标签： 花坊上海后花园论坛

Rumors about Xu Jiayin finally settled. On the evening of September 28, China Evergrande issued an announcement saying that the company had received a notice from relevant departments that Xu Jiayin, the executive director and chairperson of the board of directors of the company, had been taken compulsory measures according to law for suspected illegal crimes.

On the morning of the same day, China Evergrande, Hengda Automobile, and Hengda Property, three Hengda companies, announced that the company’s shares had temporarily stopped trading at 9 a.m., and the three Hengda companies had resumed trading shortly thereafter.

The three companies collectively suspended their trading, which made the market speculate that something big might happen to Evergrande. Unexpectedly, the relevant rumors about Xu Jiayin’s situation came true.

Many industry insiders believe that, as the head of Evergrande, Xu Jiayin was forced to take measures, which will affect the progress of the workout.

China Evergrande announced that Xu Jiayin, the executive director and chairperson of the board of directors of the company, has been taken compulsory measures according to law on suspicion of illegal crimes. Photo/IC photo

Lawyers say this could be just the beginning

Since September 23, news of Xu Jiayin’s situation has been circulating in the public. On September 28, China Evergrande, Evergrande Automobile and Evergrande Property suspended trading on the Hong Kong Stock Exchange, which caused many discussions.

Hengda did not respond to the reason why Xu Jiayin was taken coercive measures for suspected crimes.

Wang Yushen, director of Beijing Jinsheng Law Firm, analyzed that from the announcement, Xu Jiayin’s suspected crime has been "real" and coercive measures have been taken. This shows that the public security organs have relatively sufficient evidence of Xu Jiayin’s suspected crime, otherwise they will not take coercive measures against him.

Wang Yuchen further said that in the past, Hengda executives were investigated and now Xu Jiayin has been taken coercive measures, which all shows that Hengda has now entered a period of great crisis. Xu Jiayin’s coercive measures are probably just the beginning, and there may be a series of big moves in the future.

On the evening of September 16, the Nanshan Branch of Shenzhen Public Security Bureau announced that recently, the public security organs have taken criminal compulsory measures against Du and other suspected criminals of Evergrande Financial Wealth Management (Shenzhen) Co., Ltd. If investors need to report the case, they can register the case.

It is understood that on August 31 this year, Hengda Wealth official Weibo announced that because the company’s asset disposal progress was less than expected and no asset disposal funds were obtained, the company was unable to carry out this month’s redemption, and subsequent redemption arrangements will be announced separately.

For the Xu Jiayin incident, in the opinion of Yan Yuejin, Chief Research Officer of E-House Research Institute, the announcement issued by Evergrande this time confirms the fact that Evergrande’s debt problem is not a simple financial and economic dispute, but involves a large financial default and illegal operation. From this perspective alone, the anti-corruption work of real estate enterprises began with the incident of Hengda’s accountability, and other real estate enterprises have no chance of getting lucky.

Evergrande workout or face variables

Xu Jiayin was forced to take measures, the ongoing Hengda workout, or face variables.

Zhang Hongwei, founder of Mirror Consulting, said that without a decision-maker, Evergrande’s workout is expected to be interrupted for a period of time, and things will be delayed. Relevant departments are expected to take measures soon, such as a large enterprise hosting Evergrande.

Wang Yuchen believes that Xu Jiayin’s coercive measures may affect Evergrande’s workout. After all, Xu Jiayin, as the chairperson of Evergrande’s board of directors, has a significant impact on Evergrande’s future direction and the future development of Evergrande.

In fact, before this, Hengda workout has seen bad news.

On September 24, China Evergrande issued an update on overseas workout information, saying that in view of the investigation of Evergrande Real Estate, the current situation cannot meet the eligibility for the issuance of new notes. This means that Evergrande’s workout may face variables.

The announcement shows that all new bills to be issued under the proposed restructuring must comply with the "Trial Measures for the Administration of Overseas Issuance of Securities and Listing of Domestic Enterprises" issued by the China Securities Regulatory Commission and the "Measures for the Administration of the Examination and Registration of Medium and Long-term Foreign Debt of Enterprises" issued by the National Development and Reform Commission according to their applicable circumstances. China Evergrande must prove that it meets the relevant requirements. In view of the above reasons, China Evergrande’s current situation cannot meet the eligibility for the issuance of new bills.

Previously on August 16, Hengda Real Estate announced in the Shenzhen Stock Exchange that it had received the "Notice of Filing" issued by the China Securities Supervision Commission, because the company was suspected of information disclosure violations, according to the "Securities Law of the People’s Republic of China" and the "Administrative Punishment Law of the People’s Republic of China" and other laws and regulations, the China Securities Supervision Commission decided to file a case against Hengda Real Estate.

The issuance of new notes is an important part of China Evergrande’s workout plan. In the March workout plan this year, Evergrande Agreement Arrangement Plan 1 stated that the agreement arrangement creditors can obtain new notes at a conversion ratio of 1:1 of their recoverable amount. The new notes have a term of 10-12 years and will be repaid over time. Under Option 2, the agreement arrangement creditors can choose to convert their recoverable amount into: 5-9 years New Notes to be issued by the company.

In addition, under the Jingcheng Arrangement, creditors will receive five new notes issued by Jingcheng with a term of 4-8 years for a total principal amount of $6.50 billion. Under the Space-based Arrangement, creditors will receive four new notes issued by Space-based with a term of 5-8 years for a total principal amount of $800 million.

In addition to the blockage of new note issuance, China Evergrande’s overseas workout-related meetings have also been postponed again. According to China Evergrande’s announcement released on September 22, China Evergrande’s sales since March 22 this year have not been as expected. Based on the current situation of China Evergrande and its consultations with its advisors and creditors, China Evergrande believes that it is necessary to re-examine the terms of the proposed restructuring to match its objective situation and creditors’ demands. Therefore, the relevant agreement and arrangement meetings on the proposed restructuring originally scheduled for September 25 and September 26 will not be held. This is the third postponement.

The market is also concerned about whether Xu Jiayin’s coercive measures will affect "Baojiaolou"? Wang Yuchen said that Evergrande has many subsidiaries all over the country, and each company is relatively independent. Therefore, for buyers who bought Hengda houses but encountered unfinished business, as well as investors who invested in Evergrande, they need to pay close attention to the next direction of Evergrande, but do not worry too much. Now that the state has taken action, and the "Baojiaolou" involving so many ordinary people, there should eventually be a corresponding solution.

Duan Wenping, reporter of Beijing News

Editor, Yang Juanjuan, Proofreader, Yang Xuli

　　　 At least 64 spectators were injured and many suffered fractures when seats collapsed at the Chongqing station of Faye Wong’s tour concert held at the Chongqing Olympic Sports Center at about 8:10 p.m. on the 17th. The concert was temporarily cancelled.

　　According to Xinhua News Agency, the reporter saw at the concert site that the collapsed seats were located at the back of the stage. These seats were placed on metal structural brackets and were up to about 1.5 meters above the ground. After the seats collapsed, the reporter saw some injured spectators being escorted out of the scene. Several people suffered foot injuries and some suffered bleeding head injuries and were sent to the hospital for treatment. At present, the audience at the scene has been basically evacuated. The concert has been rescheduled to 20:00 on the 19th.

– Live

Collapse or cause the audience to stand up and sit down as a whole

　　Wei Jun, the audience at the scene, introduced to reporters on the evening of the 17th that at 7 o’clock that night, Wei Jun and his friends and a group of 9 people entered the venue. Wei Jun introduced that the concert stage was built on the large lawn in the gymnasium of the Chongqing Olympic Sports Center, and the audience seats were also on the lawn. They were supported by scaffolds, covered with wooden boards, and then densely lined with plastic chairs, about 1 meter high from the ground.

　　Wei Jun introduced that the concert started at 8 o’clock, and around 8:10, Faye Wang was about to enter. At this time, most of the audience stood up excitedly and cheered Faye Wang to enter the venue. Wei Jun said that the scaffolding of the seats may have been caused by the audience standing up and sitting down as a whole, and then scattered. He saw that the E and F districts collapsed one after another, and the G3 district where he was located also collapsed. The area of the collapse site was "several hundred square meters."

　　His knee was caught between the scaffolds, causing the skin to fall off.

　　At about 10 p.m. on the 17th, reporters rushed to the Olympic Sports Center to see that the audience here had been evacuated. Security cordoned off the scene.

– Rescue

64 injured, 6 fractured

　　The First Affiliated Hospital of Chongqing Medical University is 300 meters away from the Olympic Sports Center. On the evening of the 17th, Ren Guosheng, president of the hospital, introduced that after the accident, the hospital received an emergency call and dispatched an ambulance to the scene to rescue the wounded.

　　Ren Guosheng introduced that the hospital has treated a total of 64 wounded. Forty of the wounded were photographed and three were examined by CT. Ren Guosheng introduced that the current examination results are 5 fractures and 1 suspected fracture. There is also a pregnant woman whose fetus has been protected by the hospital. The examination found that the pregnant woman’s fetus is fine, but her body is slightly bruised. Ren Guosheng introduced that most of the injured are minor injuries, and there are no serious injuries.

　　As of 11:30 p.m. on the 17th, some of the slightly injured were registered at the hospital and left on their own. Wei Jun said they initially saw the concert organizers at the hospital site. But they later disappeared. The organizers have not yet said anything about the aftermath of the injured.

　　It is reported that the concert organizing committee said that the concert will be rescheduled to 20:00 on the 19th. Wei Jun said that they will still go to see it. Another injured person, Liu Dandan, said that she will not go to see it again and hopes that the organizers will compensate the injured as soon as possible.

– Respond

Diva Weibo apologized, the concert was temporarily cancelled

　　　 I hope everyone is fine. We will continue tomorrow and the day after tomorrow. Sorry for the shock and inconvenience caused to everyone. – Faye Wong

　　At present, the conference is still dealing with the evacuation of the audience and other safety issues. We only know from the staff that a small number of spectators were sprained and bruised during the evacuation. Fortunately, no more serious accidents were caused. After waiting for the safe evacuation of the audience, all units will immediately hold a meeting to study, and the organizers will be strictly required to seriously deal with the safety of the seats in the audience… As for whether the concert can be held as scheduled tomorrow, it still needs to be negotiated by multiple units. – Faye Wong’s agent Chen Jiaying

　　At about 8:00 on the 17th, the edge of the seats in the A3 area of the city Olympic Sports Center’s Wang Fei concert site slipped due to the displacement of the cushions, causing 11 people to suffer minor leg injuries. At present, all the audience has been evacuated, the injured have been sent to the hospital for treatment, and the accident investigation and handling are in progress. In addition, the organizers said that today’s performance was cancelled and rescheduled to 8:00 pm on the 19th. Audiences can refund their tickets at the 6th floor of the Marriott Hotel. – Information Office of the Chongqing Municipal People’s Government

Next Page: More Live Pictures

[EV Vision Technology Comparison] Nowadays, when vehicle electrification has become the mainstream of development, diesel locomotives seem to gradually withdraw from the rhythm of the historical stage. However, the reality proves that the models with internal combustion engines will not disappear for a long time to come, but will have certain advantages in some aspects. However, this species that does not suffer from "mileage anxiety" will make car owners suffer from another disease-"fuel consumption anxiety". Therefore, on the issue of how to treat it, plug-in hybrid models have become this good medicine.

Before, we made a comparison between BYD DM-i and Great Wall Lemon DHT (extended reading: BYD DM-i or Great Wall Lemon DHT, who represents the peak of domestic hybrid technology? ), which proves that domestic hybrid technology is gradually rising and has the strength to compete with foreign hybrid technology. Of course, this technical field in China is more than these two. Looking at the industry, basically most OEMs have started to develop their own latest hybrid technology, and among them, Chery’s Kunpeng DHT has become another new hot spot after the first two. If you look closely, you may find that compared with the hybrid technology of the Great Wall, the word DHT appears behind Chery’s technology. What is the difference between it and lemon DHT?

What does DHT mean?

If you answer what is the most obvious difference between Kun Peng DHT and lemon DHT, there is actually a difference in word meaning.

The DHT of great wall lemon is calledDedicated Hybrid Technology, the Chinese translation isSpecial technology for hybrid power, is a complete hybrid technical scheme, including engine, transmission, drive axle, battery and other components.

DHT of Great Wall Lemon

Chery Kunpeng’s DHT is calledDedicated Hybrid Transmission, that isSpecial gearbox for hybrid powerBased on the traditional fuel vehicle gearbox, some electrified components are added to realize hybrid power technology.

DHT of Chery Kunpeng

So it can be seen that there are some differences in the technical route between the two. Please look down.

Comparison of hybrid architectures

Dual-motor+engine combination may be the trend of hybrid technology development now. Take DHT of Great Wall Lemon as an example, it is a powerful three-engine/four-engine power system composed of a 1.5L/1.5T hybrid special engine, a highly integrated dual-motor hybrid gearbox and a 135kW three-in-one two-gear electric drive rear axle. Under this system, three different specifications of power (PHEV/HEV) assemblies suitable for Class A, Class B and Class C have been successively introduced. In addition, under the PHEV architecture, there is also a "1.5T +DHT130+P4" four-wheel drive powertrain, which corresponds to different levels of products to meet the diversified choices of users.

Specifically, the lemon hybrid DHT consists of a high-efficiency hybrid special engine, a highly integrated dual-motor hybrid gearbox and a 135kW three-in-one two-speed electric drive rear axle, forming a powerful three-engine/four-engine power system, which brings super power. The maximum power of HEV two-drive system is 180kW, and the total power of PHEV two-drive system can reach 240kW. The front and rear axle motors with PHEV+P4 structure can output power at the same time, and the maximum system total power can reach 320kW. The intelligent four-wheel drive system of this architecture has strong climbing ability, such as achieving 60%-65% maximum climbing degree when dry asphalt pavement and 15%-18% maximum climbing degree when snow.

High fuel efficiency hybrid special engine

In terms of transmission, Great Wall Lemon DHT is similar to Honda i-MMD, except that it has two gears when the engine is driven, while the latter has only one gear when the engine is driven. By selecting the gear, it can give full play to the performance advantages of the engine. The system also adopts dual-motor series-parallel topology, which can realize EV, series connection, parallel connection, energy recovery and other working modes, and achieve a perfect balance between power and fuel consumption in various driving scenarios. As for the battery, the Great Wall Lemon DHT architecture is equipped with the world’s largest capacity and high-efficiency hybrid battery, which has the highest performance in the industry with a pure battery life of 200km. With CTP(Cell to Pack) technology, the energy density of the battery pack reaches 160Wh/kg, and it supports 11kW AC slow charging and DC fast charging.

High integration hybrid DHT transmission

Although there is not much information about Chery Kunpeng DHT, we can still see the clue from the known information.

From this exploded view, we can roughly see the structure of the whole system. Chery Kunpeng DHT also uses the combination of engine and dual motors, but here I want to knock on a blackboard to draw a key point. Different from the mainstream development, Kunpeng DHT is the only hybrid architecture driven by dual motors in China brand at present. An output mode mainly driven by electricity can be provided. In this hybrid system, the motor bears the main driving responsibility, and the engine can supply energy for the power battery under low load conditions. Therefore, two relatively low-power drive motors are equipped with FIO fixed-point injection oil-cooled motor technology and TEM dual-motor power distribution technology developed by Chery, in order to replace the effect of a single high-power drive motor.

In terms of data, the maximum power output torque of Kunpeng DHT can reach 510N·m, and the whole box torque density is 35 N m/kg, which can match large and medium-sized cars and SUV models, and can realize nine high-efficiency working modes such as single/double motor drive, extended range, parallel connection, direct engine drive, single/double motor braking energy recovery and driving/parking charging. Kun Peng DHT adopts TEM ultra-efficient dual-motor power distribution technology, which can choose the best electric drive source and gear according to the load size to improve the driving efficiency, thus creating a smooth driving experience and more efficient power distribution. The maximum transmission efficiency is more than 97.6%, the average efficiency of electric drive in NEDC working condition is more than 90%, the peak efficiency of flat wire motor is more than 97%, the power is 6.0kW/kg, and the fuel saving rate in low power mode is more than 50%.

In addition, Kunpeng DHT has 11 combined gears (seemingly the largest in the world? ）。 However, it should be noted here that the gear position of Kunpeng DHT is not limited to these 11 combinations. Due to the existence of dual motors and the provision of a 3-speed transmission device in the engine direct drive mode. You know, most of the mainstream technologies now adopt a direct clutch structure, that is, the generator can directly drive the wheels. However, when they are all direct-drive output, they all have only one gear, which limits the highest efficiency working range (the difference between ordinary bicycles and variable-speed bicycles), so Kunpeng DHT is equipped with three gears on the engine to broaden the engine driving performance. First of all, the first speed ratio is relatively large, which is mainly used for starting and accelerating. The third speed ratio is very small, mainly to ensure low engine speed, low fuel consumption and noise reduction when driving at high speed. Among them, the second speed ratio mainly takes into account the shift of the first gear and the third gear to ensure the smoothness of the shift, and at the same time takes into account the fuel consumption at the middle and low speeds.

It is worth mentioning that these permutations and combinations can achieve dozens of gear combinations, but the manufacturer has chosen 11 most suitable gears. In different working scenarios, the built-in control system of Kunpeng DHT calculates the optimal working gear in real time, and cooperates with Chery’s FIO fixed-point injection oil-cooled motor technology, TEM ultra-efficient dual-motor power distribution technology and ultra-smooth TSD dual-shaft drive design to achieve the balance of power, ride comfort and economy.

Comparison of working principles

There are four working modes of Great Wall Lemon DHT, including pure electric drive mode, series mode, first gear direct drive mode (low speed cruise), first gear direct drive mode (performance direct drive), second gear direct drive mode (high speed cruise) and energy recovery mode.

The important core of overall fuel saving is to make the engine work in an efficient working point area. When driving at low speed in general urban areas, lemon DHT will switch between EV mode and series mode, and maintain the engine in the most efficient area. When driving in suburbs and viaducts, the series mode will still be adopted at medium and low speed, but at medium and high speed, the engine will start to intervene, and when encountering heavy load demand, the engine+parallel drive mode will be adopted, which not only maintains high efficiency, but also provides sufficient response for power. Finally, at high speed, the engine direct-drive working point will directly fall in the high-efficiency area, or when the power is enough, EV battery life will be adopted to reduce fuel consumption.

As can be seen from the published data, the working mode of Chery Kunpeng DHT can be said to be another way.

First of all, the front part will be equipped with a small displacement (1.5T) inverted engine. Why did you choose this engine type? First of all, the intake manifold of the inverted engine is shorter, and the air intake is more direct and smooth. In addition, the air does not need to be heated above the engine to reduce the air density and oxygen content, so the engine burns more fully, the thermal efficiency is higher than that of the upright engine, and the fuel consumption is correspondingly reduced. In addition, this engine has a relatively compact volume to reduce the cabin space and lay the foundation for weight reduction because the intake manifold and exhaust manifold do not need to be wound up and down from the engine for half a turn.

The dual-motor part of the predecessor is composed of two low-power driving motors. Why choose two low-power drive motors but not one high-power motor directly? The reason for this is that if a high-power motor is used, the efficiency of the motor will be greatly reduced at first when it starts at low speed and runs at high speed, and when it enters the power loss state, the engine will start to intervene in power generation, and the fuel consumption will inevitably increase. Therefore, using two low-power motors can make the whole hybrid system work in a high-efficiency area with the same comprehensive performance. After that, it is combined with the previously mentioned Kunpeng DHT gearbox to achieve the purpose of fuel saving. In addition, after adopting the dual-motor scheme in manufacturing cost, the dependence on high-precision gears is relatively reduced. After all, this aspect can only rely on imports for the time being.

Who are the models under DHT technology?

WEY macchiato

On April 15th this year, Great Wall Motor conducted an online lemon hybrid DHT vehicle test, which was the first time to be tested with a real vehicle. The tested model was WEY Macchiato, which will be listed soon. This model is equipped with the latest lemon hybrid DHT technology of the Great Wall, and is also equipped with the combined configuration of 1.5L Atkinson cycle engine and motor. The maximum horsepower of the engine is 102kW, the maximum power of the motor is 154kW, and the combined maximum power is 190kW. It is worth mentioning that the fuel consumption per 100 kilometers is only 4.7L and the maximum cruising range can reach 1100km. The subsequent PHEV plug-in hybrid vehicle has a pure electric cruising range of 110km.

Tiggo 8 PLUS PHEV

Tiggo 8 PLUS PHEV is Chery’s first model equipped with DHT hybrid system, which adopts a three-motor four-wheel drive hybrid system with 1.5T turbocharged engine+front double motor+rear single motor. Among them, the maximum power of the engine is 125kW, the peak torque is 252N·m, the official 0-100km/h acceleration is only 4.9 seconds, and the comprehensive fuel consumption is only 1.3L/100km.

EV vision view:Although the published information is very limited, through the comparison of these two technologies, we can see that their innovation in hybrid technology is enough to compete with hybrid power enterprises, which not only opens the door to the development of domestic hybrid technology, but also makes China brand occupy a place in the world. At present, the latest "Roadmap 2.0 for Energy-saving and New Energy Vehicles" issued by China Automotive Engineering Society clearly puts forward that traditional vehicles should be fully "mixed" in the next 15 years. By 2035, among the non-new energy vehicles that still occupy half of the market, hybrid power will become the leading force. Therefore, the automobile industry has developed in parallel with many technical routes. In order to realize the low-carbon of energy-saving vehicles, the automobile factory must establish a new hybrid technical route. Therefore, both Kunpeng DHT and Lemon DHT will become the new trump cards representing the development of hybrid technology in China. In the future, EV Vision will dynamically evaluate two vehicles based on its own hybrid technology, so stay tuned!