In the field of domestic cars, Geely Xingrui is undoubtedly a bright star. Recently, however, some voices have pointed out that Xingrui has ten shortcomings that may make people hesitate to buy. Next, let’s deeply analyze these shortcomings so that you can make a wise decision.

1. Tire noise Although Xingrui has excellent performance in wind noise and engine noise control, tire noise has become an obvious shortcoming when driving at low speed. Sensitive drivers suggest replacing silent tires after purchase to improve driving comfort.　

2. Fuel consumption in high urban areas The powerful 2.0T turbocharged engine of Xingrui leads to high fuel consumption at low speed, which undoubtedly increases the economic pressure, especially in the context of rising oil prices.　

3. Thin body paint Although the paint of domestic cars is generally thin, Xingrui is no exception in this respect. The car paint is fragile, which increases the cost of car maintenance and reminds car owners to be more careful in daily driving.

　4. Low-speed frustration Xingrui’s 7-speed wet dual-clutch gearbox is prone to frustration when shifting gears, especially when the second gear is upgraded to the third gear. Although the ride comfort has improved after high-speed driving, this is a driving experience that needs to be considered when buying a car.　

5. Car system problems The car owners reported that Xingrui’s car system performed well in the initial stage of use, but it was prone to jam and crash in the later stage, reflecting that there is still room for improvement in software optimization.　

6. Abnormal noise in the fuel tank The design of Xingrui’s fuel tank lacks a breakwater, which leads to abnormal noise during driving. Although it does not affect normal use, it has a certain impact on the driving experience.　

7. The cost of car maintenance is high. Xingrui needs to use No.95 gasoline, which increases the cost of car maintenance and reduces the competitiveness for consumers who pay attention to economic benefits.　

8. Small fuel tank volume Although the body size is close to that of a B-class car, the fuel tank volume of Xingrui is insufficient, which may lead to endurance anxiety for car owners who drive long distances.　

9. Limited preferential margin Although the price is relatively close to the people, the preferential margin of Xingrui is relatively conservative, which may not be satisfactory to those consumers who are looking forward to reducing the price of cars.　

10. Brand influence Although Geely has a solid position among its own brands, the problem of brand influence always exists, which may affect consumers’ acceptance of its products.

Despite these shortcomings, the product strength of Geely Xingrui is still worthy of recognition. When choosing, you can weigh the pros and cons according to your personal needs. After all, no car is perfect within a limited budget.

Special feature of 1905 film network If the "motherland" takes time as the sequence, the "hometown" takes space as the axis, and the "fathers" take generations as the chapter, the warm stories of four families are used to connect the struggle chapters of the fathers, and the development of the motherland and the changes of the times are integrated into it.

　

At the same time, it also continued this series of styles with tears in laughter. At present, the box office of the film has broken 1 billion, which is highly recognized by the market.

Insist on proceeding from reality and witness the great era with little people. There are also many vivid archetypes behind Me and My Father. Their stories add a bit of thickness and temperature to the image.

Riding the wind

"Jizhong cavalry regiment"

"Jump on the horse quickly, wave the whip, and with a fighting heart, bravely rush forward, cross the mountains, cross the plains, and catch up with the front line … Brave and invincible, brave and invincible, our iron cavalry! "

　

This is an anti-Japanese war song popular in central Hebei — — "Our Iron Cavalry" describes the brave and heroic soldiers of Jizhong cavalry regiment, and is also the prototype of the unit "Riding the Wind" directed by him.

Jizhong Cavalry Regiment is a typical lancer team, which is good at attacking the invading Japanese army by long-distance attack and circuitous outflanking, and has fought more than 50 times in total.

　

Colonel Ma Renxing, played by Jason Wu, was also a real person. He joined the army at the end of 1924, secretly joined the Communist Party of China (CPC) in October 1938, led an uprising in 1941, and then served as the head of the second cavalry regiment of the Eighth Route Army Jicha Jin Military Region.

　

Ma Renxing is brave and good at fighting, and he has the reputation of "hero of Liaoji" and "hero of Yanzhao". In 1947, he was unfortunately killed by a stray bullet in the battle of Siping. To commemorate him, the Siping Municipal Committee of the Communist Party of China also named the most prosperous Sidao Street "Renxing Street".

The story of the unit "Riding the Wind" took place during the "May Day" counter-campaign in 1942. Originally, the cavalry regiment had successfully jumped out of the encirclement of the enemy, but in order to contain the enemy and rescue the besieged cadres and the masses, after a short respite, it was ordered to return to the hinterland of the base area to persist in the struggle.

　

In more than 60 days, Jizhong Cavalry Corps fought to the death in the "iron wall encirclement" of tens of thousands of enemies, and used traditional cavalry impact tactics to tear a bloody gap in the Japanese blockade, thus completing the task heroically.

However, after this battle, the casualties of the team were also very heavy. Ma Chengfeng, the son of Ma Renxing, the head of the team, and Yang Jingguo, the director of the Political Department, died heroically. Wang Nairong, the political commissar, was seriously injured and shot himself. The cavalry regiment of 1,200 people eventually left less than 400 people.

　

It is a pity that such a heroic team has not yet had a systematic history of war, and can only trace the Ji Guang Pian feather of Jizhong Cavalry Corps from the records of party history, military history and the memoirs of few insiders.

This is also the meaning of Riding the Wind — — Through vivid images, "biography" for the dead heroes.

Today, the People’s Liberation Army has already had an indestructible "iron horse", but the revolutionary heroism of the "fathers" who fought bravely and were not afraid of sacrifice, like the banner held high by Colonel Ma Renxing, stood firm and was passed down from generation to generation.

　

Poetry

"Several generations of astronauts"

At 21: 35 on April 24th, 1970, the satellite Dongfanghong-1 was successfully launched from Jiuquan Satellite Launch Site by the Long March-1 carrier rocket. China broke the technological blockade and monopoly of foreign countries and started a new era in space history.

　

In "Poetry", the first generation of astronauts who developed China’s first artificial satellite were also targeted, and the little-known group of gunpowder sculptors was selected as the entrance.

One of the archetypes of the story — — Xu Liping, a national senior technician and special aerospace technician, is a gunpowder sculptor.He has held his post for more than 30 years, and won many honors such as "Touching China", "Model of the Times" and "The Most Beautiful Struggler" in 2015.

The responsibility of the powder sculptor is "micro-shaping", but the object is not the human body, but the solid fuel of the missile engine.

　

Solid fuel engine is the heart of strategic and tactical missile equipment, and it is also the key component for launching manned spacecraft rockets. Its manufacturing has thousands of processes, and one of the most demanding processes is the micro-shaping of solid fuel for the engine.

The size and accuracy of the burning surface directly determine the flight trajectory and precise range of the missile. A slight deviation will lead to the engine deviating from the track or even exploding.

　

At present, in this field, no matter how sophisticated the machine is, it can’t completely replace the manual work. It is this arduous and dangerous work that Li Xu Equal Powder Carver is responsible for.

As shown in the movie, because the fuel used in the space solid rocket engine contains more and more energy, the operator is like lying on the explosive bag when shaping the powder. Once the cutter accidentally touches the metal shell or the friction is too large, it will cause combustion or even explosion in an instant.

　

Therefore, people often use "interacting with danger and keeping company with death" to describe this special occupation.

What’s more worth mentioning is that Xu Liping’s mother is also a powder sculptor, and she is one of the earliest employees in the plastic workshop of China Aerospace Solid Rocket Engine Production Base.

It was under her influence that Xu Liping took up the post of gunpowder sculptor.

Xu Liping’s wife is also an "aerospace second generation". There are eleven people in the family, except for three children who are going to school, eight of them are astronauts.

The youngest daughter in the movie finally became an astronaut. In the history of China, there were two female astronauts. In 2012, Liu Yang took the Shenzhou-9 spacecraft into Tiangong-1 to carry out China’s first manned rendezvous and docking mission; In 2013, Wang Yaping went into space by Shenzhou 10, becoming the first female astronaut born in 1980s in China.

In 2015, Xu Liping was awarded the "Touching China" Person of the Year, and the awarding words read: "Every time I fall, I can hear my heartbeat. You can’t have a slight carving on gunpowder, and every weapon of a great country can’t be separated from you. You are a craftsman and you are a great craftsman. "

　

This "artisan spirit" is endowed with poetic connotation in the film. "I am a poet, and my job is to write poems in the sky every day." This simple line is full of the unique romantic feelings of aviation people, and it also supports several generations of astronauts to have fun in the desert of Huangsha.

"Ordinary smallness is the beginning of greatness." This is a "poem" written by filmmakers to astronauts, and it is also a poem written by astronauts to the stars and the sea.

Duck prophet

"The first TV advertisement in China"

"Shanghai TV Station will accept advertising business from now on"

　

On January 28th, 1979, on the first day of the first lunar month, at 17: 05 in the evening, it was an "inter-epoch" moment: Shanghai TV station broadcasted China’s first TV advertisement — — "Shengui Yangrong Liquor" advertisement.

The advertisement lasted for 1 minute and 30 seconds, and the content was very simple. The son and daughter-in-law took their granddaughter to the store to buy Shengui Yangrong wine to honor their old father, and his father smiled after receiving the wine.

　

Now, the image data of this advertisement has been lost, and only four "split-mirror pictures" drawn from memory are based on which the story of the unit "Duck Prophet" is adapted.

　

"Shengui Yangrong Wine" was a tonic wine produced by Shanghai No.2 Factory of Traditional Chinese Medicine, which was distributed by Shanghai Chinese Medicine Company. The price of a single bottle was about 15 or 16 yuan, which was expensive, but most families with televisions at that time were well-off and coincided with the Spring Festival. This advertisement can be described as "just after one’s heart".

　

Although the advertisement was broadcast only five or six times in Shanghai TV station, the response was excellent. Shengui Yangrong wine sold out quickly in major stores, showing the powerful effect of the advertisement.

At that time, the editor-in-chief of Liberation Daily commented that a gold medal should be awarded to Shanghai TV Station today, because it broke the unwritten ban that TV stations in our country never broadcast advertisements.

　

On March 12, People’s Daily also published the article "Shanghai resumes commodity advertising business", which affirmed the practice of Shanghai TV station to broadcast advertisements.

In the early days of reform and opening-up, many industries were waiting for prosperity, many ideological imprisonments needed to be broken, and advertising was once resisted because it was regarded as the product of capitalism.

　

In such an environment, shooting and broadcasting the first TV advertisement undoubtedly requires considerable courage, which can also be said to be the "duck prophet" spirit of "daring to be the first in the water" frequently mentioned in the film.

Compared with the first two units, Zhao Pingyang, played by Xú Zhēng, has no aura of a hero, but is just an ordinary Shanghainese citizen, but also the epitome of ordinary people who dare to be the first and innovate in the wave of reform and opening up in Qian Qian.

　

At the end of this unit, classic advertisements such as Yanwu tape recorder, Kodak film, Jianlibao and southern black sesame paste appeared in turn, which together merged into the prosperity of Shanghai, an international metropolis.From the first advertisement to the scale of China’s advertising market approaching one trillion yuan, the development of advertising industry has also witnessed the social, economic and cultural progress in China.

　

If we say that the first three units are all looking back at history, the "Youth Travel" directed is based on the present and looking forward to the future.

　

"Youth is strong, country is strong" and "science and technology are prosperous, nation is prosperous". Although there are no specific figures and event prototypes in this unit, it is closely linked to the strategy of strengthening the country through science and technology and talents in the new era, and the spirit of scientific and technological innovation is passed down between "father and son" through humorous ways.

　

From "Motherland" to "Hometown" and then to "Father", it has always been the starting point of this series of creations to arouse the resonance of the whole people with images and write the great era with little people. It is also one vivid prototype figure after another that makes us more shocked, memorable and moved in addition to laughter and tears.

Fu wa, the five heads of "Fantastic Heroes"


Eight bitches gossip together

Louis Koo was surprised by Brother Duck Egg.

Gu Dezhao and Second-hand Rose

Magic "grandma"

Wu Junru leads a heavy geek.

Five leading men

　　　Produced by Chen Kexin, directed by Gu Dezhao, and co-starring Louis Koo and Wu Junru, the "Chao" comedy film has been released in major cinemas all over the country since February 3rd. Among them, the second-hand rose, Wu Junru’s intimate I-cup girl, and Louis Koo’s chess friend, Brother Duck Egg, and other top-notch "geeks" all stole the show and became the highlights in the film.

Second-hand rose lead singer becomes the best "grandma"

　　Gu Dezhao, who came to the mainland to shoot "Fantastic Heroes" this time, repeatedly stressed in an interview that his greatest achievement was the discovery of the second-hand rose band and successfully persuaded them to play the five leading men in the film. In the movie, the five leaders are dressed in red, green, blue, black, yellow and other five-ring battle shirts, and speak dialects in Northeast China, Shandong and Sichuan, just like the five Fuwa in the Olympic Games are full of sparkle, while the strong ones have their own strong hands. Among them, the leader of Taishan School, played by Liang Long, the lead singer of the second-hand rose, is the most bizarre and vivid. And because of albert nobbs’s smoky clothes, he was nicknamed by netizens as a grandmother in a movie, thus winning the nickname of the best "grandmother".

Eat melon seeds into "I cup"

　　In the movie "Fantastic Heroes", Xiang Xia, played by Wu Junru, is surrounded by three huge girlfriends. The daily work, besides eating, is to spread gossip out of thin air everywhere. It is precisely because of these three "eight bitches" that Xiang Xia, a hero, is in a "marriage emergency". Surprisingly, the three "Eight Bitches" in this movie are not only huge in size, but also amazing in cup size. The most "chicken thief" in the movie, the "orange little sister", surpassed the "bullet girl" in an all-round way by virtue of the "I cup" figure. It is reported that the actor of this role is Huang Xiaolan, who was praised by Ning Hao for playing a waiter who ate melon seeds in a hotel. This time, he starred in "Fantastic Heroes" and once again succeeded in stealing the camera.

The best "duck egg" picked up on the street

　　At the entrance of Rainbow Village, there is often a man whose head looks like an egg wandering around. Although his name is unknown, "Brother Duck Egg" is admired by women because of his special head shape and the unique aesthetics of women in Rainbow Village. According to Gu Dezhao, this actor is a treasure that the deputy director "picked up" from the street during dinner. When he first arrived at the crew, everyone thought he was doing stunt makeup, but in fact, the head shape of "Brother Duck Egg" was absolutely natural.
　
Next page: More wonderful stills.

　　[Guo Weimin, special correspondent of Global Times in Japan, Sun Xiuping] Exports to China have decreased, and the United States has asked Japan to pay for it? Japan’s Kyodo News reported on the 14th that US President Trump asked Japan to buy "a huge amount" of American agricultural products, which aroused the vigilance of the Japanese government and the dissatisfaction of the agricultural sector.

　　Kyodo News quoted Japanese and American government sources as saying that Trump had directly asked Japanese Prime Minister Shinzo Abe to buy American agricultural products, and also specifically pointed out the varieties that Japan needed to buy, including soybeans and wheat. The report emphasizes that this is an additional purchase requirement, which is different from the Japan-US trade negotiation framework being promoted by the US government with the goal of reducing the trade deficit with Japan.

　　Japan’s Tokyo TV reported on the 14th that Japan-US trade consultations were held in Washington on Tuesday and Wednesday, mainly focusing on agricultural products and automobile tariffs of the two countries. When Trump met with Abe in the first half of this year, he asked the Japanese government to cut taxes on American agricultural products. According to data released by Japan’s Ministry of Agriculture, Forestry and Fisheries, from January to June this year, Japan’s agricultural exports decreased significantly compared with last year. In this context, the Japanese government must vigorously promote the export of agricultural products, so it is necessary to avoid making too many concessions to the United States in Japan-US trade negotiations in any case.

　　Kyodo News said that the Japanese government is wary of the negative impact of this incident on trade negotiations and is fully discussing countermeasures. One of the measures may include buying American agricultural products under the framework of food aid to Africa. Kyodo News issued a document on the morning of the 14th, saying that the Japanese agricultural sector was puzzled and wary of the request of the US government. "This is an excessive demand when Japan-US trade negotiations are being promoted." An agricultural related person expressed indignation. The article said that if Abe’s government does not refuse the request of the United States, it may lead to a further strong rebound in the agricultural sector. However, Kyodo News deleted relevant articles in the afternoon.

　　"Trump received an unusually high-standard reception when he visited Japan last time, in exchange for buying huge amounts of American agricultural products?" Japan’s "litera" news network commented that Abe’s government is "careful" to Trump, but for Trump, Abe is just a "servant" who listens to everything. Trump also imitated Abe’s accent a few days ago, recalling some of their past conversations on trade tariffs, and even ridiculed Abe’s father for being a death squad pilot. The article said that in order to force Japan to make concessions on issues including lowering tariffs, Trump would not hesitate to shake the foundation of the Japan-US alliance and put pressure on Tokyo. Munei Dengying, an economist at Nomura Research Institute, believes that the United States may require Japan to reduce tariffs and expand imports. The Japan-US trade agreement, which was supposed to be basically agreed at the end of September, suddenly became more unpredictable.

Ghost in the shell.　

"You and I are like looking at things through a mirror, and what we see is nothing but illusory" — —Mamoru Oshii quoted ghost in the shell in 1995 from Schopenhauer.

Please allow Xiao Dianjun to set an example before talking about this movie to pay tribute to the classics.

As a recognized "masterpiece", ghost in the shell, a series of works of the same name adapted from Masamune Shirow cartoons directed by Mamoru Oshii, has carried too much admiration and praise since it came out. However, the live-action version of the work of the same name that has just been released in China can be said to be aloof because it stands on the shoulders of giants for secondary creation: from film preparation, shooting to publicity, there has been a trend of mixed opinions and polarization.

Xiao Dianjun also went to watch this new work early. However, after watching the movie, there were some surprises and many disappointments.

The background and characters of the film still follow the classic settings of the 95th edition of Attack on the Shell. Although compared with the original version, Bart’s hairstyle is a little explosive, the wild-rolled colonel has some facial paralysis, and the "widowed sister" version of Shaozuo is not as slender and slender as the original version. But unless you are a fanatical classic, these details are not fatal to Xiao Dianjun.

After all, many clips in the film almost completely restore the classic version of the plot, which we will mention later.

To say that the most embarrassing thing about this adaptation is that the producers and screenwriters level forcibly lowered the connotation of the new version of the story, and the story is anticlimactic, with a huge opening momentum but a chicken soup ending. After watching the movie, you will find it hard to imagine that it was adapted from a film called "masterpiece".

Xiao Dianjun doesn’t want to be too mean to this work. Objectively speaking, the live-action version of Attack on the Shell is not a bad film, but it’s a pity that Mamoru Oshii’s version of Zhuyu is in the front, and it will only hurt if it is compared.

Mamoru Oshii’s ghost in the shell.

To talk about the gap between the live-action version and the original version, we must first talk about how "god" the original version is.

Cyberpunk: A Science Fiction City with Multi-cultural Integration

For this masterpiece, the first evaluation given by Xiao Dianjun is: ahead of time.

It is widely regarded as one of Cyberpunk’s classic works. At that time, the release of this film also caused a worldwide wave of Cyberpunk.

Man-machine information transmission of Cyberpunk wind in movies

The word Cyberpunk may be a little strange to many people, so far it has no strict definition. Enthusiasts who usually like this cultural genre are determined by the characteristics summarized from the previous works of this type: Cyberpunk’s works usually set the story in the future with highly developed information technology, and the advanced scientific and technological development and the contradiction between people and society are the classic themes of this type.

Blade runner is regarded as a typical work of Cyberpunk.

In visual style, Cyberpunk in Xiao Dianjun’s eyes is blending. The disorderly cultural mixture makes the old and new cultures appear in the future high-tech city.

The slums hidden behind the high-tech cities in ghost in the shell

From this perspective, ghost in the shell in 1995 is undoubtedly ahead of the times. Mamoru Oshii and screenwriter Itou Kazunori have exerted extraordinary imagination in their works. At that time, even the internet was not popular, and the fantasy scene of the future world was shown to countless audiences. Today’s scientific and technological development also proves that this prophetic work is extremely forward-looking.

Mechanical agent connected to network

Compared with Masamune Shirow’s painting style with outstanding sense of science and technology, Mamoru Oshii has added more Japanese retro cultural symbols on the basis of cyber, which is more prominent in Attack on the Shell 2: Innocence.

Sacrificial wind makes people fall into dreamland.

In the live-action movie just released, the production team tried their best to restore the Mamoru Oshii version of the future city, but the diversified cultural symbols were weak. Moreover, due to the change of the plot, the common pessimism in Cyberpunk is also greatly reduced in the new work.

Next page:The tribute stalk in the kernel and real-life version of Attack on the Shell

Cctv newsAccording to "China Railway" in WeChat official account, on October 2nd, the national railways sent 16.47 million passengers, and the transportation was safe, stable and orderly. On October 3rd, the railway passenger flow continued to maintain a high level. The national railways are expected to send 16.35 million passengers, and 11,190 passenger trains are planned, including 889 additional trains.

The newly opened Guangzhou-Shantou high-speed railway, Shanghai-Nanjing high-speed railway along the Yangtze River and Fuxia high-speed railway ushered in the "first show" of holiday transportation, which was favored by people along the route and became the first choice for travel, and the passenger flow continued to rise. The Guangzhou-Shantou high-speed railway, which opened on September 26th, runs 59 EMU trains every day, sending a total of 238,000 passengers. The Shanghai-Nanjing high-speed railway along the Yangtze River, which opened on September 28, runs 24 EMU trains every day, sending more than 160,000 passengers. The Fuzhou-Xiamen high-speed railway, which opened on September 28th, runs 23 EMU trains every day, and 28 EMU trains on the peak day, sending a total of 108,000 passengers.

Railway departments around the country pay close attention to the operation of holiday passenger flow, increase capacity in hot directions and intervals in a timely manner, implement measures to facilitate the people and benefit the people, and ensure passengers to travel safely, orderly and warmly. Shenyang Bureau Group Corporation added 82 passenger trains and set up a mobile library at Shenyang Station to meet the reading needs of passengers of different ages. Taiyuan Bureau Group Corporation added 19 EMU trains and 23 ordinary speed trains, and reconnected some EMU trains from Taiyuan to Beijing, Shenyang, Chengdu and Hangzhou. Zhengzhou Bureau Group Corporation added 35 passenger trains to Luoyang, Dengzhou, Anyang and Xuchang. Xi ‘an Bureau Group Corporation added 59 EMU trains and 21 ordinary-speed trains, and reconnected 19 EMU trains of Xicheng High-speed Railway. Jinan Bureau Group Corporation added 72 passenger trains to Qingdao, Yantai and Tai ‘an, and reconnected 18 EMU trains. Chengdu Bureau Group Corporation has added 46 EMU trains on popular lines such as Chengdu-Chongqing high-speed railway and Chengdu-Guiyang high-speed railway. Kunming Bureau Group Company makes good use of China-Laos Railway and runs 60 EMU trains every day to facilitate passengers to travel to Pu ‘er and Xishuangbanna. Lanzhou Bureau Group Corporation reconnected 22 EMU trains to Beijing, Shanghai and Guangzhou; Qinghai-Tibet Group Corporation has opened 24 temporary passenger trains in popular areas such as Xining to Chengdu and Lhasa to Linzhi. Harbin Bureau, Beijing Bureau, Hohhot Bureau, Wuhan Bureau, Nanning Bureau and Urumqi Bureau Group Company have launched their own travel services, caring for the elderly, children and other key passengers.Strengthen the guidance of key stations and buses, keep public areas clean and tidy, and connect with municipal transportation such as subway and bus in an orderly manner, thus improving the travel experience of passengers.

The railway department reminds that the railway 12306 website (including mobile phone client) is the only official online ticketing channel for train tickets for passengers who purchase tickets through the Internet or mobile phone client, and no additional fees are charged. Please purchase tickets through official channels to protect their legitimate rights and interests and personal information security. During the National Day Golden Week, there is a large passenger flow on the railway. Passengers and friends are requested to arrange their trips reasonably, carry their belongings as required, reserve enough time for entering the station, strengthen their own health protection during the journey, make civilized travel and jointly maintain a good travel environment.

　　BEIJING, July 31 ST (Zhongxin Finance Zuo Yuqing) Recently, the National Development and Reform Commission’s "Measures on Restoring and Expanding Consumption" (hereinafter referred to as "Measures") was announced. The 20 measures of "expanding consumption" involve automobiles, housing, catering, tourism and other fields. See which ones are closely related to you?

　　live

　　— — Megacities actively and steadily promote the transformation of villages in cities.

　　In terms of housing, the Measures continue to support rigid and improved housing demand. The "Measures" clarify that we should do a good job in ensuring the delivery of buildings, people’s livelihood and stability, improve the basic system and support policies for housing security, expand the supply of affordable rental housing, and focus on solving the housing problems of new citizens, young people and other groups with housing difficulties.

　　In the renovation of old residential areas, we will further give play to the role of special residential maintenance funds in the renovation of old residential areas and the renovation of old residential elevators, and continue to support residents in old urban residential areas to withdraw housing provident fund for the renovation of self-occupied housing such as installing elevators. Actively and steadily promote the transformation of villages in cities.

　　line

　　— — Promoting automobile renewal consumption and promoting the sharing and utilization of parking space resources

　　The "Measures" require optimizing the management of automobile purchase and use. No new automobile purchase restriction measures shall be added in all regions, and the automobile purchase restriction measures shall be optimized according to local conditions in areas where purchase restriction has been implemented. Promote the renewal of automobile consumption, encourage the trade-in of old cars, and do not implement discriminatory policies against cars that are not locally produced. Increase the supply of urban parking spaces, improve parking conditions in crowded places and scenic spots, and promote the sharing and utilization of parking space resources.

　　In terms of expanding the consumption of new energy vehicles, the Measures emphasize the implementation of policies such as building a high-quality charging infrastructure system, supporting new energy vehicles to go to the countryside, and continuing and optimizing the vehicle purchase tax reduction and exemption for new energy vehicles. Scientific layout, moderately advance the construction of charging infrastructure system, accelerate the popularization and application of power exchange mode, and effectively meet the needs of residents for charging and replacing electricity. Promote the optimal layout of public charging infrastructure in residential areas and implement the residential electricity price, study the implementation of the peak-valley time-of-use electricity price policy for charging infrastructure, and promote the reduction of the electricity cost of new energy vehicles.

　　use

　　— —Improve the consumption of home improvement, home furnishing and electronic products.

　　In terms of improving the consumption of home decoration, the "Measures" propose to promote the consumption of home decoration and encourage the integration of indoor intelligent assembly. Promote smart home appliances, integrated home appliances, functional furniture and other products to improve the level of intelligent green home. Accelerate the implementation of home appliance after-sales service promotion action. Carry out in-depth trade-in of household appliances and strengthen the recycling of used household appliances.

　　In terms of electronic product consumption, we should use new technologies such as ultra-high-definition video, virtual reality and flexible display to promote technological innovation on the supply side and upgrade electronic products. Support the consumption of wearable devices and smart products, and create new scenarios for electronic product consumption applications.

　　eat

　　— —Support local food festivals and tap the potential of prefabricated vegetable markets.

　　In order to expand the consumption of catering services, the Measures advocate healthy catering consumption, oppose catering waste, support local food festivals, create characteristic food blocks, and carry out catering activities to promote consumption. Relevant regulations on optimizing catering establishments and extending business hours according to local conditions.

　　Cultivate the mode of "breeding base+central kitchen+cold chain logistics+catering stores", tap the potential of prefabricated vegetable market, accelerate the construction of prefabricated vegetable base, fully embody the principles of safety, nutrition and health, and improve the quality of catering and the standardization level of distribution. Promote transparent kitchens so that consumers can eat with confidence.

　　play

　　— —Encourage flexible work and rest during off-peak vacations and encourage the implementation of scenic spot ticket reduction and exemption.

　　In terms of cultural tourism consumption, the "Measures" propose to fully implement the paid vacation system, encourage off-peak vacations, flexible work and rest, and promote holiday consumption. Encourage all localities to formulate and implement policies such as ticket reduction and exemption in scenic spots and free opening in off-season. On the basis of ensuring tourists’ right to choose independently, we will support different regional scenic spots to cooperate in implementing the joint ticket mode, and encourage scenic spots to implement the one-ticket, multiple-time and multi-day use system in combination with the actual situation to better meet the diversified needs of tourists.

　　In terms of enriching "nightlife", the "Measures" propose to promote the innovative development of night travel consumption norms, guide museums, cultural centers, amusement parks, etc. to extend their opening hours, and support qualified areas to build a "24-hour living circle". Create a new space for immersive performing arts and build a new gathering area for cultural tourism consumption.

　　In terms of cultural and sports exhibitions, the "Measures" require speeding up the work progress such as examination and approval, and continuously putting in excellent film works and cultural performances. Optimize the approval process, strengthen safety supervision and service guarantee, and increase the supply of large-scale activities such as drama festivals, music festivals, art festivals, animation festivals and concerts. Encourage the holding of various sports events and increase the number of offline and offline sports events with a wide audience.

　　loan

　　— — Rationally optimize micro-consumer credit and credit card interest rates, etc.

　　The "Measures" pointed out that financial support for the consumer sector should be strengthened. Guide financial institutions to increase comprehensive financial support for accommodation, catering, cultural tourism, sports health, old-age care and home economics services in a market-oriented manner. Pay more attention to the real consumption behavior, strengthen the supervision of the use and flow of consumer credit, and promote the reasonable increase of consumer credit. On the basis of strengthening the construction of credit information system, we will rationally optimize the interest rates, repayment periods and credit lines of micro-consumer credit and credit cards.

　　In addition, the document proposes to continuously improve the quality of consumer services. We will comprehensively carry out the safe consumption action and improve the service standards in key service consumption areas. We will crack down on counterfeit and shoddy behaviors in accordance with the law, continue to promote the creation of assured markets, assured shops, assured online stores, assured restaurants, assured scenic spots and assured factories, accelerate the formation of a closed-loop assured consumption system with return, quality traceability, clear price tag, supervision and evaluation, and create an assured consumption environment. (End)

　　CCTV News:Recently, the General Office of the Ministry of Human Resources and Social Security issued the Notice on the 2018 Professional and Technical Personnel Qualification Examination Plan and Related Issues, announced the 2018 professional and technical personnel qualification examination work plan, and made arrangements for relevant issues.

　　The economic professional and technical qualification examination is fully implemented by computer examination.

　　In 2018, the economic professional and technical qualification examination (primary and intermediate) will be fully implemented by computer, so please prepare for the corresponding examination.

　　The tenderer will conduct a one-time final exam.

　　The State Council has cancelled the professional qualification of the bid inviter, and the 2018 bid inviter exam is a one-time final exam. Candidates whose qualified subjects are still valid as of 2017 can sign up for the exam. After the end of this examination, those who have passed all the examination subjects will be awarded the professional qualification certificates of the original tenderers in accordance with the Interim Provisions on the Professional Qualification System for Tenderers (No.19 [2013] of the Ministry of Human Resources and Social Security).

　　The certificate can be used as a certificate with corresponding professional and technical ability and level.

　　Reminder:

　　The national vocational qualification examination has a unified outline, unified proposition and unified organization, and qualified professional and technical personnel should obtain corresponding vocational qualification certificates through the examination. The majority of candidates should register and take exams through formal channels according to regulations, and do not believe in false propaganda.

　　At the same time, the state has not designated any training institutions to carry out vocational qualification examination training, and those who cheat or organize cheating on illegal training institutions under the guise of "guaranteeing" will be seriously investigated for their legal responsibilities according to law.

　　These 10 certificates are very valuable ↓

　　1. Certificate of Certified Public Accountant

　　CPA(Certified PublicAccountant) is the abbreviation of certified public accountant. In large and medium-sized enterprises, most of them need to hold a certified public accountant certificate to recruit positions such as chief accountant, financial manager, chief financial officer and chief accountant.

　　CPA is the highest-level certificate in the accounting field in China, and it is also the only official certificate with "signature right". Therefore, if you want to be a certified public accountant, you must first get the CPA. According to the latest data of AICPA, there are 235,398 registered accountants in China, including 104,913 practicing accountants and 130,485 non-practicing accountants, but they still cannot meet the social demand for senior accountants.

　　Registration conditions:Have graduated from a junior college or above, or have intermediate or above technical titles in accounting or related majors.

　　2. Legal professional qualification certificate

　　According to the provisions of the Judges Law, the Prosecutors Law, the Lawyers Law and the Notarization Law, newly appointed judges, newly appointed prosecutors, applicants for lawyer practice and notaries must pass the national judicial examination and obtain legal professional qualification certificates.

　　The national judicial examination can be regarded as the entry threshold for practitioners in the judicial industry in China. It is extremely difficult and the annual pass rate is about 10%.

　　2017 is the last year of the national judicial examination. After that, the judicial examination system will be adjusted to the national unified legal professional qualification examination system.

　　Application conditions:Bachelor’s degree in law in colleges and universities, or bachelor’s degree in non-law in colleges and universities, and have legal professional knowledge.

　　3. International Certified Public Accountant Certificate (ACCA)

　　ACCA, a chartered certified accountants, is also commonly known as the International Certified Public Accountant in China, and its popularity is second only to CPA. With the characteristics of all-English exams, many subjects, great difficulty and high gold content, its position in the accounting field is unshakable. At present, it has more than 20,000 members and more than 40,000 students in China, especially favored by the College Students’ Textual Research Party.

　　ACCA applies international accounting standards. With the accelerated development of economic globalization, many foreign companies in China and state-owned enterprises going abroad need ACCA holders. Accounting firms also need ACCA holders who are familiar with international accounting standards when auditing listed companies such as US stocks.

　　Registration conditions：You can register at least 16 years old. ACCA is a certificate that only a few freshmen can apply for and finish their studies before graduation.

　　4. Chartered Financial Analyst Certificate

　　CharteredFinancialAnalyst (CFA), also known as "Chartered Financial Analyst", has always been regarded as an MBA in the financial investment field. CFA qualification certificates are awarded to a wide range of professionals in various investment fields, including fund managers, securities analysts, chief financial officers, investment consultants and so on.

　　The examination content is divided into three different levels, namely LEVEL Ⅰ, LEVEL Ⅱ and LEVEL Ⅲ. Examinations are held in all parts of the world, and each candidate must complete three different levels of examinations in turn. CFA qualification examination is conducted in English.

　　Qualification certification:Candidates are required to have a comprehensive and profound grasp of financial knowledge and have four years of relevant work experience.

　　5. Chinese actuary certificate

　　The actuary is a profession with an annual salary of over one million abroad and a monthly salary of 10,000 yuan at home, which is called "the golden collar among the golden collars". In China, it is said that there are only more than 400 actuaries at present, but there are less than 50 actuaries recognized by the world insurance industry. The market demand for actuaries will reach 5,000 in the future, and the number of people applying for actuarial examinations will also increase year by year.

　　Application conditions:The test is divided into two levels: quasi-actuary and actuary. Applicants for quasi-actuaries need to have a bachelor’s degree or above, and applicants for actuaries need to have the qualification of quasi-actuaries in China.

　　6, practicing doctor certificate

　　The qualification certificate of medical practitioner is the most important criterion to judge whether a doctor has the qualification to practice medicine. The so-called "doctor" who has not obtained the qualification certificate of medical practitioner belongs to "illegal medical practice". The country’s requirements for practicing qualifications are more and more strict, and legal practice, the sooner the qualification certificate of practicing doctors is obtained, the better.

　　Application conditions (meet one of the following conditions):

　　Having a bachelor’s degree or above in medical major in an institution of higher learning, and having completed a probation period of one year in a medical, preventive and health care institution under the guidance of a medical practitioner;

　　Having obtained the practicing certificate of practicing assistant physician, having a medical college degree in an institution of higher learning and having worked in a medical, preventive and health care institution for two years;

　　Having a medical degree in a secondary specialized school and having worked in a medical, preventive and health care institution for five years.

　　In addition, those who have a medical college degree in a higher school or a medical college degree in a secondary specialized school, have completed a one-year probationary period in a medical, preventive or health care institution under the guidance of a medical practitioner, or have studied traditional medicine for three years or have expertise in medical skills for many years can also take the qualification examination for medical practitioners.

　　7. Teacher qualification certificate

　　Teacher’s qualification certificate is an essential certificate for teachers in the education industry. As a statutory certificate with nationally recognized teacher qualifications, it is uniformly printed by the education administrative department of the State Council. Since 2015, the teacher qualification certificate has taken the form of a unified national examination.

　　8. Certificate of Human Resource Manager

　　The human resources department, the finance department and the marketing department are also called the "troika" that drives enterprises, and human resources management is one of the few occupations that continue to be bullish.

　　There are four levels of human resource managers, namely: level 4 enterprise human resource managers (national vocational qualification level 4), level 3 enterprise human resource managers (national vocational qualification level 3), level 2 enterprise human resource managers (national vocational qualification level 2) and level 1 enterprise human resource managers (national vocational qualification level 1).

　　9, psychological counselor certificate

　　With the increasing attention to mental health in China, the psychological counseling industry will be paid more and more attention. People who have been or are going to be engaged in the profession of psychological counselors should receive special vocational training and obtain the "People’s Republic of China (PRC) Professional Qualification Certificate" issued by psychological counselors nationwide before engaging in corresponding psychological counseling activities.

　　Application conditions:Psychological counselors are divided into one or two grades, and the standard conditions for entering the exam are different. Educational background in psychology, pedagogy and medicine is generally required.

　　10, the national translation professional qualification certificate (level)

　　As a national evaluation system for translation talents, the Translation Qualification Examination has been praised by the Ministry of Human Resources and Social Security and senior experts in the industry for many times. The leader of the Technical Department of the Ministry of Human Resources and Social Security has said many times: "We chose the Foreign Languages Bureau to organize the examination correctly … … The examination has had a good influence at home and abroad, and it is one of the most successful projects in the national vocational qualification examination at present. "

　　 Application conditions:Anyone who has a certain level of foreign language, regardless of age, education, qualifications and identity, can sign up for the corresponding language level 2 and 3 exams.

　　Are you going to do textual research in 2018?

Did you watch the Xiaomi new product launch tonight? I don’t know if this conference is important in everyone’s mind, but it seems to be quite heavy in Xiaomi.

　

The night before the press conference, Xiaomi CEO Lei Jun issued a document saying that the rehearsal was smooth, "but it still took more than three hours, and the content will continue to be streamlined"; Xu Fei, CMO of Xiaomi, said in Weibo that there were too many contents to be released. In order to streamline the contents, "PPT was deleted all day yesterday".

　

So, what did this press conference, which made Xiaomi’s top management feel burdened, release? Let’s simply say that the understanding angle is very subjective.If you want to add or refute, please feel free to leave a message and focus on a chat..

　

Xiaomi 澎湃 OS 2.0 operating system

　

Heart-warming reason: super little love.

　

Based on 澎湃 OS 2.0 technology, an upgraded version of "Little Love Classmate"-Super Little Love was born. Although the "smart phone" should be called "stupid phone" in terms of experience, a smart phone equipped with super little love is too "stupid".

　

　

It is difficult to vividly summarize the advantages of this system, and agree with the official words "strong", "easy to use" and "alive".

　

On WeChat, Xiaoshuai said to you, "Xiaomei, I want you to eat pig’s foot rice at five o’clock tomorrow afternoon." You said "Write it down" on your mobile phone, and Super Little Love read the screen and recorded the appointment of pig’s foot rice in the schedule.

　

When you see the beautiful clothes of the little red book blogger, you say "search the same shirt" on your mobile phone, and Super Little Love will help you search the whole network;

　

You want to watch the video of the cat stepping on milk, but you don’t want to go to the vast photo album to look through it. Say "Help me find the video of the cat stepping on milk" on your mobile phone. Hey, it really turns it out for you, and it starts with the frame of the cat stepping on milk.

　

This is really a mobile phone that can be used without fingers! But whether you need this function (for example, some people really enjoy making their own schedules) depends on you.

　

By the way, as an Apple user, I am deeply fascinated by the timbre of Super Little Love, which is so unlike AI. Do all your Xiaomi users eat so well?

　

From 4499 yuan: Xiaomi 15 series mobile phone

　

Heart-warming reason: good-looking, studded (cultivating drill)

　

What is the most prominent feature of Xiaomi 15 mobile phone? Judging from the order and length of the story, the appearance may be the most effective. Size, small, thin and light, it is no longer the kind of typing instrument that was popular in previous years.

　

Xiaomi 15 mobile phone also has a special bright silver version with a sparkling backplane on the back; Customized versions of various colors; Limited edition with a diamond-these are all good, but the disadvantage is that it is probably inconvenient to use the phone case (but you know, the phone case is often much more beautiful than the phone itself).

　

　

Liangyinban bilibili/ Xiaomi Company

　

　

Diamond-encrusted version of bilibili/ Xiaomi Company

　

In addition to "good-looking", Xiaomi didn’t put too much emphasis on other features of the mobile phone, and it felt a little long, and even put a jingle on it (and it didn’t rhyme).

　

　

As for the 15 Pro, the main thing is that all kinds of performances are Pro, and the weight and size are pro.

　

From 999 yuan: Xiaomi Pad 7, Pro and floating keyboard

　

Benchmarking Apple in all directions: My proportion is more comfortable than yours, and my floating keyboard is easy to use and the price is much lower than yours.

　

　

Xiaomi pad 7 since 1999; Pad 7 Pro 2299 yuan.

　

　

From 399 yuan: bracelet, charging treasure

　

The bright spot is limited, which belongs to the regular upgrade of conventional products. For example, the screen of the bracelet is bigger, the movement mode is better, and more message centers are accessed; The charging treasure has its own line and fast charge, and it can also be taken on the plane.

　

　

　

Mi band 9 Pro TPU wristband: 399 yuan

　

　

Pro version of the old appliances

　

There is a saying that Xiaomi’s household appliances are quite good, easy to use, beautiful and easy to sell. Moreover, Xiaomi has just built a super-large smart home appliance experiment center in Wuhan.

　

Today’s press conference also released some pro versions of existing household appliances, and we think that washing machine is really good.

　

　

3299 yuan: Xiaomi smart door lock M30

　

Smart door locks are very popular, aren’t they? Such things as key chains will be as extinct as wallets. This Xiaomi intelligent door lock M30 has many ways to unlock: palm vein recognition, face recognition, fingerprint recognition, password, emergency key, Bluetooth …

　

In fact, it is necessary to diversify the unlocking methods. For example, if the hands are too dry or the fingers are worn out and peeled, it is not easy to unlock the fingerprint. Wearing a mask hat, face recognition is not good; If you have a bad memory, your password won’t work. In short, it provides you with a variety of ways to get in.

　

　

Xiaomi Intelligent Door Lock M30 È bilibili//Xiaomi Company

　

From 8499 yuan: Xiaomi TV S Pro 85

　

Compared with the previous version, there are some quantitative changes, such as more partitions and better picture quality; There are also some qualitative changes, such as carrying 澎湃 OS 2.

　

Nothing else is very special, after all, even the "standby picture is lifelike like a mural" can be taken out and said specifically.

　

　

Ask knowledgeable friends to say, is there any qualitative leap in this TV? Bi bilibili/ Xiaomi Company

　

3999 yuan: mijia refrigerator Pro

　

Xiaomi kitchen is full of electricity, who has used the trouble to raise a hand, and what experience is it?

　

This Pro Xiaomi refrigerator has three selling points: dual system. The refrigeration and freezing areas have their own refrigeration system, evaporator and circulating air duct, which means that they are separated except for the circuit and physical form.

　

Everyone who buys household appliances knows the benefits of double circulation: refrigeration and freezing don’t smell bad.. The dual system makes the temperature control of refrigeration more accurate, and the food is delicious and safe.

　

　

Tu Miao bilibili/ Xiaomi Company

　

2999 yuan: Mijia washing machine Pro blue oxygen

　

This washing machine focuses on "blue oxygen" technology, which can electrolyze water, generate five different reactive oxygen ions for cleaning, achieve sterilization and so on-so I have been thinking all the time, which five are these "five reactive oxygen ions"? I, a chemistry graduate, am ashamed because I have no impression of this knowledge.

　

　

Blue oxygen washing machine, bilibili/ Xiaomi company, which doesn’t understand the subtleties very well

　

But this washing machine is really nothing compared with the following paragraph!

　

Very shocking new home appliances!

　

None of the above is very exciting, but I really "wow" when Xiaomi released two new household appliances without collecting money.

　

4999 yuan: Mr. Lei, did you really make the partition washing machine?

　

When you use a washing machine, you always have to face several soul questions: can you lose your underwear in the washing machine? Can underwear and coat be washed together? Is it too wasteful to turn on the washing machine just by washing the underwear changed at night?

　

So before, some netizens shouted under Lei Jun’s social dynamics: Lei Zong! Please make a partition washing machine!

　

　

Unexpectedly, it was really made this time.

　

Mijia, a washing machine, actually has two drums. The two drums have independent suspension systems (earthquake resistance and noise reduction), five variable frequency motors (washing, drying and water supply and discharge of the two drums) and six temperature sensors. The big drum is used as an ordinary washing machine, and the small drum is used to wash underwear. The design of cold water decomposition, temperature rise and stain removal, and underwear laundry liquid special delivery drum is specially designed for underwear, and the effect of sterilization, acaricide and virus killing is better.

　

　

　

The characteristics of big tube and small tube: bilibili/ Xiaomi company

　

　

Design of small tube for washing underwear; bilibili/ Xiaomi company

　

What is touching is that,Its big cylinder and small cylinder can wash clothes or dry at the same time.It is said that the working temperature and state will not interfere with each other.

　

The most touching thing is that instead of "welding" a small washing machine on an ordinary washing machine, it finally gets a giant "multifunctional" washing machine, butIt’s really only as big as a standard drum washing machineSimple and beautiful, easy to change the machine in situ painlessly.

　

　

I cried, bilibili/ Xiaomi Company.

　

I think Mr. Lei has only one problem to solve: Do you want to design another small tube, so that the big tube washes the coat, the small tube A washes the underwear and the small tube B washes the socks?

　

Driven by curiosity, I really searched the existing partition washing machines on the market. Many high-end and low-end brands have introduced twin washing machines/washing and drying machines. Generally, the upper drum is about 4kg, the lower drum is 9-10kg, and the height is about 1.5 washing machines. This does create a problem,It’s just that a family needs extra space if they want to replace their old washing machine with this one., may not be able to install directly on the old machine.

　

　

A partition washing machine that Xiaomi had produced before is more like a huge sewing monster (but it sells well according to themselves). What about bilibili/ Xiaomi Company?

　

TCL has also introduced a flip-top product, with an upper cylinder of 2kg (possibly a pulsator) and a lower cylinder of a drum washing machine. It’s a dual-motor product, but it’s not sold in online stores. It’s only displayed in official website. I wonder if it’s not popular enough.

　

　

In these two types of washing machines, the main drum and the auxiliary drum are on the same longitudinal axis, so they can use the same set of counterweight system (cement pier). The auxiliary cylinder of Xiaomi is greatly deviated from the center line. Will it really not shake the machine more and more when it is dried? Is this what it is?Double suspension systemBecause of?

　

Next, we hope Xiaomi can answer this question: can you save some electricity by washing and drying with a small tube alone?

　

3499 yuan: air-conditioning disease, cured by one of your vents?

　

Air conditioning is not perfect. Blowing cold air directly in summer will cause "air conditioning disease", and heating with warm air in winter is not effective, because the hot air has gone to the ceiling.

　

We have always known this problem, but the solution is to "blow less in summer", "buy a pocket to change the wind direction" and "wear more clothes in winter without turning on the air conditioner".

　

Only Xiaomi is really solving the problem!

　

The air outlet of this Mijia air conditioner is upward! The advantage of this is that in summer, the cold air comes out from the top and blows out the "canopy wind" along the ceiling, not directly at people.

　

　

Nobody can be blown straight, can they? Bi bilibili/ Xiaomi Company

　

What about winter? Isn’t it even harder to get warm air? Hey, when it comes to heating in winter, this air deflector will turn over and let the warm air tilt down, forming a "carpet wind"! When I saw this page of PPT, I heard a "wow" at the press conference: Really, why didn’t we think of it?

　

　

Warm air goes down first! Bi bilibili/ Xiaomi Company

　

It sounds as if the problems of "direct blowing in summer" and "not warm in winter" have been solved in theory, but what is the actual effect? Let’s wait for the pioneers to buy it!

　

814,900 yuan car: SU7 Ultra can compete in the street.

　

To tell the truth, in this release, I seem to hear manager Lei choke several times …

　

This afternoon (before the press conference), the prototype of SU7 Ultra ran at the speed of 6’46"874 at the New North Circuit, becoming the fastest four-door car in the history of New North. In the previous month, the weather and road conditions in New North have been poor, and it is said that it is only enough to run once; They ran such a speed under the unfavorable conditions of slippery ground, and manager Lei said it was really exciting. The 100-meter acceleration of the production car also reached 1.98 seconds.

　

The selling point of this car is "street racing", from motor to carbon fiber material and brake disc, it is aimed at high-end development. The price is also much higher than Su7: 814,900.

　

　

　

Moreover, its post-race performance analysis and fast sharing of lap videos remind me of …… Mario Kart 8. You can not only compare with your own historical achievements, but alsoCompare with the historical achievements of other drivers on the same track., plus detailed performance analysis, tell you where to run better … This mode is a bit impressive!

　

　

　

Well, after reading our conference summary, which products are you most satisfied with?

　

Authors: Li Xiaokui, luna,

　

The operating comments of the board of directors of Rongbai Technology in 2022 are as follows:

　　I. Discussion and analysis of business conditions

　　During the reporting period, the global market demand for new energy vehicles still maintained a high-speed growth trend. According to the data in the White Paper on the Development of New Energy Vehicle Industry in China (2023), the global sales of new energy vehicles reached 10.824 million in 2022, up 61.6% year-on-year. According to the statistics of GGII and other institutions, in 2022, the global ternary cathode materials shipped about 980,000 tons, up 55% year-on-year, of which the global high-nickel cathode materials shipped about 328,000 tons, up 64% year-on-year. The ternary cathode materials market continued the trend of high nickel, and the product iterative upgrade was accelerating.

　　Benefiting from the strong demand of downstream battery companies, the accelerated launch trend of high-energy-density models of mainstream European and American car companies, and the company’s continuous improvement of profitability through process progress and supply chain optimization, the performance in 2022 has been significantly improved. During the reporting period, the company achieved an operating income of 30.123 billion yuan, a year-on-year increase of 193.62%; The net profit attributable to listed companies was 1.353 billion yuan, a year-on-year increase of 48.54%.

　　(1) The market share of Sanyuan ranked first in the world, and the product and customer structure were continuously optimized.

　　In 2022, the total sales volume of the company’s high-nickel 8 series and above ternary cathode products was nearly 90,000 tons, up 70.13% year-on-year. Among them, frontier materials such as high nickel, low cobalt and ultra-high nickel have been shipped in thousands of tons. According to the statistics of Xinyi Information, in 2022, the domestic market share of the company’s high-nickel ternary cathode materials was 33%, ranking first in the industry for three consecutive years, maintaining the first market share in the world for two consecutive years, and its leading edge continued to expand. During the reporting period, the company has built a cathode production capacity of 250,000 tons/year, and has four cathode material bases in Ezhou, Hubei, Xiantao, Zunyi, Guizhou and Chungju, South Korea.

　　During the reporting period, the company actively expanded its customer base, established cooperative relations with domestic new energy vehicle companies and mainstream car companies in Europe and America, and developed cutting-edge products.

　　(II) Merger and acquisition and integrated layout of lithium manganese iron phosphate, with product technology, market development and production and sales scale leading in the industry.

　　During the reporting period, the company formally laid out the field of lithium manganese phosphate (LMFP) through the acquisition of Schollander and its subsidiaries. The company’s existing production capacity is 6,200 tons/year, and it is the only enterprise that realizes mass production of lithium manganese iron phosphate. Its products cover 3C digital and power batteries in the sales market, and it is in a leading position in the product development of many well-known battery customers at home and abroad.

　　(III) Initiated the launch of a new strategic product-sodium battery cathode material, with comprehensive development capability and mass production progress leading the industry.

　　As a new battery material, the product competitiveness of sodium battery cathode material has been significantly improved compared with traditional materials, and it is expected to be widely used in low-end power battery market, energy storage market, 3C and small power market in the future. The company has comprehensively laid out three technical directions: layered oxide, Prussian blue/white and polyanion, and has completed sample submission and verification with dozens of downstream customers. The current capacity of sodium battery cathode materials is about 15,000 tons/year. During the reporting period, the company sold dozens of tons of sodium anode materials, and its comprehensive development capability and mass production progress were at the leading level in the industry.

　　(D) The strategic layout of globalization has been rapidly promoted, and the production capacity and customer development in South Korea have made remarkable progress.

　　The company’s Chungju base in South Korea is the first high-nickel anode production project built by China enterprises overseas, and the production capacity in South Korea is obviously scarce.

　　On the one hand, China products are subject to a tariff of 25% when exported to the United States, and a tariff of about 6% when exported to Europe; Korean products exported to European and American markets enjoy zero tariff policy.

　　On the other hand, according to the Inflation Reduction Act issued by the United States in August 2022, it is planned to invest about $370 billion in the fields of climate and clean energy, and products produced by countries that have signed free trade agreements (FTAs) with the United States, including more than 20 countries such as South Korea and Australia, can receive a certain percentage of subsidies. Compared with the domestic precursor material production base, the precursors produced by Chungju base in South Korea meet the requirements of the Act on qualified key minerals, and can get a tax credit of $3,750 per vehicle for qualified key minerals that meet the Act; Compared with the domestic cathode material production base, the cathode material produced by Chungju base in South Korea does not fall into the prohibitive restrictions stipulated in the bill, and it is expected to get a tax credit of $3,750 per vehicle. Therefore, the capacity layout of Chungju base in South Korea is of strategic significance.

　　During the reporting period, the Chungju base in South Korea has built a capacity of 20,000 tons/year of high-nickel cathode materials, and the production line has been verified by mainstream customers in Japan, South Korea, Europe and the United States, with a heavy volume basis. At present, the penetration rate of new energy vehicles in Europe and North America is significantly lower than that in China. The company’s internationalization strategy is rapidly advancing, and its products are mainly used in overseas markets, which has huge room for future development.

　　(five) the layout of cutting-edge technology, leading research and development advantages.

　　The company’s high-nickel and ultra-high-nickel multi-product sequence research and development technology is leading the industry. The advanced product lithium-rich manganese-based samples have passed the customer certification, and the spinel nickel-manganese has completed the pilot evaluation, and the related products have excellent performance such as capacity, cycle and rate. The quality and energy density of cathode materials for solid-state batteries have been greatly improved, which has been recognized by domestic and foreign solid-state battery customers.

　　The layered oxide cathode material for sodium battery has overcome the problems of residual alkali, too high pH value, serious gas production and poor cycle, etc., and has taken the lead in realizing the mass production and finalization of a number of sodium battery cathode materials in the industry, and all technical indicators have been evaluated by different customers and are in the forefront of the industry.

　　Lithium manganese iron phosphate material has been certified by many mainstream customers at home and abroad, and it is the first in the world to realize mass production and shipment of thousands of tons. At the same time, a new generation of high ferromanganese ratio products and ferromanganese lithium and ternary blended products have made technological breakthroughs, realizing small-scale mass production, and some customers have entered the stage of batch stability testing.

　　(6) The number of patent applications has reached a new high, and the intellectual property protection system is perfect.

　　The company has continuously intensified scientific research and innovation, tapped innovative talents, explored new materials and technologies while deepening the advantages of high nickel, and laid out a wide network of intellectual property protection around the upstream and downstream of the industrial chain. In 2022, the company applied for a total of 235 patents, a year-on-year increase of 240%, a record high; The total number of patents granted reached 136, and the "intellectual edition" continued to upgrade. The company has laid out a large number of independent intellectual property rights around products, which can provide a strong guarantee for all products of the company to open up the market.

　　(seven) fully implement the "new integration" strategy.

　　The "new integration" strategy is an upgraded systematic competition strategy on the basis of traditional integrated competition, and it is an upgrade of business model. During the reporting period, the company’s "new integration" strategy was launched in an all-round way, integrating resources to the greatest extent to create a competitive new energy industry chain.

　　The most important role of the "new integration" strategy is to strengthen supply chain management, ensure the stable procurement and cost advantage of upstream raw materials by investing along the industrial chain and establishing strategic partnerships with upstream and downstream, and realize a large number of centralized supply to downstream customers. In 2022, the company invested in Liqin resources through Rongbai Battery Triangle Fund, and signed a "Long Order Purchase Agreement" with Liqin resources, forming a double cooperation of long-term procurement and capital. Establish a long-term supply relationship with () and Weilan New Energy, and carry out in-depth cooperation in technology, products and supply chain in the field of batteries and materials to jointly promote the rapid development of high-nickel batteries in the terminal market.

　　In 2022, the company reached a series of strategic cooperation and agreements with multi-level governments such as Hubei Province, Xiantao City and Hanyang District of Wuhan City, aiming at creating a systematic layout of Rongbai Technology in Hubei Province, including multi-dimensional in-depth cooperation such as production base, central China headquarters, new energy technology research institute and equity investment fund.

　　

　　II. Description of the company’s main business, business model, industry and R&D during the reporting period.

　　(a) the main business, main products or services.

　　The company is mainly engaged in the research, development, production and sales of ternary cathode materials and their precursors for lithium batteries. The products are mainly used in the manufacture of lithium batteries, power batteries for new energy vehicles, energy storage equipment and electronic products. The core products are ternary cathode and precursor materials of NCM811 series, NCA series, Ni90 and above ultra-high nickel series.

　　As the first cathode material manufacturer in China to realize mass production of NCM811 series products and apply them to international mainstream terminal car enterprises, the company’s NCM811 series products are in a leading position in the world in technology and production scale. The company has set up several advanced production bases in East China, Central China, Southwest China and South Korea, and laid out a circular industrial chain around the recycling of cathode materials.

　　In the future, cathode materials will develop in two directions: high energy density, safety and low cost. Lithium manganese phosphate and sodium anode materials will be widely used in low-end power market and energy storage market because of their high cost performance. While further strengthening the competitive advantage of high-nickel materials, the company will also accelerate the layout of lithium manganese phosphate and sodium anode materials, and continue to maintain a leading market share.

　　(II) Main business models

　　The company has an independent R&D, procurement, production and sales system, mainly through R&D, manufacturing and sales of ternary cathode materials and their precursors to achieve profitability.

　　1. R&D mode

　　The company has formed a customer-centered and market-oriented R&D system and continuously optimized it. The company has formed a three-level R&D organization of "group level-business department level-factory level", established a model of combining the R&D of the business department with the customer demand as the core and the research institute with the forward-looking new industry and high-end product research and development, and established an inter-departmental product development team through the form of integrated product development (IPD). The company’s Academia Sinica integrates the R&D resources of China, Japan and South Korea, and integrates cutting-edge research, technological innovation, evaluation and testing, resource recovery, engineering development and other resources and capabilities to establish a "horizontal+vertical" all-round R&D system to support the R&D capacity building from original innovation to mass production transformation and process improvement.

　　In terms of product development and industrialization, the company has trained a large number of R&D technicians, formed a systematic training mode for new R&D personnel, continued to empower technicians through R&D system training and knowledge sharing, and provided a steady stream of reserve talents for business expansion. While providing material samples, the company will give suggestions on the use conditions according to the development of customers’ battery products, assist customers to finalize the battery system, and jointly promote the development of product application market.

　　2. Purchasing mode

　　The company’s procurement mode mainly includes procurement strategy and supplier management. In terms of purchasing strategy, for major raw materials such as nickel, cobalt, manganese and lithium, the company has established long-term cooperative relations with well-known raw material suppliers at home and abroad, such as Ganfeng Lithium Industry, Yabao, (), () and Liqin Resources, and formed a list of qualified suppliers with relatively stable, appropriate competition and dynamic adjustment, ensuring the continuous and stable supply of raw materials, excellent quality and reasonable price. In terms of supplier management, the company strictly controls procurement by promoting the standardization of bidding process and systematizing supplier evaluation to ensure the reliability and cost competitiveness of raw materials or equipment.

　　3. Production mode

　　The company mainly adopts the production mode based on sales and fixed production, establishes a perfect production process control program, and establishes a set of processes for quickly and effectively handling customer orders with customer orders and medium-and long-term demand as the core and guidance. After signing the order with the customer, the company will organize and manage the whole process of production planning, quality control and delivery according to the product technical indicators, quantity and delivery date required by the customer, so as to ensure the consistency of delivery on time and product quality. Reduce the inventory level, so as to control the cost reasonably and improve the efficiency of capital utilization.

　　The company also sets a certain safety stock according to market forecast, production capacity and inventory situation, so as to improve delivery speed and maintain balanced production. In order to meet the production of some new materials, the engineering department will optimize the production line layout and equipment structure according to the special needs of new products; In terms of quality control, the production department sets up key control points according to product performance requirements and related processes, and formulates control items and target values.

　　4. Sales model

　　The company mainly adopts the direct selling mode, and the downstream customers are mostly large and well-known lithium battery manufacturers at home and abroad, which are sold in both domestic and foreign markets. Due to the complex material system of lithium-ion battery, the research and development cycle of the main power lithium battery is long, and the manufacturing process requires high precision control. It is required that cathode material suppliers can provide supporting technical solutions and professional and timely technical support and services under different material systems and control systems to ensure the excellent quality of lithium-ion battery products.

　　In order to solve the problems of customers’ wide distribution, rapid development and large scale difference, the company adopts the parallel mode of regional management and large-scale project management in management mode, establishes four production bases in Hubei, Guizhou, Zhejiang and South Korea, and sets up offices in Ningde, Shenzhen and South Korea, so as to maximize the use of market resources, realize the rapid response of product technology, product quality and logistics transportation, and respond to customer needs quickly. In addition, for strategic customers, according to their specific requirements for product technical parameters, customized production is realized to ensure their stable supply and high performance requirements for products.

　　(3) the industry situation

　　1. The development stage, basic characteristics and main technical threshold of the industry.

　　Benefiting from the policy of "peak carbon dioxide emissions, Carbon Neutralization", new energy has developed rapidly around the world. The company’s industry is the cathode material industry of lithium-ion batteries, which belongs to the key material industry in the field of new energy, new materials and new energy vehicles. The explosion of the new energy vehicle market has driven the rapid expansion of the lithium battery industry. As one of the key materials of lithium batteries, the cathode material industry is in a high-speed development stage, and there is a strong demand in the downstream and terminal markets at present and in the future.

　　In 2022, the heat of lithium iron phosphate battery and high nickel ternary battery in the installed capacity of global power batteries increased, and lithium manganese phosphate and sodium battery cathode materials began to show their edge. With the characteristics of low cost, strong safety and the growth of energy storage market, Ferrous lithium phosphate’s loading capacity has increased significantly year-on-year; Restricted by the price of lithium and nickel, the increase speed of high nickel permeability is delayed, but the high density energy makes its position as one of the mainstream technologies in the future still stable; Lithium manganese iron phosphate has excellent comprehensive properties and is expected to replace middle and low nickel ternary materials and part of lithium iron. Sodium cathode materials have been initially applied in the fields of energy storage and low-speed power, and are expected to replace Ferrous lithium phosphate and lead-acid batteries in some fields due to their low cost, high safety and excellent low-temperature performance.

　　In the long run, the development of power batteries needs to take into account the goals of cost and energy density, and the two technical paths represented by lithium manganese phosphate and high nickel ternary are the most clear. Compared with Ferrous lithium phosphate, lithium manganese phosphate has higher density and energy, and retains the safety and low cost characteristics of lithium iron phosphate batteries. The high nickel route can significantly reduce the material cost and ensure high specific capacity. Thanks to the more competitive cost per watt-hour and the continuous emergence of lithium battery structure innovation technology, as the mainstream choice of high-end models and long-life models in domestic and foreign OEMs, there is no doubt that the market application field of high nickel batteries will expand for a long time.

　　At present, there is a high technical threshold in the high nickel ternary cathode material industry, which is mainly reflected in three aspects: development technical barriers, production technical barriers and quality certification barriers. A high threshold of R&D technology requires not only technical modification such as doping and coating, but also calcination in oxygen atmosphere, which puts forward higher and higher requirements for production line design ability, personalized product development ability and technical service ability, as well as more stringent requirements for humidity control of production environment, corrosion resistance of equipment and automation level.

　　In addition, high-nickel ternary cathode material is one of the most important raw materials for power batteries, which has a great influence on the core performance and safety performance of power batteries. Considering the product stability and safety, the certification and testing procedures for NCM811, NCA and other products are more complicated for car companies and power battery companies, which require not only long-term product performance testing, but also detailed evaluation of manufacturers’ comprehensive supply capacity, automatic production management level, low cost and quality stability and consistency under mass production.

　　2. Analysis of the industry position of the company and its changes.

　　During the reporting period, based on the new integration strategy, the company transformed and upgraded to a comprehensive cathode material supplier covering the whole market. While firmly taking the high nickel route, it actively laid out lithium manganese phosphate and sodium battery materials, covering high, medium and low-end power, small power, energy storage and digital market, and became the fastest cathode material company in transformation.

　　According to the statistics of Xinyi Information, in 2022, the cumulative output of ternary materials in China was 602,300 tons, up 51.3% year-on-year, and the cumulative output of high-nickel materials (8 series and above) was 269,400 tons, up 76.9% year-on-year, and the permeability reached 44.7%. At the same time, Xinyi information data shows that in 2022, the domestic market share of the company’s high-nickel ternary cathode materials was 33%, ranking first in the industry for three consecutive years, maintaining the first global market share for two consecutive years, and its leading edge continued to expand. During the reporting period, the company built a high-nickel production capacity of 250,000 tons, leading the world in production capacity, realizing the completion and commissioning of the first overseas high-nickel cathode production capacity project in China’s cathode industry, and promoting the globalization of production capacity in China’s cathode industry. The main customers of the company’s high-nickel products have covered Contemporary Amperex Technology Co., Limited, Funeng Technology, Honeycomb Energy, SKon, () and other well-known lithium-ion battery manufacturers at home and abroad. As the main suppliers of high-nickel anodes such as Contemporary Amperex Technology Co., Limited and Funeng Technology, the company’s high-nickel products have been introduced into the international mainstream customer supply system, and have taken the lead in large-scale application in new energy vehicle power batteries worldwide.

　　In 2022, the company achieved rapid entry into the lithium manganese phosphate track through the acquisition of Schollander. As the only enterprise in the world that achieved large-scale mass production of lithium manganese phosphate, the company’s existing products are in a leading position in the development and certification of many mainstream customers at home and abroad. The background of high lithium price provides a strategic opportunity for the industrialization of sodium ion batteries. The company has comprehensively laid out three technical directions of layered oxide, Prussian blue/white and polyanion through self-research, and has completed sample submission verification with dozens of downstream customers. The comprehensive development capability and mass production progress are at the leading level in the industry, and the company has an absolute leading edge in the technical route of layered oxide with the fastest commercialization.

　　In 2023, the company’s production capacity layout in China and South Korea gradually landed, and the strategic planning research in Europe and the United States was gradually carried out. The company will continue to promote technology iteration and new product development and application, firmly implement the new integration strategy, keep up with industry trends, and consolidate the company’s position as the world’s leading supplier of cathode materials.

　　3. The development of new technologies, (), new formats and new models during the reporting period and the future development trend.

　　During the reporting period, the new energy vehicle market developed at a high speed, and the performance requirements of power batteries and energy storage batteries continued to improve. As one of the cores of new energy power batteries, cathode materials directly affected the battery’s energy density, cycle, rate, internal resistance and other aspects, and it was a high-cost part of lithium/sodium batteries. The following is the development and future development trend of new technologies during the reporting period:

　　1.4680 electrodeless large cylindrical battery

　　The 4680 battery, a brand-new cylindrical battery with a diameter of 46 mm and a height of 80 mm, is suitable for mid-to-high-end passenger cars. The battery adopts electrodeless ear, large battery core and dry battery technology to improve work efficiency and safety, and has the advantages of high energy density, low cost, high safety and long life. According to the open market data, the capacity of a single cell of 4680 battery is increased by 5 times, and the power is increased by 6 times. At the vehicle level, the cruising range is increased by 16% and the cost is reduced by 14%. The large-scale process improvement is realized to improve the efficiency and reduce the cost. The core difficulties of this technical route are mainly reflected in welding technology, dry electrode technology and yield. In 2022, through process improvement, Tesla 4680 battery has increased the product yield from the initial 20% to 92%, and the weekly production capacity of 4680 batteries has reached 868,000, breaking through the yield bottleneck. The market expects that 2023 will become its first year of mass production.

　　The high safety of 4680 large cylindrical battery adapts to high-density system, and its packaging structure has high thermal safety and mechanical properties, which greatly reduces the risk of high nickel ternary application. At present, NCM811 is the main anode of 4680 battery, and if ultra-high nickel Ni90 is used instead of NCM811 in the future, the cost can be reduced and the efficiency can be improved. With the mass production and production line expansion of 4680 battery, high nickel ternary materials will be the first to benefit. As the first cathode material manufacturer in China to realize mass production of NCM811 series products and apply them to international mainstream terminal car enterprises, the mass production application of 4680 battery will bring broad market opportunities for the company.

　　2. Sodium ion battery

　　Sodium ion battery is a kind of secondary battery. Compared with Ferrous lithium phosphate lithium ion battery, its cost can be reduced by 30%-40%, and its low temperature performance is excellent. In the low temperature test at -20℃, the capacity retention rate can reach more than 88%, which is much higher than that of Ferrous lithium phosphate lithium ion battery. In the future, it is expected to be widely used in energy storage, low-speed electric vehicles, electric two-wheeled vehicles, electric boats and other fields with low energy density but strong cost sensitivity. In 2022, under the background of high-priced lithium, the key scene of superimposed energy storage broke out, and sodium ion batteries with similar working principles to lithium ion batteries flourished. Demand pull+technical thrust became the key point for the industrialization of sodium ion batteries from 0 to 1.

　　At present, the mainstream cathode materials of sodium ion batteries mainly include layered oxides, Prussian analogues, polyanionic compounds and so on. Layered oxide has the advantages of simple preparation method, easy mass production conversion, high energy density and high rate performance, which is the main layout direction of domestic enterprises and is expected to be the first to realize industrialization. Prussian compounds have the advantages of low cost and high specific mass energy density. The main advantages of polyanionic compounds are low cost of raw materials, stable structure and good cycle performance. At present, the cathode material of sodium battery presents the situation of coexistence of multiple routes.

　　At present, the company has comprehensively laid out three technical directions in the field of sodium battery cathode materials: layered oxide, Prussian blue/white and polyanion, and has completed the sample submission verification of many downstream customers, and its comprehensive development capability and mass production progress are at the leading level in the industry.

　　3. Lithium manganese iron phosphate battery

　　Lithium ferromanganese phosphate is an upgraded version of Ferrous lithium phosphate, which is a new type of phosphate cathode material for lithium ion batteries, which is formed by doping a certain proportion of manganese on the basis of Ferrous lithium phosphate. High energy density is the core advantage of LiFePO4 compared with Ferrous lithium phosphate. The energy density is about 15% higher, and it has a higher voltage platform, while retaining the safety and low cost characteristics of LiFePO4 batteries. With the progress of modification technologies such as carbon coating, nanocrystallization and lithium supplementation, the conductivity that used to restrict the development of lithium manganese phosphate has been improved, and the industrialization process has been accelerated. According to market estimates, in 2023, domestic lithium manganese phosphate will be mass-produced stably and applied to the field of electric vehicles on a large scale. Through the acquisition of Schollander, the company achieved mass production of lithium ferromanganese, actively cooperated with downstream customer certification, and the development progress was in the forefront.

　　4. Lithium-rich manganese-based cathode materials

　　Lithium-rich manganese-based materials take cheap manganese as the main transition metal element, and the specific discharge capacity can reach 250mAh/g and above. Compared with LFP, NCM and NCA, lithium-rich manganese-based materials have higher mass and energy density, which is about 1.5 times of the actual capacity of commercial cathode materials at present, and can improve the endurance of power batteries. Its nickel content is only about 30% of ternary materials, and cobalt element is not needed, so the cost is low.

　　At present, lithium-rich manganese-based cathode materials are in the research and development stage as a whole, and technical problems such as improving rate performance and restraining voltage attenuation during cycle and storage need to be solved. If the technical bottleneck is solved, lithium-rich manganese-based cathode materials will become the cathode materials with great potential for the next generation of lithium-ion batteries, and will be widely used in automobile, energy storage, small power, digital and other fields.

　　5. Solid-state battery

　　The biggest difference between solid-state lithium battery and traditional lithium battery lies in electrolyte. Traditional lithium batteries use a separator+electrolyte with a liquid substance in the middle, while solid-state batteries use solid electrolyte. Compared with traditional lithium batteries, solid-state lithium batteries have better safety and higher energy density.

　　At present, the electrolytes of solid-state batteries that have been used or are close to commercial use include polymers, sulfides and oxides. Among them, oxide electrolyte has the best air stability, which is widely used in solid-liquid mixed system solid-state batteries, and its cost is low. The main defect is that the interface contact problem has not been solved perfectly. Oxide electrolyte is more suitable for power batteries. Nowadays, most domestic enterprises choose the technical route of oxide system, and its manufacturing process and modification level are also steadily improving. In addition, sulfide electrolyte shows high rate performance in all-solid-state system by virtue of its ionic conductivity comparable to that of liquid electrolyte, and major battery cells and car companies in Japan, South Korea, Europe and America are actively deploying sulfide all-solid-state battery business. The electrochemical window based on sulfide electrolyte is narrow, and the stability of the interface between electrolyte and anode and cathode is poor, so further improvement is needed to realize industrialization.

　　Based on the intrinsic defects of electrolyte, the company has prepared solid electrolyte with high ionic conductivity, developed ternary cathode materials suitable for solid-state batteries, and improved the interface compatibility between ternary cathode and solid electrolyte, which has been highly recognized by downstream customers at home and abroad.

　　(IV) Core technologies and R&D progress

　　1. Core technologies and their advanced features and changes during the reporting period.

　　Since its establishment in 2014, the company has been deeply involved in the research and development, production and manufacturing of cathode materials and precursors for lithium-ion batteries, and has successfully mastered a number of industry-leading core technologies with outstanding scientific and technological innovation capabilities and industrial M&A capabilities. By December 31st, 2022, the company had 346 registered patents (72 invention patents and 274 utility model patents) at home and abroad, which protected the core technology. The company actively carries out technical layout around the frontier of lithium/sodium battery materials. The main core technologies cover cathode materials, precursors, resource recovery and related materials of lithium/sodium batteries, including ultra-high nickel (Nimo%≥90) cathode materials production technology, NCMA quaternary cathode materials production technology, sodium layered oxide cathode materials production technology, cathode materials atmosphere sintering technology, high-voltage single crystal materials production technology, precursor coprecipitation technology, NiCoMn metal recovery technology and so on. The company has tons of experience in producing ferromanganese Prussian white sodium ion battery materials and the preparation technology of various types of solid electrolytes, and is continuously improving the high-voltage nickel-manganese cycle performance, and at the same time increasing the research on lithium-rich manganese-based cathode materials and lithium ferromanganese phosphate cathode materials. The company is committed to the cultivation, development, achievement transformation and industrialization of core technologies. The high-nickel low-cost cathode materials and ultra-high-nickel cathode materials have made breakthroughs in the large-scale stable preparation of production lines, and small quantities are supplied to domestic and foreign customers including power batteries, semi-solid batteries, 3C and other fields.

　　2. R&D achievements obtained during the reporting period

　　During the reporting period, the company comprehensively promoted the concept of integrated product development in Academia Sinica and related business divisions, greatly optimized the collaboration between the research institute and various departments of the company, rationalized the organizational structure, planned regional R&D centers such as Central China New Energy Technology Research Institute, and signed the Project Cooperation Agreement between Hubei New Energy Technology Research Institute and Central China Regional Headquarters with the Hanyang District People’s Government of Wuhan. In order to improve the detection and analysis ability of batteries and materials, the company carried out battery chemistry research business, and increased investment in the detection of positive electrodes and precursors and electrochemical mechanism research; In view of the rapid development of the new energy industry chain (peers, customers, industry technology status and development trend, etc.), a market analysis business department was established to collect and analyze industry information, which served as the direction basis for the promotion of R&D technology, effectively supporting the company’s material development and mass production introduction speed, and significantly improving the company’s R&D strength.

　　During the reporting period, the company applied for 357 new patents. Among them, there are 136 domestic invention patents and 221 domestic utility model patents; The company added 208 authorized patents.

　　3. R&D investment table

　　Reasons for significant changes in total R&D investment compared with the previous year

　　During the reporting period, the R&D investment of the Company was RMB486,554,300, an increase of RMB127,051,600 or 35.34% over the same period of last year. At the same time, the number of R&D personnel increased by 102, an increase of 20.52%. In addition, the company pays attention to product research and development and technological innovation, continuously increases investment in research and development, and actively conducts research on new product development and process upgrading.

　　4. Research projects

　　letter of presentation

　　This year, the company made breakthroughs in the key materials of solid-state batteries, cathode materials of sodium ion batteries and new battery materials such as spinel lithium nickel manganate and lithium-rich manganese, which enhanced the company’s technical reserves in the cutting-edge technical fields of new energy industry from the aspects of system expansion, technical breakthrough and experimental scale enlargement, and provided strong technical support for the second step of the company’s strategy "running an industry well".

　　5. R&D personnel

　　6. Other explanations

　　

　　Iii. Analysis of core competitiveness during the reporting period

　　(A) analysis of core competitiveness

　　The company’s main product, Ni-Co-Mn ternary cathode material, is the core key material of power battery in new energy automobile industry, which directly determines the energy density, cycle life, safety and product cost of power battery. After years of accumulation and exploration, the company has formed comprehensive competitive advantages such as technological innovation and product research and development advantages ahead of the industry, customer collaborative service advantages, engineering equipment development and production line design, as follows:

　　1, industry-leading independent innovation core technology advantages

　　In terms of independent innovation, the company has formed and mastered a number of internationally advanced and mature key core technologies in the manufacturing field of ternary cathode materials and their precursors through continuous R&D investment and technical exploration, and has independent intellectual property rights with clear ownership. The ternary cathode materials with high nickel, ultra-high nickel polycrystalline and single crystal developed by the company are at the international leading level, and are used in the cutting-edge products of many well-known and leading power battery manufacturers at home and abroad.

　　2. Advantages of R&D system with outstanding scientific and technological innovation capability

　　The company integrates transnational R&D teams and resources of China, Japan and Korea, and actively develops new products and promotes the quality improvement of existing products through independent R&D and technical cooperation. Since its establishment, the company has continuously overcome a number of key core technologies in the field of ternary cathode materials for power batteries, and successively introduced high-end material products such as NCM523, NCM622, multi-generation high-nickel NCM811, NCA and NCMA, and cooperated with many domestic battery manufacturers to develop a variety of new power batteries with high energy density.

　　3. Multi-level technical reserve advantages of continuous iteration

　　Through continuous and in-depth technology research and development layout, the company promotes internal and independent product upgrading and new product development, and realizes the iteration of industry technology upgrading. The company implements the research and development strategy of "cutting-edge technology research, product development under research, and continuous optimization in production". In addition to continuous optimization and upgrading of mass-produced products, it has also implemented a number of cutting-edge new product development projects. The company has continuously made technological breakthroughs in the development of new materials suitable for solid-state batteries, such as modified high nickel/ultra-high nickel ternary cathode materials, oxide solid electrolyte and sodium ion battery cathode materials, lithium manganese phosphate cathode materials, lithium-rich manganese-based cathode materials, and spinel lithium nickel manganate cathode materials.

　　4. Positioning the advantages of customer resources of first mover and in-depth cooperation.

　　Cathode material is the key core material of ternary lithium battery. Lithium battery manufacturers implement strict certification mechanism for suppliers, and it usually takes several years from sample delivery to mass production. The company’s high-nickel products first passed the certification procedures of many mainstream lithium battery manufacturers at home and abroad. With the first mass production and continuous launch of multi-generation single crystal and high-nickel products, it has formed obvious first-Mover advantage and good market reputation in the industry. At the same time, the company has established long-term service and supporting development cooperation with mainstream lithium battery manufacturers at home and abroad. By entering the supply chain of international mainstream automobile enterprises, it can more accurately grasp the technical trends and commercial needs of new energy vehicle power batteries and ensure the accuracy of the company’s business direction. In the future, on the basis of further deepening the comprehensive strategic cooperation with major domestic customers, the company will actively promote the establishment of strategic cooperative relations with international customers or sign long-term supply agreements to further optimize the customer structure.

　　5, continuous iterative innovation of engineering technology and ability advantages

　　During the reporting period, the Company established the Engineering Division and started the construction of Xiantao Engineering Equipment Company in Xiantao, Hubei Province, improving the organizational construction, and plans to continuously upgrade the barriers in the field of engineering equipment in terms of engineering technology innovation, engineering equipment innovation, engineering management integration and supply chain development. The company’s high nickel production line is compatible with the production of ultra-high nickel materials, sodium ion cathode materials, nickel-manganese binary materials and so on. In order to enhance the advantages of production line, the company will also carry out in-depth pre-research and reserve of equipment technology, focus on independent development and manufacturing of core equipment, carry out research on new process equipment and engineering production line technology of precursor-cathode integration, and promote the industrial application of new equipment; Promote the introduction of information automation technology for new production lines and improve the overall intelligence level of production lines; Continuously strengthen the project management ability, improve the stability and qualified rate of the production line, and study the replication of project experience to realize the rapid expansion of the project and reduce the investment and operation cost of the production line.

　　6. Grasp the advantages of industrial layout of core technologies of green economy.

　　While mastering the integrated core technology of ternary cathode materials and their precursors, the company actively laid out the business field of recycling waste lithium battery materials, formed a complete closed-loop and competitive advantage of power battery recycling, and actively promoted environmentally friendly production methods. The company has the core technologies of recycling waste materials such as "NiCoMn metal recycling technology" and "Li2CO3 recycling technology", and can recover usable nickel, cobalt, manganese and lithium materials through inorganic acid dissolution, impurity removal, coprecipitation and other methods, with high comprehensive recovery rate, which is at the leading level in the industry. TMR Co., Ltd., a joint venture subsidiary invested by the company, has realized the mature application of lithium battery waste recycling business, which is an important strategic layout for the company to expand into the field of power battery recycling. In addition, the company adopted a number of recycling technologies in the production process of ternary material precursors, which realized the eco-recycling economy of precursor production while avoiding environmental impact.

　　7. Competitive advantages of multi-product layout and multi-application scenario coverage.

　　The company has realized multi-product layout, not only developing different series of products in ternary cathode, but also laying out the front cathode materials such as lithium manganese phosphate, sodium battery, high-voltage lithium nickel manganate and lithium-rich manganese base, and it is one of the few cathode material manufacturers in the industry with full market coverage. The company can fully cover the two major market demands of power and energy storage through three cathode materials: high nickel ternary, lithium manganese phosphate and sodium electricity. The company’s high-nickel ternary materials are mainly used in the high-end market of new energy vehicles. The series of mixed products of high-nickel ternary and ferromanganese lithium and pure products of ferromanganese lithium will be mainly used in the low-end market and energy storage market of new energy vehicles, and the sodium battery cathode materials can be widely used in the energy storage market. The company’s multi-product layout and multi-application scenario coverage provide a strong guarantee for the company’s performance and the second growth curve.

　　8. Unique advantages of M&A integration and integration of industry and finance.

　　The company is jointly established by two teams, China and South Korea, which have more than 20 years of successful entrepreneurial experience in the lithium battery industry. It has formed a mature tool system for mergers and acquisitions in sub-sectors and has the ability to integrate, extend and improve the industrial chain for cross-cultural and cross-regional enterprises. In December, 2021, the company acquired Fenggu Energy Saving, the first domestic company to develop and mass-produce ceramic rotary kiln equipment, to improve the matching between process equipment and cathode technology and to raise the manufacturing barriers of cathode materials. In March 2022, the company cooperated with the platform of Xiantao City, Hubei Province, and set up an equity investment fund, focusing on the upstream industry of lithium battery cathode materials and the battery manufacturing, application and recycling industries to achieve a coordinated industrial layout. In July 2022, the company acquired Schollander, a lithium manganese iron phosphate cathode material company, which enriched the company’s product structure and enhanced the company’s comprehensive competitiveness in the field of cathode materials. In the future, under the guidance of the company’s new integration strategy, the company will continue to give play to the advantages of industrial mergers and acquisitions integration and integration of industry and finance. The company will not only focus on ternary cathode and precursor materials, but also invest in upstream, horizontal and downstream to realize business synergy, innovation synergy and strategic synergy of the whole industry chain.

　　(II) Events that have seriously affected the core competitiveness of the company during the reporting period, impact analysis and countermeasures.

　　

　　Fourth, risk factors

　　(A) Not yet profitable risk

　　(2) Risk of sharp decline in performance or loss

　　(C) core competitiveness risks

　　The key core competitiveness of lithium battery cathode material enterprises lies in product research and development innovation ability and manufacturing technology. The technology of power lithium batteries and cathode materials is updated quickly, and the application market of cathode materials for lithium batteries has extremely strict requirements on product performance and quality. It is very important for the company’s sustainable development to continuously maintain a high-quality technical team, develop and manufacture high value-added products with industrial competitiveness.

　　The company attaches great importance to the cultivation and introduction of technical personnel to ensure the effective organization and successful implementation of various R&D work, but it may still face the risk of core technology leakage and technical personnel loss brought about by industry competition in the future. The company has established corresponding confidentiality system and job isolation system for core technologies, strictly supervised proprietary technical data and information, and signed technical confidentiality agreements with relevant managers and technicians. However, if there is a loss of technical personnel, the company is at risk of technology leakage, which will adversely affect the company’s production and operation. At the same time, if there is a breakthrough in the core technology of power batteries and cathode materials in the future, and the company cannot always maintain the industry-leading level of new technology and new product development and continue to make progress, it will have an adverse impact on the company’s market position and core competitiveness.

　　(4) Operational risks

　　1. Risk of raw material supply and price fluctuation

　　The upstream raw materials of ternary cathode materials produced by the company are nickel salt, cobalt salt and lithium salt. Because of the high price of related raw materials, the raw material cost accounts for a high proportion of the total production cost of ternary cathode materials. Although the company has established a relatively complete raw material procurement management system and strategic suppliers cooperation relationship, changes in the macroeconomic situation and unexpected events may still cause great fluctuations in raw material supply and prices, thus having a greater impact on the company’s operation.

　　2. Risk of capacity expansion and underutilization

　　Based on the expectation of high-speed growth of the industry and the cooperation of downstream customers, during the reporting period, the company rapidly expanded its production capacity, including Hubei Ezhou Phase V, Hubei Xiantao Phase I, Korea Cathode Project Phase I-I and Guizhou Phase I-II. Although the project has been fully and scientifically demonstrated, and the company has mastered the production technology and technology of implementing the project, and at the same time strengthened the work of talent reserve and training, there may still be risks such as changes in the external market environment, poor project construction management, delayed project progress, and insufficient utilization rate of project completion capacity in the process of project implementation, which will adversely affect the company’s operating performance.

　　3. Management risks brought by rapid growth

　　In recent years, with the accelerated expansion of the company’s production capacity, the transnational multi-base operation involves an increasingly huge organizational structure and a gradual extension of the management chain, and the overall management difficulty of the company is gradually increasing. If the company’s management level cannot meet the needs of the rapid expansion of the company’s scale, and the organizational model and management system are not adjusted and improved in time, the company will face the risk of losses due to improper management control.

　　4. Risk of intensified market competition

　　During the reporting period, the industrialization trend of high-nickel ternary power battery was obvious, attracting new entrants to invest in the research and development and mass production of high-nickel ternary cathode materials, gradually expanding the industry capacity supply and intensifying market competition. As a leading enterprise of high nickel ternary cathode materials, if the company fails to maintain its technical advantages, it may be affected by factors such as intensified market competition or changes in new technologies, which will have a great adverse impact on its operating performance. At the same time, the market competition of downstream power battery manufacturers is intensified. With the adjustment of subsidy policy for new energy vehicles, the pressure of cost reduction will be transmitted to the upstream cathode material industry of lithium batteries, and the company will face the risk of further intensified market competition.

　　5. Other operational risks

　　The company has the risk of market demand fluctuation in the new energy automobile industry, the risk of high balance of accounts receivable and bad debts, and the risk of substantial increase in financial expenses, which will have a certain impact on the company’s performance. Some of the company’s businesses are settled in foreign currency, and the changes in the political and economic environment at home and abroad may make the company face the risk of exchange rate fluctuations.

　　(V) Financial risks

　　During the reporting period, the company expanded the three cathode manufacturing bases in Hubei, Guizhou and South Korea and the high nickel precursor project in Linshan, Zhejiang, with a large investment scale. At the same time, the newly built production capacity and the management measures at the supply chain end have led to an increase in the demand for working capital. During the reporting period, the company’s asset-liability ratio increased, and the cash flow from operating activities was a net outflow. Although the company has established a relatively complete fund management system to strictly control the asset-liability ratio and liquidity risk, changes in the macroeconomic environment, changes in supply and demand in the capital market, changes in interest rates and other factors may cause the company to face liquidity risk and interest rate risk.

　　(VI) Industry risks

　　The company’s lithium battery ternary cathode material is mainly used in the field of power batteries for new energy vehicles. Changes in policies and technical routes related to the new energy automobile industry may have an important impact on the development of cathode materials for power batteries and lithium batteries.

　　1. Risk of market demand fluctuation in the industry

　　Despite the rapid growth of new energy vehicle market in recent years, the overall proportion of new energy vehicle production and sales in the automobile industry is still low, and factors such as purchase cost, charging time, endurance and supporting charging facilities will restrict the development of new energy vehicle industry. In the future, if the industrial policy to promote the development of new energy vehicles changes, the construction and promotion of supporting facilities fail to meet the growth of customer demand in time, and the customer’s recognition of new energy vehicle consumption is less than expected, the market demand for new energy vehicles may fluctuate greatly, which will affect the market demand of power lithium battery manufacturers for cathode materials, which will adversely affect the company’s production and operation.

　　2. The risk of changes in the technical route of the industry

　　There are technical routes such as lithium batteries and fuel batteries in the practical application of power batteries for new energy vehicles, and lithium batteries can be divided into ternary lithium batteries and lithium iron phosphate batteries. In recent years, the market share of high-nickel ternary lithium batteries in the field of power batteries for new energy vehicles (especially passenger cars) has shown a rapid upward trend. The company’s main business direction is high-nickel ternary cathode materials. However, if the mainstream technical route of power batteries for new energy vehicles changes unfavorably in the future, the market demand of ternary cathode materials will be affected to some extent. If the company fails to develop and launch new technical materials in time and effectively, it will have a significant adverse impact on the company’s competitive advantage and profitability.

　　(VII) Macro-environmental risks

　　Sudden public health events or force majeure such as earthquakes and typhoons may affect the continuous operation of the company’s business divisions. The company has formulated a business continuity plan to promote the recovery of key businesses, functions and technologies in a timely and organized manner before, during and after an emergency or destructive event, so as to ensure the sustainable and stable development of the company’s business. However, if the company’s business continuity plan cannot cope with the impact of related emergencies and force majeure, it may have an adverse impact on the company’s business, finance, operating performance and prospects. The company will pay close attention to the development trend of macro-environmental risks and actively reduce their impact on the company’s finances and operations.

　　(8) Risks related to depositary receipts

　　(9) Other major risks.

　　1. Risks related to fundraising projects

　　Although the company’s initial public offering and listing of funds to invest in the project has been fully demonstrated by the company, the demonstration is based on the current national industrial policy, industry development trend, changes in customer demand and other conditions. In the actual operation process, there may still be a risk that the market environment will suddenly change or the industry competition will intensify, resulting in the project’s income being less than expected.

　　2. Safety production and environmental protection risks

　　The company has established a relatively complete safety production management system. With the tightening of regulatory policies and the expansion of the company’s business scale, the pressure on safety and environmental protection is also increasing, and there may be the risk of safety and environmental protection accidents caused by force majeure events such as equipment failure, improper human operation and natural disasters. In addition, a small amount of waste gas, waste water and waste residue will inevitably be produced in the production process of the company’s precursor products, which may have adverse effects on the surrounding environment if it is not handled properly. In the event of a safety and environmental accident, the company will be punished by the relevant government regulatory authorities, ordered to rectify or stop production, and then the normal production and operation of the company will be affected.

　　

　　V. Main operations during the reporting period

　　During the reporting period, faced with challenges such as high raw material prices, the company provided customers with cutting-edge high-energy-density products through comprehensive competitive advantages such as technological innovation and product research and development advantages ahead of the industry, customer collaborative service advantages, engineering equipment development and production line design, maintained the first-Mover advantage and good market reputation in the industry, and promoted the company’s sustainable development strategy.

　　During the reporting period, the company achieved an operating income of 30.123 billion yuan, a year-on-year increase of 193.62%; The net profit attributable to shareholders of listed companies was 1.353 billion yuan, a year-on-year increase of 48.54%; The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 1.317 billion yuan, a year-on-year increase of 62.92%; The net cash outflow from operating activities was 241 million yuan.

VI. The Company’s Discussion and Analysis on the Company’s Future Development

　　(A) the industry pattern and trends

　　It is imperative to transform the global energy pattern into new energy sources. With the rapid development of new energy vehicles and energy storage, the market predicts that the lithium battery industry will have more than ten times the growth space in the next decade.

　　The development of the industry promotes the innovation of battery structure, and the 4680 cylindrical and Kirin batteries further innovate the power battery structure, promoting the wide application of high nickel and ultra-high nickel cathode material technology. Tesla launched 4680 large cylindrical batteries, which can increase the energy of a single battery by 5 times, increase the cruising range by 16%, and reduce the cost by 14%, and the volume is just around the corner. Contemporary Amperex Technology Co., Limited publicly released Kirin battery (CTP3.0), with the highest utilization rate of volume and space reaching 72%. At the same time, the energy density of ternary battery system can be increased to 255Wh/kg, and the vehicle life can be over 1000km. It has been mass-produced, which will further drive the demand for high-nickel and ultra-high-nickel cathode materials.

　　The company expects that the cathode materials will develop in two major directions: low cost and high energy density on the premise of meeting high safety. High nickel ternary batteries are mainly used in the high-end market of new energy vehicles. According to statistics of GGII and other institutions, the penetration rate of domestic high-nickel materials (8 series and above) reached 44.7% in 2022, and the ternary market continued the trend of high nickel, while the iterative upgrading of products continued to accelerate. With the maturity of high-nickel technology, the improvement of yield and the scale of material system, the advantages of high energy density are highlighted, the comprehensive cost of batteries is reduced, and the market share of high-nickel batteries will further increase. Products such as lithium manganese phosphate (LMFP) and sodium battery cathode materials have high performance-to-price ratio, and will be applied to low-end power battery market, energy storage market, 3C digital and small power market.

　　China’s lithium battery and material enterprises are playing a more and more important role in the global new energy industry chain. According to SNEResearch, in 2022, the global installed capacity of power batteries for new energy vehicles reached 517.9Gwh, up 71.8% year-on-year. According to SNE’s data, in 2022, among the top ten battery suppliers in the world, six companies from China were listed, with a total market share of 60.4%, up by 12 percentage points year-on-year. According to statistics of GGII and other institutions, in 2022, the global ternary cathode materials shipped about 980,000 tons, of which 550,000 tons were shipped from China, accounting for 56% of the world. In 2022, the company’s global ternary cathode market share was about 9%, up 1 percentage point year-on-year, ranking first in the world, and the market share of China enterprises will further increase in the future.

　　The overseas market demand is rapidly increasing, and the global layout has become an industry consensus. According to the data of European Automobile Manufacturers Association, in 2022, 30 European countries registered 2.589 million new energy passenger cars, up 14.6% year-on-year; According to the data of the American Automobile Innovation Alliance, in 2022, the sales volume of new energy light vehicles in the United States reached 913,000, a year-on-year increase of 41.1%. With the global emphasis on the new energy industry chain and the deepening of its cultivation, countries have also developed relevant industrial policies to cultivate local enterprises (such as the American IRA Act, etc.), and the layout of production capacity in overseas bases will help enterprises improve their ability to resist risks. The company has completed and put into production 20,000 tons/year high nickel cathode material in Korea, with a total planned production capacity of 100,000 tons/year, serving mainstream batteries and end customers such as Japan, South Korea, Europe and America.

　　(II) Company development strategy

　　In 2022, the company completed the transformation to a comprehensive supplier of cathode materials covering the whole market. The high-nickel ternary, lithium manganese phosphate and sodium battery series materials will achieve comprehensive coverage of the high-end, low-end power battery market, energy storage market, 3C digital and small power market. The company is positioned as the operator of the lithium battery new energy material industry, focusing on high-nickel cathode materials, and at the same time laying out lithium manganese iron phosphate and sodium battery cathode materials to build a competitive circular industrial chain around the battery triangle. The company focuses on the main business of cathode materials and carries out comprehensive innovation around the main business, including product innovation, process and equipment innovation, supply chain innovation and management innovation, so as to establish industry barriers with competitors; On the other hand, through strategic cooperation and capital cooperation, we can establish business synergy, innovation synergy and strategic synergy with upstream and downstream, so as to improve the efficiency of the whole industrial chain, reduce costs, build a competitive industrial chain and achieve a win-win situation for partners in the industrial chain.

　　In 2023, the company will accelerate the strategic layout of globalization, which is not only reflected in the industrial layout, but also in the overall spatial layout. In the future, the company will explore other overseas regions except China and South Korea. From the global market, the penetration rate of domestic new energy vehicles is close to 30% in 2022, which is significantly higher than other markets. With the upgrading of domestic battery technology and consumption level, the market share of high-nickel cathode materials in the domestic middle and high-end market will be further improved. At present, the company’s high-nickel products are sold to overseas terminal markets through major battery customers. In 2022, the penetration rate of new energy vehicles in the European market will exceed 20%, and the penetration rate of new energy vehicles in the US market will be less than 10%. Overseas markets have great room for growth, and the company’s Korean production base is scarce. The company will accelerate the expansion of this base to better serve international customers.

　　The company adheres to the development mission of developing new energy industry, improving the living environment of human beings, creating a bright future for the company and employees, and repaying the society, with the vision of establishing a new energy industry cluster with first-class innovation ability and high commercial civilization.

　　(3) Business plan

　　The new energy industry has maintained rapid growth, and it is expected that there will still be more than ten times the growth space in the future. In 2022, the installed capacity of lithium batteries for new energy vehicles in the world is 517GWh. With the increase of demand for new energy vehicles and the outbreak of energy storage market, it is estimated that the installed capacity of lithium batteries will exceed 6000GWh in 2030, which has more than 10 times the growth space compared with 2022.

　　At present, the penetration rate of electrification in Europe and America is low, and there are significant structural development opportunities in overseas markets. In 2022, the penetration rate of new energy vehicles in 30 European countries was 22.9%; The penetration rate of new energy vehicles in America is 6.7%. It is an inevitable trend for European and American countries to transform their energy structure into new energy sources and improve the penetration rate of electric vehicles. At present, the overall European and American markets have greater opportunities and the installed capacity of lithium batteries has increased at a higher rate.

　　The competition pattern of cathode material industry will further move towards concentration from dispersion. From 2018 to 2022, the market share of China ternary cathode CR5 increased from 48.2% to 59%. In the future, as the product technology is finalized and large-scale leading enterprises continue to deepen and expand their competitive advantages in the market and products, their share will be further concentrated.

　　(1) Upgrade from a high-nickel faucet to a platform-based and group-based comprehensive supplier of cathode materials, and promote comprehensive coverage of market applications.

　　In July, 2022, the company held a strategic conference to announce its transformation from a high-nickel leader to a platform and group-based comprehensive supplier of cathode materials. Its products cover high-nickel materials, lithium ferromanganese and sodium battery materials, and its application fields cover high, medium and low-end power, small power, energy storage and digital market, which is the only and fastest-growing cathode material company in the industry.

　　In 2023, the company will further maintain the leading edge of 8 series high nickel products, actively expand new customers and increase market share. At the same time, the company will promote the mass production of 9 series ultra-high nickel products with higher energy density, complete the development of high-voltage high-nickel materials and NCA product lines, create a comprehensive high-nickel product sequence, and further enhance the leading edge of products.

　　Lithium ferromanganese is the next generation upgraded product of Ferrous lithium phosphate, which has the advantages of higher energy density and lower cost. With the upgrading of product technology and the expansion of production capacity, lithium ferromanganese is expected to replace Ferrous lithium phosphate’s share in the power battery market in the future. Last year, the company shipped nearly 1000 tons of ferromanganese lithium, ranking first in sales. In 2023, the company will further integrate internal and external resources to promote the mass production of lithium ferromanganese products.

　　In terms of sodium battery cathode materials, the company has comprehensively laid out three technical directions: layered oxide, Prussian blue/white and polyanion, and has completed sample submission verification with dozens of downstream customers. The comprehensive development capability and mass production progress are at the leading level in the industry. The company has achieved a number of technical breakthroughs, such as low residual alkali, high pressure compaction, long cycle, low gas production and low cost, which have been successfully applied to finalized products. It is expected to achieve mass production in 2023.

　　(2) Strengthen the global layout, and accelerate the overseas production capacity and international customers.

　　In 2022, the company built a capacity of 20,000 tons/year of high nickel cathode materials in Chungju, South Korea. The South Korean base is the first factory built and put into production by China cathode enterprises overseas, which is a crucial step in the global layout of Rongbai, and truly opens the process of capacity globalization in the anode industry of Rongbai and even China. The base will continue to expand to 100,000 tons, and the production line covers all products of high nickel, ultra-high nickel NCM, NCA and NCMA.

　　The completion and commissioning of the Korean base will help Rongbai to better serve overseas customers. Rongbai will rely on the Korean base to be closer to the needs of international customers in technology research and development, manufacturing and business communication. The release of the production capacity of the Korean factory will promote the strategic interaction between Rongbai and Japanese and Korean customers, radiate to the markets of Europe, the United States and Southeast Asia, serve international customers and overseas factories of China customers, and truly embrace customers and serve the world. Overseas production capacity also helps companies reduce supply chain risks, ensure the sustainability of the supply chain, provide diversified products and supply chain solutions, and create value for customers.

　　The Korean base will help the company to establish an overseas operation system and realize a comprehensive international transformation. The smooth operation of the Korean base will help Rongbai to further promote the internationalization of its operation, supply chain, platform and team. The company is preparing for the North American office and will expand in Europe in the future.

　　(3) Firmly implement the new integration strategy through industrial investment.

　　During the reporting period, the company formally laid out the field of ferromanganese lithium through the acquisition of Tianjin Schollander and its subsidiaries. Schollander has a number of stable customers in the electric two-wheeled vehicle market, and has conducted in-depth material research and development cooperation with many well-known battery manufacturers at home and abroad in the four-wheeled power battery market, accumulating a deep customer base. This acquisition will help the company expand the cathode material market, enrich the product structure, and achieve full coverage of "high, medium and low-end" materials. The company will also continue to consolidate the front-end resources through investment mergers and acquisitions, and do a good job in the next generation of technology and technology reserves, and promote the comprehensive competitiveness of phosphate products such as ferromanganese and lithium.

　　During the reporting period, the company invested in Liqin resources through Hubei Rongbai Battery Triangle No.1 Equity Investment Fund Partnership (Limited Partnership), and signed a Long Order Purchase Agreement with it. The agreement stipulated that Liqin resources would be the core supplier of nickel-cobalt wet-process intermediate (MHP) and nickel sulfate, and it would steadily supply 20% of the total annual shipments of nickel-cobalt products (MHP or nickel sulfate and cobalt sulfate) to Rongbai Technology every year. At the same time, Liqin resources are preferentially supplied to Rongbai Technology when there is a surplus of 20% battery nickel-cobalt products beyond the long range. The implementation of the long-term purchase agreement will help the company improve its main business operation ability.

　　The company will firmly implement the new integration strategy, analyze the best supply chain path through the in-depth grasp of the whole industrial chain, and then establish a long-term strategic cooperative relationship by investing in the upstream and downstream of the industrial chain to create the lowest-cost supply chain and realize stable operation and stable profit.

　　The company will continue to focus on the global development progress of nickel, lithium and other resources, select projects with cost advantages, and cooperate in the form of equity participation to increase the acquisition of low-priced preferential resources. On the one hand, it can form effective synergy with existing industries, on the other hand, the company can further share the growth of the whole industry through industrial investment.

　　(4) Continue cutting-edge R&D and mass production and improve the intellectual property protection system.

　　Layout cutting-edge technology, develop high-nickel cathode materials suitable for all-solid-state batteries, and break through the higher-capacity technology of ultra-high nickel. Continue to increase R&D investment and R&D personnel recruitment to enhance comprehensive technical strength. This year, the company will start the construction of Hubei New Energy Technology Research Institute, build a Korean research institute and build a transnational R&D institution. In terms of intellectual property rights, it is planned to complete more than 200 patent applications and more than 10 PCT patents in 23 years, and promote the implementation of the intellectual property management system.

　　(5) deepen the reform of organizational construction in an all-round way and promote the implementation of the "three systems" structure.

　　In order to better cooperate with the implementation of the new integration strategy, the company began to carry out platform and group reform in 2022, established and strengthened the enterprise management center, and promoted the overall coordinated operation of the company through the PMO (Project Management Office) process system. In 2023, it will promote the reform of the three organizational systems and build a complete system for the development of cadres and talents. On the basis of optimizing the existing business department system, we will deepen the organizational reform of the three systems of market, R&D and delivery, and establish a professional-oriented business organization and operation mechanism. At the same time, strengthening the construction of cadres, establishing a matching four-level partner incentive mechanism, and creating a competitive talent system by attracting top talents from all over the world will promote the company to further realize the integrated operation of the whole company and achieve the market goals more agile.