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Chopsticks Brothers’ new film ＂Nie Yinniang＂ is a follow-up project.

A film called The Legend of Nie Yinniang has been approved.

　　 1905 movie network news On December 23rd, the Film Bureau released the latest issue of the film script for filing and project announcement. Tang De International, New Yuan Ye, Hengye and other companies all exposed the latest projects, and Chopsticks Brothers’ new film "Fake Bodyguard" was also impressively listed. In addition, a film named "The Legend of Nie Yinniang" was officially approved, which has nothing to do with the film directed by Hou Xiaoxian.

Nie Yinniang attracted a follow-up work, Chopsticks Brothers’ new film named Fake Bodyguard.

　　 Nie Yinniang the Assassin, directed by Hou Xiaoxian, has been filmed for many years and finally released this year. Although the box office performance is not good, the film is of excellent quality and has a high status in the hearts of fans. The film also won many awards such as best film and best director at the Golden Horse Award. Now, a film named "The Legend of Nie Yinniang" has been approved. The synopsis of the story is: in the middle of the Tang Dynasty, the buffer region was divided, and Nie Yinniang, a chivalrous woman, sacrificed herself and took care of the overall situation to protect Wei Bo from the war, thus writing an epic story.

　　 Judging from the plot, although the protagonists are all Nie Yinniang, they are different from Hou Xiaoxian’s version, and some of them have deviated from the original trend and become more grand, even using the word "touching" to describe them. The filing unit of The Legend of Nie Yinniang is Zhejiang Dongyang Zhongguang Film and Television Culture Co., Ltd. Beijing Branch, but none of the production and distribution companies of The Legend of Nie Yinniang has this one.

Chopsticks Brothers’ New Works Exposed

　　 Last summer, Chopsticks Brothers’ film was released in the mainland, and the box office finally exceeded 200 million. After that, the two have no new works. After the announcement of this project, their new film named "Fake Bodyguard" was also exposed. The screenwriter was Wang Terry, and the story took place in South Korea, but the protagonist was "three people in life service". It seems that Shawn and Wang Terry will invite others to star together this time. The synopsis of the story shows that the protagonists met the top killers when they came to Korea, which can’t help but remind people of the Korean killers played by Chopsticks Brothers in "The Raptors of Old Boys Crossing the River".

The Golden Horse Award for Best New Director Bi Gan’s New Work

　　 In addition, Bi Gan, who won the Best New Director Award at this year’s Golden Horse Award, will also start shooting a film called The Last Night of the Earth, which is his second feature film.

New Yuan Ye will shoot the co-production "Never Tomorrow".

Hengye Film Co., Ltd. has opened three new plays in succession. New Yuan Ye will shoot the science fiction film "Never Tomorrow"

　　 In the column of co-productions, there is a work in New Yuan Ye called "Never Tomorrow". In the film, the earth will lose its gravity, and all life is in danger of being pushed into the abyss of space. It is a science fiction film.

Tang De International will shoot Ghost Train.

　　 Tang De International, a company that once invested in Jackie Chan’s new film, also released a new work "Ghost Train" this time. The screenwriter is Fuhai Yi, who once wrote a film starring Song Jia with Su Xiaowei. Most of the story of Ghost Train happened on the train, including the disappearance of the last carriage and the fact that it still runs without the front of the car. It is mainly thrilling.

　　 In recent years, Fujian Hengye Film Co., Ltd. has released three new films at one time, namely "My Dad is a liar", "Evil Neighbors from Heaven" and "Wow! There is a demon, and the three films are of different types.

The "European Raiders" previously exposed by Yinrun was finally established.

　　 As early as March this year, during the Hong Kong International Film Festival, Yinrun announced that it would launch "European Raiders", which was directed by Ma Chucheng, continuing the style of the previous "Raiders" series of films, with an investment of over 100 million yuan, and would invite first-line stars to star in it. By the end of the year, the film was finally approved. It tells the story of three bounty hunters. When they compete with each other, they are involved in European gangs, the CIA of the United States, the European Union’s anti-crime alliance and other organizations.

Can I buy a dual-clutch gearbox？ Read these ten items before making a decision.

Is your car a dual clutch gearbox? Will you buy a car equipped with a dual clutch gearbox?

In recent years, in order to get rid of the intellectual property rights and technical restrictions of AT gearbox and gearbox, some car companies have achieved overtaking in corners of automatic gearbox. Coupled with the advantages of direct shifting, small power loss, light weight and low fuel consumption of dual-clutch gearbox, the majority of car companies have increased the research and development and production of DCT dual-clutch gearbox, and achieved remarkable results, and a large number of dual-clutch gearboxes with excellent technology and stable performance have emerged.

The dual clutch automatic transmission is based on the manual gearbox. Different from the manual gearbox, two clutches in the dual clutch are connected with two input shafts, and the gear shifting and clutch operation are realized automatically through the mechatronic module integrating electronic and hydraulic components.

Powershift can be divided into dry type and wet type, and the main difference is the different cooling methods. Dry powershift is cooled by air, while wet dual clutch is cooled by oil. The cooling effect of oil is better than that of air, especially in the scene of frequent clutch use. Therefore, the wet dual clutch automatic transmission has the characteristics of good ride comfort, strong stability and long service life, which is more popular among consumers and becomes the mainstream of dual clutch.

The following small series will lead you to learn about the top 10 mainstream DCT gearboxes in China and see who is the strongest.

The above are ranked according to the torque they bear.

Dongfeng 6DCT150 is a wet dual-clutch gearbox jointly produced by Dongfeng and Getrag Company. Established in 2012, Dongfang Style Traak Automobile Gearbox Co., Ltd. is a joint venture established by Dongfeng Company and Getrag International Company, each holding 50% of the shares, to jointly develop, manufacture and sell low-torque dual-clutch gearboxes. In the second half of 2014, the design of 6DCT150 wet dual-clutch gearbox was finalized, with six forward gears and one reverse gear, which can withstand the torque of 150Nm. Later, engineers further improved that the current maximum torque can withstand 200Nm, and it does not exceed 60 kg after filling oil. Using the unique micro-sliding friction technology of Getrak, after the clutch is fully combined, a thin oil film will be attached between the friction plate and the clutch plate, which can effectively alleviate the instantaneous speed or torque fluctuation and bring a smoother driving experience. The gearbox is a lightweight and compact third-generation powershift, equipped with cascade gears and intelligent execution system, and its transmission efficiency, fuel economy, shift comfort and other indicators have reached the leading level of similar products.

The gearbox matched by Beijing Hyundai Elantra 1.4T is D7GF1 dry dual clutch gearbox produced by Beijing Hyundai Elantra, with the maximum torque of 220 Nm. The reliability and stability of 6at gearbox produced by Mobius are very high, second only to. This 7-speed dry dual clutch adopts motor-driven shift technology, and its internal components are mainly two dry dual clutches, two clutch actuators, two sets of shift actuators and three-axis planetary gear sets. In terms of reliability, it is higher than most dual clutches on the market, but the inherent problems of dry dual clutches such as fear of heat and low speed frustration are still not well solved. In the case of extreme congestion, these two gearboxes may have overheating protection, and the market reputation is average.

In order to get rid of the dependence on Aisin 6AT gearbox, Volkswagen is the first car company to popularize dual-clutch gearbox on a large scale, and it is also an example for some domestic car companies to learn and imitate. Volkswagen DQ200 is a seven-speed dry dual-clutch gearbox, which can bear the maximum torque of 250NM. At present, it is produced by Volkswagen Transmission Dalian Co., Ltd. in China. DQ200 has the advantages of fast shifting speed, simple structure, high transmission efficiency and good fuel economy, with a weight of only about 70KG. It is mainly matched with Volkswagen 1.4T engine and is widely used. There were many complaints in the early days, but with the continuous improvement of production technology, the proportion of complaints about this gearbox is gradually decreasing. However, the inherent disadvantage of dry dual clutch is that there is no cooling of gearbox oil. In the process of frequent start and stop of dry dual clutch, the clutch is easy to overheat, which leads to clutch plate jitter, abnormal noise and even damage.

Jianghuai is one of the earliest independent automobile companies in China to develop DCT dual-clutch gearbox, and it mainly cooperates with others. Its clutch module and electromagnetic box are from Bogwarner, and TCU software program is from Germany. The net weight of JAC’s 6th gear powershift is only about 71.5kg, which is due to its two sets of internal and external nested shafts. 6DCT gearbox adopts JAC’s unique patented clutch protection design, with two additional clutches. When the clutch is overloaded, it can quickly turn on overload protection and safety cut-off. In order to realize automatic transmission control, there are as many as 12 sensors connected in TCU control unit, which can effectively monitor the working state of the whole machine in real time and cope with various complex environmental conditions. Jianghuai 6DCT gearbox optimizes the gear position and gear arrangement, reduces idling parts, shortens the axial length, and effectively improves the product compactness. The gearbox also adopts high-precision and high-efficiency internal meshing rotor oil pump and new DCT special lubricating oil, which greatly reduces the energy loss of the system, makes the fuel consumption of the whole vehicle close to the level of manual transmission with the same gear number, and the transmission efficiency is as high as 95%.

It is one of the earliest manufacturers of dual-clutch gearbox in independent brands. "DM21", a new generation of MEGA TECH 7-speed wet powershift, is the latest fist work of SAIC. The total weight of the transmission is 82KG, which is the third generation product independently developed by SAIC. The economy, ride comfort and durability have been further improved, and the torque capacity has reached 300Nm, which has changed the problems of the previous generation gearbox, such as frustration and abnormal noise. This gearbox has an ultra-high transmission efficiency of 97%, and is equipped with an original three-cavity independent cooling and lubrication system for gear cavity, hydraulic control module cavity and clutch cavity, which effectively ensures fuel economy and stability. In addition, it also uses the ultra-high pressure zero leakage control system to ensure the accuracy and speed of shifting. This one is mounted on MG6, and its overall performance is remarkable, and its shifting is smooth and silky, with both power and handling. The transmission was rated as one of the top ten transmissions in the world in 2021.

The 7-speed wet powershift used by Changan Automobile is produced by its own company, and its code name is DF727. It was successfully developed in 2017. In 2019, DF727 was applied to self-owned brand passenger cars in batches, with the production and sales reaching more than 100,000 units. DF727 is the flagship product of Qingshan Industry in recent two years. Once it was launched, it was favored by the market, with compact structure, high-precision clutch thermal management strategy and intelligent gear shifting technology. Its comprehensive transmission efficiency reaches 94.3%, and it is widely used in 1.4T and 1.5T blue whale engines in Chang ‘an, such as UNI-T, CS55, etc., with excellent power response and fuel economy. At present, there are three known models: DF727A/B/C, and the maximum bearing torque is extended from 270NM to 300NM. The actual driving experience is not bad, but the probability of DC270 being frustrated when driving on low-speed congested roads is slightly higher. The quality of the gearbox produced by Qingshan with military quality is guaranteed.The transmission was rated asIn 2021, the world’s top ten speed changes in the Dragon Pan Cup.

When it comes to gearboxes, we have to admire Chery, which is a unique brand in China and independently developed CVT15 and CVT25. However, the torque of CVT gearboxes is limited. With the equipment of Chery’s strongest 1.6T and 2.0T high-torque engines, Chery has to equip them with gearboxes with greater torque. So Chery and the cooperative 7DCT300 came into being. 7DCT300 is the third generation gearbox with intelligent execution system, which can be horizontally centered and horizontally front-mounted, and the maximum input torque can reach 320Nm. Five high-performance clutches and gear shifting are adopted, and the gears equipped with smooth gear shifting and fast response speed, accurate sliding control of clutches and high-precision equipment processing also bring excellent NVH performance to the transmission, with comprehensive transmission efficiency exceeding 96% and net weight as low as 65kg. With the advantages of leading transmission efficiency, excellent shift comfort and low power consumption electro-hydraulic intelligent execution system, 7DCT300 has been favored by many OEMs.

The 7-speed wet dual clutch used by Geely is jointly developed by Geely and Geely, and is compatible with 48V light hybrid plug-in hybrid system. 90% of the suppliers of Geely’s dual-clutch gearbox are the top suppliers in the world. Compared with the traditional dry or wet DCT, Geely 7DCT adopts the latest generation of electro-hydraulic execution system. This not only retains the oil-cooling mode of wet double clutch, but also adopts the high-efficiency motor-driven shifting process, and adopts the controllable variable oil pump, which can supply oil on demand, and improves the power efficiency to the extreme, with the highest transmission efficiency reaching 97%. The great improvement of efficiency is closely related to the reduction of internal friction, and the loss of the product itself is further reduced through a number of technologies, such as electronic gear shifting, separate electro-hydraulic control of clutch, optimization of housing to reduce lubricating oil spill, and cooperation with famous lubricating oil manufacturers to develop low-viscosity DCT oil, so as to finally reduce internal friction and improve transmission efficiency. At present, Geely is widely used in the Lectra series, etc. From the current actual use effect, Geely’s 7-speed wet dual clutch is relatively stable.

As early as 2011, BYD developed a 6-speed dry dual-clutch gearbox with reference to Volkswagen DQ200 gearbox, which is the earliest car company in China to master the technology of dry dual-clutch gearbox. In 2013, BYD introduced the 6-speed wet dual-clutch gearbox 6DT35, which is still the result of reverse research and development. This gearbox can now be seen on BYD’s Song and Song MAX models. Its maximum torque is 350Nm and its weight is 94KG. At present, it only matches some small displacement engines. According to the owner’s report, BYD’s 6-speed wet dual-clutch gearbox has problems such as frustration and abnormal sound, and its quality needs to be improved. Fortunately, in 2020, BYD launched a new 7-speed wet dual-clutch automatic transmission. By simulating various operating conditions, the transient dynamics simulation analysis was carried out, and the unbalanced load with each gear was continuously corrected, so that the gear meshing was smoother, the impact between gears was reduced, and the smoothness of the transmission was better and the failure rate was lower. In terms of durability, the official claims that it can match the service life of AT. In addition, the new gearbox has higher transmission efficiency, more fuel saving, lower noise control, more direct power, and the transmission efficiency is as high as 95%, which is already in the leading position in China.

Great Wall, a gearbox, is based on itself and draws on the strengths of others.Great Wall DCT450 seven-speed wet dual-clutch gearbox, its comprehensive quality is recognized as a high-end product in the industry at present. Mainly manifested in: first, high reliability, accessories from famous enterprises,For example, the bearing of the gearbox is Schaeffler, Germany, and the dual-clutch module is Bogwarner TCU, USA. This gearbox consists of 157 parts, of which only 18 parts such as the outer shell and gear are produced by Great Wall itself, and all others are supplied by internationally renowned suppliers. Second, the noise control is excellent, it uses very low viscosity lubricating oil, and with the design of this gear pendulum vibration reduction flywheel, the noise of the gearbox is about 10 decibels lower than that of other similar levels; The third isIt can bear a large torque, and the maximum torque is as high as 450Nm. The adaptive models include mainstream 1.5T-2.5T gasoline engines, because the peak torque of these machines is basically between 250 and 450 nm. Fourth, the transmission efficiency is high, and the transmission efficiency of DCT450 gearbox is also very high, reaching the high standard of 95%. There are not many DCT that can reach this level, so this machine has obvious improvement effect on the performance of vehicles.

What’s your experience and feeling about the dual clutch? Welcome to leave a message and discuss in the comment area.

If you like this article, please like it and pay attention to it. Xiaobian thanked you here!

Frameless door + electric rear wing, Mazda EZ-6 real car has now arrived at the store, and it is expected to start at 150,000 yuan

If in the era of fuel vehicles, it represents a persistent craftsman spirit, then in the current era of new energy, can Mazda still represent innovation and technology? Presumably many people’s answer to this question is vague, after all, Mazda’s pace in the field of electrification has just begun, and the cooperation can only be a test of the water work, whether it can win the favor of users, we need to observe for a while. Recently, some netizens have photographed that the real car of Mazda EZ-6 has arrived at the store. Interested netizens may wish to go to the store to experience it.

As a brand-new model, the Mazda EZ-6 is designed and built on the Changan EPA platform. It offers two options: an extended range version and a pure electric version. It is slightly larger in size, with a length, width and height of 4921/1890/1485 mm respectively, and a wheelbase of 2895 mm. The official position of the Mazda EZ-6 is a medium-sized sedan. From the actual photos, there are many shadows on the Mazda EZ-6, such as the beautiful design language. However, considering the positioning of new energy models, many LED embellishments that emphasize technological elements are still added. With a luminous logo, sharp headlights, and a three-dimensional front surround, the front face of this car looks very technological and sporty.

The most eye-catching feature on the side of the body is the use of the current popular hidden door handles, frameless doors and suspended roof, plus petal-shaped semi-hermetic wheels, which make the whole vehicle more dynamic. In terms of the tail, there are also two very recognizable designs, the first is the through tail lights and the semi-circular "gun downlights", which are very recognizable after lighting up at night. The second important feature is the electric rear wing, which is also equipped with a large-sized diversion diffuser at the bottom, so that the whole vehicle exudes a strong fighting atmosphere.

In terms of interior design, the Mazda EZ-6 adopts a minimalist style, such as a floating center control screen and a full LCD instrument panel that fits the current trend very well, while the flat-bottomed one adopts a touch design and integrates electronic arms. In addition, it is also equipped with AR-HUD and Qualcomm Snapdragon 8155 chips. Not only that, in the interior decoration of the vehicle, the EZ-6 model provides users with two unique design options: "Heron Feather White" and "Brown". In particular, the latter adopts a large amount of suede coverage and is equipped with 64-color ambient lights. The rear row is also equipped with an air-conditioning touch screen. It is also equipped with a panoramic canopy, 14 Yang audio, etc., to create a good sense of luxury.

The power aspect is also a major attraction. The Mazda EZ-6 will provide two models of extended range and pure electric version for consumers to choose from. The extended range version is equipped with a 1.5L extended range system, which matches the drive motor with a maximum power of 160 kilowatts. In terms of batteries, the new car will provide two capacity battery packs of 18.99kWh and 28.4kWh. The maximum pure electric cruising range under CLTC conditions is 105km and 160km respectively, and the comprehensive cruising range under full oil and full power is over 1100km. The pure electric version is equipped with a 190kW drive motor, with a matching capacity of 56.1kWh and 68.8kWh battery packs. The maximum cruising range under CLTC conditions is 480km and 600km respectively. As for the price, there is no relevant information yet, but with reference to the price of Artez and, we expect the price of this car to start around 150,000, so do you think this price is appropriate?

Audi Audi SQ7 Linyi area big price reduction, the lowest only sale 1.0988 million! Quantity is limited

In [Easy Car Linyi Local Auto Market Discount Promotion Channel], we have sorted out the ongoing
Promotions. As a much-talked-about model, the Audi SQ7 is currently offering amazing discounts. The highest discount can even reach 3,000. The minimum starting price is only 1.0988 million. You can get a larger discount by clicking the "Inquire" button in the quotation form. If you are looking for a practical and affordable model, you may wish to find out about the Audi SQ7 discounts.

Let’s take a look at the appearance of the Audi SQ7 first. The front of the Audi SQ7 looks more stocky and sporty. Coupled with stylish and generous headlights, it can win the love of young people. The car is equipped with LED daytime running lights, headlight height adjustment, automatic opening and closing, adaptive far and near light, automatic steering, delayed closing, rain and fog mode, etc. To the side of the body, the body size of the car is 5066MM*1970MM*1701MM, the car adopts a young personality line, the body feels very avant-garde, with large-sized thick-walled tires, the overall visual effect is very cold. In terms of the rear, the rear looks more energetic, and the taillights show a cold design style, which is very hard.

Sitting in the car, the interior looks very fashionable, very in line with the taste of young consumers. The steering wheel of the car is very atmospheric, equipped with electric up and down + front and rear adjustment, steering wheel memory, steering wheel shift, steering wheel heating and other functions, giving people a bright feeling. From the central control point of view, with the 10.1-inch touch LCD central control screen, the interior style is impressive and looks quite stable. The dashboard and seat also feel good. Let’s take a look. The dashboard design is remarkable, and the shape takes the sports route. The car adopts leather seats, which are wide and thick, and are very comfortable to ride.

The Audi SQ7 is matched with an automatic manual (AT) transmission, with a maximum power of 373KW and a maximum torque of 770N.m, resulting in good power performance.

Zhao Youting： Because he treated Yang Mi poorly, he was once scolded by Gao Yuanyuan

　　In 2009, Zhao Youting starred in his first TV drama "Ruffian Hero" and made his debut. Not only did he become a new idol with his handsome appearance, but he was also a rare actor. He won the Taiwan TV Golden Bell Award for Best Actor in one fell swoop. After that, Zhao Youting’s popularity was to marry the national Muse Gao Yuanyuan. Although his career development has been continuous in big movies, it has been tepid. The Xianxia drama "Three Lives, Three Worlds and Ten Miles of Peach Blossom" currently being broadcast on Oriental Satellite TV and Zhejiang Satellite TV is Zhao Youting’s first TV drama in seven years. A large number of audiences have turned to his fans again.

　　Zhao Youting is a star who has been underestimated for a long time. He has good looks and acting skills. When he encounters a character like "Ye Hua" with the name of "the most beautiful man in the four seas and eight wilderness", his ability can be suppressed first and then raised. At first, many book fans opposed him because he was not "beautiful" enough, and the styling effect was just passable. Disappointment boiled over. But Zhao Youting conquered the audience with his "micro-expression" acting. "No matter how ugly the styling is, I can’t help but fall in love with him." Fans also invented the new term "cosmetic" acting for him. In the interview, Zhao Youting is both upright and romantic. He keeps saying that "Ye Hua" is mushy, but his mouth is not the best love story in Gao Yuanyuan’s daily life.

　　"Cosmetic" acting, I take it as a compliment

　　Beiqing Daily: From the original unfavorable to the current hot circle fans, are they all expected?

　　Zhao Youting: I think I seem to be quite calm. Because the shape that came out at the beginning was indeed not as good as we expected, we also wanted to be very handsome and shock everyone, but maybe my own state that day was not so good, or the hair flying was not so wonderful or the light was not good, but it gave everyone a chance to complain, but I think it doesn’t matter, because I am still quite confident, whether it is for myself or for this play, I think everyone will like it after watching it, but now such a good result is indeed not predictable, thank you very much.

　　Beiqing Daily: How did you feel when you heard that your acting was called "cosmetic surgery" by the audience?

　　Zhao Youting: I still regard this as a compliment (ha ha), I quite like this kind of label, because I have never felt that my appearance is so high, and I am all down-to-earth and good at acting according to my own strength. I hope that what everyone sees is the hard work behind it and the presentation of the actual acting skills above, rather than saying how handsome or not.

　　Beiqing Daily: The script assigns this role to "the most beautiful man in the four seas and eight wilderness", and all the controversies about you before are also due to this. What are your thoughts on these nine words?

　　Zhao Youting: I do have a little resistance to the beautiful man part. If I really only play a very superficial handsome man, I feel that I am not so suitable. I think I am like this, I am very satisfied, but with the handsome guys in my mind, such as Takeshi Kanshiro and Takuya Kimura, it is obvious that I am more than one level away from them; and I don’t know the "skills" that handsome guys should have, the extroverted ones… But I read the script and read the novel, and I found that I like this book and this story, and I also like characters like Ye Hua and Mo Yuan very much, so I want to say that I will win with my acting skills. Because I really want to participate in this work, I will fight.

　　Beiqing Daily: Ye Hua’s greatest charm value is to say love words. Would you find this so mushy in life?

　　Zhao Youting: I really don’t say too many such mushy love words in my life. I believe no one can. Who would say anything in daily life, I am your heart, your liver, your baby sweet sauce, impossible, it’s too disgusting. But there is no way, there are needs in the book and the play. So every time Xiao Mi and I say these words, we need to go through some psychological resistance before we can slowly say them out so that we don’t laugh.

　　Beiqing Daily: Since "Ruffian Hero" became an instant hit, I have been making movies. Why did I take on a costume TV series this time?

　　Zhao Youting: I have been making movies in the past few years, but I have never set a limit. I did not say that I will only make movies and not TV dramas from now on. I have also read many scripts in the middle, and I feel good about it. But maybe the timing is not right or the schedule is not suitable, or else it is because I have very high requirements for the script, and I hope to work with like-minded partners, so when everyone’s pursuit and requirements for a play are unequal, it is more difficult to continue. So until now, I only took on the "Three Lives and Three Worlds" one. It is also because I found that the whole team I can talk to and have a tacit understanding. Everyone has very high requirements for this play, so I am very happy and feel that I can be very involved in this play.

　　"Ruffian Hero" regains fan pick-up treatment after seven years

　　Beiqing Daily: With the current popularity of this drama, you should already be able to feel the madness of fans, right?

　　Zhao Youting: I haven’t been harassed by fans, but now I will start picking up airports, which reminds me of the "encounter" when "Ruffian Hero" first aired. I am very grateful to them and thank them for their support. But I really don’t think I need to come to see me so hard, because I am like this, it is quite ordinary, so don’t give me gifts, write to me, I am very happy, don’t spend money. I have to worry about their safety when they come to the airport to pick up the plane, because they often take pictures without looking at the road, and often they almost fall or are in danger when going down the stairs, which I am still not used to.

　　Beiqing Daily: After seven years in the middle, there are fans picking up the plane again. Many stars will feel that this situation of regaining its peak is a bit slow. What do you think?

　　Zhao Youting: I don’t feel that popularity is coming slowly. Of course, we can’t be proud to say that I don’t care or anything. Of course, I care. Every work still hopes to be seen and loved by everyone. But I think these are all results. What I value more is a process – the process of filming, have I enjoyed it, have I given everything, and have I tried my best without regret? I believe that many films have achieved this. I have a clear conscience, and there is nothing I can do if everyone doesn’t like me, but I like it myself, and I think I have achieved what the director asked of me and the opponent’s actors expected of me.

　　Beiqing Daily: Your personal Weibo has suddenly become very active in the past half a month. Many netizens have joked that they have followed the fake account. Why?

　　Zhao Youting: Yes, because of the high attention recently, the company and everyone hope that I can post more Weibo to interact with netizens more. In fact, I am very happy. I am not a person who does not want to post Weibo or do not want to interact. I am not that mysterious. I hope that everything I send is unique or interesting and has content. So if I don’t have any content or anything to say, I would rather not send it. Because I don’t think it is necessary to send some photos of my personal life, it doesn’t matter what breakfast I ate or something. Let’s see if I can maintain such a frequency after this drama is over, but I guess not.

　　Washing dishes is my favorite chore

　　Beiqing Daily: Is Gao Yuanyuan also watching "Sansheng Sanshi" simultaneously?

　　Zhao Youting: Now we are watching with Yuanyuan. After the two of us finish our work, we sit in front of the TV and watch the updates on the Internet the night before, because sometimes we really can’t cooperate that night. It’s better to watch the updates on the Internet. Then I was scolded by my wife, because of the bad part for Susu (played by Yang Mi), there was a little low pressure at home those days, and my wife would think that I was too bad for Susu, how could I not understand women so well.

　　Beiqing Daily: You once said that the biggest symphony between Ye Hua and yourself is specialization. If you fall in love, you fall in love. Sansheng and Sansheng will not change. You also identified Gao Yuanyuan in this way?

　　Zhao Youting: I quite admire Ye Hua, and I certainly have the same attitude towards Yuan Yuan myself. Because I am a fan of "Friends" poisoning, I grew up watching "Friends". There is a paragraph in the middle that I don’t know if you have seen, that is, Chandler said there what his dream in life is. When a real girl appeared in front of him and said I want to be with you, Chandler said that I hope the answer is "I’m sorry, I’m married". I think this sentence is super man and super handsome, and I was moved by this sentence when I was a child.

　　Beiqing Daily: You said before that the whole family is chasing dramas. What do your parents and Gao Yuanyuan think of your performance?

　　Zhao Youting: Mom and Dad have responded very well to the current drama, and they all praised me for my good acting. Mom said proudly, Look, I said long ago that I should follow a TV drama, but you didn’t listen. It’s true, Mom is right. Seeing the intimate drama, Yuanyuan is fine. I think she has already entered the drama, and she can look at this thing from the perspective of an audience without investing too much personal emotion.

　　Beiqing Daily: In the play, a person takes care of a small group, skilled and well-organized, is he also very good at taking care of people in life? Can you cook yourself?

　　Zhao Youting: I am actually quite a lazy person in my life, and I am well taken care of by the people around me. My mother’s cooking is really superb, so I never have to cook. At most, I cook two dishes for my mother on Mother’s Day. My responsibilities at home are basically washing dishes. Washing dishes is one of my favorite household chores, and it is also the least burdensome and stress-free for me.

　　But will you take care of people? I don’t know either, because I think I’m pretty good at reading people’s words, so my care is not a very practical kind of cooking or doing things or something, maybe silently paying attention. Is this a bit like Ye Hua? I always see at a table who’s drink is gone, or who’s order hasn’t been served, etc. I like to pay attention to these things myself.

　　Everyone’s "birth" blessing, Yuanyuan and I have received it.

　　Beiqing Daily: You and Yuanyuan have been spawned by netizens, is it causing trouble instead?

　　Zhao Youting: It’s not that I mind, but I understand that everyone is very active in sending a lot of attention and blessings, and we have all received it. But there will still be an invisible pressure, thank you, stop reminding us. We know very well what we should do, we just want to follow our own pace.

　　Beiqing Daily: There are suddenly a large number of female fans in life. What is Gao Yuanyuan’s reaction? Will you be jealous?

　　Zhao Youting: Yuanyuan won’t do it. Yuanyuan is very generous and supportive. She also helps me adjust my mentality, including my lifestyle. I was originally a very simple actor and "a guy". I think it’s good that I can dress comfortably when I get on a plane, and I never feel that it is fashionable. But now that I have received attention, the studio will have some requirements for me, asking me to take care of some clothes and so on. I am a little difficult to accept and feel very troublesome. But Yuanyuan is still convincing me that this is inevitable. If you endure it, it will be better after this stage.

　　By our reporter, Yang Wenjie

　　Photo by Wang Hui

Deep Web ｜ From Hundred Regiments War, takeaway competition to present on all major platforms, how Meituan has gone through these 8 years？

　　Founded in 2010, Meituan finally knocked on the door of IPO after eight years. On June 22, Meituan submitted a listing application to the Hong Kong Stock Exchange. If the IPO is successful, Meituan will become the largest listed company in the O2O field in history.

　　According to the Meituan prospectus disclosed by the Hong Kong Stock Exchange today, the number of transactions completed by the company’s platform in 2017 exceeded 5.80 billion, and the transaction volume reached 357 billion yuan. The operating income from 2015 to 2017 was 4 billion yuan, 13 billion yuan and 33.90 billion yuan respectively, an increase of 223.2% and 161.2% respectively year-on-year, and the income increased by more than seven times in three years. Meituan’s adjusted net loss continued to narrow, from – 5.90 billion yuan in 2015 to – 5.40 billion yuan in 2016, and further narrowed to – 2.85 billion yuan in 2017, and the loss was halved within three years.

　　Among the many start-up companies in the O2O field, Meituan should be regarded as a lucky "outlier". From imitating Groupon’s group buying business earlier, to expanding its business scope with the Amazon model as a reference in the later stage, Meituan has been reclassified into the team of Internet Tech Giants.

　　Make another Meituan

　　Meituan’s most recent financing was in October 2017, when it received a $4 billion round of F financing led by Tencent, with a post-money valuation of $30 billion. If calculated at the valuation of $60 billion listed on the market, it means that Meituan’s valuation has doubled in less than a year.

　　In the past few years, Meituan has shown extremely strong ambitions in its field and has become a force to be reckoned with on China’s internet landscape.

　　Starting from group buying, but not ending with group buying. Meituan has its own logic and considerations, starting from a single group buying business and gradually expanding to local life service related fields including Internet takeout, online travel, fresh food e-commerce, online car-hailing, shared bicycles, etc.

　　2015 was an important watershed since Meituan was established. At that time, it completed the acquisition with Dianping, which enriched Dianping’s store-to-store service in addition to the original group buying and takeaway business. It was a year when Meituan focused on building a platform and an ecosystem. After winning the war in the era of group buying and O2O, Meituan began to open up a new battlefield.

　　The intensive organizational restructuring witnessed the expansion of Meituan’s size.

　　In 2015, Meituan established a total of four business groups, including the takeaway delivery business group, the hotel tourism business group, and the store business group, and established a wholly-owned subsidiary, Maoyan Culture Media Co., Ltd. (later spun off and acquired by Guangguang Media).

　　The latest adjustment is after the completion of 4 billion US dollars financing in December last year, Meituan will build a new store business group, large retail business group, hotel tourism business group and travel business unit four business systems, and establish Strategy and Investment platform.

　　"Looking to the future, the opportunities and challenges are great," said Wang Xing, Meituan’s chief executive, in an internal email at the time. The opportunity is that the new business will hopefully help Meituan achieve faster growth, but at the same time, the challenges from peer competitors should not be underestimated.

　　According to the prospectus, Meituan has maintained partnerships with approximately 339,200 hotels in China as of December 31, 2017. In 2017, the number of domestic hotel room nights booked on Meituan’s platform totaled about 205 million, an increase of 56% over 2016, and set a record for 1.57 million domestic hotel room nights in a single day.

　　Online domestic attractions and excursion package booking service, as of December 31, 2017, Meituan covers about 330 cities and about 16,500 attractions across the country. Meituan provides consumers with a convenient, safe and cheap way to buy national attractions and excursion packages. In 2017, Meituan sold approximately 97 million domestic attraction tickets.

　　In terms of numbers, Meituan’s wine travel business has ample confidence to fight against Ctrip, and it has also begun to attack Ctrip’s core business, high-star hotels.

　　Not only the wine travel industry. Since February last year, Meituan has been operating a low-key online car-hailing business in Nanjing. At 0:00 on March 21, 2018, Meituan took a taxi and officially landed in Shanghai. At about 22:00 that night, Meituan announced that Shanghai had completed the first day of breaking through 150,000 orders. Obviously, Meituan extended its competitive tentacles to the Internet travel giant Didi, and caused the latter to respond violently.

　　These later diversified businesses provided Meituan with sufficient foundation to enhance its own value.

　　Benchmarking Amazon, but more than that

　　While bringing innovation impetus to the industry, Meituan is also inevitably involved in multi-dimensional chaos.

　　This is not unrelated to the ultimate goal of Wang Xing and Meituan. A person close to Meituan’s senior management once revealed Wang Xing’s thinking to "Deep Web": Wang Xing’s strategic thinking and goal has always been to be a super platform for life services, and new businesses including taxi-hailing are in line with such strategic goals in his opinion. In this way, it can not only acquire more new traffic for the super platform by continuously launching new businesses, but also find more channels to monetize the huge users and traffic gathered by the super platform, so as to continuously enhance Meituan’s value and valuation.

　　Mr. Wang has mentioned Amazon on many occasions and it is often compared to the tech giant, but Meituan does not seem content to stop at the Chinese version of Amazon.

　　In an interview with The Information, a Silicon Valley technology news outlet, Mr. Wang said: "Users can buy a lot of things on Amazon or Taobao, but both are just e-commerce platforms for physical goods, while Meituan is an e-commerce platform for services." He added, "What kind of e-commerce platform can have millions or even billions of transactions?"

　　In fact, in the past year, 320 million users have made at least one purchase on Meituan. Meituan says that about 90% of user traffic comes from its own app, which greatly reduces the cost of users trying new services.

　　Meituan is not satisfied with this. It has bigger ambitions. Wang Xing believes that Meituan will serve the middle class 650 million China in the future, and smartphones are almost all ubiquitous among this group.

　　Among all Meituan’s businesses, high-frequency takeaway business is the core of the core, and Meituan’s "let everyone eat better and live better" just illustrates this point.

　　The prospectus disclosed that Meituan’s takeaway transaction volume in 2017 was 171 billion yuan, and Meituan’s transaction volume in 2017 reached 357 billion yuan, which means that the takeaway business accounted for 47.8% of Meituan’s overall transaction volume.

　　In May this year, Meituan Takeaway announced that it completed more than 20 million orders per day, becoming the first takeaway platform in the world to reach such a scale. Looking back at past data, Meituan Takeaway has reached 10 million daily orders in more than 3 years since its establishment, and it took just one year to break through 20 million daily orders.

　　Compete with the giants

　　While food delivery data is growing wildly, Meituan’s competitors in the food delivery market are also escalating.

　　Since the establishment of Meituan takeaway, the takeaway market has evolved a new pattern with new retail as the core. If it was a one-on-one showdown between Meituan and Ele.me before, then after Ali acquired Ele.me at the beginning of this year, Meituan needs to face the coordinated battle between Ele.me, Baidu takeaway, word-of-mouth and Ali.

　　In dealing with the relationship with Ali, Wang Xing is very firm, and he even publicly pointed out the dispute with Ali: "The reason why it sold our old shares last year was to interfere with our financing. If you are not optimistic about this company, you can just sell it out. We have already helped them find a buyer. But he refused to sell it out. He must keep some, maybe in order to continue to cause us some trouble in the future."

　　According to iResearch, Meituan was the world’s largest food delivery service provider in 2017, with its market share in China increasing from 31.7% in 2015 to 56% in 2017 and 59.1% in Quarter 1 of 2018.

　　The difference is that Meituan is heading in a completely different direction from Ele.me, with diverse coverage centering on local services.

　　On the one hand, there is Ele.me, the earliest player in the takeaway market, and on the other hand, Meituan, who is backed by Tencent and the late mover, will eventually become a player in the harvest market. It is still a question in the short term. However, it is foreseeable that Ali, who is up the ante layout of new retail, and Meituan, who has just established a new retail business group, are bound to ignite the war again.

　　In the new travel war, Meitu also started a listing race with Didi. According to the "Hong Kong Economic Daily" report, Didi will start listing as soon as the second half of this year, initially decided to settle in Hong Kong, China, and consider different listing structures, not excluding the listing of the same shares and different rights. It is expected that the market value of Didi will reach 70 billion – 80 billion US dollars when it goes public.

　　Obviously, Meituan has taken the starting line one step earlier than Didi, but it remains doubtful whether it can shake up Didi, the transportation giant.

　　potential threat

　　Wang Xing’s goal of unlimited boundaries has allowed Meituan to step into some of the most expensive battlefields of the Chinese internet in a short period of time. But when it tries to raise more capital from domestic investors to expand its business, it has few options.

　　The Information reported in early June this year that Wang Xing had approached SoftBank for a capital injection, but was unsuccessful. Meituan had also intended to raise $3 billion from the Private Offering Fund at a valuation of $40 billion. Meituan later denied the news.

　　Meituan’s earnings pressure cannot be ignored. Although other businesses other than food delivery have achieved overall profitability, with the competition in the food delivery market "three into two" and the competition with Didi in the travel field, Meituan still needs a lot of capital investment.

　　According to the prospectus, Meituan’s adjusted net loss fell from 5.90 billion yuan in 2015 to 5.40 billion yuan in 2016, and fell to 2.85 billion yuan in 2017, halving the loss within three years.

　　In addition, the travel business is also the source of Meituan’s cost. Although it has experienced many close battles in the group buying and takeaway markets and achieved good results, Meituan is undoubtedly a new recruit in the travel industry, and there are still many variables in whether it can achieve a turnaround against the wind. Investment subsidies are obviously the best way to quickly gain market share.

　　According to the "deep net", Meituan taxi in Nanjing on the line when the single subsidy is about 20 yuan, if according to its announced in December 2017 the daily order volume exceeds 100,000 single calculation, its subsidy in Nanjing only one day reached 2 million.

　　36Kr also revealed the power of Meituan taxi investment, including Beijing and other cities on the line of taxi business, the company prepared 1 billion dollars (about 6.30 billion yuan), and not capped.

　　Meituan acquired Mobike in April for a total price of $3.70 billion, including 65% cash, 35% Meituan stock, and assumed Mobike’s debt between $500 million – $1 billion.

　　In an interview with foreign media, Wang Xing said, "In the past few years, we have been working hard to ensure that the company is always ready to go public at any time." In addition to financial considerations, another impetus for Meituan’s listing came from the many investors behind it. Data show that Meituan has raised a total of 8.30 billion US dollars since its establishment, and investors have reached the moment to reap the rewards.

　　In the eight years since its establishment, Meituan has experienced many variables in the market, and it can be said that it has come to this day through thorns. However, going public is obviously not the end of Meituan, and a competition with giants has really begun.

Meituan will turn from profit to loss in 2021, with higher expenses such as rider costs and R & D expenses

In the post-epidemic era, Meituan (3690.HK) revenue has risen steadily. On March 25, Meituan released the fourth quarter and full year results of 2021. In 2021, the company’s revenue was 179.128 billion yuan (RMB, the same below), an increase of 56% year-on-year; the company lost 23.536 billion yuan during the year and 4.708 billion yuan in profit in the same period last year; the company’s adjusted net loss was 15.572 billion yuan, and the profit in the same period last year was 3.121 billion yuan.

Food and beverage takeaway is an important revenue business of Meituan, and the operating profit of this business in 2021 is 6.175 billion yuan; however, the policy requirements of "reasonable reduction of merchant service fees" and the corporate responsibility to improve the protection of riders’ rights and interests have also increased Meituan’s operating costs. The restaurant and wine travel business is a major source of profit for Meituan. In 2021, the operating profit of this business is 14.20 billion yuan.

However, the operating profits of the above two major businesses cannot offset the losses caused by the expansion of Meituan’s new business. Meituan’s new business, which mainly focuses on community group buying, shared travel, and instant shopping, has an operating loss of 38.40 billion yuan in 2021. At the same time, Meituan also continues to increase the company’s R & D investment, and the R & D expenditure in 2021 will reach 16.70 billion yuan.

2021 was an extraordinary year for Meituan, with the company’s performance turning from profit to loss. At the same time, Meituan’s anti-monopoly penalty was also settled and fined 3.442 billion yuan. Affected by policies and the general environment, Meituan’s share price declined as a whole in 2021, peaking at HK $460/share that year, and then fell below HK $300/share twice in July and November of that year. On December 31, 2021, it closed at HK $225.4/share. As of the close on March 25, Meituan closed at HK $135/share, down 8.16%.

"In 2021, despite the impact of the epidemic, we will still overcome difficulties and strive to provide hundreds of millions of consumers with reliable and convenient life services, help merchants use digital means to expand online operations, and help more entrepreneurs and employees achieve stable income," said Wang Xing, CEO of Meituan. "Meituan will unswervingly fulfill its platform responsibilities, unswervingly increase investment in technology, unswervingly continue to expand its business, and focus on the’retail + technology ‘strategy to deepen the Chinese market and create more value for merchants, users, riders and other ecological partners."

The profit of catering takeaway operation is 6.175 billion yuan, which enhances the protection of riders’ rights and interests

Under the pressure of repeated epidemics, Meituan’s food and beverage takeaway business continued to grow. The number of annual transaction users and the per capita transaction frequency in 2021 reached a record high. The peak of single-day orders broke through 50 million in August 2021 and reached a new high in December of that year. The number of transactions in the whole year reached 14.40 billion, an increase of 41.6% year-on-year.

In 2021, Meituan’s catering takeaway business will see significant growth in categories such as nighttime, milk tea, salad and light food. Supply growth effectively drove an increase in orders from medium and high-frequency users. Therefore, the number of annual transaction users of catering takeaway increased by 13% year-on-year, and the average transaction frequency of annual transaction users increased by 25% year-on-year.

In 2021, Meituan’s catering takeaway business transaction amount was 702.10 billion yuan, an increase of 43.6% year-on-year; revenue was 96.30 billion yuan, an increase of 45.3% year-on-year. Operating profit increased from 2.833 billion yuan in 2020 to 6.175 billion yuan in 2021, while operating profit margin increased from 4.3% to 6.4%.

The topic of takeaway merchant commissions has attracted much attention. In 2021, Meituan takeaway’s commission income (technical service fee) obtained through merchants was 28.547 billion yuan, 18.503 billion yuan in the same period of the previous year, an increase of 54.3% year-on-year; compared with the company’s catering takeaway transaction amount in 2021, the takeaway platform commission rate was about 4.1%.

However, the 2021 government work report proposed to "guide platform enterprises to reasonably reduce merchant service fees." Subsequently, the National Development and Reform Commission and other departments also issued the "Implementation Plan for Accelerating the Cultivation of New Consumption", proposing to guide online platforms such as takeout to rationally optimize the use of small and medium-sized enterprises. Merchants and individuals use the platform to operate commissions, commissions and other expenses, and use technology to empower operators to reduce costs and increase efficiency within the platform.

In 2021, Meituan takeaway and other platforms took the initiative to optimize the platform charging model and implement a pilot "rate transparency". At the same time, the protection of rider rights and interests is also a major responsibility of Meituan. In July of that year, Meituan established a takeaway rider service department. In 2021, Meituan held 136 rider talks.

The financial report shows that the vast majority of Meituan takeaway’s total revenue is rider delivery costs. In 2021, there are about 5.27 million riders who earn income on the Meituan platform. Meituan takeaway rider delivery costs were 68.183 billion, an increase of 38.3% year-on-year, accounting for 71% of Meituan’s total takeaway revenue.

In addition, the breakdown data of the financial report shows that in 2021, Meituan’s food and beverage distribution service revenue collected from merchants and users was 54.204 billion yuan, while the annual rider delivery cost was 68.183 billion yuan. The above data shows that Meituan’s annual direct subsidy for riders cost nearly 14 billion yuan.

The operating profit of the hotel is 14.20 billion yuan, and the operating loss of the new business is 38.40 billion yuan

In the post-epidemic era, Meituan’s store, hotel and tourism business has achieved steady growth. In 2021, Meituan’s store, hotel and tourism business revenue was 32.50 billion yuan, an increase of 53.1% year-on-year; operating profit increased from 8.181 billion yuan in 2020 to 14.193 billion yuan in 2021, while operating profit margin increased from 38.5% to 43.3%.

According to the financial report, Meituan’s 2021 store-to-store business transactions, transaction amounts and annual active merchants all hit record highs. Meituan has strengthened its penetration into lower-tier cities across the country. Categories such as leisure entertainment, fitness, elderly care services, medical care and pet services are growing strongly; while categories such as manual activities, recording studios, light and shadow interactive halls, and stress relief experience halls have become new consumer trends.

In terms of hotels and tourism, the number of hotel room nights in China will increase by 34.5% in 2021. In addition, Meituan has consolidated its competitive advantage in the low-star hotel sector, diverting offline users to online platforms to help more hotel merchants operate digitally. In the high-star hotel sector, high-star hotel room nights will account for more than 16.5% in 2021.

In 2021, Meituan continued to expand its investment in new businesses, especially commodity retail. In 2021, Meituan’s new business and other business revenue was 50.30 billion yuan, an increase of 84.4% year-on-year. The operating loss expanded from 10.90 billion yuan in 2020 to 38.40 billion yuan in 2021, and the operating loss ratio increased by 36.6 percentage points year-on-year.

Community group buying is the exploration direction of Meituan’s new business. In the second half of 2020, community group buying began a new round of industry competition. At that time, Internet companies such as Didi, Meituan, Pinduoduo, JD.com and others invested in the ante one after another. However, with the development of policies and markets, the community group buying industry will experience ups and downs in 2021. Orange Heart is preferred to face business shrinkage, and Jingxi is also reported to reduce staff and withdraw from the city.

At present, Meituan Preferred is relatively stable. According to the financial report, Meituan Preferred has achieved healthy growth thanks to clear policy guidance and a good market competition environment. The "next day pick-up" three-tier warehouse distribution logistics network system has covered most communities and rural areas in 30 provinces across the country. In the future, strict compliance with regulatory regulations will be the top priority, and we will continue to focus on balanced and high-quality growth.

Meituan flash sale exceeded 6.30 million in single-day orders in December 2021. On the supply side, it has expanded its product categories and established cooperation with more high-quality local stores. Flowers, supermarkets and convenience stores continue to maintain a high growth momentum. At the beginning of this year, 24-hour drug delivery service was launched. In 2021, Meituan market users and transaction amounts continue to increase.

High revenue and high investment, R & D expenses of 16.70 billion yuan

High revenue and high expenditure are the characteristics of Meituan’s performance in 2021. The company’s revenue hit a record high, and the operating profit turned from profit to loss, which also laid the foundation for future sustainable development to a certain extent. According to the financial report, Meituan’s R & D expenditure increased from 10.90 billion yuan in 2020 to 16.70 billion yuan in 2021, an increase of 53.1% year-on-year. The increase in employee welfare expenses was mainly due to business expansion.

On the other hand, Meituan has also increased investment in unmanned logistics research and development. Meituan drone has been in normal trial operation in Shenzhen for nearly a year, and has covered more than 8,000 households so far, completing 30,000 orders for real users. Meituan City Low-altitude Logistics Operation Demonstration Center has landed in Shanghai and will gradually cover the "3 km 15 minutes" low-altitude smart logistics network in East China.

In addition, Meituan automatic delivery has launched a low-speed instant delivery solution for outdoor scenes. As of December 2021, Meituan automatic delivery vehicle service has expanded to 20 communities in Shunyi District, Beijing, delivering nearly 190,000 orders, autonomous driving mileage over 700,000 kilometers, and daily delivery of more than 1,000 orders.

At the same time, the company’s overall operating costs also increased significantly. The cost of sales increased by 69.2% from 80.70 billion yuan in 2020 to 136.70 billion yuan in 2021, while the percentage of revenue increased by 6.0 percentage points to 76.3% year-on-year from 70.3%. The main reason is the increase in food delivery related costs, as well as the development and exploration of retail business and other new businesses.

In addition, the company’s sales and marketing expenses increased by 94.8% from $20.90 billion in 2020 to $40.70 billion in 2021, while the percentage of revenue increased by 4.5 percentage points year-on-year from 18.2% to 22.7%. Mainly due to the increase in promotion, advertising and user incentive expenses and employee benefits expenses. In addition, more employees were recruited to support the rapid growth of new businesses.

"Meituan’s development is closely related to the general environment of China’s economy, and it is also inseparable from the joint efforts of small and medium-sized businesses and related workers such as riders. We will continue to take high-quality and sustainable development as the company’s goal, and strive to drive consumption and industry transformation and upgrading, so that all relevant parties can benefit from it." Chen Shaohui, Meituan CFO, said: "Meituan will make long-term investment around the strategy of’retail + technology ‘, and through innovation and technology-driven, help more entrepreneurs and employees share the dividends of the digital economy."

Beijing News Shell Financial Reporter, Chen Weicheng, Editor, Song Yuting, Proofreader, Lu Qian

How ＂fickle＂ is the Great Wall Gun？ N kinds of modifications, as needed!

How many transformations can a pickup truck have? The answer of the Great Wall Gun is, N kinds! At the fiery Guangzhou International Auto Show, the trailer version of the off-road pickup truck, the rescue gun and the travel gun of the Great Wall Gun showed the audience how "fickle" the Great Wall Gun was. In fact, this is not the first time that the Great Wall Gun has "transformed". The rich modification scheme makes the ever-changing Great Wall Gun more attractive.