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Domestic network animation： from indulging in adaptation to focusing on originality

In recent years, China’s network animation has developed rapidly. According to relevant statistics, in 2019 and 2020, there were 26 and 24 online original animations respectively, and in 2021, it reached 42. By April, 2022, the cumulative broadcast volume of Douluo Continent had exceeded 40 billion times, setting a new high for animation in China. There are also works such as "Breaking the Sky", "Perfect World" and "One Thought of Eternity", with hundreds of millions of broadcasts and high attention. However, corresponding to the sharp increase in the number of works and the hot market response, the quality of many works has been criticized, and there are not many masterpieces that are both applauded and popular. This paradox of upside-down click volume and word-of-mouth should arouse practitioners’ thinking.

We are building a production and broadcasting industry chain with low cost, high efficiency and assembly line.

With the development of video websites, domestic animation has experienced a media shift from TV animation to network animation. The continuous emergence of network animation works has gradually broken the situation that the audience of TV animation is relatively young, and satisfied the diverse needs of audiences of different ages for animation with more diversified positioning. At the beginning, many creators chose the strategy of comic adaptation, and formed the operation mode of "comic+animation company+video platform" in their exploration, and created works such as "100,000 cold jokes". In 2015, the animation "Choosing Heaven" adapted from the online novel of the same name was launched, and online animation entered the era of online adaptation.

Works such as "Breaking the Sky" and "Fighting the Mainland" have sprung up like mushrooms after rain, and online animation has shifted its creative perspective to the field of online novel adaptation. Some works are led by the online literature platform, and the original online novel text is handed over to the animation production company for visual adaptation, and then the finished products are put on the online audio-visual platform to play; Others are directly cooperated by the online literature platform and the online audio-visual platform. For example, the Reading Group and Tencent Group signed the "300-part network text modification plan", creating a low-cost, high-efficiency and streamlined production and broadcasting industry chain.

According to statistics, more than half of the top ten online animations in 2021 are adaptations of online novels. The reason why the animation adapted from the net text has such an amazing amount of play is mainly the result of the superposition effect of fans. Online novels adapted from online animation are often explosive works of online platform and have a large number of fans. Animation production companies also have a group of loyal fans, coupled with the audience’s viewing habits cultivated by the online audio-visual platform after more than ten years, the three have formed a joint force, which has made the number of works adapted from online texts hit record highs.

Facing the polarization of broadcasting and word of mouth

While the adaptation of online text has become the "new darling" of online animation creation, it faces the polarization of broadcasting and word of mouth. Many works are played in hundreds of millions, but the audience evaluation is worrying. For example, in the eleventh chapter of Douluo Continent, the score on Douban dropped from 7.2 to 6.6, while in the first season of The Demon God, it was 6.5, and in the first season of Fighting through the Sky, it was only 5.6. Among the top 50 animations in Douban’s rating list, there are only a handful of animations adapted from online texts. The current network animation creation faces some unavoidable problems.

First, the source is not wide. The text adapted from online text and animation is basically a work that has been a hit on the original online literature platform, and the source of the text is mainly concentrated in a few head writers. These writers have a large fan base, and choosing their works can guarantee the amount of play. The higher the broadcast volume, the more the producer prefers to choose other works of this writer for adaptation, thus falling into the strange circle of one-way text selection. There is a serious homogenization problem in the works of these writers, which drags the creation of online animation into the world of cultivating immortals and fantasy, forming a bad and closed internal cycle.

Second, the style is not high. Some online animations are full of violence, blood and pornography, which can easily distort the audience, especially teenagers’ cognition of the real world. Many online animations tend to be too entertaining, and the proportion of confrontation and cultivation of immortals is too large. There are still many works that blindly rely on the strength of others to challenge their opponents when expressing the growth process of the protagonist. Such a plot also ignores the significance of personal struggle and conveys negative values such as getting something for nothing.

The third is poor quality. The quality of online animation is uneven, especially in the scene, character modeling and duration. For example, in a film, the "Fire Python Tiger" described in the original work is a fierce and domineering beast, but it has become a small and cartoon cat image in the animation, which is neither loyal to the original work nor acceptable to the audience. In terms of the length of time, some online texts have shrunk dramatically. The length of an animation episode is less than 20 minutes, and the effective content is only more than 10 minutes except the opening and closing, and there are a lot of soft advertisements, which seriously affect the viewing experience.

The profound traditional culture of China is still the foundation of creation.

Since June 1st this year, the State Administration of Radio and Television has implemented a licensing system for the distribution of domestic online dramas, which means that the "licensing era" of more standardized and stricter online audiovisual has arrived. In this context, network animation should also improve the level of specialization and standardization, face up to the problem of being addicted to adaptation, devote itself to creating excellent masterpieces that are applauded and popular, and embark on a breakthrough road from adaptation to originality.

It should be noted that teenagers are an important audience for online animation. Therefore, the value orientation of network animation is particularly critical, which is related to helping children to button up the "first button" of life and lay a solid foundation of thought and values. However, in some current online animation works, the values spread are vulgar and negative. Therefore, the creation of online animation needs to further strengthen the sense of orientation, with correct political orientation, healthy ideological orientation, noble moral orientation and rich cultural orientation, so that online animation has soul, affection and love, and truly becomes a spiritual and nutritious feast for the audience.

Orientation is conveyed by telling stories. Therefore, what kind of theme to choose and what kind of story to tell is an urgent problem for network animation creators. We should jump out of the stereotype that the current creation is limited to the adaptation of online literature and open up a broader imagination space. On the one hand, based on tradition, draw nutrition from excellent traditional culture. At present, most of the network animations related to the traditional culture of China are "old wine in new bottles", and the author makes up new content based on fairy tales. Although this has a certain relationship with the traditional culture, it does not excavate and present the traditional culture rigorously and profoundly. China’s traditional culture is extensive and profound, among which there are numerous excellent story texts, including not only fairy tales, but also legendary historical events, heroes and classical opera stories. Network animation should select more excellent story texts to create. On the other hand, keep close to reality and create more works that closely follow the main theme. In recent years, a number of animation works have been deeply excavated and diversified around important time nodes and major events such as poverty alleviation and the centenary of the founding of the Party, which have been welcomed by the audience. For example, Diary of the King, from the perspective of an orange cat, introduces the cause of poverty alleviation and teaching in China, bringing a warm and meaningful viewing experience to the audience. It can be seen that while showing people’s imaginative world, online animation should also pay more attention to the real world, aim the lens at ordinary people in life and interpret their extraordinary stories, so as to make the creation more practical and social.

Creators should also focus on the aesthetic field and take the aesthetic implication of creating China characteristics as their conscious pursuit. In the middle and late last century, Shanghai Animation Film Studio and other China’s animation works were world-renowned, creating the animation forms of ink painting, paper cutting and origami, and produced works such as Little Tadpole Looking for Mom, Mountain Scenery, Mudi and Deer Bell, which attracted foreign animation directors to learn from their teachers. However, with the development of China animation to today’s network animation stage, the traditional aesthetic implication of China is somewhat thin. Many works are influenced by foreign animation styles and lack distinctive local characteristics. Therefore, network animation should dig deep into China’s aesthetic wealth and create more excellent animation works that reflect China’s aesthetic style. In addition, aesthetics and technology go hand in hand, so how to innovate science and technology and improve art and technology simultaneously is an important development trend of network animation. At present, VR and AR technologies are relatively mature, and network animation can be actively used in the creative process, which makes the creation by going up one flight of stairs in visual presentation.

In short, network animation, as a new variant of domestic animation, has great development potential. Creators should adhere to the concept of integrity and innovation, enhance their original ability, enrich artistic expression, convey mainstream values silently, create more classic artistic images, create more far-reaching works of art, and improve the overall quality of China animation, so as to make it an important force to enhance cultural self-confidence and boost culture to the sea.

??(Author: Liu Hanwen, Professor of Communication College of Fujian Normal University, Zheng Zekun, Master of Communication College of Fujian Normal University in 2021)

News of sharp price reduction in Tianjin area, with a special price of 198,800! There are plenty of cars.

[car home Tianjin Preferential Promotion Channel] Recently, it has ushered in a heavy discount in the Tianjin market, with a maximum discount range of 28,000 yuan and a minimum starting price of 198,800 yuan. As a highly regarded SUV model, Sharp has attracted the attention of many consumers. If you are interested in Sharp, you may wish to click the "Check Car Price" button in the quotation form to get a higher discount.

天津地区锐界降价消息，特价19.88万！现车充足

Sharp’s exterior design is full of power, and the front face adopts a large air intake grille, which, combined with sharp headlights, shows a strong gas field. The body lines are smooth and well-defined, and the overall style is both fashionable and atmospheric.

天津地区锐界降价消息，特价19.88万！现车充足

Sharp body size is 5000mm long, 1961mm wide, 1773mm high and the wheelbase is 2950mm, which makes it have spacious interior space and good ride comfort. The side lines of the car body are smooth, showing the atmosphere and steady temperament. Equipped with 19-inch rims, tyre size is 255/60 R19, which not only improves the handling performance of the vehicle, but also shows the fashionable rim style.

天津地区锐界降价消息，特价19.88万！现车充足

Sharp’s interior design style is full of sense of technology and luxury. The center console is equipped with a 13.2-inch large central control screen, which integrates multimedia system, navigation, telephone and voice recognition control system of air conditioner to facilitate the driver’s operation during driving. The steering wheel is made of leather material, which feels comfortable and supports manual adjustment up and down and back and forth, so that drivers of different heights and sizes can find suitable holding positions. In addition, the car is equipped with multiple USB and Type-C interfaces. There are 3 interfaces in the front row and 2 interfaces in the back row, which is convenient for passengers to connect electronic equipment. In terms of seats, Sharp adopts imitation leather material, and the main driver’s seat supports front and rear adjustment, backrest adjustment, height adjustment (4-way) and lumbar support (2-way), which provides excellent comfort for drivers. The co-pilot seat also has the functions of fore-and-aft adjustment, backrest adjustment and height adjustment (2-way), while the second row of seats is also equipped with fore-and-aft and backrest adjustment functions, and the rear seats can be tilted in proportion to meet diverse storage needs.

天津地区锐界降价消息，特价19.88万！现车充足

Sharp is equipped with a 2.0T 252 horsepower L4 engine with a maximum power of 185kW and a maximum torque of 378 N m. With the 8-speed automatic transmission, it provides abundant power output and smooth shifting experience.

Car home car owners are full of praise for Sharp’s exterior design. He thinks this car is very handsome and beautiful. It not only has super high appeal, but also makes people feel excited. Especially for young people nowadays, high-value cars are definitely more popular. Sharp’s front design is full of domineering, and the embellishment of the grille and headlights in the middle net makes it more dazzling and charming. The body line design is obvious, angular and contoured, and its high recognition makes it stand out in the car sea. Every time he drives out to a party, he can always hear others praise the appearance of the car, which makes him feel particularly proud.

Is the power output of tank 300 smooth？

Power output of tank 300Smooth and strong. It is equipped with a 2.0T turbocharged engine with a maximum power of 167 HP and a peak torque of 387 Nm. It is equipped with a 7-speed wet powershift or 8AT gearbox, which makes it perform well in various driving scenarios.

In the actual driving process, the power output of the tank 300 is linear and smooth. Although it lacks explosive power at the beginning, it does not hinder its overall driving experience. It is more like a naturally aspirated car, and the whole acceleration process is very smooth without abrupt changes. This smooth acceleration feeling brings the driver a comfortable driving experience.

The 8AT gearbox has excellent matching performance with the engine, and the gear shifting is crisp and neat, and the response is quick. Especially when downshifting is needed, the gearbox will respond to the driver’s operation quickly to ensure the consistency of power output. When accelerating in the middle and rear section, the tank 300 can still provide sufficient power. When overtaking, the vehicle can respond immediately and provide the required power support by stepping on the accelerator.

The ZF gearbox carried by the tank 300 has a rapid start, smooth and smooth acceleration power output, positive gear shifting and no delay. Whether it is running muddy roads or climbing hills in mountainous areas, the tank 300 can easily cope with it, showing a strong passing ability.

It should be noted that because the tank 300 uses a turbocharged engine, the power output in the first stage at the start may be slightly insufficient. If you pursue a strong sense of explosion at the beginning, you may feel that the tank 300 is slightly insufficient. But on the whole, the power output of tank 300 can meet the needs of drivers in most cases, and its performance is excellent, and its ride comfort is worthy of recognition.

A tutorial on how to fly a plane in pairs.

The method of flying a plane in pairs is divided into sixteen points.

1. Two people flying in a row need the cooperation of both sides. Cody flies the plane and May hits the obstacle. This level is urgent. At first, Mei fired bullets at the straw door coming down ahead, the door burned and the plane passed. Be sure to pay attention to the time, otherwise it will hit and the plane will crash.

May hit the battery nearby, so don’t hit the plane.

3. the location of the fork in the road, you can go twice, and choose to go to the left here.

4. This is a wooden door, which can’t be destroyed. We should fly there before the wooden door closes.

5. After passing, you will encounter obstacles in the road, so pay attention to flying to avoid them.

6. The wooden door in front is closed from all sides, so you should drive at full speed and pay attention to seize the time to fly over.

7. After flying over, there will be fighter planes in the rear, and Mei will turn around and destroy the enemy planes.

8. At the same time, pay attention to the obstacles ahead and destroy them, otherwise the plane will hit it.

9. There are three holes here. Just hit one, and you can hit which one.

10. You can go outside through the front door.

11. There is a mole outside. May fights with the mole on the plane, and Cody flies the plane. Just keep it steady.

12. enter the sewer after defeating the mole.

13. This place needs two people to fly the plane together, and use the principle of leverage to balance the plane, that is, two people are on both sides and the plane flies horizontally.

14. When two people climb to one side, the plane turns to that side. The turning range can be controlled by the distance from the center point, and players can experience it when playing.

15. Fly over the hole in front.

16. Successfully passed the checkpoint of flying a plane.

20 fatal shortcomings of Volkswagen LaVida, why can’t you buy Volkswagen LaVida？ Tell you today

As a popular family car model, it is deeply loved by consumers. However, like any model, Volkswagen also has some shortcomings. This paper will list 20 fatal shortcomings of Volkswagen LaVida from many aspects, such as space comfort, reliability, maintenance and so on, to help consumers understand this model more comprehensively.

Although Volkswagen LaVida is relatively large in overall body size, the legroom of its rear passengers is relatively small. For consumers who need to ride in the back row frequently, the comfort may be affected to some extent.

The seat adjustment function of Volkswagen LaVida is relatively simple, lacking some advanced adjustment functions. This may limit the individual needs of passengers in terms of riding posture and comfort.

The storage space of Volkswagen LaVida is relatively small, especially in the trunk. This may limit the flexibility of passengers in carrying luggage and shopping, which is not practical enough.

Although the power of Volkswagen LaVida is not bad, its power performance may be average compared with some competitors. The power output during acceleration and climbing is relatively smooth, which may not satisfy the pursuit of driving pleasure and passion.

The suspension system of Volkswagen LaVida is relatively hard to adjust, which may affect the ride comfort, especially when dealing with potholes or bumpy roads.

The safety configuration of Volkswagen LaVida is relatively general, and it may lack some advanced safety functions and auxiliary systems, such as active brake assistance and blind spot monitoring. For consumers with high requirements for improving driving safety, they may need to consider other models.

Although Volkswagen LaVida has made some optimizations in engine technology and power transmission system, compared with some competitors of the same level, its fuel consumption may be slightly higher, which will increase the use cost.

The design of Volkswagen LaVida is relatively conservative, lacking unique design elements and fashion sense. If consumers have higher requirements on the personalization and attractiveness of vehicle appearance, Volkswagen LaVida may not be the best choice.

The rear seat function of Volkswagen LaVida is relatively simple and cannot be folded or adjusted, which limits the flexibility of passengers in storage space and ride comfort.

Although Volkswagen LaVida performs well in terms of stability and maneuverability, its maneuverability may be slightly inferior to that of some competitors. If consumers have higher requirements for vehicle handling performance, they may need to consider other models.

Some consumers report that LaVida is relatively noisy when driving at high speed, especially in terms of wind noise and tire noise. Consumers who have high requirements for vehicle noise control may be dissatisfied with this.

Volkswagen LaVida has relatively few optional configurations and cannot be customized according to individual needs. If consumers have higher requirements on the choice and personalization of vehicle configuration, they may need to consider other models.

Some consumers report that the air output of the rear air conditioner of Volkswagen LaVida is small, which will affect the comfort of the rear passengers.

The rear passengers of Volkswagen LaVida can’t easily use USB interface to charge or connect devices. In modern society, it may be inconvenient for users who have multiple passengers using electronic equipment at the same time.

Some vulnerable parts of Volkswagen LaVida, such as brake pads and clutches, have high maintenance costs. This may increase the cost of vehicle maintenance and maintenance.

The interior design of Volkswagen LaVida is relatively conservative, lacking innovation and individuality. This may not meet the requirements of consumers with high interior design style.

Some consumers report that LaVida has some limitations in driving vision, and the front and rear views may not be wide enough.

The remote control key function of Volkswagen LaVida is relatively few, which may lack some convenient functions when approaching the vehicle, such as one-button start.

Volkswagen LaVida’s body warranty period is relatively short, which may have a certain impact on consumers’ after-sales protection.

Twenty, the price is relatively high:

Compared with some competitors at the same level, the price of Volkswagen LaVida is higher. For consumers who pay attention to cost performance, they may have to pay a certain premium.

Although Volkswagen LaVida is a family car model favored by consumers, it also has some fatal shortcomings from the aspects of cramped rear space and general power performance, limited safety configuration and general noise control. When purchasing LaVida, consumers should comprehensively consider its advantages and disadvantages and make the most suitable decision according to their personal needs and preferences.

Disclaimer: The above views only represent the author’s personal views, and the final car purchase decision should be based on your own actual needs and preferences. I hope this article is helpful to you!

Leshan area eπ 008 is being discounted! Latest offer 188,600, limited-time special offer

[Autohome Leshan Discount Promotion Channel] Recently, a significant price reduction promotion has been ushered in in the Leshan area, with a maximum discount of 28,000 yuan and a minimum starting price of only 188,600 yuan. In order to meet the needs of consumers, we have specially compiled a detailed quotation form, including preferential information for various models. If you are interested in buying eπ 008, please be sure to click "Check Car Price" in the quotation form to get higher discounts.

乐山地区eπ008正在优惠！最新报价18.86万，限时特惠

The exterior design of the eπ 008 is full of futuristic and technological sense. The front face part adopts a closed design, showing a strong futuristic style. The air intake grille is cleverly integrated into the front face lines and integrated with the overall shape, which not only enhances the aerodynamic performance of the vehicle, but also adds a sense of visual hierarchy. The overall style is simple without losing a sense of power, and the body lines are smooth and dynamic, showing a strong sporty atmosphere.

eπ008车身尺寸为5002*1972*1732mm，轴距达到3025mm，拥有宽敞的内部空间。其侧身线条流畅，搭配265/45 R21的轮胎规格，彰显动感与豪华。轮圈采用独特设计，增强了整车的视觉效果和运动气息。

乐山地区eπ008正在优惠！最新报价18.86万，限时特惠

eπ008的内饰采用了简约而现代的设计风格，营造出科技感十足的驾驶舱氛围。方向盘采用了皮质材质，提供了良好的握感，并支持手动上下和前后调节，以适应不同驾驶者的个性化需求。中控台配备了一块15.6英寸的大尺寸触摸屏，集成了多媒体系统、导航、电话和空调等丰富的功能，并支持语音识别控制，提升了驾驶的便捷性。车内配备有多个USB和Type-C接口，方便乘客为各种设备充电，并在前排配备了手机无线充电功能。座椅方面，eπ008使用了仿皮材质，主驾驶座椅和副驾驶座椅均可实现前后、靠背、高低和腰部支撑调节，同时主驾驶位座椅还配备了加热、通风功能和头枕扬声器，提升了乘坐舒适性。此外，电动座椅记忆功能不仅应用于驾驶位和副驾驶位，还延伸到后排座椅，让乘客能够享受到更多定制化的乘坐体验。第二排座椅也具备前后、靠背和腿托调节功能，并且后排座椅支持比例放倒，增加了行李空间的灵活性。

乐山地区eπ008正在优惠！最新报价18.86万，限时特惠

eπ008搭载了一台1.5T 147马力的L4发动机，最大功率为108kW，最大扭矩为210N·m，与电动车单速变速箱相匹配，为车辆提供了强劲的动力输出和平顺的驾驶体验。

汽车之家车主对eπ008给予了高度评价：“外观大气时尚，不说价格的话都以为得三十?了”，这一评价不仅反映了eπ008的外观设计备受赞誉，同时也突显了其物超所值的性价比，让人不禁对这款车型刮目相看。

Geely released ＂Our Basketball＂ to create user-generated events and continue to create happiness for users

　　International Online Car Channel News: On September 28, the "Our Basketball" Geely Xinbingyue Basketball Rising Star Selection Finals kicked off in Beijing Wukesong. Du Feng, the national men’s basketball coach, and Fang Shuo, the CBA star player, came to the scene to watch and guide, and 8 championship teams from Chengdu City, Sichuan Province, Kunming City, Yunnan Province, Changsha City, Hunan Province, and Hangzhou City, Zhejiang Province competed fiercely. Finally, the Hangzhou Never Say Defeat Team and Changsha Three Seconds District Team won the championship of the owner group and the social group respectively, living up to their love.

[Car Channel News + Highlights List] Geely released "Our Basketball" users to create competitions and continue to create happy _fororder_image001 for users

Our basketball

　　On the day of the finals, Geely Automobile also officially released the "Our Basketball" user co-creation event IP. In the future, it will join the Basketball Association and CBA club to provide a stage for more young people who love basketball to realize their dreams, provide support for basketball promotion and national sports fitness, and play with more people to create happiness.

　　10,000 people signed up, 100 teams participated, and love was expressed with victory

　　Since its launch in June 2021, the New Colorful Basketball Rising Star Selection Tournament has been successfully held in Chengdu, Kunming, Changsha and Hangzhou, attracting more than 10,000 online and offline registrations to participate, triggering a national basketball craze. Social basketball fans, including Colorful car owners, spontaneously formed 128 teams to participate. After more than 3 months of intense competition and layers of selection, 4 car owners’ teams and 4 social teams successfully advanced to the finals, opening the peak battle.

[Car Channel News + Highlights List] Geely released "Our Basketball" users to create competitions and continue to create happy _fororder_image003 for users

Our basketball

　　The finals were launched in the form of 3v3 team competition and 1v1 individual competition. In the morning, the 4 Jin 2 semi-finals started first, and 4 car owners’ teams and 4 social teams played 50-minute wheel battles respectively. The teams with the top two points in each group were eligible for promotion. The competition in the afternoon finals was more intense. Du Feng and Fang Shuo served as the coaches of the final teams and gave strategic guidance on the scene of the competition. The players of both sides did their best to break through quickly, attack agilely, and defend flexibly, showing their personal skills and team strength, battle spirit and victory belief.

[Car Channel News + Highlights List] Geely released "Our Basketball" users to create competitions and continue to create happy _fororder_image005 for users

Our basketball

　　In the end, the Hangzhou Never Say Never team of the car owner group and the Changsha three-second district team of the social group won the game, won the championship of the finals, and gained a new colorful car and the opportunity to try out Du Feng and Fang Shuo in the training camp.

[Car Channel News + Highlights List] Geely released "Our Basketball" users to create competitions and continue to create happy _fororder_image007 for users

Our basketball

　　It is worth mentioning that the dunk performance interspersed in the game also won applause on the spot. Dunk by hand, turn around in the air, dunk by fancy dunk, etc. are enjoyable! The perfect combination of strong personal strength and amazing basketball art can be called a visual feast.

　　Dare to love and fight, Xinbingyue "support" to cheer for the dream　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　

　　On the court, the strong confrontation is in full swing; the new Colorful, the tide of the debut strength to help out. As a global model for young people, Colorful with the BMA architecture of the natural good foundation, 7.9 seconds zero hundred acceleration of strong performance, and more personalized and sporty appearance styling, listed for 34 months hot-selling 370,000, firmly ranked first in the Chinese brand of small SUV, is a veritable "Chinese steel cannon" in the hearts of countless people.

[Car Channel News + Highlights List] Geely released "Our Basketball" users to create competitions and continue to create happy _fororder_image009 for users

New Colorado

　　The newly rejuvenated Xinbingyue has a more trendy sports positioning. The new energy storm front face, sports two-color body, borderless grille, energy pulse decoration, blackened wheels and other designs fully demonstrate the high-performance combat atmosphere; the new track mode and ejection start are added, and the optional sound wave kit further strengthens the sports attributes of the vehicle; the more powerful L2-level intelligent driving system, the Geely Galaxy OS system based on the E02 platform, and the leading intelligent technology configuration that supports the FOTA cloud upgrade of the whole vehicle make Xinbingyue lead the trend of travel in all aspects and become the best playmate in the hearts of Generation Z young people.

[Car Channel News + Highlights List] Geely released "Our Basketball" users to create competitions and continue to create happy _fororder_image011 for users

New Colorado

　　As a post-90s player, Fang Shuo, a star CBA player, praised after a test drive experience of Xinbingyue: "The design of the exterior and interior is very in line with the aesthetics of young people, and the sporty performance and intelligent interconnection are also very impressive, especially the 7.9-second zero-hundred acceleration performance and ejection start, which surprised me. As the first trendy SUV for young people, Xinbingyue is indeed very suitable."

　　In the eyes of the relevant person in charge of Geely Automobile, Xinbingyue and basketball are also naturally in harmony: "Basketball is a national sport and has a wide mass base in China. Xinbingyue is a popular model of Geely and is deeply loved by young users. Competing for youth and fighting for love is the product image of Xinbingyue, and it is also the basketball belief in the hearts of many young people." The holding of the Xinbingyue Basketball Rising Star Selection Tournament will provide a stage for young people who love basketball to bravely play and express themselves, accompany young people to grow and transform, and achieve a more outstanding self.

　　Create "Our Basketball" users to co-create events and practice "Greatness for Happiness"

　　The love is endless and the battle is endless. The New Colorful Basketball Rising Star Trials have come to a successful conclusion, but the journey of "our basketball" has just begun.

[Car Channel News + Highlights List] Geely released "Our Basketball" users to create competitions and continue to create happy _fororder_image013 for users

Our basketball

　　At the finals, under the joint witness of Du Feng, Fang Shuo and the user manager, Geely Automobile officially released the "Our Basketball" user co-creation event. "Our Basketball" is not only a new exploration of Geely’s "Our" user brand, but also the most direct expression of the "Great Because of Happiness" brand value proposition. Users are not only participants in the game, but also the host and co-creator of the event. Geely always plays with users and continues to create happiness for users. As a circle expansion event co-created by Xinbingyue and young users, "Our Basketball" will continue to convey the product image of Geely’s trendy series "young, trendy and sports", and will become the exclusive IP of Geely’s trendy series in the future, providing a stage for more young people who love basketball to realize their dreams.

[Car Channel News + Highlights List] Geely released "Our Basketball" users to create competitions and continue to create happy _fororder_image015 for users

Our basketball

　　Participation by the whole people, all-out efforts and all-out enjoyment are the distinct connotations of "our basketball". The relevant person in charge of Geely Automobile said: "This is a true national basketball event, and we hope that any young person with the spirit of battle can participate in it. This is also an event that does not necessarily have to win, but is never afraid of losing. We will do our best when we play, and enjoy winning and losing. We hope that everyone can play easily with a’come and play ‘mentality, enjoy the game, and share growth and happiness."

　　In the future, Geely Automobile will join hands with basketball associations, CBA clubs and other sports organizations and institutions to create a series of exciting basketball events with users under the name of "our basketball", encourage more young basketball fans to live up to their youth and pursue their dreams bravely, and practice corporate social responsibility with practical actions to contribute to the promotion of basketball in China and the cause of national sports and fitness. (Image source: Geely Automobile)

Q2 lost more than 2.7 billion, and Weilai, who sells such expensive cars, can’t make any money？

Recently, Weilai announced the Q2 financial report for 2022. According to the financial report, its revenue in the second quarter was 10.29 billion yuan, a year-on-year increase of 21.8%. It is worth mentioning that this is also the first time that Weilai’s revenue has exceeded 10 billion. However, just when we expected Weilai to turn losses into profits, we found that the loss of Weilai Automobile in the second quarter was as high as 2,757.5 million yuan, which was 369.6% higher than that of the same period last year and 54.7% higher than that of Q1 this year.

In fact, Weilai also has a number of new cars listed this year, and the product line is not thin, at least it is much stronger than ideal. Moreover, Wei has been insisting on the idea of changing electricity for many years, which is also one of the important solutions that can effectively solve the anxiety of pure trams. Then the question is coming. Since the outside world is so optimistic, why did Weilai fall into the strange circle of "selling more but losing more"?

Thanks to a lot of sales, why can’t Wei Lai make money?

In fact, Weilai’s revenue performance is really bright enough, but the problem lies in the gross profit margin of Weilai’s vehicle sales. Presumably, you should have heard the news about the price increase of auto parts some time ago. Especially in the second quarter, due to the sharp increase in battery costs, the gross profit margin of Weilai vehicles fell to 16.7%. In the first quarter of this year, the gross profit margin of Weilai vehicle was still 18.1%, which was as high as 20.3% compared with the same period last year.

In fact, the pricing of Weilai products is not low, but from the perspective of gross profit margin, the cost of Weilai in other places has obviously dragged down the gross profit margin of the whole vehicle. If Weilai can’t get a profit margin within the current price range, then Weilai’s future development prospects are still grim.

In addition, Weilai’s increasing investment in technology research and development is also an important reason for the loss. According to the financial report, the R&D expenses of Weilai Q2 reached 2,149.5 million yuan, an increase of 143.2% compared with the same period last year. The expenditure cost here mainly lies in the increase of personnel cost, the design and development cost of new products and technologies.

Although, we believe that an enterprise wants to develop stably for a long time, it must be inseparable from technological innovation and research and development, but we must know that in the past six quarters, Weilai Automobile has accumulated losses of 15.14 billion yuan. How long will Weilai’s cash flow last if it has been in a state of increasing income without increasing profits?

Sales have been overtaken by the second camp. Is there any chance for Weilai?

Some time ago, major new energy vehicle companies announced their own sales in August. Wei Lai, among the new forces, has been surpassed by Nezha and Zero Run, two former younger brothers. According to the data, in August, the sales volume of Weilai was only 10,677, that of Nezha was 16,017, and that of retail was 12,525. This is awkward for Wei. After all, I used to get the first place in the sales list from time to time, but now I am surpassed by my younger brothers. It is really indecent.

According to the financial report data, the delivery volume of Weilai vehicles in the second quarter reached 25,059, including 3,681 ES8, 9,914 ES6, 4,715 EC6 and 6,749 ET7, which was 14.4% higher than that in the second quarter of 2021 and 2.8% lower than that in the first quarter of 2022. Regarding the decline of data, Weilai’s explanation is mainly influenced by epidemic situation, extreme weather and supply chain.

Of course, we all know that these excuses are just excuses. At present, the biggest problem of Weilai is actually the alternation of new and old products. Moreover, whether Weilai’s car products can continue the strength of the previous SUV market and make a big splash in the same level remains to be verified by the market. After all, for domestic consumers, everyone’s interest in SUV is obviously stronger than that of car products.

Then, it is not known whether Weilai can rely on new products to regain the top spot in the sales of new forces. But for investors, if you don’t make money and your sales position is unstable, why should I invest my money in you?

Will the strong rise of the world shake Weilai’s market position?

In fact, from the data in August, the former "Wei Xiaoli" has declined in sales. Aside from the big environmental factors, the strong rise of competitors brings a stronger sense of oppression. For example, although traditional car companies are late in the field of new energy, after all, the new energy track is not a sprint performance, but a marathon.

In the sales in August, we can see that the sales of Ai ‘an, which is backed by GAC, have far surpassed those of a number of new players. Of course, Ian also likes to "package" himself as a member of the new forces, but in fact he just wants to paint a tiger as a cat. Besides, the market of Ai ‘an is mainly at the B end, which is not worth mentioning. In addition, the rise of krypton is a bit surprising to us. After all, although it is backed by Geely, the sense of existence is not very strong. However, judging from the current extremely embarrassing momentum, the possibility of confronting Weilai will not be ruled out in the future.

Of course, what we are more optimistic about is actually AITO asking the world. As a new brand that has been in the limelight recently, AITO has indeed achieved good results. In particular, it has set a record of the fastest monthly sales of over 10,000 in China, which is enough to attract people’s attention. Of course, the reason why the series of products in the world can achieve such results is naturally inseparable from Huawei’s technology and channel support.

In terms of technology, Wenjie series has Huawei’s advanced three-electricity technology, especially the pure electric version of Wenjie M5 has been officially listed, so it is not too far away. Therefore, after bursting the ideal, it may be Wei’s turn to ask the next benchmarking object. You know, apart from the advanced power system, the car is also equipped with HarmonyOS OS, and it is definitely a leader in equipment interaction. From this point of view alone, the gap between Weilai and the world in product strength is still quite large.

Furthermore, according to reliable information, the M5 EV will be displayed in 180+ cities and 820+ Huawei stores nationwide. It is not difficult to see from this news that Huawei’s more than 820 stores will help the world to quickly complete product coverage, which is also far behind Weilai and the ideals. Therefore, although AITO started late, but relying on Huawei as a big tree to enjoy the cool air, the chances of overtaking in corners in the future are still quite great.

Write it at the end

In our view, it is also very important to ensure the normal operation of capital flow in many difficulties that Weilai faces. I don’t know how many people still remember that in June this year, a paper report by Grizzly Research, a foreign short-selling institution, targeted Weilai and pointed out that its performance was fraudulent. In this regard, Weilai also set up an independent Committee of the board of directors internally and conducted an investigation with the assistance of a third party. Of course, the survey results must prove that the short report is unfounded. But then again, our own people investigate our own people. Although there is a so-called third party, how convincing can the survey results be? I believe that the eyes of the masses are discerning. I just don’t know what the investors’ eyes are like.

In the face of the ＂cliff-like＂ decline in the price of centralized mining, how to deal with the heart stent enterprises？

Sheng: the "past lives" of heart stent

Cardiac stent, also known as coronary stent, is a high-value consumable commonly used in percutaneous coronary intervention (PCI), which has the function of dredging arterial blood vessels and is recognized as a conventional treatment for cardiovascular diseases. Since the first generation of stents went on the market in 1997, the development of cardiac stents has gone through three stages, the first generation is the balloon expansion era, the second generation is the bare metal stent era, the third era is the drug-eluting stent era, and it is now moving towards the fourth generation of completely degradable stents. With the continuous evolution of materials, the performance is more and more optimized. The main features of each generation of cardiac stents are as follows:

Fig. 1 Development of cardiac stent. png

Fig. 1 development of cardiac stent

At present, non-degradable drug eluting stent,DES) is still the mainstream choice for clinical application, and fully degradable stent is still in the early stage of product development and clinical application. At present, the mainstream cardiac stents in the market are still drug-eluting stents, and the market share has remained at around 99% since 2012, and balloons and bare metal stents have been completely replaced by them. Biodegradable stents (BRS) can be gradually absorbed in the body, which can significantly reduce the formation of stent thrombosis and restenosis, at the same time, it will not affect MRI and CT scanning, and also facilitate the re-intervention process. It is the main direction of stent research and development in the world, and has attracted extensive attention from medical device companies at home and abroad. At present, the fully degradable heart stents put into research and development are mainly divided into two categories: degradable metal materials and degradable polymer materials.

Figure 2. png, the main type of cardiac stent currently in use.

Fig. 2 Types of mainstream cardiac stents currently in use

(A) In recent years, the demand for cardiac stents has been increasing, and the scale has steadily increased.

1. The number of PCI interventions in China ranks first in the world, and the number of PCI interventions has increased by over 15% annually in recent five years.

From 2015 to 2019, the number of cases of percutaneous coronary intervention (PCI) in China increased steadily, with an average annual increase of 16.0%. Among them, the number of percutaneous coronary intervention (PCI) in China in 2019 was 1.03 million, ranking first in the world, with an increase of 12.6% compared with 2018. It is conservatively estimated that there will be nearly 1.2 million cases of percutaneous coronary intervention (PCI) in China in 2020.

Fig. 3 Trends of PCI operation volume in China from 2015 to 2020. png

Fig. 3 Trends of PCI operation volume in China from 2015 to 2020 (data source: analysis by Health Research Institute).

In 2020, the market value of heart stents in China is close to 17.5 billion yuan.

From 2015 to 2019, the number of cardiac stents implanted in China showed a steady growth trend year by year, with an annual growth rate of 15%-20%. In 2019, the number of cardiac stents implanted in China was 1.6 million. In terms of market value, the market value of heart stents in China increased from 9.75 billion yuan to 15.97 billion yuan from 2015 to 2019, with an average annual growth rate of 15.2%. It is estimated that the market value will be close to 17.5 billion yuan in 2020.

Fig. 4 Trend of cardiac stent implantation amount and scale in China from 2015 to 2020. png

Fig. 4 Trend chart of cardiac stent implantation quantity and scale in China from 2015 to 2020 (data source: analysis by Health Research Institute).

(B) The "market just needs+policy orientation+technology promotion" troika escorts the rapid development of the cardiac stent industry.

1. The market just needs:The two major trends of younger coronary heart disease and aging population have once again "expanded" the cardiac stent market.

Younger coronary heart disease:Cardiovascular disease has become the number one health killer in the world, accounting for nearly 30% of the total global deaths. According to China Cardiovascular Health and Disease Report 2019, the number of cardiovascular patients in China reached 330 million, accounting for more than 45% of the deaths of residents, ranking first among all diseases. Among them, the number of patients with coronary heart disease has reached 11 million, with more than 3 million new patients each year and more than 1 million patients with sudden infarction. In addition, the younger trend of coronary heart disease (CHD) is increasing. According to a survey of cardiovascular diseases among more than 20,000 people in Shanghai, the number of patients with CHD accounts for nearly 30%, of which 27.0% are over 70 years old, 40.0% are 51-70 years old, and 33.0% are under 50 years old. CHD is no longer a "patent" for the elderly, and it is obese, stressful and stressful.

Fig. 5 Proportion of cardiovascular disease population structure. png

Figure 5 Proportion of cardiovascular disease population structure (data source: public information)

Aging:According to statistics, in 2019, the population aged 65 and above accounted for 12.6% in China. From the development trend, the population aging speed and scale in China are unprecedented. After 2022, China will enter a deeply aging society with a proportion of over 14.0%, a super aging society with a proportion of over 20.0% around 2033, and then it will continue to rise to 35.0% in 2060. The arrival of the era of deep aging will undoubtedly raise the "ceiling" of the heart stent industry.

Fig. 6 Structural trend of population aging in China. png

Figure 6 Structural trend of population aging in China (data source: public information)

With the development of younger coronary heart disease and aging population, and considering the impact of centralized procurement on the price of cardiac stents and the improvement of people’s health awareness, the number of PCI operations per capita in China will be in line with that of developed countries in the future (the number of PCI operations per million population in China is 736, that in the United States is about 3,135, and that in Japan is about 2,047, which is 4.3 times and 2.8 times that in China, respectively). According to the extreme analogy method (referring to the number of PCI operations per million people in Japan, mainly considering that China and Japan are similar in race and incidence), it is estimated that the peak number of PCI operations will reach 2.87 million in the future. Considering the average number of stents implanted in PCI (about 1.5 stents/case), the corresponding peak number of cardiac stents implanted is about 4.3 million, which has a large long-term permeability and market space.

Fig. 7 Comparison of the number of percutaneous coronary intervention (PCI) between China and major developed countries. png

Fig. 7 Comparison of the number of percutaneous coronary intervention (PCI) between China and major developed countries (data source: analysis by Health Research Institute).

2. Policy orientation:Front-end encouraging innovation and end-collection specification help the market demand of cardiac stents to be released continuously.

In recent years, the state has launched a series of favorable policies for the medical device industry to support the rapid development of enterprises:

innovateEncourage the acceleration of the transformation and upgrading of medical devices, develop high-end interventional products such as fully degradable vascular stents, and stimulate the development of new cardiac stents market segments; Priority is given to the review and approval of qualified innovative medical devices. Under the promotion of innovation policy, the fully degradable polymer matrix drug (rapamycin) eluting stent system (NeoVas) independently developed by Lepu Medical and the fully degradable polylactic acid stent (Xinsorb) independently developed by Academician Ge Junbo of China Academy of Sciences have all entered the special approval procedures for innovative medical devices.

circulateFrom the national level to the provinces and cities, the centralized purchasing scheme of high-value consumables has been launched one after another, constantly rationalizing the price system of high-value medical consumables and improving the supervision and management of the whole process. In October 2020, coronary stents became the first batch of purchased varieties, and the national level started the collection of high-value medical consumables.

Table 1: Main policies related to high-value consumables such as cardiac stents from 2016 to present:

Table 1: Major policies related to high-value consumables such as cardiac stents from 2016 to present:. png

3. Technology promotion:The iterative upgrading of products and the improvement of interventional surgery level greatly enhance patients’ confidence and willingness to receive interventional therapy.

Iterative upgrade of products: cardiac stent has experienced the development from balloon expansion to drug-eluting stent, and the restenosis rate of stent implantation has decreased by nearly 20%, and the incidence of thrombosis in stent has decreased to about 1%, which effectively reduces the risk of complications for patients;

Improving the level of interventional surgery: China has successively established the training base of cardiovascular interventional diagnosis and treatment of the Ministry of Health and the national quality control center of PCI, and adopted a unified training model to carry out systematic training nationwide, and issued certificates after passing the examination, and carried out quality control and index monitoring on related work. In 2018, the mortality rate of interventional therapy for patients with coronary heart disease was 0.26%, far lower than that in the United States.

(III) Competition pattern: Domestic substitution in the cardiac stent industry has basically been completed.

After decades of development, the technical generation gap among major enterprises has gradually narrowed, and the industry pattern has been basically stable, mainly relying on the launch of new products to enhance market share. Judging from the competition pattern, the concentration of cardiac stent industry is high, and the market share of domestic drug stent products exceeds 70%, and the domestic substitution is basically completed. Among them, domestic brands such as Weichuang, Lepu and Jiwei rank among the top three, with a total market share of over 65%.

Figure 8 Market share of domestic cardiac stent brands in 2019. png

Figure 8 Market share of domestic cardiac stent brands in 2019 (data source: analysis by Health Research Institute)

In 2019, the revenues of cardiac stents (including balloons, catheters and other ancillary products) of minimally invasive medical care, Lepu medical care and Jiwei medical care were 1.83 billion yuan, 1.79 billion yuan and 1.74 billion yuan respectively, with growth rates of 33.0%, 26.7% and 24.9% respectively. As can be seen from the figure, cardiac stents of minimally invasive medical care showed a trend of "double high" in sales growth rate and market share.

Figure 9 Market share and revenue growth rate of cardiac stent head enterprises. png

Figure 9 Market share and revenue growth rate of cardiac stent head enterprises (data source: analysis by Health Research Institute)

Change: the national "group purchase" triggered a major change in the heart stent industry.

With the landing of the national heart stent collection, the "suicide" price reduction of enterprises has also brought infinite reverie to the future direction of the industry. Will the heart stent industry under centralized procurement be a "broken wrist" or a "rescue" in the future? Is it "price for quantity" or "innovation and transformation"?

(A) the change in scale

Centralized procurement of cardiac stents directly affects the purchase price. According to the recent centralized purchasing list published by the Medical Insurance Bureau, the number of intentional purchases in the first year exceeded 1.07 million, involving 27 products. Based on the published average price quoted by the winning bidder (1682 yuan/piece) and the amount of coronary stents implanted in 2021, the market value in 2021 is about 3.19 billion yuan. It should be emphasized that the market value forecast here does not consider the impact of the decline in centralized purchasing price on the improvement of patients’ willingness to operate.

Fig. 10 Market Value Forecast of Cardiac Stents in 2021. png

Fig. 10 Market value forecast of cardiac stent in 2021 (data source: analysis by Health Research Institute)

According to the previous estimation of the amount of cardiac stent implantation in China, when the amount of PCI operation per 100 people reaches the Japanese level, the peak amount of cardiac stent implantation in China is 1400 x 2047 x 1.5 = 4.3 million. According to the heart stent of 1682 yuan/piece (the average price of centralized procurement), the corresponding market value of heart stent is 7.23 billion yuan:

Fig. 11 Market value of China cardiac stent corresponding to peak value. png

Fig. 11 Market value of China cardiac stent corresponding to peak value (data source: analysis by Health Research Institute)

From the above analysis, it can be seen that under the influence of centralized procurement policy, the market value of heart stents in China in the next 1-3 years is expected to be in the range of 3-7 billion yuan.

How much money can patients save after centralized collection?

As we all know, the "floor price" of centralized purchasing has a great influence on patients who are unwilling to undergo interventional surgery because of the high price. This paper analyzes the payment situation of patients before and after centralized purchasing (according to the conventional reimbursement policy):

Fig. 12 Comparison of patients' own expenses before and after centralized purchasing. png

Fig. 12 Comparison of patients’ self-funded amount before and after centralized purchasing (data source: analysis by Health Research Institute)

As can be seen from the above figure, according to the same reimbursement policy, the out-of-pocket medical expenses of patients decreased from 6520 yuan to 308 yuan before and after centralized purchasing, and the personal burden was only 4.7% of the original, which greatly eased the economic burden.

(2) Changes in business

In addition to the industry scale being affected, the business tentacles of heart stent enterprises will also be adjusted:

1. Stent market: form a low-cost medical insurance centralized procurement market+off-standard non-medical insurance high-end alloy stents+medical insurance stainless steel stents+non-medical insurance ultra-high-end degradable stents.

In the short term, the market of cardiac stent products will form a pattern of low-cost medical insurance centralized procurement market+off-standard non-medical insurance high-end alloy stent+medical insurance stainless steel stent+non-medical insurance ultra-high-end degradable stent:

On the one hand, from the current attitude of centralized mining, bare metal stents are not included in the list of centralized mining, and the price of stainless steel stents will be under pressure due to the price reduction of centralized mining in the short term, and the price inversion with alloy stents will not last long; In the long run, stainless steel stents are not as good as alloy stents in terms of support and passability. As a more backward technology than Co-Cr alloy and Pt-Cr alloy, stainless steel stents will face marginalization in the future. However, in view of the fact that the use of stainless steel coronary stents still accounts for about 40% of the market share in 2019, stainless steel coronary stents will be coasting for a period of time in the future.

On the other hand, with the continuous promotion of cardiac stent collection, the trend of differentiation and stratification of end patients will become more obvious, and the group of self-paid high-priced stents may expand. Degradable stents and metal stents belong to two price bands, so it is impossible to talk about the market share substitution after the huge change of centralized purchasing price. Moreover, the proportion of consumables in the cost of PCI surgery has further decreased, and the audience’s marginal willingness to pay for innovative products is likely to increase. In the medium term, the development rhythm of fully degradable stents will continue to be stable, in order to get as much clinical data as possible, enhance the recognition and acceptance of products by more experts, doctors and patients, and enhance the high-end market share.

Fig. 13 Future product layout of cardiac stent. png

Figure 13 Future product layout of cardiac stent

2. Business reshaping: cultivate and expand new medical formats around the cardiovascular field, and make a forward-looking and diversified layout.

On the one hand, it conforms to the latest concept of "intervention without implantation" of the current interventional instruments, and extends upstream and downstream around the coronary intervention chain:

Product chain: the price reduction of metal stents will be the norm in the future, and the fully degradable stents and drug balloons with "intervention without implantation" will become the core of future development. Facing the policy impact of centralized stent mining, it will be an effective hedging means to extend the layout of coronary intervention chain. In addition to completely degradable stents, a new generation of drug-coated balloon (DCB) has also become the core of future development under the new concept of "interventional non-implantation". The data shows that the usage of drug-coated balloons in some hospitals or individuals in Europe has reached 50%-90% of all PCI, and Japan has reached 4,000 per month, accounting for about 15% of Japanese PCI. In addition, auxiliary consumables (balloons, catheters, guide wires, etc.) related to coronary intervention will also become the profit growth point that enterprises pay attention to.

Technical service chain: The further decline in the proportion of consumables in the cost of PCI surgery has prompted enterprises to speed up the layout of medical services and health management sectors. Conditional enterprises will cooperate with primary hospitals to provide equipment consumables, drugs and medical technical services needed for interventional diagnosis and treatment, and promote the grassroots promotion and popularization of new interventional technologies, which will become an important exploration for coronary intervention enterprises to face the centralized procurement of high-value consumables.

On the other hand, the centralized procurement of cardiac stents has prompted enterprises to expand from coronary intervention to peripheral intervention, and continuously enrich their product lines:

Make full use of enterprise stent balloon design and precision manufacturing platform technology, constantly innovate and develop, expand the company’s products from coronary intervention to peripheral intervention, continuously enrich the cardiovascular disease product line, and concentrate on improving the company’s marketing network structure to cope with market risks brought about by policy uncertainty.

Figure 14 Possible business development direction of cardiac stent enterprises under the background of centralized procurement. png

Figure 14 Possible business development direction of cardiac stent enterprises under the background of centralized procurement

(C) changes in the market

Under the general trend and background of medical insurance fee control and national centralized procurement, it has a great influence on the competition pattern of domestic medical industry. Medical device enterprises will face more fierce market competition, as well as the realistic problems of product prices and product profit margins falling sharply. For the leading enterprises in the industry, although they can seize more market share by winning the bid at a low price, the problem of shrinking scale and declining profit rate cannot be underestimated.

In the foreseeable future, the scope of domestic medical insurance control fees will only increase, so as to more effectively reduce the pressure of medical insurance expenditure, reduce the prices of drugs and devices and benefit the people’s livelihood. In addition, the situation in the field of devices may appear in the previous pharmaceutical field, and importers may take more aggressive quotations to seize the domestic market after they are familiar with the rules.

For domestic cardiac stent enterprises, facing the policy risks of centralized procurement and medical insurance control, they need to seize the domestic share, turn their attention to the international market and participate in the international market competition. In fact, domestic heart stent head enterprises have also started the international strategic layout, among which minimally invasive medical care, Lepu medical care and Lan Fan medical care are typical representatives.

Turn: Transforming into a strategic choice for heart stent enterprises to overtake in corners.

In the face of major changes in the national medical device policy, cardiac stent enterprises actively predict the development trend, plan ahead, and focus on developing products and new businesses related to centralized procurement while strengthening product technology innovation. For domestic heart stent enterprises, what transformation layouts have been made at present? What is the possible key direction of development in the future?

(1) Adjust the business strategic map and form a multi-sector support system.

1. Diversification of business lines-minimally invasive medical treatment

Through business diversification, we will continuously broaden profit points and enhance comprehensive competitiveness. In recent years, Minimally Invasive Medical Devices Co., Ltd. (hereinafter referred to as "Minimally Invasive Medical") has continuously enriched its product line and expanded its business field through outreach acquisition and endogenous development. Products gradually changed from early cardiovascular stents to diversified business systems covering cardiovascular intervention, orthopedic medical devices, heart rate management (pacemaker), arterial and peripheral vascular intervention, and nerve intervention products.

In 2019, the business revenue was 5.55 billion yuan, of which 33.4% came from cardiovascular interventional products, 29.3% from orthopedic medical devices, 26.3% from heart rhythm management business, 6.1% from arterial and peripheral vascular interventional products, and 3.5% from neurological interventional products. In 2012, the revenue of minimally invasive medical cardiovascular interventional products (stents) accounted for 83.8%.

Figure 15 Comparison of the proportion of minimally invasive medical services in 2012 and 2019. png

Figure 15 Comparison of the proportion of minimally invasive medical business segments in 2012 and 2019 (data source: minimally invasive medical annual report)

2. Product line "from one to four", and build a platform business model of "equipment+medicine+medical service+new medical care"-Lepu Medical.

Lepu (Beijing) Medical Devices Co., Ltd. (hereinafter referred to as "Lepu Medical"), as one of the earlier enterprises engaged in the research and development of cardiovascular interventional medical devices in China, has been accelerating the business integration, optimization and layout in recent years, and has developed from a single stent business in 2013 to four business segments covering "devices+drugs+medical services+new medical care" at present, with the goal of building a platform-based business model around the whole life cycle service for cardiovascular patients.

Fig. 16 Main contents of various business segments of Lepu Medical. png

Figure 16 Main contents of each business segment of Lepu Medical

Dual track of medical devices and medicines: In terms of revenue, the revenue of Lepu Medical in 2019 was 7.80 billion yuan, a year-on-year increase of 22.6%. Among them, the medical device sector achieved operating income of 3.62 billion yuan, accounting for 46.4%, and the pharmaceutical sector achieved revenue of 38.5%, accounting for 49.4%. Among them, the revenue of coronary stent system only accounts for 20% of the total revenue of Lepu Medical. In addition, the market share of the company will be directly increased after winning the bid, and the negative impact of centralized procurement is relatively limited.

Figure 17. png of revenue of each section of Lepu Medical in 2019

Figure 17 Revenue Ratio of Lepu Medical in 2019 (Source: Lepu Medical Annual Report)

3. "Health protection+medical equipment" two-wheel drive-Lan Fan Medical

Lan Fan Medical Co., Ltd. (hereinafter referred to as "Lan Fan Medical") is a leading enterprise in the field of medical gloves in the world, accounting for 22% of the global market. In 2018, it successfully acquired the fourth-ranked cardiac stent company in the world, Singapore Baisheng International Group, and realized its layout in the field of medical devices. Subsequently, Lan Fan Medical implemented the "A+X" industrial strategy, and set up four business divisions with a total of seven tracks:

Fig. 18 Layout of Lan Fan Medical Industry. png

Figure 18 Layout of Lan Fan Medical Industry

At present, Lan Fan Medical has two business series products, namely health protective gloves and heart stents, which are continuously extended to the whole chain of emergency care, cardiovascular and cerebrovascular diseases, forming a multi-business sector collaborative model combining low-value, medium-value and high-value consumables products, with complementary modes and risk hedging. In 2019, Lan Fan Medical achieved a revenue of 3.48 billion yuan, of which the revenue of health protective gloves was 1.68 billion yuan, accounting for 48.3%, and the revenue of cardiac interventional devices (including self-produced and agents) was 1.74 billion yuan, accounting for 50.0%.

Figure 19. png of revenue of Lan Fan Medical in 2019.

Figure 19 Revenue Ratio of Lan Fan Medical in 2019 (Source: Lan Fan Medical Annual Report)

(2) Expand the cardiovascular product chain and form a diversified ecological closed loop.

1. Strategic positioning of big heart-minimally invasive medical treatment

Based on its own existing technology and platform, minimally invasive medical care constantly lays out big heart tracks: coronary heart disease, arrhythmia, structural heart disease and heart failure.

Development contextMinimally invasive medical care started from coronary stent, then cut into radiofrequency ablation, and then extended to pacemaker business. Later, with the further development of interventional technology, structural heart disease entered the era of minimally invasive surgery, and minimally invasive medical care opened up the technical path of completing heart valve replacement by interventional method (representative product VitaFlow transcatheter aortic valve system). Compared with these business units with mature products, Minimally Invasive has begun to "plan the layout" of the treatment solution for heart failure, which is also an important pawn for the future layout of Minimally Invasive and the key to completing the closed loop of the big heart business.

2. Optimize iterative coronary medical devices, enrich and innovate the implantable product line-Lepu Medical.

Lepu Medical has built a rich product group of devices in the cardiovascular field:

1) Accelerate the industrial chain matching of coronary intervention devices. In 2019, Lepu medical coronary stent products achieved operating income of 1.53 billion yuan, a year-on-year increase of 23.3%; Supporting auxiliary consumables (balloon catheter, guide wire, etc.) realized an operating income of 260 million yuan, up 51.0% year-on-year. Under the background that most of the auxiliary PCI interventional materials such as balloon catheter guide wire are monopolized by foreign capital, Lepu Medical is the only R&D and manufacturing enterprise in China that can provide all the consumables for coronary intervention. At present, more than ten necessary consumables such as pre-expanded and post-expanded balloon catheter, PTCA guide wire, guide catheter, contrast guide wire, contrast catheter, sheath, Y valve, triple tee, pressure extension tube, pressure pump, ring handle syringe, pressure sensor and hemostasis compressor have all been mass-produced.

2) Coronary balloon products and NeoVas bioabsorbable stents are expected to form new growth points. In February 2019, NeoVas, an international second-generation bioabsorbable drug stent independently developed by Lepu Medical, was approved for listing in China, and opened a new era of PCI technology "intervention without implantation". In July 2019, the first-generation coronary balloon was approved by GMP for the first time. Three products of the second-generation drug balloon series are about to start clinical trials, and the third-generation rapamycin drug balloon technology has made breakthrough progress, and animal experiments will be carried out soon.

In addition, in recent years, Lepu has actively developed peripheral products of degradable and drug balloons based on the Group’s coronary stent and balloon platform technology, and its business scope has expanded from coronary intervention to peripheral intervention.

3. Layout of coronary artery, valve, nerve intervention and peripheral intervention-Lan Fan Medical.

At the time when the medical device industry entered the golden period of development, Lan Fan Medical continuously accelerated the overall layout of cardiovascular and cerebrovascular devices based on the leading edge of Baisheng International Cardiology Department:

In the field of coronary intervention: all kinds of stent products produced by Singapore Baisheng International are sold to more than 90 countries and regions around the world, with a sales volume of 400,000. At present, BioFreedom, a drug-coated stent of BA9? without polymer carrier, has been introduced into European and Japanese markets, and it is expected to be listed in the United States and China in the near future. From the perspective of stent technology, the upgrading of technology is still the theme of stent industry and the driving force of sales growth. The increase in the proportion of high-end stents such as BioFreedom and Excrossal, as well as the development of foreign markets, have helped to enter the new product bonus period. In addition, taking the cardiac stent as the fulcrum, we will enrich, expand and improve the product line combination related to PCI surgery, such as contrast guide wire, contrast catheter, guide wire, guide catheter, pre-expanded balloon, post-expanded balloon, puncture needle, arterial sheath and pressure extension tube.

Cardiovascular related product lines: Apart from coronary artery, valve, nerve intervention and peripheral intervention are also the tracks that Lan Fan Medical keeps cutting in. By continuously expanding and expanding related product lines such as valve, nerve intervention, peripheral intervention and drug balloon, the competitiveness of product portfolio will be enhanced. The capital is undoubtedly the quickest way for Lan Fan Medical to broaden the track. In June, 2020, Lan Fan Medical acquired the fifth manufacturer of TAVR in the European market. NVT’s main business is the research and development, production and sales of interventional valves for structural heart disease. Through the acquisition of TAVR, a gold track for medical devices, NVT officially entered the field of minimally invasive interventional structural heart disease therapy with broad prospects.

(C) the implementation of internationalization strategy to enhance the international market share of products.

1. Actively deploy the global mainstream market-minimally invasive medical care.

Since 2014, minimally invasive medical care has set its sights on overseas and accelerated the export of China native coronary stents to overseas markets. In 2019, the overseas business of minimally invasive medical drug-eluting stents achieved revenue of 160 million yuan, a year-on-year increase of 72.4%. Sales in 25 countries or regions and registration certificates in 13 countries or regions. Among them, Firebird2TM’s overseas revenue increased by 186.9% year-on-year, FirehawkTM’s revenue increased by 54.6% year-on-year, and it has been sold in several major European countries. In addition, the group has also submitted the application for registration of FirehawkTM stent to the Japanese medical device review and approval authority, and actively deployed the global mainstream market.

Fig. 20 Sub-regional revenue ratio of minimally invasive medical care in 2019. png

Figure 20 Sub-regional Income Ratio of Minimally Invasive Medical Care in 2019 (Source: Minimally Invasive Medical Annual Report)

2. Establish an international business department to increase the market share of international innovative products-Lepu Medical.

Lepu Medical put internationalization on the agenda after the first round of domestic drug collection in 2018, and proposed to further increase the market share of international innovative products. At present, the original foreign trade business and departments of all subsidiaries have been integrated, and the international business department has been established to strengthen the international influence on the upstream and downstream of the medical industry chain in the cardiovascular field. Explore the possibility of setting up R&D centers and production bases overseas. Overseas R&D centers have been planned to accelerate the clinical registration of innovative products (degradable stents, TAVR3.0, renal artery ablation, artificial intelligence ECG and artificial intelligence monitoring) in the world.

It is reported that Lepu Medical’s business revenue from abroad in the first half of 2020 was 870 million yuan, an increase of 320 million yuan compared with the whole year of 2019. Guo Tongjun, senior deputy general manager and secretary of the board of directors of Lepu Medical, said at the reception of listed companies that the company’s overseas market target remains unchanged, and the proportion of overseas market revenue will continue to increase to 20%-30% in the next 3-5 years.

Figure 21 Lepu Medical Internationalization Strategic Measures. png

Figure 21 Lepu Medical Internationalization Strategic Measures

summarize

National centralized procurement is not only a reshuffle of the cardiac stent industry, but also an impetus to the cardiovascular segmentation field. Heart stent enterprises still have a long way to go, but whether they are facing the "change" of the industry calmly or actively responding to the "turn" of the industry, there are undoubtedly two ways to go: First, strengthen the technological innovation and product iteration of heart stents in order to obtain new user markets; The second is to realize business diversification and risk hedging with the heart stent as the fulcrum.

The national AI innovation platform has been expanded to 15 artificial intelligences to welcome policy combination boxing.

　　The Economic Information Daily reporter learned from the 2019 World Artificial Intelligence Conference on the 29th that China’s artificial intelligence open innovation platform has added a "new army", and 10 head enterprises including Huawei’s basic software and hardware platform, Ping An inclusive finance platform and Xiaomi’s smart home platform have been officially selected.

　　As an important driving force of the new round of scientific and technological revolution and industrial transformation, the development of artificial intelligence industry once again ushered in the policy "dividend" period. In this field, China has gradually embarked on a unique development path of demand-oriented leading business model innovation, market application forcing basic theory and key technology innovation.

　　Support policies for platform expansion are intensively introduced.

　　Shanghai will speed up the construction of a new generation of national experimental zone for artificial intelligence innovation and development, promote scientific and technological innovation and institutional innovation in the same direction, make all the vitality of artificial intelligence knowledge, technology, management and capital compete with generate, encourage the latest achievements of artificial intelligence to take the lead in "testing the water" in Shanghai, strive to make original breakthroughs in some key core areas, and strive to become an important source of global artificial intelligence innovation. This is the information obtained by the reporter at the World Artificial Intelligence Conference on the 29th.

　　At the same time, Shanghai will make good use of major opportunities such as the construction of a new area of the Pilot Free Trade Zone, the integrated development of science and technology innovation board and the Yangtze River Delta, build a global frontier innovation platform and benchmark for application scenarios, promote standard communication, facility connectivity, smooth trade and financial intermediation in the field of artificial intelligence, and promote the cross-regional cross-disciplinary cross-industry development of artificial intelligence.

　　This is just a "microcosm". At the forum on the same day, the Ministry of Science and Technology officially added ten national new-generation artificial intelligence open innovation platforms, including relying on Shanghai Yitu Network Technology Co., Ltd. to build a national new-generation artificial intelligence open innovation platform for visual computing, relying on Shanghai Mingluo Artificial Intelligence (Group) Co., Ltd. to build a national new-generation artificial intelligence open innovation platform for marketing intelligence, and relying on Huawei Technologies Co., Ltd. to build a national new-generation artificial intelligence open innovation platform for basic software and hardware. Since then, China’s national AI innovation platform has expanded to 15.

　　While building a top-level communication platform for the development of artificial intelligence in the world, the Ministry of Industry and Information Technology also continued to "unveil the list" for the world. At the meeting, four test tracks were launched: intelligent networked car, medical image-assisted diagnosis, visual image identification and smart sensor.

　　New technology blessing industrialization accelerates landing

　　Under the "blessing" of new technologies, the industrialization of artificial intelligence in China has accelerated. "According to the calculation of relevant institutions, the scale of China’s artificial intelligence industry is expected to exceed 160 billion yuan by 2020, driving related industries to exceed 1 trillion yuan." Lin Nianxiu, deputy director of the National Development and Reform Commission, said at the meeting.

　　At present, the blueprint of a new generation of artificial intelligence industry in China has initially appeared. Among them, the national new-generation artificial intelligence innovation and development pilot zones in Beijing and Shanghai have taken the lead, and the new-generation artificial intelligence demonstration parks are accelerating. The three major artificial intelligence industrial clusters represented by Beijing-Tianjin-Hebei, Yangtze River Delta, Guangdong, Hong Kong and Macao have taken shape, and the total number of artificial intelligence enterprises accounts for 86% of the country.

　　With the development of new technologies such as big data, cloud computing, speech recognition, face recognition, security, somatosensory interaction, and intelligent manufacturing, in addition to BAT betting, Haier, Huawei, Xiaomi, Meituan, Didi, and Today Headlines have also entered the field of artificial intelligence.

　　In this regard, industry experts pointed out that "artificial intelligence+manufacturing" is still an important foothold for the development of artificial intelligence. With the spillover effect of artificial intelligence on traditional industries, the application scenarios of artificial intelligence enterprises will accelerate. At present, in addition to building autonomous driving by Baidu, building urban brains by Alibaba Cloud Company, building medical images by Tencent, building intelligent voice by Iflytek and building intelligent vision by Shang Tang Group, the new generation of artificial intelligence open innovation platforms are widely used in manufacturing, medical care, transportation, home, security, network security and other fields. There are more than 1,000 artificial intelligence enterprises in China, and the upsurge of AI chips and open source continues to heat up. The head start-ups such as Shang Tang, Yuncong, Defiance and Yitu are facing fierce competition.

　　Take SAIC Motor Group as an example. In recent years, it has built the largest cloud computing big data center and the first artificial intelligence laboratory in the industry around the three major areas of intelligent driving, smart travel and intelligent manufacturing, actively explored the integration of big data, cloud computing, artificial intelligence, 5G and other information and communication technologies with application scenarios, seized the development opportunity of deep integration of cutting-edge technologies and the real economy, and accelerated the evolution and transformation of the automobile industry. The 5G smart heavy truck is the latest achievement of SAIC’s independent innovation. Combined with the advanced 5G-V2X vehicle communication technology, it can realize L4 automatic driving, centimeter-level positioning, accurate parking, interaction with automation equipment and queue driving.

　　The penetration of the new generation of artificial intelligence technology into traditional industries is unprecedented. Lei Tao, CEO of Tianyun Big Data, said that with the mature application of cloud computing and open source software technology and the arrival of the era of big data, IT began to transform into DT, the ecology was reshuffled, and the information industry itself had undergone subversive changes.

　　The construction of industry legal system has been accelerated and improved.

　　As a new thing, artificial intelligence has been controversial in law and ethics. In May 2019, the Shanghai National New Generation Artificial Intelligence Innovation and Development Experimental Zone was unveiled, which clarified the relevant tasks of establishing and improving policies, regulations, ethical norms and governance systems. In June, the National Professional Committee of New Generation Artificial Intelligence Governance issued the Principles of New Generation Artificial Intelligence Governance, which highlighted the theme of responsible and open collaboration.

　　On the 29th, the Youth Working Committee of Shanghai Computer Society issued the Shanghai Declaration on Innovative Governance of Artificial Intelligence for Young Scientists in China in 2019 (hereinafter referred to as the Shanghai Declaration), emphasizing the four major responsibilities that should be followed in the development of artificial intelligence: ethical responsibility, safety responsibility, legal responsibility and social responsibility.

　　Ma Huateng, Chairman and CEO of Tencent Board of Directors, said that the urgency of AI governance is getting higher and higher, and AI governance should be guided by "technology is good" to ensure that AI is "knowable", "controllable", "available" and "reliable". Ma Huateng also said that today, no country has all the resources, technologies and capabilities needed for a new round of global scientific, technological and industrial revolution. Strengthening global governance and cooperation is an indispensable part of the development of AI.

　　"We must actively promote pluralistic co-governance, adhere to multi-agent participation, combine multiple means, tailor governance rules, deepen moral and ethical research, strengthen security, protect personal privacy, standardize industry order, and escort the healthy and orderly development of artificial intelligence." Lin Nianxiu revealed that the country will focus on three major actions in the next step.

　　The first is to implement the artificial intelligence innovation partner action. Focus on 100 artificial enterprises, intelligent technology enterprises and application enterprises, support collaborative research and development, collaborative production and collaborative promotion, solve common technologies, and promote the deep integration of artificial intelligence and real economy. The second is to implement artificial intelligence resource sharing actions. Build an artificial intelligence industry innovation center, improve the open source platform system, deepen the integration of government information systems and information resources sharing, issue guidance to promote the development of new infrastructure, and build an artificial intelligence industry ecology. The third is to implement the open development action of artificial intelligence. Deepen all-round cooperation with countries around the world in the fields of artificial intelligence technology, standards, industries, laws and regulations, ethics, etc., discuss artificial intelligence governance rules, jointly build major artificial intelligence projects, and share the development achievements of artificial intelligence.

　　Reporter Zhong Yuan