Bo Huang grew up with a beard.


Bo Huang dingzhuangzhao

　　The 12th Shanghai International Film Festival opened a few days ago. At the red carpet ceremony held on the opening day, Ning Hao’s debut with the latest masterpiece "No Man’s Land" also won enthusiastic cheers from the audience. As one of the most important films in the film festival, Bo Huang, the star of the film, did not appear in the red carpet lineup. It is understood that Bo Huang is currently working on his latest masterpiece "Fried Rice with Eggs", so he failed to participate in the Shanghai Film Festival.

　　Bo Huang’s new film Fried Rice with Eggs is still a comedy theme, but it is completely different from his previous works. In the film, first hero David, played by Huang Bo, is a "fool", but inadvertently promotes the occurrence of major events in history. He struggled optimistically in the waves of the times and smiled calmly at the absurd world. Others think he is a "fool", but from another angle, maybe he is the only normal person, but the world is too crazy. The film not only reproduces the fragments of past life, but also reminds people of the simple feelings in those long years. Emotionally moving people, but also full of jokes.

　　The movie "Fried Rice with Eggs" is Bo Huang’s first film since he joined the billion-dollar box office club. Bo Huang said that he decided to act in the film because he saw the novelty of the story and the challenging role he played, subverting his previous image. The role of "David" examines the society from a unique perspective. It is full of laughter and rich emotions, and it is the first time for Bo Huang to have a large-scale emotional drama. Therefore, he also regarded the film as his own transcendence and devoted great enthusiasm. Bo Huang hopes to prove his mastery of various characters through this film, so as to get rid of the label of "black skin".

　　The other two starring roles in Fried Rice with Eggs with Bo Huang are also quite well-known. Miss Asia Guo Jin and Wang Yi, who plays Liao Sanmin in Latent, play Bo Huang’s lover and friend respectively. At the same time, these three people also have a scene of emotional entanglement. Zhang Dali, a famous comedian, Li Jiacun, who enjoys delicious food, and Li Qinqin, who has performed well in many classic film and television works such as Clouds in Beijing and My ugly mother, will all support the film.

　　In addition, it is worth mentioning that the film was shot by a famous domestic photographer, Li Yixu, and his works have a high reputation in the film industry, such as Juvenile Killing in Zhuling Street, Mahjong, First Intimate Contact, Rain Dog and Harmony Road, etc., which all won international awards.

　　It is reported that the film "Fried Rice with Eggs" starring Bo Huang is under intense shooting, and it is expected to meet the audience this year.

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　　Globalization of woodworking machinery industry: German and Italian brands account for about 45% of the world.

　　In the international woodworking machinery manufacturing industry, most of the production capacity is concentrated in a few countries such as Germany and Italy.In 2015, the total output value of woodworking machinery in Germany and Italy accounted for about 45% of the world. presentGerman, Italian and China have become the largest exporters of woodworking machinery.And gradually widen the gap with other enterprises.In terms of market competition pattern, Germany Haomai, Italy Biesse and Italy SCM Group account for 31%, 12% and 11% of the global woodworking machinery market respectively.,The advantages of large international enterprises are obvious, and the global woodworking machinery industry is relatively stable.

　　Industry demand shows a positive recovery, and global giants’ operating orders have entered a new stage of growth.

　　From the end of 2014, the industry economic index began to show positive signs, and the global woodworking machinery industry began to get out of the stagnant state after the economic crisis in 2008 and showed a rapid recovery, with North America and China markets occupying a prominent position.From the order index of Italian woodworking machinery and tools, the index in 2016 has returned to the level of 2007, especially for overseas demand, and its order index even reached a new high. What followed was that the operation of international giants entered a new stage.In Q1, 2017, German Haomai Group signed a new order of 401 million euros, a substantial increase of 64.7% year-on-year, and accumulated orders in hand of 520 million euros, the highest value in 10 years.

　　The genes for the success of overseas enterprises: innovative stand-alone products and flexible solutions that are improving day by day.

　　On the stand-alone side,Heroic constantly brings forth the old and brings forth the new, leading the industry trend.Such as a new generation of seamless (edge sealing) technology AirTec. On the other hand,Providing flexible and applicable solutions under the background of Industry 4.0 has become the most important trend in the industry.. Haomai has the whole process products from warehousing to assembly and packaging, and can provide various flexible solutions for batch serial production.In 2015, the single machine revenue accounted for 47% of the heroic revenue, and the production line and service revenue accounted for 30% and 21% respectively, and the proportion of production line and service revenue was already at a high level.

　　Domestic enterprises have made a breakthrough in single machine, and the capacity of the whole line plan has yet to be precipitated.

　　Benefiting from the recovery of domestic manufacturing industry, and at the same time, the trend of furniture customization has stimulated the willingness of enterprises to invest. Since 2016Q3, the income of domestic panel furniture machinery enterprises Hongya CNC and Nanxing Equipment has resumed high growth.From the product point of view, domestic enterprises only focus on a few processes of wood processing, such as edge sealing, cutting and drilling. Although there is a breakthrough in single machine, some products have reached the domestic substitution level, but there is still a great room for improvement from the international whole line provision scheme.

　　Investment advice:At present, the global woodworking machinery industry shows a positive recovery, and the domestic market is growing strongly under the catalysis of the trend of customized furniture. Hongya CNC and Nanxing Equipment are the first-line customized furniture equipment enterprises in China. We suggest focusing on domestic leading companies with core advantages in key equipment.

　　Risk warning:The macro environment, especially real estate investment, is uncertain; The competitive pressure brought by increasing domestic investment by multinational enterprises; Technology research and development is less than expected; The intensification of industry competition has led to a decline in gross profit margin.

　　One,Viewing woodworking machinery industry from the perspective of globalization

　　1.1 product structure: the trend of panel furniture is improving for a long time.

　　On the meaning of woodworking machinery.According to the different product forms from forest trees to furniture production, machinery and equipment can be divided into forestry machinery, woodworking and wood-based panel machinery and furniture machinery. In a narrow sense, forestry machinery refers to machinery used for afforestation (including afforestation, afforestation and forest protection), wood cutting and forestry lifting and conveying; Wood-based panel machinery refers to the machinery that rotates logs into veneers with a rotary cutting machine, and then glues and presses the veneers perpendicular to each other in the fiber direction to form wood-based panels; Furniture machinery refers to machinery for making furniture products, which can be divided into solid wood furniture machinery, panel furniture machinery, bamboo and rattan furniture machinery and non-wood furniture machinery according to furniture materials.

　　In the world, furniture machinery, wood processing machinery and wood processing machinery are usually included in woodworking machinery, excluding wood-based panel machinery and forestry machinery. For example, in Italy and Taiwan Province, the output value and export value of woodworking machinery usually refer to the statistics according to this classification. However, woodworking machinery in China usually incorporates wood-based panel machinery and forestry machinery into statistics. The woodworking machinery mentioned in this paper refers to the former, that is, it does not include wood-based panel machinery and forestry machinery.

　　Long-term trend of panel furniture.Panel furniture refers to assembled furniture with wood-based panels as the main substrate and panels as the basic structure. Common artificial boards include plywood, particleboard, medium density and high density fiberboard. When Heidegger invented steel hinges, wood-based panels and wood-based panel facing technology more than 50 years ago, panel furniture was recognized by consumers by virtue of its stable quality, individuality, high efficiency and low cost, and created a "panel era" in the history of world furniture. China’s furniture industry has introduced panel furniture for more than 20 years. At present, panel furniture has occupied half of China’s furniture consumption. At the same time, the vigorous development of panel furniture has promoted China’s development to a world-class furniture manufacturing country and exporting country.

　　The global output of sawn timber and logs has been basically stable at 1000 million m in the past 35 years. 3; Fluctuating up and down horizontally; In contrast, the output of wood-based panels has maintained a continuous growth, and has basically maintained an annual growth level of 5%~10% since 2000. In 2015, the global output of wood-based panels was 582.8 million m? 3; , reaching 52% of sawn timber log output. The long-term continuous growth of wood-based panel output reflects the long-term improvement of panel furniture trend.

　　According to Acimall data of Italian woodworking machinery and tool manufacturers association, in 2015, the output value of Italian woodworking machinery was 1.864 billion euros, accounting for 18% of the global output value of woodworking machinery, which calculated that the annual market size of global woodworking machinery was about 10 billion euros. In the international woodworking machinery manufacturing industry, Germany and Italy are in the leading position in the global market. According to Intracen data, in the European woodworking machinery market in 2015, German and Italian woodworking machinery accounted for 45% and 30% respectively. According to the European woodworking machinery market accounting for 60% of the world, the total output value of woodworking machinery in Germany and Italy accounts for 45% of the world.

　　At present, the supply center of woodworking machinery in the world is constantly tilting towards German, Italian and China.German and Italian woodworking machinery are in the leading position in the world in terms of output value and technology, and most of their products are exported. In 2015, 76% of the annual output value of Italian woodworking machinery was exported. However, China’s woodworking machinery industry is also expanding in scale, and the technology is also breaking through in the subdivision field, narrowing the gap with developed countries. In recent years, German, Italian and China have gradually widened the gap with their main competitors such as Taiwan Province, Austria and the United States. In 2015, the export value of German, Italian and China woodworking machinery was 1,899,1,329 and 1,301 million euros respectively, accounting for about 45% of the global woodworking machinery output value.

　　European woodworking machinery is mainly exported to America and Asia. In 2015, European woodworking machinery exports to America and Asia accounted for 12.6% and 13.3% of the total output value respectively. The United States and China are all important consumers. For example, in 2015, Italy exported woodworking machinery to the United States, accounting for 10.55% of the total output value, up 52% year-on-year; Most of the high-end market of panel furniture machinery in China is occupied by overseas enterprises.

　　The prosperity of the downstream furniture industry has rebounded and the willingness to invest has increased.The main downstream of woodworking machinery is in the furniture industry, and the overall prosperity of the furniture industry will affect the willingness of enterprises to invest and directly determine the demand for equipment. On the whole, after the financial crisis in 2008 led to a sharp decline in demand, the furniture industry boom is moderately picking up. However, it was not until 2014-2015 that the overall furniture industry showed a relatively positive signal after several years of recovery. The United States is one of the largest furniture consumers in the world. From the perspective of its retail furniture sales, the retail furniture sales began to show a straight-line recovery in 2009, and after 10 years, the sales returned to the level of 2007. According to the enterprise prosperity of IFO German furniture production industry, after a short recovery in 2011-2012, the German furniture industry was still in a relatively low state in 2013-2014. Until the second half of 2014, the industry prosperity index showed a strong recovery momentum, and the current German furniture industry prosperity still maintained a good prosperity.

　　Woodworking machinery industry shows positive recovery.. Due to the globalization of woodworking machinery industry, its overall demand is mainly affected by global macro-economy. Along with the boom of the downstream furniture industry, its investment will continue to strengthen, thus releasing the demand for woodworking machinery. According to the Italian woodworking machinery and tool order index of Acimall, the Italian woodworking machinery and tool manufacturers association, the global woodworking machinery is showing a positive recovery. In 2007, the output value of Italian woodworking machinery and tools was close to 2.2 billion euros, the highest value in the past ten years. Directly affected by the economic crisis in 2008, the industry output value fell by nearly 40% in 2008. After experiencing a normal rebound in 2010, it was basically in a long-term stagnation in 2011-2014, and the traditional mature market demand did not keep up with the industry capacity. Until the second half of 2014 or 2015, economic indicators began to show positive signs, and domestic and foreign demand began to grow. From the order index of Italian woodworking machinery and tools, the index in 2016 has returned to the level in 2007, especially for overseas demand, and its order index even reached a new high.

　　From the perspective of the output value of Italian woodworking machinery industry, it reached a sustained and rapid growth of 8.4%, 11.4% and 9.9% respectively in 2014-2016. Acimall predicts that the total domestic sales of Italian woodworking machinery industry will increase by 20% in 2017, exceeding 700 million euros, influenced by the Italian government’s Industry 4.0 plan; The total output value will reach 2.2 billion euros, an increase of about 10%; The total export volume will reach 1.6 billion euros, up about 6% year-on-year. The total output value has returned to the highest level in history in 2007.

　　With the deepening trend of customized furniture, the new market has strong momentum.On the one hand, the recovery of global demand for woodworking machinery industry lies in the macroeconomic recovery of traditional mature markets, which gradually releases the equipment investment in furniture industry that was suppressed in previous years; On the other hand, in emerging markets such as China, with the vigorous development of new trends such as custom-made furniture, the urgent requirement of transformation has brought investment demand for advanced equipment, which has become a new impetus for the global woodworking machinery industry.

　　At present, the custom-made furniture industry in China is in a high development stage. From 2013 to 2016, the average income growth rate of listed custom-made furniture companies was mostly 20%~40%, and the polarization phenomenon became more and more obvious. Companies in the industry have sought to go public in order to increase equipment investment to seize the market. In 2017 alone, many industry-leading customized furniture companies, including Shangpin home delivery, Ou Pai Home, Wo Le Home, Gold Kitchen Cabinet, etc., made IPOs.

　　In the global woodworking machinery industry, leading enterprises in Germany and Italy have led the development of the industry. In terms of scale and technology, the global woodworking machinery industry is basically occupied by several large enterprises such as Germany Haomai and Italy BIESSE, and the overall pattern is relatively stable. According to the investor relations report released by Toure Group (which acquired Germany Haomai in 2014) in 2017, Germany Haomai, Italy Biesse and Italy SCM Group accounted for 31%, 12% and 11% of the global woodworking machinery market respectively. In the high-end market, several large international enterprises have a higher share.

　　2.1 Brief introduction of Germany Haomai and Italy Bias Company

　　HOMAG (Germany):German Haomai Group was founded in 1960 and listed in Germany in 2007. In 2014, the company was acquired by Duel Group. Germany Haomai is a global leader in woodworking machinery industry, currently occupying 30% of the global market share. The company has about 6,000 employees, 15 production bases, 23 sales and service subsidiaries and 60 exclusive sales partners in 7 countries around the world.

　　Haomai products cover almost a full range of products such as CNC machining center, drilling and assembly, edge processing, packaging, panel cutting and sanding. Company customers include furniture manufacturers, structural components manufacturers, wood structure housing manufacturers. In 2015, the income from furniture manufacturers accounted for 84% of the total income.

　　Haomai Group includes many brands such as Brandt, Friz, Holzma, Homag, Weeke, etc. Each brand has a clear product positioning. For example, Brandt was integrated into Haomai Group in 1976, and its superior products are edge banding machines; Friz’s superior products are in packaging technology; Holzma products are mainly panel saws, and the product portfolio includes independent saws, manual angle saws, automatic feeding and stacking systems. In 2017, Haomai Group established a brand strategy, announcing that individual brands will be included in the business unit, and Haomai is the label of all products. At the beginning, "a heroic" mainly emphasized the internal structure and wanted to create a new and powerful company organization. Now this strategy will further consider the technical platform and standardized technical standards.

　　BIESSE, Italy:BIESSE was founded in 1969 and listed on the Italian stock exchange in 2001. At present, it occupies about 12% market share in the global woodworking machinery industry. The company has 3,800 employees, 9 production bases, 37 branches and representative offices and more than 300 distributors worldwide. BIESSE mainly processes machinery and accessories for wood, glass, stone, advanced materials and metals. In 2016, BIESSE’s revenue was divided by segments, and the income of wood, glass and stone and mechatronics accounted for 72.9%, 15.5% and 14.0% respectively.

　　The development process of BIESSE Group can be roughly divided into three stages: (1) from 1969 to 2001, it was an endogenous growth stage, in which BIESSE mainly focused on the development of woodworking machinery, and later products were expanded to glass and stone machinery; (2) From 2002 to 2011, BIESSE grew mainly through internationalization and mergers and acquisitions, such as setting up overseas production bases in India, setting up Bias Switzerland in Lucern and establishing Bias Middle East in Dubai; (3) From 2012 to now, BIESSE has further expanded internationally and developed through mergers and acquisitions.

　　The growth trajectory is synchronized with the industry, and the operation has entered a new stage of growth.The income growth track of Haomai and BIESSE is in sync with the woodworking machinery industry, which can be basically divided into four stages from 2005 to now:

　　(1) From 2005 to 2007, the demand in mature markets increased. At this stage, as the main demand market of woodworking machinery in Europe, the macro-economy is in a good growth environment, which drives the demand for equipment, and the woodworking machinery industry is in a relatively stable growth.

　　(2) In 2008 -2009, the global economic crisis caused a sharp drop in demand. At this stage, affected by the economic crisis in 2008, the demand declined sharply from the second half of 2008. The order index of Italian woodworking machinery industry experienced six consecutive quarters of decline from 2008Q2, and the order index in 2009Q3 was only 40.5% of that in 2008Q1.

　　(3) In 2010 -2013, the demand was sluggish and stagnated. At this stage, the macro-economy of mature markets in Europe is in a relatively low state, and the demand in emerging markets has not significantly boosted. The woodworking machinery industry showed a normal rebound in 2010 -2011, but the demand declined immediately in 2012, and it was basically the same as the previous year in 2013.

　　(4) In 2014 -2016, mature markets rebounded moderately, and the demand potential in North America and Asia gradually emerged. At this stage, on the basis of stable demand in the European market as a whole, the demand in the United States, China and other regions showed rapid growth, thus driving the woodworking machinery industry into a new round of growth.

　　In synchronization with the growth track of the industry, the revenues of Haomai Group and BIESSE were also in a state of stagnation in 2010-2013. Until 2014, the revenues of the two companies showed obvious signs of growth. The revenue growth rate of Haomai Group reached 13.55% in 2015, and slowed down to 4.14% in 2016, mainly due to the large scale base of the company. In 2016, Haomai’s operating income reached 1,082 million euros. In 2015-2016, the revenue growth rate of BIESSE reached 21.6% and 19.3% respectively. And the company plans that the revenue growth rate in 2017-2019 will reach 9.21%, 11.24% and 9.84% respectively.

　　New orders are good.In 2016, Haomai Group signed a new order of 1,165 million euros, a year-on-year increase of 10.1%; In Q1, 2017, the newly signed orders were 401 million euros, up 64.7% year-on-year, and the accumulated orders in hand were 520 million euros, the highest value in 10 years. In 2016, BIESSE signed a new order of 507.9 million euros, a year-on-year increase of 14.7%; In 2017, the newly signed orders were 138.7 million euros, up 14.3% year-on-year, and the accumulated orders in hand were 188.5 million euros.

　　The stock price performance is in line with the performance expectation.Because the order index precedes the performance for about half a year, it is the leading indicator of the company’s performance, and its stock price performance is often synchronized with the company’s order index, reflecting the expectation of the company’s future operating results. The performance of woodworking machinery industry, Haomai and BIESSE companies began to show signs of recovery in the second half of 2014, but before the income recovered, the share prices of Haomai and BIESSE began to rise at the end of 2013.

　　Taking Haomai as an example, the company’s share price hovered at the bottom from 2009 to 2013, and since the end of 2016, the share price of Haomai has risen significantly. As of July 4, 2017, the share price of Haomai increased by 245% compared with January 2, 2008, while the DAX index in Frankfurt, Germany only increased by 57% in the same period.

　　Since 2011, Haomai’s share price has experienced two ups and two stable stages of "bottom fluctuation-up-stable-up". The change of share price trend is consistent with the inflection point of the growth rate of new signing orders. The stock price increase is often driven by the high growth of new signing orders, and after the new signing orders stabilize or decline, the stock price will slow down.

　　(1)2013Q4-2014Q4, the first stage of stock price rise. This stage began with a substantial increase of 111.2% in the new signing orders of Haomai in Q4, 2013, and the level of new signing orders in this stage rose by a step compared with that in 2011-2013. However, with the year-on-year decline of 32.6% in newly signed orders in Q4 2014, the company’s share price reached a stage high in February 2015. Since then, in 2015, the overall new signing level has been the same as that in 2014, and the share price of Haomai has been basically stable.

　　(2)2016Q3-2017Q1, the second stage of stock price rise. This stage is marked by an increase of 64.7% in newly signed orders in Q1, 2017, and the level of newly signed orders in this stage is higher than that in H1, 2014-2016.

　　Regional Market: The growth of China and North America can not be ignored.According to the current income structure of HAMA and BIESSE, Europe accounts for about 60% of the global woodworking machinery, and North America and Asia account for 20% respectively. In 2015, Central Europe, Western Europe and Eastern Europe accounted for 21%, 18% and 17% respectively, North and Central America accounted for 22% and Asia/Pacific accounted for 19%. In 2016, the proportion of BIESSE’s revenue from Western Europe, Eastern Europe, North America and Asia was 45%, 13%, 18% and 21% respectively. The income structure of the two is basically the same according to the market region.

　　The driving force for the growth of the global woodworking machinery market lies in: the demand for living space brought by the urbanization trend, the demand for personalized furniture brought by the cocoon life trend, and the scarcity of resources. As an outstanding representative of the emerging markets in the world, China market is increasingly willing to invest in more flexible and efficient production equipment with the deepening trend of customized furniture, and China market has become an important market that cannot be ignored by international large woodworking enterprises such as Haomai. According to BIESSE’s annual report, it is estimated that the global woodworking machinery market will grow at a compound annual growth rate of about 4% from 2017 to 2019. According to Inomis Database, the market size of woodworking machinery industry in China was 658 million euros in 2015, and it is predicted that the market size will increase to 923 million euros by 2020, with a compound annual growth rate of 7%.

　　For the North American market, take the United States as an example. As one of the largest consumers of furniture in the world, the retail furniture sales in the United States showed a straight-line recovery from 2009, and after 10 years, the sales returned to the level of 2007. The furniture market in North America is showing a prosperous scene under the background of macro-recovery, which has led to the positive development of wood processing equipment.

　　Haomai Group: Occupy the potential market and fully benefit from the trend of customized furniture in China.Haomai Group is a global leader in woodworking machinery, and its market share is far ahead of other enterprises. The company’s products focus on woodworking and wood processing machinery, mainly used for processing wood. No matter in mature markets or emerging markets, due to the technology, experience and scale strength accumulated by the company for a long time, when the woodworking machinery market in a certain region recovers or rises, Haomai, as a global leader, has more advantages to enjoy market growth.

　　In 2015, Haomai’s income reached 1 billion euros, and the income kept hitting new highs, but the income structure changed greatly. The proportion of income in Europe fell from 79% in 2008 to 56% in 2015; North American market revenue rose from 75% in 2008 to 22% in 2015; The proportion of revenue in Asian market rose from 9.9% to 19%. With the spread of custom-made furniture in China in recent two years, China furniture manufacturers increased their investment in equipment, and China market became the strongest part of heroic growth. At present, the proportion of revenue from Asian market will be higher.

　　In the North American market, in 2014, Haomai acquired the remaining shares of Stiles Company in the United States and completed the wholly-owned acquisition. Founded in 1965, Stiles has a market share of 35% in the United States, and is the largest enterprise providing machinery and production line distribution and services for the woodworking industry in North America. Stiles has 290 employees. In 2013, stiles earned $158 million, an increase of 22% compared with 2012. The company has been cooperating with Stiles since 1992. The completion of the wholly-owned acquisition of Stiles will further guarantee the expansion plan of Haomai in North America. In 2014, Haomai Group earned 169 million euros from the North American market, up 134% year-on-year; In 2015, North America’s revenue was 233 million euros, up 38% year-on-year.

　　In the China market, HAMA occupies a fairly high market share in the high-end market. According to the data of BIESSE Company, it is estimated that in the China market in 2015, the market size of products that BIESSE can provide is about 300 million euros, of which Haomai accounts for 100 million euros, 2.5 times that of the second place. With the development of customization in China furniture enterprises in recent two years, many large-scale customized panel furniture enterprises have increased their equipment investment, and this part of enterprises often choose to purchase equipment and services from international large enterprises such as Haomai, and Haomai has undoubtedly become the most beneficiary. On May 5, 2017, Oupai signed a contract with HAMA for about 30 million euros, with a total of 307 stand-alone equipment, including 79 panel cutting machines, 103 edge banding machines and 125 CNC machines, of which 33 were produced by HAMA’s factory in China. Including the 300 devices this time, Oupai will have more than 1,000 devices from Haomai in use.

　　BIESSE, Italy: Multi-products develop together and enjoy industry recovery.BIESSE not only provides equipment for wood processing, but also develops processing equipment for stone, glass, metal, composite materials and other new materials, including carbon fiber, foam, plastic, aluminum and titanium. With the economic recovery in recent years, the company’s various businesses have shown certain growth, but overall, the company’s woodworking machinery business has grown faster than other businesses. In 2016, BIESSE’s timber revenue, glass and stone, and mechatronics accounted for 68%, 14% and 13% respectively.

　　In terms of market share, according to BIESSE’s annual report, in 2016, BIESSE accounted for 12% in the woodworking machinery market (mainly for furniture manufacturing), 20% in the residential market (mainly for wooden buildings), 26% in the glass machinery market and 23% in the stone machinery market. In terms of market size, the current market size of woodworking machinery is about 2,700 million euros, and the potential market size is 3,500 million euros; However, the markets of glass, stone, metal and new materials are relatively small at present, and the overall growth space is relatively large.

　　Although BIESSE has been involved in many non-wood processing machinery fields, and they all occupy a certain market share. But at present, these markets are small, and the market size of wood processing machinery is more than twice that of other markets (glass, stone, metal, new materials, etc.). Moreover, in the past two years, BIESSE’s income growth rate in the woodworking machinery division is higher than other divisions. In the future, BIESSE will mainly increase its market share in the wood processing machinery market, while the income of other branches will mainly benefit from the growth of the industry.

　　From the perspective of income regions, BIESSE’s income structure has the same change as that of Haomai, that is, the proportion of European market has declined, while the proportion of North American and Asian markets has increased. In 2016, the market revenues in Europe, Asia and North America were 58%, 21% and 18% respectively. However, since 14 years, BIESSE’s revenue in Europe has resumed rapid growth. In 2016, its revenue growth in Europe, Asia and North America all exceeded 20%. In the European market, BIESSE’s revenue in this market in 2016 was 358 million euros, a year-on-year increase of 20.8%, which has exceeded the company’s revenue in Europe in 2007.

　　Whole process product layout.Whether it is heroic or BIESSE, it pursues the whole product layout in the whole process of wood processing. Taking Haomai as an example, Haomai supplies from stand-alone equipment for handicraft enterprises to a complete networked production line for highly industrialized and customized furniture production. According to the technical classification, Haomai products not only have equipment that can meet various requirements in important technological parts such as cutting, edge sealing, drilling and surface technology, but also have corresponding products in warehousing technology, sorting, assembly, packaging, automation and other technologies. The whole process equipment has become the basis for providing various automation solutions.

　　In terms of cutting technologyHaomai has various kinds of cutting saws for plates, with the protruding height of the saw blade of 58~190mm and the cutting length of 3200~6500mm. Haomai module45 sawing machine can realize oblique cutting function. Bevel cutting is a daily process in handicraft industry. Usually, this process is completed on a separate cutting disc saw after cutting. However, Haomai HPS 320 flexTec products have revolutionized the cutting technology in batch production, and can realize personalized cutting on a large scale.

　　In terms of edge sealing technologyIn 2009, Haomai launched a new generation of seamless (edge-sealing) technology, laserTec. AirTec is an efficient resource-saving solution, which can significantly improve the productivity of equipment and reduce the noise output. The core of this technology is an innovative rotary air preheater. The "seamless" technology under optics has become the quality standard in the current industry. After years of research and development, the company has launched Ambition series edge banding machine, which is based on intelligent modular system and can be customized according to customer requirements. At the same time, it can be equipped with airTec to achieve seamless edge sealing.

　　In terms of CNC technologyHaomai has a CNC machining center from small to large, and all-round CNC technology from furniture to doors and windows to the production of building components. The entry-level Venture 320 solution is used for industrial series production and laser cutting zero joint bonding, just like a high-performance portal machining center.

　　In terms of software, Haomai launched woodWOP 7 with 3D function, which is the result of years of strategic product development. In addition to a series of new functions, especially the optional CAM plug-in, it is helpful to program a new method of milling path. In addition, you can now use CAM plug-ins and software to automatically calculate the path. The latest version of woodCAD|CAM 12.0 pays more attention to user-friendliness, has a complete user interface, simplifies operation, and achieves the purpose of improving operation efficiency by improving user-friendliness. Improving the user-friendliness of products is also an aspect that Haomai pays more attention to this year.

　　Important trends in solutions.Under the background of moving towards Industry 4.0, providing solutions that can maximize production efficiency is the most important trend of customer demand in the future. Due to the high demand of customized furniture for production flexibility, the solution in the furniture industry not only includes serial production, but also the production with batch as one occupies a prominent position. Through the combination of warehousing, processing, transportation and workpiece processing, personalized network production can be realized, which can provide batch-based solutions to realize the flexibility of production of a wide range of products, and can also provide series production solutions to realize the efficiency of production. As early as 2001, Germany Haomai launched high-efficiency machines in batches, and BIESSE also transformed its previous triangular strategy of dividing customers into a dual strategy of providing integrated units and complete sets of equipment.

　　In 2015, the single machine revenue accounted for 47% of the heroic revenue, and the production line and service revenue accounted for 30% and 21% respectively, and the proportion of production line and service revenue was already at a high level. In 2016, BIESSE was classified by income, and the income of equipment, services and accessories was 83% and 17% respectively; According to the sales volume of equipment, stand-alone products account for 82% and systems account for 18%.

　　IIoT industrial internet of things.BIESSE is currently cooperating with Accenture and Microsoft on an IIOT industrial Internet of Things project to provide customers with new services and enhance the after-sales market. Based on predictive maintenance and in-depth data analysis, we provide flexible services to customers to reduce machine failures and improve production efficiency and customer satisfaction. The company plans to launch a service with 10,000 machines on the basis of successful pilot. BIESSE’s advanced IIOT function will improve its control over equipment and enhance its overall competitive advantage.

　　Haomai exhibited a brand-new digital platform "tapio" in the woodworking industry at the International Woodworking Machinery Exhibition (LIGNA) in Hanover in May 2017. tapio combined the digital products of the whole woodworking industry with hundreds of production machines and diversified materials and tools, and integrated them into an Internet of Things (IoT) platform.

　　The domestic manufacturing industry is picking up, and the trend of furniture customization stimulates enterprises to demand more flexible automatic production lines. Since 2016Q3, the income of domestic panel furniture machinery enterprises Hongya CNC and Nanxing Equipment has resumed high growth. In Q1 2017, Hongya CNC’s operating income was 188.89 million yuan, up 83.3% year-on-year. Nanxing Equipment released the semi-annual performance forecast, and it is estimated that the company’s net profit attributable to shareholders of listed companies in 2017H1 is 36.27 ~ 45.34 million yuan, up 60%~80% year-on-year.

　　At present, domestic enterprises often only focus on some areas of woodworking machinery, such as solid wood furniture machinery and panel furniture machinery. In a certain field, it is only mechanical equipment dedicated to a part of the process. For example, Hongya CNC and Nanxing Equipment, the leading domestic panel furniture machinery, mainly provide the most important edge banding machines, panel saws and multi-row drills in panel furniture production, and have also made some progress in machining centers. In terms of automation solutions, large international enterprises such as Haomai can provide automation solutions for the whole process from warehousing to assembly and packaging, and domestic enterprises gradually provide complete production lines with automatic feeding machines, but they can only be regarded as part of the whole line provided by international enterprises. There is still a big gap between domestic enterprises and international leading enterprises in terms of solutions.

　　On the stand-alone side, such as Hongya CNC, its advantage products are rich in types of edge banding machines, and at the same time, its product performance is constantly improving, and some products have reached the level of import substitution. Compared with foreign enterprises, domestic enterprises have certain advantages in product cost performance and applicability.

　　Investment advice:At present, the global woodworking machinery industry shows a positive recovery, and the domestic market has a strong growth momentum under the catalysis of the trend of customized furniture. The domestic first-line equipment enterprises include Hongya CNC and Nanxing Equipment. It is suggested to focus on leading companies with core advantages in key equipment.

　　Risk extractionshow：The macro environment, especially real estate investment, is uncertain; The competitive pressure brought by increasing domestic investment by multinational enterprises; Technology research and development is less than expected; The intensification of industry competition has led to a decline in gross profit margin.

　　Legal statement (Please swipe to view the full legal statement)

　　The complete investment viewpoint should be based on the complete report issued by GF Securities Research Institute. The sources of information and opinions contained in the complete report are considered reliable by GF Securities, but GF Securities does not guarantee its accuracy or completeness, and the contents of the report are for reference only.

　　This micro-signal push content only reflects the judgment of GF Securities researchers on the day when the complete report is issued, and can be changed at any time without notice. The copyright of this micro signal and its push content belongs to GF Securities, and GF Securities reserves all legal rights to this micro signal and its push content. Without the prior written permission of GF Securities, no institution or individual may copy, publish, reprint or quote in any form, otherwise all the adverse consequences and legal liabilities arising therefrom will be borne by those who copy, copy, publish, reprint or quote privately.

　　G

In the [Easy Car Yancheng Local Car Market Promotion Channel], we sorted out the ongoing
Preferential activities. As a car that has attracted much attention, the current discount rate of Cadillac XT5 is still amazing. The highest discount rate can even reach 134,000, and the lowest starting price is only 265,900. You can win a larger discount rate by clicking the "Inquiry" button in the quotation form. If you are looking for a practical and affordable model, you may wish to learn about the discount of Cadillac XT5.

Let’s take a look at the appearance of Cadillac XT5. The front face of Cadillac XT5 looks very domineering and stylish, and it adopts a three-piece net, which looks more capable. Coupled with the cold headlights, the visual effect is good. The car is equipped with LED daytime running lights, headlight height adjustment, automatic opening and closing, adaptive far and near light, delayed closing and so on. Come to the side of the car, the car body size is 4888MM*1957MM*1698MM, the car uses moving lines, the side gives a very personal feeling, with large-size thick-walled tires, eye-catching shape. In the rear part, the rear looks very avant-garde, and the taillights give people a feeling of very young personality. Together with the unique exhaust pipe, it is still relatively beautiful in general.

Coming into the car, the interior of Cadillac XT5 looks very comfortable and very simple. The steering wheel of the car is well designed and made of genuine leather, giving a good grip experience. Take a look at the central control, with a 33-inch touch-sensitive LCD central control screen, which makes the interior style impressive and looks quite individual. Finally, let’s look at the dashboard and seats. The dashboard design is remarkable and eye-catching. The car uses leather seats, and the seats are wrapped in place, which is basically enough for daily use.

Cadillac XT5 is a very beautiful model, and its streamlined design and sharp lines are impressive. At the same time, the interior space is excellent, and it is very comfortable and spacious for both riding and storage. In addition, it is full of power, equipped with a strong engine, excellent acceleration performance and excellent driving experience. Overall, Cadillac XT5 is a luxury SUV worthy of recommendation.

Who says power is the only criterion for choosing a car? In fact, the quality of a car should be judged by its comprehensive performance. Joint-venture vehicles have always been concerned, and today is one of them. Let’s get to know each other.

Let’s take a look at the appearance of Buick GL8 first. The front face of Buick GL8 is clean and refreshing as a whole, and it looks very fashionable and sporty with multi-frame mesh. Headlights are very in line with consumers’ aesthetics, and the visual effect is very impactful. The car is equipped with LED daytime running lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Coming to the side of the car body, the size of the car body is 5219 mm * 1878 mm * 1807 mm. The car adopts simple and generous lines, and the side of the car presents a stable design style. With large-sized thick-walled tires, the shape is quite sporty. In the design of the rear end, the rear end echoes the front end, the taillights look sharp, and the layout of the exhaust pipe uses a hidden shape, which is very domineering.

Sitting in the car, the interior adopts a full design, and the overall recognition is very high. The car looks very good outside the steering wheel, and it is made of genuine leather, giving people an impulse to control it. From the central control point of view, the 30-inch central control screen is used for decoration, which makes the interior style impressive and meets the aesthetic standards of most consumers. Let’s take a look at the dashboard and seats again. The dashboard design is remarkable and eye-catching. The car uses leather seats, equipped with functions such as electric adjustment of auxiliary seats, electric adjustment of seats, and seat proportion tilting, with exquisite materials and comfortable ride.

The car is equipped with car networking, remote control key, Bluetooth key, rear wiper, interior ambient light, engine start and stop, etc., and the configuration performance is unspeakable, which greatly improves the convenience of using the car.

The Buick GL8 introduced today is not only eye-catching in space, but also has a mainstream configuration, and there is nothing to be picky about driving experience and space experience. If you like this car, don’t hurry to learn more about it!

Interaction of social media: the close connection between stars and fans

In this digital age, social media has become an important platform for interaction between stars and fans. Bao Beier and Cai Ming are active in daily social media, sharing their life and work trends with fans from time to time. This kind of interaction not only makes fans feel close, but also makes them full of expectation and curiosity about the upcoming film.

After the release of the file, there were a lot of comments on social platforms in Bao Beier and Cai Ming, and many fans expressed their support and expectation for the film. Among them, all kinds of creative discussions and fans’ positive suggestions have emerged, forming a good communication atmosphere. This kind of interaction has undoubtedly enhanced the popularity of the film and become an important boost for film promotion.

Comprehensive Evaluation: Looking at "Can’t Stop" from Various Perspectives

Although the withdrawal of the film has caused a lot of controversy, from many angles, it may also be a strategic adjustment made by the film team to present better works. Industry experts believe that although the market competition is cruel, most viewers are more willing to wait for an excellent work that has been carefully polished. From the production of Bao Beier and Cai Ming, their efforts and expectations have been rewarded accordingly, and the industry generally has high hopes for the performance of the two protagonists in the film.

In short, although "Can’t Stop at All" has not yet met the audience, there are various indications that this intergenerational partnership between Bao Beier and Cai Ming will arouse more ripples in the future film and television circle. Whether from the emotional depth of the film or in the face of increasingly complex social relations, this film has the potential to become an important work reflecting family and humanity at present. With the announcement of the new schedule, I believe more audiences will look forward to this film full of laughter and thinking, and look forward to the new experience and touch brought by Bao Beier and Cai Ming.

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　　[XCAR Aika Research Institute original]

　　In China’s automobile market, if a new car can attract people’s attention in a short time, it must be better than other competing products in some aspects, or the price is particularly strong. Recently, there is a car that is quite hot. He is the MG 6 produced by SAIC. The first reason is that it has many excellent industrial designs in appearance, the second is that it has an acceleration time of 0-100km/h of about 7s, and the third is that the starting price is less than 100,000 yuan (96,800 yuan). It can be said that MG 6 is one of the few vehicles with an acceleration time of 0-100km/h close to 7s within 100,000.

　　Let’s take a look at its hardware parameters: the whole system comes standard with a 1.5T small-displacement turbocharged engine code-named SGE, which can match a 6-speed manual or 7-speed DCT gearbox. The maximum output power of the engine is 124kW(169Ps)/1700-4300rpm, and the maximum output torque is 250Nm/1700-4300rpm. In the field of daily family cars, generally, we judge whether the power of a car is good or not. First, we will look at its torque, because the correlation between torque and acceleration feeling is the most direct. This four-cylinder engine with a displacement of 1.5L can produce a maximum torque of 250Nm, and the data performance is very good. In the domestic naturally aspirated engine camp, it is very good that the torque can reach 100Nm/L, and this small displacement engine has achieved a torque output of 250Nm with a displacement of 1.5L L.

　

　　When the new generation Civic was just listed in China, there was an upsurge, mainly because of its 7s acceleration time of 0-100km/h, and this upsurge still has no intention of fading. From the table above, the dynamic parameters of MG 6 are better than those of Honda Civic 1.5T and Angkor Sela 2.0L. This is indeed a very big leap for SAIC in terms of powertrain. In order to find out where this engine is, we came to SAIC to find out by disassembling it.

Cylinder head integrated exhaust manifold

　　After the cylinder head is integrated with the exhaust manifold, a part of the "traditional" exhaust manifold is hidden inside the cylinder head, and the internal water channels are staggered with the high-temperature exhaust manifold. At the cold stage when the engine is just started, the high-temperature gas (200-300℃) discharged from the engine can raise the temperature of the coolant in the water channel as soon as possible. This can reduce the warm-up time of the engine, make the engine enter the normal working temperature in the shortest possible time, and reduce the fuel consumption.

Double VVT variable timing of intake and exhaust

In-cylinder direct injection+center injector

　　In-cylinder direct injection of gasoline engine evolved from diesel engine. It abandoned the traditional port injection of gasoline engine and adopted in-cylinder direct injection, and moved the fuel nozzle from the port into the combustion chamber, which enabled gasoline to burn more fully, improved fuel efficiency, and further improved power and reduced fuel consumption.

Variable displacement oil pump

　　Editor’s comment:Judging from various indicators, the powertrain of the 1.5T turbocharged engine +6MT/7DCT mounted on MG 6 has completely entered the current mainstream performance echelon, and there is no problem with EA211 of Standard Civic and Volkswagen. Our previous measured acceleration time of 0-100km/h for the manual version is only 6.68s, and within the price budget of 100,000, we can hardly find such a powerful vehicle. A few years ago, MG and Roewe, two brands owned by SAIC, made great efforts in vehicle appearance. Recently, several models listed on the market have extremely high values. Now, through the research and development of powertrain, it has brought us such excellent power. Facing the increasingly fierce competition in the China market, all families have to come up with some "dry goods", and the progress of SAIC is obvious to all. Bless it, and hope it can bring more affordable and excellent new models to our consumers.

Special feature of 1905 film network After a lapse of 40 years, the 4K restored version was re-released in Japan on April 15th. As soon as the news came out, it immediately attracted a hot discussion on the Internet. As a famous work of China Kung Fu superstar, the 82nd edition of Shaolin Temple is a collective memory of a generation. When "Shaolin Shaolin" in the lyrics of the theme song sounded, the classic pictures in the movie began to flash in front of people.

On March 16, 2022, the 4K restored version of the trilogy was re-released in France, which also attracted many people’s attention. Earlier, classic domestic old films were also shown in Southeast Asia, North America and other overseas regions. This can’t help but make people ask, what is the significance of these films being shown overseas? What are the intersections between them?　

Business and emotional value coexist.

"I’m so looking forward to it." After learning the news of the re-release of Shaolin Temple, a Japanese netizen commented, "Jet Li’s martial arts actions have a dance-like aesthetic feeling. I want to engrave the’ dance’ that became clearer after 4K repair in my heart. " On January 21st and February 1st, 1982, "Shaolin Temple" was released in China, Hongkong and China, respectively, which set off a nationwide movie-watching frenzy. In the same year, when the film was released in Japan, it also caused a sensation. At that time, it set a box office score of 4 billion yen.

This time, the film will be shown in Japan, which is bound to have certain commercial value considerations. "If it is to be issued overseas, I think it still has certain commercial value, and there must be capital behind it." An industry insider with many years of experience in restoring old movies said so. At present, the restoration of old movies is divided into two ways: manual and AI. In the process of repair, the higher the proportion of labor, the higher the repair cost. For the film side, repairing the master tape has invested a certain cost, and it is bound to have certain expectations for the box office. As for the final box office of the film, it depends on the specific schedule environment and other factors. According to statistics, as of April 7, 2022, the Korean box office of "The True Color of Heroes" and the French box office of Infernal Affairs 1 were 74,000 US dollars and 621,000 US dollars respectively.

"Because there is 4K to fix this thing, it has an excellent opportunity and new value for re-release, just like it was re-released in China more than two years ago." Luo San, executive deputy general manager of 1905 Film Industry, said frankly. "In addition, commemorating the 40th anniversary of the release is also of great significance for the re-release of Shaolin Temple in 2022. The generation of viewers 40 years ago has grown old. For young viewers, the re-release of the restored version is actually equivalent to the premiere. "

　In addition to commercial value, the film provides many viewers with the sentimental value of revisiting the classics. For the vast majority of overseas domestic films, besides box office revenue, the latter is more important. As the saying goes, "Classics will not fade with time, but will become more and more precious". "The cost of doing this is very high. If you don’t pay attention to it, it will be difficult to do it later." Xiao Feng, who has participated in the restoration of old films, believes that such re-released films need more market attention. Previously, the color version of founding ceremony, which the company participated in the restoration, was shown in the mainland in 2021.

　In addition to cinema screening, many old films will be shown overseas by participating in international film festivals. In 2019 and 2020, the director’s "horse thief" and the director’s 4K restored version were shown in the classic unit of Cannes International Film Festival. There are not a few old domestic films released overseas in this way.

According to Zuo Heng, deputy director of the Film Culture Research Office of China Film Archive, the film "horse thief" shown in Cannes is a 4K48 frame version. In the restoration of "horse thief", China Film Archive adopted high frame rate production technology, which achieved more detailed image performance and more realistic visual effects.

Replay keywords overseas

In recent years, the number of overseas reruns of domestic films has been increasing. 4K repair version, high reputation, geography, etc., have become the key words for this kind of film. Whether it is Shaolin Temple, Infernal Affairs trilogy, Farewell My Concubine and other overseas replayed domestic films, the title of the film is usually followed by the word "4K restored version". This is one of their important group characteristics.

On the mainstream scoring platforms such as Douban, high reputation has become another remarkable feature of such works. Among them, there are many high-profile movies with Douban score above 9. The number of people scoring these film platforms ranges from 100,000 to more than 3 million, and the content quality has been tested by the public. Art has no borders, and film, as one of its branches, is the same. The universal values and the brilliant display of human nature in excellent big-screen works often convey warmth and delicate feelings that transcend the gap between language and culture.

　In terms of genre, this kind of films are mainly action films, police films and literary films. Among them, many films have obvious oriental characteristics. In terms of gangster films, most of them are China and Hongkong films. In the first episode of the classic Korean drama "Please Answer 1988", five protagonists gathered in Azeri’s room to watch the Hong Kong film "The True Color of Heroes". According to public information, this film was shown in Korea for many times on May 23rd, 1987 and August 8th, 2008, and even made into a film.

　In the overseas replays of domestic old films, most of them are in Southeast Asia. Based on the geographical cultural exchange, this kind of old films have a high awareness in this area. "Shaolin Temple is definitely a classic in action-type films; The biggest international market for films with the theme of the Three Kingdoms is Japan. " Luo San said that based on the cultural influence of geographical location, such films are more popular and recognizable in Southeast Asia. Kung Fu movies, especially those starring Jet Li and others. In addition, based on the higher awareness of these areas, it can also save a lot of money on the cost of film publicity. The film can put more energy and money into a higher standard of repair quality.

It is worth mentioning that many domestic audiences have inquired about the release time of the restored version in mainland China when they heard the news of the overseas re-release of Shaolin Temple. Many young viewers are looking forward to watching this film on the big screen in China. No matter whether the new and old films "go out to sea", they all shoulder the heavy responsibility of Chinese excellent culture and reflect the rapid development of China society. In the future, overseas audiences will meet more excellent film and television dramas made in China.

Speaking of pure electric SUV, Tesla’s Model Y is definitely a phenomenal product. It has been launched for four years, and it can still easily sell tens of thousands of monthly sales. It is not unusual to dominate the sales list, and even the benchmark Model Y has become a propaganda slogan for new energy brands.

For example, Li Xiang said at the company’s first-quarter earnings report that "the biggest competitor of the ideal L8 is Tesla Model Y"; Li Bin, CEO of Weilai, publicly stated that "there will always be a Model Y”； of Weilai"; Tucki G6, which went public this year, also used the slogan "Don’t want" Y ".

Model Y, which seeks defeat alone, never lacks challengers, but it seems that only it can overcome it. Recently, the 2023 Model Y was officially launched. As an annual redesigned model, the new car offers three configurations, and the details and power configuration are modified. The price is still 263,900-349,900 yuan, further enhancing competitiveness. At present, a new car has arrived at the store.

In terms of appearance, the new car still adopts the family design language, with almost no change in the front face, flat and round light groups embedded on both sides, and a wide lens and LED light source integrated inside to ensure sufficient penetration. The lines of the hood extend downward in a streamlined way, and are sunken inward under the nose of the car, which forms obvious sharpness. The front surrounding part provides trapezoidal heat vents, and additional bent air inlets are designed left and right, which effectively enhances the three-dimensional sense.

The side of the car body is still full, wide and round, the roof is slightly slippery, and the hidden door handle is not absent. At the same time, the new car has a new style of 19-inch blackened wheels and bright brake calipers. The rear part of the car is basically unchanged, and the towering upturned tail echoes the front of the car. The taillights embedded on both sides have a special relief structure, which is "C" shaped after lighting, which is very recognizable.

In terms of body size, the length, width and height of the new Model Y are 4750/1921/1624mm and the wheelbase is 2890mm, respectively.

The interior part is mainly modified for the details. For example, the center console cancels the original wooden decorative board, uses the suede material similar to the new Model 3, and adds 256-color atmosphere lights to effectively enhance the sense of interior grade. The layout has not changed at all, and it is still a 15-inch suspended central control large screen, a three-spoke multi-function steering wheel and an electronic gear shifting mechanism.

In terms of power, the new Model Y rear-wheel drive version is replaced with a high-power motor, and the maximum output is increased to 220 kW and 440 Nm (the old model is 194 kW and 340 Nm), and the zero-hundred acceleration time is shortened by one second to 5.9 seconds. The zero acceleration time of long-endurance all-wheel drive and high-performance all-wheel drive models is still 5 seconds and 3.7 seconds, in which the comprehensive output of long-endurance all-wheel drive system is 331 kW and 559 Nm, and the comprehensive output of high-performance all-wheel drive system is 357 kW and 659 Nm.

In terms of endurance, the CLTC endurance mileage of rear-wheel drive, long-endurance all-wheel drive and high-performance models are 554km, 688km and 615km respectively.

The new car mainly upgrades the dynamic performance of the entry model, and at the same time adjusts the internal and external details. Although the change is not big, it is good that the price is consistent with the old model, and the increase does not increase the price, which can be regarded as improving the competitiveness of the product in disguise.

Editor/Wen Che

Dolphin corpse beach

Over the past decade, hundreds of dolphin carcasses have appeared on the beaches of the North Sea in the Netherlands, Belgium, Britain and Europe. The dead finless porpoise lying on the shore is terrible. Most of their faces were torn, their skin was cut, and their muscle tissue and fat were bitten.

These dolphins have strange stab wounds on their heads. There are 3 ~ 5 parallel scratches next to the wound, unlike those left by a shark bite. So who is such a cruel "murderer"?

Such frequent and cruel killing of finless porpoises has also attracted the attention of marine biologists, and more and more researchers have joined in the search for the real murderer.

Who would treat the finless porpoise so cruelly?

Eleven years ago, the bodies of two young male dolphins appeared on the beach in Belgium. At first, the investigators thought that the fishermen nearby had caught it by mistake, but after examining the bodies, they found that the wounds on the finless porpoises were not cut by fishing nets or engines, so the deaths of the two finless porpoises were not directly related to the fishermen nearby.

Scientists have turned their attention to marine animals that can prey on porpoises. Could sharks, killer whales and other animals prey on porpoises? Although there are sharks and killer whales in this sea area, it is not the two from the wound analysis. Scientists then discovered the key features of the wound. The dolphin had a pair of short, parallel and curved stab wounds on its head, which were obviously left by canine mammals.

The fox is not the murderer.

As a result, the fox who often walks by the sea becomes a suspect. Foxes are canines, with canine teeth, which fit the characteristics of wounds.

But after further study, it was found that the bodies of these dolphins were found when they washed ashore early in the morning, and the fox was Nocturnal Animals. They didn’t have time to bite the dolphins washed ashore, and foxes were excluded. Doubt.

Killer grey seal surfaced.

Finally, marine biologists finally locked in the killer of dolphins:grey seal.The canine teeth spacing of dolphin head wounds is about 5 cm, which is consistent with the canine characteristics of gray seals, who are used to controlling their prey with their forelimbs when hunting. Tag matching.

The next step is to test whether there is gray seal DNA on the wound of finless porpoise to confirm whether this gray seal is the murderer. But the killer’s saliva on the dolphin wound was washed away by the sea water, and the investigation was once again deadlocked.

In the following years, a large number of similar incidents occurred along the North Sea coast of Europe. Many finless porpoises were washed up on the coast, and researchers also observed for the first time that gray seals preyed on finless porpoises. It seems that there must be a direct connection between the death of gray seals and dolphins.

DNA confirms that grey seals can indeed prey on finless porpoises.

In 2014, scientists finally extracted the DNA of the gray seal from the wound of a dolphin corpse. Under a large amount of evidence, the real murderer of the finless porpoise killing incident was finally found. Just looking at the gray seals, no one will associate them with the death of porpoises, because gray seals, like cats, have round heads and big eyes and look very cute and friendly.

Scientists have always believed that gray seals feed on fish, shrimp, crabs, cephalopods and birds, and their food intake should not be very large, and they will not prey on cetaceans such as porpoises at all.

How crazy is the cannibal gray seal?

By the year before last, scientists had found 1081 finless porpoises in coastal areas of various countries. Through wound shape and DNA analysis, at least a quarter of dolphin deaths are related to gray seals.

Through research, it is found that although the gray seal is cute in appearance, it is ruthless in heart. They not only prey on small cetaceans such as porpoises, but also kill and eat each other. Seals are also very dangerous to humans and are likely to attack humans.

Gray seals have become top predators.

Gray seals are strong. The largest male gray seal can reach 3.3 meters in length and weigh 600 Jin, and the largest female gray seal can reach 2. The finless porpoise is the smallest of cetaceans, with a body length of only 1.2 to 1.5 meters. Gray seals have absolute strength in hunting porpoises.

When hunting, gray seals are used to catching their prey with their forelimbs and then inserting their teeth deeply into their prey. They also use this hunting technique to kill porpoises.

Earlier, scientists knew that gray seals often preyed on penguins, but the death of dolphins on the coast appeared one after another, which made people re-understand the cruel side of gray seals. Scientists speculate that gray seals seem to have become the most dangerous top predator in the North Sea.

In the past few decades, the number of gray seals has increased dramatically. There are 180,000 gray seals living in Britain alone, and their habitats and food are very limited, which also leads to fierce competition among gray seals. Willing to try new prey, among which spotted seals, porpoises and even the same kind have become the food of gray seals.

finally

Humans should have a correct understanding of every living thing and their real behavior. They should not understand these animals from the perspective of human beings, so as not to hurt themselves. As for the gray seals, humans should not use them. They should not be "cute" and "demonized".

The picture is from the network and must be deleted.

　　Beijing, February 20 (Reporter Lu Hongqiao) According to the voice of the economy "Tianxia Finance", hot big data is now blooming everywhere, and it has been applied in many industries such as finance, consumption, medical care, transportation and so on, which has exerted great value. In fact, as an inexhaustible "gold mine", big data has many unknown magical uses.

　　NBA teams use big data to train.

　　Anyone who often watches the American men’s basketball professional league, that is, the NBA, knows that the Warriors from California have been doing well in recent years. After the media disclosure, people realized that this team has been training with various big data means. It turned out that the home of the Warriors was near Silicon Valley, and a large number of technology companies took the initiative to find the door and provide black technology to the team. Liu Xiao, vice president of Qianjun Sports, said that although not every team has such conditions, it has become a consensus that big data technology can improve performance. In football, basketball, volleyball and other projects, more and more teams collect big data.

　　Liu Xiao said: "It is mainly collected by two means. The first is wearable devices and various sensors all over wearable devices. The second way to collect data is to use high-speed cameras. "

　　The collected data is very rich, including heart rate, blood pressure, running distance, running route, energy consumption and so on. According to a sports big data industry insider, some teams have collected more than 100 items of data, and they are still increasing. "Data such as what to eat for three meals should be collected. Some teams that pay great attention to science and technology have to fill out a questionnaire before getting up in the morning. How do you feel after getting up? What kind of dream did you have last night? Do you remember, was it a nightmare or a dream? You have to look at these things. These things are the embodiment of your physiological indicators. "

　　Sports big data brings "competition" outside the stadium.

　　Big data is becoming another arena outside the arena. In addition to competing for data collection, each team has to compete in data processing. For example, some teams just focus on a physiological index, and dozens of big data companies provide them with analysis services at the same time. For example, Liu Xiao said that a data analysis result is sometimes a big technical and tactical advantage.

　　Liu Xiao said: "For example, on the basketball court, whether it is better to throw a three-pointer or a two-pointer is better. In an era without data support, everyone relies on experience to make decisions. After the introduction of data, through data analysis, we found that the benefit of voting for three points is greater than that of voting for two points. If you push it back to the training session, you will adjust the players in a targeted manner. Now the whole NBA is playing more and more outside the three-point line. "

　　Industry insiders also told reporters that in addition to helping the team improve its training methods, another major role of big data is to improve predictability and let the team balance its performance and commercial interests. "If a player is injured, he should know how long it will take to recover and how to avoid the least injury. Therefore, many players seem to be good on the court, but they must be replaced because there have been such predictions before, but for other reasons he has to play. "

　　Big data has a broad application prospect in the field of sports.

　　Although there are already many application scenarios, Liu Xiao said that there is still much room for improvement in the application of big data in sports.

　　Liu Xiao said: "Now, in many application fields, firstly, the foundation of our data collection is not solid. Second, we haven’t used data as a tool to guide the whole sport, to guide events and athletes to improve their economic level and state. Therefore, there is a lot of room for improvement in the application of big data in sports. "