On the evening of July 5, there was another heavy news in the securities industry. The issuance supervision department of the CSRC issued the "Answers to Some Questions about Refinancing Business", which clarified the details of the auditing standards, legal and accounting issues of refinancing business.

　　The CSRC said that the "Answer" was issued to further promote the market-oriented and rule-based reform of securities issuance, enhance the transparency of audit work, guide and standardize the financing behavior of listed companies, facilitate intermediaries to perform their duties, and better play the role of refinancing in supporting the real economy.

　　From the content point of view, there are 30 questions and answers published this time, including horizontal competition, related party transactions, major illegal acts, litigation or arbitration matters, share pledge,

　　Previously, there were rumors in the market that the regulatory authorities planned to substantially relax the refinancing policy, including relaxing the validity period of the CSRC approval from 6 months to 12 months; The size limit of the issued share capital will be raised from 20% of the total share capital before this issuance to 50%. However, these rumors have not been reflected in this Answer.

　　Reporter The Paper sorted out the 10 questions and answers that the market is more concerned about in the Answer as follows.

　　1, how to identify horizontal competition?

　　"Horizontal competition" means that competitors engage in the same or similar business as the issuer’s main business. When verifying and identifying "competition", it should be combined with the historical evolution, assets, personnel, main business and other aspects of the relationship with the issuer, as well as whether the business is substitutive, competitive, whether there is a conflict of interest, etc., to judge whether it constitutes competition for the issuer.

　　We can’t simply say that it doesn’t constitute "horizontal competition" just because the products are sold in different regions and the grades of products are different.

　　In the process of judging that relatives are involved in horizontal competition, the CSRC has drawn up three types of situations divided according to the degree of closeness.

　　If the controlling shareholder or actual controller of the issuer is a natural person, and the enterprise controlled by the immediate family members of both husband and wife (including spouse, parents and children) has a competitive relationship with the issuer, it shall be deemed to constitute horizontal competition. Other close relatives (that is, brothers and sisters, grandparents, grandparents, grandchildren, grandchildren) are recognized as constituting horizontal competition in principle. Other relatives are generally not considered as constituting horizontal competition.

　　2. What are the information disclosure requirements for related party transactions?

　　In the case of public offering of securities, the issuer shall disclose related parties and related relationships in the prospectus, and disclose related transactions in the last three years and the first period according to regular related transactions and occasional related transactions, the impact of related transactions on the company’s main business, and measures to reduce and standardize related transactions.

　　3. If the issuer and its controlling shareholder or actual controller have issued public commitments, what precautions should be taken when applying for refinancing?

　　The issuer and its controlling shareholder or actual controller have failed to fulfill their public commitments to investors in the last 12 months, which constitutes a legal obstacle for the issuer of the main board (small and medium-sized board) to publicly issue shares (convertible bonds) and the issuer to publicly issue preferred shares.

　　Growth enterprise market (gem) is a legal obstacle to the issuance of gem if the issuer fails to fulfill its public commitments to investors in the last 12 months; If it is the controlling shareholder or actual controller of the issuer, it shall not participate in the subscription of securities issued by the listed company.

　　If the matter causes serious damage to the rights and interests of listed companies by controlling shareholders or actual controllers, or seriously damages the legitimate rights and interests of investors, it also constitutes a legal obstacle for the issuer of the main board (small and medium-sized board) to issue shares privately and the issuer to issue preferred shares privately.

　　4. In the process of refinancing, how should information disclosure or verification be carried out on the litigation or arbitration matters of the issuer?

　　Where securities are publicly issued or preferred shares are issued, the issuer shall disclose the litigation or arbitration matters that have a great impact on the production and operation, financial status and future development, including the acceptance and basic facts of the case, the request for litigation or arbitration, the results and implementation of judgments and rulings, and the impact of litigation or arbitration matters on the issuer, such as the impact of the issuer’s loss or unfavorable arbitration on the issuer.

　　It is worth mentioning that even if it is a lawsuit that occurs outside the reporting period, the CSRC also requires brokers to pay attention.

　　It is stipulated in the document that the sponsor institution and the issuer’s lawyer should comprehensively check the relevant situation of litigation or arbitration that occurred during the reporting period or occurred outside the reporting period but still had a great impact on the issuer.

　　5. Does the use of raised funds conform to the national industrial policy, and what precautions do issuers and intermediaries have?

　　On the one hand, in principle, it is not allowed to add excess capacity or invest in restricted or eliminated projects. The identification of industries with excess capacity shall be subject to the regulations of the competent department of the State Council, while the restricted and eliminated industries are stipulated in the Guidance Catalogue for Industrial Structure Adjustment.

　　On the other hand, if foreign investment is involved, it should be noted that overseas investments such as real estate, hotels, cinemas, entertainment and sports clubs, the establishment of equity investment funds or investment platforms without specific industrial projects abroad, the use of backward production equipment that does not meet the technical standards of the investment destination countries, gambling, pornography and other overseas investments are restricted or prohibited.

　　6. How should issuers and intermediaries disclose or verify information about the sources of subscription funds for each subscriber in non-public offering of shares?

　　The CSRC requires that if the board of directors decides to subscribe for the non-public offering of shares, the issuer shall disclose the source of subscription funds for each subscription object, and it is necessary to specify three "yes or no".

　　Namely: Is it self-owned? Is there any external offering, agency holding, structured arrangement or direct or indirect use of the funds of the issuer and its related parties for this subscription? Is there any situation where the issuer and its controlling shareholder or actual controller provide financial assistance, compensation, promised income or other agreement arrangements to the subscription object directly or through its stakeholders?

　　7. If there is a situation that the controlling shareholder and actual controller pledge the issuer’s shares in proportion, how should the issuer and intermediary institutions disclose or verify the information?

　　Where securities are publicly issued, the issuer shall disclose the pledge of the issuer’s shares held by the controlling shareholder or actual controller in the prospectus.

　　If there is a large proportion of pledge, it should be combined with the specific circumstances to disclose whether there is a greater risk of liquidation, whether it may lead to changes in the controlling shareholder and actual controller, and the relevant measures for the controlling shareholder and actual controller to maintain the stability of control rights.

　　If it is true that the control right is difficult to maintain stability, the time limit for possible changes in the control right and possible disposal schemes should be fully disclosed.

　　8. In February 2017, the CSRC issued the Question and Answer on Issuance Supervision — Regulatory Requirements on Guiding and Regulating the Financing Behavior of Listed Companies, it is clear that when a listed company applies for refinancing, except for financial enterprises, in principle, there should be no trading financial assets with large holding amount and long term, financial assets available for sale, loans to others, entrusted financing and other financial investments in the latest period. How to understand this?

　　Firstly, it is clearly defined that financial investment includes but is not limited to: establishing or investing in industrial funds and M&A funds; Borrowing funds; Entrusted loan; Capital contribution or capital increase to the group finance company in excess of the shareholding ratio of the group; Buying financial products with large fluctuations in income and high risks; Non-financial enterprises invest in financial business.

　　The issuer establishes or invests in industrial funds and M&A funds related to its main business for the purpose of strategic integration or acquisition; Entrusted loans for developing main business or expanding customers and channels, as well as investments formed for policy reasons and historical reasons that are difficult to be repaid in the short term, are not financial investments.

　　Secondly, the detailed requirements are clarified. The so-called "large amount" means that the amount of financial investment that the company has held and intends to hold exceeds 30% of the net assets attributable to the parent company in the consolidated statement of the company. "Long term" means that the investment period (or expected investment period) exceeds one year, and it has been accumulated for a long time although it has not exceeded one year.

　　9. What are the specific regulatory requirements for the estimated benefits of fundraising projects?

　　The CSRC said that the disclosure of expected benefits should be based on a reasonable basis.

　　What is a reasonable basis?

　　First of all, listed companies should disclose the assumptions, calculation basis and calculation process of benefit prediction in combination with the contents of feasibility study report, internal decision-making documents or other similar documents.

　　Secondly, if the benefit indicators disclosed by the issuer are internal rate of return or payback period of investment, the calculation process of internal rate of return or payback period of investment and the income data used should be clarified, and the expected impact on the company’s operation after the implementation of the fundraising project should be explained.

　　In addition, listed companies should make a vertical comparison with the operating conditions of existing businesses on the basis of the estimated benefits, so as to explain the rationality of income indicators such as growth rate, gross profit margin and predicted net interest rate, or make a horizontal comparison with the operating conditions of comparable companies in the same industry, so as to explain the rationality of income indicators such as growth rate and gross profit margin. Sponsoring brokers also need to check.

　　10. What is the impact of the issuer’s recent performance decline in the refinancing audit?

　　In the audit, the situation of declining performance should be classified and handled.

　　For the issuance application with profit requirements, if the performance of the latest issue declines, but the relevant profit indicators and profit forecast data still meet the basic issuance conditions, it will be promoted after fulfilling the full information disclosure procedures.

　　For the issuance application with profit requirements, if the recent decline in performance may affect the issuance conditions, the sponsor institution shall carefully express its opinions on whether the issuance conditions are met after the decline in performance.

　　When there is no profit requirement for the issuance application and the business performance drops sharply, it shall be promoted after the listed companies and intermediaries update the declaration documents or submit the post-meeting documents and fulfill the information disclosure procedures.

　　The above-mentioned "sharp decline" means that the company’s net profit has fallen by more than 30% year-on-year, which is higher than the decline ratio of net profit attributable to the parent company before and after deduction in the consolidated statements.

　　The Paper reporter Liu Yuyu

　　The evaluation of scientific and technological talents once again ushered in heavy news! On November 9, the Ministry of Science and Technology, together with the Ministry of Education and other seven departments, jointly held a kick-off meeting for the pilot reform of scientific and technological personnel evaluation, and deployed and promoted the Work Plan on Carrying out the Pilot Reform of Scientific and Technological Personnel Evaluation (hereinafter referred to as the Plan). Focusing on making good use of living talents in national scientific and technological tasks, the Plan focuses on "what to evaluate, who will evaluate, how to evaluate and how to use", breaks through "breaking the four standards" and "setting new standards", ensures deepening reform and policy coordination, and builds an evaluation system of scientific and technological talents oriented to innovative value, ability and contribution according to the types of innovative activities, so as to provide strong talent support for realizing high-level scientific and technological self-reliance and building a world-class scientific and technological power.

　　The "Proposal" is clear, insisting on problem orientation, classified promotion, use of traction and coordinated implementation. "Promote the reform of talent evaluation in major national innovation activities such as major scientific and technological tasks and major innovation base construction, and strive to overcome ‘ Only papers, titles, academic qualifications and awards ’ Tendency. " The relevant person in charge of the Department of Science and Technology Talents and Science Popularization of the Ministry of Science and Technology said that the reform highlights the national goal and mission orientation, and insists on who uses who to evaluate, so as to use the evaluation and evaluation appropriately and use the evaluation results scientifically.

　　The reporter of Science and Technology Daily learned that the two-year pilot reform of evaluation of scientific and technological talents will be carried out in 12 research institutes including Shanghai Institute of Microsystems and Information Technology, Institute of Computing Technology of Chinese Academy of Sciences and China Academy of Water Resources and Hydropower Research, 9 universities including Tsinghua University, Peking University and Zhejiang University, and 6 places including Shanghai and Shandong Province.

　　Facing the difficulty of implementing talent evaluation reform

　　The CPC Central Committee and the State Council attached great importance to the evaluation of scientific and technological talents. In 2018, the Central Office and the State Council issued "Guiding Opinions on Promoting the Reform of Talent Evaluation Mechanism by Classification" and "Opinions on Deepening the Reform of Project Evaluation, Talent Evaluation and Institutional Evaluation", and made systematic arrangements for improving the evaluation standards by classification and promoting the reform of "three evaluations".

　　"All localities and relevant departments have conscientiously implemented the requirements of the central authorities and issued ‘ Break the four virtues ’ And a series of reform measures, the reform of scientific and technological talent evaluation has made positive progress. " However, the person in charge admits that compared with the demands of the majority of scientific researchers and the realization of high-level scientific and technological self-reliance, there are still problems in the implementation of the evaluation reform of scientific and technological talents, and the "sense of acquisition" of scientific and technological talents is not strong.

　　In view of the outstanding problems such as "setting a new standard" after the talent evaluation "breaking the four standards", the innovation of evaluation methods and the inadequate construction of the evaluation system of employers, the "Plan" clarified the road map for the pilot reform of scientific and technological talent evaluation, and systematically deployed it from both the internal and external environment of the unit.

　　Explore new evaluation indicators, methods, cycles and internal systems according to different types of scientific and technological innovation activities and design the system; The external environment mainly deploys tasks from the aspects of promoting the reform linkage of "Three Evaluations" by relevant departments and building a talent evaluation system with industry characteristics. Through internal and external collaborative linkage, it explores the formation of an evaluation system for scientific and technological talents that is conducive to concentrated research.

　　"Through the two-year pilot, we will explore the formation of classified evaluation indicators and evaluation methods for scientific and technological talents of different types of innovative activities, and the evaluation mechanism for the discovery, training, use and encouragement of scientific and technological talents will be more perfect, forming an operational, replicable and scalable experience." The person in charge said.

　　Focus on the classification of national missions and carry out pilot projects

　　It is worth noting that this pilot insists on having both ability and political integrity. On the basis of strengthening the evaluation of scientific spirit and academic ethics of scientific and technological talents, the pilot tasks are deployed according to four types of innovative activities: undertaking major national research tasks, basic research, applied research and technology development, and social welfare research.

　　Specifically, the evaluation of scientific and technological talents who undertake major national research tasks is guided by supporting and serving the country’s major strategic needs, and an evaluation index that reflects the actual contribution and innovation value of supporting national security, breaking through key core technologies and solving major problems in economic and social development is established; The evaluation of basic research talents is guided by academic contribution and innovative value, which breaks the quantitative tendency of "only papers" and explores the low-frequency and long-term assessment mechanism; The evaluation of applied research and technology development talents is guided by technological breakthroughs and industrial contributions, focusing on the evaluation of representative achievements such as technical standards, technical solutions, high-quality patents, industrialization of achievements transformation, and deep integration effects in Industry-University-Research; The evaluation of social welfare research talents focuses on the ability and effect of serving public management, responding to emergencies, safeguarding people’s livelihood and social security, and other common key technology development and services, and no hard economic benefit evaluation index may be established.

　　Moreover, the "Program" also puts forward clear requirements for local governments to carry out comprehensive pilot reform of scientific and technological talent evaluation, highlight the characteristics of regional scientific and technological innovation and talent development, strengthen institutional mechanism reform, policy innovation and resource integration, systematically design local talent evaluation reform, and promote comprehensive reform experiments.

　　"The evaluation reform of scientific and technological talents is a systematic project with high complexity and difficulty, which is related to the vital interests of scientific researchers. The smooth development and effectiveness of the pilot work cannot be separated from the guidance, supervision and service guarantee of relevant departments and localities, and it is also inseparable from the initiative and implementation of the pilot units." The relevant person in charge said.

　　To this end, the "Program" puts forward requirements for relevant departments, pilot places and units respectively. For example, six departments, including the Ministry of Education and the Ministry of Industry and Information Technology, as the competent departments of the pilot units, should improve the industry talent evaluation mechanism and give employers the right to evaluate independently.

　　As the main responsible department, the Ministry of Science and Technology will shoulder the responsibility of organizing and promoting and take the lead in reform, such as breaking the "four talents" in the evaluation of scientific and technological plan projects, performance evaluation of scientific research institutions and selection of scientific and technological talent plans, highlighting innovation value, ability and contribution orientation, and summarizing concise and solidified results in time.

　　(Science and Technology Daily, Beijing, November 9 th)

On September 26, a new listing positioned as "Super City Smart SUV" was launched, and the listing equity price was 216,900 yuan – 279,900 yuan.

The new Wisdom LS6 brings seven king fried configurations, including the Lizard digital chassis, smart four-wheel steering system, ultra-long-range high-precision lidar + NVIDIA Orin X chip, Qualcomm Snapdragon 8295 chip + IMOS future smart cabin, co-pilot 121 ° comfortable zero-gravity seat, smart lighting system and ISC smart lamp system.

The blessing of the Lizard digital chassis is undoubtedly a bright upgrade point for the new Zhiji LS6. With the Lizard digital chassis, the new Zhiji LS6 can bring more flexible, comfortable and safe dynamic performance, and the whole vehicle has a more stable posture in bad road conditions, which is what the official said "drives like a car".

The digital chassis allows the new Smart LS6 to have an active rear wheel steering function, which is unique in new energy vehicles under 300,000 yuan.

The turning radius is 5.09m, which means that an SUV such as the new Zhiji LS6 with a length of nearly 5 meters can achieve a U-turn in two-way four-lane conditions. With the assistance of active rear wheel steering, the new Zhiji LS6 can realize functions such as crab travel mode and in-situ U-turn. In the face of urban road sections with tight parking spaces, these black technologies can solve travel problems very well.

When encountering special vehicle scenarios, such as wading in water, sediment, high-speed emergency avoidance, and ice and snow road conditions, the single-wheel escape, active anti-rollover, and body stability control functions of the Spirit Lizard digital chassis can also come in handy. Taking the wading section as an example, the new Zhiji LS6 will detect the stagnant road in front of the road in rainy night mode in advance, and actively raise the suspension height in advance.

Another major advantage of the new Smart LS6 is the upgraded IMAD 3.0.

This is an end-to-end large-scale model for mass production, and it is a map-free city NOA, which can be used without futures waiting.

In addition, the new Zhiji LS6 also launched "AVP one-click valet parking", which can achieve full coverage of various road conditions including roundabout/U-turn/ETC toll stations, and can be stopped when you have time.

Besides, the Falcon intelligent lighting system is equipped with a 165 ° illumination range, which can support "ghost probe" crossing warning, steering follow-up fill light, intelligent fill light at intersections, parking full scene auxiliary lighting, rainy night mode fill light, etc. At the same time, an external speaker is specially added to play theme music and pedestrian warnings.

The new Smart LS6 is very user-friendly. Upgraded to 8295, and has 24G + 256G memory, while also adding CarLink and HiCar mobile phone connections.

The new Wisdom LS6 is strong in driving control, smart driving technology, as well as leapfrog space size and driving experience. I believe that the new Wisdom LS6, which has been selected for listing in the Equestrian Center, will be in perfect condition.

No matter what kind of social product it is, its ultimate goal is to help users build links. Since the development of social products, the form has matured. Among them, relationship chain, interaction and content are the core elements of social products. This paper analyzes these three key elements, hoping to bring you some inspiration.

After working in an outsourcing company for more than two years, I joined a startup company and started my own exploration in the social field as the head of its overseas social application. In the following time, I will summarize my exploration experience in writing regularly and share it with you.

I’m not very knowledgeable. I hope everyone can learn something from it.

If we want to make a good social product, there is no doubt that the first thing we need to know is: What is social?

According to the definition of Baidu Encyclopedia, socialization (that is, social communication) refers to the social activities in which individuals communicate with each other for material and spiritual exchanges under certain historical conditions.Because the essence of animal society is the sum of all social relations formed on the basis of material production and labor, social communication is the inherent requirement of animal nature to a certain extent.

In the past, people’s social activities included offline salons, blind dates and even chatting among friends, and the Internet brought new social ways, and social products such as WeChat, Soup and soul emerged one after another. People have met their needs for material, information and spiritual communication in various ways.

However, just as a successful person owns a house and a car, we cannot define that success equals a house and a car.Whether it is the exchange of materials or the exchange of information and spirit, it is only the appearance of social interaction to a certain extent. I think the essence of social interaction is linking.. Based on the link, one person, a group of people, established contact with each other, thus having the possibility of exchange.

At the same time,The formation of links is limited and influenced by time and space. Based on different link subjects, media and forms, various types of social products that we are familiar with have emerged.

For example, distinguished by the main body of the link, it links the social application WeChat of acquaintances of relatives and friends, and links the social product soul； of strangers who have no contact with strangers; Differentiated by link media, there are interest-based social applications and LBS social products based on geographical location. In terms of form, there are audio social products Hertz, video social products HOLLA, cat call and so on.

butNo matter what kind of social product it is, its ultimate goal is to help users build links.

Relationship chain is one of the core elements of social products, which refers to the connection between people. The network formed by the combination of multiple relationship chains is what people often call relationship network.What is human nature? Marx concluded that "the essence of human beings is not an abstract thing inherent in a single person, but in reality, it is the sum of all social relations". In our daily life, no one can get rid of "relationships". Relatives, friends, classmates and partners have various relationships, strong and weak.

Different types of social products often have different entry points for the relationship chain.

Cut in with a strong relationshipWechat, which everyone is very familiar with, is a social product based on strong acquaintances, not only WeChat, but also most IM products such as WeChat and QQ. The key to acquaintances’ socialization lies in whether they can successfully transfer the offline relationship chain of users to online, thus making the communication between acquaintances more convenient. Once the relationship chain is successfully migrated online,The strong relationship between acquaintances is itself a very powerful moat for acquaintances’ social products.In my opinion, this is why it is difficult for new acquaintance social products such as Duoshan to shake the dominance of WeChat in the social field of acquaintances.

At present, there are still new social products coming into the market, such as soda and other products that I brushed recently when I brushed Tik Tok. Most of them areCut in from the perspective of weak relationshipSocial networking products for strangers. At present, the more successful social products for strangers in the market include Momo based on LBS, soul with three views matching as the selling point, Hertz with the main voice socialization, Douban with interest dimension, Post Bar and so on.Weak relationship is the starting point of strong relationship. Compared with strong relationship, the establishment cost and migration cost of weak relationship are much lower.This is why it is difficult for a monopoly giant like WeChat to appear in the field of strangers’ social interaction, and why there are always new products coming into the track of strangers’ social interaction.

butDue to the low credibility of weak relationships, most social products of strangers have to improve their credibility through various channels to realize the core value of the products.For example, social products with heavy value such as Momo and exploration will require users to authenticate with real people, while soul, which focuses on soul socialization, provides users with psychological test questions.

The strength of all relationship chains may fluctuate with time. For the same relationship, such as partnership, the feelings of couples who stay together every day may continue to heat up, and couples who have been separated from each other for a long time may become unfamiliar. The fluctuation of relationship strength is inseparable from the interaction between them.

Interaction is also the core element of social products.

Interaction refers to the process of interdependent behavior between individuals, groups and groups in society through language or other means to spread information.It takes two hands to clap, and one person can’t interact.

Users who establish relationships can interact, and the interaction between users in turn affects the stability and strength of the relationship chain. The key is thatInteractive mode, intensity, frequency and value..

Taking the common Internet social products as an example, in most products,Common interactive behaviors include chatting, liking, commenting and forwarding.And different interaction modes correspond to different interaction intensities. For example, the interactive intensity of comments is greater than that of likes. And the same is chat, the interactive intensity of video chat is generally greater than that of text chat.Under normal circumstances, the greater the intensity of interactive behavior, the easier it is to enhance the closeness of the relationship between users.

For the same kind of interaction, the higher the interaction frequency, the closer the general relationship. But this is not absolute, because whether user interaction is effective or not, there is also a very important key point, that is, the value of interaction.

There are a thousand cups of wine for every bosom friend, and more than half a sentence for lovers. In our daily life, we may encounter such a situation. For example, at work, some colleagues have worked with you for a long time, and you are still familiar strangers after work for a long time, while some people have become friends through a few supper after work, even though they have not known each other for a long time.The reason for this difference lies in the difference of interactive value.The communication with old colleagues may stop at work. These exchanges are conducive to the smooth development of work, but they can’t make you know each other better. However, chatting in different places during the string talks makes you have a basic understanding of each other’s hobbies and values, thus becoming friends.

Interaction is the key to the generation and change of the relationship chain between users, but a good interaction can’t happen out of thin air.When posting a comment, there must always be someone to comment on and chat with others. The key is to talk about what won’t lead to embarrassing chat.The key auxiliary information is the content.

Content is auxiliary information to help users interact, which refers to the information that users disclose to others.In the early days of the Internet, limited by the network technology and network speed, the content display among users was mainly in words, resulting in pure text social products such as BBS, blogs and IM tools. With the maturity of the processing technology of pictures and audio and video, various types of content such as pictures, audio and video began to participate in social activities in a richer form.

For any social product, the content supply chain is basically composed of three main links: content production, content distribution and content consumption, and how to optimize the content supply chain is particularly important for all social products.

To guide users to output valuable content, we can refer to the concept of value proposition in economics and encourage users to output content with internal or external value, which can be in the form of spatial dynamics, photo wall and so on.For products with sliding pairs such as tinder or Explore, they encourage users to upload more personal photos and update more real personal information, which belongs to the content produced by users. Of course, how to recommend suitable users to each other is what tinder and explorers need to consider in the content distribution. For products such as Tik Tok, Yikan and Weibo, which focus more on content socialization, besides personal data, they will try their best to let users publish more dynamic content, such as providing them with tools for editing pictures and videos, lowering the threshold for dynamic publishing, and providing material or spiritual incentives for high-quality content, thus encouraging users to produce content. With sufficient content sources, content distribution has become a top priority. For example, Tik Tok is famous in the Internet circle for its extremely powerful content recommendation algorithm.

Of course, we can’t be anticlimactic. On the consumption side of content, how to help users consume content better and encourage users to interact with content producers based on content is the key ending to complete the whole social closed loop.

In subsequent articles, I will further discuss the content supply chain, so I won’t expand it here for the time being.

This is the end of the article, hoping to play a role in attracting jade.

Aaron, WeChat official account: In Aaron’s cabin, everyone is a product manager columnist. Head of social products at sea, an internet observer who is keen on sharing.

This article was originally published in everyone is a product manager. Reprinting is prohibited without permission.

The title map comes from Unsplash and is based on CC0 protocol.

BYD Yuan PLUS is an A-class SUV based on E-platform 3.0, which provides two cruising range options: 430 km and 510 km. It has a power output of 150 kW/310 N m, and the official acceleration of 100 kilometers takes only 7.3 seconds. In addition, the model is also equipped with intelligent configurations such as intelligent navigation system, LAC parallel auxiliary system and AEB automatic emergency braking system.

Metaplus provides two kinetic energy recovery modes, namelyStandard kinetic energy recovery modelAnd a large kinetic energy recovery mode. In the standard kinetic energy recovery mode, the driving experience is almost the same as that of a fuel car, while in the larger kinetic energy recovery mode, although the impact of kinetic energy recovery can be felt, it will not affect the driving experience like sudden braking.

The car has three driving modes, namelyEconomy, Comfort and Sports Mode. When switching between different modes, the change between other modes is not obvious except that the throttle response will be more sensitive in sports mode.

The interior design of Yuan PLUS is also very intimate. For example, the door handle in the car not only has the function of opening and closing the door, but also can control the sound and atmosphere lights. However, to open the door, you need to pull the switch twice to ensure safety. In addition, the sound effect in the car is excellent, and the whole car is equipped with 8 stereos.

In terms of ride comfort, Yuan PLUS performed well. The front seats provide good wrapping, and the rear seats are soft, and even the middle seats are comfortable. In addition, the panoramic skylight and the fully flat rear platform design provide passengers with sufficient head and leg space.

Yuan PLUS also has some detailed designs, such as the PM2.5 air purification system, which will remind passengers by changing the color of the ambient light when the air quality in the car is poor. For example, when the air quality in the car is poor, the ambient light will be displayed in red, and when the air quality is good, the ambient light will turn green.

In addition, Yuan PLUS’s interior design is inspired by sports, and five body colors, surfing blue, skiing white, climbing gray, adventure green and parkour red, are also related to sports. At the same time, it supports fast charging, and it can travel about 100 kilometers in ten minutes.

To sum up, Yuan PLUS is a car worthy of consideration, which combines sports elements, practical space and good comfort. Its starting price of 137,800 yuan is competitive in pure electric SUVs of the same level.

ifeng.com Auto News On September 22, Changan Qiyuan E07 officially started pre-sale. The new car is the world’s first mass-produced variable SUV based on Changan SDA architecture. The new car has variable shape, variable function and variable software. It integrates the functions of coupe, pickup truck and SUV, and one car tops multiple cars. It is a veritable "variable new car". In addition, Qiyuan E07 is also the only mass-produced model in the world equipped with a central ring network architecture, which can be called "China’s version of Cybertruck".

Qiyuan E07 provides both extended range and pure electric power. There are three models on pre-sale this time: the pre-sale price of the extended range Max smart driving version is 249,900 yuan, the pre-sale price of the pure electric Max smart driving version is 269,900 yuan, and the pre-sale price of the pure electric Ultra high-performance version is 319,900 yuan. It is reported that Qiyuan E07 will be put into mass production in October this year and will be officially listed at the end of the year.

With the opening of the new car pre-sale, Changan official also announced the predetermined rights and interests of Qiyuan E07: the first 10,000 subscribers can enjoy six gifts worth 66,000 yuan: including the first owner can enjoy the whole vehicle and three electricity lifetime quality assurance, Changan high-end intelligent driving for life free, 20,000 yuan worth of intelligent magic carpet set (empty hanging + CDC) limited gift, 21-inch wheels worth 20,000 yuan + Michelin tires limited 10,000 yuan purchase, 5,000 yuan worth of technology enjoyment set limited gift, and 2,000 yuan to 5,000 yuan cash purchase model.

The body size of Qiyuan E07 is 5045mm long/1996mm wide/1695mm high, with a wheelbase length of 3120mm. It adopts a 5-seat layout and is positioned as a medium and large SUV for families.

In terms of appearance, the Qiyuan E07 features a unique slippery back shape, with the upper body displaying the dynamic feel of a four-door coupe. After the glass and tailgate glass in the back half of the roof are fully opened, it can be changed from an SUV to a pickup in seconds. The freedom to switch between various body shapes greatly enhances the use of this new car.

Qiyuan E07 pioneered the interstellar opening and closing dome. After the tail sunroof is opened, the upper limit of the height of the load can be greatly increased, and large items such as moving and camping can be done in one car. The rear tailgate is opened by electric flat flip, and the height of the body is adjusted with the air suspension, which is very convenient for handling large and heavy objects.

Between the passenger compartment and the trunk is an intelligent folding partition and a liftable electric partition glass. When the glass is raised, the passenger compartment is completely isolated from the trunk, and noise and odor will not be strung into the passenger compartment. Bringing pets or odorous items can ensure that the occupants in the car still have a comfortable environment.

Lowering the glass and flattening the second row of seats allows for a "queen room" in the car; while the "one-click pickup" function can directly connect the trunk and cabin to the external environment, presenting a completely open pickup carrying space.

The rear cabin of the Qiyuan E07 can bear 300kg and can withstand 2-3 people sitting in the rear cabin. Whether it is parent-child camping or fishing with friends, the changeable space of the Qiyuan E07 can bring users a very practical expansion of the car scene.

All Changan Qiyuan E07 series come standard with front double zero-gravity seats with leg rests. The front and rear seats are equipped with electric adjustment, heating, ventilation and 12-point massage functions, which are comfortably configured to fill up. In addition, the new car is also equipped with 256-color breathing effect ambient lights, 18 theater sound field speakers, perfumer masters, etc.

The new car is also equipped with a five-screen linkage interaction system: the front row has a 28.86-inch HUD head-up display, the "Sunflower" central control screen that can be deflected left and right, and the "Queen’s co-pilot screen" integrated on the co-driver’s visor to achieve navigation and drama tracking without interfering with each other; rear passengers also have 2D/naked eye 3D-Pad dual screens to enjoy audio and video entertainment at any time.

In terms of power, Qiyuan E07 is equipped with an 800V silicon carbide platform as standard, providing both pure electric and range-extending power, and is equipped with Changan’s self-developed "Golden Bell Battery", which has the characteristics of super safety, super long battery life and ultra-fast charging. The comprehensive battery life of CLTC working conditions reaches 651km, and the fast charge can replenish 365km in 15 minutes.

The pure electric version has single-motor two-wheel drive and dual-motor four-wheel drive. Among them, the single-motor two-wheel drive model has two power versions with a maximum power of 165kW and 252kW, and the maximum speed is 201km/h. The four-wheel drive version adopts the front 188kW + rear 252kW dual-motor timely four-wheel drive, and the comprehensive maximum power reaches 440kW, the comprehensive peak torque is 645N · m, and the measured acceleration score of 0-100km/h is 3.96 seconds, and the maximum speed reaches 210km/h.

The extended range version of the model is equipped with the latest generation of extended range platform developed by Changan – Changan Tianyu Smart Range Extension, which for the first time in the world adopts ENC engine active noise reduction technology and multi-damping shock absorption system, so that the extended range engine has less noise and vibration when running, closer to the driving experience of a pure electric car.

The extended range power system of Qiyuan E07 includes a 1.5T range extender with a maximum power of 105kW and a 39.05kWh battery. It also has single motor two-drive and dual motor four-drive options: the extended range single motor two-drive version is equipped with a rear axle motor with a maximum power of 231kW, with a pure electric battery life of 200km; the extended range dual motor four-drive adopts the front 131kW + rear 231kW dual motor, with a pure electric battery life of 185km.

Qiyuan E07 is equipped with air spring + CDC intelligent magic carpet suspension, which supports static self-seeking and dynamic adaptive adjustment. Suspension height and hardness are adjustable, and the body height adjustment range reaches 90mm, the ground clearance is up to 217mm, and the maximum wading depth is 600mm.

In terms of smart driving, Qiyuan E07 is equipped with the leading Changan smart driving system, and the hardware is equipped with a total of 30 smart driving sensors including 2 lidars and the NVIDIA Orin-X smart driving chip with 254Tops of computing power. It adopts three core technologies of "BEV perception", road large model technology and air suspension control system, which can realize L2 + smart driving assistance and provide functions such as high-speed NOA, urban commuting assistance, and remote car moving.

In terms of safety, the Changan Qiyuan E07 adopts a new generation of safety body design, equipped with industry-leading front and rear body integrated die-casting technology, the proportion of high-strength steel and aluminum alloy is more than 90%, and the key parts such as the front cover plate and the car body are made of aluminum alloy, which greatly improves the durability and safety of the vehicle. After the Qiyuan E07 has undergone a 150km/h offset crash test, the door can still be opened normally.

Qiyuan E07 has the control and comfort of a coupe, the large space and passability of an SUV, the loading capacity and scalability of a pickup truck. At the same time, as an SUV model, it is not affected by policies such as 15-year mandatory scrapping and restriction of pickups. Its strong all-scene applicability makes it have unique product value. The forward-looking intelligent technology also makes its future use experience have a very broad imagination space. Compared with the new energy SUV at the same price, the pre-sale price from 249,900 yuan undoubtedly has a very prominent advantage in terms of functional attributes. From the rich power configuration of this car, it is speculated that the official launch of the new car will also bring models with lower price thresholds, which is very worth looking forward to.

　　Xinhua News Agency, Guangzhou, January 17th Topic: Interview Notes: In the special Spring Festival travel rush, peace is the background color of going home.

　　Xinhua News Agency reporter Wu Tao

　　At 5: 36 on the 17th, the passenger train D4545, which is the first Spring Festival travel rush train in Guangdong this year, left Guangzhou Station with more than 1,000 passengers.

　　In 2022, the first train D445 in Spring Festival travel rush, Guangdong Province departed from Guangzhou Railway Station. (Photo courtesy of Guangzhou Railway Station)

　　It is another year in Spring Festival travel rush. Under the requirements of epidemic prevention and control, it is necessary to satisfy the wishes of hundreds of millions of people to go home and ensure the safety of their way home, so that Spring Festival travel rush in 2022 has special significance.

　　Under the epidemic, peace and health are the background of going home. One by one "Spring Festival people" are taking actions to protect the peace of their way home.

　　The car should be safe. Trains that have been running for a day must enter the maintenance yard for maintenance according to regulations. The workload of vehicle maintenance is huge, and every screw should be checked clearly to ensure the good operation of the train. On average, each train needs to detect about 17,000 parts, and it takes about 2.5 hours for four people to work at the same time. During the period of Spring Festival travel rush, Guangzhou EMU will overhaul 108 sets of EMUs every day. Because most trains have to be stopped at night before they are put into storage for maintenance, the train mechanics who can only move at night and become "night owls" guard safety in the dark.

　　The mechanic of Guangzhou EMU is overhauling the EMU. (Photo courtesy of Guangzhou EMU)

　　Stand safely. In order to ensure that passengers have a safe environment in the station, the railway department strengthens the ventilation of the station and carries out disinfection work in the waiting room, toilet and other public places such as waiting seats and ticket vending machines. Guangzhou South Railway Station will disinfect customer service facilities such as elevators every four hours, and fully disinfect the station every night.

　　People should be safe. At Guangzhou South Railway Station, the first high-speed rail hub in South China, which is expected to send more than 15 million passengers this year, 33 infrared thermometers are waiting at the entrance and exit gates to detect the temperature of every passenger entering and leaving the station. Guangzhou Station, which witnessed the history of Spring Festival travel rush, Guangdong Province, is expected to send 2.2 million passengers this year. tianhao, secretary of the General Party Branch of Guangzhou Station Passenger Transport Workshop, said that in order to do a good job in epidemic prevention, the station strictly implements the "three 100%" of entering and leaving the station, that is, 100% temperature detection, 100% health code bright code access and 100% wearing masks.

　　"We do our best to let everyone go home safely." Tianhao said.