China News Service, March 21. According to the website of the Ministry of Communications, the Ministry of Communications and the Ministry of Public Security recently jointly issued a notice on effectively doing a good job in background verification and supervision of taxi drivers. The notice requires that the public security organs should check the changes in the background information of licensed drivers every quarter, and report the relevant information to the taxi administrative department in a timely manner for drivers who have been found to have traffic-related crimes, dangerous driving criminal records, drug use records, and driving records after drinking alcohol. According to relevant regulations, the taxi administrative department shall revoke the relevant driver’s qualification certificate and make an announcement to void it.

　　The notice clarifies the verification content and process. According to Article 11 of the "Regulations on the Administration of the Qualifications of Taxi Drivers" (Order No. 63 of 2016 of the Ministry of Transport), drivers who apply for taxi services shall provide relevant certificates or commitment materials to the municipal taxi administrative department (hereinafter referred to as the taxi administrative department) in the district where the service is located.

　　The taxi administrative department at the place where the service is located shall provide the applicant’s proof or commitment materials to the public security organ at the same level. The public security organ at the same level shall conduct background verification on the proof or commitment materials provided by the applicant, and shall report the background verification results to the taxi administrative department within 10 working days, and the taxi administrative department shall inform the applicant in a timely manner. If the applicant has any objection to the verification result, he may apply to the taxi administrative department at the place where the service is located for another verification. The public security organ at the same level shall accept the application for review and provide the review results.

　　According to the relevant provisions of the Ministry of Transport Order No. 63 of 2016, for drivers who meet the requirements after background verification, the taxi administrative department where the service is located shall arrange the examination in a timely manner and issue a qualification certificate to the driver who passes the examination.

　　Notice requirements to strengthen supervision during and after the event. Local taxi administrative departments shall provide the information of licensed taxi drivers to the public security organs at the same level. The public security organs shall check the changes in the background information of licensed drivers every quarter. Drivers who have been found to have traffic-related crimes, dangerous driving criminal records, drug use records, driving records after drinking alcohol, violent criminal records, and 12-point records in the last 3 consecutive scoring periods shall promptly feed back relevant information to the taxi administrative department. According to Article 39 of Decree No. 63 of 2016 of the Ministry of Transport, the relevant driver qualification certificates shall be revoked by the taxi administrative department, and the announcement shall be invalid. Information on relevant traffic violations and liability accidents shall be recorded in the annual service quality evaluation files of enterprises and drivers.

　　Notice requirements, strengthen the coordination and cooperation of departments. Local taxi administrative departments should actively innovate service methods, strengthen the construction of relevant information systems for taxi drivers, encourage the implementation of online registration and online verification with public security organs, "let the driver run less errands and let the data run more", and reduce the driver’s time cost and economic cost. Local taxi administrative departments and public security organs should, under the premise of ensuring safety, promote the relevant information systems of taxi drivers and the population information of public security organs, information on vehicle drivers’ illegal records, and information on violent crimes to achieve connectivity and sharing, promote the realization of online real-time verification of information, strengthen supervision during and after the event, improve the quality of the workforce, improve service quality and level, and protect the safety and legitimate rights and interests of passengers.

"Tencent is losing its product capabilities and entrepreneurial spirit, and becoming an investment company…" These days, an article signed "Pan Chaos" and titled "Tencent has no dreams" has been very popular on the Internet. The article said that "this nearly 20-year-old company (referring to Tencent) is becoming utilitarian and short-sighted, and his strength is no longer product business, but investment in financial technology"; and analyzed some of Tencent’s less successful products and more successful investment cases in recent years, and came to the conclusion that "Tencent has no dreams".

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The criticism was directed at Tencent, one of China’s leading Internet companies, so after the article was published, it quickly spread across the Internet and the venture capital community. The story that followed was even more twists and turns: first there was a response from Tencent President Martin Lau, and then there was a response from Tencent CEO Pony Ma: "Look, it’s good to have criticism…" But when everyone was discussing whether Pony Ma’s response could explain the problem, Zhang Jun, Tencent’s public relations director, clarified that "Pony Ma’s response" was fake and was the result of PS (photo processing).

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Zhang Jun clarified in Moments that Ma Ma’s response was PS

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This clarification did not reduce the popularity of "Tencent has no dreams", because ordinary users who use WeChat and QQ to play "Honor of Kings" and "Jump" are still interested in exploring the answer to the question "Does Tencent have a dream". So, does Tencent have a dream?

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The industry applauds the open attitude

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Judging from the evaluation information of Tencent insiders, although they do not agree with the whole of "Tencent No Dream", they generally adopt an inclusive attitude. For example, the discussion between Lau Chiping and Zhang Jun on WeChat Moments shows that Lau Chiping believes that "Tencent is a bigger organization and ecosystem than the author imagined… [The article] simplifies Tencent into a product gain and loss, a strategic deployment, and a person’s will. It is too narrow… The title and conclusion are distorted because they are trying to catch the eye." But he also made it clear: "But there are still some unique insights that can be used as reference and supervision." Zhang Jun said: "We listen to the voices of the outside world, absorb them, and transform them into stronger action forces."

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Dialogue between Martin Lau and Zhang Jun at Moments

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Zhang Jun’s attitude towards "Tencent has no dreams"

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Industry observers also feel that "Tencent No Dreams", although flawed and the conclusion may be questionable, is a "work of conscience". Ma Qiji, former senior vice-president of Nielsen Internet Research and a research fellow at Peking University’s New Media Marketing and Communication Center, commented: "This is a good article [referring to’Tencent No Dreams’]. Although the argument method and logic are slightly flawed, it is still done with all its heart. It is essentially a commentary on Tencent’s strategic goals, path selection and organizational system, not’dream theory ‘." It’s just that he feels that "unless there is a very deep understanding, research, analysis and research on this kind of topic, it is difficult to have a real understanding and judgment of Tencent’s real behavioral starting point and consideration, let alone an effective and incisive discussion."

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Many Internet practitioners believe that "Tencent has no dreams" is heating up online, but Tencent’s various dissemination channels, including WeChat, QQ, etc., have not "blocked" this article, at least indicating that Tencent is a company willing to listen to different voices, and should be praised for this attitude.

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"The problem with many internet companies is that they are not open enough. Whether they are start-ups or industry leaders, they always think that they are standing on the high ground of innovation and are held in the palm of the hands of the crowd, so they cannot listen to criticism. Once someone criticizes, in addition to directly refuting or trying to’block ‘, sometimes they will use’water army’ to whitewash themselves. This approach should be praised for Tencent’s tolerant attitude. This also reminds other internet companies that they should have the heart to listen to different voices, and if there is no change, they should be encouraged, so as to make progress." Internet observer Tang Zhao said.

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From corporate dreams to connectivity tools

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As of press time, Tencent officials, including Pony Ma, have not made any further comments on "Tencent has no dream". However, the industry believes that from the recent layout of Tencent, it has actually responded with actions: launching "explosive" products or services is no longer its focus, and using Tencent’s existing resources and capabilities to connect all walks of life and achieve upgrades in all walks of life may be one of Tencent’s "dreams".

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At the recent Digital China Construction Summit, Pony Ma summarized what Tencent is and will be doing in four numbers in his speech: "One goal" is to be a good assistant. "We hope to do something and not do something – not to enter all walks of life and replace it; but to become a’digital assistant ‘in all walks of life." Three things "means that Tencent will focus on connecting, making tools and doing ecology." Five areas "refers to the scope of Tencent’s efforts, including people’s livelihood and government affairs, living consumption, production services, life and health, and ecological protection. Finally, there are the "seven tools" that Tencent provides to all walks of life: WeChat official account, WeChat Mini Program, mobile payment, social advertising, WeCom, big data cloud computing artificial intelligence, and Tencent’s security capabilities.

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Ma Qiji believes that even a big company like Tencent does not need to talk about "dreams": "Not every company has or needs a dream. The’Tencent dream ‘is a good but unrealistic wish, and it has been crooked from the beginning, so the discussion [of’Tencent has no dream’] has become trivial." He personally believes that "Tencent is a good leader by connecting and empowering, building the belief and imagination of the future, and establishing resource allocation and public input." He also added: "I personally like Tencent’s recent formulation of’technology for good ‘, so my dream is: Tencent can help everyone strive to get close to it (technology for good)!"

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How many people can the "connection tool" realize their dreams?

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In fact, the reason why there is the question or discussion of "Tencent has a dream" is not unrelated to the development of Tencent in recent years. From the perspective of specific products, since the launch of "popular" WeChat, Tencent is not without innovation, but many products that are popular in the market are closely linked to WeChat, including WeChat red envelopes, WeChat Pay, WeChat official account, WeChat Mini Program, but the outside world regards them all as "WeChat", rather than new achievements. At the same time, Tencent’s investment has been "fruitful", and the listing of invested companies such as ZhongAn Insurance, Sogou, China Literature, and Yixin Group has brought tens of billions of dollars to Tencent.

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In comparison, Tencent’s achievements as a tool to connect other industries seem less obvious; or even if the connection is successful and produces results, many people do not know that they are related to Tencent. However, a little review of some of Tencent’s recent "connection" achievements reveals a lot of surprises.

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For example, Tencent recently entered into a strategic partnership with the World Wildlife Fund (WWF) to launch digital conservation efforts. In Shenzhen Bay, after a user’s mobile phone QQ scans the sculpture in front of them, several white dolphins will jump up from the "water" and swim around. It turns out that this is a "digital landmark" project explored by the two sides. In the future, when people walk, bike or sightseeing along the coast of Shenzhen Bay, they can pass by more similar magical sculptures or devices. Open the mobile phone QQ to "scan", and dolphins will play to their heart’s content, or birds will circle and pitch on the screen. More importantly, people can also learn about these beautiful creatures: "There are only about 2,000 Chinese white dolphins left in China, living in the Pearl River estuary; the black-faced spoonbill is a bird in Shenzhen, and the population is extremely rare; they are all state-level protected animals and the aborigines of Shenzhen Bay…" WWF related people believe that such "digital landmarks" not only belong to Shenzhen, but also belong to the world. Through the exploration with Tencent, more cities and regions can have their own "digital landmarks", allowing people to feel the wonder and beauty of nature more strongly, and arousing the public’s awareness of protecting the ocean and caring for endangered animals. This case may make many nature conservationists "dream come true".

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There is also the "digital classroom" created by WWF and Tencent, which may fulfill the dream of many ecological rangers. It turns out that there are more than 370,000 ecological rangers in China, who are the most basic guardians and main force of national parks, cruising day after day to eliminate fire pests and stop poaching. However, due to the dispersion of personnel and the lack of training teachers, how to better train these rangers has become a problem. The "digital classroom" will introduce WWF’s rich and high-quality content to provide online training courses for ecological rangers and other practitioners, including relevant laws and regulations, wildlife identification, wild survival knowledge, etc., so that they have more professional knowledge and skills, and have more safety when walking in the forest.

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In fact, after the spread of "Tencent No Dream" exceeded 1 million, Pan Chaos also sent a paragraph in his circle of friends: "Tencent has no dream, Tencent has achieved the dream of many people…" A Tencent grassroots employee sent reporters his thoughts after watching "Tencent No Dream": "Tencent will never be perfect, but fortunately it has been evolving – because there are many young people chasing dreams here, and it is also becoming the dream of young people."

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Pan’s Confession in Moments

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Perhaps it is more practical for more people to realize their dreams with the help of technology than whether a company has a dream.

The national automobile brand Hongqi is a household name. From annual sales of less than 5,000 vehicles to production and sales of more than 300,000 vehicles, from single models to diversified models… In recent years, under the background of the transformation and upgrading of the global automobile industry, China FAW Group Co., Ltd. has stimulated corporate vitality and improved operational efficiency through reform, and strived to explore the road of high-quality development. At present, FAW is comprehensively promoting electrification, intelligence, and networking to expand the upward development space of national automobile brands.

Reform, let FAW "reborn"

Yang Yongxiu is a senior technician at FAW Research and Development Institute. In recent years, FAW’s accelerated reform has given him more room to display his talents. He is mainly responsible for the numerical control processing of core precision components such as high-end engines, gearboxes and chassis independently developed by Hongqi. He has overcome more than 130 technical problems and saved and created more than 12 million yuan of value for the group company. At the age of 35, he has won honors such as National Technical Expert and National May Day Labor Medal.

"There are still many young people like me in FAW, and the stage will be as big as everyone’s dreams, technology and ability," he said.

In 2017, FAW carried out the "four-energy" reform, that is, "cadres can go up and down, employees can come in and out, salaries can be high and low, and institutions can increase and decrease". The whole group competed for recruitment, senior managers competed for positions, the average age dropped by 3 years, and the proportion of young cadres increased by 13.3%. At the same time, the market-oriented reorganization of the organization formed a more professional, fine and flat structure and operation model, and the group headquarters was directly responsible for the operation of the Hongqi brand.

The reform has stimulated a sense of competition, and FAW employees have become more motivated. It has become a general consensus to compete for jobs, and the sense of crisis has also increased.

In September 2020, FAW implemented a more systematic reform of the new three-year term of office for senior managers, setting goals first and then taking up positions, and encouraging challenges to high goals. The matching of senior managers was completed within a week, and the average age of cadres was reduced by 1.4 years. According to the plan, these reform measures will continue during the "14th Five-Year Plan" period to continuously stimulate employees’ enthusiasm for entrepreneurship.

Innovation makes FAW "alive and kicking"

Since the establishment of the Hongqi brand in 1958, it has become one of the representatives of China’s national automobile high-end brands, but its marketization road has not been smooth sailing. Since 2018, Hongqi has highlighted the brand core and created four product series of L, S, H and Q. Sales will exceed 300,000 in 2021, an increase of more than 60 times in 4 years.

Behind this, it is inseparable from the corporate culture that places more and more emphasis on innovation. After the launch of Hongqi H9, H9 + models were also launched one after another. H9 + models are divided into Dunhuang version, Magnolia version and Forbidden City version. These models are combined with traditional Chinese culture, which is refreshing.

In the first two months of this year, the red brand sold 63,800 units, an increase of 40% year-on-year.

The sales volume of the Hongqi brand depends not only on marketing, but also on the support of technology. FAW’s total R & D investment in 2021 was 21.42 billion yuan, an increase of 3.9% year-on-year, accounting for 3% of revenue; it achieved 63 key core technology breakthroughs and completed 4,757 patent applications. Among them, the first domestic V-shaped 8-cylinder direct injection supercharged (referred to as "V8TD") engine independently designed by FAW completed trial production last year, reaching the leading level of similar models in the world. The domestic snowmobile jointly developed by FAW and China Aerospace Science and Technology Corporation Co., Ltd. broke the long-term monopoly of foreign brands on the Chinese snowmobile market.

FAW Party Secretary and Chairperson Xu Liuping said that each Red Flag product must have more than two global premiere technologies, otherwise it will not pass the product definition.

Open up, let FAW "walk in the forefront"

Xu Liuping said that Hongqi aims to become the leading independent high-end passenger car brand, and FAW is committed to building a global brand influence.

At the end of February, FAW and BYD joint venture power battery project officially started, the total investment of the project 13.50 billion yuan, all reached the post-production will meet the 1 million sets of electric vehicles supporting demand, to achieve output value of more than 20 billion yuan. Wang Chuanfu, chairperson and president of BYD joint stock company, said that BYD will strengthen cooperation with FAW, accelerate the transformation of green technology to the nearest landing, and contribute to making the national car brand bigger and stronger.

Cooperation can lead to win-win results. FAW has carried out in-depth cooperation with Huawei and other enterprises, as well as universities such as Tsinghua University and Jilin University, to expand the development space of enterprises.

The interaction between government and enterprises is also accelerating FAW’s "walking in the forefront". Jilin Province, Changchun City, FAW and State Grid jointly launched the "Banner E Spring City, Green Jilin" project, and strive to use 3 years to put 34,000 new energy taxis, online car-hailing, official vehicles, to achieve "battery bank" circulation battery 41,000 block scale, and 120 new operation and exchange power stations.

According to the plan, by 2025 FAW will achieve sales of more than 6 million vehicles, an average annual growth of about 8%; operating income of more than one trillion yuan, an average annual growth of 8% to 9%.

Xinhua News Agency, Changchun, March 20

1905 movie network news Recently, the fifth phase of the Jackie Chan Film Project A held a venture capital roadshow at the Jackie Chan Film and Television Media College of Wuhan Institute of Design and Engineering. This venture capital roadshow invited the fifth phase of the Plan A venture capital jury, teachers, directors, directors, shooting workshop instructors, directors, and others to attend the event.

Explore new forms of online cloud and set sail, Wuhan restarts venture capital roadshow

On November 16th, the opening ceremony and mentor class of the fifth phase of Jackie Chan Film Project A was held online. This instructor class focused on "virtual production" and brought immersive "virtual technology" teaching to the students. The instructors gave in-depth explanations on the practical experience of virtual technology, and discussed with the students how to balance the relationship between technology and art in the era of rapid technological development. They not only used the combination of new forms and new technologies to broaden the industry vision and expand thinking for young filmmakers, but also looked forward to the future of film through the teaching of digital technology.

On December 5, the fifth phase of Jackie Chan Film Project A’s venture capital meeting was successfully held at the academy. Tu Qing, director of the Wuhan Institute of Design and Engineering, mentioned, "The gathering of young filmmakers in Wuhan, the city of heroes, will also make this warm winter warmer."

In the project solicitation, the fifth phase of Jackie Chan Film Plan A received applications from more than 200 teams/individuals, with a total of more than 400 projects. After a rigorous review by the venture capital jury composed of Jia Zhijie, Tian Yusheng, and Yao Tingting, 8 groups of projects were finally selected to be shortlisted for the venture capital section of this Jackie Chan Film Plan A, namely "Love Before the World Collapses", "The Man Who Steals Fire", "The Strongest on the Surface", "Fire in a Urgent Situation", "Hunting Bureau", "Tiger in the Mountain" and "Hero".

During the venture capital session, the students showered their enthusiasm for the project, sharing and explaining their projects in multiple dimensions. The on-site guest judges also provided the most valuable experience from the market and drama level. The mentors and judges who were unable to come to the scene also provided professional advice to our young filmmakers through online comments.

Support young filmmakers, build dreams, and join forces online and offline

In order to deeply explore how young filmmakers can create excellent film projects, the industry mentors had a profound exchange and communication on the venture capital projects of young filmmakers. Not only did they give more suggestions on the creative path of young filmmakers in terms of story and play structure and genre, but they also analyzed the industry form from the perspective of the market and explored the future direction of film. The collision of ideas between mentors and students provides more guidance and possibilities for young filmmakers to create in the future. The collision is wonderful, the genre is diverse, but everyone’s purpose is the same – "everything has cracks, because that is where the light comes in" – and for young filmmakers, film is the light that illuminates the future.

No matter whether it is the judges of the project jury or the instructors of the "Short Film Shooting Workshop", they all mentioned that they have seen the innovation of young filmmakers in genres and plays in this shortlisted project. Not only are the themes more novel and the ideas more bold, but also the spiritual outlook is very promising.

At the end of the venture capital roadshow, Jackie Chan also came to the event and sent the most sincere encouragement and blessings to the young filmmakers. He mentioned: "Nowadays, the minds of young people are progressive, and some of their methods of shooting movies are beyond my imagination. I have also learned a lot from them."

The special project fund for film public welfare projects officially established by the Beijing Jackie Chan Charity Foundation Filmmakers Charity Special Project Fund in 2015 consists of two parts: "Young Filmmakers Project Support Program" and "New Filmmakers Training Program". It aims to provide limited support funds for small and medium-cost film production, provide professional training and film incubation for first-class top talents in the film industry, and care for reality through the power of film.

Since its launch in 2016, it has successfully carried out three special training camps with the themes of "Conducting Sino-US Film Exchanges", "Entering Film Special Effects Production", and "Exploring the Mysteries of Action Movies". In 2021, Chinese filmmakers will overcome the difficulties together and ride the wind and waves in the face of changes and challenges. The Jackie Chan Film Plan A also hopes to look forward to the bright future of young filmmakers through the fifth phase "The future has come, the unknown is known, and the unseen is seen", and build an exchange and learning platform for young filmmakers.

In the future, the Jackie Chan Film Plan A will continue to provide more opportunities and possibilities for young filmmakers, continuously injecting fresh blood and inexhaustible motivation into the industry, and helping the Chinese film industry to thrive.

1905 movie network feature From 2012 to 2022, the director made five films in ten years. He was the most satisfied, the most frustrated, and the most unforgettable collaboration. Jackie Chan’s "hard work" in the action drama made him feel the power of love, which is still unforgettable.

In the same decade, movie fan Jin Long Zhe made an important life decision – to give up his stable job in his hometown and go to Beijing alone. He lived in a 5-square-meter rental house, and his material life was not rich, but as long as he stepped into the theater and saw the changes on the screen, the spiritual world would have its own light.

Since October 5th, the movie channel has launched a special series of documentary reports on "This Decade, Our Film Life". In this episode, we will talk to director Ding Sheng and fan Jin Longzhe to listen to their understanding and love for movies.

Director Ding Sheng

I have made five films in ten years, and I am most satisfied with "Rescue Mr. Wu".

When he was young, Ding Sheng cherished every opportunity to watch movies. He was especially obsessed with action movies and the impact they brought, which he remembered very clearly. Later, from watching movies to making movies, he has been deeply involved in the field of police and bandit action movies in the past ten years.

Of the five films he has made, "Police Story 2013" and "Rescue Mr. Wu" all belong to this genre. He said that he is unwilling to do repeated things, and he likes challenges every time he creates. Challenge success, not arrogant or impatient. Challenge failure, face it calmly.

Before the filming of "Free Mr. Wu" began, Ding Sheng made a bold decision – not to draw split scenes throughout the film, leaving enough room for the main actors to play. The "famous scene" of the film, when the kidnappers forced him to say key information, the kidnappers used wires to strangle him and made him blush, which was the result of the actors improvising.

The script originally did not intend to use wires as props. During the rehearsal, Andy Lau took the initiative to suggest that he was not emotional enough, and it was best to find something to restrain him and keep his face red. So the prop team found a wire at the scene.

The actor who was originally responsible for the scene with Andy Lau was a huge fan of his. Suddenly he was asked to restrain his idol with a wire, but he couldn’t do it. In the first scene of the scene, Andy Lau was very dissatisfied. Later, another actor finally "hit him hard". In a 10-minute long shot, there were two or three minutes in the middle, and Andy Lau’s neck was strangled all the time, the arteries on both sides were stuck, and his face was suddenly swollen.

There was a close-up machine at the scene, which could capture the bloodshot in his eyes. At that time, Ding Sheng wanted to stop, but he was reluctant to give up the actor’s emotions. He still remembered that Andy Lau’s bodyguards kept filming him from behind, meaning, "The director is almost done, so you can’t play like this."

"Free Mr. Wu" has gathered a lot of effort from Ding Sheng, who wrote and directed it himself and was responsible for editing the whole process. Later, the film performed well at major award ceremonies, and Ding Sheng won the Golden Rooster Award for "Best Editing" for this film. "Free Mr. Wu" has become his most satisfactory creation in the past ten years.

Instead, "The True Colors of Heroes 2018," a work he considered to be less successful, was launched without much thought. During filming, he could already feel that "this movie will leave a lot of regrets. I may not have any attempts to remake it in the next ten years."

It has been three years since the release of the last work "SWAT Team", and Ding Sheng has not made a movie for a long time. According to him, the script of "Tough Guy 3" has been written, waiting for an opportunity to start.

In the days when he was not filming, Ding Sheng was a film teacher and was in charge of teaching the second grade at his alma mater, Beijing Film Academy. He always liked to emphasize to his students that making movies requires talent first, and more important than talent is hard work, and more important than hard work is love.

He often uses Jackie Chan as a positive example to share. In "Police Story 2013," Jackie Chan is trapped in a closed cabin and is tied to a large iron chair by the gangster he plays. At that time, the crew thought of many ways to tie it. After seeking fresh effects, Jackie Chan finally suggested that he tie him to the chair with thick wire, and he tried to twist his wrist to break free.

During the filming process, Jackie Chan twisted his wrist again and again, and twisted his skin. The assistant director cried directly from the side. But Jackie Chan still insisted on continuing to shoot in order to keep the scene, rather than dealing with the injury immediately. Ding Sheng has worked with Jackie Chan on three films before and after. He commented that the other party is a gift from God to the film, and Jackie Chan’s love for movies is sincere from the heart.

Looking back on the past ten years, he summed up that "more regrets than successes", but this did not prevent him from persisting in film. He insisted on continuing to challenge problems in this field and enjoying the creative process. Ding Sheng will persevere in his film path and welcome the next decade.

Fan Jin Long Zhe

Collect thousands of ticket stubs, watch movies above all else

Before you know it, Jin Longzhe has been in Beijing for almost a decade. He has never been to the Forbidden City or the Great Wall, but he is as familiar with the China Film Archive as he is at home. As a regular visitor to the film archive, he is also a freelance writer. He likes to stay in the cinema, and his stay is a whole day. At most, he can watch six or seven movies a day, and the annual reading volume is at least 400 +.

About ten years ago, Jin Longzhe was a "young boy" who had just graduated from college. He was introduced to a stable job in his hometown with a good salary, as if it was tailor-made for him. But at the last moment of joining the job, he rejected HR on the grounds that he "wanted to do a job related to movies."

Then he set off on his own journey to the north, interviewing for 40 jobs and finding 20 houses. For a long time, he lived in a room of only 5 square meters. "I don’t feel unhappy. Every time I come back to the small room after watching a movie from the library, I am very happy." Jin Long Zhe said that he likes the moment when the lights are dim and the screen is on. Movies are part of his life.

In order to watch movies, he can choose to leave his hometown, spend most of his work savings on running film festivals and buying movie tickets, and even give up his job for it at one point. Jin Long Zhe mentioned that when he encounters a film festival with a long cycle, if there is a conflict with his working hours, he will choose to quit his job and go to the film festival without hesitation, and then re-employment later.

This kind of behavior will be considered incomprehensible by many people, but in his opinion, if you miss the screening of the film, you may not have the opportunity to see the film again on the big screen for five or ten years. He always felt that "watching movies is above all else."

On one trip to Hong Kong, he only stayed for 17 hours in total. But on the way, he clocked in seven or eight movie locations. He remembered a scene shot at the Canary Restaurant, so he went to the Canary Restaurant for a meal. "To be able to find the filming location of my favorite movie, to be able to stand there in person, it was like walking into a movie. It was a very wonderful, magical and happy thing," Jin Long Zhe recalled. "Maybe this is the state of daydreaming!"

After watching the movie, Jin Long Zhe has the habit of collecting ticket stubs.

Since the beginning, thousands of movie tickets have been saved. The ticket stub is of great significance to him. "It’s a record of watching the movie, and it’s a precious thing. Because it’s basically not reproducible, you can’t copy the ticket stub of the movie on the same day and the same show."

He loved movies for ten years and read countless movies. Jin Long Zhe said bluntly, if he knew himself ten years ago, "I believe he would feel very gratified, let movies occupy the vast majority of his life, and feel very fulfilled and rich…"

As the large-screen version of the P8, Huawei today announced the retail price of the P8Max market, the high-end version (3 + 64G) is 3788 yuan, and it will be officially launched on June 26. It is reported that according to Huawei’s end point strategic plan, it is hoped that the P8 and P8Max will continue the previous hot sales of P7 and Mate7, and open up the high-end market.

A number of market research institutions, including IDC, GFK, Kantar Worldpanel ComTech, and others, have released similar surveys, showing that most consumers prioritize screen size, and the larger the screen size, the better. GfK forecasts that large-screen smartphones above 5.1 inches will become the mainstream in the market in 2015, surpassing 4- to 4.5-inch phones for the first time. IDC’s forecast is more aggressive, saying that phablets with screens above 5.5 inches will become the mainstream in the future, accounting for 36% of all smartphones in 2015.

Therefore, large-screen mobile phones have become a new battlefield for major manufacturers to compete. Huawei’s 2015 global smartphone shipment target is 100 million, focusing on increasing the proportion of mid-to-high-end machines to more than 30%. In the current situation, it is not small for Huawei.

Challenge the limits of high-end large screens

With the popularity of Huawei P7 and Mate7, Huawei mobile phones have grown rapidly in the domestic market in the past year. According to Huawei’s official statistics, the global shipment of P7 has exceeded 7 million, and the global shipment of Huawei Mate7 has exceeded 5 million, of which about 70% comes from the contribution of the Chinese market.

In this regard, Zhu Ping, president of Huawei’s consumer business in China, said in an exclusive interview with Tencent Technology: "The first half of the year in China has been well completed. In addition to the continued popularity of classic products such as Huawei Mate 7, Huawei P8 and P8Max have launched attacks as new high-end product portfolios this year. In particular, the P8Max, a 6.8-inch fashion business large-screen phone, will strive to open up new market segments in the high-end field."

According to him, Huawei’s global shipments of mobile phones in the first half of the year were 50 million. Among them, the Chinese market accounted for 50%, and sales increased by 40% year-on-year.

From a product perspective, P8Max is similar to Mate7, but the target group is different from Mate7. At present, the domestic high-end mobile phone field is still occupied by 4.7 to 6-inch screen phones, Mate7 (6-inch screen) is still within the acceptable large screen range, while P8Max is a larger crossover mobile phone. The 6.8-inch screen is a new attempt in the mid-to-high-end market.

Although this screen size is indeed beyond the norm, and even the line between it and the small-sized tablet is increasingly blurred, Zhu Ping said, "This product is indeed made because the research found that many mid- to high-end users have demand for this type of product."

"Just as the BMW X6 is a crossover product between an SUV and a sedan, the P8 Max is a segment product between a mobile phone and a tablet, focusing on high-end business people," said Yang Zhe, Huawei’s China chief executive, using an analogy to the BMW X6.

At the outset, the Samsung Galaxy Note revolutionized the large-screen market, and countless mobile phone manufacturers launched large-screen products one after another. Now it remains to be seen whether the P8Max can refresh the extra-large screen size.

Strategic transformation of Huawei’s end point

In the face of slowing growth of domestic smartphones, or even the danger of beginning to decline, Huawei’s end point relies on R & D and quality-focused strategy, and has come out of a positive cycle of driving brands with flagship phones and driving sales growth with high-quality models.

"Huawei spends 10 per cent of its annual revenue on R & D and innovation. In 2014, Huawei spent about 39.50 billion-40.50 billion yuan on R & D, an increase of about 28 per cent compared with 2013. In the past 10 years, Huawei’s R & D investment has accumulated to 188 billion yuan," Zhu Ping said.

Previously, some media said that in the past 10 years, Lenovo has invested a total of 4.405 billion US dollars in R & D costs, which is less than Huawei’s R & D expenditure last year. This comparison is enough to illustrate the importance of continued high R & D investment for product quality improvement, especially in Huawei’s self-developed chip Kirin. The continuous maturation of the chip can illustrate this point.

In 2012, Huawei began to transform from a "machine sea strategy" to a "quality-focused strategy". After 2013, Huawei began to cut off the low-end mobile phone business. In mid-2014, Yu Chengdong said again: "Relying solely on operator channels to push ultra-low-end mobile phones in large quantities is doomed to be a road of no return." Huawei P7 and Mate 7 high-end mobile phones were then introduced to the market.

Data show that Huawei’s high-end smartphones accounted for 18% of shipments last year. Among them, Mate 7 has sold more than 5 million units since its launch, and P7 has sold more than 7 million units since its launch.

Zhu Ping revealed to Tencent Technology that in 2015, Huawei continued to focus on high-quality products and broke through the mid- to high-end market, with the goal of increasing the proportion of mid- to high-end machines to more than 30%. This year, more than 20 Huawei service experience halls will be built across the country.

Produced by Sanyan Finance

Author | DorAemon

On November 30, Meituan announced its third quarter 2020 financial results.

According to the financial report, during the reporting period, Meituan achieved revenue of 35.40 billion yuan, an increase of 28.8% year-on-year and an increase of 43.2% month-on-month. Achieved profit of 6.32 billion yuan, an increase of 374.1% year-on-year. Excluding the impact of fair value changes, profit and loss, the company’s adjusted net profit in the third quarter was 2.05 billion yuan, an increase of 5.8% year-on-year.

From a business perspective, Meituan’s catering takeaway business earned 20.69 billion yuan in the third quarter, an increase of 32.8% year-on-year; contributed 770 million yuan in operating profit, an increase of 132.2% year-on-year, and an operating profit margin of about 3.7%;

The revenue growth rate of the store, hotel and tourism business was 4.8%, generating an operating profit of 2.79 billion yuan, an increase of 19.5% year-on-year, and an operating profit margin of 43.0%.

New business and other businesses lost 2.03 billion yuan, an increase of 68.8% year-on-year.

Meituan handed over the third quarter report card, which can be described in four words: steady and steady. This financial report truthfully reflects the operating performance of Meituan company so far, and the overall performance is good.

However, I didn’t expect this financial report to be interpreted differently by various media for no reason. Meituan’s third-quarter results were described as a bit "flashy".

Clear the clouds and see the sun

The problem actually lies in the "change in fair value of investment listed entities RMB 5.80 billion yuan" disclosed in the financial report.

The proceeds were primarily derived from Meituan’s investment in Li Auto.

Previously, Meituan led Li Auto’s $550 million D round of investment, and Li Auto went public in the United States on July 30 this year. In the third quarter, Li Auto rose by more than 30%; and the ideal share price in the fourth quarter has also been performing well.

So some people bluntly said that Meituan’s performance depends entirely on "ideals".

With the media further hype brewing, the news about Meituan’s third-quarter earnings report in the past few days has actually formed a situation of "every Meituan must mention ideals".

Not only that, but various media also focused on the loss of new business in the financial report. Combining the increase in new business losses year-on-year and the profit of investment ideals, it was concluded that "Meituan actually did not perform well, and investment ideals were the’fig leaf ‘for its new business losses".

So much so that there are good people who write this matter into a joke, which is ridiculed by netizens.

But in all fairness, is Meituan really so "unbearable"? Now there is a threshold for the interpretation and analysis of financial reports?

So, what exactly does Meituan’s third-quarter earnings report show?

"Investing" is a normal operation

First of all, Meituan’s investment in Li Auto was successful and profited from it. This is indeed an objective fact.

In fact, contrary to what many media understand, this represents that Meituan has excellent investment vision and strategic thinking in the layout of cutting-edge technologies. Success is natural.

Investment is a normal behavior in business operations, and usually there are two main purposes for this kind of investment. The first is to lay out the layout of your own business ecosystem; the second is to broaden the company’s revenue channels, so as to obtain enough resources to expand your own business.

When a company reaches a certain scale, its business development must pay attention to layout and ecology. But to build a good ecosystem, it is often not covered by its main business.

So Meituan’s investment ideal has reaped profits. Although it seems to be a "cross-border", it is essentially based on Meituan’s long-term value judgment of an industry and supplements its own strategy and business.

New business strategic loss

Another question about Meituan is the loss of new business.

Meituan’s third quarter 2020 financial report shows that the new business and other items achieved revenue of 8.23 billion yuan, but the operating loss was 2.03 billion yuan, an increase of 68.8% year-on-year.

If it is foolish to regard the investment ideal as a "fig leaf", then combining the loss performance of Meituan’s new business with the investment ideal, saying that Meituan has many operational problems is bad.

Although "net profit" and "net loss" are indeed important indicators to measure a company’s performance in a company’s operations, they are not the "only indicator".

In short, a company’s loss doesn’t necessarily mean "the company is going to die".

Meituan’s new business and others mainly include shared bicycles and Meituan’s preferred business launched in July this year, which marks Meituan’s official entry into community group buying.

Wang Xing revealed that Meituan plans to cover more than 1,000 municipalities by the end of the year. And Meituan needs to better integrate resources, provide better products and improve supply chain and logistics.

In addition, Meituan is also responsible for developing various services and products in the entire platform system in order to optimize the user experience.

Sanyan Finance also reported in previous articles that "community group buying" has become a must for major Internet Tech Giants.

So to start a business in a new field, it is necessary to invest huge resources in the early stage. However, the investment is huge, and the return is not immediate.

So it is common for new business to lose money, otherwise how can it be called "new" business?

Furthermore, Meituan’s new business revenue growth just shows the hard power that Meituan has been accumulating "steadily". Because if there is no strong foundation laid by the previous development, how can you invest resources in the new business to seize the market and compete with other Internet Tech Giants?

Therefore, the ideal investment and new business losses not only fail to prove that Meituan "has no martial arts ethics" and relies on Li Auto to cover up the losses, but also prove that Meituan is an Internet company with unique vision and hard power.

Explore old businesses and develop new ones

Putting aside the misreading of Meituan’s financial report, Meituan’s overall performance in the third quarter was still quite good.

In addition to the financial data of Meituan’s various businesses mentioned earlier, let’s take a look at the performance of various business operations.

According to the financial report, Meituan’s annual active merchants reached 6.50 million, and the annual transaction users reached 480 million, showing a steady growth trend; this year, more than 4 million riders have achieved employment and income through the Meituan platform.

In addition, the average daily number of food and beverage takeaway transactions was 34.9 million, an increase of 30.1% year-on-year, and the average value of each food and beverage takeaway business order increased by 4.5% year-on-year.

Combined with the financial data, the transaction volume of food and beverage takeaway business was 152.20 billion yuan, an increase of 36.0% year-on-year; the revenue was 20.70 billion yuan, an increase of 32.8% year-on-year; the operating profit reached 768.5 million yuan.

Store, hotel and tourism revenue 65 billion yuan, an increase of 4.8%; operating profit 2.80 billion yuan, operating profit margin increased by 43.0%.

If we compare Meituan’s new business and old business data, we can see that Meituan has not given up its old business due to the development of new business.

In general, the total amount of resources is limited, and companies tend to allocate resources in a certain proportion. New business will receive more resources, while old business will have less resources to at least maintain the status quo.

That is to say, the underlying logic of this quota is to "explore new business and develop old business". There is nothing wrong with adopting this model for development. After all, new business often represents "unknown", and enterprises need to focus more on "exploration".

But for Meituan, Meituan’s business development is "exploring old business and developing new business".

The so-called exploring old business is actually constantly cultivating existing business with new ideas. After the epidemic, Meituan adopted a more accurate and high-quality marketing plan to upgrade in response to the arrival of the peak order season. This has increased the willingness of catering takeaway merchants to purchase traffic. Therefore, in the financial report, the platform’s third quarter takeaway online marketing service revenue increased by 60.1% year-on-year.

The essence of Meituan’s old business is actually to solve the problem of "food" for users. Like the emergence of takeaway services, it is convenient for users to eat what they want without leaving home.

Meituan did not stop on this basis, but instead asked users to upgrade to "eat better".

The core of this "helping everyone eat better and live better" is also based on the concept of consumption upgrading. Consumers’ dietary needs have become more abundant, and they must have more choices.

In the financial report, the order amount of food and beverage takeaway business increased by 4.5% in the third quarter, which shows that the platform brand merchants have improved; at the same time, the number of newly launched brand merchants in takeaway in the quarter increased by 157%, and consumers have more choices. In the third quarter, the booking business of Meituan Hotel also increased accordingly, and the high-star hotel cooperating with Meituan also increased significantly month-on-month.

At the same time, all kinds of "new tricks" have also been popularized and developed through the Meituan platform, such as escape room. Most merchants choose Meituan, Dianping and other platforms as their main way to acquire customers.

Meituan’s "development" of new business is actually an extension of old business, so it is called "development" of new business.

If "eating" is the core word of Meituan Company, then it can be said that all of Meituan’s business revolves around "eating".

Eat at home, Meituan takeaway; go out to eat, Meituan takes a taxi, Meituan bikes; want to play after eating, Meituan goes to the store…

Meituan’s new business is the same, which is based on the expansion of existing business. Meituan market and Meituan Preferred can be simply understood as the "shopping" service before users "eat".

Internet companies that adhere to "long-termism"

After understanding the underlying logic of Meituan’s business development, it is clear that Meituan is a company that adheres to "long-term doctrine".

Meituan has a clear development plan for what she wants to do and adheres to the long-term approach, which is the core concept of developing new businesses and exploring old ones.

And this development model also allows Meituan, as a platform-level company, to effectively promote the development of the industry. Especially when the entire industry encounters a crisis, such as the 2020 epidemic, Meituan can effectively help the market recover during and after the crisis, and solve the employment problem of a large number of riders.

In taking the "long-term" route, while fulfilling the various responsibilities and obligations of the company, the company needs to continuously invest resources. After all, firm goals are on the one hand, and to achieve goals, we must strive to explore value.

　

This article was first published on the WeChat official account Sanyan Finance. The content of the article is the author’s personal opinion and does not represent the position of Hexun.com. Investors operate accordingly, and please bear the risk.

On January 6th, Hengchi 5 announced the launch of the first OTA upgrade. With the blessing of intelligent technology, Hengchi 5 can achieve a full-area OTA upgrade for the entire vehicle life cycle, making car upgrades as easy as mobile phone upgrades.

It is reported that OTA refers to the over-the-air download system of the car, which upgrades the wireless system through mobile communication technology. Auto OTA refers to the upgrade of in-vehicle applications, multimedia systems, or the underlying system of the vehicle.

The upgrade of Hengchi 5 Automotive OTA includes optimizing sleep wake-up (low temperature vehicle wake-up optimization, power battery intelligent replenishment optimization); optimizing the function of vehicle slow charging mouth cover; optimizing the instrument anti-theft authentication display after the vehicle is powered on; optimizing communication network signals, etc., to improve the user experience.

It is understood that the Hengchi 5 will be pre-sold on July 6, 2022, officially mass-produced on September 16, 2022, and the first batch of vehicles will be delivered on October 29, 2022. It is currently being delivered in more than 20 cities across the country, including Beijing, Shanghai, Guangzhou, Tianjin, and Shenzhen.

On December 30, Hengda Automobile announced that Hengchi 5 is in mass production and has delivered 324 vehicles to users. In addition, in order to save costs, the group is carrying out a series of cost-saving measures, including reducing the overall number of employees, arranging some employees to stop work and rest, and reducing wages for some employees. It will continue to create favorable conditions for the mass production of Hengchi 5 with maximum efforts.

Some people say that Musk is a real-life version of Iron Man, and some people say that he is a Silicon Valley madman. But no matter what you call it, it reflects his bold and crazy business initiatives. Electric supercars, commercial rockets, satellites, solar roofs and underground high-speed trains, and even he will regularly sell flamethrowers… Many things that you can only see in science fiction movies, Musk is attacking everywhere. Especially on April 22, the media reported that the seventh batch of 60 "Starlink" satellites was launched, and the Falcon 9 rocket that carried out the launch mission was the fifth reused "five-handed" rocket.

Don’t be afraid to take September alone, and now Geely is also in the cloud? After Geely built a car with full wings, Li Shufu, who is nearly 60 years old, also began to think about "flying".

On April 26, a "rocket chief engineer" recruitment information from Geely Holding Group’s Time and Space Dao Yu Technology Co., Ltd., attracted great attention from the outside world: the job requirements column showed that the overall work plan of the rocket was looking for.

In fact, Geely wants to fly is not a recent thing.

"A car is just a few sofas and four wheels." This was Li Shufu’s "definition" of a car product twenty years ago. Perhaps in his opinion, a flying car should be able to take off with a pair of wings.

Geely acquired the world’s first flying car company, Terrafugia, in 2017. The company’s product is called Transition. From the perspective of appearance alone, it is more appropriate to call it a small folding-wing aircraft. According to official data, the power combination of the car (or the aircraft?) is a gas-electric hybrid system, which can take two people and can fly at a speed of 322 kilometers per hour in the air. The maximum flight altitude is about 3.048 kilometers, and the maximum endurance in the air can reach 800 kilometers.

However, it is now the end of April 2020, and the outside world has not seen any news of the mass production of this flying car. For this "science fiction" product, it may have been commonplace to skip the ticket. Even if the "flying car" does not arrive on time, Geely still wants to fly higher.

In this regard, Geely’s idea is to deploy low-orbit satellites to provide high-precision positioning services for high-level intelligent driving, in order to comprehensively enhance the user’s intelligent travel experience.

Of course, as people who eat melons, we don’t know if Geely’s satellites can successfully go to the sky within the year. However, from flying cars 3 kilometers in the sky to low-orbit satellites 200 to 2000 kilometers, in the popular words of the moment – Geely and Li Shufu’s goal is the sea of stars. Maybe in the future we will see Geely use its own "heavy rocket" to send its Geely sports car to the sky like Tesla.

If building a car can be highly summarized as "putting wheels on a sofa," then whether building rockets and satellites is to install rocket boosters on communication devices and send them to the sky? It’s definitely not that simple.

First of all, in terms of investment, the two are not on the same level at all.

Regarding the cost of building a car, relevant auto industry observers told Understanding Notes: "For general car companies, not counting those products that use the old platform to counterfeit products of other models, the cost of developing a new model is completely positive, which is about a few hundred million to one billion yuan. In addition, this cost will reduce the marginal cost with the increase of mass production of later models and the increase of" brother "models of the same platform."

Hundreds of millions to billions of yuan, which is already astronomical in the eyes of ordinary people, but when it comes to building rockets and launching satellites, it should not be enough.

According to Musk, "Starlink" will consist of at least 12,000 small satellites.

The technical prowess and billions of dollars spent to send such a large number of satellites into space are behind it. Because SpaceX is still not a publicly traded company, its financial data is not known to the outside world. But according to the company’s early estimates, the cost of building and launching satellites could be as high as $10 billion. From now on, the overall investment may only be much more.

The huge investment required behind "Heaven" is not unclear to Li Shufu, a veteran of the car industry. Under such circumstances, the reason why Geely still chooses the road of "Flying Heaven" is also very simple: the construction of the future intelligent travel network will not simply stay in the construction of the road network. In the highly integrated intelligent space, Geely’s low-orbit satellites will play a very important role.

In this regard, relevant auto industry observers told Understanding Notes: "First of all, Geely is doing this in the context of policies that are encouraging private capital to develop and launch commercial satellites; secondly, as Geely officials said – to a large extent, it is to prepare for high-level intelligent driving in the future." The person analyzed that mature autonomous driving requires the deep integration of high-precision navigation and high-speed communication networks, and the integration of communication is the development trend of the entire industry. "Geely has not only been tossing in the field of car manufacturing, but building an intelligent transportation ecosystem based on vehicle production is its ultimate appeal, so it needs to improve its own layout in the travel industry chain."

According to the "2018-2022 China Commercial Aerospace Industry Deep Research and Investment Prospect Forecast Report" released by CIC Consulting, the global aerospace industry is growing rapidly at a rate of 6% to 7% every year, and the size of our country’s aerospace market will reach 800 billion yuan in 2020.

Policy support, rapid market growth, strategic layout needs, from the perspective of strategic choice, Geely’s plan is logical. However, the wish is perfect if it can be realized, and the process of realizing the wish is "painful", especially at the current stage when Geely’s main business is under pressure.

We have heard the word cold winter in the car market countless times in the past year. Now affected by the pandemic, the market still sees no signs of recovery. In this situation, all car companies are under pressure, and Geely, a leading domestic car company, is also not feeling well.

According to the 2019 financial report released by Geely Automobile Holdings Co., Ltd., Geely Automobile sold 1.3616 million vehicles (including Lynk & Co) last year, and 1.5008 million vehicles in 2018, down 9% year-on-year; total revenue in 2019 was 97.71 billion yuan, down 8.6% year-on-year, and net profit was 8.19 billion yuan, down 35% year-on-year.

In addition, in the field of new energy vehicles, which has received the most attention, although Geely has been very aggressive, it has not achieved the expected effect. As early as 2018, when the "Blue Geely Action" was released, Li Shufu said, "By 2020, more than 90% of Geely cars will be new energy vehicles."

"Geely is indeed very determined to turn to new energy, but from the perspective of product strength, Geely’s new energy series is obviously not the best (but not bad), and the reason why it does not perform better in the field of new energy than domestic competitors such as BYD and BAIC is that Geely has to take into account its own basic market." A senior industry insider told Zhonghe Notes that although new energy vehicles are very popular, in recent years the market is still dominated by fuel vehicles, "so at least for now, fuel vehicles are still Geely’s guarantee, so it will not be as aggressive as BYD and BAIC."

The current downturn in the domestic auto market is due to the fact that the entire auto market is caught in the dilemma of slowing demand, but this also highlights that, despite being a leading domestic car brand, Geely is still unable to escape the impact of the industry cycle in the competition in the stock market.

No one can anticipate when the recovery of the car market will occur. Investing heavily in "heaven" under such circumstances is definitely a pressure for Geely. Regarding Geely’s choice, relevant auto industry observers pointed out: "To achieve the integration of communication and navigation, it is definitely not enough to be close to two satellites. The entire intelligent travel network needs at least dozens of satellites to basically cover, which will be a long process."

Geely seems to be thinking further than BAIC and BYD to take a step ahead of its competitors. But at the same time, it is also very clear that selling cars is its basic game. As for the rocket chief and "God", Geely can’t be in a hurry.

　　The Supreme Court held a press conference not long ago to inform the court of the relevant situation of safeguarding the legitimate rights and interests of consumers in accordance with the law, and announced 10 typical cases of consumer rights protection, 3 of which were about online shopping. At a time when online shopping is increasingly developed and online shopping disputes are also increasing, it is of great benefit to consumers to understand the Supreme Court’s judgments on typical cases of online shopping and rights protection.

　　Wang Xin v. Xiaomi

　　[Case]

　　On April 8, 2014, the advertisement published by Xiaomi Technology Co., Ltd. (hereinafter referred to as Xiaomi) on its official website showed: 10400mAh mobile power supply, special price of 49 yuan for "Rice Noodles Festival". On the same day, Wang Xin ordered the following two mobile power supplies on the website: Xiaomi Metal Mobile Power 10400mAh silver 69 yuan, Xiaomi Mobile Power 5200mAh silver 39 yuan. After Wang Xin submitted the order, he paid 108 yuan to Xiaomi Company through Alipay on the same day. On the 12th of the same month, Wang Xin received the above two mobile power supplies. Afterwards, Wang Xin sued the People’s Court of Haidian District, Beijing on the grounds that Xiaomi had committed price fraud, requesting the cancellation of the online shopping contract. Wang Xin returned two sets of mobile power supplies involved in the case to Xiaomi, and requested Xiaomi to: 1. Compensation for Wang Xin 500 yuan; 2. Refund of Wang Xin’s purchase price of 108 yuan; 3. Pay Wang Xin’s courier fee of 15 yuan; 4. Compensation for Wang Xin’s transportation, printing, and copying fees of 100 yuan.

　　[Judgment]

　　The court of first instance held that the online shopping contract involved in the case was valid, that Xiaomi’s actions did not constitute fraud, and that Wang Xin’s claim was insufficiently substantiated, so the judgment rejected his claim.

　　Wang Xin refused to accept it and appealed to the Beijing No. 1 Intermediate People’s Court, claiming that Xiaomi had advertised the original price of 69 yuan for the power supply "Rice Noodle Festival" to sell for 49 yuan a week in advance, deceiving consumers to queue up to buy. The advertisement was still there on the day of sale, but the goods were sold for 69 yuan, which constituted price fraud. The 2nd-round Moderation Court held that Wang Xin’s intention to snap up on the day of the "Rice Noodle Festival" because he agreed with Xiaomi’s advertising price of 49 yuan should be 49 yuan. However, from the order details on Xiaomi’s website, it can be seen that Wang Xin placed an order at 14:30 on April 8, 2014, and the price of the 10400mAh mobile power supply in the order was 69 yuan instead of 49 yuan. Xiaomi now acknowledges that there is an error in the display of the activity interface of Xiaomi Mall, and there is an inconsistency between the advertised price and the actual settlement price, but it interprets it as an error in the computer background system. Since Xiaomi did not make a statement to consumers on the Internet about the error in its background after the fact, and it has no evidence to prove that the computer background failed on the day of the "Rice Noodles Festival", the 2nd-round Moderation court found that Xiaomi had the intention to defraud consumers, and Wang Xin’s request for cancellation of the contract was reasonable due to the fraud of the 10400mAh mobile power supply. For the other power supply, both parties agreed to terminate the contract, and the 2nd-round Moderation court granted it. Therefore, the court ruled that Wang Xin should return the above two mobile power supplies to Xiaomi Company according to law, and Xiaomi Company should compensate Wang Xin 500 yuan, refund Wang Xin 108 yuan for the goods, and reject Wang Xin’s other claims.

　　[Comment]

　　If the seller sells goods online with price fraud and induces consumers to buy the goods, even if the quality of the goods is qualified, the consumer has the right to request the seller to "refund one to three" and guarantee compensation.

　　Li Xiaodong v. Jiuxian.com

　　[Case]

　　On August 9, 2012, Li Xiaodong bought 6 bottles of Baijiu sold by Jiuxian.com e-commerce joint stock company (hereinafter referred to as Jiuxian.com) on Taobao. The online product page described it as [Baijiu China Famous Brand 52 Degrees Wuliangye (1618) 500ml Special Price], and the transaction price was 8349 yuan. After the transaction was completed, Li Xiaodong checked the above webpage and found that the Baijiu purchased in Jiuxian.com’s Taobao store won the bidding of the product "special price and original price" equal, so he reported it to the Beijing Price Reporting Center. Afterwards, Li Xiaodong and Jiuxian Company reached a "Understanding Agreement", agreeing that the two parties would complete the return and refund procedures within 5 days after the signing of the agreement. Jiuxian Company compensated Li Xiaodong 8,394 yuan, and if one party breached the contract, it would bear 20% of the total amount of liquidated damages. Because Jiuxian Company failed to fulfill the agreement, Li Xiaodong sued to the People’s Court of Binhai County, Jiangsu Province, requesting Jiuxian Company to compensate 8,394 yuan and bear liquidated damages of 1678.8 yuan.

　　[Judgment]

　　The court under suit held that business operators should follow the principles of voluntary, equal, fair, and good faith when conducting transactions with consumers. In the course of transactions, business operators should provide consumers with true information about the goods and must not make false propaganda. In the course of online transactions in this case, Jiuxian Company misled consumers by selling special goods online. Its behavior constituted fraud and should bear legal responsibility according to law. Li Xiaodong reached an understanding agreement with Jiuxian Company in the process of claiming compensation. Because Jiuxian Company failed to perform its obligations in accordance with the agreement, its behavior constituted a breach of contract and should bear the liability for breach of contract. Therefore, Li Xiaodong’s lawsuit request for Jiuxian Company to perform its compensation obligations in accordance with the agreement complies with the law and should be supported according to law. The court ordered Jiuxian Company to pay Li Xiaodong 8,394 yuan in compensation and 1678.8 yuan in liquidated damages, totaling 10,072.8 yuan. Jiuxian Company did not appeal.

　　[Comment]

　　As a seller, there is fraud in the process of using other people’s networks to sell goods. If the seller reaches a compensation agreement with the consumer after the transaction and fails to fulfill it, the consumer has the right to request the seller to bear compensation liability in accordance with the agreement.

　　Yang Bo v. Express Company

　　[Case]

　　On March 19, 2013, Yang Bo purchased a computer worth 15,123 yuan from Fu Yingchun’s electronic business department in the form of online shopping. After placing the order, the payment and postage of 95 yuan have been paid to Yingchun. On the same day, Fu Yingchun entrusted Wulateqianqi Branch of Bayannaoer Hezhong Yuantong Express Co., Ltd. (hereinafter referred to as the courier company) to deliver the goods. The goods arrived at the delivery place on the 24th of the same month and were falsely claimed by others. To this end, Yang Bo repeatedly asked Fu Yingchun to deliver the goods unsuccessfully, and then sued the People’s Court of Wulateqianqi, Inner Mongolia Autonomous Region, requesting that the courier company and Fu Yingchun compensate 15,123 yuan for the computer payment and 95 yuan for the postage.

　　[Judgment]

　　The court held that Yang Bo purchased goods from Fu Yingchun in the form of online shopping, and paid the payment and postage to Fu Yingchun. Fu Yingchun, as the shipper, entrusted the courier company to deliver the goods to Yang Bo, forming the online shopping contract relationship and the transportation contract relationship respectively. From the perspective of the respective rights and obligations of the parties, in the online shopping contract, Yang Bo has paid the payment and postage through online banking, fulfilled the consumer’s payment obligation, and Fu Yingchun, as the seller, has the obligation to deliver the goods to Yang Bo according to the contract. Although Fu Yingchun has handed over the goods to the courier company for shipment, during the transportation process, the courier company’s staff handed over the goods to others for receipt without verifying the identity information of the other party during delivery. The seller Fu Yingchun has not completed the delivery obligation of the goods, which constitutes a breach of contract. Therefore, Yang Bo’s request for Fu Yingchun to compensate 15,123 yuan for the paid computer payment and 95 yuan for the postage should be supported. According to the principle of relativity of the contract, the contract only binds the parties to the contract. The courier company mistakenly handed over the goods to others, which belongs to the transportation relationship between Fu Yingchun and the courier company. The courier company should not be liable for compensation in this case, so Yang Bo’s request that the courier company should be liable for compensation is not supported. The court ordered Yingchun to compensate Yang Bo 15,123 yuan for the computer payment and 95 yuan for the postage. None of the parties appealed.

　　[Comment]

　　If the consumer claims that the seller and the deliveryman share the liability for compensation for the goods purchased online by others during the delivery process, the seller shall be liable for compensation according to the principle of relativity of the contract.