Comments on the management of Demax’s board of directors in the first half of 2023

() The business review of the Board of Directors in the first half of 2023 is as follows:

  I. Main businesses of the Company during the reporting period

1, the development of the industry

The company’s industry is automobile parts and accessories manufacturing (C3660), which is greatly influenced by the automobile industry.

(1) Automobile production and sales maintain development resilience.

After the impact of the switch of promotion policies and the fluctuation of market prices in the first quarter, the domestic automobile market was driven by the central and local policies to promote consumption, the announcement on issues related to the implementation of the national six emission standards for automobiles, automobile marketing activities in many places, and the launch of a large number of new models by automobile companies. The semi-annual node impulse of superimposed automobile companies was relatively low compared with the same period in April and May of last year, and the market demand gradually recovered. In the first half of 2023, domestic automobile production and sales achieved a high growth. According to the statistics of China Automobile Industry Association, in the first half of 2023, domestic automobile production and sales totaled 13.248 million and 13.239 million, up 9.3% and 9.8% respectively.

Xu Haidong, deputy chief engineer of China Association of Automobile Manufacturers, said: "However, we should also see that the current external environment is still complicated, some structural problems are still outstanding, consumer demand is still insufficient, industry operation is still under great pressure, and there are still many challenges in business operation. It is necessary to maintain the stability and predictability of policies and help the industry run smoothly."

(2) China automobile industry has made new achievements, and opportunities and challenges coexist.

With the development of China market, China automobile industry has made continuous breakthroughs and made some achievements, but some difficulties, shortcomings and challenges have also been exposed in the development process. On the one hand, under the background of electrification, intelligence and digitalization, although the traditional competitive advantages of joint venture car companies still exist, their shortcomings are increasingly exposed, such as slow upgrading and low configuration compared with domestic car companies. According to the statistics of the Association, in the first half of 2023, the sales volume of some joint venture car companies in Chinese mainland declined collectively, while domestic independent brands rose rapidly, accounting for half of the country’s total. According to the list of Fortune Global 500 in 2023, according to the turnover, 24 car companies in the world were on the list, including 7 in China. According to the statistics of China Association of Automobile Manufacturers, the domestic vehicle exports reached 2.14 million, up 75.7% year-on-year. New energy vehicles exported 534,000 vehicles, up 1.6 times year-on-year. Japan Automobile Manufacturers Association announced that Japanese automobile exports in the same period were 2.02 million vehicles, and China’s automobile exports surpassed Japan for the first time in the first half of the year to become the world’s largest automobile exporter. According to the data of the National Bureau of Statistics, the investment in automobile manufacturing industry increased by 20% year-on-year in the first half of 2023, which was higher than the national fixed assets investment of 16.2%, indicating the future development potential of China automobile industry. On the other hand, in recent years, due to many factors, such as lack of core and expensive electricity, rising raw material prices, unbalanced profits in the industrial chain, withdrawal of subsidies and intensified competition, some domestic auto companies continue to lose money, and the profitability of enterprises has become the core problem for the sustainable development of China’s auto industry. The world situation is accelerating,Facing the complicated international environment and the development of domestic economic upgrading, China’s automobile industry has also put forward new requirements for transformation and upgrading, cost control and brand promotion. Traditional automobile giants have intensively announced electrification strategies and participated in competition, and the development of China’s automobile industry is facing new challenges.

2. Main business of the company

Demais is a high-tech enterprise with innovative ability, which focuses on the research and development, production and sales of precision shafts and precision cutting parts, and is committed to providing customers with high-quality products and integrated services throughout the process. The company’s main products are precision shafts and precision cutting parts, which are used in the window system, power system, body and chassis system of automobiles. In addition, some products are industrial precision parts, and "multi-variety, non-standard and customization" is the main feature of the company’s products. During the reporting period, the company’s main business has not changed.

3. Business model

The company adopts the business model of "fixed production by sales" and has an independent and complete procurement, production and sales system. After years of development, it has formed a complete and efficient model of raw material procurement, product production, new product development and sales.

4. Market position

As a leading enterprise in the market segment of precision shafts and precision cutting parts in China, Demax has actively digested and absorbed leading manufacturing technologies and processes at home and abroad, introduced advanced production equipment from abroad, and cooperated with universities in Industry-University-Research in many fields, thus meeting customers’ demands for high quality, short delivery time and multiple models. Demax has always paid attention to management, innovation and sustainable development, with a wide range of products, stable quality and strong supply capacity, and has continuously increased the proportion of new energy automobile parts. It has passed the certification of IATF16949 quality management system, ISO9001 quality management system, ISO14001 environmental management system and GB/T29490-2013 intellectual property management system. Demax adheres to the fine tradition of "concentration, professionalism and dedication", and has accumulated a series of core technologies through long-term independent research and development, covering the whole production process of major products. The core technology level is in the forefront of the industry, and the patents cover the fields of process development, technology development and equipment development. As of the disclosure date of this report, the company and its subsidiaries have 47 invention patents and 33 utility model patents.

Demax has established strategic cooperative relations with many world-renowned first-class supporting suppliers of large multinational auto parts. Over the years, we have obtained Bosch, Toyota, DENSO, Aisin Seiki, Valeo, borgwarner, mahle, Marelli, Fully recognized by world-renowned auto parts suppliers such as Vitesco Technologies, Schaeffler and Johnson Electric, among the top ten global auto parts suppliers in 2023, four chose to cooperate with Demais. Demax has strong market competitiveness and brand awareness in the field of precision shaft and precision cutting parts manufacturing, and has been rated as the fourth batch of national service-oriented manufacturing demonstration enterprises, national intellectual property demonstration enterprises and intelligent factories in Liaoning Province, and won the title of "Little Giant" in the second batch of national specialization and novelty. The company’s technology center has been awarded as Dalian municipal enterprise technology center and Liaoning provincial enterprise technology center, the company’s precision shaft advanced manufacturing engineering research center has been awarded as Dalian municipal engineering research center, and the company’s trademark has been awarded as a well-known trademark in China.

5. Performance drivers

(1) Industry prosperity

The company’s industry is auto parts and accessories manufacturing, and the industry prosperity is an important factor driving the company’s performance. The high industry prosperity and strong supply and demand can effectively promote the company’s performance. At present, the automobile and its parts industry is still the global industrial base. With the continuous improvement of the penetration rate of new energy vehicles, the competitiveness of China’s automobile industry chain has been continuously enhanced, and the industry will still maintain a high prosperity.

(2) Technology research and development

Technical progress is an indispensable performance driver for manufacturing enterprises. Demax has always paid attention to R&D and technical investment, and has always maintained a leading position in the industry. Patented technology covers the whole process of the company. In addition, the company also has a number of non-patented core technologies. In recent years, the company has continuously strengthened the construction of digitalization and intelligence, effectively improved the level of production technology and intelligence, and cooperated with relevant universities and enterprises to create "Smart Demeishi". Excellent technology is the guarantee of Demax’s good performance and the cornerstone of Demax’s rapid development in the future.

(3) Management level

Management progress is the key factor driving enterprise performance. Scientific management can effectively improve work efficiency, reduce costs, enhance enterprise cohesion, establish a good corporate image, win wide praise from customers and suppliers, and help companies seize the opportunity of industrial development, thus effectively improving business performance. Demais has continuously improved its management level, continuously improved its organization, system and system construction, and has a smooth work, with a number of provincial and municipal management progress achievements. Demais pays attention to continuous learning, introduces "amoeba management mode", summarizes advanced management knowledge and experience, strengthens talent echelon construction, develops ERP system, and strengthens digital construction to serve enterprise management decision-making. With the development of the company’s digital management platform, the company’s management level will be improved by leaps and bounds, thus promoting the high-quality and sustainable development of enterprises.

6. Operation during the reporting period

(1) Market and product development

During the reporting period, Demais dug deep into customer demand, tapped market potential, and actively explored new customers and new products. The sales revenue of Mitsubishi, stoba and Hangzhou Xinjian Electromechanical Transmission Co., Ltd. increased by 11.72%, 165.21% and 1,977.77% respectively. New orders in hand were 206.56 million yuan, of which 70.54 million yuan was used for new energy vehicle projects, accounting for 36.33%. At present, DeMashi has become Bosch, Schaeffler, Aisin Seiki, borgwarner, Marelli, Toyota Loom, Vitesco Technologies, Johnson Electric, Wandu Bose, LG, UMC, Honeycomb, Weishi Energy, Shenzhen Zhaowei, STABILUS and other customers provide spare parts related to new energy vehicles. According to the company’s understanding, the end users of new energy vehicle products include Tesla, (), Volkswagen, Toyota, Honda, Ideality, Weilai, Tucki, Xiaomi, Chang ‘an, Geely, Chery, Wuling Automobile and Wenjie Automobile.

During the reporting period, a) more than 50 mass-produced products were added, including 13 products for new energy vehicles, 9 products for automobile platforms and 2 products for non-automobile industries; Many new energy automobile products are finally used in LI and Xpeng Motors; One directional screw was finally used in Xiaomi car; Two wiper shafts are used in Chang ‘an pure electric vehicles; A hydrogen energy fuel cell air compressor part was used in Bosch hydrogen energy fuel cell electronic air compressor, and finally used in hydrogen energy commercial vehicles. During the reporting period, it was mass-produced with a contract value of about 7.6 million yuan.

B) 46 designated products were added, of which 2 electric vehicle axles were used in the second generation electric drive system of electric vehicles; A high-pressure pump device was finally used in SAIC-GM-Wuling plug-in hybrid vehicle; A high-pressure pump and plunger are finally used in the most advanced fuel injection system project of Changan Automobile Platform. A variety of brake system shafts are used in the 4th generation fully integrated pure electric vehicle drive platform project of Vitesco Technologies.

Among non-auto parts products, three types of pins are used in robot reducers; One motor shaft is used in high-end medical electric sickbed; The end users of various laser radar-driven motor shafts include Weilai Automobile, Xpeng Motors, etc. All the above products are in the fixed-point stage.

(2) Technology and process development

During the reporting period, the R&D expenditure was RMB16,497,700, up by 50.71% year-on-year, and the main achievements were as follows:

A) Automobile electronic power steering torsion bar: The torsion bar is one of the important parts of the automobile steering system, which is responsible for transmitting the steering torque and requires high product strength. By using quenched and tempered raw materials (heat treatment process), scientifically selecting cutting tools, optimizing machining parameters of machine tools, and adopting specific processes, Demais has finished product processing in hard material state, and successfully conquered shot blasting process (a surface treatment process).

B) Hollow drive shaft of new energy electric vehicle: this product is the core component of the motor system of new energy electric vehicle. This product is a hollow spline shaft with many processing elements, complex shape and high precision requirements, which requires high-precision processing technologies such as gear shaping, carburizing heat treatment, finishing after heat treatment and cylindrical grinding. Demais has carried out special research and tackled technical problems through equipment selection, fixture design, cutting tools and optimization of machining parameters of machine tools, which has met the needs of customers and been recognized by customers, and is currently in the fixed-point stage.

C) Direction adjusting lead screw: This product is the key part of electric adjustment of automobile steering wheel. By combining the experience of the original lead screw product and through a series of process research and development, Demax Inter-departmental Team has successfully solved the burr problem caused by intermittent cutting of product threads, and successfully developed the high-precision cross-rolling forming technology. At present, the project has passed the customer’s review.

D) New wiper shaft: This wiper shaft has a unique straight step design and fixed number of teeth, which puts forward higher requirements for machining accuracy.

Demax Technology Department has carried out special research, successfully completed product development and met customer technical standards through a series of process development and design of special tooling.

E) Gearbox mechanism shaft: This product is used in automobile gearbox mechanism. By optimizing the parameters of high-end CNC lathe and improving its own processing technology and fixture design, Demais has met the requirements of high-precision diameter, shape and position tolerance and roughness.

F) Electronic handbrake brake screw: This product is one of the important components in the automobile braking system, and it is responsible for transmitting the braking signal to make the automobile braking system generate braking force. Demais solved the problem of high-precision screw processing through technical research; According to the characteristics of screw rod, a special fixture was designed to solve the problem of long step machining of screw rod, and the product was recognized by customers.

G) Further improvement of equipment automation level: During the reporting period, the engineering R&D department of the company gave full play to the role of equipment by rationally allocating and transforming equipment and setting up automatic production lines, so as to achieve the effects of process connection, further reducing comprehensive cost and improving production efficiency, and completed the design and transformation of more than 50 equipment in 18 projects, including automatic loading and unloading, online detection, online compensation, automatic production line and single machine automation (including projects under installation and debugging), among which automatic full inspection machines were successfully developed. Through the projection image measurement technology, the equipment can automatically identify the product direction and automatically separate the defective products, which can further save the labor cost of the company’s product inspection and improve the product inspection efficiency.

(3) Production and quality control

During the reporting period, the company took the following measures to further promote lean production level, reduce costs and increase efficiency, and improve production efficiency:

A) Multi-dimensional deepening of quality improvement and cost reduction achievements

During the reporting period, the cost control center set up a number of project teams, among which the informatization team used the company’s digital platform to provide system and big data support, and the production department, technical department, quality department and other relevant departments worked together to set core indicators for key products, effectively improving production efficiency and product qualification rate by optimizing production rhythm, improving processing technology, optimizing machine accessories, introducing automation transformation and special technical training, and successfully improving the qualification rate of more than 40 key products; The Planning Department optimizes the existing cost analysis mode, and further strengthens the cost control through target decomposition, supplier assessment, supplier direct supply/substitution, etc. Among them, the cost control of auxiliary materials for tools and drills has achieved certain results, and the supplier management has achieved remarkable results.

B) optimize the management mode.

In June, 2023, the company introduced the "Amoeba Management Mode", in order to improve the overall efficiency by optimizing business processes, redefining responsibilities and rights after combing production workshop processes, giving full play to employees’ subjective initiative, stimulating employees’ teamwork ability and innovative spirit, further comprehensively reducing and optimizing operating costs.

C) Take measures to improve production efficiency.

During the reporting period, the production capacity of key products was improved, the process was optimized, the quality was improved and the cost was reduced through measures such as debugging and processing of key processes by special personnel; Set up a sample center and an inter-departmental team to improve the efficiency of production organization by scientifically arranging pre-investment and delivery plans and optimizing production rhythm based on product characteristics and technology; Improve the layout of multiple workshops and comprehensively improve the efficiency of production and operation.

(4) Smart factories

A) digital platform project

The company accelerates the construction of digital platform and builds a smart factory with high efficiency, high quality and low operating cost. The company cooperates with the Artificial Intelligence Research Institute of Dalian University of Technology and Dalian Angel Technology Co., Ltd. to design and develop a brand-new digital platform. The digital platform adopts the development mode of pilot follow-up, iterative development, summary and improvement, and comprehensive roll-out, so as to create a digital platform with the mode of inheritance, sustainable development and testing while developing, fully digitize the company’s business processes, make management transparent, digital and visual, and facilitate the management team to control the overall situation and formulate corresponding solutions anytime and anywhere; Let employees clearly understand their daily work tasks, and the work results are more intuitive; Let the relevant parties of the company know the business progress with Demex in a timely and convenient way.

During the reporting period, Demax completed the sorting and optimization of the overall business process of the digital platform system, established a more comprehensive information and data association, optimized the operation convenience of the business process on the digital platform, and provided more flexible data query and other functions; Discuss and cooperate with operators to build a 5G private network scheme to ensure the stability and responsiveness of the internal basic network environment after the company builds a digital platform; The data acquisition project has completed the investigation of more than ten data acquisition service providers, and explored the data acquisition scheme suitable for the company. At present, it has entered the stage of scheme review and on-site trial mining, and built the company’s Internet of Things platform to further improve the intelligent manufacturing level of enterprises. In view of the fact that there is no mature intelligent scheduling solution for discrete manufacturing enterprises in China at present, Demais decided to design the intelligent scheduling solution independently and complete the scheme development work together with the software company, and has initially completed the scheme framework design.

B) intelligent warehousing project

The company has established an intelligent storage system, which uses intelligent vision recognition forklift and narrow lane three-way unmanned forklift to complete the tasks of product connection, handling, entry and exit, and introduces the dispatching system and warehouse management system of unmanned forklift. During the reporting period, after more than half a year’s trial operation, the intelligent warehousing system has continuously optimized the working logic and the forking action of the unmanned forklift, effectively improving the operating efficiency of the system. At present, the overall operation of the project is in good condition.

(5) Strengthen the construction of internal control system and the management of investor relations.

A) The company continuously promotes enterprises in accordance with the regulatory laws, regulations and systems of China Securities Regulatory Commission and Shenzhen Stock Exchange on the standardized operation of listed companies.

Industry governance ability, improve the company’s various rules and regulations and internal control system, strive to build a more scientific, efficient and reasonable management decision-making system, improve the internal control system, and strengthen the company’s organizational management ability.

During the reporting period, according to the latest requirements of the regulatory authorities and the changes in the actual situation of the company, the company further improved the internal control system, formulated the Management System for Share Repurchase, the Internal Control and Information Disclosure System for Derivatives Investment, the File Management System for Investor Relations, the Management System for Submission and Use of External Information, and revised the Accountability System for Major Errors in Information Disclosure of Annual Reports, the Work System for Independent Directors and the Management System for Directors, Supervisors and Senior Managers Holding Company Shares and Their Changes. Continue to strengthen the supervision of the Internal Audit Department on the implementation of the company’s internal control system, improve the depth and breadth of internal audit work, and put forward clear audit suggestions and urge them to improve according to the problems found in the process of walking through and checking. Further enhance the awareness of risk prevention of directors, supervisors, senior managers and relevant middle managers, improve the awareness of compliance management, strengthen the awareness and responsibility of internal control of the board of directors and key positions, effectively promote the standardized operation of the company and the continuous improvement of its governance mechanism, and promote the healthy and sustainable development of the company.

B) The company implements the core concept of Investor Relations Management System, attaches importance to investor relations management, and exchanges information through telephone and Shenzhen Stock Exchange.

Keep good daily communication with investors through various channels such as Dongyi. During the reporting period, the company held the "2022 Online Performance Briefing" to interact with investors and answer their concerns. Among them, the response rate of interactive investors’ questions was 100%, and investors’ surveys were received many times, which improved the quality of company information disclosure in multiple dimensions, further increased the transparency and standardization of the company and effectively protected the rights and interests of small and medium investors.

6. Carry out in-depth and sustained cooperation in Industry-University-Research.

Demais pays attention to Industry-University-Research cooperation, establishes enterprise engineering research center, makes full use of scientific research and teachers in colleges and universities, gives full play to the advantages of the company’s equipment, technology and technology, combines the strong and powerful, promotes the development progress of key projects, and digs deep into cutting-edge technologies to promote the company’s technological upgrading. During the reporting period, the main achievements are as follows:

(1) Apply for the project of Intelligent Manufacturing of Key Axles of Power System of New Energy Vehicles, a special fund for regional coordinated development in Liaoning Province in 2023.

The project makes full use of the technology of "Industrial internet plus Intelligent Manufacturing". After the completion of the project, the intelligent manufacturing level of key shaft parts of the power system of Demax new energy vehicle will be greatly improved, and the industrialization of motor spindle and gearbox gear of new energy vehicle will be realized.

(2) Demais signed a cooperation agreement with the School of Mechanical Engineering of Dalian University of Technology in Industry-University-Research, and participated in the transformation project "Special Equipment for Hot-air Forming of Metal Thin-walled Special-shaped Components" in Liaoning Province in 2023, which is being promoted in an orderly manner.

7. Subsidiaries enter the ranks of first-class supporting suppliers for automobiles.

During the reporting period, subsidiary Jinhua De set up a PBS workshop after purchasing equipment. As of the disclosure date of this report, Jinhua De has signed the Framework Agreement/Purchase Contract with Volkswagen FAW Engine (Dalian) Co., Ltd., Jaguar Land Rover and BMTS (Boma Technology) respectively to supply automobile parts and components such as balancer main shaft, balancer unit, turbocharger parts, sprocket assembly, intake/exhaust shaft sleeve, etc. as agreed. At present, it has sold products directly to the vehicle manufacturers Volkswagen FAW and Jaguar Land Rover, and indirectly to Shanghai General Motors. The company expanded its product range, from auto parts to auto parts and components, and entered the ranks of first-class supporting suppliers of automobiles, further enhancing the company’s comprehensive competitive strength. In the future, the company will continue to deepen the field of auto parts and components, actively develop new products, and take this opportunity to open up more OEM customers.

8. Future product planning

Maintain the steady growth of traditional business, increase the market share of products, and further consolidate and consolidate Demax’s leading position in existing superior products; Build a matrix organizational structure management model based on project management, further strengthen the development of new energy vehicles (hydrogen-containing energy vehicles) products and customers, focus on the layout of new energy vehicle motor systems, thermal management systems and driverless fields, and increase the development of new energy vehicle motor shafts, toothed shafts and hydrogen energy vehicle parts; Actively explore new fields, based on the long-term precipitation of Demax’s specialized and precise parts, use the advantages of precision machining technology and sophisticated equipment, increase the layout of shafts and precision cutting parts in various robot transmission and drive systems, and strengthen the development of industrial products such as machine tool servo systems and reducers.

Second, the core competitiveness analysis

Demais adheres to the fine tradition of "professionalism, dedication and concentration". Since its establishment, Demais has been deeply involved in the field of precision parts processing focusing on precision shafts and precision cutting parts, and its core management team and key technicians are stable. The core management team is diligent and dedicated, with rich industry experience and enterprise management experience, strong execution and keen market responsiveness; Key technical personnel make great efforts to continuously promote and upgrade the company’s technological progress. After years of management and technology accumulation, Demax has formed core competitive advantages in the field of precision shafts and precision parts, such as leading technology, stable quality, excellent equipment, well-known brand and large-scale production, thus promoting the company’s sustained, stable and rapid development.

1. Leading technology

Since its establishment, Demais has always paid attention to technical research and process improvement, adhered to the concept of "leading technology and technological innovation", and has strong technical development and innovation capabilities. In cooperation with well-known customers around the world, we keep abreast of the latest technical standards in the industry and establish a perfect product testing technology and evaluation system. The company increased investment in R&D by cultivating and attracting outstanding technical talents and purchasing advanced machinery and equipment, and maintained its dominant position in technology research and development. In the long-term development process, the production technology level of the company’s products has been greatly improved, and the production equipment has been automatically transformed, repeatedly transformed and re-developed, and equipped with self-developed software, which has greatly improved the production efficiency and intelligence level of the equipment. The production equipment transformed by the company can realize the functions of automatic identification, online detection, online feedback, automatic compensation, automatic loading and unloading, automatic processing, automatic data recording, etc., further reducing costs and increasing efficiency, improving the company’s intelligent level, and the technology is at the advanced level in the industry.

During the reporting period, the company and its subsidiaries filed 3 patents, including 2 invention patents and 1 utility model patent; Nine patents were granted, including three inventions and six utility model patents. As of the disclosure date of this report, the company and its subsidiaries have 47 invention patents, 33 utility model patents and 24 software copyrights, covering the fields of process development, technology development and equipment development.

2, the quality is stable

The quality of automobile parts is related to personal safety, and there are high standards and requirements for the quality, performance and safety of products. In particular, enterprises that manufacture such products must carry out stricter inspection and control on the quality of products. At the system operation level, the company passed the general IATF16949:2016 quality management system certification in the automobile industry and passed the ISO9001 quality management system certification; At the level of system construction, the company has formulated standard business processes and operation manuals, and used quality management tools for daily quality control according to the requirements of the quality management system; On the operational flow level, the company implements barcode management and builds a digital platform, which can carry out strict batch management of products and realize functions such as visual data and full information traceability. In terms of testing equipment, the company has high-precision testing equipment such as Zeiss, Sanfeng CMM and Mal image measuring instrument to monitor the process quality. In terms of employees’ professional skills, in addition to organizing regular/irregular internal special trainings, external quality trainings such as VDA6.3 (German Automobile Industry Quality Standard-Process Audit), P-FEMA (Process Failure Mode and Consequence Analysis) and CQI-9 (Heat Treatment System Evaluation) are carried out to improve the professional level of quality managers and enhance the quality awareness of operators. The company’s stable and reliable product quality has been fully recognized by customers, laying a solid foundation for market development.

3. Excellent equipment

While actively transforming the original equipment, the company pays attention to the advanced technological process of the global auto parts manufacturing industry, constantly updates sophisticated equipment, and purchases dozens of advanced equipment such as Tornos eight-station combined lathes in Switzerland, six-station and eight-station CNC lathes in Germany, and Mykrosa unintentional cutting grinder in Germany, which has the characteristics of high precision, high speed and high reliability, and is at the international leading level in the industry, effectively enhancing the company’s comprehensive strength.

4. Well-known brand

After years of market development and cultivation, the company has a stable customer base and established long-term and stable cooperative relations with many world-renowned auto parts suppliers. The products are sold to North America, Europe, Japan and other countries and regions. Among the top ten global auto parts suppliers in 2023, four chose to cooperate with Demax. The company has won many honors, such as global supplier award, annual innovative supplier, excellent supplier, preferred supplier and quality excellence award in the Asia-Pacific region, etc., and enjoys high popularity and good reputation in the same industry. The registered trademark of the company was awarded as a well-known trademark in China. On the one hand, brand effect enhances the influence of products and the strength of the company, attracts more customer resources, on the other hand, it also brings lasting and stable benefits to the company.

5. Mass production

The auto parts industry is a capital-intensive industry, with a relatively high degree of marketization and fierce competition. Vehicle manufacturers and first-class parts suppliers have higher requirements for the quality stability and timeliness of qualified suppliers. The company has the strength to undertake large orders and respond quickly, and has strong competitiveness in the industry.

Iii. Risks faced by the Company and Countermeasures

1. Risks faced by the company:

There may be risks in operation, product quality control, finance and equity dispersion in the company’s operation.

(1) Operational risks

A) risk of macroeconomic fluctuation

The company’s main products are precision shafts and precision cutting parts, and its downstream fields are mainly automobile parts industry. The demand of downstream industries is closely related to the macro-economy. The periodic fluctuations of international and domestic macro-economy and the changes in consumption capacity and consumption demand caused by unexpected events will have an impact on the products produced and sold by the company. If the macro-economy continues to deteriorate, the economy will decline, the downstream automobile industry of the company will be depressed or major adverse changes will occur, which will have an adverse impact on the company’s production and operation.

B) Risk of price fluctuation of main raw materials

The main raw material for the company’s production is steel, and the price change of steel is one of the main factors for the company’s production cost change. With the increase of the company’s sales revenue, the actual consumption of steel is also increasing. If the steel price continues to fluctuate greatly in the future, it will directly affect the company’s production cost and gross profit margin. If the product price cannot be adjusted or taken in time, it will affect the company’s performance.

C) Risk of decline in production and sales of automobile industry

The decline of production and sales in the automobile industry has a great impact on the automobile parts industry. For example, if the production and sales of automobiles decline in the future, the company’s order demand may face fluctuations, which will have a negative impact on the company’s production and operation.

(2) Product quality control risk

The company’s main customers are internationally renowned auto parts suppliers, and customers have strict requirements on the quality of products. If the company’s product quality problems cause losses to end customers, it may lead to the risk of paying back the claims to customers or even terminating the cooperation relationship, which will have a significant adverse impact on the company’s business development.

(3) Financial risks

A) Risk of bad debts in accounts receivable

By the end of the reporting period, the company’s balance of accounts receivable was 183,286,600 yuan, accounting for 62.89% of the current operating income. Most of the company’s customers are large-scale auto parts suppliers with strong strength and long-term cooperative relationship, with good capital status, high credit rating and low risk of bad debts. The company has made corresponding bad debt reserves in accordance with accounting standards. With the expansion of the company’s future business scale and the increase in the number of customers, the risk of bad debts of accounts receivable caused by the deterioration of the financial situation of individual customers or poor management of accounts receivable of the company cannot be ruled out.

B) risk of inventory impairment

As of the end of the reporting period, the company’s inventory balance was 114,344,500 yuan, and the company’s main inventory has corresponding orders or production plans. However, if the customer’s order demand cannot be met due to factors such as product quality and delivery cycle, or the customer adjusts or cancels the order due to fluctuations in the downstream market demand of the products, the company’s products may not be sold normally, which will lead to the loss of inventory, which will adversely affect the company’s operation.

C) exchange risk

During the reporting period, the export income accounted for 31.92% of the main business income, and part of the company’s production equipment and raw materials were purchased from abroad.

At the same time, the company’s customers are mainly well-known suppliers in the global auto parts industry, while foreign customers and suppliers and companies generally use foreign currency for settlement. If the exchange rate of foreign currency against RMB fluctuates greatly, it will have a certain impact on the company’s operating performance.

D) risk of impairment of goodwill

In October 2018, the company acquired the remaining 77.5% equity of Jinhua De, and Jinhua De became a wholly-owned subsidiary of the company. At the end of the reporting period, the amount of goodwill confirmed by the company due to the acquisition was RMB 50,744,100. If Jinhua De’s operation can’t realize the income well in the future, the goodwill formed by the acquisition of Jinhua De’s equity will have the risk of impairment, which will adversely affect the company’s operating performance.

(4) the risk of equity diversification

The company’s equity is relatively scattered, and the controlling shareholder Demex Investment holds 16.73% of the shares, so there is a risk that the controlling stake will be unstable. If the control right changes, it may have a certain impact on the company’s business or management.

2. In view of possible risks, the Company has taken and plans to take countermeasures:

(1) Building "Wisdom and Virtue"

Demais will further strengthen digital and intelligent investment and realize the transformation from manufacturing to intelligent manufacturing as soon as possible; Optimize the company’s technology and production process, introduce advanced equipment at home and abroad, transform equipment to improve automation level, improve production efficiency, reduce redundant personnel, build a smart factory with high quality, high efficiency and low operating cost, and ensure the company’s dominant position in industry competition.

(2) Strengthen product competitiveness and increase customer development.

Demax has always adhered to the core business philosophy of "all customer needs are the center", taking customers as the guide, strengthening customer management, enhancing customer stickiness with products with better product quality and service and more cost-effective advantages, and further consolidating and developing the strategic cooperative relationship with customers; Through continuous process improvement and perfection of existing products, the technical performance of products is improved; Actively track the competitive situation of the industry, grasp the wind direction of the industry, and flexibly adjust the market competition strategy and management strategy; Through technological innovation and advantages, we will improve the joint development capacity and production capacity of new products, continue to strengthen the development and follow-up of customers’ new energy auto parts business, actively expand the application fields of products and gain new profit growth points.

(3) Strengthen the efforts to control fees and reduce costs.

Relying on the cost control center, we will continue to deepen the achievements of improving quality, reducing costs and increasing efficiency through effective management measures such as cost consumption control, cost control in production and operation process and quality cost control, and continuously improve the profitability and cost control ability of enterprises; By combining the advantages of bank credit promotion with the characteristics of procurement and sales, we can further control costs with customers and suppliers of the company in a win-win situation; Reduce raw material costs by strengthening diversified and closer strategic cooperation with raw material suppliers and integrating raw material categories; Continuously improve the level of lean management and optimize and improve the operation in a whole chain and system.

(4) Promote the company’s management level to a new level.

Formulate long-term and short-term performance incentive assessment systems, systems and schemes, so that the company’s management and core employees can share the dividends of the company’s performance growth; Strengthen the talent echelon construction of company executives and middle-level cadres, and encourage and support the introduction of more young and capable employees into the core decision-making and executive levels; Promote and encourage the company’s senior executives and core employees to strengthen exchanges and study with the outside world, broaden their eyes, learn from advanced management models, and promote the company’s high-quality sustainable development.

(5) Improve the R&D system and consolidate the technological strength.

Further establish and improve the technological innovation mechanism, actively participate in the joint development system of customers’ products, carry out forward-looking development of technical routes, and continuously improve the product development capability, the manufacturing capability of complex process precision parts, the proportion of high value-added products, and the product yield; Create a good R&D mechanism and innovative atmosphere, strengthen cooperation in Industry-University-Research, strive to recruit and introduce talents to build a high-level R&D team, and form a professional technical R&D echelon in the field of precision shafts and precision cutting parts; Continuously optimize production technology, greatly improve production efficiency, enrich product lines, and develop new key products, so as to further expand market share and reduce production costs with the advantages of centralized large-scale production.

(6) Enhance the ability to cope with exchange rate risks.

Proceeding from the business objectives and overall business layout, the Company has continuously improved the exchange rate risk management system, selected more favorable settlement methods and settlement time points, prevented exchange rate risks by using derivative financial instruments, timely tracking and mastering exchange rate fluctuations, and strengthened cooperation with financial institutions such as banks, so as to enhance the sensitivity and response ability to exchange rate changes.

(7) Make Demaishi bigger and stronger

In order to smoothly implement the company’s future development plan and objectives, the company will further obtain financial support through bank loans, financial leasing, issuance of corporate bonds, shares and other financing methods. If the conditions are ripe in the future development process, it is not excluded to expand the production scale, acquire advanced technology and increase sales channels through overseas acquisitions, so as to further enhance the cooperation level between the company and large auto parts enterprises in a short time and increase the comprehensive competitiveness of the company.

(8) Maintain the stability of the company’s control rights in the future.

The controlling shareholder, actual controller, more than 5% shareholders and four non-independent directors who are senior managers of the company have issued relevant commitments to maintain the stability of the company’s control rights in the future.

Nanning BMW i4 is on sale, with a maximum discount of 94,000! If you miss it, you won’t

[car home Nanning Preferential Promotion Channel] At present, preferential activities are being carried out in Nanning market, with a maximum discount of 94,000 yuan and a minimum starting price of 343,900 yuan. Consumers can seize this opportunity, click "Check the car price" in the quotation form, and strive for higher discounts.

南宁宝马i4正在优惠,最高优惠9.4万!错过就没有

The exterior design of BMW i4 highlights its electric identity and sports style. The front face adopts a family-style kidney-shaped air intake grille, which, combined with the sharp headlight group, creates a strong visual impact. The overall body lines are smooth and dynamic, showing the sports genes of BMW brand. In addition, i4 also adopts a unique aerodynamic design, which further improves the performance and endurance of the vehicle.

南宁宝马i4正在优惠,最高优惠9.4万!错过就没有

BMW i4 has a body size of 4785*1852*1455mm and a wheelbase of 2856 mm. It has slender and smooth side lines, with a front tread of 1601mm and a rear tread of 1630 mm. It is equipped with 245/45 R18 front tires and 255/45 R18 rear tires, and a dynamic rim design, which makes the whole car look more dynamic.

南宁宝马i4正在优惠,最高优惠9.4万!错过就没有

The interior design of BMW i4 shows the perfect combination of luxury and technology. The steering wheel wrapped in leather feels excellent, and supports manual adjustment up and down and back and forth, providing a very high driving comfort. The 14.9-inch oversize screen on the center console integrates the control functions of multimedia system, navigation, telephone and air conditioner, and supports voice recognition control, bringing convenient and intelligent operation experience to drivers. In addition, the front seats are equipped with heating function, and the main driver’s seat also has electric seat memory function to ensure the driver’s comfort. In terms of seat material, it provides a variety of choices such as imitation leather, genuine leather and leather /Alcantara mix and match to meet the needs of different users. The front row and rear row are equipped with USB and Type-C interfaces, which support the wireless charging function of mobile phones, ensuring that mobile devices keep sufficient power at any time.

南宁宝马i4正在优惠,最高优惠9.4万!错过就没有

BMW i4 is equipped with an efficient power engine with a maximum power of 210 kW and a maximum torque of 400 Nm, which provides a strong power output for the vehicle.

Car home car owners spoke highly of the BMW I4: "The configuration parameters of 3, 5 and X3 of the I series are almost the same, only the shell has been changed. I want to buy the i4 if I spend more than 100,000 yuan, just for a personality. Of course, it is still imported, so there is no need to do such a thing as buying it home and deducting the label. At first glance, the big nostrils are not mediocre. When I drive out, people are guessing at 600,000. I am sorry. "

Huawei enjoys the 70S official release: long battery life+big screen experience+enjoy the X button, and the experience will be upgraded!

  On May 28th, the official Weibo of Huawei Terminal released a picture of the product and a pre-heated poster of the big coffee show. The official announced the official release of the new generation Enjoy 70S, and will start the first sale on May 30th.

  Judging from this official product map, the new generation of Enjoy 70S not only continues the powerful genes of Enjoy Series, but also makes further breakthroughs in design, screen, battery, storage and operation experience, bringing users a brand-new computer experience.

Huawei whale super endurance system, lasting and safer.

  The endurance of mobile phones has always been one of the issues of general concern. No matter what gear of the mobile phone, if the chain is often dropped due to insufficient battery life, then the experience will be greatly reduced. On the one hand, strong endurance depends on large-capacity energy reserve space, on the other hand, it needs the ability to quickly replenish energy.

  Huawei Enjoy 70S is equipped with a 6000mAh (typical) battery. The larger battery capacity brings more lasting endurance. Compared with the previous generation of Enjoy products, its endurance has increased by 14.16%. When fully charged, you can play video for 34.2 hours, listen to music for 120.84 hours, surf the Internet for 27.01 hours or talk for 41.22 hours. In other words, even if you are in a heavy-duty scene, it can easily persist for a whole day, no matter playing games or brushing videos, you don’t have to worry about the reminder of insufficient power in the middle. Even if you are a non-heavy user, charging twice a week is enough to meet the needs of daily use, and you don’t have to remind yourself that you must charge your mobile phone before going to bed, so you can use it with more peace of mind.

  Even if the power is really in a hurry, you don’t have to worry. In the case of 22.5W Huawei super fast charge, Huawei can enjoy 70S charging for 10 minutes to support continuous viewing for 3.2 hours. The efficient charging efficiency allows users to easily get rid of power anxiety and quickly return blood, so that you can keep high energy at all times. Whether you are going out to work, traveling outdoors, chasing dramas at home, or organizing a black party, Huawei’s 70S super battery life can bring you a more comfortable experience.

6.75 inch AOD high brush eye protection screen, the screen is bigger and clearer.

  On the big screen experience, Huawei enjoys 70S and brings a 6.75-inch AOD high-brush eye protection screen, which reduces the area occupied by the camera as much as possible, achieving a screen ratio of 90.26%. Whether browsing the web or watching videos, you can enjoy a more immersive visual experience and show the advantages of the big screen.

  At the same time, Huawei enjoys 70S to support 10,000-order dimming, and the light adjustment is smoother and smoother. It can realize self-adaptive adjustment of the screen display brightness under different ambient light illumination, which is not only a daylight screen, but also a luminous eye protection screen, bringing a more comfortable reading experience; It also supports eye protection mode, and has obtained the Swiss SGS eye protection certification with low blue light and no stroboscopic. This is the first time that Huawei enjoys this certification, which can effectively reduce visual fatigue and make it more comfortable to watch.

  In addition, Huawei enjoys 70S and brings full-screen AOD off-screen display function based on LCD screen, which can directly read date, time, power and various important information without jumping by touching the screen, making it more efficient and convenient to use. At the same time, it is also equipped with a variety of AOD off-screen display themes, which support custom settings, and the personality is free and changeable with you.

Enjoy the X key, and the common functions can be directly accessed by one key.

  Nowadays, smart phones are more and more versatile, and all kinds of applications can be used on mobile phones. But this also brings a problem-it is difficult for users to quickly locate the corresponding App when they need to use a certain function. Huawei enjoys the X button on the 70S, which can simplify the operation steps of the mobile phone to the greatest extent in some high-frequency scenes, and bring a one-click direct experience.

  Specifically, there are three interactive ways to enjoy the X key: click, double click and long press. Click the outgoing application Jiugongge, which is essentially a folder, and can quickly open commonly used applications or services of users, such as payment codes, cameras, flashlights, etc. For example, if you need to take a taxi frequently, you can set the taxi APP to the Jiugongge interface, so you can quickly open the taxi software by clicking Call Out. Moreover, the Jiugongge application supports user customization and covers daily high-frequency usage scenarios. Whether you are a student, an office worker or a takeaway brother, you can optimize Jiugongge according to your daily needs.

  In addition, enjoying the X key also allows users to set "double click" and "long press" respectively to jump to the corresponding core applications, such as payment code and boarding code used by UHF, which can be called with one key, which is efficient and convenient. For example, if you need to commute by bus and subway every day, you can set the long press to open the boarding code with one button, so that you can easily realize one-button riding; Another example is weekend shopping. Generally speaking, there is a huge flow of people on holidays in the city business circle, and it is very likely that the mobile phone has a signal and no network. At this time, we can set the double click of the X key as the payment code of Huawei wallet, WeChat or Alipay in advance, so that even if the mobile phone encounters network congestion, it can be easily settled through offline payment, avoiding the embarrassing scene that the application interface cannot be opened in a hurry.

  It is worth mentioning that Huawei enjoys 70S, and can also set up a designated contact call for the elderly or children at home. When an emergency happens, it can quickly call the designated contact to protect the safety of users.

The new HarmonyOS 4 makes the smart experience safer.

  On the system side, Huawei enjoys the 70S equipped with the new HarmonyOS 4 operating system, bringing a smarter, more convenient, smoother and safer interactive experience. The live window function supported by it can present the real-time service status of the application at any time, so that you don’t miss important reminders; The notification center with brand-new visual effect optimizes the information presentation logic of the notification center, gives priority to notifications, gives priority to reminders, and makes key information clear at a glance, which can effectively reduce the time cost of user information search.

  In addition, Huawei’s enjoyment of 70S has also brought a brand-new security and privacy center to users. When a third-party APPlication obtains your permission, it will send out a privacy reminder notice and locate the app to help users block unauthorized permission calls in time; At the same time, it also provides a number of security protection functions, such as application lock, password safe, file locker and so on, to protect your data security at all times. Add the right of "application obtains device direction" to help users reduce the disturbance of "shake" advertisement when the application opens the screen; The brand-new application control center in pure mode can actively control risks at key nodes such as application installation and operation, make risks more controllable, further enhance users’ privacy and security, and create a safe use environment.

  In addition to the above-mentioned core advantages, Enjoy 70S has also upgraded its ID design, storage and imaging system. Huawei Enjoy 70S inherits the aesthetic genes of Huawei Enjoy Series, adopts dazzling star ring design, and the proportion of details is just right, so as to achieve a formal order balance. In memory, 256GB storage space, whether it is wonderful photos or videos to record life, or all kinds of work files, downloaded e-books or movies, can be easily included in Huawei’s enjoyment of 70S, without being deleted from time to time, allowing you to realize storage freedom. In terms of image, Huawei enjoys the 70S equipped with a 50-megapixel high-definition image system, and the image is upgraded again. Whether it is super night scene, macro photography or intelligent motion capture, it is easy to handle; It also supports AI beauty, which can provide differentiated beauty effects for different genders and ages, and make it clearer and more beautiful.

  The original intention of Huawei’s Enjoy Series is to let users enjoy the new technology while taking into account the exquisite appearance, so it is deeply loved by young users. Through continuous insight into users’ needs, Huawei Enjoy Series has also brought many popular highlights, offering users a brand-new technology feast. Judging from the preheating poster of Huawei’s official big coffee show, we can enjoy the 70S formal meeting with Huawei on May 30th, and then we can go offline to experience the wonderful experience of using the computer with both technology and fashion.

Fenglanda sells nearly 20,000 units a month, which is the first choice for young families to buy a car because of its superior product strength.

Nowadays, young family consumers like those born after 1990s or even after 00s are always willing to pay for the "freshness". They want to taste the new milk tea, punch in the new online celebrity scenic spots, and even want to take the new tram home at a glance. After all, who doesn’t feel excited because of its avant-garde shape and full sense of technology? I am also moved!

Is the heartbeat appropriate? As a post-90s generation who worked hard in Chengdu for 10 years, my wife and I are both ordinary office workers. A tram may give us enough turn-around, but after all, we can’t eat. In other words, for our family of three, we need a car that is reliable enough, worry-free enough and more cost-effective. At this year’s Chengdu Auto Show, we met Feng Landa (parameter picture) intelligent electric hybrid twin engine, and after in-depth understanding, our ideas were strengthened.

In the era when new energy is highly touted, Fenglanda has withstood the pressure. Since its listing in January 2022, its cumulative sales volume has reached nearly 200,000. From January to August 2023, its cumulative sales volume has reached 102,351 units, especially in the past August, its monthly sales volume reached 19,839 units, up 116% year-on-year, making it the first choice for many young families to buy cars. And the owner’s eyes are discerning. Fenglanda intelligent electric hybrid twin engine not only has excellent price, low car cost and online intelligent safety configuration, so I quickly made a choice between it and Tucki G3, which I had taken a fancy to before.

1. Great value! Sincere prices can impress young families more.

Our budget for buying a car is about 150,000 yuan, which coincides with the price of Fenglanda intelligent electric hybrid twin-engine. More importantly, the starting price of the car is 149,800 yuan, plus 8,000 yuan for gratitude in September and 2,000 yuan for Mid-Autumn Festival reunion. The dealer can also get a discount of 5,000 yuan to 8,000 yuan, and the bare car price is about 130,000 yuan, which is more in line with my psychological price. If we handle the installment, there are also "0 down payment car" and "60% down payment for 2 years and zero interest financial policy", which greatly reduces our car purchase pressure.

Of course, Tucki G3, which we started with, is also at the same price, with the guide price of 148.9-176.9 million yuan. However, there is no discount on this car at present, which is still unacceptable to us who pay attention to cost performance. As a result, the price comparison between the two cars is actually very obvious.

2, the same acceleration, of course, to pick a texture.

From the specific performance of the product, as a family car, driving comfort and safety are my greatest concern. Fenglanda intelligent electric hybrid twin-engine is equipped with Toyota’s fifth-generation electric hybrid technology, and adopts a self-priming engine with a large displacement of at least 2.0L at the same level. The comprehensive power of the system is 144kW, and the measured acceleration of the car is 8.57 seconds. Tucki G3 is equipped with a single motor, which accelerates 8.6 seconds per 100 kilometers. Although the acceleration experience of the two cars is equivalent, after the test drive, I feel that there are great differences in driving quality between the two cars.

With Toyota’s many years of experience in research and development of vehicle-building and electric hybrid technology, Fenglanda intelligent electric hybrid dual-engine oil and electricity are distributed according to demand. For example, it is driven by motor at the beginning and has fast response; High-speed is driven by engine and motor, even if it accelerates at high speed, it is very emboldened, which is the pain point of the tram. The peak torque of Tucki G3 is as high as 300N·m, which means that it has a strong explosive force. If you pursue the ultimate sense of movement, you should like it, but it is too radical for me, especially considering the family’s riding experience, you will prefer the ride comfort and comfort of Feng Yu Landa intelligent electric hybrid twin engine in driving, with 5.2.

In terms of safety, the Fenglanda intelligent electric hybrid twin-engine comes standard with the T-Pilot intelligent driving assistance system. This system has many functions and is also very practical. For example, if the vehicle deviates from the lane when driving, the system will automatically correct the steering wheel. If it is predicted that there is danger, it will also control the steering wheel to take the initiative to avoid it and stop when necessary.

Urban driving environment is complex, and it is inevitable that there will be unexpected situations, and people’s response is limited, so assisted driving will play a role at this time. Besides, this system comes standard on the intelligent electric hybrid twin-engine of Fenglanda, even in the entry-level version, and the price of Tucki G3 equipped with L2-class auxiliary driving system has reached 160,000. In addition, Fenglanda intelligent electric hybrid twin engine comes standard with 7 airbags, including front side airbags and knee airbags, which are also more sincere than Tucki G3, and safety is also very important to us.

3, the car cost is low, and there is no charging anxiety.

Family car, car cost also needs to be considered, which was originally the advantage of GAC Toyota, and Fenglanda intelligent electric hybrid twin engine went further. I saw on the Internet that the measured fuel consumption of this car is only 3.5L/100km, and the fuel cost per kilometer is 0.28 yuan, which is almost comparable to the energy consumption cost of pure electric vehicles, and there is no need to charge, especially for families like us who have no fixed parking space and can’t install charging piles. In fact, it is not only pure electricity, but also a plug-in hybrid car, which is not very convenient to use. The power battery is often troubled by the sudden increase in fuel consumption when it is in a state of power loss. Fenglanda intelligent electric hybrid twin-engine has low fuel consumption without charging, and its comprehensive battery life can reach 800 kilometers, which is really beautiful.

The NEDC of G3 in Tucki has a battery life of only 520km, so it’s OK to travel in cities, but it’s actually quite troublesome when it comes to crossing cities. I’m afraid that there is no electricity halfway and I can’t find a charging pile, which not only affects the travel efficiency, but also greatly reduces the experience. Moreover, since July, the charging cost of public charging piles has continued to rise, and even nearly doubled during the peak period. The cost of car use has suddenly risen, and the tram owners around me are complaining. In fact, it has sounded an alarm for me. Although new energy is a trend at the moment, it is still full of variables, which is also a matter of great lack of "security" for car owners.

4, rich in scientific and technological intelligence configuration, and better understand the needs of young families

As a young man, I am also looking forward to the intelligent experience in the car. In this respect, Tucki G3, as a new force, has no physical buttons in the design of the car, and almost all functions are concentrated in the central control big screen, while Fenglanda intelligent electric hybrid twin-engine has a pragmatic design layout and intelligent experience.

Fenglanda intelligent electric hybrid twin-engine comes standard with a 10.25-inch central control panel, which supports three modes of car-engine interconnection: CarLife/CarPlay/HiCar. No matter what mobile phone type of the system, it can be easily interconnected, while Tucki G3 is not. It is a self-contained car-engine interconnection system and needs to be interconnected through a dedicated App, so look at personal car habits. Personally, I prefer Fenglanda intelligent electric hybrid twin-engine.

In addition, the voice control of Fenglanda intelligent electric hybrid dual-engine is not only accurate, but also supports dialects such as Sichuan dialect and Cantonese, which is quite convenient. The retention of physical buttons is also more humanized, especially in driving. On the whole, it is very rare that the Fenglanda intelligent electric hybrid twin engine did not ignore the sense of experience in pursuit of intelligence.

@ 亵亵亵:

Of course, new energy vehicles have their advantages. For example, Tucki G3 is really handsome enough, and some experiences are novel enough, which is very attractive to young people who like new things. However, returning to rationality, it is undoubtedly wise for a young family like us to choose a more value-added model within the budget after weighing, especially at the moment when the price of "Golden September and Silver 10" is fragrant, and the "golden signboard" of GAC Toyota can be regarded as "the right time and the right place". Of course, the right one is the best. It can only be said that if you also have a budget of about 150,000 yuan and want to start an SUV model with no charging anxiety, reliability and great value, Fenglanda intelligent electric hybrid twin engine is undoubtedly worth considering.

Lynk & Co 08 new energy price reduction news in Beijing! The reserve price 178,800, not to be missed

[Autohome Beijing Discount Promotion Channel] Hot news, there is a promotion not to be missed in Beijing area. In order to give back the support of consumers, Lynk & Co 08 new energy models are now offering cash discounts of up to 17,000 yuan, and car buyers can enjoy real car benefits. The minimum starting price has been reduced to 178,800 yuan, providing car buyers with a very competitive car purchase option. If you are interested in Lynk & Co 08 new energy, click "Chatti Car Price" in the quotation form to seize this excellent car purchase opportunity and get a more favorable price. Act quickly, don’t miss this rare discount opportunity!

北京地区领克08新能源大幅降价!底价17.88万,不容错过

Lynk & Co 08 New Energy creates a striking appearance with its unique design concept. The front part adopts a family-style starship design, and the eye-catching split headlights are like a meteor in the night sky. They blend with the wide air intake grille to show the perfect combination of power and technology. The overall style is stylish and dynamic, and the lines are smooth, which not only highlights the urban atmosphere but also contains the concept of environmental protection. The body lines are simple, and the streamlined design of the roof reduces wind resistance, showing the futuristic feeling of new energy models.

北京地区领克08新能源大幅降价!底价17.88万,不容错过

Lynk & Co 08 New Energy’s streamlined body design outlines a unique side profile. Its body size reaches 4820mm*1915mm*1685mm, and the wheelbase reaches 2848mm, ensuring a spacious and comfortable interior space. The front and rear wheel tracks are 1635mm, providing good stability and handling for the vehicle. In terms of tire specifications, it uses 235/55 R19 tires with dynamic rim design, which not only provides good grip, but also adds a fashionable atmosphere to the overall appearance.

北京地区领克08新能源大幅降价!底价17.88万,不容错过

The interior design of Lynk & Co 08 new energy is dominated by delicacy and technology, and the overall atmosphere of luxury and comfort is presented. The center console adopts a 15.4-inch high definition touch screen, with advanced automatic speech recognition control system, which is convenient for the driver to control various functions such as multimedia, navigation, telephone and air conditioning. The steering wheel is made of genuine leather, which not only feels comfortable to hold, but also supports manual up and down + front and rear adjustment, providing the best operating space required by the driver. The number of USB and Type-C interfaces in the car is sufficient, and there are two in the front and rear rows to meet the charging needs of passengers’ electronic devices. At the same time, it is equipped with wireless charging function of mobile phones, which further enhances the convenience.

In terms of seats, luxury leather materials are used to ensure the comfort of the ride. The main driver’s seat is equipped with front and rear adjustment, backrest adjustment, high and low adjustment (4 directions) and waist support (4 directions), and is equipped with heating, ventilation and massage functions, taking the driving experience to the next level. The passenger seat also supports multi-directional adjustment, with leg rest adjustment and waist support. The driver’s seat is also specially equipped with headrest speakers, which enhances the entertainment experience. In addition, the power seat memory function allows the driver and passengers to quickly find the most comfortable sitting position, and the second row of seats also supports backrest adjustment, which makes space utilization highly flexible. The entire interior design fully reflects the attention and satisfaction of Lynk & Co 08 new energy to the needs of passengers.

北京地区领克08新能源大幅降价!底价17.88万,不容错过

The Lynk & Co 08 New Energy is powered by a 1.5T turbocharged engine with a maximum power of 120 kW and a strong output. This engine has 163 horsepower, which can meet the needs of daily driving. A matching 3-speed DHT transmission further optimizes power transmission, ensuring vehicle ride comfort and fuel economy.

Summarizing the owner’s comments, he is very satisfied with the body color and wheel hub selection of Lynk & Co 08 New Energy, believing that they give the vehicle a unique personality and dynamic feel. He also praised the fine workmanship of the vehicle’s body, even if the weight is not small, it can still show an amazing thrust-to-weight ratio, resulting in excellent acceleration performance. The design of the front and rear of the car has also been recognized by him. The front of the car is like a happy big boy, and the unique LYNK & CO logo and through-the-rear taillights at the rear make it highly recognizable. Finally, Arowana’s decision to upgrade the waist line of the vehicle and upgrade to 21-inch wheels emphasizes its balance between fashion and domineering. Overall, Lynk & Co 08 New Energy has won the favor of car owners @arowana from Jiangsu due to its excellent design and performance.

Guangzhou Volvo XC90 new energy special sale! Offer 186,000, limited quantity

[Autohome Guangzhou Discount Promotion Channel] Good news! In order to allow more consumers to experience excellent performance and green driving pleasure, an unprecedented promotion is currently underway in Guangzhou. As a high-profile luxury new energy model, XC90 New Energy can enjoy up to 186,000 car purchase discounts, and the minimum starting price has been reduced to 708,900. This is not only a rare car purchase opportunity, but also a real profit for consumers’ wallets. If you are interested in XC90 New Energy, be sure to click "Check Car Price" in the quotation form to lock in this rare discount and add more possibilities to your green travel plan.

广州沃尔沃XC90新能源特价出售!优惠18.6万,数量有限

The Volvo XC90 New Energy inherits the classic design of the family, and the front part shows a unique sense of power. The iconic Quake LED daytime running lights are embedded in the air intake grille, giving the vehicle a distinct identity. The body lines are smooth, elegant and powerful, and the overall style reflects both luxury and environmental protection. Modern, showing Volvo’s meticulous attention to detail and sustainability.

广州沃尔沃XC90新能源特价出售!优惠18.6万,数量有限

The Volvo XC90 New Energy is shown by its exquisite body proportions and elegant side lines. With a body length of 4953mm and a width of 1958mm, it creates a spacious and dynamic visual effect. The 275/45 R20-size tires are paired with a stylish rim design, which not only provides a solid grip, but also adds a sporty atmosphere to the vehicle. The wheelbase is 2984mm, ensuring comfort and driving stability in the interior space.

广州沃尔沃XC90新能源特价出售!优惠18.6万,数量有限

The Volvo XC90 new energy interior design is full of luxury and technology, and the exquisite leather steering wheel provides excellent grip, supports manual up and down + front and rear adjustment, so that the driver can always maintain a comfortable control experience. The center is equipped with a 9-inch large screen, equipped with automatic speech recognition control system, which can easily control multimedia, navigation and telephone, enhancing driving pleasure and convenience. The seats are made of fabric and leather, and the front seats provide heating, ventilation and massage functions to ensure passenger comfort. The driver and passenger seats also have power seat memory functions. In addition, the seat adjustment function is comprehensive, including front and rear, backrest, high and low, as well as leg rest and waist support, to provide passengers with a personalized riding experience. The rear seats support front and rear adjustment and proportional reclining to meet the diverse space needs. The overall interior design not only focuses on practicality, but also reflects the careful carving of details and the consideration of the driver and passenger experience.

广州沃尔沃XC90新能源特价出售!优惠18.6万,数量有限

The Volvo XC90 is powered by a 2.0T turbocharged engine with a maximum power of 228 kilowatts and a maximum torque of 400 Nm. The engine delivers 310 horsepower and is paired with an eight-speed automatic transmission to ensure smooth and efficient driving.

Overall, as an Autohome owner’s experience sharing, Volvo XC90 New Energy has won him deep admiration for its simple and atmospheric body design and unique Thor’s hammer and Viking axe elements. He specifically mentioned that the design of the front of the car is more attractive to him, which undoubtedly brings extra pride to the driver. Whether it is visually or driving experience, XC90 New Energy undoubtedly satisfies the owner’s pursuit of quality and personality.

Yang Mi celebrates Yang Ying’s birthday late at night, Wang Zulan: Happy birthday, brother


1905 movie network news On February 28, Angelababy () celebrated its birthday, and friends, friends, and others in the circle rushed to offer their blessings in the early morning, confirming Yang Ying’s popularity in the circle.


Yang Mi called Yang Ying "Teacher Yang" and posted three selfies of the other party saying: "You look the best today, love you." Yang Ying replied her love: "Thank you Teacher Yang, I love you too."


Another beautiful woman, Ni Ni, also posted a photo of Yang Ying and wished her a happy birthday, peace and joy. In contrast, actor Wang Zulan’s wishes were very direct, "Happy birthday, brother." Yang Ying also expressed her gratitude as a brother.


Feng Xiaogang and Wang Sicong tear each other "Pan Jinlian" Wanda’s film placement is low, with an average value of 30%

   1905 movie network news At 12:30 noon today, director Feng Xiaogang released an open letter to Wanda Group Wang Jianlin on Weibo, using Pan Jinlian’s tone to attack Wanda Group because the former leader left to go to Huayi, which caused Huayi’s films to be 30% lower than the average of major theaters in the country. The most direct influence was directed by Feng Xiaogang. Its language is also very sharp: it has affected Chairman Wang’s hegemony over the world, and the little woman is a big crime.

    "There is a small company called Huayi," Feng Xiaogang said in the open letter. "In order to save the fate of its destruction, a small corner was dug from your group – no, no, Chairman Wang, forgive the misnomer of the little woman, the corner of the small wall is not considered, it is just a small piece of wall skin." The implication that Wanda Group’s former executives left to Huayi caused internal dissatisfaction. Since then, Huayi’s films have been banned by Wanda Cinemas, and Wang Jianlin has been mocked for being "childish in business without talking about business". The current chairman of Wanda Group is Wang Jianlin, and according to people familiar with the matter, the former Wanda executive involved in the incident is Ye Ning.

    Later, Fan Bingbing also forwarded the Weibo post from Director Feng to express his support, saying that "movies are not easy, and it is important to help each other."

Fan Bingbing Weibo screenshot


    Then, Wang Sicong responded to Feng Xiaogang and said: You are only allowed to squeeze out others, are we not allowed to be displeased? And warned Feng Xiaogang that if the box office is good, we will of course increase the number of films.

    Then, Feng Xiaogang quickly forwarded Wang Sicong’s Weibo, saying: What I like most is your open-mindedness and honesty! And questioned the principle of Wanda’s dedication agreement.


    However, the matter did not end like this. Huayi Brothers issued an official statement saying: As a listed company, the decision should be made to protect and respect investors as the first premise. As a listed film company, it should promote excellent films and industries as its own responsibility. Wang Zhonglei then forwarded Wang Sicong’s Weibo response, taking Du Yang, the former director of Huayi Brothers’ film marketing, and the former co-general manager of Huayi Brokerage Company as an example, saying that the personal flow in the industry is very normal. And the words also expressed their anger.

Lu Chuan, the famous director, also later expressed his views on the incident: "If a loud and noisy uproar can be transformed into attention and scrutiny of the film itself, this may be the greatest blessing for the film; if the empty ground is left with chicken feathers and melon rind, and the film is stranded on the beach alone, this is the greatest sorrow for the filmmaker." Lu Chuan went on to compare "I Am Not Pan Jinlian", a critical realist film that has undergone rebirth, to the local "120 Frames" and "Intermission". Finally, he also expressed his blessing for the film’s box office.

Screenshot of Lu Chuan Weibo

    "I Am Not Pan Jinlian" was officially released today (November 18). The average of the film in other cinemas across the country is more than 40%. At present, Wanda’s cinema line-up is 30% below the average. And according to the current schedule, "I Am Not Pan Jinlian" has only three movies in the major cinemas of the Wanda Cinema Chain Golden Field, one of which is a VIP show.

Screenshot of real-time theater layout

    "I am not Pan Jinlian" after several months of publicity, the film has accumulated a very high degree of attention, the release income has been 75,000 scheduled, the national average of more than 40% of the film, as of press time, the film’s real-time box office has exceeded 20 million, which is almost the first day of "Billy Lynn’s Midfield War" box office results.

Next page: Full text of "A Letter from Pan Jinlian to Mr. Wang Jianlin" issued by Feng Xiaogang Weibo

China Xinggu went to Greater Bay Area to attract more than 10 billion yuan.

Hubei Daily News (Reporter Liu Chang, correspondent Cheng Shuxiong, Ba Yangang) On May 8, Xinzhou District of Wuhan held a promotion meeting for attracting investment in Shenzhen. Many well-known domestic enterprises planned to invest more than 10 billion yuan in the Wuhan National Aerospace Industry Base named "China Xinggu".

At the promotion meeting, more than 50 key enterprises and research institutes, including Shenzhen Investment Holding, Shenzhen Yiyatong Supply Chain Company, Zhongchuan Huaxia International Travel Group, Zhuhai Obit Aerospace Science and Technology Company and Shenzhen Research Institute of Wuhan University, gathered together to seize the new track and talk about "new opportunities".

China’s first flexible intelligent satellite batch production line was completed and put into operation, with an annual output of 240 satellites; Since 2022, the world’s leading new solid rocket Kuaizhou No.11 has been successfully launched. The "Xinzhou Made" Kuaizhou rocket has 6 battles and 6 victories, and the rocket company has been promoted to the unicorn enterprise in China; The base has initially realized the gathering pattern of stars, arrows, clouds and aerospace materials … The efforts and prospects of "China Star Valley" to actively build China Aerospace roof of the world have strengthened Greater Bay Area entrepreneurs’ confidence in investing in Xinzhou. Eight entrepreneurs from Greater Bay Area were employed as "ambassadors for investment promotion" in Xinzhou District.

On the same day, a total of seven projects were signed in the fields of aerospace, new materials, intelligent manufacturing and big health, with a total investment of 16.5 billion yuan. Among them, the Wuhan National Aerospace Industry Base in Xinzhou signed an investment of more than 10 billion yuan, accounting for over 60%.

From the government-led to the main scientific and technological investment of enterprises, the innovation power is surging.

  Investment of R&D funds from 1953 to 2017

  Sharp tools make good work. Investment in science and technology is the necessary condition and basic guarantee for scientific and technological progress. Since the founding of New China 70 years ago, China has gradually established a national science and technology investment system that adapts to the characteristics of the socialist market economy system.

  "The continuous improvement of the national science and technology investment system and the sustained and rapid growth of research and development (R&D) funds have stimulated the vitality of scientific and technological innovation in the whole society and strongly supported the country’s scientific and technological progress and rapid and stable economic and social development." Zhu Yingchun, deputy director of the Institute of Science and Technology Statistics and Analysis of the China Academy of Science and Technology Development Strategy, said in an interview with the Science and Technology Daily reporter.

  A historic breakthrough was achieved in the scale and intensity of R&D funds.

  The R&D expenditure of the whole society is an important component of the national (regional) investment in science and technology, an important indicator to measure the national (regional) investment in science and technology, and an important indicator to observe and analyze the national (regional) scientific and technological development strength and competitiveness.

  Since the founding of New China, especially since the reform and opening up, with the promulgation and implementation of various national economic policies and science and technology policies and the enhancement of the country’s comprehensive national strength, the investment in science and technology in the whole society has increased rapidly, and the scale and intensity of R&D funds have achieved a historic breakthrough.

  Data from the National Bureau of Statistics show that in 2018, China’s R&D expenditure reached 1,967.79 billion yuan, 123 times that of 1991, from 1991— In 2018, the average annual growth rate was 19.5%, far exceeding the average annual growth rate of GDP at current prices in the same period.

  At the same time, the investment intensity of R&D funds has hit record highs, reaching 2% for the first time in 2013 and 2.19% in 2018, exceeding the average level of the 15 EU countries. According to the exchange rate, China has become the second largest R&D investment country in the world after the United States, providing a strong financial guarantee for the development of science and technology.

  China’s national financial expenditure on science and technology increased from 60 million yuan in 1953 to 951.82 billion yuan in 2018. 2005— In 2010, the national fiscal expenditure on science and technology grew fastest, with an average annual growth rate of more than 20%. In 2011, the growth rate began to decline, and in 2018, it increased by 13.5% over the previous year, setting a record high since 2013.

  "The national financial expenditure on science and technology has played a key role in driving the whole society’s R&D investment and leading the national strategic orientation, providing a strong guarantee for scientific and technological innovation." Zhu Yingchun pointed out.

  In Zhu Yingchun’s view, the investment in science and technology has increased rapidly, and the scale and intensity of R&D funds have achieved a historic breakthrough, which is in line with the Outline of the National Medium-and Long-term Science and Technology Development Plan (2006— The promulgation and implementation of "2020)", especially since the 18th National Congress of the Communist Party of China, various departments and localities have taken active measures, and the whole society has formed a consensus on attaching importance to and supporting innovation.

  From different regions, the performance of scientific and technological investment in some places is eye-catching. In 2017, the fiscal expenditure on science and technology in seven regions including Guangdong, Jiangsu and Shanghai exceeded 20 billion yuan. The local fiscal expenditure on science and technology in 11 provinces (cities) accounted for more than 2% of the local fiscal expenditure, and Guangdong, Shanghai and Beijing all exceeded 5%.

  It is worth mentioning that in 2018, the number of regions with R&D investment intensity greater than 2% increased to 11, among which the R&D investment intensity in Beijing reached a record high of 6.17%.

  Enterprises become the main force supporting the growth of R&D investment.

  Since the reform and opening up, China has actively guided other social capitals to increase their support for innovation through direct and indirect financial investment. Enterprise funds have gradually become an important source of funds for the whole society to invest in R&D funds.

  "In recent years, the source structure of R&D funds has been further optimized, and the dominant position of enterprise innovation has been further highlighted. The proportion of corporate funds in R&D funds increased from 60.1% in 2003 to 76.5% in 2017. " Zhu Yingchun believes that this is mainly due to the improvement and implementation of the R&D expenses plus deduction policy, the tax relief policy for high-tech enterprises and the accelerated depreciation policy for fixed assets, which greatly mobilized the enthusiasm of enterprises for R&D activities. As the main body of technological innovation, enterprises have become the main force supporting the growth of R&D investment in China in recent years.

  Enterprises are not only the main body of investment in R&D funds, but also the main body of implementation. From the perspective of expenditure structure, the proportion of R&D expenditure of Chinese enterprises in the total social R&D expenditure has increased from about 60.0% in 2000 to 77.4% in 2018.

  According to statistics, in 2017, the number of enterprises enjoying R&D expenses plus tax reduction and exemption for industries above designated size and tax reduction and exemption for high-tech enterprises reached 24,400 and 24,200 respectively, 3.3 times and 3.5 times that of 2009 respectively, and the amount of tax reduction and exemption reached 57 billion yuan and 106.2 billion yuan respectively, which played a positive role in encouraging and guiding enterprises to carry out R&D activities.

  In 2018, the basic research funds broke through the 100 billion yuan mark for the first time.

  Data from the Statistical Bulletin of National Science and Technology Investment in 2018 (hereinafter referred to as the Bulletin) show that in 2018, China invested a total of 1,967.79 billion yuan in R&D, an increase of 207.18 billion yuan or 11.8% over the previous year. Among them, the basic research funds exceeded 100 billion yuan for the first time, reaching 109.04 billion yuan, keeping pace with the investment in research and development.

  Li Yin, a statistician of the Department of Social Sciences and Literature of the National Bureau of Statistics, explained that the funds for basic research exceeded 100 billion yuan, and all three subjects achieved rapid growth. The funds for basic research in institutions of higher learning, government-owned research institutions and enterprises were 58.99 billion yuan, 42.31 billion yuan and 3.35 billion yuan respectively, up by 11.1%, 10.1% and 15.7% respectively over the previous year. Among them, colleges and universities contribute 51.1% to the growth of basic research funds in the whole society, and they are the main bodies to carry out basic research.

  According to Lv Wei, a researcher in the Innovation and Development Research Department of the State Council Development Research Center, the investment in basic research in China has been increasing continuously in recent years, which is not only related to the state’s attention, but also an inevitable requirement for the development of technological innovation capability to the stage of "three runs coexist". The report of the 19th National Congress of the Communist Party of China proposed that we should aim at the forefront of world science and technology, strengthen basic research, and achieve a major breakthrough in forward-looking basic research and leading original achievements.

  Over the past 70 years, China has made remarkable progress in science and technology investment. "However, it should still be noted that compared with the goal of deepening the supply-side structural reform and building a world science and technology power, the investment intensity of R&D funds in China needs to be rapidly improved." Zhu Yingchun pointed out.

  Judging from the cumulative investment, there is still a big gap between the total investment of R&D funds in China and the United States and Japan since 1991. Science and technology investment has a strong cyclical accumulation effect, and the appearance of scientific and technological innovation effect depends on long-term investment and continuous accumulation. When the innovation ability changes from "tracking, paralleling and leading" to "paralleling" and "leading", it still needs the support of a lot of scientific and technological investment to achieve key core technological breakthroughs.

  At the same time, problems such as unbalanced investment structure of R&D funds have yet to be solved. For example, the single source of funds for basic research. The proportion of basic research funds in China has been around 5% for a long time, which is lower than 15% in developed countries & mdash; The general level of 20%; Basic research is highly dependent on the central financial input, and local and enterprises have insufficient investment in basic research.

  In this regard, Zhu Yingchun suggested that in the future, we should speed up the construction of a diversified investment system, strengthen the comprehensive design of fiscal, taxation, financial and other policies, form an organic policy system, and further guide venture capital, charitable donations, and universities’ own funds to invest in R&D activities. (Reporter Tang Ting)