分类： hanzhen

(Guanwang Finance Wang Muju) As an A-share listed company, Leo (002131.SZ) invested 50 million US dollars (about 320 million yuan) in Space X owned by Musk, but it was unexpectedly returned. Not only did the "dream of heaven" fail to come true, but the performance of Leo shares itself could not satisfy the shareholders: the net loss in the first three quarters was 88.5706 million yuan.

After the "embarrassing thing" that the investment was returned, Leo shares once fell to the limit on November 25. At the close, Leo shares fell 10.11% to 2.49 yuan, sealing the daily limit. This series of operations of investing in Space X not only made Leo shares receive a letter of concern from the Shenzhen Stock Exchange, but also made investors’ doubts increasingly boiling.

Screenshot of social media

After the market opened today, as of 9: 40: 18, Leo shares reported 2.44 yuan per share, which continued to fall.

A-share companies invest in Musk to build rockets, and American companies refund their faces.

According to public information, the original business of Leo shares is traditional manufacturing, covering a relatively complete industrial chain in the whole pump industry. In 2007, it was listed on the SME board of Shenzhen Stock Exchange. In 2014, Leo entered the field of digital marketing business through the acquisition of companies such as Manku Advertising, and gradually developed it into one of its main businesses.

On the morning of 25th, Leo announced that its wholly-owned subsidiary Leo Investment, as a limited partner (LP), and the investment partnership Tomales Bay Capital Anduril III, L.P. (TBCALP, located in the United States) had its capital contribution of USD 50 million returned. The reason is that TBCA GP, the general partner of the partnership, said that he could not accept Leo Investment’s continued holding of LP shares, and planned to refund the contribution of Leo Investment.

Announcement screenshot

Comprehensive public information, the whole thing is like this:

On 15th of this month, Leo signed an agreement with TBCA LP through its wholly-owned subsidiary "Leo Investment". Leo invested US$ 50 million to invest in the project with TBCA LP. The target is Space X, a well-known company engaged in rocket launch and satellite communication ("Star Chain"), and its founder is Musk.

The next day (16th), Leo Investment set aside the cash.

On November 18, Shenzhen Stock Exchange issued a letter of concern, requesting Leo to disclose the details of TBCA before November 22, including but not limited to the fund size, organizational form, capital contribution method, capital contribution progress, duration, exit mechanism, etc., and explain the specific arrangements and progress of investing in Space X.

Letter of Concern from Shenzhen Stock Exchange (partial)

However, during this time window, the secondary market has already reacted violently. On November 17th and 18th, Leo shares went up for two consecutive days, and on the 19th, its share price once reached a short-term high of 3.08 yuan per share. However, Leo shares soon announced that the other side of the ocean changed its mind: TBCA’s general partner (TBCA GP) said that they could not accept Leo’s investment to continue to hold LP shares, and planned to return the capital contribution.

Open your eyes:

The general partner (GP) has the right to manage the partnership and acts on behalf of the partnership. Limited partners (LP) contribute, while GP contributes. Everyone enjoys the investment income together. The identity of Leo shares in the cooperation is LP. To put it simply, Leo shares gave money, but TBCA GP replied: I won’t do this job, you can take the money back.

Leo shares immediately expressed opposition. On the 24th, the money was returned by TBCA.

According to the announcement, Leo shares believe that there is no legal basis for TBCA to terminate the agreement, and it will not accept the return of investment funds and the recovery of LP shares held by Leo Investment. The Company reserves all rights to safeguard the interests of the Company, including but not limited to initiating judicial proceedings.

On the 25th, Leo shares once fell, and finally closed down 10.11% to 2.49 yuan, sealing the daily limit.

Wind screenshot, the same below.

In Leo stock bar, many angry netizens gathered together and questioned its "advertising", "cheating money" and "fooling people".

Hot concepts are all in one, which was named by Shenzhen Stock Exchange twice this year.

The performance data shows that Leo shares achieved revenue of 14.4 billion yuan in the first three quarters of this year, a year-on-year increase of 35.61%; But the loss is also obvious. According to Time Finance, Leo shareholders explained that "the third quarter was mainly due to too much investment losses, which led to a decline in net profit." The person also stressed that "investment can now be regarded as our third main business."

In addition to making rockets, chips, new energy, meta-universe and other popular tracks, Leo shares are involved.

According to public information, Fujian Pingtan Liheng Investment Co., Ltd., a subsidiary of Leo Co., Ltd., signed an agreement with Shanghai Lakeside International Equity Investment Management Co., Ltd., with a capital contribution of 26.5 million yuan (accounting for 999.9623%) to set up a company, and plans to invest in a single equity project in the field of chip design and production. The target is Xima United Measurement and Control (Quanzhou) Technology Co., Ltd.

In 2016, Leo invested in Beijing Chehejia (predecessor of LI), holding 11.75% of its shares, and laid out the field of intelligent electric vehicles. LI’s subsequent popularity made Leo shares almost "famous overnight". In 2021, Leo was listed and traded in science and technology innovation board through the new scenery (688663.SH) invested by its "Pingtan Liheng" company, and laid out the high-power power electronic energy-saving control technology and its product track.

As of June 30 this year, the ending balance of other non-current financial assets of Leo shares was 7.704 billion yuan.

When the market is hot, Leo shares will almost lay out what they want, and the hand speed is fast: during the epidemic, Leo shares laid out the mask field, and it took less than half a month from preparing to set up a medical device company to formally putting the production line into production.

Because of a series of cross-border investments that can’t be played by gossip, in the eyes of many people, Leo shares have become a "hot spot professional household".

In July this year, the company said it planned to invest 100 million yuan to participate in a power battery investment fund; In the same month, the company also announced that it would spend 2 billion yuan on securities investment. This year’s hot meta-universe, Leo shares also participated in it: On November 16th, Leo shares replied to investors on the interactive platform that as early as 2020, the company began to try to apply AI artificial intelligence and AR augmented reality technology to e-commerce live broadcast, and realize the scene application of virtual anchors in multiple dimensions, including self-built virtual anchors for cultivation and marketing, and creating its own AI spokesperson. At the same time, it has also been promoting innovative marketing activities such as the endorsement of virtual idol IP, laying a solid foundation for the real arrival of the meta-universe.

Screenshot of China Economic Net page

Earned enough attention, but Leo shares have not been paid attention to by Shenzhen Stock Exchange for the first time this year.

Not long ago, on September 15th, Leo Co., Ltd. just sent a reply to the "Inquiry Letter on the Semi-annual Report of Leo Group Co., Ltd. in 2021" issued by Shenzhen Stock Exchange (Inquiry Letter [2021] No.9 of the Company Department for Semi-annual Report), explaining that its wholly-owned subsidiary Jiangsu Wansheng Advertising Media Co., Ltd. (hereinafter referred to as Wansheng Advertising) has made full provision for bad debts of its customers and there are a series of problems in the annual industrial and commercial inspection.

It is worth adding that in addition to investment, the digital marketing business of Leo shares also attracts the attention of the outside world:

In the investor relations activity on May 14th this year, some investors asked: In 2020, the company’s advertising business in ByteDance (huge engine) exceeded 7 billion yuan, up 17% year-on-year. Is there any profit output for a company with a dividend of 700 million yuan?

In response, Leo shares responded: "There is no such thing as what you said."

In August this year, Leo announced that Evergrande Real Estate had failed to pay the advertising fee as agreed in the contract and failed to pay the commercial tickets that had expired, and its subsidiaries took Evergrande Real Estate to court, applying for a total preservation amount of 356 million yuan. Leo shares may have been in the hot spot.

This article is an exclusive manuscript of Observer. It cannot be reproduced without authorization.

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eπ008采用了时尚动感的外观设计，前脸部分采用大胆的进气格栅设计，呈现出充满力量感和现代感的视觉效果。整个车身线条流畅，整体风格充满未来感，展现了汽车工业的最新潮流。

eπ008拥有长5002mm、宽1972mm、高1732mm的车身尺寸，轴距达到3025mm，前后轮距均为1650mm，提供宽敞的车内空间。车身侧面线条流畅，搭配265/45 R21规格的轮胎，以及造型独特的轮圈，使整体外观更加动感且富有科技感。

eπ008的内饰采用了现代简约的设计风格，整体布局简洁明了。方向盘采用皮质包裹，手感舒适且具备手动上下和前后调节功能，让驾驶者可以根据自己的需求进行调整。中控台配备了一块15.6英寸的高清触控屏，集成了多媒体系统、导航、电话和空调等控制功能，并支持语音识别控制，操作便捷。前排座椅采用仿皮材质，具备加热、通风和电动调节功能，主驾驶座椅还配备有头枕扬声器，提升了驾乘体验。此外，前排和后排均设有USB和Type-C接口，并且前排还配备了无线充电功能，为乘客提供了便利的充电选择。第二排座椅支持前后、靠背和腿托调节，后排座椅可以按比例放倒，为乘客提供了灵活多变的空间布局。

eπ008搭载的电动机最大功率为200kW，峰值扭矩达到340N·m，为驾驶者提供了强劲的动力输出。

汽车之家车主对eπ008的评价是：“外形很大气！前脸很帅！颜值高！开出去回头率很高！车标也简洁！”这样的外观设计确实让人印象深刻，不仅提升了驾驶者的自信心，也让每一次出行都成为一场视觉盛宴。

　　On November 21, 2013, the 10-day 11th Guangzhou International Auto Show opened a dazzling and colorful curtain in a warm atmosphere. The theme of this auto show is "Leading the Direction, Navigating the Future". Famous automakers from all over the world have taken this opportunity to launch their new products to show consumers their technological strength in automobile manufacturing. Among them, Nanjing IVECO, a well-known domestic commercial vehicle manufacturer, launched two new products, IVECO "Power daily2014" and Leapfrog "Shangjun X300". Its outstanding quality and high cost performance have been well received by industry experts and new and old users, making it a highlight in the commercial vehicle camp. The leaders of SAIC Motor Group, Italy’s IVECO and Nanjing IVECO Automobile Co., Ltd. attended the listing conference and announced the price. The price of IVECO "Power daily2014" starts at 175,900 yuan, and the price of Yuejin "Shangjun X300" starts at 66,600 yuan.

　　Product in the heart, quality in action

　　"Power daily2014" opens a new era of high-end business travel

　　In recent years, with the rapid development of the domestic economy and the acceleration of the urbanization process, the light passenger market has developed rapidly, especially the public and business reception vehicles have become the "upstart" in the light passenger car market due to their luxurious and comfortable configuration and relatively stable target audience. It is a must for mainstream commercial vehicle manufacturers.

　　

　　As the largest joint venture between China and Italy, Nanjing IVECO has more than 20 years of rich experience in the manufacture of light passenger products, and has the most representative practice accumulation in the domestic European light passenger market. Especially in recent years, through a series of reforms, development and innovation, it has continuously broken through and innovated in the upgrading and remanufacturing of products, so that the concept of "scientific and technological innovation" in the "combination of technology introduction and independent innovation" joint venture cooperation model can be perfectly reflected.

　　The IVECO high-end light passenger PowerDaily2014 listed this time is a new type of commercial travel vehicle optimized and upgraded in various aspects such as power, fuel economy, safety and comfort with the same quality as Europe and China’s leading technology. Since its debut at the Shanghai Auto Show in April this year, IVECO’s high-end light passenger PowerDaily2014 has attracted great attention from people inside and outside the industry with its leading intelligent technology and personalized comfort performance. At the just-concluded 2013 China’s first off-road rally, PowerDaily2014 won the T2 production car group manufacturer’s cup championship with its excellent performance and excellent quality, setting a precedent for commercial vehicles to enter the world’s top off-road events.

　　

　　The exterior design of IVECO’s high-end light passenger Power Daily 2014 was led by the Italian TECNOCAD company, which is a representative work of the high-level technical level of European light passengers. The appearance of the whole vehicle not only has the traditional dignity and elegance of Europe and the most fashionable and popular elements in the world, but also fully takes into account the aesthetics of people and integrates a large number of Chinese elements. Power daily2014 adopts the international leading F1C power system, and the models equipped with power suspension double the comfort when driving. The newly developed real-time tire pressure monitoring system and the traditional three-layer anti-collision body design ensure all-round driving safety. In addition, Power daily2014 fully adopts the intelligent driving computer system for the first time in the field of commercial vehicles, making the vehicle electrical appliances enter the "information highway era". Inheriting Europe’s advanced vehicle manufacturing technology and innovative design concepts, we provide users with a "luxury first class" business travel experience.

　　

　　At the launch conference, the relevant person in charge of Nanjing IVECO said: "Power Daily 2014 is a multi-purpose high-end business travel product. The product is positioned in the high-end business travel commuting market, and has multiple functions such as business, tourism, commuting, and special purposes. It can meet the diverse needs of different consumer groups. For the business market, we will focus on commercially developed first- and second-tier cities such as the Pearl River Delta, the Yangtze River Delta, and the Bohai Bay Rim region. For the tourism market, we will focus on the A-level and above tourist areas. At the same time, according to the different needs of customers, through the improvement and improvement of the sales network, service network, and accessories center, we will complete the domestic market layout of PowerDaily2014."

　　

　　Leap quality, please the world

　　"Leap into Shangjun X300" leapfrogging and entering the mainstream light truck market

　　As a leader in the domestic commercial vehicle industry, Nanjing IVECO has always adhered to quality as the key to forging core competitiveness. As the first independent light truck brand in our country, in the 55-year development process, it is with leading technology and excellent quality that it has won the trust and support of millions of users.

　　The newly launched Leap Forward Shangjun X300 is Nanjing IVECO’s cost-effective light truck product that meets the actual needs of the market and shares the latest technology platform. It has unparalleled leapfrog quality in terms of appearance, internal power and safety performance.

　　

　　"Leading styling, high-end quality, mid-range price, the newly launched Shangjun series will become a new force for the Yuejin brand to compete in the mainstream market of light trucks, creating maximum value for the new and old users of Yuejin". According to Zou Xiaojun, technical director of Nanjing IVECO, the cab of the Yuejin Shangjun X300 is stylish and bright. Compared with the same products on the market, its internal space is wider and the driving is more comfortable. The power chain system of the Yuejin Shangjun X300 adopts Italian IVECO technology, plus the optimized configuration of the six-speed gearbox and rear axle, reflecting the characteristics of high power performance and low fuel consumption. Due to the suspension system using the inverted swing arm structure, the center of gravity of the vehicle is reduced, making high-speed driving more stable. Coupled with the comprehensive improvement of the chassis configuration of the model, whether it is high-speed intercity logistics or complex road conditions, it can be handled calmly. In addition, the X300 also adopts German ZF technology, combined with the domestic advanced "limit angle limit technology", which greatly improves the safety and reliability of the vehicle while strengthening the handling.

　　

　　From the beginning of the year, Nanjing Iveco’s high-end light truck, which represents the latest global vehicle manufacturing technology, "surpassed" the global simultaneous listing, to today’s Shanghai X300, which has leapfrog quality for the mainstream light truck market, with the full support of SAIC Motor Group and Italy’s Iveco, Nanjing Iveco has repeatedly made historic breakthroughs in the field of light truck manufacturing technology. This is Nanjing Iveco’s light truck continuously digesting and absorbing the advanced design and vehicle construction concept of European commercial vehicles. It is also an important manifestation of the practice of independent brand innovation and development. It is a successful portrayal of Nanjing Iveco’s "combination of technology introduction and independent innovation" joint venture cooperation model.

　　Strength makes dreams come true, quality creates value. No matter what needs users have, product quality is an irreplaceable foundation and key, and stable and excellent quality comes from the excellence of every link such as design, process, manufacturing, testing, management, etc. Only by using constantly updated scientific and technological research and development to create constantly innovative products and using the concept of people-oriented to create excellent and excellent quality can we create products that truly satisfy users. Nanjing IVECO Automotive Co., Ltd. integrates excellent quality into its heart, runs through the line, and presents high-quality results in action. With the innovative ideas and pioneering spirit of the leader, it constantly creates maximum value for users with practical actions, and makes every effort to build a trustworthy commercial vehicle brand.

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The exterior design of Xingtu Lanyue shows a minimalist and elegant modernist style. In the front face, an atmospheric and delicate hexagonal air intake grille is used, with smooth lines, which complement the sharp headlights, giving the vehicle a strong visual impact. The streamlined design on the side of the body highlights power and movement, and the overall lines are tough, giving a sense of stability of a luxury SUV. The tail design pays attention to details, and the taillights are unique in shape, echoing the front of the car, creating a perfect fusion of technology and fashion. Xingtu Lanyue’s exterior shape not only meets functional needs, but also reflects the brand’s persistent pursuit of design aesthetics.

With its exquisite side design, Xingtu Lanyue shows the perfect blend of elegance and power. The body measures 4970mm x 1940mm x 1792mm, with a wheelbase of 2900mm, ensuring a spacious interior and excellent driving stability. Its front and rear track are both 1644mm, reflecting fine engineering design. The tire specification is 245/50 R20, which shows high performance and sporty sense both visually and performance. With the delicate wheel design, it jointly shapes its unique side profile.

The interior design of Xingtu Lanyue shows the perfect fusion of luxury and technology. The steering wheel is wrapped in exquisite leather to provide a comfortable grip, and supports manual up and down + front and rear adjustment to ensure the best operating position for the driver. The highlight of the central control area is the large 15.6-inch screen, which integrates multimedia system, navigation, telephone and air conditioning control, bringing users an intelligent driving experience. In terms of seats, the seat material is made of high-grade leather. The main and passenger seats are equipped with front and rear adjustment, backrest adjustment and high and low adjustment functions. The driver’s seat is also equipped with a power seat memory function to ensure the comfort of long-distance driving. The front seat is equipped with heating and ventilation functions, while the second row of seats also supports front and rear adjustment and backrest adjustment, resulting in a flexible spatial layout. The rear seats can be reclined in proportion, providing multiple possibilities for loading or passenger travel.

Xingtu Lanyue is equipped with a powerful 2.0T turbocharged engine with a maximum power of 192 kilowatts and a power output of 261 horsepower. This engine is paired with an 8-speed manual transmission to ensure a smooth driving experience and high-efficiency performance, meeting the driver’s demand for power and handling.

Summarizing the owner’s point of view, Xingtu Lanyue has won his favor with its international exterior design, and the stable and atmospheric body lines just fit his aesthetic. As he said, the charm of the appearance largely depends on personal preference, and Lanyue obviously meets his expectations for large-size models visually. Therefore, whether in daily driving or in the praise of friends, Xingtu Lanyue has become a masterpiece in the hearts of car owners.

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The Xingyue L is a luxury SUV, and its exterior design is highly technological and futuristic. The front face design adopts a streamlined design language, and the headlights are connected to the air intake grille to create a strong visual impact. The air intake grille adopts a star net-like shape, highlighting the luxury temperament of the car series. The body lines are smooth, and the roof lines are tilted back, presenting a dynamic body posture. The overall style is stylish and atmospheric, highlighting the high-end positioning of the car series. In addition, the car series is also equipped with LED headlights, LED daytime running lights, LED fog lights and other high-tech configurations, making it brighter and safer when driving at night. Overall, the exterior design of Xingyue L not only conforms to modern aesthetics, but also showcases a sense of futuristic technology and luxury.

Xingyue L is a medium-sized SUV with a body size of 4770 * 1895 * 1689mm, a wheelbase of 2845mm, and a front and rear wheelbase of 1610mm. The car uses 235/50 R19 specification front and rear tires, with moderate tire width and deep tread pattern, which has good grip and comfort. The side lines are smooth and the lines are simple, highlighting the sense of stability and strength of the car body. The overall shape is fashionable and atmospheric, and the wheel rim adopts a multi-spoke design with excellent visual effect.

The interior of Xingyue L is stylish and luxurious. The overall black tone is mainly used, with silver trim and piano paint decoration to create a high-end texture. The steering wheel is made of leather material, which feels comfortable. The position can be manually adjusted up, down and back. The central control screen size is 12.3 inches. It supports automatic speech recognition control system, including multimedia, navigation, telephone, air conditioning and sunroof functions. The seats are made of imitation leather and leather/fur material mix and match. The main driver seat supports four-way adjustment of front and rear, backrest, high and low and waist support. The passenger seat supports front and rear and backrest adjustment. The front seat is also equipped with heating and ventilation functions. The second row of seats can be adjusted by backrest, and the rear seat supports proportional reclining. There are two USB and Type-C ports in the front row, and two Type-C ports in the back row for easy charging. The overall interior design is simple and generous, the details are exquisite, and the driving comfort is high.

The Xingyue L is equipped with a 2.0T 238 horsepower L4 engine with a maximum power of 175 kW and a maximum torque of 350 N · m. At the same time, it is also equipped with an 8-speed automatic gearbox, which provides a smooth gear shifting experience and efficient fuel economy. The excellent performance of this engine and the cooperation of the gearbox make the Xingyue L perform well during acceleration and driving, providing drivers with a more comfortable and stable driving experience.

In the comments of Autohome owners, we can see that she gave high praise to the exterior design of Xingyue L. She expressed that she likes the waist line on the side the most, which makes the side posture coordinate very well and avoids the situation that the side of the SUV does not look good. In addition, she is also very satisfied with the body color and thinks it is very eye-catching on the road. It can be seen that Xingyue L does have an excellent performance in terms of exterior design, which brings a good visual experience to the owner.

　　On May 25, 2007, Sina Auto Editor invited Mr. Tian Yi, Secretary-General of the Standing Committee of Automobile Marketing Experts Committee, and Mr. Wang Pingsheng, Editor-in-Chief of Car Magazine, to visit Sina. Through the Sina live video platform, he talked with netizens about the upcoming Corolla, Haima 3, and Maiteng, introducing the highlights of these new cars and analyzing the future prospects of these new cars.

The picture shows a group photo of the guests. On the left is Tian Yi, Secretary-General of the Standing Committee of the Automobile Marketing Expert Committee, and on the right is Wang Pingsheng, Editor-in-Chief of Car Magazine

　　Host: Good afternoon Sina netizens! Today we are going to talk about the new models are Corolla, Maiteng and Seahorse 3. Mr. Tian Yi, Secretary-General of the Standing Committee of the Automobile Marketing Expert Committee, and Mr. Wang Pingsheng, Editor-in-Chief of Car Magazine, came to our scene to participate in this chat. The two of you say hello to everyone!

The Corolla has largely maintained the chassis platform of the older model, but has undergone significant changes in its exterior design　

　　Wang Pingsheng: Hello Sina netizens!

　　Tian Yi: Hello everyone, I am very happy to discuss with you today the issue of new cars.

　　Host: Let’s talk about the Corolla model first, because netizens pay more attention to this model. Teacher Tian, what is your general understanding of this car?

　　Tian Yi: It should be said that the entire impression of the Toyota car may have a general impression, that is, under the brilliance of its so-called bull’s head logo, it is still the consistent style of the Toyota car. It is relatively moderate and stable. But compared with the tenth and ninth generation Corolla, it should be said that it still has some things to be proud of in terms of appearance and new technology.

　　But I don’t think there’s much to say about Toyota’s car purely in terms of the model, which we know to communicate with netizens, or if it really represents some cutting-edge things in the world’s automotive development technology. But this doesn’t mean how this car is perceived in the market or among consumers. I just look at the car itself from the perspective of the car, the car itself, or the general trend of automotive technology development in the world today. This car is still the same style as all the models launched by Toyota, that is, it maintains a style of balance, moderation and stability.

　　Moderator: It targets consumers in all different regions of the world.

　　Tian Yi: Yes, it is still the global sales champion such a model, which is more due to its reliability, stability and its added value of service or the value of Toyota’s own brand.

　　Moderator: What about the price of its models? Will it have the same price advantage as in other regional markets?

　　Tian Yi: I think this is indeed a problem that FAW Toyota is facing now. I think these models launched by FAW Toyota, compared with Guangzhou Toyota, for example, compared with Camry, all models are still more personalized, or more cultural, or more suitable for a certain group of people. There are many such models. For example, a model like Camry seems to be all-you-can-eat. So this model, especially if it is the ninth generation Corolla, it is more like a vehicle that has been opened to traffic, and the tenth generation Corolla is more like a model that is a bit personalized or more determined by the market.

　　Host: That is to say, its external design determines its characteristics?

　　Tian Yi: Yes, because it is more avant-garde and has a slightly European feel compared to the ninth generation, it may face a problem of market share in this Chinese market. It does not mean that its car is good or bad. For example, I have always felt that its wisdom, from various configurations, or from the feeling, should not be worse than Camry, and even better than Camry in many places, in terms of indicators. But it just can’t keep up with Camry in terms of sales, which is a very real problem. This is also a common problem determined by the characteristics of the Chinese consumer market. This may also depend on how FAW Toyota can objectively balance to deal with such problems. This is my opinion.

　　Host: What are Mr. Wang’s thoughts on the design of the new Corolla?

　　Wang Pingsheng: Yes, I very much agree with what Mr. Tian has just summarized. It is quite comprehensive. Toyota’s strategy in China is indeed that the car it makes is not as technologically advanced as the German car. It is very unique. It is a comprehensive balance, including its space, configuration, and especially its configuration. The Camry is a very typical example. This car is designed to be more atmospheric first. The tenth-generation Corolla is more of an inheritance of the Camry Guangzhou Toyota Camry style, just one size smaller, so it is in the same vein as its design.

　　But in terms of configuration and interior style, it should be said to be more understanding, because the Japanese, as an Asian, know more about the Chinese market. Chinese consumers’ demand for cars does not require advanced, but he requires you to use enough, better balance, especially space, some configurations, what you want makes you unable to pick out faults, but in fact you say that this car can outperform others at one point, which is difficult. From the appearance design, Toyota insists on a self, I can’t remember whether it is a four-meter or five-meter effect, five-meter intention. Looking at this car from five meters away, you will be very impressed by it and attracted by its appearance.

　　Tian Yi: He means that you can get consumers by driving five meters up, and that’s what he means.

　　Wang Pingsheng: This may be his marketing strategy. If you can like this car directly from five meters, I think it is a bit exaggerated.

　　Host: I know that Mr. Wang has a little more contact with the product market, because I understand that the new Corolla actually has its platform site platform and the ninth generation model should not be much different. It may have changed the gearbox, and then the engine has some minor changes. What kind of progress do you think it has compared to the ninth generation in actual driving?

　　Wang Pingsheng: To be honest, this car is indeed like what you just mentioned, that is to say, this is a great feature of Japanese cars. When it is replaced by models and platforms, its territory includes its suspension. Changes in this regard should not be particularly large. So is Corolla. Its appearance is obviously a reborn change from the ninth generation, but in fact its driving feeling, including its chassis, and suspension. These components are not much different from the ninth generation. This is why it can control the cost very low. The price of this car is very low. Now I also took a look at the network. I think the price of this car may be lower, such as from 130,000 to 190,000. Due to the lack of updates, it is said that the procurement of components, including costs, will be very low, which gives it a competitive advantage.

　　Tian Yi: It should be said that if this car wants to fight a very beautiful one, it is still in the Chinese battle, and if the Corolla’s Chinese battle is to be played very beautifully, I guess he will do a lot of ambush things in terms of price. Otherwise, looking at it now, I think it is difficult for him to achieve a market effect like the Camry if he simply analyzes the competitors of this model as a whole. If there is not a lot of abdominal wall in terms of price, there is not a lot of ambush, I feel like this. But I think this car still has a lot of so-called advocates in China, and many people are looking forward to it. If it can also make a move that surprises the market or surprises consumers in terms of price, then its brilliance can still be displayed. But now we are all waiting to see what the outcome will be on the 28th.

　　Host: So in China’s current market consumption environment, price may be a leading aspect of car purchases that overrides all factors.

　　Tian Yi: Yes, why do you say that? Because I once communicated with them, the senior manager of FAW, and they set the annual sales of this car at 150,000 cars. This sales volume is quite amazing. If you want to complete such an annual plan, if there are no bigger concessions on the price, or if you open a bigger opening, then this car is also more difficult. It is indeed difficult to achieve annual sales 150,000 cars. Because there are many excellent cars in this level, including Fox, Tiida, Yida, etc., so there are many excellent models at this level, and they are all excellent, and the prices are all pressing down, so now FAW Toyota is indeed facing such an economical jungle area.

　　Wang Pingsheng: But FAW Toyota should be well prepared. In fact, when the Camry came out, it was also the same, as well as Guangdong Accord and Passat, which sold over 100,000 vehicles a year. When he came out, he sold both of them, so Chinese consumers still recognize this car.

　　Host: Asians are more aware of the mindset that Asians use.

　　Wang Pingsheng: Yes.

　　Host: Do you think the listing of the Corolla will change the price of the current competing models, further adjust the price, or what? Maybe it ultimately depends on the final price positioning of the Corolla?

　　Wang Pingsheng: I personally feel that it will definitely have an impact, but it is not likely to reduce the price for promotion as before. Because now family cars below Class B and above Class A, it should be said that within the range of Class A cars, it should be said that the price is still relatively pragmatic. There should not be many inflated places in it. The price may be adjusted in a small range, but it will not drop significantly. That is unlikely.

　　Tian Yi: I also agree with Mr. Wang’s statement, that is, among all the so-called models that can constitute competitors, the star models are now relatively stable in terms of price and sales, and in terms of market performance and their own feelings, there are basically relatively few people who are particularly dissatisfied. Therefore, if this car is listed, unless he has a very big new price initiative, I think these models are currently affected, but they will not be affected too much.

　　Host: I think in China, in fact, the ninth generation, for example, is sold in parallel with the tenth generation model. I think it should be a very useful sales model in China.

　　Wang Pingsheng: Yes, now that the new car comes out, the old car will be discontinued, but the main reason in China is…

　　Host: I think it’s still a matter of market capacity.

　　Wang Pingsheng: Yes, the market space in China is too large, and it is different. For example, Beijing may not be interested in some entry-level models like Geely, but in fact Beijing can only represent a part of it, so the market space in secondary cities and other cities is still very large.

　　Host: So one China may represent several global consumer trends, with some particularly peculiar means of consumption.

　　Tian Yi: The situation where several generations of models are sold together is very Chinese, because there are many different aspects of consumption brought about by the so-called economic cascade strategy or the economic development cascade terrain in China, and for example, many new models are often in terms of emissions, or more articles have been made in this regard, but in the end, for example, many regions in China do not have to pay attention to emissions or pay attention to other factors such as fuel. Therefore, it should be said that China has its market for a variety of models, because lower ones, such as Geely or some such markets, are still very broad. Therefore, multi-generation sales are indeed in line with China’s national conditions. In the past, many people also had a lot of debates on this issue, but I think the market can determine everything. If there is demand, it means that it has market performance.

　　Host: And I think doing this will make the new Corolla better market-priced because it has no worries.

　　Tian Yi: Even I think it is very likely that there will be a market scenario where, for example, the sales of the ninth generation corolla will be higher than the sales of the tenth generation corolla.

　　Host: I think so too. (laughs)

　　Tian Yi: This scenario is very likely to occur.

　　Moderator: I’ll insert a 30-second commercial first, and come back later.

　　(Insert ad)

In recent years, the domestic market joint venture brands, Mazda, the overall performance of the standard in the moment, it can be said that the mainstream series of brands no longer have a place, from the brand power and the overall recognition of the model, Mazda has long been out of the first line of household brands, and the model shows the cost-effective standard in the moment, and recently a new generation of 2024 Mazda Cx70 new medium-sized SUV real car debut, this model competitor is Toyota Highlander such mainstream medium-sized SUV models in the overall size is not very different, and the price level of the model is positioned at the 300,000 level, from the overall price level and the brand power of the model, it is very difficult to compete with Toyota Highlander.

Mazda CX70

The overall appearance of the new generation of Mazda CX70 is still very high, which is also one of the main advantages of Mazda SUV series models. In the face of many competitors, it is fully capable of ranking at the forefront in terms of appearance and design concept. The model has added a large number of youthful and sporty design concepts, which can not only satisfy the aesthetics of household consumers, but also attract the attention of young people.

The overall product performance of the model is not inferior, as is the interior. The overall workmanship materials are relatively solid, the configuration functions are relatively comprehensive, and the screen size is relatively large. However, considering that the price level of the model is also the performance of this price level, the comprehensive cost performance is fair.

The model is very powerful in terms of power, and a large-displacement turbocharged engine may be launched, without using the original naturally aspirated power system. This is also one of the advantages of this model in terms of power. The overall driving experience and driving pleasure of Mazda are relatively strong, and the blessing of a large-displacement turbocharged engine allows the model to have more advantages in terms of power.