Within 400,000 yuan before the subsidy, the ideal intellectual ONE was officially unveiled.

  [car home New Car Launch] On the evening of October 18th, Beijing time, (|) was officially unveiled.The official announced that the price before the subsidy was less than 400,000 yuan.The NEDC car is positioned as a medium-sized and large-scale extended-range SUV, and its whole vehicle will be built with a four-wheel drive electric platform, and through the efficient cooperation of a large-capacity battery pack and a high-power extended-range power generation system, it will provide a comprehensive cruising range of more than 700 kilometers, and the cruising range in urban conditions will exceed 1,000 kilometers. In addition, its first batch of production cars were delivered in the fourth quarter of 2019.

Home of the car

Home of the car

◆ The most noteworthy points about the ideal intelligent ONE:

1. The price before subsidy is less than 400,000 yuan, and the reservation will be opened during the Shanghai Auto Show in April 2019 and officially delivered in the fourth quarter of 2019;
2, very rich configuration, the four-screen system in the car brings a powerful intelligent experience;
3. 6-seat /7-seat layout, with independent seats in the second row;
4. Only one model is available;
5. Development based on pure tram platform.Which is equipped with a large-capacity battery pack and combined with a high-power extended-range power generation system for power supply;
6、The cruising range of comprehensive working conditions reaches 700km, and the cruising range of urban working conditions reaches 1000km;;


● New car features: innovative design.

Home of the car

  In terms of appearance, the front face of the new car adopts a large-size front grille and the interior adopts a mesh structure, which makes the overall visual effect similar to that of chain mail worn by medieval knights, and it is expected to reflect a variety of light and shadow effects in the sun. At the same time, the left and right sides of the car adopt long headlight groups, with large air intakes on both sides and penetrating trapezoidal air intakes below, which increases the overall sports atmosphere of the car.

Home of the car

Home of the car

  From the side of the car body, the new car adopts a relatively straight roof line, so it has a stretching visual effect to a certain extent, leaving a slender feeling. At the same time, the flat roof design can also provide sufficient head space to a certain extent, making the passengers in the car more comfortable. In addition, the front and rear wheel eyebrows of the new car are slightly protruding, which faintly reveals a bit of muscle texture, making the car look very dynamic. In terms of the tail, the new car uses a penetrating taillight group with a rounded rectangular license plate frame, which makes the whole look more layered.

Home of the car

  As for the interior, judging from the official interior map released before, the center console has a straight line with two colors: upper black and lower brown, and three large-size screens are placed side by side on it, which are full LCD instruments and two multimedia display screens from left to right, which are full of futuristic and technological sense. At the same time, the new car uses a three-spoke multi-function steering wheel, and a fourth screen is designed in front of the handlebar. Among them, the instrument screen, central control screen, passenger entertainment screen and vehicle control screen are 12.3 inches, 16.2 inches, 12.3 inches and 10.1 inches respectively, and they can work safely and stably at the temperature of -30℃~85℃.

Home of the car

  Intelligentization is a point that Ideal Intelligence pays great attention to when building this car. The four-screen interactive system mentioned above brings a strong sense of science and technology to the senses. The new car will also be equipped with intelligent voice control system, OTA upgrade of the whole vehicle, 4G network and applications and services that can be expanded indefinitely.

  After this information and control system, Ideal Smart ONE is equipped with dual-chip and dual-system architecture, and adopts Qualcomm Xiaolong 820A car-level chip with Android Automotive system to provide rich functions and applications. J6 chip of Texas Instruments is matched with Linux system to ensure stability and security.

Home of the car

Home of the car

Home of the car

Home of the car

"Click to view a larger image"

  The length, width and height of the new car body are 5020/1960/1760mm and the wheelbase is 2935mm respectively. It is available in 6-seat and 7-seat versions with 2+2+2 and 2+3+2 seat layouts respectively. The second row of the 6-seat version uses two independent seats, equipped with double handrails and comfortable headrest, and supports large angle adjustment. The first row of seats in the new car comes standard with seat ventilation, while the first two rows come standard with seat heating. In addition, the new car will come standard with steering wheel heating. As can be seen from the above picture, the standard configuration of production models will be very rich.

Home of the car

  It is understood that this SUV is positioned as a "smart electric vehicle without mileage anxiety" and is developed based on a pure tram platform. Different from ordinary pure electric vehicles, it is equipped with a large-capacity battery pack (battery capacity 40.6 kWh, available power 37.2 kWh) and combined with a high-power extended-range power generation system (a 1.2T three-cylinder engine), which can fundamentally eliminate the mileage anxiety of users when using pure electric vehicles. In addition, compared with our common plug-in hybrid vehicles, the driving experience retains the smoothness and quietness of pure electric vehicles because the range extender does not output power.

Home of the car

Home of the car

  In addition, the upgrade of the electronic system and electronic control system of the whole vehicle through OTA makes the self-iteration of the future vehicles possible, which is also the unique advantage of such "smart electric vehicles" compared with traditional fuel vehicles and plug-in hybrid vehicles. It is reported that the maximum cruising range of the brand-new SUV model of Che He Jia will exceed 1000 kilometers, and the cruising range of NEDC will exceed 700 kilometers. It is worth mentioning that the new car has a pure battery life of 180 kilometers.

Home of the car

  This car has three forms of energy supply: fast charging, slow charging and refueling power generation (it takes 30 minutes for 40kW DC to charge 0-80% quickly, and 6 hours for household 7kW to charge 0-100% slowly). The thermal management system can make full use of the residual heat of the range extender. In the environment of -10℃, the cruising range attenuation of the ideal intelligent ONE can be controlled at 5%, which is better than the 30% attenuation of some electric vehicles. In the environment of -20℃, the cruising range of the ideal intelligent ONE is only 7%, which makes it still have good cruising ability in winter.

Home of the car

Home of the car

Home of the car

  The power used by this car has always been a front and rear dual-drive four-wheel drive system. The comprehensive power of the motor is 326 HP and the peak torque is 530 Nm. This power system allows the new car to have an acceleration time of 0-100km/h of 6.5 seconds.

Home of the car

  Regarding the advanced assisted driving system, Li Xiang said in the dialogue that the integrated control algorithm developed by Chehe Jia for China road conditions has completed more than 400,000 kilometers of road tests, and all departments will be equipped with the LEVEL 2 advanced assisted driving system as standard, which will be done by Yihang, a startup company invested and incubated by Chehe Jia. It is reported that this system is targeted at Tesla’s Autopilot, and its suppliers include Mobileye and Bosch. In the future, the autonomous driving of L4 will be developed by the car and home owned team. At the same time, Chehejia and Didi formed a joint venture company to accumulate the operational ability of travel services.

● About cars and homes and ideals and wisdom.

Home of the car

Home of the car

"The one standing in the middle with pictures is Li Xiang"

  Chehejia was founded in July 2015. It is a new energy automobile company founded by Li Xiang, the founder of car home. The company hopes to create a brand-new business model of electric vehicles through independent research and development, independent production and independent sales and services.

Home of the car

"Ideal Intellectual Brand"

  As a brand of Chehejia-Ideality Zhizao, its English brand name is "Leading Idea", and the brand logo "Li" is inspired by the initials of the English name Leading Idea.

● Competitors/for the crowd:

Home of the car

  Because this model is special, there are no other brands on the market to launch similar models to compete with it. As for the car Ideal Smart ONE, although the car is positioned as a medium-sized and large-scale extended-range SUV, and its body length once exceeded 5 meters, because this level of market is generally occupied by joint venture brands, it will definitely be differentiated in terms of price. Market strategy, so as to open the gap with it and get more consumers’ attention and favor.

  In addition, in the classification of new energy vehicle technology in China, the positioning of the extended program is a bit special. From the classification of subsidies, the extended range and plug-in hybrid belong to the same standard, and the subsidy amount is lower than that of pure electric vehicles. In addition, different restricted cities have different policies on it. Judging from the current policy, Beijing, for example, can’t enjoy the new energy license plate policy for extended-range vehicles, and you need to use the oil vehicle index to buy it. In Shanghai, it can get the same green "Shanghai AF" new energy license plate as the plug-in hybrid model. In the "Regulations on Investment Management of Automobile Industry (Draft for Comment)" issued by the National Development and Reform Commission, it is clearly classified as an investment project of pure electric vehicles, and plug-in hybrid vehicles belong to the investment scope of fuel vehicles.

● Edit Comment:

Home of the car

  Ideal Smart ONE This car can be described as a collection of high value, high endurance, medium and large 7-seat SUV, rich technology configuration, etc. It can be said that its appearance has solved some consumers who want both value and high mileage data, so the only thing we have to wait for is the final pricing of the car. If the price is close to the people, I believe it will have excellent market performance.

  In addition, the ideal intelligent ONE model is developed based on a pure tram platform. Different from ordinary pure electric vehicles, it is equipped with a large-capacity battery pack and combined with a high-power extended-range power generation system, which can fundamentally eliminate the mileage anxiety of users when using pure electric vehicles. In addition, the engine mounted inside it only serves as a range extender to generate electricity, and then the vehicle is driven by electricity. Achieve low fuel consumption and provide pure tram driving quality without changing the traditional car habits.

Home of the car

  As an extended-range power system, I believe many netizens will be unfamiliar with this name at first sight, but they will be familiar with the representative models of this system, such as BMW i3 extended-range model, buick VELITE 5, Nissan Note e-POWER and so on. Therefore, if the car is priced close to the people in the future, I believe that the extended electric vehicle route may also set off a new wave of new energy car buying in China. (Text/car home Zhouyi)

Home of the car

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Shenzhen takes the lead in legislating for autonomous driving, and Volkswagen and Bosch jointly develop L2/L3 autonomous driving technology | July Smart Driving Hot Search

Shenzhen takes the lead in legislating for autonomous driving, and Volkswagen and Bosch jointly develop L2/L3 autonomous driving technology | July Smart Driving Hot SearchShenzhen takes the lead in legislating for autonomous driving, and Volkswagen and Bosch jointly develop L2/L3 autonomous driving technology | July Smart Driving Hot Search

01 Take a macro look

# Shenzhen takes the lead in legislating for autonomous driving

On July 5, the Regulations on the Management of Intelligent Networked Vehicles in Shenzhen Special Economic Zone passed the deliberation and came into force on August 1, 2022. This is the first domestic regulation regulating intelligent networked vehicle management, which consists of nine chapters and sixty-four articles, including general rules, road testing and demonstration applications, access and registration, use management, vehicle-road collaborative infrastructure, network security and data protection, traffic accidents and violation handling, legal responsibilities and supplementary provisions. The "Regulations" is the first official management document in China to divide important issues such as the rights and responsibilities of L3 and above autopilot in detail, and it is expected that Shenzhen will continue to issue more detailed normative documents in the future.

Comments:In the history of autonomous driving in China, it is a landmark worthy of recording.

# China has completed the first phase of intelligent networked automobile standard system construction.

On July 16th, the National Automobile Standardization Technical Committee said that China has completed the construction of the first-stage intelligent networked automobile standard system, and by 2030, China will add more than 100 intelligent networked automobile standards. It is said that in the first phase of China’s intelligent networked automobile standard system, 39 related standards have been submitted for approval, and China has initially established an intelligent networked automobile standard system that can support driver assistance and low-level automatic driving. There are 19 international standards and regulations led and formulated by China.

Comments:It will provide support and guarantee for the development of intelligent networked automobile industry.

# "Research Achievements of Automotive Chip Standard System Construction" released

On July 20th, China Automotive Chip Industry Innovation Strategic Alliance released "Research Achievements of Automotive Chip Standard System Construction". At present, 15 automobile chip standards have been formulated and published, covering the general requirements, reliability, functional safety, system matching test, vehicle matching test and other fields of automobile control chips, communication chips and power semiconductors.

Comments:The Long March took the first step.

# The junction of Jiangsu, Zhejiang and Shanghai will be the first to open the autopilot test road.

On July 28th, "Several Measures on Accelerating the Development of Digital Economy in the Yangtze River Delta Eco-green Integration Development Demonstration Zone" was issued, which pointed out that the junction of Shanghai, Jiangsu and Zhejiang will work together to build a leading vehicle-road collaborative demonstration zone in China. It is reported that the demonstration area will enrich the open test road scenes of autonomous driving, and explore and promote the construction of open test road scenes in water town living room, Huandianshan Lake and National Intelligent Networked Automobile (Jiashan, Zhejiang) demonstration area.

Comments:Integrated development to create the growth pole of autonomous driving.

Take a look at business applications.

# Radish Run Opens the Pilot of Autopilot Commercialization in Wuhan

On July 5, Baidu Apollo announced that its self-driving travel service platform "Radish Run" started a commercial pilot in Wuhan Economic Development Zone to provide self-driving paid travel services to the public. According to the plan, the pilot service will cover 166 kilometers of roads within 30 square kilometers of the Economic Development Zone, and 63 recommended boarding points will be set up. The service time will last from 9: 00 am to 17: 00.

Comments:The scope of self-driving travel services has been further expanded.

# Beijing launches the first commercial pilot of unmanned travel in China.

On July 20th, Beijing officially opened the first domestic unmanned travel service commercialization pilot. Baidu and Xiaoma Zhixing became the first batch of licensed enterprises, and invested 30 main driving unmanned vehicles within 60 square kilometers of the core area of the Economic Development Zone to carry out normalized toll collection services.

Comments:This indicates that the domestic unmanned travel service has entered a new stage of commercialization pilot from demonstration operation.

# Feibu Technology Cheluyun Application Fully Landing in Nantong Port

On July 27th, with the approval of the coastline of the container terminal in Lvsi Qibu Port Area, the application scheme of smart port with integrated vehicle, road and cloud built by Feibu Technology for Nantong Port also passed the acceptance test recently and was officially delivered to customers. The solution includes products and services such as car-side driverless, roadside intelligent perception and cloud scheduling management.

Comments:The commercial application of the automated transport queue composed of multiple vehicles, such as automatic driving truck +IGV, has reached a new level.

Take a look at enterprise dynamics.

# Volkswagen and Bosch cooperate to develop L2/L3 autopilot technology.

On July 6th, Volkswagen and Bosch obtained permission from the German Cartel Office and began to cooperate in developing autonomous driving technology. The two sides will cooperate on L2 /L3 autonomous driving technology, and the new technology will be deployed on the vehicles of Volkswagen Group in 2023. In addition, the two sides will also develop L3-level automatic driving function based on expressway.

Comments:The combination of Bosch and Volkswagen will further enhance their competitiveness in the field of autonomous driving, and it will also promote their smooth electrification transformation.

# Mercedes-Benz and Tencent signed a memorandum of cooperation.

On July 11th, Daimler Greater China Investment Co., Ltd. signed a memorandum of cooperation with Tencent Cloud Computing (Beijing) Co., Ltd. to carry out strategic cooperation in the field of high-level autonomous driving, and use cloud computing, big data and artificial intelligence technologies to speed up the simulation, testing and application of Mercedes-Benz autonomous driving technology. According to reports, the cooperation will also establish a joint laboratory for autonomous driving to support the joint research and development of autonomous driving technology between Mercedes-Benz and NVIDIA in China.

Comments:Can a strong alliance occupy a place in the fierce competition in the field of autonomous driving?

# Amazon Cloud Technology expounds the automotive industry solution

On July 14th, Amazon Cloud Technology announced that it will define the digital scenes of the three major automobile industries around autonomous driving, car networking and software, and empower the digital transformation of the automobile industry. It will help car companies to build an end-to-end closed loop of autopilot data centered on the autopilot data lake, and use its infrastructure in 84 available areas in 26 regions around the world to allow car companies to build a car networking platform. It can also integrate Amazon Intelligent Personal Assistant Amazon Alexa to provide users with voice interaction in the car, and so on.

Comments:The temptation of the self-driving car industry is not small, and the leader in the cloud computing industry has also taken a share.

# BYD or self-developed smart driving chip

On July 15th, it was learned from a number of people familiar with the matter that BYD was planning to independently develop a special chip for intelligent driving. The project was led by BYD’s semiconductor team, and it has already sent a demand to the design company. At the same time, it is also recruiting a BSP(Board Support Package) technical team. If the progress is fast, it is expected that the film can be streamed at the end of the year.

Comments:Intelligence is a battleground for military strategists, and BYD’s layout comes naturally.

# Baidu Apollo RT6 released

On July 21st, Baidu released the sixth generation mass-produced unmanned vehicle-Apollo RT6. The new car has the full unmanned driving ability of complex urban roads, and the cost is 250,000 yuan. Its biggest feature lies in the forward research and development. Apollo RT6 is the first model based on Robotaxi forward design and development. According to the plan, Apollo RT6 will be the first to be put into use in radish fast running, and will be put into trial operation in small batches in the second half of 2023, operating in 65 cities in 2025 and covering 100 cities in 2030.

Comments:Positive research and development helps Baidu to make great strides in the field of autonomous driving.

# Iflytek: It has cooperated with more than 90% independent and joint venture car companies.

Recently, Iflytek said on the investor interaction platform that the company’s cooperation in automotive intelligent products has covered more than 90% of China’s mainstream independent brands and joint-venture brand car manufacturers, including BYD, Weilai, Ideality, Gaohe, Weimar, Zero Run and other new energy car manufacturers.

Comments:Iflytek’s circle of friends keeps expanding.

# Xiaoma Zhixing and Sany Heavy Truck set up a joint venture company.

On July 28th, Xiaoma Zhixing and Sany Heavy Truck announced that they would set up a joint venture company to develop, produce and sell L4 self-driving heavy truck products and jointly build a high-end self-driving heavy truck brand. The joint venture company plans to start small-scale mass production delivery in 2022. In 2024, it will further integrate Xiaoma Zhixing’s virtual driver capability, as well as Sany Heavy Truck’s drive-by-wire chassis and vehicle development capability, and mass-produce high-end self-driving heavy truck products. In a few years, the annual output is expected to exceed 10,000 vehicles.

Comments:The development of self-driving heavy trucks has reached a new level.

04 capital trends a stroke.

# Xinqing Technology completed nearly one billion yuan in Series A financing.

On July 19th, Xinqing Technology successfully completed nearly one billion yuan of Series A financing. The financing funds are planned to be used for the batch supply of existing products and the next stage of R&D and deployment of vehicle-mounted chips with high computing power. This round of financing was led by Sequoia Capital, and Neusoft Capital, Bosch’s Boyuan Capital and SMIC Juyuan participated in the investment. It is reported that this is the largest single financing in the field of automotive chip design in China in the first half of 2022.

Comments:Automotive chips are the best in the industry.

# Weilai Capital leads the unmanned sanitation company Yunchuang Zhixing Pre-A round.

On July 19th, Weilai Capital announced that it would lead the investment in the Pre-A round of financing of Yunchuangzhi, an unmanned sanitation company, which will be used for the research and development of the company’s core technology, the large-scale mass production and the wider commercial deployment. Founded in March 2021, Yunchuang Zhixing is an autonomous driving company focusing on the sanitation industry and is committed to creating an overall solution for unmanned sanitation operations.

Comments:Subdivide the track or take the lead in breaking the bottleneck of large-scale application in the industry.

# Yuntu Semiconductor completed hundreds of millions of A+ rounds of financing.

On July 29th, Yuntu Semiconductor announced the completion of several hundred million yuan A+ round financing. Xiaomi Investment and Lianxin Capital continued to increase, and new institutions such as Jinbang Capital, BAIC Investment, Core Kinetic Energy, Huitianfu and Yongxin Capital increased their investment. It is reported that this round of financing funds will be mainly used for the research and development of next-generation products and the mass production and sales of L and M series chips.

Comments:The strength of the seed player of the car gauge chip should not be underestimated.

05 talk about personnel changes

# Tucson Future Co-founder Huang Zezhen resigned

On July 5, according to media reports, Huang Zehua, the future co-founder and vice president of engineering of Tucson, left his post in October 2021 and will start a business in the field of trucks. According to Tianyan’s enterprise information, in April this year, Huang Zehua established a company called "Zero One Smart Card". According to industry insiders, the direction of Zero One Smart Card is to provide truck hardware for autonomous driving software companies and become the "Wei Xiaoli" in the domestic truck industry.

Comments:The smart truck industry needs new forces to stir the pool water.

# Chen Yilun, Chief Architect of Huawei Car BU, resigned.

On July 13th, according to media reports, Chen Yilunbo, CTO of Huawei’s autonomous driving system and chief scientist of Car BU, recently left his post to join Dr. Zhang Yaqin of Tsinghua and Tsinghua University Intelligent Industry Research Institute (AIR) as the chief expert in the direction of intelligent robots. Chen Yilun led the full-stack research and development of Huawei’s first-generation autopilot system from 0 to 1.

Comments:The result of Huawei’s organizational structure adjustment.

# Former UBS Group AG executive Hou Yanzhen became CFO of Heduo Technology.

On July 18th, Heduo Technology announced that Hou Yankun, the former Asian vice chairman and managing director of UBS Group AG Global Investment Banking Department, was appointed as the company’s chief financial officer, in charge of the company’s capital operation, finance and strategy-related work. According to the data, Hou Yankun has worked in many internationally renowned financial institutions such as Swiss Bank, Nomura International and Lehman Brothers, and has nearly 20 years of experience in securities research and investment and financing in the automotive and machinery industries. He has led a team to complete domestic and foreign capital market financing projects such as LI, Weilai Automobile, BYD, Geely, Volvo, Contemporary Amperex Technology Co., Limited and Junsheng Electronics.

Comments:With the participation of financial background executives, the operation of Heduo Technology Capital may be smoother.

# Lenovo Group intensively recruits automotive R&D talents.

Recently, Lenovo Group began to intensively recruit automotive R&D talents through official channels. Lenovo’s open positions include autopilot engineering director, in-vehicle infotainment system director, senior hardware/software manager, etc. In addition, LR VC Lab related positions have been opened. Earlier, Yang Yuanqing, chairman of Lenovo Group, said in an interview that Lenovo was determined not to build cars, but to put limited energy and resources on a clear track.

Comments:No cars, but layout.

Listen to international news.

# Volkswagen will support the "pay on demand" mode of autonomous driving.

On July 10th, Dirk Hilgenberg, CEO of Cariad, a software division of Volkswagen Group, said that Volkswagen will provide a pay-as-you-go mode in the autopilot function, which means that the Volkswagen autopilot assistance system will support the option of paying by mileage in the future. However, he did not disclose the charging standard.

Comments:Volkswagen uses autonomous driving to develop new profit points.

# GM and Ford apply for the deployment of self-driving cars without steering wheel

On July 21st, General Motors and Ford Motor Company applied to the American automobile safety regulatory agency for exemption, allowing the deployment of a certain number of self-driving cars without artificial control devices such as steering wheel and brake pedal. Both automakers hope to deploy as many as 2,500 cars for carpooling and distribution services every year, which is the maximum number allowed by law.

Comments:The form of self-driving cars is evolving to imagination.

#Cruise will launch a self-driving taxi service in Dubai

On July 24th, Cruise has tried to launch a self-driving taxi service in Dubai. According to the Dubai Road and Transportation Authority (RTA), Cruise has sent two Chevrolet Bolt electric cars equipped with autonomous driving systems to Dubai just a few weeks after it officially launched its commercial driverless business in San Francisco, and started to draw a map of the city, in order to prepare for the official launch of autonomous driving commercial services in the local area in 2023.

Comments:The agreement with Dubai marks Cruise’s major expansion plan.

Explore 07 cutting-edge technology

# Tesla will demonstrate Steam integration next month.

On July 16, Tesla CEO Musk said in response to a netizen’s question about Tesla games, "We have made progress in Steam integration and may give a demonstration next month." On February 23 this year, in response to a question from a Twitter user, Musk said that Tesla was studying transplanting Steam games (in batches) into the car.

Comments:In-car entertainment, a valuable gold mine, is being developed.

# Apple applied for a patent for professional mixed reality headphones.

On July 18th, Apple applied for a new patent: a patent for professional mixed reality headphones for self-driving cars without windows. Windows are originally unsafe, which will increase the cost. By providing a virtual view of the real environment or the simulated environment, the VR system can reduce or eliminate the need for windows for self-driving cars, thus allowing the windows of vehicles to be smaller, or directly canceling the windows, thus making self-driving cars safer, smaller and cheaper.

Comments:Virtual reality technology may change the structure of self-driving vehicles.

# Sony will develop new autopilot sensors

On July 19th, Sony Group announced that it will develop a new self-driving sensor, which will reduce the power consumption by 70% and increase the driving range of electric vehicles (EVs). The sensor will be manufactured by Sony Semiconductor Solutions and paired with new software developed by the startup Tier IV. The two companies hope to achieve L4 technology by 2030, allowing cars to drive automatically under certain conditions.

Comments:Sony black technology may make the driving range no longer anxious.

Tencent Music, whose profit increased by 36% year-on-year last year, is also worried, and the number of monthly users of its main business has decreased for several consecutive quarters.

The business map of Tencent Music has been adjusted.

On March 19th, Tencent Music released the unaudited financial performance report for the fourth quarter and the whole year as of December 31st, 2023.

In the fourth quarter of 2023, the total revenue of Tencent Music was RMB 6.89 billion, down 7.2% year-on-year; The net profit was 1.41 billion yuan, a year-on-year increase of 16.9%.

In 2023, the total revenue of Tencent Music was 27.75 billion yuan, down 2.1% year-on-year; The net profit was 5.22 billion yuan, a year-on-year increase of 36%.

After the financial report was released, before the US stock market closed on March 19th, the share price of Tencent Music rose by 0.48%, corresponding to a market value of $17.813 billion.

In terms of business, Tencent Music is still in the process of adjusting its business structure and continues to focus on online music services. In Q4 of 2023, Tencent Music’s online music service revenue reached 5.02 billion yuan, a year-on-year increase of 41.1%; The income from social entertainment services and other services dropped by 51.6% year-on-year to 1.87 billion yuan. Correspondingly, in Q4 of 2023, the operating cost of Tencent Music decreased by 14.6% year-on-year to 4.25 billion yuan due to the decrease in revenue sharing cost corresponding to the decrease in social entertainment service revenue.

In the whole year of 2023, thanks to the accelerated growth of online music subscription revenue and advertising service revenue, as well as the growth of sales revenue around artists, Tencent Music’s online music service revenue was 17.33 billion yuan, a year-on-year increase of 38.8%; As the company adjusted some live interactive functions and implemented stricter compliance procedures, the revenue from social entertainment services and other services was 10.43 billion yuan, down 34.2% year-on-year.

With the concentration of live broadcast traffic to the short video platform in the head, Tencent Music is also changing its strategy. Nowadays, online music service has become Tencent’s music business accounting for over 70%, and this proportion is increasing — — From 37.1% in Q1 in 2023 to 72.9% in Q4, and achieved good profits. Earlier, Tencent Music’s social entertainment service accounted for 70% of the company’s total revenue.

In this process, Tencent Music has tapped the paying potential of users, and both the number of paying users and the average monthly income of users of its online music service have increased. The former increased by 20.6% to 107 million in Q4, while the latter increased by 20.2% to 10.7 yuan.

In addition, Zhu Liang, CEO of Tencent Music, said at the performance meeting that Tencent Music pays more attention to the overall activity and liquidity of long audio content and the promotion of long audio content in the car market. In 2023, the long audio service achieved more than the expected results in the transformation of Tencent Music. Next, Tencent Music will continue to promote the distribution and commercial efficiency of long audio content on the entire music platform.

Cussion Pang, executive chairman of Tencent Music, said in the financial report, "2023 is a crucial year for the transformation of Tencent Music." "The strong performance of online music services not only eased the pressure on social entertainment services, but also promoted the steady increase of quarterly net profit."

However, Tencent Music, which has successfully transformed, is not without worries. On the one hand, the number of monthly active users of online music service, which has been regarded as the main business, has decreased for several consecutive quarters. In Q4 of 2023, the number of monthly active users of this service was 576 million, a year-on-year decrease of 4.2% and a quarter-on-quarter decrease of 3.03%. The number of monthly mobile users of social entertainment services also decreased by 28.8% year-on-year to 104 million.

On the other hand, although the net profit performance is good, but reducing costs and increasing efficiency has not changed its overall income decline. In 2023, the total revenue of Tencent Music decreased by 2.1% year-on-year.

Regarding the loss of Q4 users, Liang Zhu said that there are quarterly reasons, and the mobile terminal itself continues to be affected by short videos, and the traffic has the pressure of natural loss; In 2023, the promotion and marketing expenses of Tencent Music were also reduced, and the distribution channels were also reduced.

In addition, in 2023, the average monthly income of users of Tencent Music’s online music service increased, which also caused negative user feedback. The topic of "QQ music members’ price increase" was once on the hot search in Weibo. In addition, Tencent Music’s MOO Music, which focuses on young users and targets Netease Cloud Music, was shut down on December 31, 2023.

Netease Cloud Music, the main competitor of Tencent Music, released its financial report on March 1st. The latter also embarked on the road of reducing costs and increasing efficiency and adjusting its business structure, and also experienced a decline in income and an increase in profits — — In Q4 of 2023, the net income of Cloud Music was 1.986 billion yuan, down 16.4% year-on-year; Gross profit was 601 million yuan, up 42.32% year-on-year.

According to the financial report of Tencent Music, as of December 31, 2023, the total balance of cash, cash equivalents and time deposits of Tencent Music was 32.22 billion yuan. In addition, according to the $500 million share repurchase plan announced on March 21, 2023, as of December 31, 2023, Tencent Music has repurchased about 25.3 million shares of american depository receipts from the open market for $174.5 million in cash.

Guangxi Sports Lottery visited nearly 1,000 physical stores.

Recently, Guangxi Sports Lottery Center organized 10 working groups to visit 14 districts and cities in the whole region in the Spring Festival. This visit condolences to nearly a thousand physical stores. This is the third year in a row that Guangxi Sports Lottery has organized the activity of "Going to the Grassroots in the Spring Festival to show sympathy and warm people’s hearts", which has continuously enhanced the sense of acquisition, happiness and security of sports lottery practitioners.

"The Spring Festival is approaching. I wish you a happy New Year, good health and a happy family." The person in charge of Guangxi Sports Lottery Center walked into a sports lottery physical store, cordially started a family conversation with the consignment agents, asked them about their health, living conditions and business conditions in detail, understood their urgent difficulties and worries, and sent condolences to encourage them to strengthen their confidence, manage with heart, struggle hard and live a better life through their own efforts.

The person in charge of Guangxi Sports Lottery Center said that as the backbone of sports lottery sales channels, star-rated physical stores have made outstanding achievements through their own hard work and unremitting efforts, and the majority of star-rated physical stores have made great contributions to the high-quality development of Guangxi sports lottery. I hope everyone will make persistent efforts and create new glories; For those who have difficulties in life and those who sell goods on a commission basis in party member, Guangxi Sports Lottery focuses on condolences, and will improve effective measures such as mutual assistance, training and empowerment, and business support with greater efforts to benefit the people, so as to provide tangible help to solve everyone’s practical difficulties and make everyone feel warm; Party member agency is a group of people who play a leading role in the sports lottery team. As the frontier and window to serve the majority of lottery buyers, they should not only do their jobs well, but also be a bridge to connect the party’s heart and public opinion. (From January 30th, China Sports Daily, 08 edition) 

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