The price is 1.098 million! BYD’s "black technology" luxury car is not afraid of floating and single-wheel puncture.

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  After eight months of preheating,To the million levelThe first product that entered the car market finally went to the market.

  On September 20th, Wangwang’s first model, Wangwang U8, was officially launched. The official price of the new car was 1.098 million yuan, which was consistent with the previously announced pre-sale price.

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  In the record of investor relations activities disclosed on September 18, BYD made a preliminary exposition on looking up to the black technology carried by the brand. In this listing activity, BYD also took the company’s understanding and research on core technologies as the "key words" of the conference.

  In the view of Wang Chuanfu, chairman of BYD, shaping high-end brands does not depend on stacking configuration, but on design and technology.

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  Easy Sifang technology leads to hot discussion in the market

  At the beginning of this year, BYD launched the "Easy Sifang" technology when it released its look-up brand. According to reports, "Yi Sifang" is a set of fourThe dynamic system with independent drive as the core is surrounded by three dimensions: perception, decision-making and execution.The characteristics of the vehicle have been completely reconstructed, subverting the power system capability system of the previous fuel vehicle.

  For example, after a single wheel of a vehicle has a flat tire, the "Easy Square" technology can accurately adjust the torque of the remaining three wheels at a frequency of 1,000 times per second, and make powerful compensation intervention on the body posture through the driving wheel in time to help the driver stop the vehicle stably and controllably. Today, this technology has been successfully applied to Wangwang U8, which has just been listed.

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  When public opinion generally focuses on the million-class off-road vehicle launched by BYD, many investment institutions pay more attention to the core technology carried by BYD U8.

  According to the analysis, BYD’s "Easy Sifang" technology platform is the key core technology of looking up to the brand. The independent driving of each wheel is realized through four wheels, combined with the deep fusion perception of the whole vehicle, and based on the technology of body stability vector control, the safety of the product can be further improved.

  safe and soundIt is believed that the "Easy Sifang" technology platform and the launch of U8 are of great significance for independent brands to impact the high-end market. Looking up to the brand and positioning a million-level brand, before that, there were few models that reached this price band by independent car companies. The launch of "Easy Sifang" means that China brand has ushered in the opportunity to impact the high-end market with its core technological advantages, and has the ability to master the definition of high-end performance, which reflects to some extent that independent car companies areTechnical confidence of the times. In the long run, if we hope that the brand can form a certain market reputation and brand appeal among domestic and even global users, it will be of valuable reference significance for independent automobile enterprises to attack the million-level high-end market, and at the same time, it will be of great significance to enhance the self-confidence and cultural self-confidence of Chinese automobile brands.

  Emergency floating function has attracted much attention.

  At the press conference, BYDIt also introduces in detail the emergency floating function that has attracted much attention from the market. It is reported that this function has achieved the whole system standard in looking up to U8 models.

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  According to reports, looking up at U8 has a good sealing performance, which can ensure that the vehicle does not sink. At the same time, its easy-to-square technology can ensure the control of the vehicle after it enters the floating state by mistake. When the emergency floating capacity is triggered, the engine looking up to U8 version will automatically shut down in advance.

  "Looking up to U8′ s emergency floating ability is passively triggered. When the user starts wading mode through the Xinghe curved screen and starts wading, the vehicle will pass a variety ofMonitor the wading depth, body posture, wheel slip state, etc. If it meets the floating conditions, it will automatically trigger emergency floating, and realize the forward and steering control of the vehicle after it enters the floating state in the water. According to BYD insiders, this function can greatly ensure the safety of drivers and passengers when the vehicle accidentally wades.

  first half of a yearA year-on-year increase of 220.02%

  Not long ago, BYD disclosed the 2023 semi-annual report. The financial report shows that BYD achieved revenue of 260.124 billion yuan in the first half of the year, a year-on-year increase of 72.72%; The net profit of returning to the mother was 10.954 billion yuan, a year-on-year increase of 204.68%; The net profit after deducting non-profit was 9.695 billion yuan, a year-on-year increase of 220.02%.

  BYD introduced that in the first half of the year, the company consolidated its leading position in the field of new energy vehicles, and its market share expanded to 33.5%, an increase of 6.5 percentage points over 2022.

  In terms of sales volume, in the first half of the year, BYD acted as China.Automobile leader, with a cumulative sales volume of 1,255,600 vehicles, up 95.78% year-on-year. It is worth mentioning that in addition to continuously expanding the sales scale, BYD also focused on high-end breakthroughs in the first half of the year. It is reported that in addition to looking up to the brand, the main market range of BYD Tengshi brand has been locked in the market of 300,000 to 500,000 yuan, and the personalized brand equation Leopard will be in the price range of 400,000 to 600,000 yuan. This means that at this stage, BYD’s product portfolio has fully covered almost all levels and prices of the mainstream new energy passenger car market in China, and there is a trend of continuous upward penetration.

[Early know] A new round of large-scale conflict broke out between Palestine and Israel; Zhejiang Guoxiang IPO brakes Shanghai Stock Exchange will carry out special verification.

  [Abstract] Zhuozhao dispensing today; Main market performance during the long holiday: China’s assets generally rose, international.A sharp drop; The spokesman of the Ministry of Commerce answered the reporter’s question on the inclusion of some China entities in the export control "entity list" by the US Department of Commerce; Shanghai and Shenzhen Stock Exchanges: At present, the time for T+0 trading in A-share market is not mature;The IPO braked suddenly, and the Shanghai Stock Exchange will carry out special verification; manufacturing industryIt rose for four consecutive months and rose to the expansion range for the first time since April; Many data of long holiday travel have exceeded before the epidemic; National Film Bureau: National Day box office 2.734 billion yuan; Sudden change in the Middle East! The largest armed conflict broke out between Palestine and Israel in several years; US non-farm payrolls data in September far exceeded expectations.

  Hot spot focusing

  1. The spokesman of the Ministry of Commerce answered a reporter’s question on the inclusion of some China entities in the export control "entity list" by the US Department of Commerce.

  A spokesman for the Ministry of Commerce answered a reporter’s question on the inclusion of some China entities in the export control "entity list" by the US Department of Commerce.

  A reporter asked: On October 6, 2023, US Eastern Time, the US Department of Commerce announced that some Russian entities were included in the "list of entities" for export control. What is China’s comment on this?

  A: China has noticed the relevant situation. In a short time, the United States once again listed some Russian enterprises in the "entity list" of export control on the grounds of so-called involvement in China. The United States has generalized national security, abused export control measures, and arbitrarily imposed unilateral sanctions and "long-arm jurisdiction" on China enterprises. This is a typical act of economic coercion and unilateralism, which China resolutely opposes.

  The United States should immediately correct its wrong practices and stop its unreasonable suppression of China enterprises. China will take all necessary measures to resolutely safeguard the legitimate rights and interests of enterprises in China.

  2. Shanghai and Shenzhen Stock Exchanges: At this stage, the time for T+0 trading in the A-share market is not mature.

  Relevant person in charge of Shanghai and Shenzhen Stock Exchanges answered questions from reporters. Q: Recently, it has been reported from the media that the trading hours of A shares will be extended after the holiday, and T+0 trading will be tried out on some stocks. How do you comment on this? A: We are concerned about the above rumors, and the relevant contents are not true. On August 18th this year, when answering a reporter’s question on activating the capital market and boosting investors’ confidence, the relevant person in charge of the CSRC proposed to study the appropriate extension of the trading hours in the A-share market. This work involves a wide range and has a great influence. The Exchange is conducting in-depth research and demonstration in accordance with the unified deployment of the CSRC. In addition, the relevant person in charge answered the reporter’s question in the early stage and made it clear that the time for T+0 trading in the A-share market at this stage is not mature.

  3. IPO slams on the brakes. The Shanghai Stock Exchange will carry out special verification.

  Near the subscription date, (603361)IPO presses the pause button. The Shanghai Stock Exchange also paid close attention to this matter, saying that it would conduct a special inspection on Zhejiang Guoxiang. On the evening of October 7, Zhejiang GuoxiangDue to relevant media reports, in order to effectively protect the interests of investors, the issuer and the lead underwriter decided to suspend the subsequent issuance work until the relevant matters are verified and clarified. The estimated issuance schedule disclosed in the original Announcement on Issuance Arrangements and Preliminary Inquiry will be adjusted. Zhejiang Guoxiang was originally scheduled to purchase on October 9th (T-day) after the National Day. In answering a reporter’s question, the Shanghai Stock Exchange said that recently, there have been media concerns about the existence of the same asset secondary listing and high issuance pricing in Zhejiang Guoxiang. In this regard, the Exchange said that it has paid attention to relevant reports. The relevant information reflected from the media has been paid attention to in the audit and a special inquiry has been made. At present, Zhejiang Guoxiang has suspended the IPO issuance process.

  In April and September, the purchasing managers’ index of China’s manufacturing industry was 50.2%, up 0.5 percentage points from last month.

  In September, the purchasing managers’ index (PMI) of China’s manufacturing industry was 50.2%, up by 0.5 percentage point from the previous month. After running below 50% for five consecutive months, it returned to the expansion range. At the same time, the index rose for four consecutive months, and the chain-on-chain increase rate continued to expand, indicating that the economic recovery situation is getting better. Among the 21 industries surveyed, the purchasing managers’ index of 11 industries is above the critical point, two more than last month, and the manufacturing boom has expanded.

  5. China in SeptemberThe scale was $3,115.1 billion, down $45 billion from the end of August.

  Statistics from the State Administration of Foreign Exchange show that by the end of September, 2023, China’s foreign exchange reserves stood at $3,115.1 billion, down by $45 billion or 1.42% from the end of August. In September 2023, affected by major economiesInfluenced by policies and expectations, macroeconomic data and other factors, the US dollar index rose and the global financial asset prices generally fell. The scale of foreign exchange reserves decreased in the month due to the combined effects of exchange rate conversion and asset price changes. The overall recovery of China’s economy is improving, and the solid progress of high-quality development is conducive to the continued stability of the scale of foreign exchange reserves.

  6. Many data of long holiday travel have exceeded that before the epidemic.

  According to the Ministry of Culture and Tourism, during the Mid-Autumn Festival and National Day holidays in 2023, the cultural and tourism industries recovered strongly, and the national holiday market was stable and orderly. Ministry of Economy, Culture and TourismIt is estimated that during the eight days of Mid-Autumn Festival and National Day holiday, the number of domestic tourists was 826 million, up by 71.3% year-on-year according to comparable caliber, and up by 4.1% compared with 2019 according to comparable caliber; Domestic tourism revenue reached 753.43 billion yuan, up 129.5% year-on-year according to comparable caliber, and up 1.5% compared with 2019 according to comparable caliber.

  7. Association: September is estimated.The wholesale sales volume of passenger car manufacturers was 830,000, up 23% year-on-year.

  The Federation comprehensively estimated that the wholesale sales volume of passenger car manufacturers in September was 830,000, a year-on-year increase of 23% and a quarter-on-quarter increase of 4%. According to preliminary estimates, from January to September this year, 5.92 million vehicles were wholesale, up 36% year-on-year. The Federation predicts that in 2023, ChinaThe sales volume of passenger cars is 8.5 million, and the sales volume of narrow passenger cars is 23.5 million. The annual car penetration rate is expected to reach 36%. The current operation state is basically consistent with the forecast.

  8. State Administration of Taxation: Departments in charge of official vehicles at all levels should increase the use of new energy vehicles.

  From September 26th to 27th, the State Administration of Taxation was in Hebei.Hold the on-site meeting of new energy vehicle promotion and the national symposium on official vehicle management. The meeting stressed that the competent departments of official vehicles at all levels should fully implement the policy requirements for the promotion of new energy vehicles, strengthen coordination with relevant industry authorities, improve supporting measures, and increase the use of new energy vehicles. It is necessary to pay attention to local conditions and classify policies, better coordinate geographical location, power types, urban-rural differences, and vehicle use, and actively and steadily promote the use of new energy vehicles.

  9. National Film Bureau: National Day box office was 2.734 billion yuan.

  According to the statistics of the National Film Bureau, the total box office of National Day movies in 2023 (from September 29th to October 6th) was 2.734 billion yuan, with 65.1 million people watching movies. The domestic movie box office was 2.618 billion yuan, accounting for 95.78% of the market. The top five movies in the National Day box office were: Rock Solid, 883 million yuan, and My Ex-4: Early Marriage, 6.

  10. IATA: In August, air cargo demand increased year-on-year for the first time in 19 months.

  On October 8, IATA’s regular data on the global air cargo market in August 2023 showed that the air cargo demand increased year-on-year for the first time in 19 months, with an increase of 1.5% compared with August 2022 according to the freight ton-km. The transportation capacity increased by 12.2% compared with August 2022. The strong growth of transportation capacity is attributed to the 30% year-on-year increase of abdominal cabin transportation capacity. Willie Walsh, president of IATA, said that PMI data is developing in a positive direction, and this signal is even more optimistic as we enter the traditional year-end peak season of air cargo.

  11. Shenzhen: By 2025, the proportion of new energy and clean energy power vehicles will reach about 60%.

  Shenzhen Municipal People’s Government issued the implementation plan of Shenzhen peak carbon dioxide emissions. Among them, it is proposed to promote the low-carbon transformation of transportation equipment. By 2025, the proportion of new energy and clean energy power vehicles will reach about 60%, the number of new energy vehicles in the city will reach about 1.3 million, and the number of LNG vehicles will reach more than 20,000.The number of cars is about 2,000; By 2030, the proportion of new energy and clean energy vehicles will reach about 70%, and the number of new energy vehicles in the city will reach about 2 million.

  12、Reduce the price of some models in the United States

  On October 6th, official website in the United States showed that the price of some models in the United States was reduced. The price of Model 3 in the United States was reduced from $40,240 to $38,990, and the price of Model Y long-life version was reduced from $50,490 to $48,490.

  13. Sudden change in the Middle East! The largest armed conflict broke out between Palestine and Israel in years.

  On October 7th, local time, the Palestinian Islamic Resistance Movement (Hamas) announced that it would launch a military operation against Israel. It not only fired thousands of rockets, but also its armed personnel entered Israel and clashed with the Israeli army. The Israeli army responded by launching several rounds of air strikes in the Gaza.

  14. The US non-farm payrolls data in September far exceeded expectations.

  On October 6th, the U.S. Department of Labor announced the changes of non-agricultural employment population and unemployment rate data in September. In September, the number of non-farm employees in the United States increased by 336,000, a sharp increase from the expected 170,000, much higher than the 187,000 in August. This latest data undoubtedly shows the strength of the labor market in the United States, and the number of non-agricultural new jobs exceeding 300,000 is beyond the expectations of all Wall Street institutions. Previously, among large financial institutions, Citigroup gave the highest non-agricultural expectations, but it only added 240,000 people. Investors have more reason to believe that the Fed will remain high.Even in the case of high inflation, further interest rate hikes.

  15. Major market performance during the long holiday: China’s assets generally rose and international oil prices dropped sharply.

  During the A-share holiday, US debt was usedThe overseas market represented by it fluctuates obviously.While the overall situation remained volatile, the US dollar index strengthened and the international oil price dropped sharply.

  In terms of China’s assets, the Hang Seng Index rose by 0.65% and the Hang Seng Science and Technology Index rose by 1.01%.China Jinlong index rose 0.34%, and A50 index rose 0.19%.

  In terms of US stocks, the Nasdaq rose 1.74%, the S&P 500 rose 0.2% and the Dow fell 0.77%. In terms of European stocks, Germany’s DAX30 index fell 0.61%, France’s CAC40 index fell 0.79%, and Britain’s FTSE 100 index fell 1.41%. In the Asia-Pacific stock market, the Korean Composite Index fell by 2.29% and the Nikkei 225 Index fell by 2.75%.

  In terms of commodities, gold and oil all showed a correction. London gold has been falling for nine consecutive trading days since September 25th. During the long holiday, it has fallen by about 2%, and COMEX gold has fallen by 1.84%. In terms of crude oil, NYMEX crude oil fell by 9.8% and ICE oil distribution fell by 9.31%.

  16. The Beijing Stock Exchange revised the relevant guidelines and promoted the transfer in a safe and orderly manner.

  On October 8, after soliciting opinions from all parties in the market, the Beijing Stock Exchange revised and published "Beijing"Guidelines for Continuous Supervision of Listed Companies of the Stock Exchange No.7-Transfer of Board (hereinafter referred to as "Transfer of Board Guidelines"). According to the experts interviewed, with the official release of the "Transfer Guidelines" of the North Stock Exchange, the transfer listing of the North Stock Exchange will soon enter the practical stage, or it will promote the valuation repair of listed companies in the North Stock Exchange, enhance the liquidity of the secondary market of the North Stock Exchange, and attract more high-quality companies to go public in the North Stock Exchange. The North Stock Exchange said that the transfer mechanism involves the coordinated development of multi-level capital markets. This revision of the Guidelines for Transfer attaches great importance to the protection of investors’ rights and interests, and strives to form an orderly, standardized and normalized transfer arrangement.

  Theme opportunity

  1. Ask the new M7 to set a new high in a single day. The supply chain is expected to benefit.

  According to the official news, the new M7 model of AITO has set a new one-day record during the Mid-Autumn National Day holiday. According to the latest official data, the car reached a "record high" on October 6, with a large number of 7000 vehicles. Since the car was officially listed, the cumulative number of large orders has exceeded 40,000. According to public information, the new M7 in Wenjie is equipped with Huawei ADS 2.0 advanced intelligent driving system, which can realize high-speed and urban intelligent driving without relying on high-precision maps. The new car is equipped with an overhead.27 sensing hardware, including 3 millimeter-wave radars, 11 high-definition visual sensing cameras and 12 ultrasonic radars, support parking service and ultra-narrow parking spaces in the park. In 2023, the sales volume of the world was less than expected for a long time, and the new M7 exceeded expectations to raise the market heat. There is room for exceeding expectations in the future, and related supply chains are expected to benefit. Related companies areWait.

  2、The chip track is hot, and many giants set out to launch their own research products.

  According to foreign media reports,It is planned to launch the first chip specially designed for support (AI) at the Ignite conference in Seattle on November 14th. At the same time, OpenAI, the developer behind ChatGPT, which exploded this year, is exploring to make its own (AI) chip and has begun to evaluate a potential acquisition target. It is also known that,And Google have strategically integrated their artificial intelligence chips into their cloud business promotion activities. The analysis pointed out that this wave of AI was set off by ChatGPT, which triggered Chinese and foreign scientific and technological enterprises to pursue big language models and generative AI and an arms race for computing power. With the emergence of more complex and multivariate models, high computational powerWill fully benefit. At present, although the heat of generative AI and big model has cooled down compared with the beginning of the year,Waiting for the giants to give a strongAnd future guidance, indicating that the industry is still investing heavily in the AI field, optimistic about the long-term trend of AI development. Related companies areWait.

  3. Huawei’s fully liquid-cooled overcharge station went online.

  Huawei officially announced on October 4 that the fully liquid-cooled overcharge station built by Huawei Digital Energy was officially launched in the southern Sichuan-Tibet line and along Litang and Aden highways, with a maximum output of 600kW and a maximum current of 600A, known as "one kilometer per second". The success rate of one charge is as high as 99%, and the charging range from 200 to 1000V matches all models, including, Tucki, Ideal and other passenger cars and commercial vehicles such as cargo Lala. Liquid-cooled overcharge technology is based on the traditional air cooling technology, which introduces liquid cooling module to realize efficient heat dissipation and temperature control of equipment. At present, domestic brand car companies(500kW ultra-fast charging), Tucki (480kW single pile), BAIC (480kW) and FAW (350kW) have all been overcharged, and liquid cooling technology has solved the temperature rise problem of overcharge, which has also become the technical layout direction of overcharge stations.It is said that Huawei’s intelligent and electrified layout has good feedback, which is expected to enhance domestic consumers’ acceptance of smart platforms, liquid-cooled overcharges and other technologies.

  Company news

  1、: trading in the company’s shares will resume at 9: 00 am on October 9.

  : The company has applied to the Stock Exchange to resume trading of the company’s shares from 9: 00 am on October 9, 2023.

  2、: The transaction price of rare earth concentrate in the fourth quarter was adjusted to 20,536 yuan/ton excluding tax.

  (600111) It was announced on the evening of October 8th that according to the pricing method of rare earth concentrate and the price of rare earth oxide in the third quarter of 2023, the transaction price of rare earth concentrate in the fourth quarter of 2023 was adjusted to 20536 yuan/ton excluding tax (dry weight, REO=50%), and the price excluding tax increased or decreased by 410.72 yuan/ton for every 1% increase or decrease of REO. The company will work withRe-signing the rare earth concentrate supply",and in accordance with the newly signed contract to carry out related transactions of rare earth concentrates.

  3、: From "Ex 4: Early Marriage"The range is about 73.49 million to 95.45 million.

  (300027) On the evening of October 8, it was announced that the film "Ex 4: Early Marriage" directed by the main investment of the subsidiary was released in Chinese mainland on September 28, 2023. According to the data of the National Film Office, as of 24: 00 on October 6, 2023, the film was released in Chinese mainland for 9 days, and the cumulative box office income (that is, the cumulative total box office of the film) was about RMB 710 million (the final settlement data may be slightly wrong), which exceeded the audited merger of the company in the most recent fiscal year.50% of operating income. As of October 6, 2023, the company’s operating income from the film was about 73.4882 million yuan to 95.4502 million yuan (there may be errors in the final settlement data). At present, the film is still in release.

  4、It is planned to purchase 100 C919 aircraft from Comac.

  (600115) On the evening of September 28th, the company announced that it had signed the C919 Aircraft Purchase and Sale Agreement with Commercial Aircraft Corporation of China (hereinafter referred to as "Comac") and purchased 100 C919 aircraft from Comac. According to the people of China on the signing date of this transaction agreement.According to the published central parity exchange rate of RMB against the US dollar (1 US dollar to 7.1798 RMB), the catalog price of purchasing 100 C919 aircraft this time is about 71.08 billion RMB. The above 100 aircraft are scheduled to be delivered to the company in batches from 2024 to 2031.

  5、: Xinhua San Information plans to deliver 330 H800GPU series computing servers to Lianhua Kechuang.

  (600186) It was announced on the evening of September 28th that Lianhua Kechuang, a wholly-owned subsidiary of the company, signed the Purchase Contract with Xinhua San Information, a holding subsidiary of Xinhua San. Both parties confirmed that under this purchase contract, Xinhua San Information delivered 330 H800GPU series computing servers (each server contains 8 GPUs) to Lianhua Kechuang, with a total contract price of 693 million yuan.

  6、Performance report: the first three quarters5.199 billion yuan, a year-on-year increase of 12.33%.

  (601888) The performance report was disclosed on the evening of October 8: the net profit in the first three quarters was 5.199 billion yuan, up 12.33% year-on-year, and the revenue was 50.84 billion yuan, up 29.14% year-on-year. During the reporting period, the company paid attention to sustainability and pursued a balanced growth of scale and profit. In the first three quarters of 2023, the gross profit margin of the company’s main business continued to recover, which were 28.75%, 32.47% and 34.27% respectively.

  7、: The net profit in the first three quarters increased by 25% to 34%

  (300146) announced on the evening of October 8, it is estimated that the net profit in the first three quarters will be 1.849 billion yuan to 1.979 billion yuan, an increase of 24.77% to 33.55% over the same period of last year. Benefiting from the increase in market demand for many categories of products brought about by the improvement of national health awareness, the company’s domestic and overseas income achieved rapid growth in the first three quarters.

  8、: The estimated net profit for the first three quarters is 1.2 billion-1.38 billion, with a year-on-year increase of 61%-85%.

  (300118) The performance forecast was released on the evening of September 28th. In the first three quarters of 2023, it is expected to realize a profit of 1.2 billion yuan to 1.38 billion yuan, up by 60.56%-84.65% year-on-year. Benefit from the company’s component capacity expansion and self-supplyCompared with the same period of last year, the sales volume of photovoltaic module products in this period increased, the sales gross margin increased, and the corresponding sales profit increased. In addition, the company’s overseas component production base began to ship stably in this period, which also had a positive impact on the company’s operating performance.

  9、: The sales volume in September was 287,500 units.

  (002594) It was announced on the evening of October 8 that the sales volume in September was 287,500, compared with 201,300 in the same period last year; In September, a total of 28,039 new energy passenger cars were sold overseas. September New Energy Vehicle Power andThe total installed capacity of batteries is about 14.348GWh, and the cumulative installed capacity in 2023 is about 100.931GWh.

  10、: Obtain the fixed-point book of air suspension system product project.

  (000887) On the evening of October 8th, it was announced that AMK Company, a subsidiary company, became a batch supplier of air supply unit assembly products for air suspension system of a new platform project of a head new energy brand main engine factory in China. The life cycle of this project is 5 years, and the total amount of life cycle is about 1.64 billion yuan.

  11、: The subsidiary signed about 65.05 billion yuan.General contracting contract of methanol production chemical complex project

  (601117) It was announced on the evening of October 8, recently, a wholly-owned subsidiary of the company signed a general contract with Russian Baltic Methanol Co., Ltd. for the methanol production chemical complex project. The duration of this contract is 48 months, and the total contract amount is 8.4 billion euros, equivalent to about 65.05 billion yuan.

  12、: Pre-bid for State GridThe Fifth Equipment Bidding Procurement of the Project

  (000400) On the evening of October 8th, it was announced that the company had won the bid for the fifth equipment procurement of the State Grid Project in advance, with an estimated bid amount of 611 million yuan.

  13、: andPeople Data, its platform, signed a strategic cooperation framework agreement.

  (600415) announced on the evening of October 8 that the company signed a strategic cooperation framework agreement with its platform People’s Data., data storage, data empowerment, data operation and other aspects to carry out all-round and multi-level cooperation, establish a long-term, stable and efficient exchange mechanism, and jointly create a trade data ecosystem.

  14、: Received the fixed-point notice of Avatar low-carbon wheel project.

  (002488) It was announced on the evening of October 8th that the company recently received a fixed-point notice from a leading domestic heavy truck enterprise (whose name cannot be disclosed due to confidentiality requirements, hereinafter referred to as the "customer"), and the company will be the supplier of the customer to develop Avatar low-carbon wheel products for it, and the company will complete the product development and delivery according to the customer’s requirements. The above-mentioned projects were mass-produced in October this year, which is expected to have a positive impact on the company’s income and profit level this year.

  15、: signed about 1.424 billion yuan.

  (300324) On the evening of September 28th, it was announced that Beijing Taihao Intelligent Engineering Co., Ltd., a wholly-owned subsidiary, and Huailai Heying Data Technology Co., Ltd. (hereinafter referred to as "Heying Data") respectively signed the Electromechanical Engineering Construction Contract of M2 Computer Room and Supporting Electromechanical Engineering General Contracting Project of Huailai Heying Financial Data Technology Industrial Park Project (Phase II, Phase III) and Project 6 of Huailai Heying Financial Data Technology Industrial Park Project (Phase II, Phase IV).

  16、: Signing major contracts for daily operations.

  (300345) It was announced on the evening of October 8 that the company signed a major contract for daily operation. As stipulated in Contract 1, from the effective date of the contract to December 31, 2026, the company and its holding subsidiary Hongxin New Energy will purchase 56,800 tons of primary polysilicon from Yongxiang Polysilicon, Yongxiang New Energy, Inner Mongolia Tongwei, Yunnan Tongwei and Yongxiang Technology, with an estimated total contract amount of 5.1 billion yuan. Contract 2 stipulates that from the effective date of the contract to December 31, 2026, Meishan Tongwei and its related parties plan to purchase a total of 1,520 million monocrystalline silicon wafers from Hongxin New Energy, with an estimated total contract value of 4.5 billion yuan.

  17、: 48.52 million yuan to acquire 100% equity of CHAM Company.

  (688083) It was announced on the evening of October 8 that it acquired 100% equity of CHAM Company with its own capital of 48.52 million yuan through its wholly-owned subsidiary, Hong Kong Zhongwang; The target company is a company focusing on CFD.A commercial CAE software company that has used CFD technology to provide simulation technology services for the industrial field for 49 years.

  

Second aunt looks at fashion: the CEO of Fulang Group is replaced; De Beers’ high-level reshuffle; Levi’s CEO will retire

21st century business herald reporter Gao Jianghong Intern You Yunqian Zhang Yizhen Beijing Report

Last week, many companies experienced major personnel changes. HanesBrands, the parent company of Champion, appointed a new chief marketing officer, and the senior management of Lanvin Group of Fulang Group and De Beers De Beers Group changed.

In terms of financial report, lululemon’s sales rose by 19% in the third quarter and lowered its annual performance guidance. The performance of British luxury watch retailer Watches of Switzerland did not increase in the first half of the fiscal year.

In terms of brand activities, Ralph Lauren will speed up the layout of the China market and open more than 30 stores every year; LVMH Group will sell a majority stake in the cruise retail business; Alibaba’s representative will withdraw from Farfetch’s board of directors; Amazon will drastically cut the fees of cheap clothing sellers; Balenciaga will set foot in the field of high-end jewelry for the first time; Miuccia Prada and Raf Simons will appear in Prada Shanghai exhibition; and PANTONE will announce the representative color of 2024.

1. lululemon’s sales rose by 19% in the third quarter, and its annual performance guidance was lowered.

Recently, Lululemon, a yoga sportswear brand, released its financial report for the third quarter of fiscal year 2023. In the first three quarters, the group’s sales increased by 20% to $6.414 billion. In the third quarter ended October 29th, lululemon’s sales increased by 19% year-on-year to US$ 2.2 billion, including 12% in North America, 49% in international business, 57% in overall gross profit margin and 2.6% in net profit to US$ 249 million.

For the fourth quarter of fiscal year 2023, lululemon expects net revenue to be between $3.135 billion and $3.170 billion, an increase of about 13% to 14%, which is lower than analysts’ expectations. For fiscal year 2023, lululemon expects net revenue to be between $9.549 billion and $9.584 billion, an increase of about 18%.

However, due to the tightening of spending by consumers, lululemon expects sales in the holiday season to be lower than expected. At the same time as the financial report was released, the board of directors of the group approved an additional share repurchase plan of up to $1 billion.

Comments: The revenue guidance in the fourth quarter lags behind Wall Street’s expectations, which is a rare mistake for this retailer whose performance often exceeds investors’ expectations. However, lowering the performance guidance may also be to achieve "unexpected growth", which is their old routine.

2. Ralph Lauren will speed up the layout of the China market and will open more than 30 new stores every year.

Ralph Lauren will accelerate its development in China market in 2024 and realize long-term and sustainable growth and value creation. Cai Xinhui, CEO of the brand’s China market and Southeast Asia, revealed that Ralph Lauren plans to open more than 30 new stores in China every year in the next few years, which will spread to more smaller cities while occupying a place in major cities.

Comments: In the cold winter of the market, mid-range luxury brands are eager to find a new way out. Although Ralph Lauren has been synonymous with the style of "old money" on social media in the past two years, the market has never reached a consensus on whether Ralph Lauren is a luxury brand. It is a foregone conclusion that refined luxury style will return. As a representative brand of this style, Ralph Lauren’s popularity has been rising in recent two years, especially in the China market. In the little red book, there are more than 90,000 notes related to "old money style". Besides fashion, this style has even penetrated into more subdivided fields such as home decoration, wedding and manicure. Continuing to bet on the China market is a promising move for Ralph Lauren.

3. Watches of Switzerland, a British luxury watch retailer, has no growth in the first half of fiscal year.

In the six months to the end of October, the sales of Watches of Switzerland recorded a year-on-year flat record of 761 million pounds, and the adjusted EBITDA fell by 10% to 94 million pounds, and the operating profit plummeted by 16% to 78 million pounds. By region, income in Britain and Europe decreased by 4% to 433 million pounds, while income in the United States increased by 5% to 328 million pounds.

Comments: Earlier, it was reported that the waiting list of Rolex watches was shortening, and the number of people waiting for some watches was shortened from 10,000 to 8,000, partly due to the cooling of global luxury consumption and reduced market demand. On the other hand, the downturn in the cryptocurrency market has further weakened the demand for luxury watches. It is true that the luxury watch market is blocked.

4. LVMH Group sells a majority stake in the cruise retail business.

French luxury goods giant LVMH Group said on December 8th that it has signed an agreement to sell a majority stake in Cruiseline Holdings Co., the parent company of Starboard & On Board Cruise Services, to a group of investors led by Jim Gissy.

Jim Gissy is the executive vice president of Westgate Resorts, a Florida timeshare company. Starboard was founded in 1958 and is headquartered in Miami. By the end of 2022, Starboard had more than 700 duty-free retail outlets selling handbags, jewelry, watches and beauty products on about 82 holiday cruise ships of companies such as Carnival Cruise Line, Royal Caribbean and Holland America.

Comments: LVMH will remain an "important minority shareholder" of the new entity despite the sale of equity. LVMH said in a statement: "New investors are strategic partners in the field of holiday retail, with innovative culture and growth philosophy." Who can do it for you? Cruise ships are also an important part of the luxury industry, and the development prospects are still considerable.

5. Levi’s CEO will retire.

Levi’s recently announced that CEO Chip Bergh will retire on April 26th next year, and the current president Michelle Gass plans to succeed him as the new leader of the group on January 29th next year. During Chip Bergh’s 12-year tenure, Levi’s has gradually developed into one of the best clothing companies in the world, promoting brand performance to achieve breakthrough growth.

Comments: Bergh reshaped Levi’s brand image, maintained its brand characteristics in the ever-changing competitive landscape, did not blindly pursue the trend, and paid attention to brand marketing. The great hero is about to retire. At present, consumers are increasingly cautious. The prospect of jeans brands or manufacturers like Levi’s, whose income comes from wholesale channels, is full of uncertainty. Can Levi’s new CEO take on the heavy responsibility?

6. Champion parent company HanesBrands appoints a new chief marketing officer.

HanesBrands, the parent company of American Fashion Champion and the American underwear and sportswear manufacturer, announced the appointment of Richard Mcleod as the vice president and chief marketing officer of Champion. In this position, Richard Mcleod will be responsible for promoting Champion’s global brand strategy and omni-channel brand positioning.

It is reported that before joining Champion, Richard Mcleod worked for Canada Goose, a Canadian down coat brand, and served as senior vice president of Canada Goose, responsible for brand development, growth and performance. Previously, he held senior leadership positions in companies such as Foot Locker, LVMH’s Hennessy, Pernod Ricard and Bacardi, and led the marketing activities of well-known wine and spirits brands such as Grey Goose, Bombay Sapphire and D’usse Cognac.

Comments: HanesBrands Group announced its third-quarter financial report, showing that sales decreased by 9.5% year-on-year to $1.51 billion, gross profit margin was 31.1%, and operating profit plummeted by 53% to $66 million. Can the new coach effectively reduce losses and turn losses into profits?

7. The top management of Lanvin Group of Fulang Group has changed greatly.

LANVin Group (NYSE: Lanv), a global fashion and luxury goods group, announced on December 8 Joann Cheng Yun, chairman and CEO of the group, had submitted his resignation to the board of directors and would start a new business in the future.

The board of directors of the group announced the appointment of director Huang Zhen as the new chairman of the group and Eric Chan as the CEO of the group, effective from December 7.

Fulang Group said that the appointment of Chen Jianhao comes at an important moment for the Group to expand the retail market in North America, Europe, Asia and the Middle East around the next stage of its brand growth. Huang Zhen said that Chen Jianhao’s rich experience in the fields of real estate and consumption will provide great value for the next stage of the Group’s growth and expansion of global business.

Comments: Fulang Group has now developed into a global fashion luxury group listed on the NYSE, and has maintained a steady growth momentum in the past few years. The two generals have extraordinary strength. Can they continue to write a chapter?

8. Alibaba’s representative withdrew from Farfetch’s board of directors

China’s e-commerce giant Alibaba recently announced that its president and board member, J. Michael Evans, has resigned from Farfetch’s board of directors, with immediate effect. It is understood that J. Michael Evans has been the president of Alibaba Group since August 2015 and joined the board of directors when Alibaba became a shareholder in Farfetch in 2020.

Comments: Previously, Richemont Group, which is also a shareholder, said that it would not undertake any financial obligations to Farfetch and did not intend to provide loans or investments to Farfetch. Ali also made a statement now, and Farfetch’s prospects were not good. Judging from the global situation of consumers returning to offline consumption experience, the reduction of non-essential expenses and the overall slowdown of luxury goods industry this year, Farfetch’s sudden departure seems to be certain.

9. The demand for diamonds is sluggish, and the giant De Beers has reshuffled its top management.

De Beers, the world’s largest diamond supplier, announced on Monday that two senior executives, namely David Prager, executive vice president and chief brand officer, and Ryan Perry, executive vice president of strategy and innovation agency, will remain on the executive committee until a successor is found. David Prager and Ryan Perry will continue to serve on the Executive Committee and oversee the transition of their responsibilities to other members. Tom Johnson is appointed as the general counsel, with effect from January 1, 2024. He will join the Executive Committee and be responsible for supervising the company’s legal and secretariat functions.

Comments: A series of personnel changes are considered as necessary measures for De Beers to cope with the current global diamond industry crisis. According to media reports, the global demand for diamonds has dropped to the lowest level since the epidemic, because global economic challenges continue to affect people’s demand for luxury goods. However, what needs to be more vigilant is the impact of the laboratory cultivation diamond industry on natural diamonds.

10. Amazon slashed the fees of cheap clothing sellers to meet the challenges of Shein and Temu.

Amazon, an American e-commerce giant, is slashing the fees for clothing sellers with prices below $20. The transaction fees for clothing products with prices below $15 will be reduced to 5%, and those for clothing with prices between $15 and $20 will be reduced to 10%, compared with 17% in the past.

Lucas Barnes, a former Amazon executive, said, "This will make Amazon more competitive in the field of low-priced clothing, because a dollar or two can make a big difference."

Comments: Although the company did not explain why it did this, it is widely believed that this shows that Amazon is preparing to fight a price war with China’s cross-border e-commerce companies Shein and Temu.

11. Open up new maps! Balenciaga set foot in the field of high-end jewelry for the first time.

The French luxury brand BALENCIAGA and Jacob & Co cooperated to create the "Diamant" high-end jewelry series, which was unveiled at the fall fashion show in 2024. This is the first time that Balenciaga has set foot in the field of high-end jewelry. It is understood that the series is made of 18-carat white gold and diamonds, including a large and heavy necklace and bracelet, a text theme style called "Typo", including a thin necklace and an oversized two-finger ring, designed to spell the word BALENCIAGA in a handwritten font style, and each diamond is hand-inlaid. Balenciaga x Jacob & Co. series has been exclusively booked on Rodeo Drive immediately after the show, and each model is customized for individuals. The production and delivery cycle is 3 months.

Comments: Since Demna Gvasalia became the new design director of Balenciaga, a lot of popular global fashion products have emerged. With exaggerated design and high price, the new products have a strong topicality, which often explodes the Internet. It is precisely this controversy that makes Balenciaga have a high flow among luxury brands, and it has risen rapidly in the fashion circle, and the products have become a proper out-of-stock king. What new trend will it bring when it comes to high-end jewelry this time?

12. Miuccia Prada and Raf Simons appeared in Prada Shanghai Exhibition.

To celebrate the opening of Pradasphere II exhibition in Shanghai START Star Art Museum, Prada co-creative directors Miuccia Prada and Raf Simons, as well as a group of brand executives appeared at the event site. This exhibition is the second appearance after the Pradasphere exhibition was successfully held for the first time in 2014, and will be open to the public free of charge from December 7 to January 21, 2024. The exhibition traces the history of Prada since its founding in 1913, and exhibits more than 400 physical and digital works of art, including the collection of fashion archives and the achievements of cross-border cooperation with art, architecture, culture and sports for decades.

In addition, Prada CEO Gianfranco D’Attis said that the company’s goal is to double its business in China in the medium term. Prada will open more stores, launch more localized products and marketing activities in China market. This means that the corresponding investment will increase, including opening larger stores, launching more localized products and holding more marketing activities. He also revealed that Prada plans to take the hotel concept as part of its globalization strategy and may launch it in 2024-2025.

Comments: After the construction of "Prada Universe" is completed, it is not difficult to see its ambition of further becoming upstream. To achieve this goal, the China market is a key link.

13. PANTONE announces the representative color of 2024.

PANTONE, an international color authority, recently released the representative color of 2024, and named it "Peach Fuzz" after PANTONE 13-1023. This is a comfortable and warm peach color, which just blends the elements of pink and orange, showing a fresh, soft and emotional atmosphere.

Since 2000, PANTONE has made annual color forecasts, which are selected through in-depth trend forecasts and socio-economic conditions, lifestyles and political influences (such as fashion, entertainment and tourist destinations).

Comments: Looking back at the popular colors released by Pan Tong in recent years, Viva Magenta, Very Peri and Illuminating Yellow all represent high saturation. At present, the pressure of life and work is great, and the popular colors turn into softer tones, which seems to correspond to "harmony" and "recovery"”。

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