标签归档 武汉夜生活论坛

A few days ago, at the 9th China Entrepreneur Development Annual Conference, Cao Dewang, chairperson of Fuyao Glass Group, talked about the crisis of Hengda, saying that Xu Jiayin 3.90 billion of his own capital in total, and actually loans can reach two trillion.

When referring to Evergrande’s current problems, Cao Dewang pointed out that the main reason for Evergrande’s collapse may be problems with its own investment decisions. "When we were studying abroad, there may be some punctuation marks that we didn’t see, didn’t learn well, and didn’t express clearly enough, so this kind of thing happened."

Cao Dewang also said that for the development of a company, it must have its own bottom line. "Don’t be greedy, but take it step by step. If you want to dig other people’s hearts, you should worry about whether your heart will be dug away." The correct and reasonable approach is to take it step by step, accumulate slowly, create dividends or wait for the market to give dividends, rather than relying on speculation and blind gambling.

In the past, Evergrande’s ambition in the automotive industry was very large, and it even felt like a gamble. Regarding the six new energy vehicles released by Evergrande in one go, Cao Dewang commented: "This is done by rich people like Xu Jiayin. If it is completely subsidized, it will be waiting for death."

At the 12th Auto Blue Book Forum last year, Cao Dewang once proposed that entrepreneurs should have three major responsibilities. The country is strong because of you, the society is advanced because of you, and the people are prosperous because of you. This is what an entrepreneur needs to do. If you can’t do it, don’t think about making money. "I have money and I want to save society!"

"The most successful approach is to adhere to the ancestral motto of respecting heaven and loving others. This is what Mr. Wang Yangming said, that is, we must adhere to this principle." Cao Dewang said this is the basic principle he has adhered to throughout his years of entrepreneurship and development.

However, Xu Jiayin seems to have abandoned some basic principles in the development of Evergrande. At present, the entire Evergrande group is not developing well, but Xu Jiayin is indeed an economically minded businessperson. From the very beginning of the high-profile announcement of entering the automotive field, Xu Jiayin saw the opportunity of the new energy automobile industry and the potential huge golden mountain behind it, but he ignored the basic laws and laws of this industry.

In just two years, Evergrande has gone from "buying" a lot of auto parts suppliers to build its own cars, to threatening to become the world’s largest new energy vehicle group, to now planning to sell its electric vehicle stake. It has only been a year or so since the first release of six new models of Hengchi at the same time, and now it has failed in the car business.

This is indeed a bit ironic for Xu Jiayin, a very shrewd and successful business tycoon. The most obvious manifestation of this irony is the stock price.

Hong Kong shares of China Hengda fell to HK $1.60, continue to brush the historical low, the Hong Kong Stock Exchange shows that from December 6th to December 9th, Xu Jiayin continued to be forced to sell about 277.80 million shares of China Hengda. And Hengda Automobile recently the largest decline of more than 22%, other Hengda also continued to decline, Hengda property is down 13.21%, China Hengda fell 6.98%.

Freezing three feet is not a day’s cold. In the eyes of many industry insiders, the reason why Hengda Group and Hengda Automobile exploded and went to today’s situation is because the landmines have long been planted. Evergrande’s current crisis is most directly reflected in financial issues.

According to China Evergrande’s financial report, in 2020 Evergrande Group’s revenue 507.25 billion yuan, after-tax profit 31.40 billion yuan, down 6.4% year-on-year. In the first half of this year, the company’s revenue was 2226.9 billion yuan, down 16.48% year-on-year; after-tax profit 10.50 billion yuan, down 28.87% year-on-year. As of June this year, Evergrande’s total assets 2.38 trillion yuan, total liabilities reached 1.97 trillion yuan, and the debt ratio exceeded 80%.

Among them, Hengda Automobile, which has high hopes, posted a net loss of 7.74 billion yuan in 2020, an increase of 55% year-on-year, while the company’s loss expanded to 4.82 billion yuan in the first half of this year, nearly doubling. As of the first half of the year, Hengda Automobile’s cash and cash equivalents were about 9.577 billion yuan, restricted cash reached 2.936 billion yuan, total liabilities reached 153 billion yuan, and the debt ratio exceeded 90%.

Evergrande’s continued losses have become a hot potato for the group; and Evergrande’s current high debt has seriously hindered Evergrande’s investment in new cars. The two continue to fall into a vicious circle, and the root cause is the lack of money. Ironically, Evergrande is currently struggling due to the break of the capital chain, but thinking back then, not short of money is precisely the embodiment of the greatest advantage of this new car-making force that is generally regarded by the outside world.

1905 movie network news The movie starring the screenwriter, director,,, and lead is currently being screened. At present, the cumulative box office is nearly 100 million yuan, and it has won the box office crown for 4 consecutive days, earning a word-of-mouth score of 9.4 points. Since the release of the movie, the emotion of Lao Luo and Chi Rabbit accompanying each other and paying tribute to the golden age of Hong Kong action movies have been loved by many people.

After 60 years in the industry, Jackie Chan has left behind countless classic movies, accompanying generation after generation to grow up, and director Yang Zi, as a fan, has also integrated these works into the movie,… These small thoughts have also been discovered by the big brother’s fans, and finding Easter eggs has become a unique pleasure for everyone when watching movies. "From watching big brother’s movies in primary school to becoming a social animal, I like the footage of past works interspersed in the film, which makes people reminisce about the time when they held the disc and didn’t let go."

Jackie Chan’s 60-year film life is a microcosm, with tribute details everywhere

Audience: A movie ticket takes youth back to the past

After watching the movie, many viewers were killed by the easter eggs buried by director Yang Zi. "A movie ticket brings youth to wander back to the past, and every picture has endless memories." At the beginning of the movie, Lao Luo saw a figure hanging a doll in the shape of a clock, which is exactly the same; the shape of an Indian who takes pictures on the street with Red Rabbit to make a living is from; the shape of wearing a leather jacket and goggles is the same; the shape of wearing a blue leather jacket on the set is the same; the action design of turning a hat in front of Xiao Bao is from "Miracle"; when avoiding debt collection, the shot of jumping from the second floor to the first floor awning and then falling to the ground replicates the scene; the group of singing children he encountered during the escape is a tribute…

According to audience statistics, the film paid tribute to at least 20 works of Jackie Chan’s eldest brother, and his feelings were overflowing, "not only about Lao Luo, but also about Jackie Chan’s 60-year film life. When those clips that worked hard with his blood, sweat and tears were displayed in the movie, I was really touched."

Tribute clip Watching crying action movie fans "choked up and cried several times"

Audience: Time does not take away one’s strength and love.

In the movie, Xiaobao saw the dangerous actions that Lao Luo did when he was young on the USB flash drive, and he shed tears because of his pain. This scene also made many viewers in front of the screen red, "These scenes are all clips of Jackie Chan’s past and beat-the-scene. As an action movie fan, I choked up and cried several times."In the movie, Lao Luo, even though the action scenes are difficult, difficult, and dangerous, his pursuit of ideals and beliefs has never given up.

Jackie Chan is the same, even though his hands and feet are broken and scarred, in the face of dangerous actions that risk his life, he still insists on shooting, jumping from heights again and again. Because of this, many fans call this film "Big Brother’s semi-autobiographical film". Seeing that Big Brother is still on the set at the age of 69, he can’t help but sigh, "From the beginning of the double group performance to today’s international superstar, time cannot take away a person’s strength and love."

Xiao Ai, Tmall Genie, 9420, are you familiar with these summoning names? Smart speakers have become popular in recent years and have begun to enter thousands of households. This kind of speaker that allows users to control with voice commands is sometimes very convenient. Users only need to make a voice call to let them play songs, control smart appliances, have conversations, and ask questions.

There are many ordinary smart speakers, so let’s take a look at a smart speaker with a screen. Let’s take a look at the advantages of a smart speaker with a screen compared to a smart speaker without a screen. This time we want to invite the "Xiaodu Home" smart video speaker jointly produced by Baidu and Xiaoyu Home.

Figure 1 Xiaodu smart speaker at home

Xiaodu has a 10W high fidelity sound unit and a 6-microphone array omnidirectional high fidelity audio capture at home. Compared with other smart speakers, Xiaodu’s biggest feature at home is a 7-inch touch screen and a 500W pixel camera.

Xiaodu’s main operation experience at home, in addition to being able to touch

When you get Xiaodu at home, turn it on for the first time, just like other Internet speakers, you need to perform networking operations first. Xiaodu can directly use the touch screen for Wifi networking operations at home. After networking, it provides the associated QR code for the user’s mobile APP Xiaodu to bind at home. After that, you can also associate the user’s Baidu account.

The summoning word of the Xiaodu speaker is "Xiaodu Xiaodu". Users can switch it to "small fish" in the settings of Xiaodu at home, but they still cannot customize other summoning words. Many operations can be carried out by voice. In addition to using voice to control, the touchscreen is also a convenient way for users to control. The clarity of this touchscreen is still good.

The upper right corner of the screen displays the time and weather forecast and air quality, the upper left corner has three shortcut buttons (skills, content square, dial), and the lower left corner is the shortcut button to summon Xiaodu’s automatic speech recognition at home. After pressing it, the user does not need to say the "Xiaodu Xiaodu" summon word in advance, just say the command. In the default settings, Xiaodu will automatically perform four-screen switching (time weather, shortcut call, skill prompt, content recommendation) when in standby at home.

The drop-down screen can activate the shortcut menu, where you can quickly switch on and off some functions, or adjust the volume to quickly turn off the music.

The screen wallpaper can be customized, and there is a carousel function, which means that users can also use Xiaodu at home as an electronic album. Users can upload photos to Baidu at home albums in the Xiaodu at home APP and let them be automatically displayed on the screen. In addition, it also supports the function of directly opening Baidu network disk to view pictures.

Figure 2 Xiaodu’s standby screen at home (please forgive the lack of low-level photography technology and photography equipment, the same as below) Xiaodu’s screen display effect at home is still good.

Figure 3 Drop-down menu

Xiaodu also has a theme mode at home, and currently users can use the themes of "Fresh Time, Night Reading Time, Leisure Time, Holiday Beach". "Xiaodu Xiaodu, turn on Night Reading Time". After receiving the command, Xiaodu switches to this theme mode at home to display relevant animations and background music.

Picture 4 Night reading time

2 Q & A videos without pressure

100,000 why, Xiaodu can answer a lot of questions at home

Xiaodu has an advantage resource at home, that is, having Baidu’s encyclopedia resources, users can use it to quickly query encyclopedia knowledge. It is very suitable for children to ask 100,000 why.

Xiaodu Xiaodu, a photo of an elephant. Xiaodu operates at home: the screen displays a photo of an elephant.

Xiaodu Xiaodu, how to write the word "Zhang". Xiaodu operates at home: the screen displays the word Zhang, and the stroke order animation is displayed.

Xiaodu Xiaodu, why does the sun shine? Xiaodu operates at home: the screen displays relevant knowledge content and reads aloud.

Xiaodu Xiaodu, who is Jacky Cheung? Xiaodu operates at home: The screen displays the Jacky Cheung introduction video in the second understanding encyclopedia. After the video ends, the relevant information of Jacky Cheung is displayed.

Xiaodu Xiaodu, describe the solar system. Xiaodu operates at home: The screen displays relevant knowledge content and reads aloud.

Figure 5 shows the elephant photo

Figure 6 shows the stroke order animation

Xiaodu can speak and sing at home, and the lyrics are displayed synchronously. It’s really good

As a smart speaker, Xiaodu’s rap function at home is really not bad. After upgrading Xiaodu’s system at home to the latest version, you can link the QQ music account, so that the resources that can listen to songs become massive. As for video resources, Xiaodu calls iQIYI video and Haokan Video at home, among which iQIYI video can log in to the account, and iQIYI VIP users can skip advertisements. And the book review resources use resources from Himalayas, Dragonfly FM, and Koala FM.

In addition to telling Xiaodu what to watch and listen to at home, users can also enter Xiaodu’s content square at home to conduct content on demand. The content square contains content such as film and television, short videos, news, radio, music, children, games, and audio.

Figure 7: Content Square

For music content, after binding QQ Music, you can basically hear all the songs you want to listen to, and Xiaodu has a good function at home, which is to display the lyrics synchronously when playing songs.

Figure 8 can display lyrics synchronously

Xiaodu is very convenient to watch videos at home, and there is also live TV.

Compared to the smart speaker without a screen, Xiaodu can not only get resources to listen to at home, but also get resources to watch. Users can use Xiaodu to watch the resources in the iQIYI video at home, and when they are bored, they can let Xiaodu play funny videos at home. If you can play audio & video, that would be great.

When playing video content, the user can use the player control button to quickly switch the previous and next video, pause the video and collect the video, and voice command to fast forward and rewind for how many minutes. Support the user’s familiar left swipe setting brightness and right swipe setting volume function.

Figure 9 Playing video content

Figure 10: Broadcasting a radio drama

For video content, users can use small degree at home will be projected to the TV, small degree at home currently supports DLNA function, can be projected to iQIYI TV fruit under the same network, but also supports most smart TV DLNA projection function.

In addition to these, Xiaodu also supports live TV at home, allowing users to watch TV. Xiaodu also has online radio at home, making it convenient for users to listen to radio stations.

Figure 11 Live TV function

3 Video conversations for all ages

Convenient for the elderly and children, video dialogue function

There is a prominent dial button in the upper left corner of Xiaodu’s standby screen at home. After clicking, you can enter the dial interface and directly video call the set contact. If the other party Xiaodu’s home APP is online, you can have a video conversation after connecting. This function is a very good function for children or the elderly at home. Two Xiaodu can also video call between homes.

Figure 12 Video conversation

In addition, Xiaodu also supports direct calling at home, but this function is not free and requires users to recharge before using it.

Figure 13 Normal dial

With this camera, users can also view the content in front of the camera with their mobile phone in real time. Users only need to enter the home interaction of the Xiaodu Home APP to view the camera content in real time. When the user views, a reminder will pop up in Xiaodu’s home and play a prompt tone to remind the user that someone is viewing the camera. Users can also manually turn off the camera at Xiaodu’s home.

Figure 14 View the camera content in the Xiaodu Home APP

Figure 15 Small degree reminder at home

Xiaodu’s camera at home can also help users take pictures quickly. Users only need to use the voice command "Xiaodu Xiaodu takes pictures", and Xiaodu will take pictures after counting down 3 seconds at home.

In addition, Xiaodu also has a smart capture function at home, which can help users capture exciting content. Users can choose whether to turn on this function.

Figure 16 Intelligent capture function

Xiaodu can teach early at home, and the educational function is quite rich

For early childhood education, Xiaodu has prepared resources such as Baby Bus, Children’s Songs, Little Banlong School, Baby Know, Little Prince Storybook, and Addition and Multiplication for users at home.

Figure 17 Xiaobanlong School

For learning tools, Xiaodu has prepared functions such as Chinese-English translation, concise Japanese, Lele Academy, search banner dialogue to learn spoken language, search banner to learn words, learn ancient poems, and write stories together at home.

Figure 18 Chinese to English translation

Figure 19 Sentence translation function

Users can also directly let Xiaodu perform calculations. In addition to providing answers at home, Xiaodu also displays a calculator for users to perform quick calculations.

Figure 20 Calculation

Xiaodu at home, child protection function

In order to prevent children from using it for too long and being exposed to bad content, Xiaodu Home has prepared a child protection function for users. Users can enable this function in the Xiaodu Home APP. After opening, Xiaodu Online can display only the content of resources suitable for children, distance protection (to prevent children from being too close to the screen), and set usage time limits and search restrictions.

Figure 21 Child protection content

Xiaodu is at home, with built-in mini-games

Xiaodu has several built-in mini-games at home, such as backgammon, vocabulary paradise, guessing musical instruments, guessing animals, you sing and I guess, animal riddles, etc. However, you cannot install special games and other applications by yourself.

Figure 22 Built-in mini-game

Xiaodu’s resources at home are not all free, and some content needs to be paid for, such as Uncle Kai telling stories, looking at pictures to guess idioms, etc. The paid operation is also very simple, just scan the QR code, and support WeChat, Alipay, Baidu wallet payment.

Figure 23 Paid content

4 Training interaction is valuable

Train to make Xiaodu smarter at home

In the Xiaodu Secret Language of Xiaodu Home APP, users can add automatic speech recognition content for Xiaodu Home, and can also customize voice questions and answers. A special function of Xiaodu Home is that users can customize multiple questions to correspond to the same operation, and the corresponding operations can be broadcast, recording and instructions.

Figure 24 Small degree secret language

　　Figure 25 Operation after identification

Remote assistance, you can also control Xiaodu at home from a distance

Xiaodu also has a special skill at home, remote assistance. Users can use the Xiaodu at home APP to remotely control Xiaodu at home. This can help remotely restore when children or the elderly mess up the settings and don’t know how to restore them. Or if you want to see what the child is watching, you can also view it remotely. This is a great function. When entering and exiting the remote assistance, Xiaodu will have a voice prompt at home. It’s just that the image quality of this remote operation interface is a bit low. It is recommended that users can set the image quality according to their own network speed.

Figure 26 Xiaodu remote assistance at home

Family interaction, viewing photos is simple

In the home interactive channel of the Xiaodu Home APP, users can not only view the Xiaodu Home camera function in real time, but also view the smart capture content and the photo album content of Xiaodu at home.

Figure 27 Family interaction

Xiaodu is at home, what can it understand?

The most commonly used way to control AI speakers is to use voice commands, so can Xiaodu understand the user’s commands to perform operations at home? This is a test for Xiaodu at home. The test is affected by the environment and language, and the test results are for reference only and do not represent the final results in the testing environment.

Voice command: "XX share price"

Xiaodu operates at home: the screen displays XX stock price, telling the stock price + rise and fall + total market value.

Voice command: "Express inquiry".

Xiaodu operates at home: Open the courier inquiry, and the user can say the courier number for inquiry.

Voice command: "Good morning"

Xiaodu operates at home: broadcast the date, broadcast a quip, weather forecast, temperature, air quality, and play cheerful music.

Voice command: "What do cats (animals) call"

Xiaodu operates at home: play the dog’s barking + display the corresponding animal photo.

Voice command: "Music"

Xiaodu operates at home: play random music + display lyrics on the screen.

Voice command: "Play Jacky Cheung’s song"

Xiaodu at home operation: play Jacky Cheung’s song + broadcast song title singer + screen display lyrics.

Voice command: "Guzheng Music"

Xiaodu operates at home: play the ancient song

Voice command: "Play Leaving Sorrow"

Xiaodu operates at home: play Leren Sorrow + broadcast song title singer + screen display lyrics.

Voice command: "Change singer"

Xiaodu at home operation: changed a singer to play the sadness.

Voice command: "Do you want to eat?"

Xiaodu operates at home: Compared with eating, these divine songs fascinate me more. Quickly tell me Douyin Divine Comedy.

Voice command: "I’m hungry"

Xiaodu operates at home: Don’t go hungry, go and eat something.

Voice command: "What day is the lunar calendar today?"

Xiaodu operates at home: play the lunar date, and recommend hot spots.

Voice command: "Set the alarm at 18 o’clock"

Xiaodu operates at home: Set an alarm clock.

Voice command: "Set 1 minute countdown"

Xiaodu operates at home: the 1-minute timer starts, and the screen shows the countdown. The last 10 seconds are cool, and the music reminder is completed in time.

Voice command: "Turn off the screen"

Xiaodu at home operation: turn off the screen display.

Xiaodu is at home, some other functions

Xiaodu has Bluetooth function at home. When using Bluetooth to play songs, you can also use voice commands to perform previous and next operations.

After turning on the geek mode, you can start the continuous conversation function without having to start every command in small steps.

Xiaodu supports smart device control at home, and currently supports voice control functions of multiple smart devices.

Xiaodu is at home, some shortcomings and some suggestions from the editor

Let’s talk about the shortcomings of Xiaodu at home.

First: the accuracy rate of automatic speech recognition is far better than that of Tmall Genie. A special case is that after standing by for a long time or performing multiple operations, there will be either recognition errors or no response. These phenomena will be fine after shutdown and restart. The editor estimates that it is caused by insufficient memory. I hope the official will add the automatic memory cleaning function. The editor uses standard Mandarin.

Second: the Bluetooth playback mode of Xiaodu at home, connecting the mobile phone music to Xiaodu at home, I don’t know why it will be one card and one card (I don’t know if it is a separate phenomenon).

Third: Xiaodu doesn’t have a battery at home, so he has to drag a live tail behind him. When using it for children, you need to pay attention to safety.

Fourth: It is recommended that the indicator light turn on when the camera is working, rather than the current disabled camera.

Fifth: You can make a cool desktop with an animated version of the weather forecast, plus a temperature and humidity display.

summary

With a touch screen, Xiaodu’s smart speaker at home is indeed much more convenient, and it is really good to use the display screen to display more content on many content, especially encyclopedic content. Watchers with children at home can buy and play, use it to listen to stories and learn knowledge. It is a good tool.

Is there no electricity when the electric car is hot?

Text/gale

Editor/Chen Momo

Over the years, China has led the world in the production and purchase of electric vehicles. These cars are the result of a lot of subsidies, although there are also some cases of poor quality. In this market, there are a lot of running brands. These companies lack a strong sales network, but they have their own inherent advantages, such as the best battery supply or more advanced software than their competitors.

In the overwhelming situation of new energy, many automobile manufacturers are exceeding their production targets and trying to achieve "harvest" with this trend. On December 13th, 2022, Geely Automobile officially announced to the public that its high-end electric vehicle sub-brand Kykrypton had submitted its IPO registration documents to the US Securities and Exchange Commission on December 7th, 2022, and planned to be listed in new york as early as the second quarter of 2023. It is rumored that krypton is valued at around $10 billion. This indicates that this new car company, which was established less than two years ago and hatched by traditional car companies, has begun to break through the IPO of US stocks.

　

　

There are several basic elements to highlight the tight encirclement. First of all, the new forces must find a niche market that can be used as a starting point for expansion. Then, it is necessary to have the ability to mass-produce cars and break through the bottleneck of production capacity. Finally, it is necessary to create a relatively mature sales and distribution network. It is more important to choose the right market segment, provide something really different and put your own technical mark on it.

Obviously, krypton still has a big gap in these aspects.

1 sales scenery can not hide financial weakness

2022 is a successful year for krypton cars. With only one model of Kykrypton 001, Kykrypton delivered a total of 71,941 vehicles throughout the year, with an average order amount exceeding 336,000 yuan. In December, Kykrypton continued to win the title of "sales champion of pure electric vehicles of China brand with more than 300,000".

In 2023, Extreme Krypton will not only launch its second model, Extreme Krypton 009, but also replace the Kirin battery. The 2023 Extreme Krypton 001 with a battery life of more than 1,000 kilometers will also be put on the market. In terms of overseas market layout, on the one hand, it began to sell cars designed by Mobileye and equipped with NZP high-speed autonomous navigation assistance system in Europe; on the other hand, the unmanned application scenario developed based on ZEEKR M-Vision concept car is the exclusive travel service products created by Waymone driverless team, which will also begin to gradually land. The quality of the car will be further recognized by overseas customers.

Compared with other new forces, there is not much financing before the IPO. Its latest round of financing was the $500 million Pre-A round of financing completed in August 2021. At that time, the valuation of Krypton cars reached $9 billion. Therefore, after the substantial increase in sales in 2022, the valuation of Krypton did not increase significantly, which shows that under the influence of the potential global financial crisis, the US stock market with abundant funds is not optimistic.

As the first batch of new forces in China, Wei Xiaoli also chose American stocks as the main battlefield of her IPO before making a profit. From the establishment of the company to the IPO, the three companies took four years, six years and five years respectively. In contrast, it has only been two years since its establishment. Judging from the valuation, although Krypton’s performance is much better than that of Wei Xiaoli at that time, and there is strong support from traditional car giants like Geely, there is still a clear gap in market value. The current valuation of Krypton is only $10 billion, which is about 70 billion yuan. At that time, Weilai’s valuation reached 134 billion, and the ideal valuation was 156.7 billion yuan. However, compared with the valuation of zero-running cars listed in Hong Kong stocks last year, Krypton is still much higher.

It turns out that it is difficult to make a profit by mass-producing electric vehicles. In terms of sales volume and company revenue, there is still a certain gap between Krypton and Wei Xiaoli. In 2022, Xpeng Motors, which has the lowest sales volume among Wei Xiaoli, has delivered more than 120,000 vehicles, and the vehicle matrix of the three car companies of Wei Xiaoli has been relatively complete. Therefore, in terms of revenue, in the first half of 2022, Wei Xiaoli’s revenue reached 20.2 billion, 14.8 billion and 18.2 billion respectively, while the extremely poor revenue in the same period was only 8.8 billion. As for the level of gross profit margin, in the first half of 2022, Krypton took two years to turn the gross profit margin into a positive one and reached about 5%, which was much better than that of Wei Xiaoli in the same period, but the current situation is that Wei Xiaoli’s gross profit margin has reached 13.8%, 11.55% and 22.09% respectively.

In terms of losses, in 2021 and the first half of 2022, the polar net losses reached 1.01 billion yuan and 759 million yuan respectively. In just one and a half years, Krypton has lost as much as 1.769 billion yuan. For a brand-new car company that has just been established, if it is not supported by Geely Automobile through its system capabilities, the loss will probably be even greater. But even so, whether it is the development and production of new models, brand promotion and sales channel construction, it needs to invest a lot of money, and these funds have begun to put obvious pressure on Geely Automobile listed in Hong Kong stocks. In the first half of 2021-2022, the net profit of Geely Automobile was 4.847 billion yuan and 1.552 billion yuan respectively, and the year-on-year decline rate of net profit reached 12.4% and 34.81% respectively. Such a sharp decline is not only related to Geely’s own performance, but also to the large amount of investment required for extremely krypton cars.

　

2 advantages and disadvantages of listing US stocks

Obviously, under the circumstances that the valuation is not high due to the poor environment, it is closely related to the situation of Krypton itself that it still seeks to be listed in the US stock market.

Before Krypton, the impact on science and technology innovation board’s listing was unsuccessful. At the earliest, Geely Automobile hoped to return to science and technology innovation board to raise enough funds for itself, but later science and technology innovation board did not open the door for Geely. Then Geely Automobile gave Krypton the quota to hit science and technology innovation board, but from the current situation, Krypton’s scientific and technological attributes have not been recognized by the regulatory authorities. As an industry with heavy capital and assets, the future sustainable development of Krypton still needs to continuously inject a large amount of funds, which may not be completed by Geely Automobile alone. By listing in US stocks with relatively higher valuation and better liquidity, you can naturally get greater returns than listing in Hong Kong stocks.

However, the potential political risks faced by going to the United States for listing are also factors that have to be considered. On the one hand, vehicle companies like Krypton need to deal with a lot of personal information, and if it involves autonomous driving, it will produce more surveying and mapping data. At this time, it is necessary to find a method acceptable to both regulators under the two major judicial systems of China and the United States. On the other hand, global competition between China and the United States is inevitable. No one can guarantee whether the United States will exert the same extreme pressure on enterprises like Krypton as it did on Huawei in the past. In this case, let alone state-owned enterprises listed in the US stock market have chosen to review the listing of Hong Kong stocks/China mainland’s own securities market, and reserve a financing channel for themselves. Even private car companies like Wei Xiaoli have already completed the secondary listing in Hong Kong stocks. Therefore, listing in the US stock market is definitely not the end of extreme krypton. Finding more stable financing channels for yourself may be the strategy that needs to be considered in the next step.

In the past two years, many companies under Geely Group have completed listing. From Volvo cars and polar star cars to Yikatong and Krypton, there may be Lotus cars, Cao Cao trips and long-distance cars soon. Promoting the listing of its enterprises is a shortcut to reduce its capital contribution burden. However, in the current environment, both valuation and potential political risks need to be weighed by Geely Group. The road ahead is not easy. Especially for krypton cars, after most car companies in the world have made clear the development direction of pure electric, the competition facing krypton will become more and more fierce. If there is no solid sales as a support, even if Krypton has completed the listing of US stocks, its prospects will be bleak.

3 alleged quality problems and sales fraud are frequently defended by car owners.

At present, there are only two models on sale, namely "Extreme Krypton 001" and "Extreme Krypton 009", in which the former is the main sales model and has both coupe and SUV attributes; The latter is positioned in pure electric luxury MPV.

According to a number of media reports, there are online videos showing that four "extremely krypton 001" cars with the words "power failure, electric door failure" passed directly from the door of extremely krypton store.

Since January, 2023, on the official app of Krypton and the national complaint platform for defective products, a large number of Krypton owners have reported that there is a power system failure in Krypton 001 (configuration | inquiry). The vehicle will suddenly jump out of the dashboard when the cold car is started and driving, and the power is limited, so it can’t drive, and the esc is abnormal. And complaints about the unilateral tampering with the contents of the car purchase agreement by extreme manufacturers. The number of complaints about krypton brands has increased significantly, with 639 complaints involving krypton 001, ranking first among all brands.

Coincidentally, "Extreme Krypton 009" also has problems. According to the black cat complaint platform, "Extreme Krypton 009 is forced to lock the order and is not transferable. However, according to the agreement, it is transferable. Now it is against the agreement to tell that it is not transferable. It is a overlord clause to force the lock order without any real car.

In addition, according to the news a few days ago, a picture of a car blogger broke the news, showing that many car owners were sitting at the door of the extreme experience store to defend their rights. These car owners said: "Extreme sales routines defraud consumers and demand a refund!" . At present, more than 2,000 big car owners have complained together, and their demands are still increasing: unilateral breach of contract, unilateral tampering with the contract without consulting the car owners, loss of confidence in the car companies, and demand a refund for one.

In this regard, there is no relevant response from the extreme.

On the car quality website of the car complaint platform, there have been a lot of complaints about Krypton 001 recently, and almost all the reasons for the complaints are "Krypton manufacturers unilaterally tampering with the contents of the car purchase agreement". According to the owner of the complaint, in order to dispel consumers’ doubts about buying the first new energy vehicle, the first new energy vehicle has been introduced to enjoy the lifetime warranty of the whole vehicle and the preferential policy of the current order price, and the owner is not restricted from modifying the order. The premise is that under the negotiation of both parties, users can change the vehicle configuration plan before locking the order. Until December 2022, the official is still promoting that all models can enjoy a lifetime warranty.