After nine years, SAIC-GM officially changed coaches: On May 12th, SAIC-GM officially announced that Zhuang Jingxiong took over from Wang Yongqing as the general manager of SAIC-GM. On the occasion of great changes in the automobile industry, the future development and planning of SAIC-GM has once again become the focus of the whole industry.

Nine years ago, Wang Yongqing took over as the general manager of SAIC-GM, and SAIC-GM actively adjusted its marketing strategy. In 2016, its sales increased by 13.9%, and its three major brands sold 1.88 million vehicles throughout the year. In 2017, it sold more than 2 million vehicles-just 20 years after the establishment of SAIC-GM. In 2020, the cumulative production and sales will exceed 20 million vehicles.

Today, nine years later, the automobile consumption market has undergone a butterfly change. Since 2021, the new energy vehicle market has started in sturm und drang, and the independent brands have risen high in the lane-changing overtaking competition, and various capitals have poured in. On Brand Technology Day in the same year, SAIC-GM proposed electrification, intelligence and networking as the three fulcrums of sustainable development, and announced the planning and landing of three core products equipped with Ultium global electric vehicle platform, a new generation of VIP intelligent electronic architecture and Super Cruise super assisted driving system.

At the end of last year, SAIC-GM announced that it would continue to increase its strategic investment. It is planned that by 2025, the total investment in new technologies of electrification and intelligent networking will reach 70 billion yuan. According to the latest sales data, as of April this year, the wholesale volume of SAIC-GM was 80,000 vehicles, up 235.7% year-on-year and 27.4% quarter-on-quarter.

Some commentators believe that SAIC-GM came a little late on the new energy track. But looking at the road of enterprise development, we can see that the market has never been calm, and SAIC-GM has always been one step at a time. Behind the stability of the surface, it is years of continuous braving the wind and waves. Despite the unprecedented market pressure brought by the great changes in the industry, this veteran car company is still determined to work hard, make bold progress, mobilize all resources, grasp the strategic initiative of future development and invest in all-round transformation. In terms of technology landing, it pays more attention to steady and steady progress than blindly rushing to the beach market, and does not "compromise" for traffic and gimmicks.

In April this year, Chen Jining, secretary of the Municipal Party Committee, pointed out that the automobile industry is a pillar industry in Shanghai. As a leading enterprise in the industry, the innovation and transformation of SAIC is related to the high-quality economic development and the sustainable development of the automobile industry in the city. It is necessary to thoroughly study and implement the spirit of the important speeches made by the 20th Party Congress and the General Secretary of the Supreme Leader on his visit to Shanghai, earnestly enhance the sense of responsibility and urgency, firmly develop confidence and determination, and accelerate the innovation transformation with the spirit of self-revolution. The strategy should be clearer, the focus should be more prominent, the innovation should be more focused, and the reform should be more powerful, so as to make greater contributions to promoting high-quality development and enhancing the core competitiveness of Shanghai.

Therefore, the significance of this "coaching change" is not only the change of an automobile enterprise’s future planning, but also the implementation of the development requirements of the municipal party Committee and municipal government’s innovation breakthrough, compliance with industry changes and comprehensive changes in demand, self-innovation and higher quality supply.

As a predecessor, Wang Yongqing laid a solid foundation for the sustainable and high-quality development of SAIC-GM. As a pioneer, it remains to be seen how Zhuang Jingxiong will relay the road of transformation and realize the vision of "leading smart travel and achieving a better life".

SAIC-GM Wuhan Aoteneng Super Factory

Innovate technology and improve the system

Going to the forefront of electrification transformation

Just past the Shanghai Auto Show, referring to the current price war in the auto industry, Zhuang Jingxiong said: "What I want to see more is the value war, not the price war." He pointed out that the electrified track is like a marathon, and the start is only the beginning. If you want to really win, "we must compete for the ability of the whole system and the ability of research and development, and we must also compete for insight into long-term strategy."

To realize the "value war", the core still lies in technological innovation. In the process of accelerating the landing of electric intelligent networked automobile products, SAIC-GM has initially established new competitive advantages in various fields.

In terms of new energy technology, as the cornerstone of GM’s all-round electrification transformation, Otneng electric vehicle platform integrates GM’s 26 years of electrification experience and forward-looking technical advantages, bringing safer, smarter and more performance technical support for pure electric vehicles. SAIC-GM and Pan-Asia Automotive Technology Center, together with local suppliers, have developed a special battery formula for China market, which has the advantages of high thermal stability, low attenuation and long service life.

In terms of new energy system construction, SAIC-GM and Pan-Asia Automotive Technology Center participated in the simultaneous development of the Autoenergy platform and related vehicles, and the Pan-Asia New Energy Test Building and Guangde Battery Safety Laboratory can cover the main test and verification projects of the core three electrical components of new energy vehicles; In terms of manufacturing, following the opening of Shanghai Aoteneng Super Factory, Wuhan Aoteneng Super Factory has been officially put into production, further strengthening the new energy intelligent manufacturing capability; In terms of procurement, more than 95% of the spare parts of Autoenergy platform are locally purchased by using a highly localized business chain system. This means that SAIC-GM has a complete system capability of new energy from R&D, design, engineering, manufacturing to supply chain.

At present, Cadillac LYRIQ sharp song rear drive long battery life version and four-wheel drive performance version have been officially delivered. The Electra E5, Buick’s first Ultrapower platform model, was listed in Wuhan on April 13th, and it was also praised by the outside world as the first model in the joint venture to achieve "the same price of oil and electricity". From 2022 to 2025, the three major brands will have a total of 10 pure electric products.

Buick ELECTRA E5

On the basis of solid product development and quality, SAIC-GM continues to exert its strength in the after-sales service mode of new energy vehicles. Following the release of Cadillac LYRIQ sharp song, the brand launched Cadillac IQ pure electric space. Different from traditional 4S stores, IQ space is located in a prominent position in the business circle of mid-to-high-end large shopping centers, increasing the contact with users’ life scenes, from focusing on cars through professional stores in the past to focusing on users’ experience through life shopping scenes. At the same time, Cadillac launched Cadillac IQ App as the only channel to buy sharp songs, iterating the previous sales model of placing orders through dealers and agents.

This new customer-centered retail scene soon extended to other brands of SAIC-GM. At present, 20 Buick pure electric spaces have been opened in 13 major cities. More than 570 Buick pure electric zones have been opened, covering more than 225 cities. By the end of 2023, it is estimated that the number of Buick pure electric spaces will reach about 60, and the number of pure electric areas will exceed 600.

Aiming at the charging pain point of new energy vehicles, SAIC-GM has established a multi-level charging system: it is estimated that by the end of 2023, there will be more than 1,300 self-built charging terminals including Cadillac IQ exclusive overcharge station and Autoenergy overcharge station, and the number of third-party charging terminals cooperating with mainstream charging operators will reach 400,000, providing users with convenient one-stop charging service.

Cadillac pure electric IQ space

Intelligent networking continues to exert strength.

Promote digital transformation in all directions.

Today, a new generation of information technologies such as big data and artificial intelligence are booming, and the automobile industry has officially entered the era of "data determines experience and software defines cars". In order to realize all-round electrification transformation, comprehensively promoting digital transformation is the key to winning the future.

In November 2022, the Intelligent System and Software Engineering Center (ISSEC) of Pan-Asia Automotive Technology Center was established, focusing on five core areas: intelligent driving, intelligent cockpit, software-defined vehicle, electronic architecture and intelligent vehicle control, to ensure the landing and iterative update of GM’s latest intelligent networking technology.

At present, Pan Asia has nearly 1,300 software and digital talents, more than 10 development laboratories, nearly 1,000 test and verification platforms, 4 joint laboratories and 6 innovation studios.

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? ?Pan-Asia Automotive Technology Center Intelligent System and Software Engineering Center (ISSEC)

Behind the large-scale investment of Pan-Asia Technology Center is the practice of SAIC-GM fully investing in digital transformation and accelerating intelligent networking. Specifically, the digital transformation of SAIC-GM is mainly manifested in the landing of three major technologies.

The first is the VIP intelligent electronic architecture. It is understood that 100% of the electric vehicles on the Aoteneng platform will adopt the VIP intelligent electronic architecture to realize the parallel refresh of OTA of multiple modules of the vehicle, with richer upgrade content and faster upgrade speed. In 2023, GM will launch a brand-new "Software-Defined Vehicle" platform in North America and China. Frequent OTA remote upgrades will bring technical solutions that are more suitable for China road conditions and travel scenarios.

The second is a new generation of Super Cruise super assisted driving system. In the field of intelligent driving, a new generation of Super Cruise super assisted driving system has been installed on Cadillac Ruige and will be gradually applied to future Buick and Chevrolet models.

It is understood that the new generation of Super Cruise has made nine major adjustments and optimizations for China road scenes and consumer driving habits on the basis of North America. The automatic lane change and command lane change functions bring an assisted driving experience close to the real driving style; High-precision maps provide data updates four times a year, and the mileage covered by domestic maps has increased by 50,000 kilometers compared with last year, reaching 350,000 kilometers.

In the future, Super Cruise will regularly carry out iterative upgrades through OTA to provide customers with richer usage scenarios. In addition, the intelligent lane centering assistance function makes driving in urban working conditions easier, and the upgraded parking assistance will also realize the function of remote parking in the future.

The third is a new generation of VCS intelligent cockpit system. At present, this cockpit system jointly developed by General Motors and Pan Asia Automotive Technology Center has been installed on Cadillac LYRIQ Ruige, Buick Century and E5. The system adopts the top hardware in the industry, including Qualcomm Snapdragon 8155 chip, super-large display screen with the highest 9K ultra-high definition, customized audio cooperated with top manufacturers such as AKG and BOSE, iKey mobile phone key, 5G communication module, etc., combined with intelligent scene engine and services provided by eco-partners in the industry, bringing personalized intelligent driving experience to consumers.

Starting from 2023, the VCS intelligent cockpit system will also launch a version equipped with Snapdragon 8195 chip and AR-HUD; Starting from 2024, the VCS intelligent cockpit will also welcome hardware upgrades such as rear entertainment system, four-tone voice command and exterior audio, and continue to introduce more ecological partners to further expand the functions and experiences of the cockpit.

Cadillac LYRIQ Ruige New Generation VCS Intelligent Cockpit System

Standing at the starting point of the new journey, observing the changes of SAIC-GM this year, we can see its status and actions:

Actively take scientific and technological innovation as the starting point, take digital transformation as the support, and further strengthen the determination of electronic transformation and upgrading. Under the trend of electrification, intelligence, networking and sharing, we will persist in taking users as the center and make efforts at both ends of supply and demand, and regard green and low-carbon transformation as the key to the future. I believe that in the future, SAIC-GM will continue to take the promotion of Shanghai’s high-quality development as its important mission and make positive contributions to enhancing the city’s core competitiveness.

The hit drama "One Mind to Pass the Mountain" is the 85-flower Liu Shishi’s comeback by relying on the costume drama. Since its launch, the popularity of this drama has been rising continuously, and many discussions have been involved. Surprisingly, however, there is no actor in this drama, the official match of Liu Yuning is too worn down, and the male master and apprentice back to Germany and Chang Huasen is a short man to choose a general. On the contrary, Wallace Huo, who had worked with Liu Shishi for three times before, got angry.

Not only did netizens directly replace the face of the leading actor with him, but a platform also deliberately exempted Wallace Huo and Liu Shishi from "A Strange Man’s Plum", and Wallace Huo himself soared in popularity in a small book, becoming a hot figure in making up homework (chasing old dramas) after 05 and 10, and madly rolled up a group of fans.

It’s really hard to imagine that the Internet has really changed a group of people. It seems that everyone has forgotten that Wallace Huo married Ruby Lin because of his poor acting skills, and he was almost scolded to quit the circle. Now it has become a myth of the Internet. I really want to thank my peers for all this.

Excellent face value, Internet substitution can also be played.

The four beauties of the world are not boastful. It is not without reason that I wear a Mao Mao to give you branches in the snow in bilibili every day in winter. The heart is strictly selected from the retention money, and Wallace Huo’s face value is beyond doubt.

When I was young, I was filming without makeup, and I was fresh and natural. When "chinese paladin 3" was broadcast, one of the hot reviews of Douban in that year was: "I watched this drama for Hugh and fell in love with Wallace Huo."

Vivian Wu, who has seen so much of the world, and the woman who has filmed in John Lone, the so-called Asian grass, have always been full of praise for Wallace Huo’s eyes. They have cooperated with him several times and praised his big eyes, so you feel that you can’t help it, and you will forgive him for what he has done.

Therefore, it is not surprising that with such a face here, even if the Internet has changed, it is no longer the wave of people who used to surf the Internet, but people will still fall for the same face again and again. Although it is said that the aesthetic is degraded now, the reason for the degradation is not that everyone’s aesthetic is not good, but more because there is nothing good for everyone to see. Since there is something good to see, why do people choose bad things?

The character is not bad, and digging the old man will not collapse the house.

Now the biggest problem of these traffic stars is that they are easy to collapse. One by one, all kinds of scandals followed, such as divorce, marriage, hidden marriage and cheating marriage. In this way, a person who has been debuting for twenty or thirty years and basically has no black material is not afraid of the collapse of the house.

For some time, the biggest rumor spread to Wallace Huo was that he was whoring while filming, but Wallace Huo could not bear to take it to court directly, winning one fight at a time.

In addition, Wallace Huo has no problem with their hometown artists’ problems of playing big cards and political stance.

Wallace Huo’s filming habit is still very famous. He doesn’t need an assistant to carry an umbrella and carry water to wear shoes. He takes a little assistant alone and has no shelf at all, so he has the saying of retired cadres.

As well as his family background and his name, everyone can see that "Wallace Huo" doesn’t have any political stance that makes everyone criticize him.

The collapse of the house is really annoying. idolize, a fan, chased it well and ended up sleeping or paying taxes. On the one hand, the collapse of the house makes everyone feel that their true feelings have been fed to the dog. On the other hand, they really feel ashamed and like a person. How can the other party collapse? Hating yourself is really bad. Wallace Huo, for example, has been in the entertainment circle for most of his life, and there are no black spots and stains in front of him, so it is reassuring to catch up.

It’s not surprising that the new powder can be used in into the pit.

When I made my debut, I shot an idol drama in Taiwan, China by mistake, but I was not satisfied with the ordinary idol drama. I went north to the mainland to shoot ancient costumes, and the ancient costumes also became popular. The quantity and quality of his works can stand the test.

Nowadays, these young artists can only watch one or two works, and most of their achievements are based on the data boasted by fans. Compared with so many works that can be seen in Wallace Huo, it is far from enough. Even the characters who were spit out at the beginning are all works that look very good now.

Ruyi’s Royal Love in the Palace, which everyone talks about the most, feels that he has been crushed by Zhou Xun in all directions, but we have to say that his role as Slag Dragon is indeed worthy of so many women’s love for him.

There is also "A Strange Man and a Plum", which is just like this time "One Mind to Pass the Mountain". This drama is really good-looking, and Douban scored 8.5, which is called the last swan song of martial arts drama. The loyalty of the squad; Distinctive setting and shaping of characters; Unique music assistance, anything is hard to see at the moment, let alone a combination. Many other ancient works of Wallace Huo can also bring them a lot of joy when they dig graves in Xinfen.

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:

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Mazda 3 Angkor Serra has performed well in body size, with a length * width * height of 4,662 * 1,797 * 1,445 mm and a wheelbase of 2,726 mm respectively. The body lines are smooth and dynamic, and the front and rear wheel tracks are 1568 mm and 1581 mm respectively, ensuring a stable driving posture. Equipped with tyre size 205/60 R16, the rim style is simple without losing the sense of movement, which improves the visual effect and driving performance of the whole vehicle.

The interior style of Mazda 3 Angkeira is simple and sporty, creating a fashionable and elegant atmosphere. The steering wheel is made of plastic, which provides good grip and maneuverability, and supports manual adjustment up and down and back and forth, so that the driver can find the most comfortable position. The center console is equipped with an 8.8-inch high-definition touch screen, which supports a variety of functions, including multimedia playback, navigation and vehicle settings. In addition, the car also provides two USB ports and an SD card slot, which is convenient for passengers to connect external devices and play media files. The seat is made of fabric. The main seat has the functions of fore-and-aft adjustment, backrest adjustment and height adjustment (4 directions), while the co-pilot seat supports fore-and-aft adjustment and backrest adjustment to provide passengers with a comfortable sitting position. The rear seats can be laid down in proportion, which increases the flexibility of luggage space.

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Want to buy Ruifeng M3 2023 1.8L 7/8-seat Elite Edition, but the funds are limited? Buying a car by stages is a good choice. However, in addition to the cost of car purchase, there will be additional expenses involved in the loan process. Let’s make a detailed calculation:

Bare car price: The starting price of Ruifeng M3 2023 1.8L 7/8-seat Elite Edition is 72 800 yuan, which is a basic investment.

Overview of loan fees:

• Down payment ratio: 30%, that is, about 21,840 yuan is required as the down payment.
• Interest rate: 4.75%, affecting the monthly payment.
• Monthly payment: About 2,230 yuan, is the monthly repayment amount.
• Total interest: 2,560 yuan, is the extra expenses accumulated during the loan process.

In addition to loans, there are some essential expenses:

• Purchase tax: According to the policy, it is estimated to be about 6,442 yuan.
• Licensing fee: Including the handling fee, it is about 500 yuan.
• Vehicle and vessel use tax: For vehicles with 1.6-2L displacement, it is expected to be 360 yuan.
• Insurance cost: Commercial insurance costs include third-party liability insurance, vehicle loss insurance, etc., and the total cost is about 8,763 yuan (data may vary from region to region).

All these expenses add up, and the total price of the car loan is about 88,101 yuan, including the loan principal and interest, as well as other necessary expenses for car purchase.

Remember, the above data are for reference only, and the actual expenses may vary due to personal credit status, bank loan policies and regional differences. Therefore, it is recommended that you consult local distributors or financial institutions to obtain the most accurate loan scheme.

Click to get the reserve price and calculate the car purchase to get the most personalized financial plan.

[Text/Observer Network Xiong Chaoran] Because of fear that the conflict between Russia and Ukraine will escalate again, the United States has been reluctant to provide Ukraine with or approve the use of long-range weapons that can attack targets in the hinterland of Russia. However, just as US President Biden’s term of office was about to end, he suddenly "gave the green light".

According to CNN local time on November 17th, citing two American officials, Biden has authorized Ukraine to use American long-range weapons in Russia, and this decision comes at a time when the Ukrainian army launched a surprise attack on the Kursk region of Russia this summer, and the Russian army has deployed nearly 50,000 troops to the region.

For Biden’s decision, Ukrainian President Zelensky responded on social media that "actions don’t depend on words, and missiles can speak for themselves". A spokesman for the Russian Foreign Ministry reiterated the "strongest stance" made by Russian President Vladimir Putin in September this year-this decision means that the direct participation of the United States, Europe and NATO in the Russian-Ukrainian conflict will greatly change the nature of the conflict.

Vladimir Zabarov, the first vice-chairman of the International Affairs Committee of the Russian Federation Council, even described it as an "unprecedented step" towards the Third World War on November 17, and Russia is bound to respond immediately. He also criticized the United States, especially the Democratic Party, for using Biden, the outgoing old man, to do this just when Trump’s return to power may bring some "peace", and he will no longer be responsible for anything in two months.

CNN also pointed out that although Biden hesitated for a long time, his "late approval decision" highlighted its "unusual symbolic significance". While Trump was constantly creating his own "peacemaker", Biden took over the Russian-Ukrainian conflict and added more risks.

An American official said that these long-range weapons are currently mainly used in the war in the Kursk region. The United States does not want to see Ukrainians lose Kursk as a "potential bargaining chip" and hopes that the Ukrainian army will hold Kursk as long as possible. After seeing the Russian offensive, Biden and his aides worried that this might lead to a dangerous new stage of the Russian-Ukrainian conflict.

It is reported that the United States has been considering the decision to allow Ukraine to use the American-made long-range army tactical missile system (ATACMS) in Russia for several months. American officials have always been divided on this issue. Some people are worried that this will lead to an escalation of the conflict, while others are worried that the US military’s weapons inventory will be reduced.

In the first two years of the Russian-Ukrainian conflict, the United States even refused to provide Ukraine with long-range ATACMS, partly because of war preparedness concerns, because this powerful missile takes time and complex components to produce. However, Biden secretly approved Ukraine to use long-range ATACMS missiles in its territory in February this year, and delivered the missiles in April.

On August 6 this year, Ukraine sent a group of military personnel into the Kursk region of Russian territory, which was the largest attack launched by Ukraine on Russian territory since the outbreak of the Russian-Ukrainian conflict. In a video speech on the evening of August 10th, admitting for the first time that Ukrainian troops are attacking Russian border areas, Zelensky called on western allies to make a "strong decision" and lift the restrictions on Ukrainian troops using western weapons to carry out in-depth attacks on Russian territory. Since then, he has also constantly "pressured" the United States and the West on this issue.

During his visit to the United States in September this year, when Zelensky met Biden at the White House, he brought a detailed list, which listed that he hoped to strike targets in Russia with long-range missiles provided by the United States. This list is also a key part of Zelensky’s so-called "victory plan".

Now, with Biden’s "green light", Zelensky responded on the social media "telegram": "Today, there is a lot of discussion in the media about our permission to act. Action is not achieved by words. Such a thing does not need to be announced. The missile will speak for itself. "

In addition, regarding the provision of long-range missiles to Ukraine by countries such as Britain and France, we are actually waiting for the decision of the United States. Earlier, former British Prime Minister Johnson and five other former British defense ministers urged Prime Minister Stamer that Britain should allow Ukraine to use long-range missiles to attack Russian deep targets even without the support of the United States. Today, Biden’s latest decision seems to allow countries such as Britain and France to relax this control, but Britain and France have not responded yet.

On August 27th, Russian Foreign Minister Lavrov said that the West was "playing with fire" by considering allowing Ukraine to use its missiles and other weapons to strike targets in Russia at a long distance. He warned that World War III would not be confined to Europe.

After major US media reported that Biden had approved Ukraine to use long-range weapons in Russia, Russian Foreign Ministry spokesman Zacharova responded concisely on November 17th local time, saying that "Russian President Vladimir Putin has expressed his views on this matter".

In the face of persistent speculation by the United States and Britain, Ukraine will be allowed to use long-range weapons to attack the Russian hinterland. On September 12, Putin said that lifting the restrictions on the use of western weapons against Ukraine will greatly change the nature of the conflict, which means that the United States and its allies are directly involved in the conflict with Russia and will be "appropriately responded" by Russia.

"Therefore, this is not a question of allowing the Ukrainian regime to use these weapons to attack Russia, but a question of determining whether NATO countries are directly involved in military conflicts." Putin said: "If this decision is made, it will mean that NATO countries-the United States and European countries-will directly participate in the Ukrainian conflict. This will be their direct participation. Of course, this will greatly change the nature of the conflict. "

Reuters commented that this is Putin’s "toughest speech" on the issue of upgrading aid to Ukraine by western countries so far.

The Tass news agency reported that Vladimir Zabarov, the first vice-chairman of the International Affairs Committee of the Russian Federation Council, pointed out on November 17 that it was an "unprecedented step" for the United States to authorize Ukraine to carry out long-range strikes against targets in Russia, which would lead to the outbreak of World War III, but Russia would respond immediately.

"I don’t think they will catch us off guard, I believe that. However, this is an unprecedented step. It is a big step towards the outbreak of the Third World War, and Americans will use the hand of an outgoing old man to do this. He will no longer be responsible for anything in two months. "

"It is futile for outgoing Democrats to make such dirty provocations," Zabarov said. "They have substantially reduced Trump’s freedom to start talking about peace. Many people have expressed the need to stop the conflict, and even Scholz has begun to call our president. Some positive actions have begun."

In another analysis report, CNN pointed out that just as Ukraine had asked the United States for Haima rockets, Abrams tanks and F16 fighter jets, Biden’s decision to allow Ukraine to use American long-range missiles in Russia followed a familiar pattern-it was almost too late to approve it.

CNN mentioned that there are several reasons for Biden’s delay in approving:

According to the report, however, the White House is keen to speculate on the so-called "North Korea’s military aid to Russia" recently, and claims that this move is the US response to Russia’s escalating situation. In Biden’s view, "North Korea’s military aid to Russia" is an upgrade, and his "green light" is a response to this upgrade.

However, CNN believes that because the action approved this time is "of unusual symbolic significance", Biden’s delay for so long has made his latest decision "more effective" and increased the risk of taking over the Russian-Ukrainian conflict after Trump took office. As we all know, Trump has repeatedly advocated his "peacemaker" and threatened to "end the Russian-Ukrainian conflict within 24 hours", but his "bet" on taking over this conflict has increased significantly.

This article is an exclusive manuscript of Observer. It cannot be reproduced without authorization.

　　Tianjin Xinhai Zhongbang Automobile Sales Co., Ltd. is a professional import automobile sales service company. Since its establishment, the company has been adhering to the business philosophy of "altruism" and the purpose of "customers are proud of service", providing "customized service" and "personalized choice" car purchase services!

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　　The appearance of the 18 Land Rover Range Rover Sport Edition has been changed. The angular lines have been replaced by new shapes and softer corners, and the appearance is more streamlined. The headlights and taillights are square and round, and the wide grid-like horizontal net is the most fascinating, and the brand "LOGO" on the right side of the net shows the identity of Land Rover. From the front face design, the Land Rover Range Rover Sport Edition adopts a double-spoke air intake grille, and the trapezoidal bumper and lower guard plate show its wildness. The shape of the headlight is sharper. The circular angel eye headlight is designed with a flat bottom, and the front bumper is decorated with a silver guard. The new car adopts Range Rover’s iconic interlocking ring design, and the taillights also adopt LED technology, highlighting the unique charm of Land Rover Range Rover Sport Edition.

　　The front part of the new front face can be described as refreshing. It can be said that the front grille with mesh structure replaces the banner grille of the current model. Compared with the old model, the square grille has also brought us a strong visual impact. At the same time, the fog lights on both sides of the square have been redesigned to make it look stronger. The whole grille has a stronger sense of movement and complements its name.

　　The lower roof, sloping roof contour and lighter weight of Land Rover Range Rover Sport Edition all show the dynamic image of the new generation Range Rover Sport Edition. Land Rover Range Rover Sport Engine is attractive for its exquisite style. The automatic start-stop function helps Lanzhou to achieve lower fuel consumption. It has an enhanced body geometric structure design that adapts to all-terrain road conditions, and the maximum wading depth of the vehicle is also significantly improved, and it has an original wading sensing function. The smooth and dynamic lines of the 18 Land Rover Range Rover are more fashionable, the curb weight of the car body will be reduced, and the streamline design of the whole car will be more dynamic, which will bring a lot of strong urban fashion SUV atmosphere to this car. The sharp corner design at the top of the car and the narrow slit front and rear light groups are the highlights of the new car.

　　The design layout of the entire center console of the 18 Land Rover Range Rover Sport is simpler, and the arrangement of buttons becomes simpler. The new car adopts brand-new four steering wheels, the steering wheel has undergone a brand-new design, and the layout of multi-function buttons has also changed. The functions integrate the familiar adaptive cruise, Bluetooth phone and steering wheel heating. A 10.2-inch LCD touch screen contains a rich human-computer interaction system. Through humanized and intuitive design, the dashboard keeps the owner in the central area of the cockpit and everything is under control. The side support of the commander’s seat is wider, and it can realize 14/18 multi-directional electric adjustment, and the straight driving position provides a better front view.

　　There is no change in the rear row of the 2018 Land Rover Range Rover Sport, but the leather wrapped in the seat of the whole vehicle is changed from high-grade Oxford punching to Windsor leather material, and with the wing headrest, the comfort is further improved. In order to ensure the space in the back row, there is almost no bulge in the middle of the floor, which is very rare for a four-wheel drive, and it also increases the comfort for the passengers sitting in the middle, and the space for footsteps is also relatively spacious.

　　Basic parameters of the 2018 brand-new Land Rover Range Rover Sport Edition: length * width * height 4851*2073*1781MM Engine: 3.0T 385 HP (HSE Dynamic)V6 wheelbase: 2924MM Fuel tank volume: 105L Maximum trunk volume: 1761L, number of gears: 8-speed automatic manual, Maximum power: 283KW, maximum torque: 450N.M, maximum power revolution: 6500, driving mode: front four-wheel drive body structure: load-bearing, fuel consumption per 100 kilometers: 10.2, acceleration per 100 kilometers: 7.1 seconds, and maximum speed: 210(km/h).

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　　Disclaimer: The above car purchase preferential information is provided by the comprehensive distributor of Sina. com, and the price fluctuates greatly due to market factors, which is only for car purchase reference; The distributor is responsible for its authenticity, accuracy and legality, and this website does not provide any guarantee or assume any legal responsibility.

China Fund Journal, Taylor

Hello everyone, 2023 is coming to an end! Just look at some news, and we’ll go on vacation.

Wang Jianlin continues to sell Wanda Plaza

In just a few days, Wang Jianlin sold three Wanda plazas!

On December 29, Guangzhou Luogang Wanda Plaza Co., Ltd. had an equity change, and Dalian Wanda Commercial Management Group joint stock company withdrew from the company’s shareholders, 100% owned by Suzhou Lianshang Sihao Commercial Management Co., Ltd., the latter controlling shareholder is Zhonglian Qianyuan Real Estate Fund.

On December 25 and 26, Dalian Wanda Commercial Management withdrew from the list of shareholders of Taicang Wanda Plaza Investment Co., Ltd. and Huzhou Wanda Investment Co., Ltd. The two companies added Suzhou Lianshang No. 3 Commercial Management Co., Ltd. and Suzhou Lianshang Wuhao Commercial Management Co., Ltd. as full shareholders respectively.

The official website shows that Zhonglian Fund focuses on the real estate financial business with REITs as the core, with real estate securitization as the entry point and extending to both ends, forming three business lines of real estate investment incubation, real estate securitization investment banking, and securitization product investment, and laying out the whole business chain of real estate with various themes.

Under Wang Jianlin’s previous plan, Wanda Group would sell some of its Wanda plazas nationwide in exchange for liquidity.

On December 12, Wanda’s gambling crisis was lifted. PAG and Dalian Wanda Commercial Management Group jointly announced the signing of a new investment agreement. PAG will work with other investors to reinvest in Zhuhai Wanda Commercial Management after its investment redemption period expires in 2021 and is redeemed by Dalian Wanda Commercial Management Group. Existing investors invested about 38 billion RMB in Zhuhai Wanda Commercial Management in August 2021, of which PAG’s investment is about 2.80 billion US dollars (about 18 billion RMB). Existing investors enjoy redemption rights in the original investment arrangement.

According to the new agreement, Dalian Wanda Commercial Management holds 40% of the shares, making it the single largest shareholder. Several existing and new investors such as Pacific Alliance will participate in the investment, with a total stake of 60%. Wanda will work with Pacific Alliance and other important shareholders to further optimize the corporate governance of the company, maintain the stability of the management team, and jointly support the long-term development of the company.

The market believes that the signing of the new agreement may mean that Wanda’s huge share repurchase crisis has been temporarily lifted. However, comparing the equity data, it will be found that the shareholding ratio of Dalian Wanda Commercial Management Group in Zhuhai Wanda Commercial Management has dropped significantly, and it has "lost weight" a lot.

The Shanghai Stock Exchange has notified Industrial Bank of abnormal stock trading

On the evening of December 29, the Shanghai Stock Exchange issued a notice on the abnormal trading situation of the closing auction of Industrial Bank shares on December 29, 2023.

The notice shows that during the closing auction stage on December 29, 2023, the stock price of Industrial Bank fluctuated sharply. After preliminary verification, it was caused by an investor declaring a large transaction at a price that obviously deviated from the latest transaction price of the stock. The Shanghai Stock Exchange will conduct further in-depth verification of the relevant situation and take corresponding measures according to the verification results.

Original title: "Wang Jianlin, sold!"

Read the original text

　　"Stimulate the battlefield below the golden level, 80 AI in one game", this is a topic that cannot be avoided recently about mobile PUBG.

　　Regardless of whether the chicken-eating mobile game is really ***ting cold, after all, it is not uncommon for such a hundred-person online mobile game to use robots to make up numbers to speed up the matching rhythm. But why, almost everyone who has played the exciting battlefield will invariably question – "These are all robots, right?" The answer is obvious, the robots used to make up numbers are really ******.

　　Without collecting equipment, without looking for cover, with poor marksmanship, and slow response… In a game where everyone has a lot of tricks, these special players are like couriers delivering equipment, which is very abrupt. Even if it is to take care of the gaming experience of novice players, but in high-end games, they will also encounter such "silly and sweet", which makes people wonder: Can’t these AIs be smarter?

　　Today, we will discuss the past, present, and future of AI players in the history of gaming.

　　Evolution history of game AI

　　Since the birth of video games, there has been a shadow of game AI, whether it is the earliest oscilloscope tennis or tic-tac-toe, especially in the past when multiplayer online games were still trapped in the difficulty of popularizing network technology. AI in stand-alone games has become the most reliable companion for players and the absolute overlord of the game world at that time.

　　In a sense, the prototype of video game AI may have already appeared in the classic arcade game "Pac-Man". At that time, the AI in the game was beginning to rise around the world, and "Pac-Man" at that time made a great attempt in this regard. There are a total of 4 different colors of monsters in the game, and each monster has a different pursuit algorithm, and all monsters have a unified goal of encircling and chasing. Therefore, in the game at that time, those monsters did not line up to chase the player, but "chased and intercepted" the player from different paths and methods, and there may be different choices at each intersection. This mechanism has made Pac-Man a significant attempt for modern video game AI, and has also made Pac-Man a classic in the hearts of gamers.

　　Since then, more classic games have begun to revolve around opposing AI characters, such as Super Mario Brothers, The Legend of Zelda, Prince of Persia, and Mega Man 2. In these popular games, AI has become the key to ensuring the game experience and controlling the difficulty of the game. At that time, the core of the game was actually the confrontation between the player and the AI, but in different ways.

　　At that time, the ultimate purpose of AI was to let players defeat and then gain a sense of achievement. However, AI at that time was still in the "pseudo-intelligence" stage, and the actions of the relevant virtual characters in the game were based on a series of scripts set in advance based on the conditional judgment language.

　　However, as game types and gameplay have evolved, the roles and functions of AI have also changed. A typical example of this is 1987’s Metal Gear, in which AI first appeared in the game as a player’s equivalent, was given the role of patrol, and for the first time added the hostile reaction mechanism to the player. This mechanism gradually formed the enemy alarm mode of the core NPC in the Metal Gear series. The appearance of this AI mode also further expanded the mission and role scope of AI in the game.

　　With the rapid development of hardware, algorithms, and computing power in the video game industry over the past 30 years, the pace of evolution of AI in games has gradually widened compared to that of human players. Especially at that time, most game mechanics were testing the player’s reaction and operation. In these aspects, AI has quickly destroyed humans. First-person shooter games are a good example.

　　Starting with Counter Strike in 1999 and then Road to Survival, Valve laid the foundation for AI in FPS games, but in the early years, robots in CS have always been one of the places where players complain. At that time, robots were responsible for filling vacancies in the game. They had no other role than being cannon fodder and meat shields, because they basically acted according to easy-to-master rules, and most non-novice players could easily kill them.

　　However, it is not difficult for those familiar with FPS games to find that in recent years, the AI in many FPS games has become more and more "brutal", and the difficulty level has also increased. In many cases, the highest difficulty AI combat power has far exceeded that of most players. In a recent online elite game of "CS: GO", there was an amazing scene – a robot named BOT Connor single-handedly killed the members of the opposing team.

　　Today, AI is beginning to surpass humans in all aspects of different games, and even the various chess games that humans are proud of have long been beaten by IBM, Google and other tech giants. Not long ago, Go was completely lost without accident.

　　Humans are responsible for inventing games, while AI is responsible for conquering games and players, which seems to be an irreversible trend. But in fact, there is always a battlefield in the field of games, where AI cannot completely defeat humans.

　　Real-time strategy, humanity’s last "high ground"?

　　After AlphaGo’s 3-0 victory over Ke Jie in May last year, many people lamented that humanity had become a complete catch-up on the road of "Game". However, AlphaGo did not think so, because it has another goal – "StarCraft".

　　As early as 2016, after AlphaGo defeated Lee Sedol, Deepmind announced that it would challenge StarCraft players with AI in the future. But a year later, when AlphaGo was already alone in the Go world, AI was still "crushed" by top human players in the game of StarCraft. Google’s DeepMind practiced for a year and couldn’t even beat simple NPCs. In a game at the end of 2017, CherryPi from Facebook AI Research Institute was also swept by South Korean former professional player Song Bingju 0:4.

　　The momentum of AI’s destruction in other fields seemed to stop abruptly in the face of StarCraft, all because of the characteristic mechanism of games like StarCraft, the fog of war.

　　"StarCraft" is a game like Go, but the addition of the "Fog of War" mechanism has become a gap that AI cannot cross.

　　In the game of Go, both sides could see each other’s current situation at any time, which meant that the player had no hidden information, and all the information in the past was clear at a glance. The so-called knowing oneself and knowing one’s enemy depended on the player’s thorough understanding and imagination of the rules of the game.

　　In real-time strategy games such as StarCraft, the fog of war makes it impossible for both sides to know all the information in the game. In this case, based on the limited information collected to make judgments and decisions about the dynamic situation, when to do what, many times need to rely on inference and guesswork. This is the "incomplete information game" that makes AI headaches, and games like Warcraft, Dota, etc. belong to this category.

　　There is a common phenomenon between top AI and humans in such games – winning the battle and losing the war. If you analyze the gap between AI and humans, intuitively, it mainly lies in the "big picture" and "rhythm" aspects.

　　As Geek Park mentioned in the previous article "Win Go first, then win the tower, and how can artificial intelligence catch up with humans in the game?", in this type of game, the change of strength is more dynamic, no one is absolutely strong and weak, the real winner may be at a certain point in time to seize the weakness of the other party, and the judgment of this point in time is a complex decision made through investigation and empirical judgment. Both sides of the game can change the direction of the battlefield by inducing and feigning attacks. Even if they are weak, they can achieve the transformation of the situation through some psychological games.

　　When to attack, when to retreat, where to attack, divide and outflank, sneak attack and harassment, feint and lure… In the incomplete information, it is difficult for the AI to tease out absolutely valid logic to support the decision, so it is difficult to make key judgments at the right time.

　　Therefore, in the past, many real-time strategy games could only improve their AI level by increasing their AI resource income, building speed, and fully opening the map. Under the same restrictions as human players, it was difficult to simply rely on operations to win the entire game.

　　Where is the future of gaming AI?

　　Perhaps AI will soon be able to defeat humans in the field of real-time strategy games, but that is not the future of gaming AI.

　　With the investment and guidance of tech giants such as Google, Facebook, and IBM in this regard, it is not surprising that AI is likely to defeat humans in real-time strategy games in the future. For humans, it is more important to make better use of the development of AI to provide players with a better gaming experience. Just like when AlphaGo defeated Ke Jie, AlphaGo did not destroy the 3,000-year-old game, but opened the door to a new world of Go for humans through its own advantages.

　　Regarding the exploration of the future of game AI, the famous game masterpiece "GTA5" is a perfect case. This open game with high realism and complexity has huge randomness, providing players with an unprecedented gaming experience. What’s more interesting is that this game has also become an experimental field for many autonomous driving AI. Intel Labs, Darmstadt University of Technology in Germany and Princeton University have all chosen to use the "GTA5" game to train artificial intelligence for autonomous driving.

　　You know, smarter AI in the game can do far more than just defeat opponents, more importantly, according to the development of the plot and player characteristics, to provide a more perfect game experience, which can be dynamically increased difficulty, of course, can also be reduced, everything is to make the game more interesting to play.

　　There is no need to worry too much about whether AI will eventually defeat humans, after all, we still have Werewolves. If one day AI can really read words, read expressions, and tone, and then deceive all humans to win, that will be the end of AI…

　　Sina Technology official account

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CCTV News:Since the 14th Supervision Team of the Central Committee for Eliminating Evil entered Heilongjiang, it has taken cases with high public concern and great social impact as the key supervision work to follow up and promote the progress of cases.

Yu Huajie, member of the Standing Committee of Harbin Municipal Commission for Discipline Inspection:In August 2018, we received a large number of reports from the masses, especially from some electric power construction enterprises and construction people. It reflects a series of problems, such as corruption, bribery, monopoly and so on, of Li Wei, deputy general manager of Harbin Power Supply Company of the former State Grid, and his younger brother (Li Tong, former chairman of Harbin Electric Power Industry Company). We immediately launched an investigation under the leadership of the Municipal Party Committee of the Provincial Commission for Discipline Inspection, and took lien measures against them in a timely manner according to law.

　Li Wei, the eldest brother of the Li family, was then the deputy general manager of Harbin State Grid Corporation. He had nearly 1 billion yuan of power engineering projects in his hands every year. As his younger brother Li Jian, he started a private power engineering company with his friends, and his business naturally flourished under the care of his brother. Li Tong is the youngest in the family. He started as an ordinary worker. After his brother Li Wei was promoted from the position of chairman of Harbin Electric Power Industry Group Company to the position of deputy general manager of State Grid Harbin Company, he directly took over his brother’s position and became the main person in charge of the company. The two brothers took up leadership positions through illegal means, and this was only the beginning of the three brothers of Li’s taking up the road of black crimes.

Collusion in bidding and violence to suppress monopoly power projects

Since 2010, since Li Wei served as assistant director of Harbin Electric Power Bureau and chairman of the electric power industry group, he has been monopolizing the electrified connection project in the whole city. Through collusive bidding, they first won the bid with the electric power industry group, and then subcontracted the project to the company started off-line by their younger brother Li Jian and the black-related organization. In a few years, they almost monopolized the construction of the electric power project in the whole city.

　Boss Li Wei

Tao Chengquan, a policeman of Harbin Public Security Bureau:According to statistics, since 2010, the Li brothers, a criminal gang, monopolized 76.7% of the power projects in Harbin. They monopolized these power projects by means of bidding and violent suppression, and directly distributed them to the secondary companies controlled by the members of the organization, which in turn handed them over to downstream companies for construction.

Refusal to pay for subcontracted projects is forced to pay with goods.

In 2017, Mr. Ma of Harbin became the construction company they subcontracted. What was the result? During the central supervision team stationed in Heilongjiang, Mr. Ma came to the station to reflect his experience.

Mr. Ma from Harbin:These 22 substations should be around 11 million, and my own capital investment is 4.3 million, but so far I haven’t got a penny. He gave us a car with a market price of 700,000 at that time at a price of 1.5 million pieces, and the house and watches were several times higher than the market price. If you don’t want it, there is no money. Anyway, this is the thing.

I squander my money and my employees can’t pay.

There are more than 70 injured companies in Harbin, where Mr. Ma also suffered. All of them could not get the money after completing the construction, but the three brothers Li gained huge benefits in a short time. After a joint investigation by the Supervision Committee of the Harbin Commission for Discipline Inspection and the task force of the Public Security Bureau, in the past 14 years, the Li brothers’ triad-related organizations have made illegal profits of nearly 3.4 billion yuan.

Tao Chengquan, a policeman of Harbin Public Security Bureau:After they had money, they bought a lot of real estate, luxury cars and antique cultural relics all over the country. As a collective enterprise, more than 100 employees went to the provincial government all the year round to report the situation because they could not pay their wages.

On the one hand, there are hundreds of employees who can’t get paid, and on the other hand, there are 96 luxury cars with nearly 100 million yuan. At the same time, the task force also detained 135 properties purchased by the Li brothers’ triad-related organizations all over the country.

96 high-end cars that received bribes were worth nearly 100 million yuan.

Since the central supervision team entered Heilongjiang, it immediately took this triad-related organization as the key supervision case and went to the case-handling unit several times to understand the progress of the case. Members of the Central Supervision Team came to the detention center of the Municipal Public Security Bureau to interrogate Li Wei, who had been criminally detained.

Luxury cars full of parking lots

During more than two hours of interrogation, Li Wei told the Central Supervision Team about other leading cadres’ participation in business operations, bribery and crimes. According to the investigation, Li Wei, together with his younger brothers Li Tong and Li Jian, made huge profits in power projects, and also accepted bribes of more than 20 million yuan from other companies. In June this year, 96 high-end cars photographed by the task force of Harbin Public Security Bureau during the seizure of criminal goods filled the parking lot, with an estimated value of nearly 100 million yuan.