1905 movie network news Zhao Liying starred in the ancient social family drama "Do you know if you should be green, fat, red and thin" is on the air. Sheng Minglan, played by Zhao Liying, has retreated from forbearance to revenge for her mother. The plot has a climax, Zhao Liying’s emotions have exploded, and it has also set off a wave of discussion on the Internet.

In the play, after Sheng Minglan finds out the truth about her mother’s death, she is calm on the surface and has already started to play a big game of chess. Minglan first tests her father (played by Liu Jun), and then angers Mo Lan (played by Shi Shi) to make her mistake punished, and then she is jealous and has to take risks. She frequently hooks up with Liang Liulang (played by Wu Hong), and then designs to use Wang Dainiangzi (played by Liu Lin) to break through the scandal, and it is reasonable to sit on the truth. Mother and daughter are one, Mo Lan brewed a monstrous disaster, and Lin Xiaongnang (played by Gao Lu) is also to blame. Minglan’s transparent and exquisite heart carries the audience step by step, attacking Lin Xiaongnang Mo Lan’s scourge mother and daughter.

After Sheng’s father hit Lin Xiaongnang on the board, Ming Lan walked back to the room with a calm expression on her face that slowly stretched out. There was an imperceptible smile, and her eyes seemed to be flashing with relief. This kind of emotion from the inside out was difficult to control, but Zhao Liying held on. After learning of Lin Xiaongnang’s death, Ming Lan took the initiative to admit her mistake to her grandmother and analyze the whole process of revenge. Ming Lan, who had always been a little obedient and obedient, mentioned that the revenge for killing her mother finally broke out, "Even if my granddaughter dies, she has to climb out of the grave and take revenge." Her eyes were firm, and the lethality in it was full of deterrence. After being slapped by her grandmother, Minglan’s eyes were full of tears and aggrieved, and netizens couldn’t help but praise, "What kind of immortal acting is Zhao Liying, I cried when I saw it", "Contracting Yingbao looks domineering and aggrieved".

In the following plot, Minglan enters the palace to give food to her father and brother. Unexpectedly, what will she choose when she encounters the usurpation of the throne? What will be the emotional development of Minglan and Gu Tingye’s "uncle and nephew CP"? It is reported that this week is about to usher in the wedding of Minglan and Gu Tingye, so stay tuned.

In the context of the global digitalization wave, data is constantly integrated into all aspects of life and production, and digitalization is becoming a new growth point and new driving force for China’s economy. Yunli (Ticket Easy Pass), the pioneer and leader of enterprise collaborative services in the field of digital economy, joins hands with Staples, the world’s leading office supply company, to jointly create an efficient and transparent financial supply chain system, and promote the implementation of Staples’ financial intelligence system! Help Staples achieve cost reduction and efficiency, and become a pioneer enterprise led by digital intelligence!

Mr. He Jun, vice-president of finance at Staples, said: "The ultimate goal of Staples’ digital innovation is to further improve the operational efficiency of its partners, with value creation as the core and empowering the business as the principle. On the road of digital transformation, Yunli’s excellent product strength and quality services have been helping Staples’ supply chain business to thrive."

Traditional procurement processes face digital transformation challenges

As the first office supply service provider in the industry to serve the whole country, Staples and its suppliers are prone to problems such as large reconciliation workload, low efficiency, and difficult monitoring of the whole order process based on the traditional supply chain procurement process, which hinders its progress in the digital age. Through digital settlement and collaborative products to open up communication barriers, upgrade automated invoicing systems, and improve business processing efficiency are Staples’ practical needs and expectations.

After a long period of research and rigorous selection, Staples has reached a strategic cooperation with Yunli (Ticket Easy Pass) in the global Enterprise Services field. In the upgrade of the digital financial supply chain system, step by step, from pilot operation to iterative optimization, and in the process of upgrading, the system is continuously promoted in the form of accelerated jogging.

Through solutions such as import and sales ticket tax management and supply chain settlement collaboration, Staples is helped to establish a digital intelligent supply chain system, achieve information connection, automatic decision-making, automatic adjustment, and whole-process optimization, effectively avoid fiscal and tax risks, improve efficiency, reduce fees and reduce taxes, and fully realize upstream and downstream coordination.

03 Deeply empower the value of the whole process of business collaboration supply chain

With the help of the Ticket EasyPass Settlement Collaboration Platform, Staples has achieved all-round management of orders from procurement, settlement, invoicing, billing, and payment, from the electronicization of invoicing and settlement to the electronicization of comprehensive transaction processes, ultimately achieving efficient business collaboration and value enhancement throughout the supply chain.

Value 1 Direct invoicing compliance Efficient

Using the "Settlement Collaboration Platform", Staples’ thousands of suppliers can receive the settlement data pushed by VP (Staples Supplier Settlement System) in a timely and accurate manner, and realize one-click issuance of online reconciliation invoices. The function of automatic ticket opening and matching tax classification codes avoids split errors, avoids staggering, reduces communication costs, realizes account matching, reduces costs and increases efficiency, and ensures efficient corporate invoicing compliance.

After using the collaborative platform to directly connect invoicing, the overall processing efficiency of bills increased by 80%, the single invoicing operation time was reduced by about 45 minutes year-on-year, and the probability of refund was reduced by 5% year-on-year, almost reaching 0 refunds.

Funding issues often have a direct impact on the health of the supply chain. For Staples, focusing on business digitalization is not only an important measure for its own development, but also a strategic deployment that reflects Staples’ business philosophy of integrity and win-win, and ensures the smooth development of partners’ business upstream and downstream in the supply chain.

Through the cooperative invoicing of Ticket Easy Pass settlement, the reconciliation information is confirmed online, and the invoicing information is reviewed in advance, the settlement efficiency is greatly improved, and the payment cycle of suppliers is greatly shortened. Through the Yunli (Ticket Easy Pass) digital platform, the transaction process of purchasers and suppliers is maintained, the financial pressure of suppliers is reduced, the overall supply is guaranteed to operate smoothly in a healthy and coordinated environment, and the last mile of settlement between Staples and upstream and downstream partners is connected.

Value 3 Smooth transition ticket electronic

The electronic issuance of special tickets has become the trend of the times. The Ticket Easy Pass Settlement Coordination Platform is the first batch of third-party platforms for the issuance of electronic special tickets approved by the national tax, and has obtained the filing of electronic invoices from 36 provincial tax bureaus across the country. When suppliers issue electronic invoices through the settlement coordination platform, Staples can receive the invoices, and the invoices and business orders are automatically matched without sending them. The system supports the invoicing requirements after the electronic issuance of special tickets. Under the special phone policy, Ticket Easy Pass can quickly iteratively meet the invoicing needs of suppliers, helping Staples to calmly cope with the trend of electronic issuance of special tickets.

By upgrading the traditional offline settlement model to online collaboration, Staples has reinvented its financial business data collection process, and realized the whole process information display of orders from procurement, settlement, invoicing, billing, and payment. This has laid the foundation for the comprehensive accumulation, fast processing, and real-time sharing of financial information, forming the transition from accounting to management.

Yunlianpin Yitong settlement collaboration platform, the whole process of order, return order, acceptance order, and settlement invoice data can be seen and traced. Through system construction and data analytics functions, we will build a financial "big data center" for Staples to help enterprises better perceive the economic and operating laws behind financial data, and completely subvert the transformation of decision-making based on experience into decision-making based on data insight.

04 Focus on collaborative connectivity to welcome the new digital future

Over the past 6 years, Yunli has successfully served more than 150 Fortune 500 companies, connected more than 1 million upstream and downstream suppliers, the cumulative transaction amount exceeded 20 trillion yuan, and technology empowered Walmart, McDonald’s, Vanke and other retail, real estate and other industry giants to achieve upstream and downstream enterprise collaboration and electronic ticket, boosting the construction of fiscal and taxation information.

The tide of digital transformation is unstoppable, Yunli is willing to work closely with Staples, continue to coordinate the entire supply chain system with a big picture view, provide accurate data support and high-quality services for the settlement process through the blessing of technology, and join hands with Staples, win-win growth, and jointly meet the new future of China’s industrial digitalization!

Original Sharla Cheung titanium media

Titanium Media TMTPost.com

| Science and technology lead the new economy |

Do you think the market value of Xpeng Motors will be super ideal?

Sharla Cheung, editor of Titanium Media

Following Weilai and Ideality, Xpeng Motors, a new car-making enterprise in China, also successfully listed in the US stock market.

On the evening of August 27th, Beijing time, Xpeng Motors was officially listed on the NYSE, with the stock code "XPEV". The opening price was $23.1 /ADS, up 56% from the issue price. At the close, Xpeng Motors’s share price closed at $21.22, up 41.47% from the issue price, with a total market value of $15.59 billion.

The issue price is superb and ideal.

The IPO price of Xpeng Motors was $15 /ADS, and a total of 99.73 million American Depositary Shares (ADSs) were issued, with a pre-market value of $11.021 billion.

It is worth noting that Xpeng Motors originally planned to issue 85 million shares of ADS, and the corresponding financing scale was US$ 1.28 billion. However, due to the higher-than-expected market demand, the issuance scale was increased to about 99.73 million shares, which means that the total amount of funds raised by Xpeng Motors this time is about US$ 1.5 billion.

At the end of last month, the issue price of LI, which landed on Nasdaq, was $11.5 per share, and the total amount of funds raised was $1.1 billion. On the day of listing, the pre-market value was $9.724 billion. Weilai listed in the US in 2018 at an issue price of US$ 6.26 per share, raising a total of US$ 1 billion, and its pre-market value on the day of listing was US$ 6.4 billion.

Comparatively speaking, Xpeng Motors’s listing price, pre-market value and fund-raising scale all exceed Weilaihe’s ideal of listing in the United States. This means that the head enterprises, a new force in car manufacturing, are still valued by the capital market, and the pure electric mid-to high-end market has been cultivated and matured by Tesla model3 and Weilai ES6. Compared with Weilai’s listing in that year, Tucki and Ideality are just in time to go public.

According to the prospectus, Xpeng Motors has completed 10 rounds of financing since its establishment. The latest financing was the C+ and C++ rounds in July and August this year, which raised 900 million US dollars. The investors included Alibaba, Aspex, Coatue, Gaoyou Capital and Sequoia China, and the post-investment valuation was 8 billion US dollars. In November last year, Xpeng Motors raised $400 million in Series C and introduced the strategic investment Xiaomi Group. By the end of the second quarter of 2020, Xpeng Motors had cash assets of 2.12 billion RMB, and its cash reserves were better than those of Weilai Automobile and LI before IPO.

At present, there are Internet giants behind the three new car-making companies, which have formed a pattern of "Weilai+Tencent, Ideality+Meituan, Tucki+Ali".

By August 28th, Weilai’s market value had reached US$ 23.5 billion, and its ideal market value was US$ 16.2 billion. From the market value, Xpeng Motors was closer to the ideal, and even exceeded the ideal on the first day of listing, but there was still a certain gap between them.

The strength of the three companies should not be underestimated, but from the product point of view alone, Xpeng Motors currently has two models G3 and P7 on sale, and plans to launch the third pure electric car before the end of next year; Weilai has three products, ideally only ONE Li ONE, and no new models will be launched within three years.

In addition, Tucki and Weilai take the route of pure electric technology, and the ideal is extended-range hybrid, and pure electric products will be launched later, but compared with Xiaopeng and Weilai, the ideal is a big step behind in pure electric.

The net loss in the first half of the year was 775 million.

Like Weilai and Ideality, Tucki has been in a state of loss.

According to the prospectus, in 2018, Xpeng Motors’s revenue was 9.7 million yuan and its net loss was 1.399 billion yuan; In 2019, it achieved a revenue of 2.321 billion yuan and a net loss of 3.692 billion yuan; In the first half of this year, Xpeng Motors’s revenue was 1.003 billion yuan, down 18.52% year-on-year (1.231 billion yuan in the first half of 2019), with a gross profit of-36.116 million yuan and a net loss of 796 million yuan. The gross profit margin narrowed sharply to-3.6% year-on-year (-38.23% in the same period of 2019).

In this regard, Xpeng Motors explained in the prospectus that the reason why the company experienced a year-on-year decline in revenue in the first half of the year was mainly due to the fact that most of the orders delivered in the first quarter of 2019 were accumulated in 2018, resulting in high revenue in the quarter; At the same time, due to the impact of the COVID-19 epidemic in the first quarter of this year, the speed of vehicle delivery decreased, which affected the income in the first half of this year.

It is worth noting that as of July 31st, Tucki G3 has delivered 18,741 vehicles, and Tucki P7, which started delivery in May this year, has delivered 1,966 vehicles, with a cumulative delivery volume of 20,707 vehicles.

From January to July this year, Xpeng Motors delivered 7,950 vehicles, Weilai delivered 17,702 vehicles and LI delivered 12,182 vehicles. Tesla Model 3 delivered 11,014 vehicles in July alone, ranking first in the sales of new energy vehicles in China.

As a car company whose main source of income is car sales, the decline in sales directly affects its income. With the current sales performance in Xpeng Motors, after IPO, it will face greater sales pressure.

Xpeng Motors predicted that the cost of batteries would drop significantly in the next 2-3 years. At the same time, by expanding vehicle types and production scale, sharing multi-platform effect, supplier collaboration, etc., we can also reduce costs and increase efficiency.

Although it continues to lose money, Xpeng Motors continues to invest in R&D. In 2018, 2019 and the first half of 2020, Xpeng Motors’s R&D expenditure reached 1.051 billion yuan, 2.07 billion yuan and 630 million yuan respectively, accounting for 89.2% and 62.9% of the total revenue in 2019 and the first half of 2020. Up to now, the accumulated R&D investment is 3.752 billion yuan, cumulatively.

Emphasize self-research ability

Xpeng Motors said that the proceeds from this IPO will be used for R&D and expansion of sales channels, and the remaining funds will be used for general corporate purposes.

In the prospectus, Xpeng Motors said that it has designed and developed its own software, core hardware and data technology, and it is the first new force car enterprise in China to independently develop and commercialize autopilot software (hardware is based on Xavier of NVIDIA, which supports L3 autopilot).

Xpeng Motors repeatedly emphasized self-research in the prospectus, including autonomous driving, intelligent operating system, internal powertrain and electronic and electrical architecture, and disclosed his own proprietary algorithms, including localization and high-precision map fusion; Camera-based perception and multi-sensor fusion; Behavior planning, motion planning and control.

In order to further prove its self-research ability, Xpeng Motors also disclosed a lot of key information, such as the use of ADAS: the adaptive cruise control function has accumulated 25.1 million kilometers of driving, and the lane centering control function has accumulated 11.1 million kilometers of driving.

Tucki also revealed some functions that the latest XPilot 3.0 will realize, and plans to launch the "navigation guided pilot" which can be used on expressways early next year, namely NGP, which can realize the functions of automatically changing lanes, overtaking other vehicles, recognizing traffic signs and adjusting speed.

In addition to software, Xpeng Motors has also achieved autonomy at the core hardware level. In the most critical three-electric system of electric vehicles, except for battery core procurement, battery management system (BMS) and battery pack are all independently developed by Xpeng Motors. And has completed the dual product line layout of SUV and car, becoming the only smart car company in China that has mastered the whole industry from design, research and development to manufacturing.

Risks after IPO

Although in terms of software, the new domestic car-making forces have certain competitive advantages. But compared with Tesla, there is still a certain gap. As to whether Xpeng Motors’s share price is inflated, an insider told the titanium media, "Let the bullets fly for a while. As a bulk product, automobiles ultimately depend on product strength. If the sales volume can continue to grow, the capital market will continue to be optimistic. If it is a bubble, it will burst sooner or later. "

Listing is a double-edged sword, with advantages and disadvantages. Building a car is a process of heavy assets and long-term investment, and it is difficult to make a profit in the short term. For the new forces of building a car, listing is not only a manifestation of fulfilling their promises to investors, but also a way to attract other capital. At the same time, talents will also flow to the head enterprises in large numbers, thus ensuring that there is enough "ammunition" to go forward and fight.

At the current time node, the market prospect of new energy vehicles has been clearly visible. Behind the new forces competing to go public, they are more looking for opportunities to survive. Xpeng Motors’s choice of IPO is also a key step.

However, listing will also bring risks, and some of its own problems will be exposed in the capital market without any cover. For Xpeng Motors, a large amount of R&D investment will follow, and if the sales volume cannot be greatly increased, the loss will be enlarged.

Coupled with the limited number of models on the market and the charging services such as software ordering, there is also great uncertainty whether it can meet the expectations of users.

In addition, some core technologies, such as batteries and semiconductors, are dependent on suppliers, and the charging service is mainly dependent on third-party cooperation, with risks such as cooperation renewal and quality control, and the new Zhaoqing factory has operational risks, which will bring many uncertainties to the subsequent development of Xpeng Motors.

For Xpeng Motors, listing in the United States is just the beginning, and there will be many challenges in the future. How to continuously improve the product strength and become a real breaker in the new energy vehicle market is the key.

(This article is the first titanium media, author/Sharla Cheung)

Original title: "Xpeng Motors IPO with a market value of $15 billion, and its share price rose by 41% on the first day"

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　　Zhongxin. com Sanya, December 18th
(Zhang Yue and) wearing a VR device, holding the handle with both hands, pressing the button can make a grabbing action in virtual reality, or interact with the protagonist; Turn your head, and the picture you can see will change accordingly, giving people an immersive feeling. Film technologies such as VR movies and CG special effects are increasingly entering the field of mass culture.

　　In recent years, China has gradually become the largest movie consumption market in the world. At the same time, movies are moving from the film era to the digital era. The evolution of VR movies, artificial intelligence and other technologies has also brought opportunities for China’s film industry to "overtake in corners". At the 5th Hainan Island International Film Festival being held in Sanya, many people in the film industry discussed the related topics of technological innovation empowering the development of China’s film industry.

　　On December 18th, the 5th Hainan Island International Film Festival "Film Digital Rights Management Forum and Film Science and Technology Innovation Forum" was held in Sanya. zhang yuehe
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　　Ji Feilong, a Hollywood China actor and producer, said that in recent years, The Wandering Earth and Moon Man have emerged in domestic films, which have reached a higher level in science and technology and special effects. However, on the whole, the application of scientific and technological innovation in most domestic films is still at a relatively weak level, and it takes time to accumulate.

　　Wang Shu, deputy director of the Special Committee of Science and Film Integration of China Popular Science Writers Association, said that the integration of technology and film is deepening, which is not only reflected in the intervention of scientific consultants in sci-fi movies, but also in the improvement of the ability of film shooting hardware and equipment by the transformation of scientific and technological achievements. In this process, we must first overcome the concept of "buyism" in order to truly establish an independent technology chain of China film industry.

　　"Digital technology has brought subversive changes to today’s society and has also had a huge impact on film creation." Quan Rongzhe, vice-president of China Film Academy and professor of Beijing Film Academy, said that, for example, through the dynamic demonstration of scenes, characters, environment and shots in the film in advance, the style and trend of the film can be predicted before filming, so as to anticipate the problems that may be encountered in the filming process, which also shows that the "gold content" of design in film production will be higher and higher.

　　Director Zhao Linshan said that from the practical level, it is a good shooting experience for the director to be able to try and make mistakes in advance through technology, but film technology is only a tool. As an art, while using the latest scientific and technological achievements to pursue better presentation results, we should not forget the traditional film shooting style and other links.

　　During the 5th Hainan Island International Film Festival, people experienced VR movies on the spot. Photo courtesy of Hainan Island International Film Festival Organizing Committee

　　Film technology not only attracts the attention of people in the industry, but also in the VR movie experience area set up by the film festival, many people try to feel "immersive" viewing. "I feel a little dizzy, but the experience is cool and it is a new thing that young people will like." Xu Daosheng, a citizen who experienced VR movies for the first time, said that the effect of VR movies is closer to the real world than watching movies in cinemas, and it is not restricted by the venue. After learning about it, I found that the equipment price is not as expensive as I thought. Interested people can buy it and experience it at any time. (End)