标签： 上海私人品茶

Beijing financial support to build a ＂museum city＂ and make cultural treasures ＂alive＂

　　In April, 2020, Beijing issued the Medium-and Long-Term Plan for Beijing to Promote the Construction of National Cultural Center (2019-2035), pointing out that Beijing should build a "museum city" with reasonable layout, rich exhibitions and distinctive features. The Municipal Party Committee and the Municipal Government have written "Museum City" into Beijing’s "14th Five-Year Plan". The Municipal Finance Bureau closely focuses on the major deployment of promoting the construction of "Museum City" in the whole city, and solidly promotes the stable and healthy development of various museums.

　　First, "full guarantee" is free to open.Beijing, as one of the cities with the largest museum resources in the world, in recent years, the municipal and district governments have allocated about 1.1 billion yuan for museum operation every year, and actively strived for about 50 million yuan from the central government every year to jointly ensure the smooth opening and operation of museums and the construction of national key museums, constantly enriching the cultural supply of the capital and effectively enhancing the people’s sense of cultural acquisition.

　　The second is to "fully support" the construction of the new museum.Combined with the key tasks of the national cultural center construction, in order to further support the layout of theme museums along the Grand Canal, the Great Wall and the Yongding River Cultural Belt in Xishan, in recent years, the municipal finance has vigorously raised funds to ensure the construction progress of the Grand Canal Museum, the Luxian Old City Site Museum and other venues; Actively carry out the innovation of the guarantee mechanism of Yongding River Museum and Great Wall Museum, and accelerate the construction of a museum layout with criss-crossing and meticulous latitude and longitude in Beijing.

　　The third is to gather social forces by "replacing compensation with awards".In order to encourage social forces to set up museums, the Municipal Finance Bureau, together with relevant departments, has jointly formulated the Administrative Measures of Beijing Municipality on Supporting Funds for Social Forces to Set up Museums (Provisional), with an allocation of 20 million yuan to subsidize outstanding exhibitions and social education activities carried out by qualified non-state-owned museums and state-owned enterprise museums, encourage and guide social resources to enter the museum field, and release the development vitality of the museum industry.

　　Fourth, the "quota standard" regulates fund management.According to the requirements of the performance management reform of full-cost budget, in recent years, the quota guarantee standard of municipal museums’ operating costs has been studied and formulated, and a dynamic adjustment mechanism has been established to further scientifically evaluate the museum’s guarantee level and fund demand and promote sustainable development. The new standard has been applied in the preparation of departmental budget funds in 2023, further improving the standardized management level of museum guarantee funds in this city and helping Beijing to build the "Museum City" into a new generation of capital gold business cards.

Six dollars to buy two masterpieces, this time the Black Five and other parties won？

Original small hair bad review

The annual Black Five Promotion has finally begun. For many party players, this may be the only time to save money every year.

To this end, Xiaofa specially compiled a "discount game recommendation guide" for the poor friends, which includes:

Online platforms such as Steam, EPIC, eshop and PS store can be viewed on demand.

Therefore, regardless of whether it is a PC party or a host player, this time you can Shut up and take my money, and don’t say more, just start the whole thing!

STEAM

The first one is Steam. Let me state in advance that FIFA 23 has recently updated the World Cup content, and it has done fairly well. However, the optimization of this spicy chicken game is poor, and it is a problem to enter the game. Although it is discounted, it is not very recommended for everyone to start.

In addition to this one, let’s see what other tricks G Fat has used.

1. "Two in a Row"

Shi low $79.2

A two-person cooperative adventure game that is completely out of the circle is also the best game of the year last year.

It tells the story of a couple whose relationship broke down, but after a fairy-tale adventure, they re-established their family.

In terms of content flow, the producer is not stingy with his unconstrained ideas, which is the first choice for couples to warm up and have family fun. If you haven’t played it yet, you might as well try it this time.

2. Unusual Records of Goddess 5 Royal Edition

First discount ￥230.3

If you often visit the game community, you can always hear someone shouting "P5 is the best in the world", which is the game.

As the strongest representative of the new era of JRPG, there is no one. If you like cultivation, collection, excellent plot and Japanese role-playing, then P5R can bring you at least 90+ hours of wonderful memories.

3. Wizard 3: wild hunt Full Edition

Shi low $31.6

I believe that many players have been lying in the game library for a long time. This time, it is posted to remind everyone that the next-generation upgraded versions of PS5, XSX and PC will be launched for free on December 14th.

By then, the game will usher in a better picture, a more stable frame number, and a faster reading speed, and support FSR 2.1 and DLSS 3.

Of course, the most important thing is that CDPR also added Chinese dubbing to the game. I can’t wait to see Ye Naifa.

4. Portals 1&2 Collection

Shi low $6.3

Let me just say that there should be no objection to the ceiling of the game level design, right?

As G Fat’s own IP, how much fun the portal is, I really don’t know until I experience it myself. The game mode adopts decryption+FPS, and the process is not long, which requires both hands and brains. Numerous puzzle solving designs make people call heaven and man.

And the two works together, just a breakfast, may not be enough, unless you are very dizzy for 3D, otherwise I really have no reason not to recommend it.

5. The Balance of God

No discount ￥80

Seeing this, many poor friends may be a little strange. Why don’t you recommend this nonsense little hair at a discount?

And there is only one reason, this seemingly ordinary game, it is worth it.

This is a horizontal action RPG game developed by only one developer for 14 years. Although the picture is a bit spicy and retro, the content of the game is extremely rich, and everyone who has played it has completely cured electronic impotence.

Recently, Xiaofa will open this game as soon as he gets off work, so I have a bootleg and recommend it to you.

EPIC

The second platform is EPIC, our e-treasure, which gives games when nothing happens.

On November 25th of this Black Five, E Bao was still delivered, but there was only one: Star Wars: Fighter Squadron.

The gameplay of hitting the plane is general, and the quality of the game can’t be said to be bad. It is just a bit boring to play, and it belongs to the type that can be brought or not, unless Star Wars iron powder, it is ok to experience it.

If you are not interested, fast forward to the discount game recommendation link below.

1. fistful of dollars 2 Redemption

Non-historical low $82.17

Everyone is familiar with the big cousin. Last year, because he had a coupon on EPIC, as long as RMB 49, the intensity of this year is obviously not as good as last year, but now he is determined not to lose money.

After all, Big Cousin 2, as a masterpiece developed by R Star at a cost of $800 million, has been the uncrowned king in the hearts of countless players, although it narrowly defeated god of war 4 at the TGA in 2018.

If you want to feel the purest western scenery, slow-paced game experience, and the eventful years of the protagonist Arthur, you can rush.

2. "Batman Arkham Knight"

Shi low $11.6

Being rated as the best superhero game ever by players, no matter the plot, mirror operation, operation, sense of attack, sneak in and other elements, people can’t find anything wrong. Compared with the latest Gotham Knight, I recommend this one more.

Moreover, the price of EPIC this time is 2 yuan cheaper than Steam.

The only regret to say is that there is no Chinese, and the PC party can find a Chinese patch. Besides, Riddler, get out of Gotham!

3. Master SIFU

Shi Low ￥104.25

Brilliant in this year’s TGA Awards, developed by China Kung Fu Mystery-French Slocap Studio, is a hard-core action game with Hong Kong film style in the 1990s.

When it was launched at the beginning of the year, the popularity was not low. I don’t know how many players practiced boxing in nightclubs.

Because the Steam platform has not been put on the shelves, the PC side is regarded as e-treasure monopoly, and the price is acceptable after the discount, which is recommended.

ESHOP

Then, it is the eshop of the old family.

Because there are many services in the Switch area, and the discount strategies are different, the small club will mainly recommend the port area, supplemented by other areas, and the first one will be the first one:

1. "Thirteen Machine Soldiers Defence Circle"

The historical low of the port area is ￥280.

A character adventure game with a good plot experience, which has just logged on NS platform, has been a platinum masterpiece monopolized by PS platform before, and the development team is a first-class vanilla club in 2D art aesthetics.

The reason recommended on NS platform is that this game is really suitable for handheld devices, and the effect of transplant optimization is also very good.

It should be noted that at present, only the port area has Chinese, so don’t buy it wrong on impulse.

2、 《 INSIDE 》

The historical low of Japanese area is ￥10.2.

If you rank the price of eshop in reverse order, this game will appear first.

Although it is the cheapest and the process is not long, the content is not bad.

In terms of gameplay and style, it is very similar to a game called limbo, because both games are from the same studio.

The main story is slightly weird and scary, and the plot and gameplay are quite good. It is also one of the few games in which NS is cheaper than Steam.

3. "The Wizard’s Kunte Card"

Euro zone $60.5

Due to the next-generation update of Wizarding 3, there is no new content of Kunte brand that Xiaofa loves most, and only NS is absent, so I recommend you to experience this card game on the handheld with this discount.

Those who regard "The Wizard" as the starter of Kunte brand may wish to play this game directly, which is of high quality, with Chinese subtitles and Chinese dubbing, and on NS, they can really play cards anytime, anywhere!

4. Sorry, I’m an NPC

The historical low of the port area is $17

A 2008-year-old game that just went on the shelves of eshop this year, with a short process of more than 2 hours, I really don’t want to recommend it if it is less than 20 yuan, but now it is 17 yuan, which is still worth buying.

From the name of the game, we can see that this game does not follow the usual path. Our protagonist is no longer a brave man, but a pure passerby. The plot is spoofed and stalked. Poor friends who like contrast can try it at a low price.

5. White Neon

The historical low of the port area is $99.

If you have a PC, Xiaofa actually doesn’t recommend NS platform, but this game has a sense of body on NS, and it’s really cool to play in bed.

Also as a popular nomination for indie games of TGA this year, it is creatively full. The game type is not only FPS, but also platform jumping, as well as point card elements. It focuses on the concept of Speedpass and has an unimaginable level design.

At present, the user evaluation of major platforms has received rave reviews, but remember that there are many language choices in the game.

PS STORE

Last one, PS Store, the platform of Sony.

Not much to say about this. Comparing the prices of many games comprehensively, it is not the cheapest, but during the Black Five period, all the members of PS Third Gear will get a 75% discount. Xiaofa recommends that you renew a second-class member directly, and the annual price is RMB 354, which is still worth it.

A while ago, it was not recommended for everyone to buy it, but now Sony is still expanding its game library, with the 50th Anniversary Edition of the Elder Scrolls, which is still in Chinese. "kingdom hearts" family bucket; A collection of Assassin’s Creed; And a group of Sony high-quality first parties, very fun.

By the way, in fact, the discount on XBOX is not small, and games in low-priced areas are often cheaper.

However, the purchase process is not very convenient, and with XGP, everyone doesn’t care much, so this time it won’t be included in the recommendation list.

In addition, if the poor friends have other recommendations, please add them in the message area!

Original title: "Six dollars to buy two masterpieces, this time the Black Five and other parties won? 》

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Inventory： 8 SUVs to be listed in 2024!

In the automotive industry, the perfect combination of style and function can always trigger a new trend. In the past two years, the "square box" SUV is such a trend that can not be ignored. Since the popularity of Tank 300, this unique model design has gradually become the new favorite of the market.

In 2023, we witnessed the bright performance of the brand-new BJ40, Haval Raptors, Jetway Traveler and Equation Leopard 5. With the arrival of 2024, this "square box" trend seems to be getting more and more fierce, indicating that a large wave of new models are about to debut.In this article, we will explore these upcoming SUV models together.See how they will continue to lead the market.

1. The transformation of Baojun Yueye PLUS

Baojunyue’s sales in 2023 were also unsatisfactory, with only 14,683 vehicles sold throughout the year.Analysis of the reasons, in addition to high pricing,Lack of practicality is also the key.Therefore, Baojun quickly launched an upgraded version-Yueye PLUS. Based on the brand-new platform design, this car has been significantly improved in size and space, and its appearance is more tough. In terms of power, Yueye PLUS is driven by a rear single motor, and its endurance has reached 401km. It plans to go public in the first quarter of this year.

2. The new style of Deep Blue G318

The third model of Deep Blue Auto, Deep Blue G318, is expected to announce the application information in the near future.The design language of this car has changed, adopting Cyberpunk elements, and its size has reached the standard of medium and large SUV. In terms of power, it is equipped with a deep blue super extended range system and a dual-motor four-wheel drive version. The price of Deep Blue G318 is expected to reach 300,000, directly targeting the tank brand and Equation Leopard 5.

3. Expectation of the new Toyota Prado

The new Toyota Land Patrol Prado is expected to be launched in the middle of this year, using a 2.4T hybrid system to match the 8AT gearbox. New Toyota Land Patrol Prado’sThe price is expected to be around 470 thousand, and the pre-sale will begin on February 29 this year.

4. The appearance of the new Lexus GX550h.

The new Lexus GX550h has been listed, and the price range is 778-888,000 yuan.This car is equipped with T24A-FTS 2.4T+8AT hybrid system and full-time four-wheel drive system. The middle model is specially equipped with rear axle differential lock and creep mode, as well as E-KDSS electronic dynamic suspension system.

5. The replacement of the new Haval H9

On the occasion of the 10th anniversary of Haval H9, a new generation of Haval H9 finally appeared.The second-generation Haval H9 continues the hard-core off-road style, adopts a non-loaded body structure, and will launch a 2.0T+8AT version and a 2.0T+9AT diesel version in terms of power. In addition, the new Haval H9 will also be equipped with the Hi-4T plug-in system of Great Wall. In off-road configuration, it is expected that the front double wishbone+rear five-bar integral bridge-type dependent suspension will be adopted. The new Haval H9 price range is expected to be consistent with the old H9.

6. Expectation of C-DM, a pioneer traveler.

Last August, Jetway Traveler plug-in hybrid version-Jetway Traveler C-DM was unveiled at Chengdu Auto Show, and it is expected to be launched in the first quarter of this year.This car maintains the original appearance and interior design, the main change is the upgrade of the power system, equipped with Chery Kunpeng C-DM electric hybrid system. It is reported that it will provide single-motor and dual-motor versions, with 3DHT electric hybrid gearbox.

7. Expectation of Tank 300Hi4-T

The highly anticipated plug-in hybrid version of Tank 300-Tank 300Hi4-T is planned to be launched in the second quarter of this year.This car is equipped with a hybrid system of 2.0T engine+motor +9HAT gearbox, with a comprehensive power of 300kW, a peak torque of 750N·m, a battery energy of about 37.1 kWh, and a pure electric cruising range of 110km. The listing of Tank 300Hi4-T is expected to further enhance the market competitiveness of Tank 300 series.

8. Expectation of Jiangling Ford Bronco

Jiangling Ford Bronco, or Ford Fierce Horse, is expected to go public this spring.This car retains the original design of the overseas version, is equipped with a 2.3T turbocharged engine with a maximum power of 202kW, and has a towing qualification of 1.5T, which adds more playability to outdoor sports.

Wheel valley conclusion:

With the coming of a series of new "square box" SUVs in 2024, we not only see the continuous enthusiasm of the market for this unique shape, but also witness the perfect balance found by automobile manufacturers between meeting consumer needs and innovative design.From Baojun Yueye PLUS to the brand-new Toyota Prado, each new model is not only a means of transportation, but also a manifestation of personality and lifestyle. Their arrival indicates that more diversified and personalized car choices are becoming the new normal.

Both hardcore cross-country enthusiasts and home users who pursue practicality and comfort can find their own perfect car in this new trend. Let’s wait and see how these new members will shine in the market and continue to write the legendary story of "Square Box" SUV.

Who is more comfortable, a car or an SUV?

Both cars and SUVs are very popular in the market, but there is a problem that puzzles many friends.That is, who is more comfortable, a car or an SUV?

To know the answers to these questions, go to WeChat official account at once.[Practical knowledge of automobiles]Background reply keyword "SUV"You can see it!

Keywords: SUV

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BYD： The net profit in the first three quarters of 2023 was 21.367 billion yuan, up 129.47% year-on-year.

CSI Intelligent Financial News BYD (002594) disclosed the third quarterly report of 2023 on October 31. In the first three quarters of 2023, the company achieved a total operating income of 422.275 billion yuan, a year-on-year increase of 57.75%; The net profit of returning to the mother was 21.367 billion yuan, a year-on-year increase of 129.47%; Deducting non-net profit was 19.349 billion yuan, a year-on-year increase of 131.32%; The net cash flow from operating activities was 97.86 billion yuan, up 7.50% year-on-year; During the reporting period, BYD’s basic earnings per share was 7.35 yuan, and its weighted average return on equity was 17.74%.

The announcement shows that the company’s operating income changes in the first three quarters were mainly due to the increase in sales of new energy vehicles.

Based on the closing price on October 30th, BYD’s current price-earnings ratio (TTM) is about 24.83 times, price-to-book ratio (LF) is about 5.48 times, and market-to-sales ratio (TTM) is about 1.23 times.

The historical distribution map of the company’s price-earnings ratio (TTM), price-to-book ratio (LF) and marketing ratio (TTM) in recent years is as follows:

According to the third quarterly report, the company achieved a total operating income of 162.151 billion yuan in the third quarter, up 38.49% year-on-year and 15.86% quarter-on-quarter. The net profit returned to the mother was 10.413 billion yuan, up 82.16% year-on-year and 52.59% quarter-on-quarter. Non-net profit was 9.654 billion yuan, up 80.95% year-on-year and 57.49% quarter-on-quarter.

According to the data, the Group is mainly engaged in automobile business, mobile phone parts and assembly business, rechargeable battery and photovoltaic business, and actively expands the urban rail transit business field by using its own technological advantages.

In the first three quarters of 2023, the company’s gross profit margin was 19.79%, up 3.90 percentage points year-on-year; The net interest rate was 5.29%, up by 1.56 percentage points over the same period of last year. Judging from the single-quarter indicators, the gross profit margin of the company in the third quarter of 2023 was 22.12%, up 3.16 percentage points year-on-year and 3.40 percentage points quarter-on-quarter; The net interest rate was 6.71%, up 1.54 percentage points from the same period of last year and 1.66 percentage points from the previous quarter.

The data shows that in the first three quarters of 2023, the company’s weighted average return on equity was 17.74%, an increase of 8.31 percentage points over the same period of last year; The company’s return on invested capital in the first three quarters of 2023 was 13.83%, an increase of 6.99 percentage points over the same period of last year.

In the first three quarters of 2023, the company’s net cash flow from operating activities was 97.86 billion yuan, a year-on-year increase of 7.50%; The net cash flow from financing activities was 256 million yuan, an increase of 16.254 billion yuan; The net cash flow from investment activities was-94.403 billion yuan, compared with-83.657 billion yuan in the same period of last year.

Further statistics show that the company’s free cash flow in the first three quarters of 2023 was-27.524 billion yuan, compared with 13.070 billion yuan in the same period of last year.

In the first three quarters of 2023, the cash ratio of the company’s operating income was 100.16%, and the net cash ratio was 458.00%.

In the first three quarters of 2023, the company’s expenses during the period were 51.174 billion yuan, an increase of 25.878 billion yuan over the same period of last year; During the period, the expense ratio was 12.12%, up by 2.67 percentage points over the same period of last year. Among them, sales expenses increased by 84.13%, management expenses increased by 60.39%, research and development expenses increased by 129.42%, and financial expenses increased from-1.340 billion yuan in the same period last year to-1.272 billion yuan.

According to the data, the change of sales expenses is mainly due to the increase of sales service fees and employee salaries; The change of management expenses is mainly due to the increase of employees’ salary.

In terms of major changes in assets, as of the end of the third quarter of 2023, the company’s fixed assets increased by 57.84% compared with the end of the previous year, accounting for 6.70 percentage points of the company’s total assets; Accounts receivable financing increased by 146.86% compared with the end of last year, accounting for 2.50 percentage points of the company’s total assets; Trading financial assets decreased by 48.55% compared with the end of last year, accounting for 2.48 percentage points of the company’s total assets; Construction in progress decreased by 8.18% compared with the end of last year, accounting for 2.47 percentage points of the company’s total assets.

In terms of major changes in liabilities, as of the end of the third quarter of 2023, the company’s accounts payable increased by 29.30% compared with the end of the previous year, accounting for 0.69 percentage points of the company’s total assets; Other payables (including interest and dividends) increased by 26.51% compared with the end of last year, accounting for 0.06 percentage points of the company’s total assets; Short-term loans increased by 95.96% compared with the end of last year, accounting for 0.58% of the company’s total assets, mainly due to business expansion and short-term financing; Contract liabilities increased by 7.31% compared with the end of last year, accounting for 1.08 percentage points of the company’s total assets.

In terms of solvency, the company’s asset-liability ratio at the end of the third quarter of 2023 was 77.37%, up 1.95 percentage points from the end of last year; The interest-bearing asset-liability ratio was 4.05%, up 0.16 percentage points from the end of last year.

In the first three quarters of 2023, the company’s current ratio was 0.66 and the quick ratio was 0.44.

In terms of chip concentration, as of the end of the third quarter of 2023, the total number of shareholders of the company was 358,500, an increase of 27,000 or 8.15% compared with the end of the first half of the year; The average stock market value per household decreased from 2,267,700 yuan at the end of the first half of the year to 1,921,700 yuan, a decrease of 15.26%.

Indicator notes:

price/earning ratio

= total market value/net profit. When the company loses money, the price-earnings ratio is negative. At this time, it is meaningless to use the price-earnings ratio for valuation, and the price-to-book ratio or market-to-sales ratio is often used as a reference.

PB ratio

= total market value/net assets. The price-to-book ratio valuation method is mostly used for companies with large profit fluctuations and relatively stable net assets.

Marketing rate

= total market value/operating income. Market-to-sales ratio valuation method is usually used for growth companies with losses or small profits.

In this paper, the P/E ratio and marketing ratio are calculated by TTM method, that is, based on the data of the latest financial report (including forecast) for 12 months. The P/B ratio adopts LF method, that is, it is calculated based on the data of the latest financial report.

When the price-earnings ratio is negative, the current quantile is not displayed, which will lead to the interruption of the line chart.

Editor in charge:

2024 Tank 300： Fashion Conqueror, with three models starting at RMB 199,800.

The popularity of tank 300 is a special phenomenon in the automobile market. The unwilling young people, relatively friendly price system and hard-core fashionable style have made this product series sell well. After some trimming, the 2024 tank 300 was put on sale, and the convenience and efficiency of use were improved.

The 2024 models include challenger, conqueror and passerby, and the suggested retail prices are 199,800 yuan, 216,800 yuan and 226,800 yuan respectively. Among them, the passer-by is a light-mixed vehicle with relatively excellent fuel economy.

2024 tank 300 Challenger and Conqueror upgraded the configuration, adding four-door windows with anti-pinch function and wireless fast charging function of 50W mobile phone. At the same time, equipped with snail horn and ETC.

The 2024 Tank 300 Crosser is upgraded based on the original city version, equipped with a 2.0T+9AT+48V light mixing system, with a maximum net power of 180kW and a maximum net torque of 380Nm. In terms of configuration, the passer-by also added four-door window one-button lifting, 50W mobile phone wireless fast charging, snail horn, ETC and other functions.

The 2024 Tank 300 continues to be equipped with a non-loaded body professional off-road chassis, with a approach angle of 33, a departure angle of 34 and a longitudinal passing angle of 23.1. Trailer hooks are equipped at the front and rear of the vehicle, and the safety holes are reserved and dragged. At the same time, the 2024 model is equipped with a new generation of ATS all-terrain control system, providing a variety of driving modes.

The 2024 Tank 300 is equipped with L2+ intelligent driving assistance system, which provides driving assistance functions such as ACC adaptive cruise and LKA lane keeping assistance. The 2024 model is also equipped with vehicle remote control function.

There is no need to blame the winners, and the hot sale of Tank 300 is also enlightening to many local enterprises. In the face of imitative competitors, tanks are also achieving self-improvement. Better fuel economy and richer standard configuration further enhance the market competitiveness of this series.

Behind the contrarian growth of FAW Hongqi： autonomous high-end is gradually becoming a climate

Observation | Behind the counter-trend growth: autonomous high-end is gradually becoming a climate

In the past September, China’s auto market once again handed over a beautiful "report card", and auto production and sales have shown growth for six consecutive months. Against the backdrop of the global auto industry being hit by the pandemic, the rapid recovery of China’s auto market undoubtedly provides a good model for the recovery of the global auto market.

However, under the premise that the domestic auto market is recovering well, the market share of Chinese brand passenger cars has shown a decline, falling to 36.4% from January to September, a year-on-year decrease of nearly 2.3 percentage points.

"The sales performance of Chinese auto brands is directly related to the trend of the auto market in the fourth quarter." An industry expert expressed the above judgment to Securities Times Car Capital.

Securities Times · Car Capital noticed that in the process of major Chinese auto brands struggling to turn around the decline, FAW Hongqi has achieved a contrarian growth that far exceeded market expectations. In September, monthly sales exceeded 20,000 vehicles, an increase of 86% year-on-year. This is a huge contrast with its sales performance in previous years.

Why did FAW Hongqi’s sales rise against the trend? What enlightenment will its growth bring to more Chinese auto brands and even the entire industry? It has become a hot topic in the industry recently.

Thunder reform works

"The competition in the entire manufacturing industry is intense, and it is more organic when it is dangerous. We saw such a prospect in FAW. Your development this year is unique."

On July 23, the top leader of the General Secretary of the Central Committee of the Communist Party of China, the President of the State, and the Chairperson of the Central Military Commission praised the red flag, the representative of the national brand, during a visit to the General Research and Development Institute of China FAW Group.

In the context of the "black swan" epidemic in China’s auto market for two consecutive years, the rise of FAW’s red flag against the trend can indeed be called "the unique scenery here".

A few days ago, China FAW announced sales data in September, Hongqi brand sales reached 21,500, an increase of 85.9%; 1-9 cumulative sales of 130,000, an increase of 104.4%. In 2019, Hongqi brand sales achieved nearly 600% year-on-year growth, cumulative sales exceeded 100,000.

Compared with the sluggish sales performance in earlier years, these two sets of data are like a "shocking reversal". What exactly did the Hongqi brand rely on to achieve a breakthrough against the trend? This has not only become a hot topic within the automotive industry, but also a hot topic for some investors.

An Qingheng, director of the China Automobile Industry Advisory Committee, told Securities Times Car Capital that the soaring sales of FAW Hongqi are closely related to its internal reforms in the past two years.

In September 2017, Xu Liuping, chairperson of FAW Group, who had been in office for less than two months, launched the Thunder Reform and adjusted the Hongqi brand to be directly operated by the group headquarters.

"This time the reform movement is particularly large. The original FAW Technology Center has been delisted, but the R & D General Institute, the Modeling Design General Institute, the New Energy Development Institute, and the Intelligent Networking Development Institute have been established respectively." An employee of FAW Group headquarters told Securities Times Che Capital on condition of anonymity that after the new organizational structure was completed, the group also carried out a "all stand up and compete for posts" personnel reform, and more than 4,000 cadres and employees at the headquarters had to be re-hired through competition.

At the beginning of 2018, the previous system reform quickly bore an important fruit – China FAW released the new Hongqi brand strategy. It is worth noting that at this press conference, China FAW called out the sales target of Xinhongqi, that is, 100,000 units in 2020, 300,000 in 2025, and 500,000 in 2035.

"Although the industry has not publicly discussed the sales target set by Xinhongqi, there are still many doubts." An Qingheng told Securities Times Car Capital that practice has proved that this series of reform policies has effectively promoted the development of Hongqi. Objectively speaking, Xu Liuping, as the helm of the company, played a key role.

An industry insider told Securities Times Car Capital that although the market share of Chinese brand passenger cars has declined and most of them face challenges, in general, there is still a strong entrepreneurial spirit in the industry, and the overall reform atmosphere is strong. Each brand is seeking transformation in line with the "new four modernizations" of the industry.

"It should be said that the revival of the Hongqi brand has exported a positive sample to the Chinese auto industry." An Qingheng believes that the successful transformation of Hongqi has brought inspiration to more independent brands and provided an upward path for reference.

Who is buying the Red Flag car?

"I was in my early 30s this year and bought a Hongqi H5 in 2019. At that time, I mainly liked the design and configuration of this car. You can’t enjoy this configuration by buying a joint venture car at the same price." Mr. Zhang, who lives in Zaozhuang, Shandong Province, told Securities Times Car Capital that in addition to high cost performance, what he values most is the overall tonality of the Hongqi brand. "Driving a Hongqi car, you seem to be very stable, and you have more face and personality," Mr. Zhang said.

Observation | Behind FAW Hongqi's contrarian growth: autonomous high-end gradually becoming a climate

Previously, people’s impression of Hongqi models was mostly "inspection cars" or concierge executive cars, which seemed to have little direct connection with the market. But with the launch of Hongqi H5, H7, HS5, HS7, H9 and other models in the past two years, this existing "stereotype" is gradually disintegrating.

A person close to China FAW told Securities Times Car Capital that according to his understanding, there are generally two types of consumers who buy Hongqi brand models. One is the more emotional and supportive, and the purchase of Hongqi cars is very national pride; the other is the more trendy consumer group. In recent years, the products launched by the Hongqi brand are more recognizable and can meet the personalized needs of consumers who pursue "different".

Pan Helin, executive dean and professor of the Digital Economy Research Institute of Zhongnan University of Economics and Law, told Securities Times Car Capital that the Hongqi brand has a deep historical sedimentation, and in this round of reform, FAW has made a good excavation of the value of the Hongqi brand. More importantly, the current market has undergone tremendous changes, and consumers’ car purchase preferences and habits are changing and becoming more diverse. This fundamental change in consumption trends will bring opportunities to Chinese car brands.

Indeed, in recent years, the rise of the national tide, Li Ning boarded the New York Fashion Week, the Forbidden City lipstick was snapped up, the white rabbit toffee, and the leap white shoes ushered in the red… Buying domestic products has become an emerging trend. Some analysts have pointed out that the rise of the national tide is not only related to the rise of young consumer groups and changes in consumer trends, but more importantly, it is closely related to the overall rise of national cultural self-confidence. Consumers can find a sense of satisfaction and belonging by purchasing domestic products full of cultural connotations.

The same is true of returning to the auto industry. At a Hongqi brand 4S store on Yaojiayuan Road in Beijing, a customer looking at the car told Securities Times Car Capital: "In recent years, Chinese brand models have improved in terms of design and product quality, especially the technology configuration is quite awesome. Driving Chinese brand models makes me feel quite proud."

Observation | Behind FAW Hongqi's contrarian growth: autonomous high-end gradually becoming a climate

Securities Times Car Capital noticed that even on weekdays, the Hongqi 4S shop is very busy, with consumers constantly coming to see the cars, and most of them are family units. "If it is on weekends, there will be a lot of consumers around every exhibition car, and there will be a queue when entering the cockpit to see the interior." Sales staff at Beijing Longze Hongqi Automobile Sales Co., Ltd. told Securities Times Car Capital.

In the most prominent position in the exhibition hall of this Hongqi 4S store, there is a Hongqi H9 that has just been listed. The above sales staff told Securities Times Car Capital that the new car has only been on the market for one month, and the order will be queued. At present, the most advanced configuration will take two months, and the personalized configuration will take almost half a year to pick up the car.

Observation | Behind FAW Hongqi's contrarian growth: autonomous high-end gradually becoming a climate

From little attention to ordinary consumers to monthly sales of 20,000 vehicles, the Hongqi brand has really moved to the end point market and completed its self-transformation.

"High-end is the right move!"

In the past period of time, some independent brands relied on price advantages to seize the market, and sales performance was also very good. But after a careful study of the pricing system of Hongqi’s main models, it will be found that "winning at a low price" is not the path chosen by Hongqi. Take Hongqi H7 as an example, its official guide price is 252,800 yuan – 317,800 yuan, and the newly listed Hongqi H9 has a guide price range of 309,800 yuan – 539,800 yuan. Obviously, the "200,000 yuan pricing ceiling" that continues to plague independent brand brands is being broken by Hongqi.

The salesperson in the Hongqi 4S store told Securities Times Car Capital that buying Hongqi’s new models does not require a price increase to pick up the car, which is a hard and fast rule of the manufacturer. However, Hongqi also rarely engages in promotional activities, and the price is relatively firm.

"Hongqi basically does not engage in promotions, and our discounts are more reflected in after-sales." The above-mentioned salesperson told Securities Times Car Capital that the purchase of Hongqi owners enjoys a lifetime free warranty service. At the same time, at the level of used car replacement, Hongqi can give the same value preservation rate as other luxury brands, relieving consumers of car replacement troubles.

Pan Helin said that in recent years, the Hongqi brand has made great efforts in marketing and channel construction, especially through the digital management model to transform the service chain, which has provided important support for the growth of sales.

It is not difficult to see that the re-started Hongqi brand is fully positioning itself as a luxury brand. In fact, many industry authorities have automatically included the Hongqi brand in the luxury brand camp in the process of ranking the sales list of automobile companies. In September, Hongqi successfully exceeded the monthly sales of 20,100 vehicles with 21,500 sales performance.

Industry insiders believe that compared with other independent brands, Hongqi’s high-end road has a natural brand advantage. An Qingheng told Securities Times Car Capital that the competition in China’s auto market is very fierce at present, and some mid-to-low-end enterprises have been gradually eliminated by the market, but independent brands, including, and so on, continue to move up and carry out high-end transformation. In his opinion, Hongqi’s sales have risen sharply against the trend, which further reflects the strength of Chinese auto brands and fully verifies the importance of high-end independent brands.

Shengang Securities analysis pointed out that the current Chinese auto brand products are no longer limited to low-price competition, and the idea of brand upward is becoming more and more obvious. Among them, higher profit levels are the driving force for brand upward.

Securities Times Car Capital learned that, taking Volkswagen Group as an example, the profit level of Volkswagen Group’s Volkswagen brand in 2019 was 4.3%, while the profit margin of its luxury brand was nearly twice that, reaching 8.1%, and the more luxurious brand reached 16.2%.

At the same time, Shengang Securities also analyzed that the solid growth of China’s automobile market in recent years has provided a solid foundation for Chinese automobile brands to move up the brand, and has also brought sufficient capital and technology accumulation space to enterprises.

However, An Qingheng also stressed that China’s auto market is very large, with both high-end and low-end markets. Companies should target precise market segments according to their own positioning. At the same time, whether it is high-end or low-end, the most important thing is to improve product quality. This is the foundation for building brand power and influence.

Anshun Hongqi H5 price reduction news, the latest offer 124,800! only this time

In [Autohome Anshun Discount Promotion Channel], in order to meet the needs of consumers, we are honored to announce that the high-profile model is being promoted with extremely attractive discounts. At present, this model is undergoing a real price reduction storm in the Anshun area. The maximum discount amount has reached an astonishing 35,000 yuan, which further reduces the minimum starting price of the already highly competitive Hongqi H5 to 124,800 yuan. This is an opportunity not to be missed. If you are interested in Hongqi H5, be sure to click "Check Car Price" in the quotation form to seize this rare promotion moment and make your car purchase dream even more accessible.

安顺红旗H5大幅降价，最新报价12.48万！仅此一次

安顺红旗H5大幅降价，最新报价12.48万！仅此一次

[Hongqi H5] The side lines are smooth and atmospheric, the body size is 4988mm*1875mm*1470mm, and the elegant body proportions show an extraordinary atmosphere. The wheelbase is up to 2920mm, ensuring the comfort of the interior space. The balanced layout of the front wheelbase of 1615mm and the rear wheelbase of 1607mm not only improves stability, but also reflects the precise design of the vehicle. The tire size is 225/55 R17, and it is matched with a dynamic wheel design, which not only enhances the visual effect, but also provides good grip and silent performance for driving.

安顺红旗H5大幅降价，最新报价12.48万！仅此一次

The interior design of the Hongqi H5 is full of luxury and technology. The steering wheel is wrapped in exquisite leather material, providing a good grip and touch. It supports manual up, down, and front and rear adjustments to ensure driver comfort. The 12.6-inch central control screen occupies the visual focus of the car, integrating multimedia, navigation, phone and air conditioning control functions, making it easy to operate and clear to display. The seats are made of fabric, focusing on comfort. The main and auxiliary seats support multi-directional adjustment, such as front and rear, backrest and high and low, to meet the individual needs of passengers. The rear seats support proportional reclining, which increases the flexibility of the space. The overall interior is practical and user-friendly to create a high-texture ride experience.

安顺红旗H5大幅降价，最新报价12.48万！仅此一次

For the engine configuration of the Hongqi H5, it is equipped with a 1.5T turbocharged engine, which can provide a powerful power output, with a maximum power of 124 kilowatts and torque of 258 Nm. The engine uses an L4 layout and has 169 horsepower. It is matched with a 7-speed wet dual-clutch transmission, which ensures a smooth driving experience and efficient performance of the vehicle.

In general, the Autohome owner is full of praise for the appearance of the Hongqi H5. He mentioned that the atmospheric appearance of this model has attracted many riders, and even with the 1.5T engine, the power performance has pleasantly surprised him. This Hongqi model obviously successfully meets his needs for design and performance, which is impressive.

Huaxi Zidai Factory was exposed as Japanese capital？ The factory admits： But …

On September 20th, the rumor that Hua Xizi’s "Public Relations Collective Resignation" and the letter of apology had nothing to do with the public relations department went on the hot search, which once emphasized that it was an authentic domestic product.

Jiupai Financial Reporter noticed that the product parameters of Huaxizi Balanced Liquid Foundation in Tmall flagship store showed that its manufacturer was Shanghai Dongse Daily Chemical Co., Ltd.. The product is similar in shape to the traditional snuff bottle, and the details page emphasizes its inheritance of "Oriental Rhyme".

According to the data, Shanghai Dongse Daily Chemical Co., Ltd. is 100% wholly-owned by Dongse Cosmetics Co., Ltd., and its chairman and legal representative are Ishihara Jinghong, and its director and general manager are Tamura Keiji, with a registered capital of 3.48 million US dollars. It was established in 1999. The national enterprise credit information publicity system also shows that Shanghai Dongse Daily Chemical Co., Ltd. is a limited liability company (wholly owned by a foreign legal person).

On September 20, Jiupai financial reporters called Shanghai Dongse Daily Chemical Co., Ltd., and the staff said that "Huaxizi Balanced Liquid Foundation is produced by us, and we are a Japanese-funded enterprise; But the factory is in China and the employees are all from China. "

In this regard, Huaxizi customer service responded to the Jiupai financial reporter: "At present, all the products of Huaxizi are manufactured in China, which have been put on record by the government and passed the strict testing of relevant departments."

It is reported that Dongse Group is a well-known Japanese cosmetics pigment related manufacturer, and its production scope covers functional raw materials, powder and liquid makeup, nail polish and skin care. Shanghai Dongse Daily Chemical Co., Ltd. is a cosmetics processing enterprise invested and established in China.

Previously reported

Recently, when Li Jiaqi introduced a Huaxizi eyebrow pencil in 79 yuan during a live broadcast, he saw a netizen leave a message saying that it was getting more and more expensive. He asked, "Where is it expensive? It’s been this price for so many years. Don’t talk nonsense with your eyes open. Domestic brands are difficult … where is it expensive? "

Later, Li Jiaqi said: "Sometimes I look for my own reasons. After so many years, my salary has not risen. Have you worked hard?"

It is this sentence that triggered a heated discussion among netizens.

On September 19th, more than a week after the live broadcast in Li Jiaqi, Weibo, the official of Huaxi Zi, issued an apology statement, saying that he was sorry that we were late. In the past week, the whole network paid great attention to it, and the relevant opinions were fully recorded and being revised according to the opinions of netizens. Some netizens think that Hua Xizi didn’t respond more to the Li Jiaqi incident, and half of the contents in the letter were promoting the brand.

The apology statement is as follows:

Thank you for your attention to Hua Xizi.

I sincerely apologize to all of you. In the past week, Huaxizi has received great attention from the whole network. We are scared and at a loss, and the brand has not spoken before. During this time, we constantly absorbed your criticisms, opinions and suggestions.

I’m very sorry for taking up too many public resources. Thank you for your encouragement. We have fully recorded the relevant opinions, and the team is comparing, revising and upgrading them one by one, adhering to the initial intention, bringing you better products and providing better services.

This large-scale attention and discussion is a valuable opportunity for us to listen to the real voices of different consumers, and it is also the starting point for the team to self-examine and start again. Thank you very much for your attention, whether you have used our products or have never known our partners.

Hua Xizi was founded in Hangzhou, and became attached to Xizi Lake, with Hua as the surname and Xizi as the name. R&D center, production plant, tax payment, etc. are all in China, and it is an out-and-out China brand. "Promoting the beauty of the East and casting a century-old national makeup" is Hua Xizi’s brand vision. Since the development of domestic products, it has been endless. As a young China makeup brand, Hua Xizi hopes to tell the story of China and inherit the beauty of the East.

Just a few words, can’t reply one by one.

In the future, we will continue to share with you what the brand is doing, so that everyone can understand Hua Xizi in more forms.

Down-to-earth, steady and far-reaching; Let a hundred flowers blossom and domestic products become stronger.

After Hua Xizi apologized, some media initiated a vote on "How to treat Hua Xizi’s apology", and 33,000 people participated in the voting before the press release. Among them, 11,000 netizens thought Hua Xizi didn’t respond to the price issue, 5,934 netizens thought it was too late, and nearly 5,648 netizens thought it was more like a brand advertisement.

Source | Observer Network Comprehensive @ Jiupai Finance, previously reported

Original title: "Huaxi Zidai Factory was exposed to Japanese capital? The factory admits: but … "

Read the original text

Fashion Intelligence ｜ Rolex’s market share exceeds 30%, and Belle Fashion went to Hong Kong for IPO.

Rolex’s market share exceeds 30%

1.24 million watches, 10.1 billion Swiss francs in revenue, Rolex handed over the best performance in history last year.

Morgan Stanley and LuxeConsult, a Swiss consulting firm, recently released an annual report on the watch industry, showing that Rolex, the king of watches, achieved a revenue of 10.1 billion Swiss francs last year, breaking through the 10 billion mark for the first time, accounting for slightly more than 30% of the retail market share. Cartier, owned by Richemont Group, and Omega, owned by Swatch Group, occupy the second and third places in the ranking with 3.1 billion Swiss francs and 2.6 billion Swiss francs respectively.

In this report, analysts said that Rolex’s sales "exceed the combined sales of Cartier, Omega, Audemars Piguet, Patek Philippe and Richard Mille".

At present, independent brands occupy a dominant position in the watch industry, while the share of listed groups is limited. According to Morgan Stanley’s data, affected by Rolex’s dominance, the market shares of Swatch, LVMH and Richemont all declined in different degrees in 2023, and currently account for 19.4%, 18.7% and 5.8% of the total retail sales respectively.

Luxury giants are also continuing to increase their watch business. In February last year, LVMH announced that it would restart the Swiss watch brand Daniel Roth to operate as an independent brand. At the beginning of this year, the group reorganized its watch and jewelry department and appointed Frederic Arnault, the fourth son of Bernard Arnault, the head of the group, as the department leader.

7 years after delisting, Belle Fashion went to Hong Kong for IPO.

Seven years after privatization and delisting, the largest fashion shoe company in China has returned to the capital market.

Recently, Belle Fashion Group officially submitted its listing application on the Hong Kong Stock Exchange. According to the prospectus, in the nine months ended November 30, 2023, Belle Fashion achieved revenue of 16.1 billion yuan, with a net profit margin of 12.8%, which was the highest level during the track record period.

Belle Fashion is the largest fashion footwear company in China at present, with 19 core brands, including women’s shoes, men’s shoes, children’s shoes, clothing and accessories, covering different orientations from mass to high-end and diverse styles. In addition to enriching the brand matrix, Belle Fashion is constantly expanding its sales channels. In the first three quarters of last year, the proportion of brand online channel revenue reached about 28%, while before privatization, this proportion was less than 7%.

It is worth noting that in March, 2022, Belle Fashion submitted the IPO declaration of Hong Kong stocks, but it ended in failure.

The history of Belle Fashion can be traced back to the 1970s, when Deng Yao, a famous shoe designer in Hong Kong, founded Belle International, whose main business includes Belle Fashion related business and sports shoes and clothing retail business. In 2007, Belle International landed on the Hong Kong Stock Exchange. In July 2017, the consortium including Gaochun Capital completed the privatization of Belle International.

After 7 years of precipitation, it is worth paying attention to what possibilities Belle Fashion will have in the future.

Hermes continues to expand its business in Asia

Asia is still the "backbone" of the luxury goods market.

Recently, Hermes is expanding its retail business in the Asian market, opening a new store in Tokyo, Japan, and renovating its old store in Kuala Lumpur, Malaysia. Up to now, Hermes has about 40 stores in Japan and 3 stores in Malaysia.

The new Tokyo store is still designed by RDAI, a French architectural design company, and is located in Mabaishan, which is a two-story independent store. Hermes store in The Gardens Mall, Kuala Lumpur, Malaysia, reopened after renovation and expansion ten years after its first opening.

In the background of the cold luxury goods industry, Hermes still recorded brilliant sales performance. Last year, the group’s comprehensive revenue reached 13.4 billion euros, an increase of 21% at a fixed exchange rate. The net profit reached 4.3 billion euros, up 28% year-on-year, faster than the three luxury goods groups, namely LVMH, Kaiyun and Lifeng. Among them, the growth rate in Asia reached 19%, while Japan maintained sustained and steady growth, with a year-on-year increase of 26%.

According to the latest luxury market research report jointly released by Bain Consulting and Italian luxury manufacturers’ industry association, the Asian market led the growth pace of luxury market in 2023. Hermes chose to continue to exert its strength in the Asian market, which is precisely because of the consumption vitality in the region.

Miu Miu’s growth rate is bright

In 2023, when the luxury goods industry was striving for stability, MiuMiu came out with a rare growth curve.

On March 7th, the Italian luxury goods group Prada released its financial year 2023 performance report. Thanks to the high market demand for Prada and Miu Miu, its net revenue increased by 13% year-on-year to 4.7 billion euros, and its retail sales increased by 17% year-on-year to 4.2 billion euros at a fixed exchange rate.

Among them, the biggest highlight comes from Miu Miu. According to the financial report, its sales revenue in 2023 increased by 58% year-on-year to 649 million euros. This increase is much higher than that of its Italian counterparts Brunello Cucinelli and Dzheniya Group, and that of Miu Miu is nearly twice as high.

Miu Miu’s explosion is inseparable from stylized marketing — — The youthful and lively design attracts the attention of young consumers, and it is also a common way for Miu Miu to show his youthful attitude to choose artists who have just started their careers but have distinctive personal styles to promote their products.

However, the other side of stylization is that it is easily influenced by trends. This makes it difficult for Miu Miu to show its own brand characteristics through explosions and star products. In order to cope with this problem, it recently launched a series of perfumes in cooperation with L ‘Oré al Group, trying to find new growth points in the track of olfactory economy.

French luxury brands will reduce China stores.

Mid-end luxury brands are facing operational difficulties and have to reduce the number of stores.

SMCP Group, the parent company of French brands Sandro, Maje and Claudie Pierlot, recently released its performance report for 2023. The sales increased slightly by 4% to 1.231 billion euros at a fixed exchange rate, and the net profit dropped from 51 million euros in the previous year to 11 million euros.

SMCP said in its financial report that the performance of China market was lower than expected. In the newly disclosed transformation plan, it plans to reduce the sales network in China market by about 15%.

In 2016, China clothing company Shandong Ruyi acquired SMCP. Compared with Coach and Michael Kors, which started earlier and had higher market share, SMCP’s luxury brands entered the China market late and lacked the first Mover advantage. In addition, Shandong Ruyi was caught in a debt crisis and could not promote large-scale brand expansion. SMCP broke up with Shandong Ruyi in 2022.

When the economic environment is full of uncertainty, the middle class, consumption power and demand targeted by luxury brands also decline accordingly. To make matters worse, the main categories of Sandro and Maje are popular clothes that lack value preservation and recognition, and they are the first to be "abandoned".

(Image from various brands of Weibo)

Take stock of the top ten popular ski resorts in China

　　Recently, the temperature has dropped all over the country, and the snow and ice movement in various places has reached the hottest moment. In the hottest skiing season, Xinjiang has become a "new favorite": Chengdu, Xi ‘an and Beijing are the primary tourist destinations, and the snow field is expected to have more than one million passengers. Counting the top ten popular ski resorts in China, which one do you like best?

Yabuli ski resort

　　Yabuli Ski Resort in Harbin, Heilongjiang Province is located in Yabuli Ski Resort on the "Golden Latitude Belt" of skiing at 45 degrees north latitude, and is known as "the birthplace of mass skiing". There are 56 ski trails with a maximum drop of 912 meters, a total length of more than 100 kilometers and a snow-making area of 225 hectares, which can accommodate 15,000 skiers and meet the skiing needs of beginners and advanced players at the same time.

Wanlong Ski Area

　　The Chongli Wanlong Ski Resort in Zhangjiakou, Hebei Province enjoys a unique natural snowfall, with more than 32 high-quality snow trails and the highest vertical drop of 1740 feet. With the all-weather snow-making technology, it has created a veritable "powder snow paradise".

songhua lake ski resort

　　Jilin Songhua Lake Ski Resort has a total length of 41 kilometers of high-quality ski trails, which is the largest ski resort in China, with a ski area of 175 hectares, which can satisfy 10,000 skiers at the same time.

Southshan Skiing Park

　　Beijing Miyun Nanshan Ski Resort has 26 kinds of ski trails, including junior high-level ski trails suitable for beginners to improve their skills, and professional ski trails that allow skiers to show their skills. The reception capacity of day and night skiing reaches more than 10,000 people.

Hongsongwang ski resort

　　Hongsongwang Ski Resort in Changbai Mountain, Jilin Province. Changbai Mountain Range is the first ski resort in China. Together with European Alps and North American Rockies, it is the world’s three major ski resorts and ice and snow tourist destinations featuring powdery snow.

Zhegushan ski resort

　　Partridge Mountain Ski Resort in Lixian County, Sichuan Province is the highest ski resort in Sichuan, and it is also the "closest ski resort to the sky".

Taiziling ski resort

　　Taiziling Ski Resort in Aba Prefecture, Sichuan Province has 3 primary skiing, 3 intermediate slides, 2 advanced slides and 3 snow slides, with a total length of 4.2 kilometers. At present, it is the longest middle and senior standard ski run in the west and the most professional ski resort in the southwest.

Jiangjunshan ski resort

　　Jiangjunshan Ski Resort in Altay, Xinjiang is an alpine skiing training base in China and the autonomous region, the best skiing tourist destination in the autonomous region, and the only ski resort in Xinjiang with two ski trails certified by the International Snow Federation.

Shennongjia ski resort

　　Hubei Shennongjia International Ski Resort has 13 slides with a maximum drop of 210 meters. The ski resort is divided into practice area, primary road, intermediate road and advanced road, as well as single board park and snowmobile park.

Qixingling ski resort

　　Qixingling Ski Resort in Yichun, Jiangxi Province, as the first wild alpine ski resort in Jiangxi Province, has an altitude of about 1,500 meters and a core ski area of 20,000 square meters, which can accommodate about 4,000 people skiing at the same time.

　　(Pictures and videos are according to Xinhua News Agency, CCTV News, Beijing Daily, China Jilin Net, Dahe Net, Northeast Net, Hubei Provincial Sports Bureau, Jiangxi Provincial Cultural Tourism Department, etc.)