Image source: Visual China

Zhang Jinglun, Blue Whale financial reporter

Recently, Coca-Cola has issued price adjustment notices in Hebei, Henan, Shandong and other regions, following a clear price increase for a number of sodas under Pepsi Beverages.

At the same time as the price increase of "Liangle", domestic soda has increased the penetration of end point catering channels, and a new round of competition in the soda industry has kicked off.

In April, Hubei Swire Coca-Cola, Jiangxi Swire Coca-Cola, and Zhengzhou Swire Coca-Cola successively issued notifications of some product adjustments, saying that the supply price of some products was adjusted from late April, and the recommended retail price was adjusted from 3 yuan/bottle to 3.5 yuan/bottle, with a price increase of 16%.

In May, Pepsi Cola also announced an increase in the recommended retail price of its various soda products. In addition to the 550ml main product, the recommended retail price was adjusted to 3.5 yuan, and the recommended retail price of 900ml Pepsi, Qixi, and Meininda series products was adjusted to 5 yuan/bottle.

At the same time, Coca-Cola in Hebei, Henan, Shandong, Jiangxi, Jilin, Chongqing and other regions or outright or implicit price increases, but the end point price adjustment products and ranges vary.

Blue Whale financial reporters visited and found that the price of two 500ml plastic bottles of Coke in many supermarkets in Beijing has been consistent with the price adjustment notice, and the price of convenience stores such as convenience bees is slightly higher. The price of 500ml Coca-Cola is 4.2 yuan/bottle.

Blue Whale financial reporters contacted Pepsi and Coca-Cola about the price increase, but did not receive a reply as of the date of publication.

Why are drinks getting more expensive?

In fact, this round of beverage price increases has already emerged from the first half of last year. In February 2023, Nongfu Spring announced that it would adjust the price of 19L bottled water in Hangzhou by 2 yuan. Yakult also announced that the unit price of original flavor products would increase from 11.7 yuan to 12.8 yuan. In March 2023, the ex-factory price of some products of the "Flavor Power" brand would be adjusted by 3% -6%. From November 2023, the price of Master Kong beverages will increase in an all-round way – the retail price of packages in Master Kong tea and juice series products will be adjusted from 3 yuan/bottle to 3.5 yuan/bottle, and the retail price of 1L bottles will be adjusted from 4 yuan/bottle to 5 yuan/bottle.

Blue Whale financial reporters visited and found that the selection of beverages under 3 yuan is increasingly rare. Most standard packaged juice drinks, tea drinks, soda, etc. are priced at more than 3 yuan, and high-end drinks are more expensive. In convenience stores, drinks under 5 yuan have become difficult to find.

The owner of a convenience store in Chaoyang District, Beijing revealed that the unified estimate will also increase prices in the future, and it has been notified that it will be next month.

Behind the frequent price increases of beverage brands is the cost crisis.

A bottle of beverage involves raw materials in multiple fields, usually including cane sugar, PET resin and cartons. According to the Minsheng Securities Research Report, sugar accounts for 31% of the cost composition of the soft drink industry, preform PET accounts for 19%, and cartons account for 18%.

Industry analysts believe that as the cost of raw materials, packaging, and transportation increases, beverage producers are facing higher cost pressures.

For sugary beverages, the fluctuation of white sugar prices determines the price of beverages. According to data from the Food and Agriculture Organization of the United Nations, due to the El Ni?o phenomenon, the output of sugar-producing countries India and Thailand has declined. On September 6, 2023, the price of white sugar was 7,390 yuan/ton, a record high in nearly 13 years.

The price of PET (a polymer polyester material), the main raw material for beverage packaging bottles, is also rising. Nongfu Spring mentioned in the 2022 annual report that the price of crude oil has risen, and the price of raw materials such as PET, a downstream product of crude oil, has risen significantly, increasing the cost pressure on drinking water and beverage companies that use PET and other materials as the main raw materials for product packaging.

In addition, the high cost of marketing activities, or also an important reason for the price increase of beverages. Take Dongpeng Special Drink as an example, the sales cost reached 1.956 billion yuan in 2023, an increase of 34.94% year-on-year, and the funds used for advertising alone cost 860 million.

Continuing to hold high advertising and marketing, there are also Dayao Beverages. Recently, Dayao Beverages has been advertising "Big Soda, Drink Dayao" in the Beijing subway at Xizhimen Station, Wangfujing Station, Guomao Station, Chaoyangmen Station, Xidan Station, Qingnian Road Station, Hujialou Station and other Beijing subway stations.

The relevant person in charge of the Dayao brand said: "The 2024 Dayao brand advertisement has landed at more than 80 stations and 270 points in the Beijing subway, and the exposure number is estimated to be 1.60 billion." Although such large-scale advertising actions are currently concentrated in Beijing, it cannot be ruled out that in the future, when conditions are ripe, similar advertising actions will be carried out in Shanghai, Guangzhou, Shenzhen and other cities and regions step by step.

Domestic soda develops catering channels

When it comes to the dominance of carbonated beverages, only "two music" can compete in the entire market. Foreign brands "dominate" in the retail channel, while domestic sodas such as Bingfeng, Arctic Ocean, and Dayao choose to "find another way" – start again in the catering channel.

Born in Inner Mongolia, Dayao soda has gone national with its strong presence in the catering channel.

Luo Yun, executive director and executive deputy general manager of Dayao Beverage, said in an interview that the soda giants are not interested in catering channels, which gives Dayao the opportunity. At present, Dayao has nearly one million end points in catering channels, all of which are run out of the marketing team. In contrast, other circulation channels are not so difficult to do.

According to the data disclosed by the big kiln, more than 85% of the sales of the big kiln currently come from the catering channel, and 78.4% of consumers choose to buy the big kiln from the catering shop. It can be seen that the big kiln is highly dependent on the channel of the middle and low-end catering market.

When Blue Whale financial reporters visited, they found that while the price of "Liangle" rose, many domestic soda brands reduced prices in catering channels.

The owner of an iron pot stew restaurant told Blue Whale Financial Reporter that consumers will bring a bottle of Coke or a large kiln when purchasing soda, and the sales volume is basically the same. The large kiln in our store has a coupon on Meituan, and the group buying price of 520ml is 3.9 yuan/bottle. Large-capacity packaging looks more cost-effective.

Blue whale financial reporter to check the big kiln Taobao flagship store found that a box of 12 bottles of 520ml big kiln orange Nuo price of 59.9 yuan, equivalent to 4.99 yuan/bottle, higher than the restaurant group buying price. And in some supermarkets in Beijing, 520ml glass bottle big kiln price of 5.9 yuan/bottle.

An industry insider told Blue Whale Financial Reporter, "The catering channel is still the one that performs better at present, thanks to the considerable profit margin it gives the catering end point. People who run takeout, Didi drivers and other people will order the big kiln when they eat, and the big kiln can be sold in the suburbs, but the urban area is short of heat. Compared with the professionalism and standardization of the supermarket channel, the catering channel is more loose, and the boss basically takes profit as the reason."

In addition to the large kiln, the prices of Arctic Ocean and Bingfeng in the catering channels have also been reduced.

Blue whale financial reporters visited and found that in a Shaanxi restaurant in Chaoyang District, the group buying price of 330 ml Bingfeng soda is as low as 2 yuan. In a hot pot restaurant in Dongcheng District, the price of 248 ml glass bottles in Arctic Ocean is 3.2 yuan/bottle, which is 60% lower than the recommended retail price.

It is worth mentioning that in March this year, Bingfeng issued the latest notice for distributors at all levels in Xi’an. According to the notice, in response to the relevant calls of the brand to profit consumption and boost consumer confidence, Bingfeng recommends that all food and beverage retail stores at the end point implement the latest price system of 2 yuan per bottle for Bingfeng 200ml glass bottle products (including orange-flavored soda, apple-flavored soda, sour plum soup, and sugar-free orange-flavored soda).

Industry analysts point out that the deep cultivation of domestic soda brands in the catering channel reflects their strategic adjustment in the competition with foreign brands, that is, to take advantage of price space and localization advantages. However, in order to achieve a significant increase in market share as a whole, domestic soda brands still need to overcome multiple challenges such as branding, product innovation, and cost control. It is difficult to maintain price advantage and emotional marketing alone.

Will domestic soda prices follow suit?

In fact, since May last year, Coca-Cola has been quietly raising prices in many places, and the standard size of soda has been raised from the original 3.5 yuan/bottle to 3.8 yuan/bottle.

But the price increase did not have any impact on its sales, and its revenue and profit both increased. According to the 2023 performance report released by COFCO Coca-Cola’s parent company, COFCO Foods, sales revenue reached 21.446 billion yuan during the reporting period, an increase of 2.3% year-on-year. Adjusted EBIT (EBIT) and EBITDA (Earnings Before Interest) increased by 10.7% and 13.3% year-on-year respectively; profit reached 1.386 billion yuan during the period, an increase of 14.47% year-on-year, and profit grew faster than revenue.

The owner of a convenience store in Beijing’s Chaoyang district also said that the price increase had little impact on the sales of "Liangle". "After so many years of cultivation, consumers still can’t live without Coke for a while, which is a bit addictive."

So will domestic soda follow the pace of price increases?

Xiao Zhuqing, an expert in the fast-moving consumer goods industry, believes: "The cost increase is more lethal for small and medium-sized enterprises, because these enterprises do not have the procurement scale and supply chain advantages. For big brands, part of this pressure will be passed on to suppliers. But if the cost pressure continues to increase, Coca-Cola’s price increase will also drive up the price of the whole industry."

"At present, major companies are carrying the pressure, because the price increase will bring a series of consequences such as the reduction of channel profits, so the channel will represent other brands that do not increase prices. If only Coca-Cola increases prices, it will bring opportunities to competitors, so companies will be very cautious about price increases," Xiao Zhuqing said.

Original title: "The price of" Coke "has risen, and the soda market is surging."

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1905 movie network feature On the night of October 16, along with the song "Hard to Say Goodbye" that triggered the chorus of the audience, the filmmaker Jackie Chan waved affectionately to the people of "hometown" Datong, announcing the successful conclusion of the 6th Jackie Chan International Action Film Week. At the same time, the live stream of the movie channel located on the eight-meter-high platform opposite Yongtai Gate also ended the three-day panoramic live broadcast of the financial media with excellent results.

The total amount of live broadcast viewing exceeded 100 million, the total amount of reading on Weibo related topics exceeded 1.20 billion times, there were more than 38 hot topics present on all major platforms, and the short video views broke 1 billion… From the in-depth exploration of the entry ceremony and the closing ceremony behind the scenes, to the "We Join Hands Together" public welfare delivery that promoted Shanxi’s good things, to the innovative film laboratory and the "Script Game · Grand Challenge" activity summit forum, the film channel’s media live broadcast team handed over a panoramic, immersive, and combined report card.

Fearless low temperature, kung fu and public welfare join hands to "Jin"　

"This is really a realistic version of’Ice Sculpture Company ‘." At the end of the curtain, Xu Linglin, the live broadcast director of Rongmedia, sighed again and again. From the host team in front of the camera to the director team behind the scenes and various technical types, the live broadcast team of the movie channel with full down uniforms continued to "fight" with the low temperature of minus 8 degrees Celsius.

Affected by the epidemic, the 6th Jackie Chan International Action Film Week was postponed from the mid-summer season of previous years to the golden autumn. But no one expected that the "winter" of Datong came so unexpectedly. According to Xu Linglin, the reason why the live stream was built on an eight-meter-high platform outside the ancient city wall during the preliminary preparations is that its perspective overlooking the entire ancient city of Datong can make the cultural genes and scientific and technological means of kung fu movies and the unique historical heritage of Datong have a chemical effect.

"But this fully open space has also brought great difficulties to our live broadcast." In addition to the "physical damage" caused by low temperatures to personnel, the stability of high-altitude equipment technology and the difficulty of controlling natural factors such as strong winds and sunlight also pose a huge test for the high-quality output of live broadcast images. "It feels like we are fighting against nature, trying every means to make the picture more perfect."

In the opinion of Song He, another live broadcast director, the biggest challenge of this live broadcast is not the low temperature, but the temporary addition of the key content with little preparation time. Just as the event was set, many places in Shanxi ushered in torrential rains and suffered severe floods. With Mr. Jackie Chan’s concern for the people in the disaster area, the film channel’s financial media live broadcast team immediately launched a public welfare assistance plan, and finally launched the "We Join Hands Together" public welfare live broadcast with Taobao Live.

On the 15th and 16th, for two consecutive nights, the live streaming host group of the movie channel joined hands with 18 Taobao live streaming hosts to promote good things in Datong and other disaster-stricken areas in Shanxi by live streaming, and effectively drove the sales of characteristic agricultural products in each disaster area with good results. In the main live stream led by the live streaming host group of the movie channel and filmmakers, Zhang Yinglong, director of the Agricultural Office of the Datong Municipal Committee of the Communist Party of China and director of the Datong Agriculture and Rural Bureau, introduced Datong Huanhua, Huanhua, Xiaomi, apricot and other products. According to Taobao official statistics, on the night of the 15th alone, the Amity Aid Shanxi Flood Public Welfare Link raised nearly 500,000 yuan.

There is light on the screen, and kung fu skills are vigorous and turbulent; there is love in the world, and public welfare acts warm people’s hearts. Despite the successful experience of the public welfare relay live broadcast in the Guangdong-Hong Kong-Macao Greater Bay Area not long ago, the confident movie channel people are not slack, and they have efficiently completed the selection of good items and the design of various public welfare links in a short time, just to bring the most practical help to this land with special ties. "Jackie Chan International Action Film Week has been held in Datong for three consecutive sessions. We also have the same hometown-like feelings as Jackie Chan and Shanxi. If we can make some contributions to our family, it is worth it."

I am a strong country, innovative exploration, and looking forward to the future of the industry

Unlike the past five editions, which have focused on recognizing new action films, the sixth Jackie Chan International Action Film Week has turned its attention back to classic Chinese action films, and specially selected "Top 10 Classic Chinese Action Movies", aiming to reinvigorate the development of contemporary Chinese action films through re-examination of classics.

With her experience in hosting professional film programs, Yao Miao, the host of the movie channel, also has a special affection for Chinese action movie classics. During this film week, she launched the "Yao Miao Film Lab" as a producer, general director and host, and gathered with more than ten filmmakers, scholars and film critics to discuss Chinese kung fu film issues in depth through a forum.

The original intention that inspired Yao Miao to open this "laboratory" was the release of three films – documentaries focusing on kung fu filmmakers, Hong Kong-made police and bandit action films and war-themed action films – during the delay of the film week due to the impact of the epidemic. "Chinese action movies are facing a dilemma, but at the same time, the expectations of Chinese audiences also show the huge market of this genre. Our’laboratory ‘hopes to explore the possibility of combining new era action movies with other genres, and also hopes to find a new successor of Chinese action movies."

Is the 67-year-old Jackie Chan old? How do Chinese action movies collide with a new era of action? Who is the next "dragon" to influence the world? In the Datong Shinzenlou Square, which has a unique historical heritage, many sharp topics triggered heated discussions among the guests, and the online volume was stimulated by the live broadcast of the movie channel. "Since it is called’Lab ‘, what we are looking forward to is a kind of honesty of exploration and truth-seeking, and it is very fortunate that the guests have shown this attitude." It is reported that these highly enlightening discussions will also be broadcast in the form of special programs through the film channel’s "Today Film Review" column.

In addition to the topic of action movies, the "Script Game · Grand Challenge" activity specially created by 1905 Movie Network for this year’s Jackie Chan International Action Film Week also explores the future possibilities of this emerging industry with an innovative model combining summit forums and real-life experiences. From the prospect of script game IP entering the film and television industry chain, to the examination of the chaos of the industry, and to the possibility of "script game + X" extension, the summit forum carefully and orderly reveals the "yesterday, today and tomorrow" of the script game industry; VR experience, olfactory tracking… The offline real-life experience presented in a variety of ways, and the landing possibilities of various prospect topics are intuitively output with the power of science and technology.

According to Li Wei, chief producer of the 6th Jackie Chan International Action Film Week and chairperson of the 1905 Film Network, most of the screenplay game works in this exhibition are created by "post-90s" young authors, including "Mulan Joins the Army", which fits the local folk stories of Datong, and other works have a good inheritance of traditional Chinese cultural IP. The innovative development of emerging industries under the inheritance is also highly consistent with the concept of from classic to new life advocated by this film week.

The day after the curtain ended, the official Weibo of Jackie Chan International Action Film Week continued to receive enthusiastic interactive messages from netizens. It’s hard to say goodbye, not only Jackie Chan’s reluctance to part with Datong, but also the gratitude of the film channel’s financial media live broadcast team for this enthusiasm. Breaking through the test of epidemic and disaster, the next Jackie Chan International Action Film Week will be more exciting. We will meet again in the live broadcast next year!

[Shaanxi Automobile Online News]The sun, the moon, the stars, and all things, look up to the Milky Way! On April 24, also the eighth China Space Day, the first Geely Galaxy L7 was officially rolled off the assembly line at Geely Automobile Baoji Manufacturing Base.

Baoji is the birthplace of Zhou and Qin civilizations and the hometown of Chinese bronzes. It has a profound historical and cultural heritage and the genes of craftsmen in a big country! In this environment where the development of the automobile industry has unique advantages, Baoji Intelligent Factory has undergone innovation and upgrading, built a 4.0 factory with full-cycle AI intelligent control of "technology intelligent manufacturing, process leadership", and fully escorted the excellent quality of Geely Galaxy L7 for ingenuity! Geely Galaxy L7, the first plug-in hybrid model under the Geely Galaxy brand, is officially off the assembly line here! It marks that the Geely brand has taken a new step again!

In the exterior part, Geely Galaxy L7 adopts the official design language called "Galaxy Light", and the front face part has a large number of polyline shapes. It adopts a closed design and adds a lot of details, such as through-type daytime running lights with split headlights on both sides. In addition, there is a trapezoidal heat dissipation opening design at the bottom of the bumper. At the same time, the roof part does not use a panoramic canopy, but adopts a larger area of open revelation sunroof design.

The side lines can be seen that it adopts a roof line similar to the back. The visual effect is very prominent through the blackened color scheme of the entire ABCD column and the roof. However, the door handle does not use a hidden design, but uses a traditional shape. In terms of body size, the length, width and height of the new car are 4700/1905/1685mm, and the wheelbase is 2785mm. The rear part of the Geely Galaxy L7 also adopts the popular through-type taillight group shape, and it is also equipped with a large-size spoiler to enhance the sense of sports.

In terms of interior, the Galaxy L7 central control part does not use the popular large-screen design, but uses a separation design of 10.25-inch LCD instrument, 13.2-inch central multimedia floating large screen and 16.2-inch co-pilot large screen, and its central control large screen has a built-in Snapdragon 8155 chip, equipped with Galaxy N OS system. In addition, it also has a 25.6-inch oversized AR-HUD head-up display, and a flat-bottomed multi-function steering wheel. The color scheme adopts a classic black and white collocation.

In terms of power, Geely Galaxy L7 is equipped with a hybrid system composed of a 1.5T turbocharged gasoline engine and an electric motor, of which the gasoline engine has a maximum power of 163 horsepower, is equipped with a 3 DHT Pro variable frequency electric drive system, and uses the P1 + P2 scheme, which can both assist and drive independently. In terms of performance, the new car’s 0-100km/h acceleration time is 6.9 seconds, and the fuel consumption of 100 kilometers of power loss is only 5.23L, and its CLTC comprehensive cruising range is 1370 kilometers.

It is reported that Geely Galaxy L7 has made its debut and opened reservations at the Shanghai Auto Show, and is expected to be listed in the second quarter. The Geely Automobile Baoji Smart Factory, which produces Geely Galaxy L7, was officially landed in Baoji National High-tech Development Zone in 2013. Since it was put into mass production in 2016, it has delivered 840,000 vehicles to users. It is understood that the factory has attracted more than 40 automobile core parts supporting enterprises to gather, and the annual output value of the factory has exceeded 70 billion yuan. Radiation has created an industrial effect of nearly 100 billion yuan, becoming a well-deserved "leader" in Baoji’s automobile and parts industry. The total construction area is 400,000 square meters, and there are four main process rooms including stamping, welding, painting and final assembly of the whole vehicle.

　　On December 20, the fifth anniversary review of Tencent’s "Chuangyi Plan" was held in Shenzhen. The event invited representatives of many non-profit organizations, creative agencies, design teams, commercial brands and cooperative farmers to gather at Binhai Building to review the ecological value created by the "Chuangyi Plan" over the past five years, witness the latest achievements of the Chuangyi Plan in 2021, and discuss the prospects for sustainable social value innovation based on the Chuangyi Platform.

　　This year, Tencent launched its fourth strategic upgrade – "Promoting Sustainable Social Value Innovation" and "Rooting in Consumer Internet and Embracing Industrial Internet" as the foundation for the company’s development, and jointly driving all core businesses. Under the guidance of the new strategy, the "Creativity Plan" has also been fully upgraded, further promoting the implementation of "Sustainable Social Value Innovation" and "Common Prosperity Special Project Plan".

　　Chen Juhong, vice-president of Tencent and head of Tencent’s Sustainable Social Value Division, said in her speech: "We have always adhered to the sustainable development of public welfare through business methods, technological capabilities, platform connections and innovative practices. This is our main model for sustainable social value innovation. We hope to accelerate the process of public welfare through digitalization and intelligence, so that more individuals in need of help in the world can benefit, and bring about equality and efficiency improvement. The’Creativity Plan ‘is an important practice for us to try this new paradigm."

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Chen Juhong, Vice President of Tencent and Head of Tencent Sustainable Social Value Division

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　　Luan Na, vice-president of Tencent, shared in her speech: "We have been constantly exploring and making continuous efforts, hoping that the’Chuangyi Plan ‘can give full play to Tencent’s ability to connect for good and the ecological advantages of advertising and marketing ecology, and connect more ecological partners such as public welfare, advertising, design, brand, etc. At the same time, continue to provide digital tools and solutions to help create profits through science and technology, promote public welfare organizations and public welfare projects across the country to enhance the ability of public welfare creative communication, further promote the healthy development of China’s public welfare ecology, and continuously create sustainable social value."

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Luan Na, Vice President of Tencent

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　　2017-2021After five years of generating profits, goodwill continues

　　Since its launch in 2017, the "Chuangyi Plan" has been based on Tencent’s platform resources and connectivity, implemented the innovative mechanism of "Creativity + Technology + Public Welfare", played the role of "connector", connected all roles in the ecology, realized the full linkage of creative power, advertising technology capabilities and public welfare projects, and drove more partners in the Chuangyi ecosystem to act together, so that more issues can be seen and understood, and create greater social value. In the past five years, the project has attracted more than 13,000 Chuangyi people and more than 5,000 teams to directly participate, incubated more than 240 Chuangyi works, exposed and interacted with nearly 10 billion, and drove more than 300 million people to participate in public welfare activities.

　　At the event, the four Chuangyi people who accompanied the "Chuangyi Plan" shared their own "Chuangyi" stories, reviewing the continuous growth and extension of the "Chuangyi Plan" and the social value created by the "Chuangyi Ecology" from the perspective of public welfare organizations, brands and creative agencies.

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Zhou Yuan, Director of Brand and Communication of WWF, Zhao Guangfeng, Deputy Director of Funding Projects Department of China Women’s Development Foundation, Teng Lihua, President of Beijing Ogilvy Group, and Yum China representatives delivered keynote speeches respectively

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　　In addition, the project team also joined hands with the FiT Tencent blockchain team to launch the "Chuangyi Plan" fifth anniversary series of digital collections "Thank You, Shining Light", limited to 5,000 pieces, paying tribute to every Chuangyi person who has been with us for five years.

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12 digital collections created with the theme of 5 years of outstanding works and projects of the "Creation Project"

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　　2021Year: The original intention remains unchanged, innovation moves forward

　　This year, the new "Chuangyi Plan" is more focused, and continues to create social value through the three core projects of "I am a Chuangyi Person" public welfare project assistance plan, "Chuangyi Brand + Plan" and "Harvest Good Things Plan".

　　Under the guidance of the Ministry of Agriculture and Rural Affairs, since its launch in September 2021, the "Harvest Good Goods Plan" has actively responded to the national rural revitalization strategy. Since its launch in September 2021, it has opened up digital upstream channels for more than 40 characteristic agricultural products in 23 provinces and cities across the country, effectively promoted the docking of production and sales, promoted the digital transformation and upgrading of agricultural product brands, helped rural revitalization and common prosperity, and brought "the second harvest" to farmers.

　　At the event, Tencent SSV Village Development Laboratory invited farmers and business representatives from many places to come to the stage to share the story of the harvest and share the joy of the harvest. Xiao Liming, vice president of sustainable social value of Tencent and head of the Village Development Laboratory, said: "As the engine of Tencent in the field of rural revitalization, Tencent SSV Village Development Laboratory will adhere to the principle of’government-led, social co-creation, Tencent-assisted, pilot demonstration, and classified promotion ‘to promote the co-creation of beautiful villages."

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　　Representatives of farmers participating in the "Harvest Good Things Program" exchanged gifts and took a group photo with representatives of the Tencent organizer. On the table is the QQ penguin doll dough specially made by the face master of the intangible culture of Shandong Province. (From left) Tencent SSV is Chen Jingjing, the head of the village think tank of the village development laboratory, Luan Huifang, the president of the Shandong Yantai Agricultural Society, Wang Jingbo, the chairperson of the Langyaling Xiaolong Agricultural Products Farmers Professional Cooperative in Laizhou City, Xiao Liming, vice president of sustainable social value of Tencent and the head of the village development laboratory, Yang Yue, the chairperson of Jiangxi Geqing Food Co., Ltd., Yue Chunli, the general manager of Ningxia Fresh Qilai E-commerce Co., Ltd., and Lai Huiqing, the chairperson of Guangzhou Yunding Ganpu Tea Industry Co., Ltd.

　　The "Chuangyi Brand +" program is committed to promoting the close connection between enterprises and public welfare, investing together with brands, realizing complementary resource advantages, and enhancing the digital ability of public welfare projects. This year, the "Chuangyi Brand +" program has actively participated in five enterprises and institutions, Yum China, Amway, Vipshop, Hangzhou Wenshang Charity Foundation, and Ubras, incubating five key public welfare works, raising nearly 30 million yuan for public welfare projects, and raising social attention to public welfare issues.

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The organizer and the jury awarded awards to the winning works of "Chuangyi Brand +"

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　　This year, the "I am a Creator" public welfare project assistance plan has become more focused, shifting from an open proposition to a focus on ten social value areas, covering low-carbon action, cultural heritage, biodiversity, technological public welfare, rural revitalization, etc., and further establishing direct connections between the hatched works and the projects on the Tencent Charity platform to create better access and connection.

　　At the event, the winning works of "I am a Creator" in 2021 also appeared one after another. Among them, the work "A Special" Organ Transplant "by the TOPic & Loong team won the grand prize in the public service advertisement category. The work uses organ transplantation as a cutting point to subtly stimulate people’s renewed attention and reflection on the topic of afforestation. In addition," Mai Jishan’s Cultural Anxiety "and" My "Cat" Lost "won the gold award in the public service advertisement category," Wrong Socks Day "," Dong Yi "and" Her Power ", which is born to the new, won the best public service product design award, and the best public service product solution was won by" Grandma Azi’s Sunset Gallery "," Perfect Time "and" Gangsha Monopoly ".

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The organizer and the jury presented awards to the winning entries of "I am a Creator"

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　　Ecology-based, the future is promising

　　In the past five years, the "Chuangyi Plan" has continuously innovated and iterated, connected and gathered forces from multiple parties, consolidated the foundation of the "Chuangyi" platform, continuously stimulated ecological vitality, and provided a steady stream of impetus for the innovation of social value.

　　At the event, five guests from the creative, public welfare, design, brand and other circles discussed how to connect and co-create in the Chuangyi ecology over the past five years, empower creativity with technology, tell good public welfare stories, and achieve more effectiveness and create greater sustainable social value. At the same time, they also imagined the future of the platform ecology, looking forward to realizing end-to-end public welfare connections, activating, integrating and linking more resources, and growing greater public welfare possibilities.

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From left: Mr. Yang Weijia, General Planning of Chuangyi Project and Senior Brand PR Director of Tencent Advertising, Mr. Long Jieqi, TOPic & Loong Chuangyi Person and CCO, Chen Yan, General Manager of Tencent User Research and Experience Design Department, Dou Ruigang, Executive Secretary of Tencent Charity Foundation, Chang Yue, Deputy General Manager of Tencent Advertising Market and Vice President of Tencent Smart Retail Market, Zhou Yuan, Director of WWF Brand and Communication

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　　Five years is an important milestone, but also a new starting point. Over the past five years, the "Creativity Program" has continuously explored a new paradigm of public welfare, empowering public welfare with digital capabilities, and achieving energy efficiency with diverse partners, so that goodwill can be passed on and continued, and carried forward.

　　Walking with light, goodwill is always there, and the "Chuangyi" action in the new year is about to start. Please follow the "Chuangyi Plan" official account & WeChat Channels and join the team of "Chuangyi People"!

　　About the "Creativity Plan"

　　"Chuangyi Plan" is Tencent’s open ecological platform for the whole society to create sustainable social value. It is committed to stimulating the enthusiasm of all parties in society for co-creation, exporting effective and sustainable public welfare solutions, and realizing public welfare accessible to everyone. In 2021, with the establishment of the Sustainable Social Value Division (SSV) by Tencent to promote the implementation of the "Sustainable Social Value Innovation" and "Common Prosperity Special Project Plan" strategies, the "Chuangyi Plan" has also ushered in a comprehensive upgrade: through the three core projects of "I am a Chuangyi Person" public welfare project assistance plan, "Chuangyi Brand + Plan", and "Harvest Good Things Plan", the power of public welfare ecology continues to promote the implementation of public welfare effectiveness.

　　About the "Harvest Good Things" program

　　The "Harvest Good Things Plan" is a special project plan for Tencent to actively respond to the national rural revitalization strategy. Under the guidance of the Ministry of Agriculture and Rural Affairs, with the help of Tencent’s resources and capabilities, it promotes the digital transformation and upgrading of agricultural product brands and helps common prosperity. This plan is jointly initiated by Tencent Sustainable Social Value Division (SSV), Tencent Charity, Tencent Advertising, and WeChat. Through platform traffic and ecological resource support, digital solution support, customized services and talent support, it promotes rural industry revitalization, practices sustainable social value innovation, and contributes to common prosperity.

　　About "Chuangyi Brand + Program"

　　The "Chuangyi Brand + Plan" is a public welfare ecosystem where Tencent and brands create sustainable social value. As one of the core projects of Tencent’s "Chuangyi Plan", it is jointly initiated by Tencent Charity Foundation and Tencent Advertising. It aims to invest together with brands to achieve complementary resource advantages, enhance the digital capabilities of public welfare projects and the social attention of public welfare issues, and gather the power of products, technologies and solutions to promote the implementation and innovation of sustainable social value.

　　About the "I am a Chuangyi Person" public welfare project assistance plan

　　Under the guidance of the China Advertising Association, the "I am Chuangyi People" public welfare project assistance plan was jointly initiated by Tencent Sustainable Social Value Division (SSV), Tencent Charity, Tencent Advertising, and Tencent User Research and Experience Design Department (CDC). It aims to improve the creative level of China’s public welfare industry through the support of Tencent platform resources, help public welfare projects and public welfare issues gain more social attention, and make public welfare accessible to everyone through the innovative mechanism of "creativity + technology + public welfare".

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New energy vehicles and fuel vehicles have their own characteristics. It is difficult to say who is better than whom. Consumers will be bold to buy whatever they like. What we are talking about today. Let’s introduce it well.

First of all, from the appearance point of view, the front face of the M5 has improved the grade of the whole car, looking more simple and elegant. Then the avant-garde and personalized headlight design has been adopted, which has improved a certain grade. The car is equipped with LED daytime running lights, headlight height adjustment, automatic opening and closing, adaptive far and near light, delayed closing, etc. To the side of the body, the body size of the car is 4785MM*1930MM*1620MM, the car adopts avant-garde lines, the side circumference gives a very atmospheric feeling, with large-sized thick-walled tires, the shape is quite simple and elegant. Looking back, the rear line of the M5 is simple, and the tail lights give a very simple feeling. The whole looks very cute.

When I came to the inside of the Wenjie M5, the interior design of the Wenjie M5 looks relatively young and fashionable, reflecting the sense of design. The steering wheel design of the car is very clean and refreshing, made of genuine leather, and the practicality and appearance are not bad. Take a look at the central control, which is decorated with a 15.6-inch central control screen, which makes the interior design quite layered, which is in line with the car’s temperament. Let me introduce the dashboard and seats. The car is equipped with a tough dashboard, which is easy and clear to read information. The car uses leather/imitation leather mixed and matched seats, and the seats are wide and thick, which is basically enough for daily use.

The total power of the M5 motor is 365KW, the total torque is 675N.m, and the maximum speed is 210km/h.

The rear compartment space of the M5 is well-behaved, but it supports the reclining of the rear seats, which greatly enhances the scalability of the space and meets the needs of daily travel. At the same time, the car is equipped with fatigue reminder, brake anti-lock braking (ABS), LED daytime running lights, brake assist (EBA/BAS, etc.), braking force distribution (EBD) main driver airbag, passenger seat airbag, side aircurtain, front side airbag and other safety configurations.

The SUV model has an atmospheric appearance, good space performance, and high cost performance. I wonder if you are interested in it. If you are also planning to buy a car now, then today’s car is worth learning about.

With the overall improvement of epidemic prevention and control in China, tourism demand has been gradually released. In order to thoroughly implement the decision-making and deployment of the provincial party committee and provincial government to stabilize the economy and promote consumption, expand the brand promotion of Shanxi cultural tourism, promote the rapid recovery of the cultural tourism market, and effectively stimulate cultural and tourism consumption, the Shanxi Provincial Department of Culture and Tourism cooperated with Autonavi Map Digital Navigation to officially launch the "Shanxi One-Click Smart Tour" platform on July 6, dedicated to comprehensively improving the digital marketing capabilities of Shanxi cultural tourism in the field of travel and promoting the high-quality development of Shanxi cultural tourism.

This time, "Beauty is around, Jin is in front of you" Autonavi map Shanxi one-click smart travel platform online release activity, combined with the 4th Rural Cultural Tourism Festival in Loufan County, aimed at the current travel needs of tourists, aiming at the most popular self-driving travel camping experience and RV camps and other emerging tourism formats, taking "Smart Cultural Tourism + Rural Revitalization" as a breakthrough point, through the "offline launch ceremony + online marketing promotion" method, making a call for Shanxi Cultural Tourism, realizing the transformation of Shanxi Cultural Tourism brand volume to market traffic, and driving the effective growth of Shanxi Cultural Tourism consumption.

"Shanxi Good Scenery" One-Click Smart Tour Platform, as the first provincial official portal product platform of Autonavi Map, will fully present humanized smart tourism services, and use the quick search function to accelerate the realization of "pre-trip travel reference, on-the-way navigation explanation, and post-trip comment interaction". The online and offline seamless connection and full coverage journey services are convenient for people to grasp the travel information related to destinations and scenic spots and attractions in a timely and accurate manner before and during the trip, and directly place an order to make an appointment or buy their favorite cultural and tourism products.

Tell the story of Shanxi well and spread Shanxi culture. Use new technologies, new means and new kinetic energy to empower cultural tourism, take the "one-click smart tour" platform as an opportunity, and use the Autonavi digital navigation map platform to speak for Shanxi cultural tourism, actively build "ancient Chinese civilization · Shanxi good scenery" into a top domestic cultural tourism brand, and accelerate the construction of Shanxi into an internationally renowned cultural tourism destination.

Source of information: Exchange and Cooperation Section of the Bureau

　　　　　　　 "Tang Bohu Dianqiuxiang 2," directed by Li Lizhi and starring Huang Xiaoming, Ren Xianqi, Zhou Libo and others, has been filming for nearly three weeks since its launch in Beijing in November. On the 20th, the film revealed for the first time that Ren Xianqi played the talented "Xu Zhenqing". With an explosive instant noodle-style curly hair, a full beard, and a funny expression, it is a stunning "Eastern Einstein" look. The director Li Lizhi said that his inspiration came from Einstein.

shape

The hairstyle was inspired by Einstein

　　The first talent to be exposed not only surprised the reporters who got the stills first, but also made the members of the crew laugh when they first appeared. Li Lizhi had to explain: "Xu Zhenqing’s hairstyle was inspired by Einstein, because his character in the film is an inventor, and the nature of his work is the same as that of the greatest Einstein, so our stylist designed him a modern Einstein-style hairstyle. I also call him’Eastern Einstein ‘myself."

　　And for this look, Xiao Qi himself found it very funny. "In fact, the hair is nothing, but this beard gives me the most headache. Zhou Libo can finish the look in 15 minutes, and I can finish it at least two hours earlier than others. Sometimes I can’t help but laugh when I wake up and find myself turned into a large chocolate marshmallow."

　　Although the effect is very funny, it is not easy to make the shape, because the wig and beard must be soaked in potions, so contact with the skin will inevitably hurt, but Xiao Qi will not mind at all, which makes the styling director praise his professionalism.

role

An ancient Oriental inventor

　　Since the reference to Einstein’s shape, it is naturally because the essence of this character is somewhat similar to Einstein. According to the director, Ren Xianqi plays the genius "Xu Zhenqing", also known as Xu Changgu, who is an ancient Oriental inventor. This person is not only quirky, but also stunned by all kinds of bizarre inventions. In the shape photo exposed this time, Xiao Qi is holding a cross-shaped "tool" made of bamboo and wood, which is one of such "strange inventions". "It is the gadget in his hand that plays a small role in the movie, and all these props will be released in the future." The director also deliberately sold a pass.

　

　

　

　

　

　　consensus

　　The driver asked for a fare increase halfway through?

　　The passenger and driver both admitted to the incident

　　The passenger called the police twice

　　The passenger and driver both admitted to the incident

　　disagreement

　　Slowing down on purpose?

　　The driver refused to admit that I couldn’t slow down to a few dozen yards on the highway.

　　Threatening passengers?

　　The driver explained: "Don’t catch the plane if it’s too big." It means that after the police intervene, it will delay time and affect the plane, not a threat.

　　Drive the car in the other direction?

　　The driver explained: Thinking that the police would deal with it after calling the police, he planned to park the car in the parking lot without any other ideas

　　Double the fare if you don’t stop the trip after arrival?

　　The driver does not admit it: he just reported to the Didi platform that there was a problem with the billing, and then the platform changed the fare.

　　Ms Hu, of Guanghan, Deyang, is still afraid of a Didi taxi ride a few days ago. On the 27th, she said, she and her mother took a Didi ride from Guanghan to Shuangliu International Airport, but on the way, they were met with a Didi driver who asked for an extra fare. "I didn’t agree to increase the money, and the driver had a bad attitude and told me’don’t catch the plane if it’s too big ‘. After I called the police for the first time, the driver drove in the other direction." Worried that the driver was messing around, Ms Hu said, she pulled the handbrake to force the car to stop and called the police a second time before the Didi driver took her to the airport. But after getting out of the car, the driver did not stop the trip, which caused the fare to double.

　　In this regard, Didi driver Master Lin admitted that he had asked for a fare increase on the way, but denied threatening passengers to "don’t catch the plane" and not terminating the trip after arriving at the destination. In response to Ms. Hu’s complaint, the customer service of Didi Chuxing platform said that it will terminate the cooperative relationship with the driver involved and is currently negotiating with passengers to deal with the matter.

　　Passenger complaints

　　The driver asked for a fare increase on the way, but drove in the other direction after disagreeing

　　The driver did not stop the journey after reaching the destination, causing the fare to double

　　On the afternoon of the 26th, Ms Hu booked an online taxi from Guanghan to Shuangliu International Airport through Didi Chuxing. On the morning of the 27th, she will fly to Urumqi. After the appointment was successful, Ms. Hu said, Master Lin, who received the order, called and asked her to pay cash. The fare and toll totaled 180 yuan. "Online car-hailing has always been paid online, so I refused the driver’s request [to pay cash], but agreed to pay the toll."

　　On the morning of the 27th, after receiving a call from Master Lin, Ms. Hu and her mother got on the bus at the agreed location and set off. According to the call records, Ms. Hu said, she and her mother got on the bus between 7:20 and 7:30 and set off from Guanghan. "After getting on the bus, the driver asked me to give cash, and on the road, he made many reasons for me to pay cash, but I didn’t agree."

　　When driving to the Chengdu Ring Expressway, Ms. Hu’s mobile phone showed that the fare was more than 80 yuan. "At that time, he asked me how much it was displayed on my mobile phone, and then he said that there was a problem with the software billing, so he couldn’t run at a loss, and asked me to increase the fare by 100 yuan." Ms. Hu said that she did not agree to the driver’s request, and then the driver began to slow down. "I could run about 100 yards at the beginning of the journey, and only 60 yards after the deceleration. But there were more cars, so I didn’t say anything. But then the driver was slower, and I saw that the dashboard showed that it was only 40 yards."

　　Ms. Hu said she objected to her driver, who ignored her concerns about missing her flight and the unsafety of traveling so slowly on the highway. "It took about 10 minutes to drive at 60 and 40 yards an hour, and I can’t remember the exact time."

　　"As soon as the car was off the highway, the driver parked the car on the side of the road and asked me to increase the price by 100 yuan again." Ms. Hu said that after arguing with Master Lin, the other party still asked her to increase the price. There was no one around at the time, so she had to choose to call the police. At 8:25, she made the first call to the police. "After I hung up, the driver had a bad attitude and said to me, ‘Don’t catch the plane if it’s too big,’ and he wouldn’t pay for the plane ticket."

　　After calling the police for the first time, the driver restarted the vehicle and set off. "But the driver didn’t drive in the direction of the airport, but went to another road." At that time, Ms. Hu said, she couldn’t open the door and window of the car, and she, who was not familiar with Master Lin, was worried that the other party would mess around. After the car drove a few dozen meters, she sat in the back row with her mother and pulled the handbrake of the vehicle to force the car to stop.

　　In desperation, at 8:28, she chose to call the police again. After that, the driver agreed to take her to the airport. "When we arrived at the airport, the police called and I said it had arrived safely." After arriving, Ms. Hu said, she also paid Master Lin 32 yuan in cash for the toll.

　　But Ms Hu said she thought it was over, but then she found out that the driver did not stop the trip when he reached the end, which caused the fare to double. "I got off at 8:31, and the screenshot showed that the fare was 103.6 yuan. But after I changed my boarding pass, I found that the vehicle in the software was still running and did not end the trip. The driver did not end the trip until the fare reached 207.7 yuan." To this end, Ms Hu said, she reported to the Didi Chuxing platform that Master Lin asked for a fare increase halfway through and did not end the trip after arriving at the station.

　　The driver responded

　　It was indeed requested to increase the fare due to abnormal billing, but it did not threaten passengers

　　The trip will be terminated after arriving at the station, but the billing problem will be reported to the platform.

　　On the afternoon of the 29th, a reporter from Chengdu Business Daily contacted Master Lin, a ride-hailing driver on Didi Network, according to the phone number provided by Ms. Hu.

　　Mr. Lin confirmed that he did ask Ms Hu to pay cash after receiving the order, and also asked Ms Hu to increase the price halfway through. "After deducting more than 20% of the platform fee, the fuel fee was not enough, so I asked her to give cash." Mr. Lin said that he did ask Ms Hu to increase the price halfway through because he found an abnormality in the billing of the Didi Chuxing platform. "It is almost 70 kilometers from Guanghan to the airport. How can you run out of 100 yuan? Normally, it costs more than 170 yuan. So I asked her to increase the price by 100 yuan, which includes more than 30 yuan in tolls.

　　"She did call the police twice, but I didn’t threaten her," Mr. Lin said. He told Ms. Hu "don’t catch the plane if it’s too big," meaning that the police intervention will delay time and affect Ms. Hu’s flight. Before the second call, he drove in the other direction, just in the direction of the parking lot on the left. "I thought that the police would definitely come to deal with it after calling the police, so I planned to park the car in the parking lot, and I had no other ideas."

　　Mr. Lin denied Ms. Hu’s claim that the highway was traveling at 40 kilometers per hour. "It’s all people who drive. It’s not safe to drive so slowly on the highway. It’s impossible for me to slow down to dozens of yards."

　　Mr. Lin also confirmed that when he arrived at his destination, the platform showed that the fare was 103.6 yuan. He said that after Ms. Hu got off the bus, he clicked to terminate the trip, not the trip that Ms. Hu said was not terminated after arriving at the station. "There was a problem with the metering on the Didi platform. I called to report on the return journey, and then the platform changed the fare." Mr. Lin said.

　　Didi statement

　　Due to the driver’s request for a fare increase, the partnership will be terminated

　　The problem reported by passengers is being negotiated and needs to be verified by technicians.

　　Ms Hu said that through this incident, she expressed doubts about the review and control of Didi Chuxing’s platform. For this reason, she has asked the platform for a public apology from Didi and Master Lin.

　　"After I complained, Didi [Chuxing] said it had terminated the cooperation with Master Lin. It also offered to give me a free ticket and give me a voucher." Ms Hu said she did not agree to the solution proposed by Didi, which she wanted to apologise publicly.

　　On the afternoon of the 29th, a reporter from Chengdu Business Daily contacted Didi Chuxing’s service platform by phone. The platform’s customer service staff said that the company would terminate the cooperative relationship with the driver involved because the driver violated the platform regulations and required passengers to increase the price. For passengers, the company is negotiating to deal with the matter.

　　After the customer service staff inquired, the platform records showed that the fare for Ms. Hu to take the express train was 174.7 yuan. Regarding the fare reported by Ms. Hu, which was only 103.6 yuan, and the driver’s trip was not terminated, resulting in the doubling of the fare, the customer service staff said that this required further verification by technicians.

　　In response to Hu’s request for a public apology from Didi, the customer service staff said they could only forward the request to the company’s specific handling staff. The Chengdu Business Daily reporter proposed to contact the staff of Didi’s company to handle the matter, but the customer service staff said that they did not have a phone number, but they could forward the reporter’s interview request to the relevant staff, and the relevant staff would reply within four hours. However, as of the time of press time, no relevant reply has been received.

　　Chengdu Business Daily reporters, Yao Yongzhong, Wang Mingping

The article is authorized to transfer from the official account: NetEase Technology (ID: tech_163) Author: Liu She, Jingjing

For Lei Jun, "Are you ok" may become a thing of the past.

In an interview program, Lei Jun gave another golden sentence: When I was almost 40 years old, I woke up from my sleep and thought, I used to want to start a great company and do something great, but at the age of 40 I felt like I had achieved nothing.

After these words were said, after "regretting the creation of Ali Jack Ma, not knowing his wife, Richard Liu, having nothing Wang Jianlin, ordinary family Pony Ma, life failure Zhou Hongyi", the bosses’ Versailles literature added another sentence:

Nothing, Rebs!

40-Year-old Lei Jun
How "nothing" is it?

Lei Jun was born in 1969, and at the age of 40 in 2009; was Lei Jun really "nothing" at that time?

A draft of "Lei Jun Leopard Change" in People magazine once described the scene of Lei Jun’s 40th birthday as follows:

On December 16, 2009, on a snowy night, opposite the Yanshan Hotel in Beijing, the lounge cafe. In hindsight, this was the eve of a depressed IT old man turning into a new rich man.

That night Lei Jun called his friends to drink, and Bi Sheng, Li Wanqiang, Li Xueling and other Jinshan old friends were among them. Lei Jun spent the night in sadness, frustration and contradictions, sighing and pouring Heineken beer bottle after bottle. The group drank more and more. At 11:30, Lei Jun said that today is his 40th birthday.

Bi Sheng recalled that the tone of the conversation at that time was reflection: "[Lei Jun] talked about his model worker life, is it wrong? Reflect on his career for so many years, from leadership philosophy to philosophy of doing things, is it wrong?"

The party was nearing the end, and everyone said they were 40 years old. Let’s summarize. Lei Jun left a sentence: "Follow the trend, don’t move against the trend."

Everyone took a taxi home at the crossroads of the Double Elm Contemporary Mall.

It seems that Lei Jun was indeed dissatisfied with his career at that time. But in fact, Lei Jun, who sighed in pain and thought he had achieved nothing at the age of 40, had already gained fame and fortune at that time.

Lei Jun joined Kingsoft in 1992 at the age of 23. After joining Kingsoft, Lei Jun became the general manager of Kingsoft in 1998 at the age of 29.

It is understood that Lei Jun once proposed the strategy of "based on the office software market and entering the home software market" at Jinshan. Since then, Jinshan has launched a series of home and office software, becoming a famous software company in the Chinese market. Lei Jun also became a well-known figure in the IT software industry.

Not only that, Lei Jun also sent Kingsoft to the Hong Kong IPO. In 2007, Kingsoft went public in Hong Kong. After the listing, Qiubojun’s net worth 800 million Hong Kong dollars, and Lei Jun 300 million Hong Kong dollars.

In addition to the blessing of Kingsoft’s listing, Lei Jun’s previous excellent network has already allowed him to achieve financial freedom: in 2004, excellent network sold to Amazon at the price of 75 million US dollars, Lei Jun also obtained a lot of wealth.

At this time, Lei Jun has achieved financial freedom and made a name for himself in the IT field. According to media reports, Ma Yun and Ma Yun have both looked for Lei Jun to obtain Lei Jun’s investment.

"At this stage, I became nothing but money," Lei Jun recalled. And Li Wanqiang also recalled, "After Lei Jun’s IPO in Jinshan, he was very lonely and lost. He didn’t know what to do when he got up every morning."

After Kingsoft went public, Lei Jun stepped down as CEO and became vice chairperson. After he resigned as CEO of Kingsoft, he became an investor.

According to media reports, from 2008 to 2011, Lei Jun, who was financially free, has invested in more than 20 companies such as Good Doctor Online, VANCL, Letao.com, Taimei, Lakala, YY Duoplay Network, and dajie.com.

The media described Lei Jun at this time as "carrying a sack of cash to see who is doing mobile Internet. If you don’t do it, you will find the second place, and if you don’t do it, you will find the third place."

But this kind of investment life doesn’t seem to be suitable for IT model worker Lei Jun, so there is the scene described in "Lei Jun Leopard Change".

After that, everyone knew that Lei Jun founded Xiaomi in 2010.

In this CCTV interview, Lei Jun also added: This is incomprehensible to ordinary people. Everyone thinks you are a little "pretending", so I was scolded miserably for telling the truth. In fact, it is not. It depends on what your pursuit is. If you want to do a great career from a young age, and then you reach the age of 40 and you think you are not great, your inner frustration is very strong.

Well, this Versailles suit. I can’t remember the big dreams I had as a kid…

True – Versailles – bosses

In love with Versailles, not only Lei Jun, in the boss, Ma Yun, Wang Jianlin can be regarded as the master of Versailles literature.

Like Ma Yun, there was the following Versailles literature:

I’ve never touched money. I’m not interested in it

2. The biggest mistake I made in my life was founding Alibaba. I didn’t expect this to change my life. I just wanted to start a small company, but it turned into such a big business. If there is an afterlife, I will not do such a business again.

3. People who earn one or two million a month are quite happy, but people who earn one or two billion a month are actually very uncomfortable

Another example is Brother Ma, who also had the following Versailles literature:

We are all ordinary families, nothing special, at most the house is bigger

Wang Jianlin, who loves to sing "Nothing", redefined "small goals":

Want to be the richest man in the world, the direction of this struggle is right, but it is best to set a small goal that can be achieved first, such as I earn 100 million first

Richard Liu, who married Zhang Zetian, also showed off in a low-key manner:

"I’m face-blind. To be honest, I can’t tell who’s beautiful and who’s not. I’m not with her because she’s beautiful, because I don’t know if she’s beautiful or not."

Lei Jun himself has also had Versailles many times, such as the famous Pig on the Wind:

Standing on the wind, pigs can fly

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Wang Jianlin, China’s former richest man once again mired in a cash flow crisis, is frequently selling his shares and assets in response to the urgent need to be caught off guard and the huge share buyback pressure facing the possible failure of Zhuhai Wanda’s listing at the end of the year.

At this moment,A mysterious post-80s businessperson stepped forward and bought a 49% stake in Wanda’s investment for 2.262 billion yuan.In addition, Wanda has successively transferred equity and reduced its holdings to Lu Lili, the proprietress of Oriental Fortune, and Xinxian Rongzhi. Wang Jianlin has temporarily weathered the crisis.

And this billionaire, who is not well known to the outside world, is Ke Liming, the chairperson of the board of directors of Chinese Confucianism and Italy. He crossed the border from hedge funds to the film investment field, and in this extremely risky industry, he frequently hit hit hit hits and became famous.

He does business with Pony Ma, China’s Confucianism and Tencent’s equity business is closely tied; he once helped Xu Jiayin, who was in crisis with blood transfusion; now this man, who is difficult to open the company’s official website and hard to find on the rich list, has become Wang Jianlin’s "white knight".

However, behind these transactions, there was his meticulous planning and the huge ambition of capital operation.

First, concocting explosions

Movies are a business with a very high failure rate, even for big productions, well-known directors, and popular movie stars, there are many precedents for capsizing in the gutter.

As Yan Yan, a partner at Saifu Asia Investment Fund, put it, "art and the box office seem to be in constant contradiction."

In recent years, the market environment of the film and television industry has deteriorated, and the original "the principle of factor sparsity" has become the "rule of nine".Only the top 10% or even 5% of movies can make money.

But in this miserable track, Colliming, who debuted halfway, rarely failed in the early days of his business.

After graduating with a master’s degree in finance, he took a step-by-step job at Persistent Hedge hedge fund in Hong Kong. In 2009, Asian finance swept the entire capital markets. It was said that he lost money in the stock market that year, and then decided to leave the financial industry and start a new business.

This year, he took the remaining 2 million yuan to the advertising company founded by his brother Ke Jiuming, and renamed the company "Beijing Ruyi Xinxin Film Investment Company" (Referred to as Ruyi Films)…

Ruyi Pictures initially cut into TV dramas. With years of investment banking thinking, he has a high degree of sensitivity and judgment on the cost and profit prospects of TV dramas, and almost "can roughly estimate the production cost after reading the script".

During this period, Ruyi Films planned and produced well-known works such as "Iron Teeth Bronze Teeth Ji Xiaolan 4", "Ex-Wife’s Station", "Spring of Li Chun" and "Woman of the Swordsman Family". The TV series "No War in Beiping" won the Magnolia Award, the Flying Sky Award and the China Golden Eagle Excellence Award.

Due to the saturation of the TV drama industry, he turned his attention to movies. After studying classic IPs such as Marvel, Ke Liming decided to cut into the IP and set up a "Confucian-Italian Books" company, planning and publishing the "To Youth" series, and successively acquired "Langya Bang", "Biography of Miyue", "Three Lives and Three Miles and Ten Miles of Peach Blossom", "No War in Peking" and other best-selling online articles, and turned them into film and television dramas.

In 2013, Ruyi Film and Zhao Wei jointly produced the "To Youth" series of films, which became an instant hit. After that, the box office of "Old Boy" and "Small Times 3/4" became popular, and the company became a well-known producer on the big screen overnight.

And "Old Boy Raptor Crossing the River" spawned the hit song "Little Apple", which also introduced the outside world to Colliming’s marketing talents.

In recent years, although there are not many works invested by Confucianism, there are not a few excellent performers. Behind the box office 5.40 billion "Hello, Li Huanying" and this summer box office champion "Vanishing She", there are Confucianism Pictures.

"I would never define myself as a filmmaker, I am an investor," Mr. Colliming stressed in an interview. It was the abandonment of past film industry empiricism that allowed the young man to create a methodology using investment models and financial thinking.

He brought quantitative analysis and big data to the extreme, and established a unique evaluation system. First of all, he subdivided the theme into characters, emotions, scenes, freshness, etc., and conducted data analysis on these subdivisions.

Secondly, it summarizes the "eight-character formula" of popular IPs –Life and death, poverty and wealth, love and hate, poverty and prosperity.

If a work gets more than "7 points" in his own evaluation system, Ke Liming will immediately start the director’s "database" and match it with the director’s strengths and weaknesses, audience ratings of past works, and box office results, thereby increasing the success rate of high-return births.

In Ke Liming’s view, investing in movies is like investing in stocks. "It is similar to studying the relevant indexes of the broader market. What is the standard index of the broader market, and what is the correlation of the same industry? It is completely operated according to the analysis method of stocks."

It can be said that Colliming’s style of play was undoubtedly a dimensionality reduction blow to the Chinese film industry at that time. He used a capital yardstick to reshape the film production process and became a rising star in the industry.

II. Capital thinking

In the golden age of Chinese movies, it would be a pity if Ruyi Pictures’ perfect capital story was not realized in time.

For the investment banker, this is a once-in-a-lifetime opportunity.

As early as August 2014, China Technology Holdings planned to acquire Ruyi Pictures in 1.50 billion, and the valuation at that time was based on the latter’s performance commitment of 130 million yuan in 2015.

At that time, the market was full of doubts. Colliming explained that the company already had a lot of IP reserves, which was equivalent to driving down future costs. He stressed: "The value of the entrance cannot be evaluated. If we can produce five movies in the next year, and the box office will be 35 billion yuan per year, then our value will be underestimated."

But for this practice of using future profit promises as valuation reference coordinates, regulators paid close attention, and investors also had many controversies. Finally, a year later, the deal collapsed.

In 2015, Tianshen Entertainment’s M & A fund announced the acquisition of 49% of Ruyi Film for 1.323 billion yuan in cash. That is to say, in just one year, Ruyi Film’s valuation has reached 2.70 billion yuan, soaring 80%.

But less than a year after the acquisition, Tianshen Entertainment sold it to Dayu Assets for 1.617 billion yuan, and the overall valuation of Ruyi Pictures has risen to 3.30 billion yuan.

In 2020, Ke Liming’s life trajectory is linked with Ma Ma and Xu Jiayin. At that time, Hengteng Network, which aspires to become "China Netflix", 7.20 billion Hong Kong dollars(6.60 billion yuan)Fully acquired assets such as Ruyi Film, Pumpkin Film and Television, and Jingxiu Network. At this time, the valuation is nearly 5 times that of 2014.

However, a few months later, Hengda debt thunder, Hengteng network shares were sold. During the period, Ke Liming to 4.433 billion Hong Kong dollars to take back Hengda held 739 million shares, than when he sold to Hengteng network a lot more expensive, which is also the side of ke justice.

Since then, Hengda has been reducing its holdings all the way, eventually cashing out more than 10 billion Hong Kong dollars and clearing all its positions. In 2021, Hengteng Network was renamed China Ruyi, and Ke Liming served as the chairperson of the company.

In addition, Ruyi Pictures has also spread "scandals" about capital transactions with Jixiang and Shanshan.

Hengda out, the relationship between Tencent and Ruyi film increasingly close, in addition to subscribing to China Ruyi just issued 4 billion Hong Kong dollar fixed share, but also in the content authorization, membership sharing and pumpkin film cooperation, but also for Ruyi games to provide technical services and channel promotion help.

It can be seen that,Since he started his business, Ke Liming seems to have set the goal of capital operation for Confucianism.He used a brand-new routine to invest in movies, finding a new way to support non-professional directors such as Xiao Yang, Jia Ling, and Chen Sicheng, and forcefully broke out into a world.

After studying the overseas streaming media model, Ruyi’s Pumpkin Movie is benchmarked against Netflix, with the ad-free membership system as the highlight, with the content production of Ruyi Pictures, the content authorization of shareholder Tencent, the experience of using Pumpkin Movie, and the film and television fans.

In addition, its Jingxiu Games can also be developed in conjunction with the IP of Ruyi Reserve, realizing the trident combination of "film and television production, investment + streaming media + games".

From finance to film, Mr. Colliming has struggled to find ways to raise the valuation of his stake, and now, in the midst of Wanda’s troubles, he has the chance to take a stake in China’s largest cinema company.

III. Engage in the downstream

There is one similarity between investing in the stock market and investing in movies, and that isIt is impossible to predict accurately forever.

Perhaps a certain method has a very high success rate in a particular period, but times change, audience preferences, trends, and changes in artistic techniques are unpredictable, and it is impossible to eat fresh food all over the world.

Moreover, even if you bet on popular works, it does not mean that you will be able to make money. For example, in 2013, the box office of "To Youth", "Old Boy" and "Small Times" invested by Ruyi exceeded 1.50 billion, but Ruyi Xinxin lost 2.53 million yuan that year.

Film and television investment and PE/VC investment are very different in terms of returns. Venture capital may be able to generate huge returns through one or two successful projects, helping companies gain fame in the industry and acquire more good projects.

But film investment is difficult. On the one hand, the film industry chain is like shooting a movie, which is long and complex. Of the box office revenue of the movie, 3.3% is used to pay taxes, 5% is given to the film development fund, and the remaining nearly 50% goes to the theater.(Or theater brand side)4% to 6% goes to the distributor, and about 40% goes to the producer.

So the movie income is shared by everyone, and the current movie investment is basically produced by many parties(Investment)Although Ruyi has bet on multiple hits, they are all jointly produced in "Vanished Her" and "Hello, Li Huanying", not the first investor, and the share is limited.

On the other hand, a good movie cannot find a so-called fixed formula. After the success of Ruyi Film in 2013, the follow-up of its own IP works was weak, which caused the youth to change the main creator and hit the street; the movie version of "Three Lives, Three Worlds and Ten Miles of Peach Blossom" was complained as a bad movie.

Since the beginning of this year, among the works invested by Confucianism and Italy, the low-cost production of "Keep You Safe" has performed well and is expected to generate some profits, but "Exchange Life" is likely to lose money, and the movie "Enthusiastic" is still in theaters.

In 2022, China’s Ruyi, which originally relied on film investment, accounted for 88% of its business composition, plus Internet community value-added services accounted for more than 90% of the income, while content production only received 100 million yuan of income, accounting for only 8%.

That is to say, in the cold winter of the film and television industry, it is Pumpkin Movies that has supported the company’s basic disk. China Ruyi has not released the latest user data of Pumpkin Movies, but as of the end of 2021, Pumpkin Movies has accumulated registered member 70.84 million, an increase of 101% year-on-year; cumulative paid subscription users 28.68 million, an increase of 472% year-on-year.

Although after years of hard work, Confucianism has amassed a high reputation in the industryThe contribution of film investment to performance is limited and volatile.

Today, after investing in Wanda, Shanghai Ruyi indirectly holds a 9.8% stake in Wanda Film, although as a financial investment. But through this deal, Ke Liming has successfully intervened in downstream channels. You know, Wanda Film is the absolute leader of domestic cinema chains. As of the end of June 2023, Wanda Film’s market share reached 16.8%.

Colliming pulled Wang Jianlin, and the feedback he got must be the convenience of arranging films in his works, as well as the greater voice over the cinema.

Write at the end

In the film and television industry, the only constant is change itself.

"Li Du’s poems have been passed down through the ages, and so far they are not new." It is the norm for a generation of newcomers to replace old people.

When Ke Liming joined the industry, he built a country with investment banking thinking, and his valuation soared and his reputation grew. But today, his thinking has seemed a little old. Investing in Wanda may be able to make it new by supplementing the industrial chain.

But for a company whose performance fluctuates so violently, relies heavily on the streaming business, and has little profit from movie investment, it has little effect on increasing market value other than following the fluctuations of the industry market.

Of course, this is also the flaw of all film and television companies, not Colliming alone.

This article is from the WeChat official account:Tide WAVE (ID: WAVE-BIZ)Author: Xie Zefeng, Editor: Yang Xuran