,000 yuan within a limited time (ending on November 30), that is, only 10.88-128,800 yuan. After the launch, the car will compete with BYD Yuan PLUS, GAC Ai ‘an Y PLUS and other models.

007QtMdagy1hiznfk532jj31td10onk6.jpg30. The listing price of Wei brand Gaoshan is 335,800-405,800 yuan.

Gaoshan, the first luxury MPV model of Wei Brand, was officially launched. The new car was launched in two versions, of which the regular version for the travel market was priced at 335,800-375,800 yuan, and the customized four-wheel drive executive extended version for business reception was priced at 405,800 yuan. The exclusive rights of up to 36,000 yuan were launched together, and the two were matched with each other to jointly attack the luxury MPV market. (First Electric)

WechatIMG464.jpg31. The new long wheelbase E-Class was officially released.

The new car is developed based on MRA platform and will be officially launched this year. The length of the car is 5092 mm, the width is 1880 mm, the height is 1493 mm and the wheelbase is 3094 mm. Equipped with 8295 intelligent cockpit chip, China’s exclusive L2+ navigation assisted driving (high-order intelligent driving), China’s exclusive over 10 luxury and comfortable rear seats, China’s exclusive "meteor-catching" light carpet, and China’s exclusive 360-degree ambient light. (First Electric)

006 of 1xily1hixd9ldwc0j32bc1jlu0y _ copy. jpg32. The blind subscription price of Star Age ES is 260,000-360,000 yuan.

Star Road Star Era ES officially opened blind booking, and the price range of new car blind booking is 260,000-360,000 yuan. In terms of new car size, the new car is 4945mm long, 1978mm wide, 1489/1480/1467mm high and 3000mm wheelbase. The comprehensive battery life is 720km, the power consumption under CLTC condition is 11.7kWh/100km, the battery life can be 150km after charging for 5 minutes, and the energy can be replenished by 30% to 80% after 15 minutes. (First Electric)

00828kInly1hixact28tyj30u60k4gp1.jpg33. Starlight made its official debut and went on the market in late November.

Wuling Xingguang debuted and will be listed in late November. It will be equipped with two latest technological achievements: Wuling Lingxi hybrid system and Shenlian battery. According to the official, Shenlian battery can be called a "pentagonal warrior", in which it can achieve no fire and zero spontaneous combustion in terms of high safety! (First Electric)

0069HxL1ly1hixfpkr3dkj31u00uok01.jpg34. The listing guide price of Nexo China Edition is 800,000 yuan.

The new car is positioned as a battery SUV with a length, width and height of 4680/1860/1640mm and a wheelbase of 2790mm. In terms of power, the maximum power of the driving motor is 120 kW, the maximum torque is 395 Nm, and the maximum speed is 179 km/h. Adopt front wheel drive. The hydrogen fuel filling time of the new car is about 5 minutes, and the endurance under CLTC condition is 550 kilometers. (First Electric)

iShot_2023-10-16_22.22.37.png35. Lumin 301km fast charging model was officially launched.

On October 18th, Changan Lumin 301km Honey Qin (Fast Charge) was officially listed, with an official guide price of 61,900 yuan. Thanks to its leading 300V voltage battery platform, it can complete 30% to 80% power replenishment in 35 minutes. The combination of fast charging and +301km battery life can realize inter-provincial travel while walking and charging.

36. Canon introduced nano-imprint semiconductor manufacturing equipment.

On October 13th, Canon Corporation of Japan announced the launch of FPA-1200NZ2C nano-imprint semiconductor manufacturing equipment, which performs circuit pattern transfer, which is the most important semiconductor manufacturing process. Nano-imprint lithography is to coat photoresist (PR) on the wafer, and then press a stamp with a specific pattern to form a circuit. Because it does not use a lens, it can realize a fine process at a lower cost than the existing exposure process. (First Electric)

37, 300mm SOI wafer manufacturing technology to achieve a major breakthrough.

Recently, the team of Wei Xing, a researcher from Shanghai Institute of Microsystems, made a breakthrough in the manufacturing technology of 300mm SOI wafer, and produced the first 300mm RF)SOI wafer in China. Based on the 300mm SOI R&D platform of the National Key Laboratory of Integrated Circuit Materials, the team successively solved many core technical problems such as preparation of low-oxygen and high-resistance crystals, deposition of low-stress and high-resistivity polysilicon thin films, and non-contact planarization required for 300mm RF-SOI wafers, and achieved a major breakthrough in the domestic 300mm SOI manufacturing technology from scratch. The independent preparation of 300mm RF-SOI wafers will strongly promote the coordinated and rapid development of the whole industrial chain of domestic RF-SOI chip design, OEM and packaging, and provide a solid guarantee for the supply security of domestic SOI wafers. (China Academy of Sciences Shanghai Microsystems Institute WeChat WeChat official account)

Huawei and Tucki made a big deal, and the car owners were finally willing to pay the bill.

Among the more than 50,000 orders of the new M7, about 33,000 units are intelligent driving versions, including five MAX and six MAX versions; According to the data of Tucki, the redesigned G9 will exceed 15,000 units in 15 days, of which the MAX version accounts for more than 80%. The MAX version refers to the version with dual lidar and dual OrinX computing chips, which supports urban NGP; Previously, the predetermined proportion of MAX version of G6 also exceeded 70%; According to Baojun’s information, after opening the store for a test drive, the Linxi version accounted for more than 80% of the orders in Shanghai in October, which is also commonly known as the "DJI version".Intelligent driving version crosses the gap: over 60% in the world M7 and 80% in Tucki G9.The five-seat version accounts for 81%, the MAX version accounts for 57.5% of the five-seat version, and the optional rate of ADS high-end smart driving bag in the five-seat MAX version is 70%; The six-seat version accounts for 19%, of which the MAX version accounts for 71%, and the optional installation rate of the six-seat MAX high-end smart driving package is 68%. Zhou Shuo, deputy general manager of SAIC-GM-Wuling Brand Division, predicted before Yunyun went public that Lingxi Zhijia Edition is expected to account for 30-40% of all orders of Yunyun; After the National Day, Zhou Shuo mentioned a new data in Weibo. From the Shanghai area, the scheduled proportion of Linxi edition in October exceeded 80%.Why does the smart driving version sell well?Follow-up trend of mainstream car companiesAouita,Huawei HI modeRepresentative, Aouita’s smart driving is actually standard; Changan plans to cover low-level to high-level full-stack intelligent driving schemes from this year to the beginning of next year, and realize the whole system of Changan in the follow-up.Class L2 assisted driving is standard;Dongfeng’s Lantu recently launched a new Lantu FREE, standard.Baidu ApolloThe software subscription fee for the intelligent driving system provided is 10,000 yuan; BYD started to drive intelligently from looking up to Tengshi brand. At the end of September, Tengshi N7 added a new version based on.Orin N platformThe high-speed smart driving bag is built to improve the penetration rate of the high-order smart driving function of the model.

More exciting content, pay attention to titanium media micro-signal (ID: taimeiti), or download titanium media App.

Growth enterprise market index fell by 1.37%, northbound funds sold by 4.4 billion yuan, and the precious metals sector rose against the trend.

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　　The three major indexes of A shares fell collectively,It fell by nearly 1.4%, and the net sales of northbound funds exceeded 4 billion. On the disk, the mining industry rose sharply, and Tongyuan Petroleum, Baken Energy, Bomaike, Zhongman Petroleum and Renzhi shares rose daily. The precious metals sector strengthened, Sichuan gold rose daily, and Zhongrun resources rose by more than 8%. Diet pills, oil, gas, jewelry, aerospace and other sectors are in the forefront of the increase list. Energy metals, semiconductors, Chiplet concepts, memory chips, PVDF concepts, batteries, fluorine chemicals and passive components performed poorly, leading the market down.

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　　As of the close of noon,Down 0.40% to 3075.80 points; The Shenzhen Component Index fell 0.99% to 9968.99 points; Growth enterprise market index fell 1.37% to 1969.24 points; The Science and Technology 50 Index fell 1.49% to 878.47 points. The total turnover of the two cities in half a day was 525.2 billion, and the net sales of northbound funds was 4.415 billion.

　　The closing rate of 45 shares is 67.16%.

　　In terms of daily limit stocks, as of noon closing, a total of 45 stocks had daily limit, and another 22 stocks once touched the daily limit, with a closing rate of 67.16%.

　　In terms of individual stocks, the auto sector has multiple daily limit, Shenglong shares have 15 days and 8 boards, and Jintuo shares and Beiqi Blue Valley have daily limit; Oil and gas stocks rose collectively, with daily limit of Tongyuan Oil, Beken Energy, Bomaike and Zhongman Oil. Gold stocks fluctuated and strengthened, and Sichuan gold rose daily; The concept stocks of diet pills continue to be active, and Baihua Medicine and Shuanglu Pharmaceutical have daily limit; The concept stocks of computing power fluctuated and rebounded, and Sichuan Changhong, Tongfang, and Tefa Information had daily limit; Military stocks changed in intraday trading, Morning Air rose more than 10%, and Zhongtian Rocket had a daily limit. In terms of decline, chip stocks collectively adjusted to make a good limit.

　　Northbound capital: net outflow of 4.415 billion yuan.

　　As of midday, there was a net outflow of northbound funds, of whichThe net outflow was 1.994 billion yuan, and the net outflow of Shenzhen Stock Connect was 2.421 billion yuan, totaling 4.415 billion yuan.

　　industryDirection: 370 million inflows of precious metals

　　In terms of industry funds, as of noon closing, precious metals, mining industries, etc.Ranked high, with a net inflow of precious metals of 370 million yuan.

　　In terms of net outflow, the net outflow of optical optoelectronics and semiconductors ranks high, of which the net outflow of optical optoelectronics is 3 billion yuan.

　　Transaction amount of individual stocks TOP10

　　In terms of the turnover of individual stocks, as of the close of noon, Cyrus ranked first in the two cities, with a turnover of 7.433 billion yuan; Shenzhen O-film Tech Co.,lt ranked second with a turnover of 6.678 billion yuan.

　　Today’s news

　　The adjustment and optimization of securities lending related systems is conducive to activating the market and boosting confidence.

　　On October 14th, the CSRC adjusted and optimized the system of securities lending and strategic investors’ lending of allotment shares, and tightened the securities lending and strategic investors’ lending of allotment shares in stages on the premise of keeping the system relatively stable. On the same day, the Shanghai and Shenzhen Stock Exchanges issued "On Optimizing Securities Margin Trading andThe notice on relevant arrangements for securities lending transactions further refines the relevant rules, and the increase in the margin ratio for securities lending will be implemented as of October 30, and other provisions will be implemented as of October 16. Tian Lihui, dean of the Institute of Financial Development of Nankai University, told the Securities Daily that the optimization of the securities lending system has increased the cost of securities lending, constrained the insider’s securities lending behavior, and demonstrated that the regulatory authorities are advancing with the times on the premise of respecting the market. Strengthen the responsibility and actions of "countercyclical adjustment".

　　The central bank continued to exceed 789 billion yuan, and the MLF interest rate remained stable.

　　The central bank launched a 7-day reversal of 106 billion yuanOperation and 789 billion yuan one-year MLF operation, won the bid.Both are flat, 1.8% and 2.5% respectively. Today, there are 240 billion yuan of reverse repurchase and 50 billion yuan of treasury cash deposits due.

　　40 billion! The securities industry today targeted "RRR cuts"!

　　China Securities Depository and Clearing Co., Ltd. will formally implement the arrangement of reducing the minimum settlement reserve for stock business on October 16, 2023. After the implementation, the proportion of reserve payment will be reduced from the original 16% to the expected target of 13% on average, which is nearly 40 billion yuan compared with the funds released in September.

　　Good news! ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, Postal Savings Bank and Bank of Communications announced fee reduction and profit reduction.

　　In order to further guide the banking industry to support the development of the real economy and enhance people’s financial consumption experience, on October 12th, under the guidance of the regulatory authorities, China Banking Association issued the Proposal on Adjusting the Price of Some Banking Services to Improve the Quality and Efficiency of Services. Specifically, the fee reduction and profit-making projects involve bill handling fee, cost, personal deposit account statement printing fee, cost of security authentication tool, credit card transaction reminder, overpayment transfer fee, annual fee replenishment mechanism, repayment time and tolerance service mechanism, etc. As of October 13th, Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China, Bank of Communications, etc. have announced that they will actively respond to the initiative of China Banking Association, increase the efforts to reduce fees and make profits, and continuously optimize customers’ financial experience, but the specific implementation details and implementation time need to be announced later.

　　Pan Gongsheng, the governor of the central bank, recently voiced that monetary policy should continue to exert efforts and take advantage of the situation

　　Pan Gongsheng said that in the next step, China will pay more attention to the balance between economic growth and sustainability and actively promote high-quality and sustainable development on the basis of maintaining a reasonable growth rate. In terms of monetary policy, Pan Gongsheng said that China’s prudent monetary policy is precise and powerful, and it has intensified countercyclical adjustment, effectively responding to domestic and international risk challenges and consolidating the economic recovery. In the next step, we should continue to exert ourselves and take advantage of the situation, give full play to the dual functions of monetary policy tools, focus on expanding domestic demand, boost confidence, accelerate the virtuous circle of the economy, and provide stronger support for the real economy.

　　After the holiday, non-stop research on pharmaceutical stocks and diet pills has attracted special attention.

　　The attention of institutions to the pharmaceutical sector is increasing. In terms of funds, more than one pharmaceutical stock has boarded in the past week.Many institutions continue to increase their positions. ConggeFrom the point of view, some strategy chiefs once again listed the pharmaceutical sector as one of the key sectors in the fourth quarter. In addition, in just one week after the National Day holiday, many pharmaceutical companies have accepted dozens of well-known companies..

　　Public offering to play new music is tireless in order to enhance income.

　　Since this year, participationPublic offeringThe number of products reached 4,848, and the total amount allocated reached 46.056 billion yuan, of which 74% of equity funds in the whole market participated.. The market continues to fluctuate, and innovation is considered to be one of the important ways for Public Offering of Fund to obtain low-risk absolute returns. The data shows that dozens of small-scale funds this yearFor itContributed at least 2 percentage points of income.

　　The latest shareholding exposure of social security fund! Appeared in a number of A-share companies favor these stocks.

　　With the disclosure of the third quarterly report of listed companies in 2023,The fund’s position trend also shows the tip of the iceberg. The latest three quarterly reports that have been disclosed at present show that social security funds have appeared in the top ten of a-share listed companies in the third quarter of this year.Among them, companies with relatively stable operation and performance are generally favored.

　　Institutional point of view

　　Guosheng Securities: It is expected that the demand for home furnishing in the peak season of "Golden September and Silver 10" will continue.

　　Guosheng Securities Research Report pointed out that household consumption recovered during the 11th period, and the growth of Q4 leader is expected to accelerate. All home stores have started the "home rejuvenation consumption season" nationwide, and all regions have actively cooperated with the government to issue and undertake electronic coupons. We expect that the demand in the "Golden September and Silver 10" peak season will continue, and there is still room for improvement in the demand of first-and second-tier cities under the catalysis of policies, and the growth of home leading performance is expected to accelerate under the low Q4 base.

　　Guotai Junan: The siphon effect in the beauty industry is further enhanced.

　　Guotai Junan Research Report pointed out that the siphon effect of the beauty industry was significant in 2023, and it is expected that the growth rate of the Double Eleven will improve. Under the background of slow recovery of the consumption market, consumers tend to concentrate on buying when the big promotion discount is strong, so the siphon effect of the beauty market in 23 years has been further enhanced. Specifically, the growth rate of brands in Q1 and Q3 has dropped significantly in the off-season, but the head beauty companies in Q2 have made marginal improvements under the catalysis of 618. We expect that the beauty industry is expected to see an improvement in growth rate under the catalysis of the annual big promotion and double eleven.

　　Dongguan Securities: The pharmaceutical sector is at a relatively low valuation in the past decade, and the sentiment of the sector continues to pick up.

　　Dongguan Securities Research Report pointed out that the over-allocation rating of the pharmaceutical and biological industries should be maintained. The diet medicine industry chain has driven the plate sentiment to continue to pick up. In the sub-edition, GSK is the exclusive agent of Zhifei Bio.The heavy products of herpes zoster are good for stimulation, and the vaccine sector is among the top gainers this week. At present, the pharmaceutical sector is at a relatively low valuation in the past decade, and the sentiment of the sector continues to pick up. We can be moderately optimistic about the current position of the sector, and follow-up suggestions are to pay attention to structural opportunities such as diet pills industry chain, innovative drugs and medical services. The concerned sectors include medical equipment: Mindray Medical, UIH Medical and Australian-Chinese Endoscopy. Pharmaceutical business: Yifeng pharmacy, Dashenlin, Yinxintang. Medical beauty: Aimeike, Huadong Medicine, etc. Chinese medicine: China Resources Sanjiu, Tongrentang, Yiling Pharmaceutical; Innovative drugs: Hengrui Pharma, Huadong Medicine, etc.

　　Zheshang Securities: It is expected that monetary policy will continue to be loose.

　　Zheshang Securities Research Report pointed out that the total amount of credit was stable in September, but the resilience of the structure was relatively weak. We believe that China’s economy is still in a weak repair period, and credit data is still driven by "supply". Relevant policies are still needed to continue to pull "demand". As of September, we estimated that the excess savings balance of residents was 7.27 trillion yuan, an increase of about 93.7 billion yuan over the previous month, and continued to accumulate. In September, both the growth rates of M2 and M1 dropped, and the growth rate of M1 dropped to 2.1%, which means that the economic vitality still has room for repair. Generally speaking, we expect monetary policy to continue its loose tone, but the broad currency may converge and the focus will shift to broad credit. For large-scale assets, it is expected that China’s fundamental policies may be gradually strengthened, stocks attach importance to cyclical investment opportunities, and bonds remain volatile.

　　Ping An Securities: Structural warming characteristics are heating up.

　　Ping An Securities Research Report pointed out that A shares continued to consolidate last week, and the performance of electronics and automobile industries was relatively dominant, with obvious structural recovery characteristics. On the whole, although the short-term overseas risk disturbance still exists, the direction of marginal improvement of domestic economy and sustained efforts of policies has not changed, and the cost-effectiveness ratio of A-shares that have been adjusted to the relatively bottom area will gradually emerge in global risk assets. Structurally, it is suggested to continue to pay attention to the pro-cyclical dividend strategy, the pharmaceutical sector with a warmer market sentiment, the automobile sector with a rebound and transformation, and the TMT sector under the wave of technological trends.

　　CITIC Securities: Continue to pay attention to Huawei’s industrial chain and the "Kunpeng+Shengteng" ecology.

　　Citic Securities Research Report pointed out that overall, the global semiconductor boom has gradually bottomed out in Q2 this year. In September, the launch of Huawei+Apple’s new machine is expected to drive a new wave of rotating machines, and Q3 will start to consume electronics or enter the traditional peak season. The bottom of the memory chip cycle is clear, and DRAM/NAND welcomes the price increase; The performance of digital chips is divided, the downstream demand such as mobile phones and PCs is gradually recovering, and the demand related to AI is in an explosive growth stage; Analog chips are still waiting for the recovery of downstream demand, and the industry is under short-term pressure. Breakthroughs in core "stuck neck" links such as chips also boosted market confidence. In the short and medium term, it is suggested to continue to pay attention to Huawei’s industrial chain and the "Kunpeng+Shengteng" ecology. In the long run, the upstream high-end equipment, parts and materials will be the most direct beneficiaries of domestic alternative logic. Follow-up should continue to pay attention to Huawei’s shipments, chip yield, orders and further restrictions in the United States.

　　GF Securities: Social integration was acceptable in September, and it is expected to continue to be repaired this year.

　　GF Securities Research Report said that the current market pricing impact clues are more complicated and diversified; Objectively speaking, the social integration data in September is still relatively positive. Looking back, the total amount of social integration still has the kinetic energy to be further repaired during the year. First, the central bank’s meeting on August 18th explicitly demanded that "major financial institutions should take the initiative and increase the lending, and state-owned banks should continue to play a pillar role", which is obviously different from the "moderate total amount and steady pace" at the beginning of the year. Second, corporate bonds have a low negative feedback base in the bond market in the fourth quarter of last year; The third is the stock mortgage.After the adjustment, the early repayment behavior of residential departments may be reduced; Fourth, a new round of debt securitization may bring about some social integration increments. The social financing structure may also be optimized, and long-term loans in the enterprise sector may be affected by debt conversion, but the actual financing demand should not be too bad in the environment of profit recovery and centralized issuance of special bonds.

　　China CITIC Construction Investment Co., Ltd.: Huawei’s cross-border orders continue to exceed expectations, and related industrial chains are expected to benefit.

　　Citic Jiantou pointed out that the latest data of the Association showed that the wholesale sales volume of passenger cars in September was 2,451,700, +6.8% year-on-year and+9.6% quarter-on-quarter; Retail sales were 2,018,500 vehicles, up +5.0% year-on-year and+5.0% quarter-on-quarter; The wholesale of new energy passenger cars was 829,000, +23.0% year-on-year and +4.2% quarter-on-quarter, corresponding to the electrification penetration rate of 33.81%; On September 25-30, it retailed 128,600 vehicles, which was-5% year-on-year; Wholesale 153,500 vehicles, -6% year-on-year, and the wholesale end weakened slightly year-on-year. Recently, the new M7, Tucki G9, Zhiji LS6 and other models have been put on the market, and the price bands have dropped significantly. Among them, the new M7 car in the world of inquiry has a high degree of attention. On October 6th, the world of inquiry revealed that it had definitely exceeded 50,000 units, because its own products were strong and coincided with the high attention of Huawei’s mobile phone brand, and the M7 car in the world of inquiry spread in circles. The order of the intelligent driving version exceeded 60%, and the user’s cognition and acceptance of high-level intelligent driving was significantly improved. The automobile supply chain in Wenjie is improving its production capacity, and the parts with high value and high share are expected to benefit.

　　CICC: Focus on three main investment lines in combination with the results of the third quarterly report.

　　The research report of CICC believes that three main investment lines should be paid attention to in combination with the performance of the third quarterly report. As the profitability of listed companies is expected to improve marginally, compared with the first half of the year, it is suggested to increase the allocation weight in the fields of performance cashing and fundamental improvement. At present, high-growth areas are still relatively scarce, so it may be an important investment idea to grasp the fundamental inflection point and repair elasticity. In the stage of performance forecast and report disclosure of the third quarterly report, we should focus on: 1) the booming areas where the performance of the third quarterly report may exceed expectations or improve month on month. 2) The sub-sectors of scientific and technological growth that conform to new technologies and trends and have industrial catalysis, such as communications, semiconductors, consumer electronics, etc., which are expected to benefit from industrial autonomy and their own industrial prosperity improvement, and the pharmaceutical organisms that have been adjusted more in the early stage and have marginal mitigation expectations in industrial policies are also worthy of attention. 3) The improvement of demand, the improvement of supply pattern such as inventory and production capacity, and the areas with strong performance flexibility are worthy of attention, such as liquor, auto parts and upstream resource industries.

　　Donghai securities: All-vanadium flow battery meets the development opportunity

　　Donghai securities Research Report pointed out that the safety of energy storage power stations requires the development trend of superimposed long-term energy storage, and all-vanadium redox flow batteries meet the development opportunity. The high installed capacity of wind and solar energy has improved the demand of new power system for consumption, peak regulation and frequency modulation, superimposed with the implementation of relevant domestic storage policies, and the long-term trend of energy storage has become increasingly clear, and the long-term energy storage route such as all-vanadium redox flow battery has a good opportunity for development. At present, the life cycle cost of vanadium battery is better than that of lithium battery and sodium battery. Marginal cost decreases with the length of energy storage, and the cost advantage is prominent in the long-term energy storage market. In addition, the construction period of vanadium battery is short, the floor space is small, the site selection is not limited by natural resources, and it can flexibly adapt to all sides of the source grid load and has stronger adaptability to wind and solar installations. At present, the industrial chain of vanadium batteries has basically formed, and the market demand needs to be released urgently.

　　Hua Fu Securities: The quarter-on-quarter improvement of some tracks in the chemical industry is worth looking forward to

　　Hua Fu Securities Research Report pointed out that the third quarterly report was disclosed in October, and the quarter-on-quarter improvement of some tracks in the chemical industry is worth looking forward to. Looking to the future, it is necessary to actively grasp the profit release and high profit under the background of high prosperity of traditional energy (coal-crude oil)The high dividend effect brought by low valuation, while actively tracking the changes in the sub-track. It is suggested to pay attention to: 1) energy security: China’s special estimate, abundant cash flow & stable dividends; 2) Middle and lower reaches: refining and chemical industry, tires, chemical fiber, fluorine chemical industry, coal chemical industry, agrochemical products (leading compound fertilizer), membrane materials, real estate infrastructure materials (alkali, titanium dioxide, silicone rubber, paint, etc.), modified plastics, dyes, civil explosives and surfactants; (3) New materials: high-end polyolefins and catalysts, aerogels, high-end carbon black, OLED luminescent layer materials, semiconductor and lithium battery materials, aviation and special ship materials, sweeteners and bio-based materials.

　　Orient securities: The medical demand is rigid, and the long-term trend of the industry is improving.

　　Orient securities Research Report pointed out that in the long run, medical insurance fee control and normalized centralized purchasing will continue, and enterprises need to choose new varieties and fully grasp the clinical needs. Therefore, we are optimistic about enterprises with real innovation ability, and suggest focusing on the demand opportunities at the product end. In terms of medical devices, the conventional diagnosis and treatment continues to resume the marginal relaxation of the superposition policy, and the plate is expected to usher in Davis’ double click. It is recommended to pay attention to Mindray Medical, Sanyou Medical and Bairen Medical. In terms of innovative drugs, research and development continue to be promoted under strict review, and attention should be paid to cutting-edge clinical progress. It is suggested to pay attention to Hengrui Pharma, Jingxin Pharmaceutical and Kangchen Pharmaceutical. In terms of CXO, the industry prosperity is expected to improve marginally, which has the bottom investment value. It is suggested to pay attention to Sunshine Nuohe, Wuxi PharmaTech and Kanglong Chenghua.

　　Open source securities: coal prices fluctuated at a high level, and stable performance and high dividends made the valuation cost-effective prominent.

　　The open source securities research report pointed out that we maintain the logical recommendation of high winning rate and high margin of safety for the coal sector, and both offensive and defensive: from the perspective of high winning rate, high dividends have gradually been favored by capital market funds, and high dividends for coal enterprises have become a major trend; At present, the steady growth policy is introduced and exceeds expectations, and coal stocks will also become offensive varieties. As an upstream resource link, it will inevitably be boosted by downstream demand, reflecting the price increase. In terms of safety, we believe that the valuation of coal stocks has been at the bottom of history, PE valuation is 5-6 times of the performance in 2023, and the PB-ROE method is used to analyze that coal stocks have a high ROE, but Pb is greatly discounted, and the value of coal enterprises is underestimated. Beneficial targets with high flexibility, high dividends and growth: mountain coal international, Yankuang Energy and Shanxi Coking Coal; Beneficial targets of steady and high dividends: China Shenhua and Shaanxi Coal Industry.

　　Guohai Securities: Adhere to AIGC Main Line+Cinema Line+Low Valuation Main Line.

　　Guohai Securities Research Report pointed out that there was a temporary adjustment in September due to the poor box office performance caused by the empty window of supply and the expected landing of the interim report. The economic recovery is superimposed on the emotional recovery of watching movies, optimistic about the performance elasticity of the film and television sector; The normal distribution of the game sector and the new product cycle are expected to release profits. At the present stage, we are still optimistic about the application of AIGC in the media industry. Media companies have the advantages of users, scenarios and data. In the future, cooperation with large model manufacturers is expected to improve content production efficiency, enhance experience, accelerate industry innovation, and continue to pay attention to the application development of games, IP, marketing, e-commerce, education, film and television. At present, we adhere to the strategy of AIGC mainline+cinema line+low valuation leading stock selection. We believe that AIGC is expected to bring a new round of content productivity revolution.

　　Shanxi securities: optimistic about the performance of gold and jewelry enterprises in the third quarterly report

　　Shanxi Securities Research Report pointed out that from the report point of view, we continue to be optimistic about the performance of gold and jewelry enterprises in the third quarterly report, driven by the Qixi Festival in August and the franchisees actively stocking in September. From the perspective of follow-up demand, after a short-term rapid decline, gold prices have started to rebound, and both international gold prices and domestic gold prices have rebounded. Continue to be optimistic about the relative prosperity of the gold and jewelry industry in optional consumption. In the medium and long term, we are still optimistic that the progress of gold technology will continue to stimulate young consumers to satisfy their needs. It is suggested to pay active attention to Zhou Dasheng, Lao Fengxiang and Chao Hongji.

　　Central china securities: Pay attention to the film and television, games and advertising sectors with rising prosperity.

　　Central china securities Research Report pointed out that the overall performance of the media sector rebounded in the first half of the year, and the fundamentals showed an improvement trend. Although some sub-sectors once experienced short-term performance pressure, there is a greater possibility of improvement in the future. Q2′ s film, television, advertising and book sales have been well restored. At the same time, since the end of Q2, the market scale of film, television, advertising and games has improved, and the demand for cultural consumption and advertising has rebounded, which is expected to support the performance of Q3′ s media sector and continue into Q4. In the medium and long term, we will continue to pay attention to the new changes brought by AIGC technology to the industry, including the changes of content production mode, the innovation of commercial realization mode, the revaluation of industrial chain value and the changes of competition pattern. It is suggested to pay attention to the film and television, games, advertising and publishing sectors with strong defensive attributes, and pay attention to the performance of key companies in the third quarter recently disclosed.

　　China Post Securities: The short-term A-share environment is intertwined and will continue to fluctuate and grind the bottom.

　　China Post Securities pointed out that short-term A-shares will continue to fluctuate and grind to the bottom in the face of mixed environment. The industry configuration recommends the scientific and technological direction represented by electronics, automobiles and medical biology, and can pay attention to bank insurance in the short term. The fundamentals of the domestic economy are improving, but the trend of strong recovery has not yet been determined. We will continue to recommend the science and technology sectors with improved winning rate due to risk preference, mainly including automobiles and electronics related to Huawei’s smart driving concept, as well as medical organisms driven by the development trend of diet pills industry and key products going out to sea. Bank insurance will have a certain comparative advantage in short-term because of the public increase in Huijin’s secondary market and overseas risks. In the medium and long term, it is suggested to pay attention to three main lines. The first category is the target related to the decline in the potential growth rate of macro-economy and the decline in macro-economic capital expenditure, which mainly corresponds to high dividend assets. The second category is the science and technology sector with independent research and development as the main line, such as Huawei’s industrial chain and semiconductor equipment. The third category is the global distribution enterprises deeply involved in the global industrial division of labor, such as consumer electronics, automobiles, medicine and machinery.