爱上海419论坛-阿拉上海后花园419-夜上海最新论坛社区-上海品茶工作室

　　Guangdong actively explores "industrial internet plus’s safe production", and around the goal of "comprehensively strengthening the safety management and control of key vehicles by using intelligent and informational means", Guangdong fully promotes the construction of an intelligent monitoring and early warning integration platform for key vehicles with "two passengers, one danger and one heavy cargo", realizes "six breakthroughs" and makes great efforts to solve the difficult problem of road transportation safety supervision.

　　Realize a new breakthrough in intelligent supervision ability

　　Using face recognition and other technical means, the driver’s unsafe driving behavior is intelligently analyzed and automatically and in real time warned. Access the real-time monitoring data of the vehicle to realize the visible and controllable running trajectory, speed and unsafe driving behavior of the driver.

　　Achieve a new breakthrough in data fusion and sharing

　　It is the first in China to organically integrate the data of road transport enterprises, third-party institutions, public security, transportation and other regulatory departments to build a risk analysis model. Push the risk analysis weekly report to the relevant regulatory authorities and personnel through "Guangdong Government Easy" to solve the problem of scattered data and separate departments.

　　Achieve a new breakthrough in early warning information processing

　　Through the construction of an early warning monitoring center, a special person will be on duty all day, tracking and handling the early warning information of high-risk vehicles and dynamically upgrading the degree of intervention, focusing on solving the problem that key vehicles are "no one is in charge of enterprises and the government can’t manage them".

　　Achieve a new breakthrough in risk analysis and prevention and control

　　By establishing and gradually iteratively upgrading the risk intelligent calculation model, the risk score of each road transport enterprise and vehicle can be accurately calculated, and the risks of transport vehicles, enterprises and drivers can be dynamically ranked, and the real-time synchronous sharing of departmental information can be realized through big data center and "Guangdong Government Easy".

　　Achieve a new breakthrough in expanding supervision and improving efficiency

　　At present, the integration platform has achieved "full coverage" of vehicle data of "two passengers and one danger" and electronic waybill management of dangerous goods in the province, and has access to satellite positioning data of about 760,000 key vehicles operating in Guangdong throughout the country, so as to realize positioning early warning such as vehicle speeding. The Provincial Department of Transportation deployed the intelligent video installation of 325,000 heavy trucks in the province. The Provincial Public Security Department promoted the construction of 19 inter-provincial highway checkpoints and 25 law enforcement checkpoints in key service areas, so as to improve the law enforcement investigation rate of preview information pavement.

　　Realize the main responsibility and make a new breakthrough.

　　Use "Guangdong Business Connect" to connect enterprise data, realize direct access to risk information, and get through the "last mile" of supervision. After the integration platform was officially launched on February 3, the first "ticket" was issued to road transport enterprises: the driver of a company in Huizhou had serious unsafe driving behavior, and after being monitored and warned by the integration platform, the company fined him 1800 yuan.

　　Through practical application, the application object of monitoring data is gradually covered from "single vehicle" to "people, vehicles and enterprises", the management link is extended from "accountability afterwards" to "prevention beforehand", the management means is upgraded from "crowd tactics" to "technical defense tactics", the law enforcement supervision is linked from "on-site law enforcement" to "online and offline", and the management purpose is changed from "violation handling" to ".

　　Reference message networkReported on March 18th.German media said that China has been the country with the most patent applications for many years. However, the number of patent applications in China now exceeds that of Europe, Japan, the United States and South Korea combined for the first time.

　　According to the website of Deutsche Welle Radio on March 11th, China has accelerated the pace of catching up in the field of innovation. According to the bulletin of the European Patent Office on March 7th, a China enterprise submitted the most patent applications in Europe for the first time, ranking first with 2,398 patent applications.

　　The European Patent Office pointed out in Brussels that China has also consolidated its position in the country rankings, ranking fifth in Europe for the first time, second only to the United States, Germany, Japan and France.

　　According to the report, globally, China has become the largest country in patent application since 2011. The new phenomenon is that the number of patents filed in China exceeds the sum of the United States, Europe, Japan and South Korea for the first time. This figure comes from a report written by the World Intellectual Property Organization (WIPO) according to the situation in 2016.

　　The World Intellectual Property Organization belongs to the United Nations and is located in Geneva. Fink, the organization’s chief economist, pointed out that the numbers themselves still convey a clear signal: "They show China’s growing innovation".

　　The report believes that this development is in line with the goal announced by the China government, that is, to realize the transformation of the national economy — — Transforming from a world factory to an innovative country and expanding the domestic market.

　　According to the report, most patent applications in China come from the field of digital communication. Internationally, digital communication also belongs to the strongest patent field, surpassing medical technology and pharmaceutical industry. Only the fields of computer technology, mechanical manufacturing and measurement technology have more patents.

　　Stanting, a professor of economics at the University of London, believes that China’s growing position in the patent field also helps to explain the existing protectionist tendencies in American economic policy under Trump.

　　According to the report, historically, the United States has been a driving force for consolidating patent protection in international trade. One of its means is to formulate the relevant provisions of the Trade-related Intellectual Property Rights within the framework of the WTO or the free trade agreement. Thus formed a system. Professor Standin believes that this system has benefited the American economy for a long time. However, this system also gives patent owners excessive power. He pointed out that American enterprises — — Facebook, Amazon, Google’s parent company Alphabet, Apple and Microsoft are notable examples.

　　According to the report, in the past ten years, these five companies have acquired a total of 519 enterprises, which not only eliminated their competitors, but also owned patents and guaranteed their "monopoly income".

　　However, except for a few "technological superstars", the United States is generally in a dilemma. Professor Standin told Deutsche Welle that Trump is now pointing his finger at China, which only shows that the United States has lost its hegemony in this field. "This is quite ironic," he pointed out. "Suddenly, China has become an equal competitor, and the United States is no longer the king of the jungle."

　　Stan Ding said that the world is entering a meaningful stage of power shift. He believes that Trump is trying to play the role of "the king of the jungle" again, and he does not hesitate to use protectionist measures to prevent China from achieving a similar rise. However, he didn’t believe it would work. He said: "China is too big and too dynamic, and it is difficult for the US to succeed."

　　Profile photo: On December 2, 2017, at the 4th world internet conference Internet Light Expo held in Wuzhen, Zhejiang, visitors communicated with family doctors online through home smart terminals. Xinhua News Agency reporter Li Xin photo

　　() The Record Form of Investor Relations Activities was released on September 13th, and the company was investigated by a fund company on September 12th, 2024. The main contents of investor relations activities are introduced:

　　Q: What is the company’s overseas light truck export sales at present, and what are the main growth areas?

　　A: From January to August 2024, the company exported 76,000 light trucks, up 55% year-on-year. Among them, South America, Southeast Asia and other markets grew rapidly.

　　Q: How does the company maintain its leading position in light truck business?

　　A: The company will continue to maintain the leading position in product strength, increase investment in product development, accelerate the iterative upgrade of the platform, and maintain the industry-leading competitiveness of the platform; Through the integration of product modules, we will simultaneously promote the integration of supplier systems and give full play to the advantages of scale; Continuously innovate marketing capabilities, promote the transformation of distribution channels to full value chain business capability dealers, and enhance the effect of brand promotion and clue transformation through live broadcast+short video; Promote overseas industrialization and localization, persist in investing resources to break through the core industrialized market, accelerate the transformation of key market models, and develop post-market business; At the same time, we will continue to promote cost reduction and efficiency increase in the whole value chain and enhance the profitability of light trucks.

　　Q: What is the company’s development in the Internet of Vehicles?

　　A: The company has one of the largest commercial vehicle networking platforms in China, providing digital solutions for many industries. At present, there are over 2.7 million vehicles connected to the platform, and more than 8.5 billion pieces of data are connected daily. Through the integrated analysis of vehicle data, the company can calculate the prosperity index of sub-region, sub-model and sub-scene, helping suppliers, dealers and service providers to optimize resource allocation and improve operational efficiency. Driven by the index, upstream and downstream enterprises in the industrial chain accelerate digital transformation, rationally optimize resource allocation, and achieve an overall production efficiency increase of more than 10%;

　　Details of participating institutions are as follows:

Name of participating unit Category of participating units Name of participants Huatai bairui Fund company —

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　　Cctv news(Reporter Xu Hui): On January 23, Gaoyang County Office of the Leading Group for Response to the COVID-19 Epidemic released a briefing on the handling of illegal behaviors of Li Moumou, a cold chain employee. Li Moumou in this county repeatedly altered his and his wife’s the State Council client nucleic acid test certificate. Gaoyang County Public Security Bureau detained Li Moumou for 11 days and fined 600 yuan.

　　According to the report, according to the relevant regulations of provinces and cities, cold chain practitioners should conduct nucleic acid testing every week. After investigation by the police, it was found that Li Moumou, the person in charge of an aquatic product store in Gaoyang County, repeatedly altered his and his wife’s the State Council client’s nucleic acid test certificate from January 4 to January 18, 2022, and reported the altered certificate, so it was assumed that the two had carried out the nucleic acid test on schedule. Li’s behavior belongs to "forging, altering or buying and selling official documents, certificates, supporting documents and seals of state organs, people’s organizations, enterprises, institutions or other organizations". According to the first paragraph of Article 52 of the Law of People’s Republic of China (PRC) on Public Security Administration Punishment, Gaoyang County Public Security Bureau detained Li for 11 days and fined 600 yuan.

　　[Original test drive] Before this experience activity was held, no matter whether it was a car chat with everyone or a serious article, this car was hardly involved. Last time I mentioned it in my impression, a friend who didn’t know much about cars asked me, "What brand is this winged logo?" From Janes until now, it is a very low-key niche model. However, Jens, who is equipped with HTRAC four-wheel drive system today, took us to Jingang International Circuit. It seems that the movement is not small!

● The temptation of V6 self-priming and electrically controlled four-wheel drive system.

　　As usual, let’s first take a look at the basic situation of the test drive vehicle today. The main target of our test drive today is the Jeens 3.0L four-wheel drive model (hereinafter referred to as Jeens HTRAC) equipped with the HTRAC four-wheel drive system. Both high and low vehicles appeared in this activity, and time is limited, so I won’t talk too much about the specific vehicle configuration this time, so let’s focus on the mechanical part directly.

　　Well, I did "title party" a little above. It’s just a 3.0L V6, and the temptation doesn’t look great. But if you think about it carefully, according to the price after the discount, the cheapest Jens 3.0GDi four-wheel drive business version is about 340,000, and this money is spent on the top three German companies, which is just enough to buy an entry-level 2.0T model, while if you spend it on the peace, you can only buy a 2.5V6 model. If 3.0L is your car threshold, it seems quite attractive.

　　When it comes to 8AT, the first thing that comes to mind is ZF’s 8AT, and the second one is Aisin’s 8AT. Like Jens, the 8AT developed by Hyundai itself is probably the forgotten object again … Let’s see if its performance can leave a deep impression.

　　This is the protagonist today, the HTRAC four-wheel drive system developed by Hyundai and Magna. Although the manufacturer introduced at the analysis meeting that this four-wheel drive system is different from the new four-wheel drive system, from the general structure, HTRAC and xDrive have the same effect. First of all, they are all four-wheel drive systems based on the front and rear drive platforms. Secondly, inside them, they all adopt electronic control multi-plates, and the power of the front and rear axles is freely distributed through electronic control instructions. According to the data, the front and rear axles of Jenns HTRAC have also been assembled. After having a certain understanding of this four-wheel drive system, let’s take a look at its actual performance.

● Track test ride experience

　　At the product briefing before the start of the test drive, the manufacturer mentioned one thing-Jens and this HTRAC system have been tested for a long time at the North Ring Circuit. This reminds me of a sentence: "Why should every car be developed in nursing?" Although this is a tongue-in-cheek remark, we still have to admit that "Green Purgatory" is really a good place to adjust the vehicle (far from the point …).

　　Since the conquest of New North, the organizers naturally put Jens HTRAC on the Jingang circuit with confidence. It’s a pity that this time we didn’t have the chance to drive on the track in person, but sat in the co-pilot seat next to the professional racing driver of CTCC and felt the performance of Jens HTRAC on the track.

　　The driver didn’t hold back the speed and started at full throttle, and Jens HTRAC accelerated at full speed without any slippage, but linear acceleration was not the focus of the experience. When we cut into the No.3 corner (hairpin corner), the vehicle just showed some trend, and the four-wheel drive system quickly intervened to transfer the front and rear power. Under the interference of the four-wheel drive system, the usually continuous tire sound becomes intermittent. With the four-wheel drive system, drivers can control the route more accurately. If you step on the accelerator deeply when you are not completely out of the corner, the rear of the car will be thrown out a little restlessly.

　　In addition to obviously experiencing the active work of the four-wheel drive system, the second deep impression that this Jens HTRAC gave me was its comfort. When the driver uses every shoulder, I can’t feel the stimulation brought by the G value when sitting in the co-driver’s position. On the contrary, the vibration that is filtered under my feet makes me feel that this car is quite comfortable on the track …

● Experience of project test drive

　　After the test ride on the track, we have a period of time to experience Jens HTRAC for ourselves.

　　The first thing to do is to accelerate the experience of 0-100km/h, and walk. In order to ensure safety, the coach didn’t let the body stability system be turned off, but even if it wasn’t turned off and the brakes and accelerator were pressed at the same time, the engine could still hold back to about 2500rpm before starting. Maybe too many cars have been driven recently, and the linear power output of naturally aspirated engine makes people feel very unsatisfied, but the speed will soon reach 100 km/h. However, I found it more interesting to get off and watch others run this project. Because the sound insulation in the car is better, I didn’t remember the sound of this V6 engine just now, but after I got off the bus, I heard its rumbling sound, and I realized that this is the momentum that V6 engine should have.

　　During today’s test drive, the performance of this gearbox at least didn’t leave a bad impression on me, and the logic of dealing with various acceleration and deceleration situations is quite clear. Generally speaking, the gearbox is also biased towards a smooth style, and even in Sport mode, it does not give people a very abrupt shift feeling.

　　Jaynes HTRAC has adopted the structure before and after, and its performance is soft in continuous pile winding and U-bend, as can be seen from the above picture. After all, the positioning of this car is still a comfortable medium and large car. I don’t think most Jens owners will just drive around a pile. However, the feeling in the car is not so exaggerated, and you can feel the roll, but it won’t make people feel too uncomfortable.

　　Subject to the soft suspension, when braking suddenly, Jens HTRAC’s posture is not very good, and passengers in the car will obviously feel the front of the car sinking. In normal driving, the foot feel of the brake pedal is still good, and it is easy to control the braking range. In addition, when braking suddenly, the brake light will enter a "flashing" state and remind the rear car by flashing continuously.

　　In 2024, the "new gambling game" between Lei Jun and Dong Mingzhu once again ushered in the acceptance moment.

　　Dong Mingzhu took another step forward in building cars.

　　Enterprise investigation shows that on October 11th, Shanghai Gree Automobile Technology Co., Ltd. was incorporated, and its legal representative is Zhong Chengbao. At present, he is the assistant to the president of Zhuhai () Co., Ltd. and the general manager of Zhuhai Gree Intelligent Equipment Co., Ltd.. The company has a registered capital of 20 million yuan, and its business scope includes research and development of auto parts, manufacturing of auto parts and accessories, manufacturing of industrial robots, and sales of industrial robots.

　　According to the equity penetration chart, Shanghai Gree Automobile Technology Co., Ltd. is jointly owned by Shanghai Jieyingtu New Material Technology Co., Ltd. and Zhuhai Gree Intelligent Equipment Co., Ltd. under Gree Electric. This move is regarded by the market as Gree once again overweight the layout of new energy car tracks.

　　In 2016, after Dong Mingzhu personally held shares in Zhuhai Yinlong New Energy (hereinafter referred to as "Yinlong"), he began to formally set foot in the car-making business. Yinlong gradually became a holding subsidiary of Gree Electric, renamed Gree Titanium New Energy, and deeply cultivated the business technology of new energy buses and lithium titanate batteries. However, in the eight years since it was acquired by Dong Mingzhu, Yinlong’s performance began to decline in 2017. As of June 30, 2024, the total debt of Gree Titanium New Energy was 24.786 billion yuan. Dong Mingzhu, who makes cars across the border, has been filling the "pit" of Gree Titanium. "The pit has a process of filling, which I think is very promising." Dong Mingzhu had previously said.

　　As early as 2013, Dong Mingzhu and Lei Jun gambled on their operating income ten years later. In 2019, Dong Mingzhu shouted to Lei Jun: "Don’t want 1 billion yuan, gamble for another five years": bet on who can make the world really fall in love with China manufacturing because of their products and technology; Second, bet on who can become the world leader in his own industry. In 2024, the five-year "new gambling game" between Lei Jun and Dong Mingzhu once again ushered in the acceptance moment.

　　"Building a car is a century-old track." Lei Jun, who started to build cars across the border three years ago, believes. For Dong Mingzhu, who also has her own topic, Gree’s car-making business failed to have the positive blessing of traffic like Xiaomi’s, but Miss Dong was unwilling to let go easily.

　　Eight-year "Car Bureau": Input, Loss and Acquisition

　　Dong Mingzhu and Lei Jun’s billion-dollar bet continued from air conditioning to building cars. Xiaomi, who has been building cars for three years, has become a dark horse in China auto market this year, while Gree, who has been working on the car-building track for eight years, has not yet entered the harvest period.

　　As early as 2016, Dong Mingzhu had the idea of building a car, only one year later than today’s star new car company Ideal and Weilai. At that time, Dong Mingzhu wanted to buy 100% equity of Zhuhai Yinlong New Energy with 13 billion yuan, but failed to pass the collegial meeting of shareholders on November 16th. In Miss Dong’s view, small and medium-sized shareholders are "shortsighted", and she firmly believes that "although we didn’t succeed in the acquisition, we must be a new energy vehicle."

　　Less than a month later, Dong Mingzhu still "put all your eggs in one basket" and took a stake in Yinlong with his personal assets. At the same time, she also brought Dalian Wanda, Jiangsu JD.COM Bangneng Investment Management Co., Ltd., () and other enterprises to jointly increase the capital of Yinlong by 3 billion yuan.

　　At that time, some new car-making enterprises in the new energy vehicle market began to emerge, and traditional car companies such as Geely, BAIC, Jianghuai and Changan were all testing new energy sources. Why does Dong Mingzhu prefer Yinlong, which was established only eight years ago?

　　Yinlong once made a difference in the new energy bus track. In 2016, Yinlong’s business was mainly the manufacture of new energy buses and lithium batteries. On the track of commercial vehicles, there is a blessing for the development prospect of new energy vehicles, and Dong Mingzhu is firmly optimistic about the future value of Yinlong. In the next two years, Yinlong proved Dong Mingzhu’s vision with sales. In 2017, Yinlong New Energy Bus ranked fourth in the country with an annual sales volume of 6,626 vehicles; In 2018, its sales volume increased to 7,278 vehicles, second only to Yutong and (), ranking third.

　　But the blow followed. In January 2018, Yinlong was repeatedly exposed to arrears in supplier payment, and there was a problem in the capital chain. By November 2018, Yinlong exposed its "dirty laundry" and publicly disclosed that its major shareholder Yinlong Group, actual controller Wei Yincang and former executive Sun Guohua were suspected of encroaching on the company’s interests by over 1 billion yuan. In 2019, the sales volume of Yinlong New Energy Bus declined in a cliff-like manner, with the annual sales volume of only 2,708 vehicles, down 62.76% year-on-year. The following year, Yinlong began to lose money continuously, and even began to be auctioned by Zhuhai Intermediate People’s Court. By the end of 2020, Yinlong’s liabilities had exceeded 22.5 billion yuan.

　　Although "Yinlong became a hole", Dong Mingzhu still insisted on buying Yinlong. In August, 2021, Gree acquired 30.47% equity of Yinlong New Energy for 1.83 billion yuan through public bidding through judicial auction. In addition, 17.46% equity previously held by Dong Mingzhu was entrusted to Gree, and Yinlong officially became a holding subsidiary of Gree Electric, and was later renamed Gree Titanium New Energy (hereinafter referred to as "Gree Titanium").

　　Gree’s blood transfusion also failed to rejuvenate the sales of Gree Titanium. In 2022, Gree Titanium sold 1,789 buses, down 11.65% year-on-year. In the same year, the sales of new energy buses in (), Suzhou Jinlong and () ranked in the top three with 11,515, 5,306 and 5,032 respectively.

　　Dong Mingzhu said in March 2024 that she believed Gree Titanium New Energy could turn losses into profits that year. According to Gree’s mid-year report in 2024, as of June 30, 2024, Gree Titanium New Energy had a total debt of 24.786 billion yuan and a net loss of 1.905 billion yuan. However, according to Gree Electric’s financial report, the net profit of home appliance business can still cover the loss of car-making business, but the commercial vehicle track, lithium titanate battery and hydrogen fuel power battery technology bet by Gree Titanium have not yet entered the harvest period.

　　For entering the field of new energy vehicles, Dong Mingzhu has publicly stated that he has no regrets. The newly established Shanghai Gree Automobile Technology Co., Ltd. once again confirmed Dong Mingzhu’s determination.

　　"The pit has a process of filling up, and the dawn is ahead."

　　The road of building cars is a new way out for Gree by Dong Mingzhu. Gree has been seeking diversified development since 2012, which is also a strategy that Dong Mingzhu vigorously promoted when he took over Gree.

　　She is keenly aware that the era of high growth of household air conditioners is gradually coming to an end. According to the data, from 2010 to 2015, the year-on-year growth rate of Gree’s operating income gradually declined. Dong Mingzhu’s task is to lead Gree to find a new growth curve. To this end, she has tried mobile phones, small household appliances, new energy, medical care and even prepared vegetable tracks.

　　Dong Mingzhu started with car air conditioning business. After personally taking a stake in Yinlong, Dong Mingzhu said that Gree Electric had been studying automobile air conditioning three or four years ago and had fully mastered the technology of this product. In 2017-2018, Yinlong, which was in full swing, made Dong Mingzhu see the hope of Gree’s transformation, and also planned to enter the new energy car track vigorously in the future.

　　Dong Mingzhu attaches great importance to the layout of battery business. Except for the new energy bus business, Gree Titanium has always chosen lithium titanate as its own technical route. In the field of new energy vehicles, lithium carbonate and its derivative battery products, Ferrous lithium phosphate and ternary lithium battery, are widely used at present. Dong Mingzhu’s "safer" lithium titanate battery has low energy density, so its application space in domestic transportation field is relatively small. "We chose this project not to make money, but to do it because of future development needs." Dong Mingzhu has publicly stated.

　　However, Gree Titanium, which insists on the lithium titanate battery track, also shows signs of compromising to the market. Enterprise investigation shows that Gree Titanium is laying out lithium iron phosphate batteries. On June 11th, 2024, Gree Titanium applied for a patent named "Lithium iron phosphate battery and its preparation method". Although Gree Titanium, which went out to sea in the past two years, has gained a small number of foreign orders for energy storage business and new energy buses, its technical investment has not been realized enough.

　　In the upstream and downstream of the car-making industry, Gree also intends to lay out. In 2022, Gree Electric invested RMB 3 billion to hold () 410 million shares, accounting for 38.78% of the company’s total share capital after issuance. The latter is a leading enterprise in the refrigeration component industry, and the company’s main business is divided into two parts: refrigeration parts business and refrigeration equipment business, and thermal management business of new energy vehicles. In the field of auto parts, the main business of Gree Intelligent Equipment established in 2015 is to provide GA-GF2755 CNC machine tools for high-speed and high-precision machining of new energy auto parts. Gree Intelligent Equipment is a wholly-owned subsidiary of Gree Electric, which once provided support for Tesla parts manufacturing.

　　Li Bin, CEO of Weilai, said "Don’t build a car without 20 billion yuan", which is also applicable here in Dong Mingzhu. Judging from Dong Mingzhu’s car-making actions, it is still the main means to make a car with the revenue of the parent company as the guarantee, and vigorously purchasing and widely distributing it. However, the most fundamental purpose of building a car is to sell cars. Without new business income, Gree Titanium has also become the only loss source of Gree Group, and surviving is the top priority.

　　In terms of financing, Gree Titanium has no other sources of funds except the support of Gree Electric and Dong Mingzhu. According to the announcement, in December, 2023, Gree Electric announced that Gree Electric further increased its shareholding in Gree Titanium to 72.47%, and planned to wholly hold Gree Titanium in the future. Enterprise investigation shows that except for Gree’s increase in holdings, Gree Titanium has not gained any financing in the past five years.

　　It’s not too late for Dong Mingzhu to build a car, but when the industry took off, it failed to get dividends and gain market share. Instead, it gradually fell behind. "Gree Electric will not enter the field of new energy family cars for the time being." In February 2022, Dong Mingzhu said. The new energy bus track has never been the mainstream competition field of new energy. Limited by the demand for buses in the B-end market, it is unlikely that its market cake will become bigger. The report shows that the domestic new energy bus sales market will be around 40 billion yuan in 2022, and it is estimated that the market size will be 47 billion yuan by 2028.

　　The new energy bus industry leader appears, and its market share is further concentrated. According to the data of China Bus Statistics Information Network, in the first half of 2023, Yutong Bus ranked first in China, accounting for nearly 15% of the sales volume, followed by Foton Ouhui, BYD and Jinlong Bus, all of which accounted for more than 10% of the sales market. This also means that in the new energy bus track, Gree Titanium, which has not successfully run out of results, is under great pressure.

　　Consistent with Dong Mingzhu, in order to find new growth points, many home appliance industries are aiming at new energy vehicles. Midea and Haier, which have not officially built cars, also have automobile business layouts. () Through its subsidiary Weiling Auto Parts Company, it has officially entered the field of new energy auto parts. Haier Group focuses on using its industrial Internet platform and smart home technology to cooperate with car companies.

　　There are also many home appliances that directly enter the car. As early as 2010, Huang Hongsheng, the "king of color TV", has begun to lay out new energy commercial vehicles and passenger cars. In September this year, Skyworth Automobile, founded by Huang Hongsheng, announced that it would launch a modified model of its medium-sized SUV and the first A-class compact crossover product in 2025. According to the official data of Skyworth Automobile, the total sales volume in 2023 was 18,630 vehicles, with an average monthly sales volume of about 1,500 vehicles, while the monthly sales volume of zero-running vehicles in the same period was about 12,000 vehicles. On September 17th, this year, Sharp presented a conceptual model "LDK+" of an electric vehicle (EV) in Tokyo, Japan, and said that Sharp will officially launch the pure electric vehicle business.

　　Compared with peers, there is a certain gap in the performance of Gree Titanium. However, Dong Mingzhu is still optimistic. At the Gree shareholders’ meeting in June 2023, "there is a process of filling the pit, which I think is very promising." Dong Mingzhu said, "The dawn (of Gree Titanium) is ahead."

　　The knockout round of cross-border car-building has already started. When will the stones invested by Dong Mingzhu stir up water?

In the mixed circle, there is a saying that there are only two kinds of hybrids in the world, one is Toyota hybrid and the other is others. This is enough to prove the recognition of Toyota THS hybrid system in the industry. Today, we will talk about the planetary gear mechanism, the core component of this world-renowned hybrid system.

Toyota THS hybrid system is mainly composed of Atkinson cycle engine, permanent magnet motor, planetary gear mechanism, generator, high-performance nickel-hydrogen battery, power control unit and power control unit.

The core of the whole system is this planetary gear mechanism, that is, the E-CVT transmission in the media population. However, although it is called a transmission, it does not have such complex mechanisms as clutches, torque converters or gear shafts in the traditional transmission system, and it is a power distribution mechanism specially prepared for hybrid vehicles (the official name of Toyota).

So what are the advantages and disadvantages of Toyota’s system, and what are the differences between them compared with other hybrid systems on the market? This article will be reflected one by one.

1. Why does Toyota develop the E-CVT transmission?

E-CVT transmission is the key to the whole hybrid system, and the original intention of all hybrid systems can actually be attributed to energy saving and emission reduction, as was Toyota’s launch of THS that year.

In the early 1990s, the words such as "sustainable development", "global warming" and "greenhouse effect" began to be known around the world. Under this background, Toyota began to study "automobile development model in the 21st century" and launched a project called "G21" (G stands for Globe 21 and stands for 21st century). Toyota Hybrid Power System (THS) also began to sprout at this stage.

In 1995, Toyota released the Prius hybrid concept car at the Tokyo Motor Show. Two years later, in 1997, Toyota’s first generation Prius hybrid car went on sale in Japan, which was Toyota’s first mass production model based on THS hybrid system and the first model born under the Toyota MC platform.

Here, Toyota’s hybrid world door is officially opened.

Second, at present, the THS hybrid system has developed to which generation, and which models are it mounted on?

As mentioned above, the core of THS system is actually the E-CVT transmission, that is, the planetary gear set, and the iterative upgrade of Toyota THS system is almost around the planetary gear set.

The first generation THS hybrid system was born in 1997, and it was first mounted on Prius. Its planetary gear set consists of three parts: sun gear, planet carrier and outer ring gear, which correspond to three power sources in turn: the engine is connected with the planet carrier; Sun gear is connected with the MG1 motor; The gear ring is connected with the MG2 motor.

Through precise and complex control, this planetary gear set can shunt the engine and use the motor to adjust the speed, so that the engine has been in an efficient working range, so as to achieve the purpose of saving fuel.

In 2003, Toyota introduced the second generation THS hybrid system, but the upgrade of the second generation THS hybrid system was mainly in the aspect of electronic control, and the structure of E-CVT transmission did not change much.

In 2009, Toyota introduced the third generation THS (officially called the second generation, but the industry prefers to call it the third generation). Compared with the second generation THS, it added another planetary row on the basis of the original planetary row. The second planetary row is connected with the gear ring of the first planetary row, the MG2 motor is connected with the sun gear, and the planet carrier is fixed, as shown below:

In this way, the second planetary row becomes the deceleration mechanism of MG2 driving motor, and the output torque is increased by reducing the rotation speed, so the third generation THS of Toyota has better power performance than the previous two generations. Not only that, because of the addition of a first-stage reducer, the cumbersome chain drive was replaced by a lighter and smaller gear drive, which greatly improved the transmission efficiency.

However, due to the limitation of planetary gear structure, the speed of MG2 driving motor is limited by the limit speed of MG1, so the speed of this system in pure electric mode cannot be very high (about 70km/h).

In order to better adapt to the development of the industry, Toyota introduced the fourth generation THS in 2015. In terms of structure, the most significant change in this upgrade is to change the planetary gear added by THS-III into a parallel shaft gear, and at the same time put the MG2 driving motor in the side position.

The obvious advantage is that the axial dimension of this system is reduced by 47mm, which is undoubtedly a technological innovation in the horizontal platform with an inch of land and gold. It can not only adapt to engines with larger displacement, but also make the power of MG2 driving motor higher.

In addition, Toyota also introduced a plug-in hybrid system based on the fourth generation THS in 2016. Its main change is to add a single clutch between the engine and the MG1 motor.

The function of the one-way clutch is that when the MG1 motor participates in the driving function (more often used for starting and generating electricity), it will not drive the engine to rotate together, and at the same time, it forms a dual-motor drive with the MG2 driving motor.

The structural diagram of this one-way clutch is as follows. The structure determines that it can only rotate in one direction.

From the year, Toyota E-CVT has gone through several iterations, as shown in the following figure:

(first generation THS)

(second generation THS)

(third generation THS)

(fourth generation THS)

In addition, there are hybrid systems applied to vertical platforms (the version code has not been found yet), such as Lexus LS and Lexus GS. Compared with the ordinary version of THS hybrid system, it connects a 4AT in series to simulate 10 gears. The result of this combination, on the one hand, is conducive to improving the speed, for example, the pure electric maximum speed of LS500h can reach 140km/h, on the other hand, it is more accelerated.

The four-wheel drive system applied to Erffa and Lexus LM is composed of an E-Four electric four-wheel drive with a separate motor in the rear axle, which is not much different from Toyota THS in structure.

At present, Toyota THS models that have been introduced into China include: Camry, Highlander, Saina, Willanda, Lei Ling, Visa, C-HR, Corolla, RAV4 Rongfang, Asia Dragon, Crown Lu Fang, Lingfang HARRIER, Yize IZOA, Erffa and Wilfa; Lexus brands include lexus ES, Lexus RX, Lexus NX, Lexus LS, Lexus UX, Lexus LM, Lexus CT, Lexus LC and Lexus GS(2016, 2014 and 2012 models).

(Toyota)

(Lexus department)

III. Detailed explanation of E-CVT (officially called THS-II version)

3.1, structural composition

The core of E-CVT is this planetary gear set, which consists of sun gear, planetary carrier (including planetary gears) and external gear ring, which are connected with MG1 motor, engine output shaft and main reducer in turn, as shown in the following figure:

We can find that as long as the state of one mechanism is determined, the rotation of the other two mechanisms can also be determined. For example, if the external gear ring is stationary and the sun gear rotates, it will inevitably drive the planet carrier to rotate, which is the starting process of the vehicle.

Moreover, it is worth noting that the diameters and teeth numbers of the external gear, the sun gear and the planetary gear are fixed, which means that the torque of the engine will always be distributed to the sun gear and the external gear in proportion, and the specific value is about 72% to the external gear and 28% to the sun gear. Once the engine is running, this basic fact will not change.

In addition, due to the structural limitation of the planetary gear set, the gear ratio between the outer ring gear and the sun gear is 2.6, that is, when the outer ring gear rotates once, sun gear has to rotate 2.6 times. As a result, the speed of the M2 motor is limited by the limit speed of the M1 motor of 6,500 revolutions, which is only 2,500 revolutions, corresponding to the speed of the vehicle of 43 miles per hour, that is, about 70 kilometers per hour.

3.2, working mode

Toyota’s THS-II system can essentially realize a variety of working modes, one is pure electricity, the other is hybrid (both B and C in the picture below can be regarded as hybrid), and the other is kinetic energy recovery mode, which we will explain in turn from easy to difficult.

First, the pure electric mode. In the pure electric low load state, the battery drives the MG2 motor, and the power is transmitted to the front axle differential by MG2, which finally drives the wheels. However, because the outer gear ring of the planetary gear is hard connected with the M2 motor, it will also follow the rotation. At this time, the engine connected with the planetary carrier has internal resistance, and the power will be transmitted to sun gear, that is, M1 generator with smaller internal resistance through the planetary gear, so that it rotates in the opposite direction, and the generator is in a state of idling without generating electricity.

In the pure electric load state, at this time, the one-way clutch of the engine output shaft intervenes, the planet carrier remains motionless, the MG1 generator starts to act as a motor, the power is transmitted to the outer ring gear through the sun gear, and the wheel is transmitted to the front axle differential through the parallel shaft, and finally the vehicle is driven forward together with MG2.

The kinetic energy recovery mode is better understood. When the vehicle is decelerating, the wheels will drive MG2 and MG1 in turn, making them act as a generator.

Hybrid mode:

Compared with the first two working modes, the hybrid mode can reflect the essence of the whole system of E-CVT. When the motor power can no longer meet the demand, or the battery power is not enough, the engine needs to start and intervene at this time.

However, the engine of this system has no traditional starting mechanism, so at this time, the MG1 motor needs to turn from reverse rotation to forward rotation, so as to drive the planet carrier to rotate, and this speed will reach the efficient range of engine operation, and then the engine will start with fuel injection.

As we mentioned earlier, once the engine rotates, the torque of the engine will be transferred to the outer ring gear and sun gear, and at this time, the outer ring gear will transfer the power to the front axle differential coupled with it to drive the wheels together with the MG2 driving motor; Sun gear will drive the MG1 motor to generate electricity, which will be provided to the MG2 drive motor.

When we step on the accelerator deeply, or when we are at full load, there are three power flows. Except that part of the torque of the above engine drives the wheels and part of the torque drives the MG1 generator to supply power to MG2, the battery of the vehicle itself will also supply power to the MG2 motor, so that the vehicle can output the maximum power.

Another mode is in-situ power generation, in which all the engine power drives the MG1 generator to charge the battery. Perhaps some readers have found it here. Didn’t you say that as long as the engines move together, the torque must be distributed to the outer ring gear and sun gear in proportion?

(In-situ charging)

There is actually no conflict here, because in the in-situ power generation mode, the battery will supply power to the MG2 motor, provide a reverse torque, and lock the external gear ring.

3.3, control strategy

The structure of planetary gear set is not complicated, but the control unit of the whole system is difficult. After the engine starts and the system enters the hybrid, how to distribute the power?

First of all, we know that the MG1 motor can be regulated, and according to the relationship between planetary gears, the torque of engine torque distributed to the outer ring gear can be calculated. When the driver steps on the accelerator pedal, the system will judge the power required by the engine according to the accelerator opening and the SOC value of the battery. When the vehicle speed is low, most of the power of the engine will be distributed to NG1 for power generation, part of the power will be used to drive the wheels, and the rest will be supplemented by M2 motor.

When the vehicle speed is high, the engine will use most of the power to drive the wheels, and only a small part will be used to generate electricity, and the MG2 motor will assist in driving.

If the vehicle happens to be in the highest thermal efficiency range of the engine, the MG1 motor will get stuck, and the MG2 motor will idle, at this time, the power is completely provided by the engine.

From the above, we can also draw another conclusion: the engine is responsible for the main power output, which is used to maintain SOC balance and respond to the total power request; The generator is used for speed regulation, and its purpose is always to control the engine speed at the target working point; The motor is mainly responsible for supplementing the torque to ensure that the driver’s torque request is guaranteed.

IV. Advantages and Disadvantages of E-CVT

The E-CVT transmission has two advantages. First, the smoothness of driving. The planetary gear set replaces the transmission, and there will be no sense of frustration in shifting gears. At the same time, the system is simple in structure and more reliable in theory.

Secondly, this system can keep the engine in an efficient running range through the power split of planetary gear sets and the speed regulation of the motor, and make the fuel economy higher. We should know that the measured fuel consumption of the third-generation Prius was 4.3L/100km when it went on the market in 2009. It reached this fuel consumption level 10 years ago, which can be said to be ahead of the whole era.

Although the advantages are obvious, this set of E-CVT also has some inherent defects, mainly because of the restrictions brought by the gear structure. For example, the gear ratio of the planetary gear set limits the speed range of the engine, and at the same time, it needs to drive the generator to generate electricity, which cannot release all the power. Moreover, the more transmission paths of the gear set, the greater the energy loss; In the high-efficiency operation range of the engine, the power cannot be completely transmitted to the wheels, and it needs to be converted twice by charging or electric drive.

5. What is the current reputation of E-CVT?

Generally speaking, due to the special type of gearbox, E-CVT will not produce friction when working, and will not wear without friction, with better durability and low failure rate.

From the market reputation, we can also see the reliability of this system, and there are almost no complaints about the failure of E-CVT transmission, which also reflects its leading quality.

VI. Comparison of E-CVT Technology

Due to the limitation of patents, there are not many E-CVT with planetary gear sets as the core. Besides Toyota’s, the most famous one is the universal Volt dual-mode hybrid system (in fact, GM’s patent in this respect is earlier than Toyota’s), which also takes planetary gear sets as the core.

Structurally, the MG2 of the universal Volt is connected with the sun gear, the output shaft is connected with the planetary carrier, and the power is output to the wheels, while the gear ring is connected with the shell or the motor MG1 according to the actual operation. Through the combination and separation of clutches C1 and C2 and brake B1, GM Volt can realize various operation modes, as shown in the following table.

Compared with Toyota’s E-CVT, although the Volt structure of GM is similar, the direction of power split is completely different, which is also the product of Toyota’s racking their brains under the blockade of GM’s patents.

In addition, it is worth mentioning that although the Volt is more similar to Toyota’s YHS in structure, consumers compare more with Honda’s i-MMD hybrid and Toyota’s THS hybrid, so we also make a comparative analysis of them.

First of all, in terms of structure, Honda’s i-MMD system consists of engine, generator, driving motor, power separation device (E-CVT), PCU and lithium battery.

One of the key differences lies in the E-CVT. Compared with Toyota’s complex planetary gears, Honda’s i-MMD completes the power split through very few gear sets and clutches, and we have to know that one more transmission path of power leads to one more loss.

Compared with Toyota’s THS, Honda’s i-MMD is characterized by high structural flexibility, which can realize pure electricity, series, parallel, high-speed direct drive (Toyota THS can’t realize direct drive) and other modes, and its efficiency is very high.

In addition, the hybrid power of Honda i-MMD is higher than that of Toyota THS. Take the third generation Honda i-MMD as an example, its total motor power reaches 135KW, while that of Toyota THS-IV is only 53KW.

As for why Honda i-MMD uses such a high-power motor, the main reason is that Honda i-MMD hybrid system can’t switch the speed ratio at will like Toyota THS, so this system is in series mode under most working conditions, and the motor drives the vehicle. In order to ensure the power of the vehicle, only a more powerful motor can be selected.

It also has some disadvantages: the battery uses lithium battery, the motor power is higher, and the corresponding cost will be higher. At the same time, because it is limited by the speed ratio of the internal reduction gear set, the working space of the Atkinson engine in the i-MMD system that directly participates in driving the wheels is very narrow. In addition, Toyota’s THS has been verified on a large scale in the market, and its reliability has been proved.

Seven, Toyota open E-CVT patent.

At the beginning of the article, it is said that there are only two kinds of hybrids in the world, one is Toyota and the other is others. The reason for this statement is that on the one hand, Toyota THS hybrid performance is excellent and reliable, on the other hand, it has applied for comprehensive patent protection, and it is even more difficult for latecomers to enter the market.

However, due to the timeliness of the patent protection period, in 2017, Toyota announced the opening of the first batch of hybrid patents, and it can provide technology to the outside world, and hopes to cooperate with other car companies in this regard, but there are few respondents.

By 2018, Toyota expressed the patent opening more clearly, claiming that it would provide the right to use for free, including about 23,740 patents of electrification technology such as motor, electronic control and system control.

In 2019, the opening of Toyota’s patent finally ushered in the harvest. First, Toyota "sold" THS technology to Toyota’s core component supplier Keliyuan in China at a price of "US$ 1" (Keliyuan’s major shareholder is Geely, so it can be understood as selling technology to Geely in disguise). Later, it reached a THS hybrid technology transfer agreement with GAC and FAW.

At present, the first Guangzhou Automobile Chuanqi GS8 twin-engine series equipped with Toyota hybrid in its own brand has been listed. The power is a 2.0T engine independently developed by Guangzhou Automobile+Toyota THS hybrid system, and the official fuel consumption per 100 kilometers is 5.3L/ 100 kilometers. In addition, Geely’s Zhiqing Hi·X oil-electric hybrid system is also inextricably linked with it.

Summary:

Generally speaking, as the core of Toyota THS hybrid system, E-CVT transmission perfectly realizes the function of power shunting through planetary gear sets, and makes the engine always in an efficient working range by using motor speed regulation. This is indeed a revolutionary innovation, which also makes Toyota’s hybrid technology almost dominate the world, and its cumulative sales volume is close to 20 million. At present, THS hybrid has developed to the fourth generation, and its structure has approached perfection. Moreover, in the context of pure electric vehicles becoming the general trend, whether Toyota will continue to upgrade THS or improve E-CVT may require a question mark.

Image source @ Country Garden official website

oneSales fell sharply, falling out of the TOP10 of the sales list for the first time.

In the situation that the real estate industry has not been fully improved, and the concerns about a number of negative news in the near future, the sales situation of Country Garden is becoming increasingly severe. According to the latest data released by Kerry, from January to March 2024,Country Garden’s full-caliber sales amounted to 17.68 billion yuan, down 79.9% year-on-year, ranking 12th, falling out of the TOP10 list for the first time.In the same period of 2023, the sales amount of Country Garden still ranked third; Compared with the sales situation of the whole industry, the sales amount of the top 100 real estate enterprises in January-March decreased by 47.5% year-on-year.Country Garden’s decline far exceeds the industry’s decline, and the decline of 79.91% is also the largest among TOP50 housing enterprises.

Judging from the monthly sales in March, Country Garden’s sales were 5.51 billion yuan, down 82.67% year-on-year, which was second only to Evergrande’s -83.43%.

Sales and repayment are one of the most important channels for real estate enterprises to expand cash flow. The rapid decline in sales amount has further deteriorated Country Garden’s own "hematopoietic" ability.

Data source: corporate financial report & Kerry, drawn by Titanium Media APP.

Judging from the sales data over the years, since 2016, Country Garden has started to add leverage crazily and become the "king of hoarding land". In 2015, the sales of Country Garden was 140.2 billion yuan, and in 2016, it directly doubled to 308.8 billion yuan. In 2017, it broke through the 500 billion mark and ranked first in the sales list for the first time; It reached its peak in 2020, with sales of 788.8 billion yuan; From 2017 to 2022, it ranked first in the sales list of real estate enterprises in China for six consecutive years. In 2023, the sales amount halved and fell to the sixth place in the sales list.

In the peak period of sales in 2018-2021, the average monthly sales was 61-65 billion yuan, which fell to 38.7 billion yuan and 18.1 billion yuan respectively in 2022-2023. In the first quarter of 2024, this figure has fallen to 5.9 billion yuan.Some organizations have predicted that Country Garden will reach 40 billion yuan in sales every month, so that it can have sufficient ability to repay debt interest. Judging from the current sales data, it is far from enough.

Insiders pointed out that, looking back, Country Garden’s "high leverage and fast turnover" model of rapid expansion depends entirely on the rapid sale of houses. At present, the speed of selling houses has slowed down, which naturally leads to the difficulty in maintaining the capital chain.

Country Garden once bluntly said: "We underestimated the depth, intensity and duration of the market downturn, failed to take more effective measures as early as possible, failed to see that the relationship between supply and demand in the real estate market has undergone major changes, and failed to understand the potential risks such as excessive investment ratio in third-and fourth-tier cities and insufficient debt ratio pressure drop, and failed to resolve them promptly and forcefully."

2, delay the release of financial reports, stock suspension, and hire a risk consulting company to conduct liquidation analysis.

In addition to the pressure of sales, its debt restructuring seems to be facing unprecedented pressure.

On the evening of March 28th, Country Garden did not publish the annual performance and financial report for 2023 as planned, but issued a notice saying that,The publication of 2023 annual results will be delayed, and the board meeting will also be postponed. In addition, the company will suspend trading on the Stock Exchange from 9: 00 on April 2.

Country Garden said in the announcement: "The suspension of trading will not have a substantial impact on the company’s operations. At present, the work of Baojiaolou and overseas debt restructuring are progressing in an orderly manner. "

Image source @ Country Garden Announcement

Country Garden gave two reasons for the delay in publishing the 2023 annual results in the announcement:"First, because the industry continues to fluctuate, the business environment faced by the company is becoming increasingly complex, and the company needs to collect more information to make appropriate accounting estimates and judgments; Second, due diligence related to debt restructuring has a large workload and high complexity, which requires more time to collect financial information. "

In fact, Country Garden suffered a loss for the first time in 2022, with a loss of 6.052 billion yuan. In the first half of 2023, the loss continued to expand, and the net loss to the mother core was about 48.932 billion yuan. Three years later, in 2019, 2020 and 2021, its net profit returned to its mother was as high as 39.55 billion, 35.022 billion and 26.797 billion respectively.

Country Garden’s huge losses are mainly due to asset impairment losses. It is reported that 40.3 billion yuan was accrued in the first half of 2023. The decline in average selling price and slow de-capitalization led to an increase in provision for asset impairment; Judging from the recent sales trend and overall layout of Country Garden, the provision for asset impairment may be intensified.

Compared with the annual report, the market is more concerned about the progress of Country Garden’s debt restructuring and whether it will eventually be liquidated like Evergrande.

On October 10, 2023, Country Garden said that the company had not paid the due amount of HK$ 470 million, which caused a debt default, and announced the official start of overseas debt restructuring. Country Garden also hired China International Finance Hong Kong Securities Co., Ltd. and Hualian Nuoji (China) Co., Ltd. as financial consultants and Shengde Law Firm as legal consultants, and then introduced KPMG as the main financial consultant for overseas debt restructuring in 2024 to jointly formulate an overall plan to comprehensively solve the company’s current overseas debt risks. (Details: Country Garden launches overseas debt restructuring)

Six months have passed, but no substantial progress has been announced in overseas debt restructuring. Therefore, on February 28th this year, the creditor Jian Taoji filed a liquidation petition against Country Garden with the Hong Kong High Court.

In addition to the pressure on overseas debts, there are also problems with domestic debts that have been successfully extended before.On March 12th, the news that Country Garden’s bond’ H1 Bidi 01′ (original name’ 21 Bidi 01′) failed to pay all the interest due became the focus of the market. Country Garden responded that the interest fund of RMB 96 million of "21 Bidi 01" due to the failure of sales recovery and the pressure of fund allocation on March 12 has not been fully paid. (Details: Country Garden debt interest payment enters grace period)

Previously, Country Garden has hired Kroll, an American risk consultancy company, to conduct liquidation analysis before the court hearing in mid-May. Kroll will conduct an independent business review of Country Garden and predict the recovery ratio of creditors in the case of liquidation.

In the "suspension of trading" announcement, Country Garden said: "The company attaches great importance to debt risk resolution. In the past few months, the company has been working with financial consultants and legal consultants to evaluate the Group’s situation and formulate debt restructuring plans to alleviate the current liquidity problem. Country Garden hopes that all stakeholders will maintain their confidence in the company and support the company to continue its efforts to promote the best practical restructuring plan and achieve a long-term and sustainable capital structure. "

threeMany of its companies have been frozen with equity exceeding 10 billion.

Country Garden’s recent pressure goes far beyond this.

According to the eye-catching survey, recently, Country Garden Real Estate Group Co., Ltd. has added a number of pieces of information about stock right freezing. The enterprises whose shares have been executed include Guangzhou Yuedong Country Garden Investment Co., Ltd., Shenzhen paladin Phase V Equity Investment Partnership (Limited Partnership), Shenzhen Huixin No.22 Investment Consulting Partnership (Limited Partnership), Shenzhen Biji Industrial Development Co., Ltd., etc. The amount of stock right freezing ranges from 39 million yuan to 6.705 billion yuan, and the total stock right freezing exceeds 10 billion yuan.

Image source @ Tianyancha official website

Country Garden responded by saying that due to disputes with the partners in cost calculation and pre-distribution of profits, the partners applied to the court for property preservation. This kind of dispute is a normal commercial dispute, and the court has not yet made a final judgment. The value of the frozen equity is not the same as the subject matter of the dispute. Country Garden is ready to raise an objection to the excessive preservation of the partner.

For Country Garden, the sales rebate is not strong, so we can only rely on new financing to repay the debts due and promote the work of "guaranteeing the delivery of the building".As of March 15th, 272 projects in Country Garden have been included in the "white list" and have received financing support of about 1.732 billion yuan, which can accurately promote the task of "guaranteeing the delivery of buildings". In addition, on March 24th, Country Garden revealed that it plans to introduce Guangdong Zhongwei Investment Control Technology Group Co., Ltd. to develop and build a complex project in White Swan Pond Business District, Liwan District, Guangzhou, and Guangdong Zhongwei will provide 2.8 billion yuan of construction funds after entering the company.

It is worth noting that these can only solve the single project and short-term crisis of Country Garden. In order to solve the liquidity risk, debt restructuring and the recovery of the sales market are very important. (This article first appeared in Titanium Media APP, author | Wang Jian, editor | Liu Yangxue)

For more macro research on dry goods, please pay attention to titanium media international think tank WeChat official account:

On June 22 nd, the solo bamboo drifter performed on the water in Houhu Lake in Kyushu Scenic Area of Yuanmingyuan, Beijing.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Luo Xiaoguang photo

On June 22 nd, the solo bamboo drifter performed on the water in Houhu Lake in Kyushu Scenic Area of Yuanmingyuan, Beijing.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Luo Xiaoguang photo

On June 22 nd, the dragon boat race was held in Houhu, Kyushu Scenic Area, Yuanmingyuan, Beijing, in the form of a round-robin competition.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Luo Xiaoguang photo

On June 22nd, children participated in the activity of "fishing for fragrant zongzi" in Hainan Provincial Museum.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Guo Chengshe

On June 22nd, the staff of Hainan Provincial Museum gave the children "some realgar".

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Guo Chengshe

On June 22, children learned to make wormwood door hanging in Hainan Provincial Museum.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Guo Chengshe

On June 22nd, tourists made sachets in Quzi Cultural Park, Quzici Town, Miluo City, Yueyang City, Hunan Province.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Chen Si Khan photo

On June 22, craftsmen showed their carving skills to tourists in Xinyi Village, Quzici Town, Miluo City, Yueyang City, Hunan Province.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Chen Si Khan photo

On June 22 nd, craftsmen showed their non-legacy handicrafts in Yitonghe Industrial Track Park in Changchun City, Jilin Province.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Zhang Nanshe

On June 22, citizens performed a dragon-shaped colored silk performance in Yitonghe Industrial Track Park, Changchun City, Jilin Province.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Zhang Nanshe

On June 22nd, a water town wedding was staged in Xixi National Wetland Park in Hangzhou.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Huang Zongzhi photo

On June 22nd, villagers rowed dragon boats at Jiangcun Dragon Boat Festival in Hangzhou Xixi National Wetland Park. Jiangcun Dragon Boat Festival was listed in the national intangible cultural heritage list in 2011.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Huang Zongzhi photo

On June 22nd, villagers rowed dragon boats at Jiangcun Dragon Boat Festival in Hangzhou Xixi National Wetland Park. Jiangcun Dragon Boat Festival was listed in the national intangible cultural heritage list in 2011.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Huang Zongzhi photo

On June 22nd, citizens held a dragon boat race in Yueshanhu Wetland Park in Guiyang.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Liu Xushe

On June 22, the contestants rowed dragon boats in the mud of rice fields in Xibo Town, Xinglongtai, Shenbei New District, Shenyang.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Yang Qing photo

On June 22 nd, the contestants rowed dragon boats in the mud of rice fields in Xibo Town, Xinglongtai, Shenbei New District, Shenyang (photo of drone).

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Yang Qing photo

On June 22, the contestants rowed dragon boats in the mud of rice fields in Xibo Town, Xinglongtai, Shenbei New District, Shenyang.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Long Lei photo

On June 22 nd, the contestants rowed dragon boats in the mud of rice fields in Xibo Town, Xinglongtai, Shenbei New District, Shenyang (photo of drone).

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Yang Qing photo

On June 22, the contestants rowed dragon boats in the mud of rice fields in Xibo Town, Xinglongtai, Shenbei New District, Shenyang.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Long Lei photo

This is a lion dance performance filmed in the Park Square of Zicheng Ruins in Jiaxing, Zhejiang Province on June 22nd.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Xu Yushe

This is a lion dance performance filmed in the Park Square of Zicheng Ruins in Jiaxing, Zhejiang Province on June 22nd.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Xu Yushe

This is a dragon dance performance filmed in the Park Square of Zicheng Ruins in Jiaxing, Zhejiang Province on June 22nd.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Xu Yushe

On June 22nd, the Dragon Dance Team interacted with the audience in the Park Square of Zicheng Ruins in Jiaxing, Zhejiang.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Xu Yushe

On June 22nd, at the Dragon Boat Festival held in shibin, Qiandongnan Miao and Dong Autonomous Prefecture, Guizhou Province, ethnic minority compatriots paraded in costumes.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Tao Liang photo

On June 22nd, a canoe dragon boat parade was held in shibin, Qiandongnan Miao and Dong Autonomous Prefecture.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Tao Liang photo

On June 22nd, people took part in the dragon boat parade (photo of drone) at the Dragon Boat Festival held in shibin, Qiandongnan Miao and Dong Autonomous Prefecture, Guizhou Province.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Yang Yushe

On June 22nd, at the Dragon Boat Festival held in shibin, Qiandongnan Miao and Dong Autonomous Prefecture, Guizhou Province, ethnic minority compatriots paraded in costumes.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency (photo by Yang Xiaohai)

On June 22nd, people took part in the dragon boat parade (photo of drone) at the Dragon Boat Festival held in shibin, Qiandongnan Miao and Dong Autonomous Prefecture, Guizhou Province.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency (photo by Yang Xiaohai)

This is the dragon head shot in shibin, Qiandongnan Miao and Dong Autonomous Prefecture, Guizhou Province on June 22nd.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency (photo by Wang Chao)

On June 22, workers of an installation company of China Construction Third Bureau made zongzi in the canteen of a project site in Shanghai.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Ding Ting photo

On June 22, children showed the made small basket of wormwood at the Dragon Boat Festival held in Huacao Town, Minhang District, Shanghai.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Wang Xiang photo

On June 22nd, people made small baskets of wormwood at the Dragon Boat Festival held in Huacao Town, Minhang District, Shanghai.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Wang Xiang photo

On June 22nd, children enjoyed dough figurines in Longsheng Park, Zhuozi County, Wulanchabu City, Inner Mongolia.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Behe photo

On June 22nd, in Zhujiajiao Ancient Town, Qingpu, Shanghai, foreign students showed zongzi at the event of making zongzi.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Fang Yushe

On June 22nd, in Zhujiajiao Ancient Town, Qingpu, Shanghai, foreign students learned how to make zongzi.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Fang Yushe

On June 22nd, children "washed dragon water" at Haikou Holiday Beach.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Fan Yuqing photo

On June 22, people "washed dragon water" at Haikou Holiday Beach (photo of drone).

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Fan Yuqing photo

On June 22, people "washed dragon water" at Haikou Holiday Beach (photo of drone).

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency reporter Fan Yuqing photo

On June 22, children participated in pot throwing at the Dragon Boat Festival in Dijiao Park, Wuhan.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency (photo by Zhou Chao)

On June 22, children fought dragon boats at the Dragon Boat Festival in Weinan Museum, Shaanxi Province.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency (photo by Cui Zhengbo)

On June 22 nd, the performer of Duzhu Piao performed in Jiudongtian Scenic Area, Bijie City, Guizhou Province.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency (photo by Luo Dafu)

On June 22nd, in Heyuan Scenic Area, Yangzhou City, Jiangsu Province, children learned to make dumplings with the help of community volunteers.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency (photo by Meng Delong)

On June 22, villagers in Yueliangqiao Village, Tianmushan Town, Lin ‘an District, Hangzhou City, Zhejiang Province were making zongzi.

It was the fifth day of the fifth lunar month, the Dragon Boat Festival, a traditional festival in China. Various places hold colorful cultural and recreational activities to spend traditional festivals.

Xinhua News Agency (photo by Hu Jianhuan)

The Tenth Five-Year Plan for the Protection and Utilization of Intellectual Property Rights (hereinafter referred to as the Plan) adheres to the basic principle of strengthening protection, strengthens the whole chain protection of intellectual property rights, makes every effort to push intellectual property protection to a new level, and gives full play to the basic guarantee role of the intellectual property system in stimulating innovation. Enterprises are the "main force" of intellectual property creation and the "beneficiary" of intellectual property protection. Recently, our reporter walked into a number of enterprises, listened to enterprises talk about the "Planning", talked about real practical experience, and discussed the implementation points of the "Planning".

Source protection "building foundation"

Innovation and creation are the origin of intellectual property and the basis of intellectual property protection. It is an important task to strengthen the protection of intellectual property rights in an all-round way and promote the high-quality development of intellectual property rights by consolidating the source and highlighting the quality orientation of innovation and creation. The Plan proposes to strengthen the source protection of intellectual property rights, promote the high-quality creation of intellectual property rights, and strengthen the creation and reserve of independent intellectual property rights in key areas such as artificial intelligence, basic software and aerospace technology.

"The ability of independent innovation provides a source of living water for the high-quality creation of intellectual property rights. Innovation ability and innovation quality fundamentally determine the value of intellectual property, which is related to the quality and market value of intellectual property. Vigorously improving innovation ability is the basis for enterprises to implement intellectual property development strategies such as intellectual property protection. " Wang Junlei, chief expert of China Automotive Technology Research Center and deputy secretary-general of Intellectual Property Branch of China Automotive Engineering Society, told this reporter that in this regard, China Automotive Technology Research Center Co., Ltd. has a certain high-quality patent output every year, and maintains innovative vitality in the fields of intelligent networked vehicles, new energy vehicles and vehicle manufacturing.

Strictly controlling the application for registration of intellectual property rights, and encouraging the active application of intellectual property system to protect and innovate on the basis of quality and value orientation are another key to the "foundation" of high-quality development of intellectual property rights. The Plan also emphasizes the need to strengthen the quality supervision of intellectual property application registration.

"It can be intuitively felt that in recent years, the intellectual property management department has continuously increased the action of source protection, and strictly regulated the patent application, trademark registration and copyright registration behavior. Enterprises are both the main players and direct beneficiaries of strengthening source protection. " In Wang Junlei’s view, a severe crackdown on the application for registration of intellectual property rights, which is not based on protecting innovation, is not aimed at use and is not aimed at improving market competitiveness, will help to form a good atmosphere for innovation and creation, promote market players to optimize resource allocation, enhance the value of intellectual property rights from the source of innovation, and help enterprises gain more prominent market competitive advantages.

Solidly protect "fitness"

Intellectual property is the core competitiveness and important strategic resources of enterprises, which is connected with innovation at one end and market at the other. Innovative achievements are the "stepping stone" for enterprises to go to the market, and the intellectual property system can make innovative achievements better realize economic and social values. However, for some small and medium-sized enterprises, the dividend of intellectual property system has not been fully released, and intellectual property protection measures should be further strengthened.

Hunan Maixi Software Co., Ltd. is a start-up enterprise engaged in the research and software development of core algorithms of industrial CAE software, and has made a lot of industry-leading innovations in the basic algorithms such as mathematical calculation library and unit algorithm library. Its founder, Cui Xiangyang, told the reporter: "The company has been gradually recognized in the commercial market by virtue of its advantages in algorithm technology, but it is still weak in patent layout, trademark application, and subsequent protection and operation, resulting in the company’s lack of intellectual property weapons to effectively safeguard its competitive resources in the development process."

"The Plan deepens the deployment and implementation of the intellectual property strategy promotion project for small and medium-sized enterprises, encourages small and medium-sized enterprises to increase investment in intellectual property rights, and strives to improve the level of intellectual property protection, application and management of small and medium-sized enterprises, clarifying the direction and providing assistance for the intellectual property development of small and medium-sized enterprises, which greatly boosted our confidence." Cui Xiangyang said.

At the same time, the Plan emphasizes continuing to strengthen the judicial and administrative protection of intellectual property rights, carrying out the construction project of intellectual property protection institutions in depth, improving the service capacity of intellectual property protection institutions, building a number of intellectual property protection centers in advantageous industrial clusters, providing one-stop comprehensive intellectual property services integrating rapid review, rapid confirmation and rapid rights protection, strengthening the overall coordination of rights protection assistance, promoting the extension of the rights protection assistance system to the grassroots level, and realizing a nationwide network of rights protection assistance services. These deployments will provide more solid, fast, convenient and effective service guarantee for enterprise intellectual property protection, help enterprises to "strengthen their bodies" and win the market.

Overseas layout "adds color"

Intellectual property is just needed for innovation and development, and it is also the standard of international trade. More and more enterprises in China are changing from "going out" to "going in". While using intellectual property rights to form new advantages in international cooperation and competition, there is also more demand for overseas intellectual property rights protection and rights protection assistance.

"For a long time, Xiaomi Group has carried out extensive patent distribution around the world, and actively explored international cooperation networks such as patent prosecution highway and The Hague system to improve the distribution and protection efficiency of overseas intellectual property rights, which has achieved certain results. This is inseparable from the precise support of domestic policy measures. " Li Yanjun, director of patent management in the Legal Department of Xiaomi Group, said that in recent years, domestic intellectual property management departments have joined forces with all parties to accelerate the establishment and improvement of international intellectual property risk early warning and emergency response mechanisms, and constantly improve the overseas intellectual property information service capabilities, so that enterprises that "go global" will benefit greatly.

The Plan also further emphasizes strengthening international cooperation in intellectual property protection, strengthening business cooperation in intellectual property review, guiding innovative subjects to make rational use of the World Intellectual Property Organization’s global service system and other channels, improving the efficiency of overseas intellectual property distribution and protection, strengthening the construction of overseas intellectual property dispute response guidance system, and enhancing overseas intellectual property risk prevention capabilities. Taking advantage of the policy deployment and the implementation of measures, "China Creation" and "China Wisdom" will shine more brightly on the international stage. (　Intellectual Property News reporter Li Yangfang)