广州阡陌同城

[Editor’s note]

The US military believes that Russia and other big countries have begun to deploy hypersonic missiles, which poses a great challenge to the US military’s existing missile defense system. In order to continue to maintain its dominant position, on the one hand, the US military actively develops hypersonic weapons to achieve reciprocal deterrence; On the other hand, we should speed up the research and development of anti-hypersonic weapons and strengthen the ability of active missile defense systems to intercept hypersonic weapons in order to cope with possible high-end wars in the Asia-Pacific region.

Since Trump took office, he has shifted his national strategy from anti-terrorism to competition among big countries. In the "Missile Defense Assessment" report released in January 2019, the US Department of Defense listed hypersonic threats as the focus of missile defense. Hypersonic defense is gradually attached great importance to by the US military. Both the US Missile Defense Agency and the Defense Advanced Research Projects Agency (DARPA) actively promote the demonstration and verification of hypersonic defense technology and project research and development.

A series of recent trends show that the US military will first develop the sea-based anti-hypersonic capability, and plan to equip it on the Aegis ship and launch it by the existing MK41, which is mainly used for the so-called hypersonic regional defense in the Indo-Pacific region. Based on the project of "Hypersonic Defense Zone Gliding Section Weapon System", the sea-based anti-hypersonic missile is planned to adopt the "Standard" -6 1B missile, and the interception test of hypersonic gliding section will be carried out in FY 2023.

The US Navy’s "arleigh burke" class destroyer launched the "Standard" -6 missile, which can intercept hypersonic weapons in the future.

Multi-dimensional promotion of anti-super ability development

The missile defense agency is mainly responsible for the high-level defense of the United States, which is mainly responsible for the top-level planning and design of the hypersonic defense system, the research and development of weapon systems, the research and development of key technologies, and the construction of systems engineering. The Joint Chiefs of Staff of the United States and the United States Air Force participated in the demand demonstration stage; DARPA also conducts research and development of advanced defense component technology. In the summer of 2019, the US Department of Defense formulated a road map for hypersonic defense architecture, but the contents of the road map were not made public. Mike White, deputy director of the US Department of Defense’s Hypersonic Project, said in an interview that the US hypersonic defense adopts a comprehensive and layered defense strategy, which will comprehensively use pre-launch strikes and active and passive defense means such as kinetic energy and non-kinetic energy to defend against competitors’ hypersonic weapons in the active phase, re-entry gliding phase and final phase.

The construction of American hypersonic defense system will be mainly based on the existing ballistic missile defense system, and finally form an integrated defense capability against hypersonic threats and ballistic missile threats through improvement and new research. At present, the Missile Defense Bureau is promoting the development of hypersonic defense capability from multiple dimensions such as architecture, early warning and detection, command and control, and interceptor.

In addition to improving the existing system, the US military has developed four hypersonic defense projects: Hypersonic and Trajectory Tracking Sensor System (HBTSS), Hypersonic Defense Weapon System (HDWS), Hypersonic Defense Zone Glide Weapon System (RPGWS) and Glide Breaker.

Early warning detection is the basis of hypersonic defense. In order to reduce the cost, the United States is seeking to install sensors for detecting hypersonic on low-orbit commercial satellites.

(1) Hypersonic and ballistic tracking sensor systems

Early warning detection is the basis of hypersonic defense. The system of Hypersonic and Ballistic Tracking Space Sensor, formerly known as Missile Defense Tracking System (MDTS) and Space Sensor Layer (SSL), consists of about 200 50-500 kg sensor loads deployed on low-orbit commercial satellites, aiming at eliminating gaps in sensor networks and continuously tracking complex ballistic missiles and hypersonic weapons from launch to interception. Missile Defense Agency is responsible for sensor load research and development, Space Development Agency is responsible for architecture design, Defense Advanced Research Projects Agency is responsible for load platform design and constellation management, and Air Force Space and Missile System Center is responsible for mission requirements design. In October 2019, the Missile Defense Agency awarded Northrop Grumman, Leidos, L3 and Raytheon the second phase of the project, which was used to complete the design of the load prototype, signal chain processing and software algorithm research. According to the National Defense Authorization Act of FY 2020, the "Hypersonic and Ballistic Tracking Space Sensor" system should be tested in orbit on December 31, 2021, and reach its initial operation capability after 2023.

Hypersonic and trajectory tracking space sensor system belongs to the "tracking layer" of the next generation space architecture (consisting of seven constellations) proposed by the Space Development Agency (SDA). In order to avoid redundant construction and make better use of commercial space technology to accelerate the formation of capabilities, in the budget for fiscal year 2021, the US Congress has transferred the system dominance from the Missile Defense Agency to the Space Development Agency.

(2) Hypersonic defense weapon system

In September 2018, the Missile Defense Agency announced the "Hypersonic Defense Weapon System" project, awarded 21 program research and development contracts to 8 units, and began research and development in the concept definition stage; In September 2019, five schemes were selected from 21 schemes and awarded contracts to carry out R&D in the concept improvement stage.

The five research programs awarded mainly include:

Lockheed Martin’s "Javelin-Hypersonic Defense Weapon System" (DART) scheme, based on the improvement of "Sade" interceptor, is mainly used for long-range interception, intercepting in the middle of hypersonic warhead gliding, and forming a layered interception capability with "Valkyrie-Hypersonic Defense Terminal Interceptor";

Lockheed Martin’s "Javelin-Hypersonic Defense Weapon System" scheme, based on the improvement of Patriot -3 MSE missile, is mainly used for short-range interception, intercepting the hypersonic warhead in the later and last stages of gliding, and forming a layered interception capability with "Valkyria-Hypersonic Defense Terminal Interceptor";

Boeing’s "Hypervelocity Interceptor for Hypersonic Weapons" (HYVINT) scheme;

Raytheon’s SM -3 Hawk scheme is based on the improvement of the SM -3 missile.

Raytheon’s "non-dynamic hypersonic defense concept" scheme is a non-dynamic scheme based on high-power microwave weapons.

Russia has equipped a variety of hypersonic missiles in recent years, ahead of the United States. The picture shows the dagger hypersonic missile.

(3) Weapon system of gliding section in hypersonic defense area

On December 5, 2019, the US Missile Defense Agency issued a request for information on the prototype design of the "hypersonic regional defense gliding section weapon system", seeking to quickly design, develop and demonstrate the prototype of the hypersonic regional defense weapon system. On December 18th, the Missile Defense Agency held the Industrial Day of this project to discuss the technical approach of hypersonic defense and further disclose the details of the project requirements to the industrial sector.

"Hypersonic defense zone gliding phase weapon system" emphasizes "gliding phase" and "zone defense", indicating that the defense object of this system is not a hypersonic gliding warhead carried on an intercontinental ballistic missile like Russian Pioneer, but a hypersonic gliding warhead carried by a medium-range ballistic missile.

(4) Gliding saboteurs

DARPA presented the concept map of "Gliding Destroyer" for the first time at the 60th anniversary seminar held from September 5 to 7, 2018. On November 6, 2018, DARPA released a wide-ranging institutional announcement of the "Gliding Destroyer" project, aiming at developing and demonstrating the technology of hypersonic defense weapon components. In February, 2020, DARPA awarded Aerojet-Rockdyne a "gliding destroyer" propulsion technology research and development contract worth 19.6 million.

This month, the United States conducted a hypersonic missile launch test

The US Navy tested anti-superb capability in 2023.

On February 10th, 2020, at the budget conference of FY 2021 held by the US Department of Defense, a reporter asked Jon Hill, director of the US Missile Defense Agency, about the progress of the project "Hypersonic Defense Weapon System", focusing on the research and development progress of five programs such as "Javelin-Hypersonic Defense Weapon System" and "Valkyria-Hypersonic Defense Terminal Interceptor". Jon Hill said, At present, there are only two hypersonic defense projects of the US Missile Defense Agency, namely "Hypersonic Defense Area Gliding Phase Weapon System" and "Hypersonic and Ballistic Tracking Sensor System". The projects mentioned by the reporter are only the preliminary verification projects of the project. Whether it is true or not is intriguing.

On March 4th, 2020, Jon Hill, director of the Missile Defense Bureau, said at the annual national defense planning conference in mcaleese that the "hypersonic defense zone gliding phase weapon system" will be first equipped on the "arleigh burke" class destroyer, launched by the MK41 vertical launch system, and then equipped in the air or other platforms. On March 11, 2020, US Deputy Secretary of Defense Michael Griffin revealed for the first time in his testimony in the House of Representatives that the US Navy and the Missile Defense Agency plan to test the ability of the Standard -6 missile to intercept hypersonic targets in fiscal year 2023; On March 13th, Jon Hill, director of the Missile Defense Agency, confirmed this statement again in his testimony in the House of Representatives.

The range of the standard "-6 1B missile has been greatly increased by replacing it with a booster with a larger diameter, reaching 560~800 kilometers.

The "Standard" -6 missile is a new generation of multi-functional missile developed by Raytheon Company. It was developed in September 2004, the initial design review was completed in June 2005, the first test was successful in June 2008, and mass production began in 2013. The "Standard" -6 missile adopts the "Standard" -2 Block 4 missile body, MK104 dual-thrust solid rocket engine and MK41 booster, and the seeker adopts the active radar seeker of AIM-120 advanced medium-range air-to-air missile, with a range of 370 kilometers and a shooting height of 34 kilometers. Compared with the "Standard" -2 missile, the "Standard" -6 missile focuses on strengthening the interception capability of low-altitude and ultra-low-altitude cruise missiles, and has anti-ship and limited terminal anti-missile capabilities.

The US Navy first joined the "Standard" -6 1B missile project in the budget of fiscal year 2020, which belongs to the 2063 sub-project of "Standard Missile Improvement" (project number 0604366N), with the expenditure of $116.7 million in fiscal year 2020, and it is planned to invest about $380 million in the next five years. Compared with the Standard -6 1A missile, the Standard -6 1B missile continues to use the original seeker and warhead, but the original 343mm MK104 engine is upgraded to the 533mm engine used in the Standard -3 2A missile. It is expected that the range will be increased to 560-800km and the flying speed will reach the hypersonic level.

The "Standard" -6 1B missile is planned to undergo CDR in FY 2020, LRIP in FY 2021, and reach initial operational capability (IOC) in FY 2023. In the fiscal year 2021 budget, the U.S. Navy substantially increased the R&D funds for the "Standard" -6 1B missile, which was 232 million U.S. dollars in fiscal year 2021 and increased to about 570 million U.S. dollars in the next five years, which proves that the U.S. military plans to develop the anti-superb capability of the "Standard" -6 1B missile.

Fiscal year 2023 is the key node of the US military’s sea-based anti-superb capability.

The Standard -6 1B missile uses the 21-inch engine of the Standard -3 2A missile, and its range and firing height are significantly improved. First, with the help of the Naval Integrated Fire Control-Air Defense (NIFC-CA), it will significantly enhance the over-the-horizon anti-ship capability of the Aegis ship and improve the safety depth of the fleet. Second, it will improve the anti-missile capability of the terminal part of the Aegis ship and make up for the defense gap between the Standard -3 missile and the Standard -6 1A missile; The third is to give the Aegis ship anti-hypersonic capability. The "Standard" -3 missile has a high shooting height and the "Standard" -6 1A missile has a limited shooting height and range, so it is basically difficult to intercept hypersonic missiles.

After the deployment of the Standard -6 1B missile, the Aegis system, together with Standard -3, Standard -6 1A, Standard -2, improved Sea Sparrow, Ram and Tomahawk, will form a multi-layer and integrated air defense, anti-missile, anti-superb and anti-ship capability.

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The U.S. military has formulated an ambitious road map of hypersonic defense architecture, but the focus of the U.S. military’s hypersonic defense is the booster gliding warhead mounted on the medium-range ballistic missile, which will be deployed on the Aegis ship in the Asia-Pacific region first.

The fiscal year 2023 is the key node of the US Army’s sea-based anti-hypersonic capability. At that time, the "Hypersonic and Ballistic Tracking Sensor System" will reach the initial operational capability, which can continuously track hypersonic weapons, and the "Standard" -6 1B missile will reach the initial operational capability, or can conduct anti-hypersonic tests. The "Standard" -6 missile will be the first missile with air defense/anti-superb, anti-missile and anti-ship capabilities.

Cookie oven with dipping sauce

Soul barbecue three-piece suit

……

recently

"Zibo Barbecue" fire out of the circle.

Frequent brushing

Gansu people really can’t sit still!

Gansu barbecue application for battle!

On relieving hunger with the tip of the tongue

In the food list of Gansu people

"Barbecue" must be among the best.

Gansu barbecue

What you eat is Jianghu heroism.

Gansu barbecue, according to the calculation, is the heroic spirit of the rivers and lakes. Grilled mutton kebabs are well-deserved kings of meat dishes. Mutton, lamb loin, plate tendons and beef tripe, which are fragrant but not fragrant from Gansu, and which are tight and fragrant with cumin, will reach the extreme with only a handful of salt and a handful of pepper. A more vigorous store directly hangs a fresh leg of lamb at the door, then cuts it on the spot, skewers it on the spot and bakes it on the spot, which is so refreshing.

When people in Gansu eat mutton kebabs, they pay attention to the flavor of the meat and the temperature should be in place. Choose fresh mutton, cut it into pieces of appropriate size, then mix the mutton pieces, meat tendons and other ingredients together and put them on with iron bars. Pay attention to "two thin and one fat", so as to keep a balance at high temperature, neither too greasy nor too firewood. After strict temperature control, the taste of mutton and various ingredients reaches the best state. The mutton skewers made in this way are delicious, rich in taste and golden in color, which makes people drool.

When night falls,

Rows of barbecue stalls become magical.

Was placed in a street

The fragrance is overflowing and steaming.

Three or five friends are sitting together.

Eating barbecue and drinking beer.

Talking about the present and the distance

……

Lanzhou de barbecue

How many "shoulders"

If the life of Lanzhou people begins with a bowl of beef noodles, it can also be said that a steaming barbecue ends the day.

The barbecue in Lanzhou has unique local characteristics, which reduces the hemp flavor and sublimates the flavor of pepper and spiced. The lamb in Gansu is even more famous in the world, which makes Lanzhou barbecue unique. Because of the different proportion of spices, it also shows the characteristics of each family. Barbecue in Zhengning Road, Jiuquan Road and Nanguan Night Market is definitely a "shoulder handle" in a barbecue shop.

To eat barbecue is to eat it one by one, so as to show the "dryness" of the northwest people. The barbecue in Lanzhou, with a piece of fat meat between two lean meats, is shiny and shiny, and red peppers are dotted with meat pieces. It’s full of happiness when you go down!

Eating an oily barbecue with a crisp yellow river beer is the greatest delicious enjoyment of Lanzhou people, and only those who have tasted it know the fun.

Jiayuguan people

How good at eating meat?

Jiayuguan is a famous barbecue city in Gansu, and everyone in the city is a barbecue expert. Roasted sheep’s belly, sheep’s skin and mutton seem unable to show their superb skills, so even the sheep’s bone marrow is dug out and roasted. In Jiayuguan, no sheep can escape the hand of the barbecue chef.

Charcoal barbecue, eating meat.

Mutton into the boiling soup, very graceful; Once the charcoal fire is gone, the taste is even more fierce.

The famous roast mutton in Jiayuguan on the road feels the fusion of time and space and the collision of inspiration and taste buds in the presentation of fresh food with regional colors. Except that wool can’t be roasted, lamb chops, leg of lamb, sheepskin, liver and head of sheep can spoil you.

Jiayuguan barbecue has a secret: the iron barrel next to the barbecue stall is boiling with sheep oil. After the meat is pre-baked for a short time, it can quickly lock the juice in the meat, and then sprinkle with salt and pepper. The mutton is mellow and juicy, which is really "full of happiness." When barbecuing, pay attention to precise control. While roasting with coal fire, sprinkle salt, cumin and Chili noodles while roasting until the surface is crisp and yellow, the meat is ripe and the flavor is strong. After roasting, the mutton is red in color, bright in spicy and fresh sesame oil, not greasy and tender, crisp outside and tender inside, delicious in meat and unique in flavor.

Photo: "Flavor Origin Gansu"

Tracing back to the history of barbecue in Gansu, it is even more "solid". In Jiayuguan, Gansu Province, barbecue has a long history, which appeared as early as the Western Han Dynasty. Archaeologists found portrait bricks painted with kebabs in the "Wei and Jin Tombs in Xincheng" in Jiayuguan City. The figure on the portrait brick skewers meat with two fork-shaped tools and barbecues it on a tripod. As can be seen from these brick paintings, barbecue has been used as a special food to entertain relatives and friends in the Wei and Jin Dynasties.

A handful of oily and fiery "human fireworks" has continued to this day. Because the roast is too good and exquisite, Jiayuguan kebab has been identified as a municipal intangible cultural heritage protection project.

Eating barbecue in Gansu

Eating is friendship, baking is feelings.

Barbecue is a life, an art and a pleasure.

Raising a glass at the barbecue stall makes the atmosphere more relaxed. People who can have a barbecue together at the barbecue stall naturally have a deep friendship. Adding wine to the barbecue, raising kebabs in the left hand and raising a glass in the right hand to respect friendship is another happy life.

In the hustle and bustle, in the square inch of the oven with a strong smell of fireworks, in the light and shade of charcoal fire, and in laughter, diners talked about those parents who were short of food, rice and oil. In the intertwined, tasting the beauty of the world, deducing this ordinary and hot life.

Just like the documentary "A String of Life" said, there are many people who can eat together, but those who can have a string together are real friends. When eating barbecue, we don’t talk about work at all, only talk about friendship.

Wherever Gansu people go,

Memories can’t erase the roadside stalls.

Those vendors who roast kebabs in dialect.

And that string of mutton skewers with fragrant incense into the soul

And those friends who can’t get tired of talking too much nonsense.

In emotional memory

That unique delicacy

Just around.

Never far away

……

Source: New Gansu Client

Original title: "Gansu people’s barbecue is also very curly! 》

Read the original text

Welcome to the Autohome Luzhou promotion channel to bring you the latest car market trends. Currently, a significant price reduction is underway for high-profile models. For consumers in the city of Luzhou, now is the perfect time to seize the opportunity, as the maximum discount on the Blue Electric E5 has reached an astonishing 40,100 yuan. The starting price has been adjusted to an attractive 99,800 yuan. This offer is not to be missed. If you are interested in the Blue Electric E5, be sure to click the "Check Car Price" button in the quotation form to get a more specific car purchase discount. Don’t delay, act now!

The side design of the Blue Electric E5 is streamlined and dynamic, with a body size of 4760mm*1865mm*1710mm and a wheelbase of up to 2785mm, which brings a stable driving posture to the vehicle. The layout of the front wheelbase of 1585mm and the rear wheelbase of 1580mm ensures good handling performance. The tire size is 225/55 R18, and the delicate rim design not only enhances the overall visual effect, but also ensures good grip and driving stability.

The interior design of the Blue Electric E5 fully reflects the concept of modernity and comfort. It adopts a delicate leather steering wheel, which not only feels delicate to the touch, but also supports manual up and down adjustment, providing a comfortable driving experience. The center console is equipped with a large 12.3-inch screen, which integrates multimedia systems, navigation, telephone, air conditioning and sunroof functions. It is highly intelligent and easy to operate. The seats are made of imitation leather material, which not only ensures durability but also improves ride comfort. The main driver seat supports multi-directional adjustment of front and rear, backrest and height. The passenger seat is also equipped with front and rear adjustment and backrest adjustment to meet the individual needs of different passengers. The second row of seats can be adjusted by backrest, which is flexible in space utilization. In addition, the front and rear rows are equipped with a USB/Type-C interface, which is convenient for passengers to charge and data transmission. Overall, the interior design of the Blue Electric E5 focuses on practicality and user-friendliness, creating an elegant and comfortable interior space for drivers and passengers.

The Blue Electric E5 is equipped with a 1.5L displacement L4 engine, which reaches a maximum power of 81 kilowatts and provides 110 horsepower output. It is matched with the E-CVT continuously variable transmission, which has the advantage of enabling a smooth driving experience and high-efficiency energy conversion. The combination of this engine and transmission ensures smooth performance and fuel economy in daily driving.

Summarizing the comments of the Autohome owner, the Blue Electric E5 visually impresses with its eye-catching exterior design, like a luxurious large SUV, meeting his high expectations for the appearance of the vehicle. This atmospheric styling undoubtedly adds extra pride to the driver and passengers. As a mid-size SUV, the Blue Electric E5 clearly manages to achieve a balance in appearance and size, winning the approval of the owner.

Fast Technology April 10 News, last weekend, according to the media "" of 36Kr,DJI Automotive has been awarded the project designation by BYD and will provide the latter with high-level driver assistance technology solutions…

According to reports, the cooperation between the two parties will be the first to be used on BYD’s new pure electric SUV Sea Lion, which will be released within this year. The cooperation plan includes city NOA (Navigate on Autopilot, that is, city pilot assisted driving) that does not rely on high-precision maps. In response to the revelation, Dcar reported that,BYD responded "the news is not true".…

Although BYD denied the news of the cooperation, it still brought the advanced driver assistance system in DJI vehicles to the public eye again.

It is reported that this thousand-yuan smart driving plan was recently released by DJI.Its strong vision, no high-precision map dependence, no lidar dependence,It is divided into seven cameras and nine cameras.

The former realizes the functions of active safety, driving assistance, parking assistance, memory parking, cross-layer memory parking, memory driving, and high-speed pilot driving (without relying on high-precision maps); while the upgraded 9V system (9 camera versions)It can also realize all intelligent driving functions, including urban pilot driving, without relying on high-precision mapsIt is said to be comparable to the Tesla FSD.

At present, Wuling and Volkswagen have reached a cooperation with DJI and will implement this latest system on the main sales model. Although BYD has denied the report, it does not rule out the possibility of future cooperation.

Welcome to [Autohome Shigatse Promotion Channel], where we bring you the latest promotion information. For the high-profile Toyota models, we are honored to announce that a grand price reduction campaign is in full swing in Shigatse. The maximum discount range is up to 10,000 yuan, which means that consumers have the opportunity to buy this luxury car at a lower price. At present, the minimum starting price has been adjusted to 168,800 yuan. To seize this rare car purchase opportunity, please click "Check the car price" in the quotation form and let professional consultants get you more favorable car purchase conditions. Don’t miss it, act now!

The exterior design of the Toyota Asian Dragon is ingenious, with smooth lines on the front face, showing a unique sense of power. Its air intake grille is designed with a large area of blackened grid, which not only enhances the visual impact, but also emphasizes the sporty style. The overall style is stable and stable, and the body lines are full of movement and elegance, showing the aura that a luxury car should have. The details are exquisite, whether it is the lamp design or the body outline, it reflects Toyota’s persistent pursuit of quality and aesthetics.

With its streamlined body design, the Asian Dragon presents an elegant and dynamic side profile. The body size is 4990mm*1850mm*1450mm and the wheelbase reaches 2870mm, making the interior of the vehicle spacious and comfortable. The front and rear wheel tracks are 1595mm and 1605mm respectively, providing a solid foundation for driving stability. The tire size is 215/55 R17, and the delicate wheel design not only guarantees the driving performance, but also adds the stylish atmosphere of the vehicle. From the side, the Asian Dragon shows an aesthetic that coexists with strength and refinement.

In terms of interior, the Asian Dragon is designed with a design concept of simplicity and refinement, and the overall style is biased towards business and luxury. It adopts a high-end plastic steering wheel, which feels light and easy to control. It supports manual up and down + front and rear adjustment to ensure the comfort of the driver. The 10.25-inch central control screen stands on the driving platform, full of technology, providing rich multimedia functions and convenient navigation experience. As for the seats, the fabric material is used, which makes the sitting feel comfortable. The main and passenger seats support front and rear, backrest and high and low multi-directional adjustment to meet the needs of different drivers. The USB/Type-C interface is equipped to facilitate passengers to charge and data transmission during driving, which enhances the convenience of daily use.

[Autohome Model Introduction] The Asian Dragon is equipped with a 2.0L L4 engine, which has a maximum power of 127 kilowatts and a maximum torque of 206 Nm. This power system uses a CVT continuously variable transmission (simulated 10 gears) to ensure the smoothness and fuel economy of the vehicle during driving.

To sum up, the car owner gave high praise to the exterior design of the Asian Dragon, especially the 45-degree angle of the body line and the big mouth grille design, which won the love of him and his wife, making the Asian Dragon both elegant and fashionable in their eyes. This exterior design undoubtedly enhanced the recognition of the Asian Dragon in many models, and also confirmed its success in the market.

On March 24, a photo of Liu Yifei partying with friends in London on March 15 was leaked online. The photo shows three men, who may have been working partners Liu Yifei met while filming the movie.

In the photo, Liu Yifei’s hair is tied up, and it looks like it is a private party, so Liu Yifei is not dressed up for the appointment. Liu Yifei is wearing a casual and simple yellow sweater and jeans, and she looks like a girl next door. But she is slightly fat, with a round face and a faint double chin.

　　A staff member of Qingdao Real Estate Registration Center privately uploaded Fan Bingbing Li Chen’s purchase information and has been fired; Fan Bingbing is learning about the situation

　　According to the Beijing News, recently, the news that Fan Bingbing Li Chen purchased nearly 10 million real estate in Qingdao was exposed, and some netizens posted pictures of housing property rights information. Some netizens questioned that the relevant staff of the Qingdao Municipal Bureau of Land, Resources and Housing (hereinafter referred to as "Qingdao Housing Administration") were suspected of using their positions to violate and disclose citizens’ personal privacy information, and complained on the official website of the bureau.

　　Yesterday afternoon, the Qingdao Housing Administration informed that a staff member of the Municipal Real Estate Registration Center had inquired about the purchase information of the party without authorization and sent it to the personal WeChat family and friends group, resulting in the leakage of the party’s purchase information. The staff member has been fired. And expressed his apologies.

　　Users complain to the Housing Authority for leaks

　　On March 14, a WeChat official account focusing on entertainment news published an article, which first exposed the news that the two "purchased nearly 10 million luxury houses in Qingdao".

　　The official account article quoted an internal whistleblower as saying that the new house purchased by "Chenbing" currently only paid 5 million down payment, and it was a one-time payment, of which Fan Bingbing contributed 4 million, and the remaining 1 million was paid by Li Chen, and the real estate certificate wrote two names.

　　The above-mentioned article also attached pictures of the property rights information of the two people who bought the house. The poster said that the picture was provided by netizens and their name was watermarked on the picture. In the picture, the property rights number, property rights value and other information are clearly visible; in the "name of the right holder" column, the names of "Fan Bingbing" and "Li Chen" are listed, as well as the ID number that has been mosaic.

　　Tiandu, an online user, said that the relevant staff of the Qingdao Municipal Housing Administration were suspected of using their positions to leak and violate Li Chen Fan Bingbing’s personal privacy, "violating work norms and behaving badly." As of yesterday afternoon, a total of four netizens had complained in the "Discipline Violation Report" column of the official website of the Qingdao Housing Administration.

　　Official dismissal of disciplinary personnel

　　Yesterday afternoon, the official Weibo account of the Qingdao Municipal Housing Administration announced the results of the investigation. The report said that a staff member of the city’s real estate registration center violated work discipline and inquired about the party’s house purchase information without authorization and sent it to the personal WeChat family and friends group, resulting in the disclosure of the party’s house purchase information. "In view of the staff’s behavior violating the relevant regulations on the inquiry and protection of real estate registration information, the staff member has been dismissed." At the end of the notice, the party was also apologized.

　　At about 5pm yesterday, Fan Bingbing’s agent said that he had not yet paid attention to the notice from the Qingdao Municipal Housing Administration and "went to find out the situation first".

　　■ Focus

　　Where are the boundaries of celebrity privacy?

　　"As long as the privacy of celebrities is not in the public interest, it should be protected"

　　After the incident, some netizens argued that Fan Bingbing and Li Chen, as popular celebrities, were public figures and that privacy related to public interest should be relinquished.

　　"The current law in our country does not clearly define the concept of a public figure." Cao Hanbing, assistant director of Beijing Mugong Law Firm, said that the current consensus in academia and industry is that public figures should make certain "concessions" to their privacy rights compared with ordinary people. Wang Kai, an associate professor at the School of Media and International Culture at Zhejiang University, said that privacy is related to the most basic human dignity, personal freedom and peace of life of everyone. Both men believe that such concessions are not borderless and have no bottom line. Violations of the privacy rights of public figures also bear legal responsibility.

　　"Whether it is related to the public interest is the basic principle for measuring the privacy boundaries of public figures." Wang Kai believes that in the above incident, the staff of the Qingdao Real Estate Registration Center illegally inquired about the purchase information and sent it to the WeChat group, as well as the WeChat official account that first published the news, have violated the privacy information of Fan Bingbing and Li Chen. "Although the ID number, real estate address, etc. are mosaic, these information have no public interest."

　　Is it reasonable to fire the leaker?

　　"Relative punishment is not heavy", which constitutes a crime and can be investigated for criminal responsibility

　　"If the leaker infringes on the civil rights and interests of others, he can be required to bear civil liability according to law; if he is suspected of violating the law, he can be given administrative punishment according to law; if it constitutes a crime, he should be investigated for criminal responsibility according to law." Lawyer Cao Hanbing said that at present, the law of our country has clear provisions on the infringement of privacy rights.

　　Previously, in two incidents, including the exposure of Faye Wong’s file photos and the exposure of the identity information of Li Yifeng and Yang Yang, many of the staff involved were given warnings and suspended. Is the punishment for dismissing the leaker too severe?

　　Article 26 of the "Interim Regulations on Real Estate Registration", which came into effect on March 1, 2015, explicitly requires that "real estate registration institutions, real estate registration information sharing units and their staff shall keep real estate registration information confidential."

　　For violations of the above requirements, Article 32 of the regulations also makes it clear: "Real estate registration agencies, real estate registration information sharing units and their staff, units or individuals who inquire about real estate registration materials violate state regulations, disclose real estate registration materials and registration information, or use real estate registration materials and registration information for improper activities, causing damage to others, shall bear the liability for compensation according to law; the relevant responsible personnel shall be punished according to law; if the relevant responsible personnel constitute a crime, they shall be investigated for criminal responsibility according to law."

　　"The staff who leaked real estate information was fired this time, and the punishment is relatively not heavy," Cao Hanbing, a lawyer, said.

　　What should I do if my privacy is leaked?

　　You can complain to the police; you can also ask the other party to apologize.

　　"First of all, we need to raise awareness of privacy protection." Lawyer Cao Hanbing said that in order to safeguard their rights to personal privacy, citizens should first know what personal privacy rights are. "Address, phone number, ID information, property status, etc., are all personal privacy."

　　"When citizens discover that their private information has been infringed, they have the right to ask the leaker or the unit to delete the relevant information or take other necessary measures to stop it," he said. If a citizen’s personal private information is posted online, the party concerned can immediately notify the network service provider in writing and require necessary measures such as deletion, blocking, and disconnection of links. "If the network service provider fails to take necessary measures in a timely manner after receiving the notice, it will be jointly and severally liable for the expanded part of the damage."

　　Lawyer Cao Hanbing said that any organization or individual who steals or otherwise illegally obtains, sells or illegally provides citizens’ personal electronic information to others, as well as other illegal and criminal acts of private information, "the parties can immediately report to the public security organs, or they can immediately complain to the relevant competent departments."

　　"The infringed party can also file a lawsuit according to law, asking the other party to apologize, eliminate the impact, compensate for losses, etc.," he said.

　　However, the Beijing News reporter found that most of the stars involved in the above two star leaks did not ask the staff involved to apologize or compensate.

　　Writing/Beijing News reporter, Yang Feng, intern, Sun Yi

The content of the 2021 annual board of directors’ management review is as follows:

　　I. Discussion and analysis of operating conditions

　　In the first half of 2021, the backlog of household consumption demand affected by the epidemic was gradually released, and the company’s various operating data were quickly repaired; since the second half of the year, real estate-related regulatory measures have been introduced one after another, and consumers’ willingness to buy houses has been affected to a certain extent in the short term.

　　However, no matter how the general trend changes, consumers’ pursuit and yearning for a better life have not undergone fundamental changes, and the basic needs of "decorating a personalized home" have not undergone fundamental changes. Therefore, the company insists on continuously meeting the needs of consumers as its mission. Through measures such as reaching customers through omni-channel, creating high-value, efficient products and extreme scene experiences, optimizing professional case design and one-stop matching, it has continuously tackled difficulties in the unfavorable environment of intensified competition and sharp fluctuations in raw material prices.

　　During the reporting period, the operating income was 20.442 billion yuan, an increase of 38.68% year-on-year, and the net profit attributable to shareholders of listed companies was 2.666 billion yuan, an increase of 29.23% year-on-year.

　　2021 is the first year for the company to launch the long-term development goal of "turning Europai into a world-class home furnishing group". The three major systems of marketing, function and manufacturing are fully coordinated, and they have taken a solid first step.

　　(I) Functional system

　　During the reporting period, adhering to the tenet of business promotion, service and guarantee, the functional system is based on the medium and long-term incentive mechanism, and promotes the dynamic control of salary and preparation; continuously improves the efficiency of capital use, operation accounting efficiency, financial settlement efficiency and quality; in extreme environments, multiple means to ensure the supply of raw materials, and multiple measures to implement procurement control costs; strengthen the system governance and supervision and verification functions, firmly adhere to the bottom line of compliance, and consolidate risk control; the digital construction of internal affairs has achieved obvious results, and the logistics support work has been further transformed and upgraded.

　　(2) Manufacturing system

　　In 2021, due to repeated epidemics, logistics interruptions, raw material price increases, superimposed environmental protection production restrictions, power cuts and many other unfavorable factors, the manufacturing system through the effective implementation of lean improvement, intelligent manufacturing, information construction, incentive mechanism reform and innovation, greatly improve the production efficiency, significantly reduce the comprehensive cost rate of manufacturing, meet the customer’s increasingly stringent requirements for product quality, price, delivery and service, providing a strong guarantee for the realization of the company’s business goals.

　　1. During the reporting period, the company’s wardrobe net aldehyde upgrade, integrated research and development, cabinet door branch production, door panel new product development and promotion and other key projects achieved remarkable results; wooden door lean production model reform and engineering system special project construction achieved phased results; cabinet standardization and other projects achieved initial results;

　　2. The improvement of the operation of each production base has achieved remarkable results. During the reporting period, a total of nearly 200 lean improvement projects were carried out. At the same time, the Group was escorted by means of fine control and operation standardization to reduce costs and increase efficiency.

　　During the reporting period, the company completed more than 400 types of new Product Research & Development in 2022; the company’s R & D center was awarded the National Industrial Design Center; the product won a number of German Red Dot Awards, Japan G-MARK Design Award and other international design awards; the home product system was fully upgraded, greatly integrated, streamlined and optimized; the pre-research technology development results were excellent, and the cost was effectively reduced by more than 10 million; the performance growth momentum of smart home related products is gratifying.

　　4. The procurement informatization has achieved remarkable results: the coverage rate has risen to 98%, and the "iron triangle" function of the three-level coordinated procurement system of groups, business lines, and bases has begun to show results.

　　(III) Marketing system

　　1. The Oupai wardrobe (customized for the whole house) is imposing like a rainbow, and the peak is determined in Kunlun

　　In 2021, Oupai Wardrobe (Whole House Customization) will cut through the thorns all the way with the "trend of the king" and attack the city. First, in order to meet the urgent demands of consumers for environmentally friendly home furnishings, from a single substrate without aldehyde to space net aldehyde, break the situation with "net aldehyde" and lead a new round of "environmental protection wave" in the industry; second, profound innovation and change, from layout display to event landing, marketing model innovation to bag carrying, e-commerce, home improvement, and complete decoration channel expansion, all-round attack, and comprehensive customer acquisition; third, breakthrough to lead the whole customization, extending cabinet customization to space customization, leading the industry with "three high" (R & D, appearance, strict) standards, injecting new momentum into the company’s future development.

　　2. Oupai cabinets are strong and empowered

　　In 2021, the core competitive advantages of Oupai cabinets will become more solid and prominent. First, more than 1,300 new and newly installed stores will be opened throughout the year; more than 3,000 retail dealers will be promoted to cooperate with the installation enterprises; more than 600 stores will be opened throughout the year through innovative integrated kitchen business models; second, the multi-point layout of complete decoration, distribution, and integrated kitchens will build channel advantages and lead the development direction of all channels; third, we will grasp the pulse of the market, create new marketing models such as "healthy kitchen" and "old kitchen rejuvenation", and fully inject new momentum into business development, fully reflecting the strength and appeal of the world’s leading cabinet brands.

　　3. The whole house is equipped to ride the wind and waves and make great progress

　　2021 is the fourth year that the home furnishing industry is leading the way, and it is also the year of "breaking the game" for the European home furnishing industry. The annual order performance has increased by more than 90% year-on-year, achieving high-speed growth. The first is to launch a new brand "StarHomes Star Home", realize the integration of dual brands into the entire customized track, and consolidate and further expand the company’s leading advantage in the complete track under the strategic policy of "two wings go hand in hand, global coordination"; the second is to take customized products as the core + resource integration + double dragon alliance form of continuous evolution, give full play to the unique advantages of European products, effectively fill the product shortcomings of home improvement companies, and further strengthen the empowerment of end points; the third is to carry out a full range of "blood transfusion" and "wisdom transfer" for large home furnishing dealers to help the reconstruction of the end point operation system, the transformation of the management model and the improvement of the overall operation efficiency.

　　4. Actively respond to large-scale businesses and seek progress while maintaining stability

　　In 2021, Oupai’s bulk business will actively adjust its business rhythm in response to market changes, strictly control risks, and seek progress while maintaining stability. First, it will give full play to its multi-category R & D and manufacturing advantages, and cooperate with high-quality strategic customers to carry out a number of co-researched parts and supporting projects for accurate matching; second, it will give full play to the advantages of large home furnishings, fully penetrate the hardcover post-loading business, and transform from a hardcover material supplier to a hardcover whole service provider; third, it will deeply cultivate talent housing, affordable housing, and the reconstruction of old residential areas in various places, as well as national key supporting projects in Beijing, Xiongan New Area, Shenzhen, and other regions. Therefore, even in the context of severe competition in the real estate fine decoration supporting business, the company’s engineering business has hardly been affected by minefield projects, and has achieved steady growth

　　5. Obli transforms and moves forward, without stopping

　　Focusing on the strategic policy of Dare to "break through" and "create", Ou Boli has comprehensively upgraded its products, display and sales, achieved the promotion of the "whole house customization" industry, and successfully entered the first competitive echelon in the industry. The first is to carry out a new brand positioning of "specially born for the Me generation", and the target customers are more focused; the second is to reshape the original light luxury product system with "beauty", "quality", "material" and "interesting" as the core, and implement high, medium and low breakthroughs in the price belt to effectively expand the customer base; the third is to create a traditional retail upgrade + bag + packaging enterprise + e-commerce Obli channel ecological chain to realize the transformation to retail service providers, and maximize the passenger flow; the fourth is to expand the sales model from closet clothes to full-category full-house customization of "closet clothes, wood and bathroom + electrical appliances + home accessories" to achieve the transformation and upgrading of the end point profit model.

　　6. Opponi wooden doors are making multi-dimensional efforts, firmly ranking first in the domestic wooden door industry

　　In 2021, Ouponi wooden doors will make multi-dimensional efforts and achieve rapid growth in performance. First, brand building: around the five-defense function of the category, complete multiple rounds of new product launches through product + star dual IP blessing, and build a professional brand moat; second, channel deepening: the proportion of high-quality dealers throughout the year has been greatly increased, and home improvement cooperation channels have been deeply dug; third, model innovation: the M6 profit model has highlighted the effect, and the V3 sales design certification project has helped the customer order value to increase significantly. Throughout the year, a number of star tour live broadcasts and top-stream live streaming host live broadcasts have been completed, helping to receive more than 120,000 orders.

　　7. Oupai Sanitary Ware continues to lead the transformation of the bathroom industry

　　In 2021, Oupai Sanitary Ware, as the pioneer of Quanwei customization, will continue to lead the transformation of the bathroom industry, release Quanwei space health solutions, and strongly promote Quanwei customization into the 3.0 era. First, to create a new retail model of () integrated marketing communication; second, to complete the whole package, open up engineering channels, and successfully build a multi-channel business model; third, to establish a global strategic supply cooperation alliance to create a new marketing model of integrated bathroom space design, one-stop matching, and package services, and redefine the new standard of the industry.

　　(4) Digitization, informatization, and intelligence help "build Oupai into a world-class home furnishing group"

　　The information value chain of customized home furnishing is very long, and every link such as design, order placement, production, logistics, installation, and after-sales needs to be connected through information technology in order to provide users with a complete product customization experience. Focusing on the construction goal of "design and manufacturing integration, centralized planning, multi-base collaborative production, and intelligent manufacturing system support", the company has successfully built a large-scale non-standard customized home intelligent manufacturing support technology platform and an industrial Internet platform. It has built a full three-dimensional information model that supports the integration of large home furnishing design, display, and manufacturing. It has established a data center and a central product platform for marketing and manufacturing. Through the data intelligence center, it has realized the information management of the whole process from self-design to after-sales of customized products.

　　As a large-scale non-standard customization enterprise with an annual output of over 900,000 sets of cabinets and an annual output of over 2.90 million single wardrobes, the successful application of information technology has greatly improved the efficiency of the company in all aspects of design, quotation, order placement, order dismantling, technical review, price review and settlement, and correspondingly improved the efficiency of the entire chain.

　　1. Marketing informatization

　　During the reporting period, more than 7,000 stores across all categories and channels of the company have realized the full application of self-developed CAXA home design software. At present, CAXA home design software has realized the integrated design and scene sales of the whole house space (kitchen, clothing, wooden doors, wall panels, bathroom, balcony, home accessories). Intelligent technology applications such as intelligent design, one-click rendering, one-click process inspection, one-click quotation and one-click order placement not only make the design efficient and smooth and display realistic, but also ensure data quality, providing a strong guarantee for the integration of design, manufacturing and supply chain, and the digitalization of the whole business chain. In 2021, there were nearly 30,000 CAXA design software charging accounts, forming a cloud computing power support capability with more than 40,000 single-day online design solutions, more than 100,000 orders placed on peak days and more than 400,000 high definition rendering graph, which is the most cloud computing power for domestic customized enterprises.

　　2. Manufacturing informatization

　　The MSCS production scheduling control system and XMES flexible manufacturing management system independently developed by the company have reached more than 1 million pieces of board parts per day; fully realized the "75% trial-free, 85% trial-free and quick review, and 95% one-time pass" of customized orders; the settlement center and TIMS (delivery information system) platform completed the construction, comprehensively improving the efficiency of dealer capital settlement and order logistics warehousing and distribution management; innovating information models and software applications such as PLM, MPCS, and intelligent batch optimization, empowering manufacturing to reduce costs and increase efficiency; the order conversion capacity and level of such a large-scale non-standard customized home intelligent manufacturing support platform fully support the efficient operation of the world’s largest customized home enterprises.

　　3. Functional informatization

　　"Smart Park, Smart Office, Smart Manpower, Smart Process" The four-intelligence system has deepened the development and application, and entered a new stage of development of "Safe Europe + Smart Europe".

　　

　　II. Industry situation of the company during the reporting period

　　(A) the basic situation of the industry

　　According to the National Economic Industry Classification issued by the National Bureau of Statistics in 2019 (GB/T4754-2017), the company is engaged in the wooden furniture manufacturing industry (C211) in the furniture manufacturing industry (C21); according to the "Guidelines for Industry Classification of Listed Companies (Revised in 2012) " issued by the China Securities Supervision Commission (Announcement of the Securities Supervision Commission [2012] No. 31), the company is engaged in the integrated innovation industry in the furniture manufacturing industry in the manufacturing industry – the overall home furnishing industry.

　　2. The industry in which the company is located is the furniture industry. Since 2018, with the changes in the real estate market and the adjustment of the channel structure, the overall growth of the furniture industry has been under pressure. The furniture industry has strong offline experiential consumption characteristics, and end point stores are important space display places and bear the functions of transaction links. Affected by the repeated impact of the COVID-19 pandemic in some regions and cities across the country, there are certain uncertainties in the operating environment and market conditions of furniture enterprises. End point retail channels are under pressure. Under the influence of epidemic prevention policies, furniture stores and end point outlets are temporarily closed, and installation service personnel cannot come to the door for delivery and installation, which in turn leads to the overall growth of furniture manufacturing revenue in the past two years under certain pressure. With the epidemic gradually under control, the backlog of consumer demand for some furniture was delayed, offline stores resumed normal business, and the retail market performance of the furniture industry gradually picked up. According to the statistics of the National Bureau of Statistics, the annual operating income of the furniture manufacturing industry was 800.46 billion yuan by the end of 2021, an increase of 16.42% compared with 2020.

　　3. The company’s subdivision is the custom furniture industry, and the specific categories can be divided into custom cabinets, custom wardrobes (whole house customization), custom wooden doors, custom bathroom cabinets, etc. With the improvement of consumers’ preference for personalized customized products, the improvement of the storage function demand for living space and the enhancement of the demand for unified overall style and "high value", the application field of customized furniture expands from kitchen space to bedroom, living room, balcony, bathroom, wall board and other spaces, and the penetration rate of subdivision categories also increases with the increase of consumer usage ratio. Customized furniture can better meet the composite needs of home improvement consumers for product function, appearance, and storage from the perspective of consumer demand. Mature custom cabinets, custom wardrobes in the growth stage (whole house customization), and other categories are each rejuvenated.

　　(2) Industry characteristics

　　1. Periodic

　　Custom furniture belongs to consumer discretionary, macroeconomic development cycle, real estate sales cycle, changes in national income and consumer consumption concepts, etc., will have a certain cyclical impact on the custom home industry.

　　2. Seasonality

　　Customized furniture industry has seasonal characteristics, mainly related to the purchase of commercial housing and the delivery time of commercial housing, and also related to the secondary decoration of residents’ old houses. At the same time, due to the vast territory of our country and the large climate differences, there is also a certain correlation between seasonality and geographical distribution.

　　3. Decentralization of layout

　　The overall market structure of the custom furniture industry is relatively fragmented. According to the data of brokerages and the industry, the CR5 is estimated to be about 15%. Although the market share of leading enterprises is gradually increasing, it is still relatively low compared with mature industries such as home appliances. The regional decentralization of dealers, the low entry and exit threshold of the industry, the persistence of long tail market demand, and the further improvement of traffic fragmentation have delayed the process of increasing industry concentration. Specifically, the following reasons include:

　　(1) Regional decentralization of distributors

　　The retail channel layout of the custom furniture industry mainly relies on dealers. Dealers have strong regional characteristics, and the business area is divided into a single city. The number of large merchants who can operate in a company is small, and the proportion of the total is low. Most dealers are mainly self-employed, so the market share in a single city is relatively low, which brings about a lower overall proportion of custom furniture enterprises. The characteristics of dealer channels determine that the custom furniture retail channel is highly fragmented.

　　(2) Low entry and exit barriers to the industry

　　The custom furniture industry has gradually formed a standard model in terms of production and manufacturing links, information systems, etc. The cost of production equipment procurement is relatively affordable, the investment in fixed assets in the early stage is limited, and small and medium-sized enterprises can rely on a mature supply chain system for production capacity construction. Therefore, the industry entry threshold is relatively low; if the operation is not good, the silent cost such as end point store closure is relatively easy to accept, so the industry exit threshold is relatively low. The above reasons for the clearance of small and medium-sized enterprises are not irreversible, and the integration process of the industry is delayed.

　　(3) The degree of traffic fragmentation is further improved

　　At present, the demand flow entrance is further dispersed, and multiple channels such as hardcover, bag check-in, and complete packaging are developing in parallel with traditional retail channels, which also affects the improvement of market concentration.

　　(C) the status of the company in the industry

　　Since 2011, companies in the custom furniture industry have landed in capital markets one after another, and have gradually attracted widespread attention. From the perspective of the overall scale of operating income and net profit and the scale comparison of sub-categories, the company ranks in the leading position in the same industry. It leads its peers in many aspects such as Product Research & Development innovation, marketing idea expansion, channel mining and expansion, and takes the lead in running out of a relatively mature and feasible business model to create more possibilities for consumers’ better home life. As a global leader in custom cabinets, the company has achieved medium and high-speed growth under the condition of high base. The leading position in the industry has been continuously consolidated. The revenue scale, end point brand influence and channel layout to reach consumers far exceed that of global companies in the same industry. With the continuous development of the company’s customized wardrobe (whole house customization) products and accessories, the revenue scale has jumped to the industry leader, and the "Oupai" brand influence has continued to strengthen among various categories, and the competitive advantage has continued to highlight.

　　According to the statistics of the third quarter report of 2021 of 9 listed companies in the custom home furnishing sector, the company achieved operating income of 14.40 billion yuan in January-September 2021, accounting for 38% of the sum of the operating income of the above-mentioned custom home furnishing listed companies; the company achieved a net profit of 2.10 billion yuan in January-September 2021, accounting for 51% of the sum of the net profit of custom home furnishing listed companies.

　　

　　III. The company’s business during the reporting period

　　(A) the main business of the company

　　Oupai Home Furnishing was established in 1994 and is a leading one-stop high-quality home integrated service provider in China. The company is mainly engaged in personalized design, research and development, production, sales, installation and interior decoration services of whole house home furnishing products. The company started with custom cabinets and extended from cabinets to whole house products, covering whole kitchen, whole wardrobe (whole house customization), whole bathroom, custom wooden door system, metal doors and windows, soft decoration, furniture matching and other whole home products. The company is committed to customizing a unique home for each family, so that more families can enjoy high-quality home life experience.

　　Quanwei customization

　　(2) The company’s main business model

　　The products operated by the company mainly adopt the order-based production model, and "tailor-made" is the core of the company’s business model. The staff of the company’s specialty stores design corresponding solutions according to the customer’s house space layout and size, personalized preferences, functions, etc., and render renderings through the company’s self-developed information sales system for customers to make consumption decisions; after the customer confirms the design plan, the order is directly transmitted to the company’s production department through the information system. The company organizes production according to the order content, and finally realizes the delivery and installation of customized home products. The company adopts a vertically integrated business model, covering all aspects from raw material procurement, design and development, production and manufacturing, branding, product sales, etc., to achieve effective control of the entire industrial chain.

　　1. Procurement model

　　(1) The company’s procurement process and procurement process

　　The company has developed a complete management system and standard system for the procurement process to achieve unified internal material specifications and unified procurement technology Quality Standards to form the basis for large-scale procurement; establish a secondary procurement model for headquarters and bases to improve the effectiveness of comprehensive supply chain management, strengthen procurement plan management, timely and effective supply, and reduce sluggish materials. The products purchased by the company mainly include production raw materials such as plates and functional hardware, product accessories, and household accessories such as kitchen appliances.

　　From the perspective of procurement, the company’s procurement business can be subdivided into front-end business and back-end business. The front-end business is handled by the group’s supply chain management center and procurement center. The supply chain management center is responsible for supplier selection, assessment and evaluation, and procurement price management, so as to achieve the unification of the supply channels of the same materials in each business sector. For materials and equipment whose annual consumption reaches a certain scale, the company adopts the method of on-site invite tenders to issue invite tenders to qualified suppliers. Through on-site invite tenders to achieve the best selection and achieve the expected procurement goals; the procurement center is responsible for classifying and summarizing the amount of materials used by the group, coordinating the implementation of centralized procurement in each production base, and giving full play to the scale advantages of procurement. The procurement back-end business is the execution of specific purchase orders and material acceptance, which is mainly implemented by the physical control departments under each product manufacturing line.

　　(2) Raw material inventory arrangement

　　In order to strengthen the management of raw materials, ensure the continuous supply of materials, rationally control inventory, standardize the process of entering and leaving warehouses, and maintain the safety and integrity of assets, the company has developed a relevant system for raw material inventory management.

　　According to the company’s procurement implementation management measures, the material management department sets the safety inventory. The person in charge of inventory analyzes the rationality and effectiveness of material arrangement through data and inventory arrangement. If there is any abnormality, timely feedback procurement to modify the relevant material items to ensure that the material inventory is controlled in the best state that neither the production is "shut down for materials" nor the material inventory is inflated. Ensure that the number of material turnover in the warehouse meets the predetermined requirements. At the same time, strengthen the inventory period management. All kinds of raw materials and materials are set with an effective storage period. The material distribution is strictly in accordance with the first-in, first-out principle, and the daily work is strictly in accordance with the 5S management and safety management specifications in the warehouse. In the outbound management link, each production workshop counts the material demand according to the daily production task, and the inventory management department conducts the material delivery work after receiving the valid receipt credentials.

　　2. R & D model

　　The company has set up a Home Furnishing Product Research & Development Center at the group level, which is responsible for coordinating and coordinating the company’s product and technology development management work. At the same time, the company’s overall cabinets, overall wardrobes, large homes, overall bathrooms, custom wooden doors, doors and windows and other business segments have product planning and R & D departments. Each product Research & Development department of the company prepares annual new Product Research & Development tasks, temporary Product Research & Development design tasks and extended design tasks according to market trends, product sales analysis and company development needs. The R & D department, sales department, purchasing department, process department, production department, and quality department all perform their duties and cooperate in the evaluation of new materials, new product renderings, and physical samples to ensure that new products are successfully introduced to the market with excellent quality and mature technology.

　　The company has always adhered to original design. In addition to having a number of high-level designer teams, it has also reached strategic cooperation alliances with well-known domestic design studios, Italy and other top designers. Mature Product Research & Development management system, perfect training and R & D incentive mechanism make the company’s R & D level and innovation ability always at the leading level of the overall home furnishing industry.

　　3. Production model

　　Different from the production of standard home products, custom home enterprises generally have a series of difficulties in order processing, high information requirements, huge data volume, and high processing accuracy in the production and manufacturing process, resulting in a high threshold for large-scale home customization production. At the same time, with the advent of the digital integration era, the division of labor in the industrial chain has become deeper, and intelligent manufacturing has become a new development direction for the custom home industry.

　　In order to comply with the development trend of modern manufacturing industry, break through production bottlenecks, focus on the big pattern of Oupai Manufacturing 2025, and achieve another breakthrough in information construction, Oupai fully absorbs the TPS production model, based on the characteristics of the custom home furnishing industry, focusing on the three end-to-end processes of product engineering data flow (from product design to production), production information flow (from customer demand to production instructions), and production process flow (from material to finished product shipment), and using the self-developed information management system as a link to efficiently connect, integrate and integrate. In order to achieve the connection between design and digital production and manufacturing, the integration of the information system of the whole business chain, the integration of production process, equipment automation and intelligence, and maintain the leading advantage of Oupai manufacturing information in the home furnishing industry.

　　4. Sales model

　　The company adopts a compound sales model based on dealer stores, supplemented by bulk business, direct-operated stores and exports.

　　(1) Dealer store sales model

　　A. Traditional dealer model

　　The dealer store sales model is the main sales model in the custom home furnishing industry. It refers to the selection and cultivation of dealers who recognize their own brand value, strong financial strength, good market reputation and rich market experience, and sign a "Cooperation Agreement" with them. Authorize them to set up specialty stores to sell products produced by enterprises in specific areas, and the dealers bear their own business risks. In the process of production and operation, the company provides timely assistance and empowerment to dealer personnel training, operation and management. The advantage of the dealer store model is that enterprises can make full use of the dealer’s experience and social resources, quickly build sales channels and networks, refine market end point marketing, and form a marketing promotion strategy that is highly in line with the local market environment, which is conducive to the rapid expansion of market share.

　　B. Decorated home model

　　The continuous promotion of domestic hardcover and decoration business has a more obvious impact on the passenger flow of traditional retail channels. Among them, home improvement companies, as the front entrance, have a greater role in diverting passenger flow. In order to layout the decoration channels and expand customer resources, the company took the lead in expanding the decoration channels in the industry, and began to pilot the European home furnishing business model in 2018.

　　Oupai Home Furnishing refers to the company’s direct selection and cooperation with large-scale and well-known high-quality home improvement companies in various places, making full use of the company’s high branding impression, rich product categories, category matching process plate integration and other advantages, supplemented by the company’s mature information sales system, quickly import the end point of the installation enterprise, greatly improve the efficiency of the end point, shorten the running-in period, and synchronously empower the brand and product. In the entire Client Server link, the company is responsible for product manufacturing and marketing support, etc. The home improvement company is responsible for providing customized home design and installation services and home improvement design landing construction.

　　The expansion of the whole decoration business is conducive to the company to expand customer flow channels in the new market environment and seize market share. The company actively implements the marketing assistance policy of whole decoration dealers, and accelerates the development of whole decoration channels and the construction of marketing end point models. At the same time, the company strengthens and guides Oupai retail dealers to cooperate with local home decoration and whole decoration channel companies through mechanism design, promotes retail and whole decoration dealers to work together to activate the consumption of customized home products in the local market, and works together to complete the sales expansion of Oupai to the local home decoration market and enhance the overall share of Oupai brand.

　　(2) Direct-operated store sales model

　　The direct-operated store sales model refers to the company’s use of equity funds to open "Oupai", "Oupai", "Oupai", "Oupai" and "Oupai" series brand stores in large stores, shopping centers, and street-facing stores to sell the company’s products (including Oupai cabinets, Oupai wardrobes, Oupai bathroom, Oupai wooden doors, Oupai whole house customization, etc.). At present, the company has opened direct-operated stores in Guangzhou.

　　(3) Bulk business sales model

　　The company signs product supply and installation contracts with real estate developers or engineering contractors, and the company is responsible for the supply. The engineering service provider is the actual operator of the project performance, responsible for the design, transportation, installation and after-sales of related products. The company signs agreements with engineering service providers and supervises the performance of engineering service providers.

　　(4) Export sales model

　　There are two main modes of product export: foreign bulk business sales and foreign retail sales. Foreign bulk business sales refer to the company’s independent participation in project negotiation, contract conclusion and performance; foreign retail sales refer to the company’s sales of the "Oupai" series of household products through retail channels or in the form of choosing foreign distributors.

　　5, branding mode

　　The company attaches great importance to the construction of Oupai Home Furnishing’s series of brands, branding mainly through several aspects:

　　(1) Brand planning. Based on the research of enterprises, brands, industries, and consumers, elevate the company branding to the height of corporate business strategy, propose the medium and long-term development strategy of corporate brand, and guide the specific brand marketing tactics in the future. Deeply dig into the core value system of the brand, and take it as the center to establish a strong brand identity system to bring strong associations to consumers.

　　(2) Brand publicity. In order to standardize the company’s brand publicity, improve brand management, promote brand development, effectively protect the brand, and maximize brand value, the company has formulated a detailed brand management system, implemented various public welfare brand advertising, in-feed ads, and soft news publicity in various media channels, and actively participated in various public welfare sponsorship activities, organizing various celebrations, press conferences, promotions, and investment exhibitions.

　　(3) Channel layout and promotion. Fully implement the "10 + 1" end point business model. Through a wide range of distribution stores, unified and tidy design and decoration, and well-trained professionals to display the overall image of the company, improve the popularity and reputation of the "Oupai", "Oupai", "Oupai", "Oupai" and "Oupai" series brands. The company has a complete assessment, supervision and early warning mechanism for the operation effectiveness and service quality of dealers to protect the interests of end point consumers to the greatest extent and maintain the reputation of the Oupai brand. The company’s dealer management level has always been ahead of the same industry.

　　6. Sales logistics and warehousing models

　　In order to standardize the warehousing and logistics process of the company’s various categories of products, the company has formulated relevant systems covering warehousing, shipping, and material information service management, and set up a logistics center under the manufacturing system to be responsible for the logistics management of the group’s products. At the same time, in response to the lack of in-transit management in the industry, high transportation losses caused by multiple transits, and problems of wrong and missed goods, the company actively explores a new business model for customized home products logistics.

　　

　　IV. Analysis of core competitiveness during the reporting period

　　(1) Powerful brand influence

　　Since its establishment 28 years ago, with its strong scale and strength advantages, Oupai has been diligently pursuing on the road of specialization, and constantly serving domestic and foreign consumers with the advantageous products of "European quality and Chinese price". The "Oupai" brand has a considerable branding impression and influence in the minds of consumers, and is gradually transforming into reputation and trust. The advertising slogan "Home, Love, Oupai" has been deeply rooted in the hearts of the people. From 2016 to 2021, Oupai was selected as one of the top 500 Chinese brands for six consecutive years with its strong brand strength, and rose year by year. In 2021, it ranked 138th with a brand value of 43.951 billion yuan. In addition, Oupai was also selected as one of the top 500 private enterprises in China’s manufacturing industry for five consecutive years. In 2019, 2020 and 2021, it won the honors of "Hurun China Top 500 Private Enterprises" and "China Top 500 Manufacturing Enterprises" for three consecutive years.

　　Strong end point sales system

　　After years of channel investment and construction, the company has established the largest marketing service network in the home furnishing industry, which cooperates closely with the group, grows together, and spreads across the country. It has the most powerful dealer (service provider) resources in the industry and distributes more than 7,000 stores. In terms of end point management, since its establishment, the company has been adhering to the concept of dealer roots, and has pioneered a perfect dealer management system such as thousand points assessment mechanism, "10 + 1" Oupai end point marketing system, double 50 theory, and storefront 4S management, and effectively implemented it. At the same time, the company conforms to the development trend of the industry, deepens the omni-channel development strategy, and builds a more mature channel operation model with retail and packaging channels as the backbone, engineering and e-commerce channels as the two wings, and direct sales and foreign trade channels as important support.

　　(3) The advantages of digitalization, informatization and intelligence are empowered

　　Yao Liangsong, chairperson of the company, said that "first-class informatization may not necessarily achieve first-class enterprises, and first-class enterprises must have first-class informatization." As the world’s largest double-material champion manufacturer of single-product custom cabinets and whole-house customization, Oupai has provided full-process digital transformation and construction after five years of enterprise transformation and upgrading. It has established a global and lean information development team including the group’s marketing information center, manufacturing information center, functional information center, and professional software company (Beijing Jiaju Technology). It has independently built core systems such as marketing support software MTDS, design software CAXA, MSCS, MOMMES, TIMS, etc., marking that the intelligent technology platform centered on cloud design, big data application, and robot flexible manufacturing has entered the practical application stage. Digitalization, informatization, and intelligence will help "make Oupai a world-class home furnishing group".

　　In the past five years, Oupai Informatization has taken the digitization and intelligent integration of product design and manufacturing as the R & D direction, and around the construction goal of "design and manufacturing integration, centralized planning and multi-base collaborative production, and intelligent manufacturing system support", the company has successfully built a large-scale non-standard customized home intelligent manufacturing support technology platform and an industrial Internet platform, built a full three-dimensional information model that supports the integration of large home design, display and manufacturing, and established a data mid-table and central product platform for marketing and manufacturing. All aspects of marketing, design, production and delivery have been fully digitized and cloud-based, forming a closed loop of data links, and realized the information management of the whole process from self-design to after-sales of customized products through the digital intelligence center.

　　(IV) Mature and efficient systematized operation advantages

　　The company attaches great importance to system construction and implementation. There are more than 700 business systems, covering three major system businesses: function, manufacturing and marketing. Based on the customized attributes of the company’s products, in order to respond to the individual needs of customers and the rapid changes in channels, the company adjusts its business strategy in a timely manner to gain a first-mover advantage in channel change, integration and industry reshuffle. The systematic coordinated guarantee mechanism oriented by marketing front-line needs is the end point to escort product competition, channel preemption, strategy adjustment, management upgrade and other aspects, and continues to empower, always maintaining the strong competitiveness of the European system.

　　Mr. Yao Liangsong, the controlling shareholder of Oupai Home Furnishing, and the company’s core management have rich industry experience in the home furnishing industry, and have a good judgment and grasp of the industry’s strategic trends, enterprise development direction, employment mechanism, and incentive measures.

　　And with the company’s leading position in the industry becoming increasingly stable, the company’s talent introduction strategy of "building a nest and attracting phoenix" has also been carried out smoothly, attracting more high-quality industry talents to join Oupai, and working together to achieve the grand goal of "turning Oupai into a world-class home furnishing enterprise".

　　(5) Strong product and process R & D and innovation capabilities

　　The company adheres to innovation to promote development, constantly independent research and development, innovation, and unremitting research and development of new products, new materials, new processes, and new technologies, so that the company’s process and R & D level is always at the forefront of the industry. In order to meet market demand, the company has continuously researched and explored in the fields of product process structure design, new material development and application, and process quality management. The company’s leading process technology level provides a strong technical guarantee for the production of high-quality customized furniture products. The company continues to improve and innovate production technology, uses informatization as a tool and means to promote the improvement of process technology, establishes a technical talent incentive assessment mechanism with results as the guide, and establishes a perfect process-level process control system.

　　After years of hard work, the company’s product development has gradually transitioned from single product customization to whole-house customization, whole-house customization, and from single new product design to new product design, extension design, and functional design. As of December 31, 2021, the company and its holding subsidiaries owned a total of 595 patents and 84 computer software copyrights.

　　(6) Flexible large-scale non-standard customization capacity

　　In the early 1990s, Europai took the lead in introducing the concept of European "integrated kitchen" to China, pioneering the industrial production of modern cabinets in China, and was known as the advocate of China’s "kitchen revolution". With the company’s continuous R & D investment over the years, deep technical process reserves, leading home furnishing R & D strength, and bargaining power in the upstream and downstream of the industrial chain, the company has explored a large-scale non-standard customized product manufacturing model with Europai characteristics. At present, the company’s total production scale of customized furniture products ranks first in the industry. The company’s production capacity design is based on the national layout and large home furnishing strategy, relying on manufacturing to build four production bases: East (Wuxi Base), South (Qingyuan Base), West (Chengdu Base) and North (Tianjin Base), forming a national capacity radiating East China, South China, West China and North China.

　　

　　V. Main operating conditions during the reporting period

　　During the reporting period, the operating income was 20.442 billion yuan, an increase of 38.68% year-on-year, and the net profit attributable to shareholders of listed companies was 2.666 billion yuan, an increase of 29.23% year-on-year.

VI. Discussion and analysis of the company’s future development

　　(I) Industry patterns and trends

　　1. According to the research data of the "2021 China Internet Home Furnishing Development White Paper", the consumption of home users is developing in a rational direction. In the choice of home building materials, 82% of the survey users value the environmental protection, health and safety of home building materials the most, and 77% of the survey users value health and comfort the most in the choice of furniture. Based on the upgrade of consumers’ demand for environmental protection and health, on April 16, 2021, the company exclusively released "Alaldehyde-free Healthy Home 2.0", and used it to launch the second generation of aldehyde-free additions with five functions of formaldehyde-free addition, its own net aldehyde, antibacterial, mildew-proof, and net taste – the net aldehyde antibacterial love core board, leading the whole house customization industry to start a new round of environmental protection upgrades, and solving the home environmental protection problems that have plagued consumers for many years. The second-generation formaldehyde-free addition technology is independently developed by the company, and it is difficult for industry brands in the same industry to quickly follow up on technology in a short period of time, which further strengthens the company’s differentiated positioning and advantages in environmental protection product technology upgrades, and continues to consolidate its leading position.

　　Data source: "China Internet Home Furnishing Development White Paper 2021", Douyin Home Furnishing Interest User Survey, September 2021

　　2. In terms of channels, the passenger flow structure continues to adjust, the growth of traditional channels is under pressure, and the integration of traffic fragmentation has become a medium- and long-term trend. In terms of categories, multiple categories are integrated and penetrated into each other, and the boundaries between categories are gradually blurred. Due to the low barriers to entry in the industry, end point demand presents a long tail distribution, and there are a large number of small and medium-sized enterprises in the industry. The repeated appearance of epidemics has accelerated the industry reshuffle and competition landscape optimization. Some small and medium-sized enterprises have taken the initiative to withdraw from the market due to capital turnover, customer acquisition pressure, etc., which is conducive to the concentration of market share to the leader. Customized furniture head enterprises have shown In addition, following the big home furnishing strategy, the whole decoration channel has become an important direction of active layout and implementation in the development planning of many customization enterprises. The whole decoration company and customization enterprises have promoted the market share from the decentralized long tail to the concentration in the form of specialized division of labor.

　　3. Based on the macro-economic level and the industry environment level, the company’s competitive advantage is mainly reflected in the first-mover advantage of strategic layout and the product advantage, brand advantage, channel advantage and informatization advantage accumulated therefrom. The first-mover advantage of strategic layout is reflected in continuously leading the development path of the industry, tapping growth opportunities ahead of peer companies, and forming a good demonstration and leading effect to lead the industry to explore new growth momentum. Product advantage is reflected in the company’s strong Product Research & Development and design capabilities, fully launching high-environmental performance and high-value products according to consumer needs. Brand advantage is reflected in the company’s continuous consolidation of influence in retail, bulk, and complete packaging channels, multi-category formation of multi-dimensional growth, and continuous improvement of brand influence. The channel advantage is reflected in the perfect end point store layout, and the end point operation quality is continuously optimized and surpasses the average level of the same industry. The advantage of informatization is reflected in the company’s active investment and realization of cross-category and whole-process comprehensive connection. In recent years, from catching up to surpassing, it can continue to drive the efficiency improvement and cost optimization of front-end and back-end order-receiving design and production and all aspects of the whole category. Based on the above advantages, the company’s position as a leading enterprise in the industry has been further consolidated. The Matthew effect is significant. The growth rate of revenue and net profit can still exceed the industry average in the case of a high base. It is expected to achieve a higher market share of all channels and multiple categories in the process of market from dispersion to concentration, give full play to the scale effect, reduce costs and increase efficiency, and obtain good sustainable profitability.

　　4. In addition, the national level also actively guides and promotes the continuous development and growth of the company’s industry, and encourages excellent enterprises with a sense of social responsibility to continue to provide consumers with safe, reliable, healthy and environmentally friendly green home products:

　　(1) The government work report of the two sessions: Adhere to the same tone of housing without speculation, promote the construction of affordable housing, support the commercial housing market to better meet the reasonable housing needs of buyers, stabilize land prices, housing prices, and expectations, and promote a virtuous circle and healthy development of the real estate industry due to urban policies.

　　The stable development of the real estate market will help provide an important foundation for the demand of the home furnishing industry in the post-cycle sector, fully meet the reasonable housing demand, and promote the healthy development of the rigid demand market.

　　(2) On March 4, 2022, the China Banking and Insurance Regulatory Commission and the Central Bank issued the "Notice on Strengthening Financial Services for New Citizens", the main contents of which include: first, implementing differentiated housing credit policies according to city policies, reasonably determining the standards for mortgage loans for new citizens who meet the purchase conditions, and improving the convenience of borrowing and repayment; second, reasonably meeting the demand for housing credit for new citizens who meet the requirements of the housing purchase policy and have the ability to purchase houses and relatively stable incomes; third, providing consumer credit products for the reasonable needs of new citizens in the transition stage of entering the city and settling down.

　　By providing consumer credit products, it helps to ease consumers’ current consumption pressure and promote the release of demand for furniture, home appliances, and other products.

　　(3) In February 2021, the "Opinions of the Central Committee of the Communist Party of China and the State Council on Comprehensively Promoting Rural Revitalization and Accelerating the Modernization of Agriculture and Rural Areas" was issued: Article 18 of it states that it is necessary to comprehensively promote rural consumption, "Accelerate the improvement of the three-level rural logistics system in counties and villages, transform and upgrade the rural delivery logistics infrastructure, further promote e-commerce into rural areas and agricultural products out of villages and cities, and promote the effective connection between urban and rural production and consumption. Promote the replacement of durable consumer goods for rural residents."

　　By promoting the upgrading of durable consumer goods for rural residents, it will help furniture companies to fully channel down and expand their coverage of the third-level market in counties and villages.

　　(2) Company development strategy

　　"There is a family, love and Europai" is not just a well-known advertising slogan, but also the glory and goal we have been working for for 28 years. The company’s corporate vision is positioned to "make Europai an excellent home furnishing enterprise in the world". Looking at the present, in the face of the rapid changes in the industry, in a world of great change, only by taking advantage of the trend can we always stand at the forefront. To this end, the company will continue to work around the "three horses and one car" strategy:

　　1. Informatization strategy: The successful application of Oupai informatization, firstly, improves the user experience, users can feel the warmth of the future home through 3D model browsing, high definition rendering graph, 720 degree rendering and small video in the design stage; secondly, the direct application of design data has greatly improved the accuracy and efficiency of all aspects of quotation, order placement, order splitting, technical review, price review and settlement; thirdly, the improvement of the accuracy and efficiency of these links means that the order design, order conversion cycle, product delivery cycle is shortened, and there are fewer errors. In addition, Oupai informatization conforms to the development needs of the whole group’s customization in the future. In the future, Oupai Informatization will also empower retail distributors to expand new business models through innovative technologies such as the Internet, big data, cloud computing, AI artificial intelligence, and supply chain collaboration, and reconstruct the business ecosystem, industry industry chain, and value chain of big home furnishing. Innovate and change the traditional customization model and upgrade it into a modern, one-stop delivery, and a new generation of big home furnishing business models.

　　2. Building a big home model: Oupai is the first enterprise in the industry to propose a breakthrough big home development strategy. The core of this strategy is to grow from a single product provider to a home integration solution provider to solve the needs and pain points of consumers and channel providers. Driven by the dual advantages of first-mover advantage and enterprise organization and operation coordination ability, Oupai’s big home strategy will continue to move forward: on the one hand, quickly perceive and deepen the research and creation of a variety of big home models, and explore a big home development path that conforms to the situation of Oupai enterprises and adapts to the market situation; on the other hand, continue to explore the integrated sales business model of cabinets +, high-end whole-house customization of wardrobes + home accessories, bathroom +, customized wooden door systems and other categories.

　　3, fully optimize the end point: while maintaining the advantages and status of the original channel, the company will actively layout home improvement, complete, bag, electricity supplier, foreign trade channel business, channel management, system management and innovation management in parallel, and constantly optimize the management mode, multi-dimensional pilot new model, constantly enrich and upgrade the end point sales form.

　　4. Branding: In the context of consumption upgrading, consumers present outstanding characteristics such as youth, branding, health, and intelligence, which is a new direction for future brand promotion strategies. Brand reputation, as one of the core elements of enterprise development, will bring better customer stickiness to the products and services of brand enterprises, and also bring a broader imagination space for the development of brand enterprises. The company will continue to carry out branding and management through multiple channels and forms, so that "home, love, and European school" will be more deeply rooted in the hearts of the people.

　　(III) Business plan

　　In 2022, the company will respond calmly, prepare its troops and move forward through the ice. In 2022, the company strives to achieve a year-on-year increase in operating income of 15% -20% and a year-on-year increase in net profit of 10% -15%. (Special Note: The above is intended to clarify the company’s operating and internal management control goals, and does not represent the company’s 2022 profit forecast, nor does it represent a substantive performance commitment to investors. Whether the above goals can be achieved depends on many factors such as the macroeconomic environment, market conditions, industry development and the efforts of the company’s management team. There are certain uncertainties. Investors are advised to pay attention to investment risks.)

　　1. Continuous strengthening of operation and management capabilities

　　The marketing system always adheres to the consumer demand, end point operation as the core, and the company’s production and manufacturing, functional systems to work together to form a solid pincer-shaped offensive situation, expand the share, bill of lading value, and continuously upgrade the information capability as a series, so that the system can operate more streamlined and efficient, integrate the resources of all parties, and further build the company’s mid-platform operation and management advantages.

　　2. Open up a new shore on the road to big home

　　Under the market background of the continuous rapid switching of traffic trends, omni-channel layout, full-field expansion, penetrating old channels and deepening new channels, giving full play to the advantages of the company’s big home brand platform, building nests to attract phoenix, enriching the new connotation of one-stop consumption of big home, grabbing traffic from outside and digging stock from inside. Combining the leading advantages of the company’s two core categories of overall cabinets and whole house customization, through mechanism design, end point marketing strategies, and information tools, to achieve the growth and integration of various categories of Europai, further establish an absolute competitive advantage from the system, and launch a new impact on higher goals with the attitude of an industry leader.

　　3, the depth of information technology empowers the big home strategy

　　On the basis of the realization of scene marketing and delivery based on full three-dimensional models for multi-space, all-category customized furniture, home distribution, etc., Oupai’s information capabilities are gradually growing rapidly and iteratively towards the digital capabilities of the overall space design, the whole scene marketing and delivery of the big home. The cooperation and delivery of all aspects of the big home involves a large number of space, products, manufacturing and construction processes and their supply chain data, data processing and accumulation. Oupai’s digital capabilities are also a necessary ability for Oupai to cooperate with the whole decoration company to empower the whole decoration business.

　　Oupai is a strategic advocate of large-scale home furnishing, from single-product refinement and enlargement, to whole-house customization, whole-house customization, and then to whole-home furnishing, step by step to promote the innovative business model of "all-category integration + all-digital design, manufacturing and operation"; and through digitalization and intelligence to solve the contradiction between personalized customization and large-scale production, with high-value product power, software technology, innovation ability, advanced flexible production technology, cloud computing and big data practice, on the basis of the three existing core competitiveness of Oupai, it has created the fourth core competitiveness – the core competitiveness of all-digital design, manufacturing and operation, and has become the benchmark of the Made in China 2025 National Action Plan in the customized home furnishing industry.

　　(Iv) Possible risks

　　1. Risk of market changes

　　In 2020, the COVID-19 epidemic broke out at home and abroad. Under the correct guidance of the party and the government, our country’s epidemic has been effectively and comprehensively controlled, and valuable experience in epidemic prevention and control has also been obtained. However, throughout the international community, the haze of the epidemic has not completely dissipated, and the epidemic prevention and control situation is still severe. The operating environment and supply chain of domestic and foreign markets will also face uncertainty, which will bring uncertainty to the company’s production and operation goals in 2022.

　　2. The risk of increased market competition

　　The custom furniture industry in which the company is located belongs to the furniture sub-industry. As an industry leader, the company has strong advantages in design and development, brand, service, and channels. However, due to the shift period of the custom furniture industry from high-speed to medium-high-speed growth, coupled with the increase of cross-border entrants in the industry, the release of production capacity of listed companies’ fundraising projects, and the fragmentation of passenger flow, the change of internal and external factors will lead to industry competition from low-level competition in product prices to a composite competition level composed of brands, networks, services, talents, management, and scale. The intensification of market competition may lead to a decline in the average profit margin of the industry, which will bring uncertain impact on the company’s operating performance.

　　3. Risk of fluctuations in raw material prices

　　The raw materials of customized furniture products produced by the company include particle board, medium fiber board, functional hardware, quartz stone board and some purchased electrical appliances. In the past three years, the company’s direct material costs have a high proportion of production costs, and changes in raw material prices have a greater impact on the company’s production costs. Since the end of 2020, the prices of major raw materials have risen, and they are still running at a high level as of now. If the purchase prices of raw materials fluctuate violently in the future, it may have an uncertain impact on the company’s profitability.

　　4. Dealers manage risk

　　Dealer store sales is the main sales model in the custom furniture industry. Dealer store sales model is conducive to custom furniture enterprises to expand their marketing network with the advantage of dealers’ regional resources, and to effectively penetrate the market at all levels and improve the market share of products. Although the company and dealers have agreed on each other’s rights and obligations in the cooperation agreement signed, and have carried out unified management of dealers in store image design, personnel training, product pricing, etc., if individual dealers do not follow the agreement to sell, business publicity may bring uncertainty to the company’s brand perception.

　　5. Brand management risk

　　The company’s products are durable consumer goods, and the brand represents the quality and connotation of the product, which is an important factor affecting consumers’ purchase choices. After years of efforts by the company, the "Oupai" brand has a high reputation and reputation in the domestic market. If the company or distributors have problems in trademark management, store image, product quality management and after-sales services, it may bring uncertainty to the company’s brand perception.

　　6. Product quality risk

　　The company has always regarded product quality as the cornerstone of enterprise development. The company’s production technology is advanced, the process is perfect, the quality control standards are strict, and the quality control measures are complete. The products undergo strict quality inspection before leaving the factory, but this cannot completely rule out the possibility of quality problems after the products are used. Once a quality problem occurs, even in the case of non-company responsibility, consumers may have disputes with the company, which will cause uncertain impact on the market sales of the company’s products.

On June 16, the "Geely Everyone Meet, Hefei Station" event officially kicked off, attracting the attention of Guangfa consumers. It is worth mentioning that since its launch in February 2023, the series models have been favored by many consumers, and the sales data has also shown a rising trend.

This year, Geely’s layout in the field of new energy has entered a new stage again, and the Galaxy series has also begun to gain strength. After Geely Galaxy’s first medium and large pure electric sedan – a hot seller on the market, Geely Galaxy’s first compact pure electric SUV – Galaxy E5 recently completed its debut.

This "pure electric three-good SUV", which is known as "the most beautiful A-class pure electric" in the industry, is Geely Galaxy’s latest masterpiece to meet the diverse market needs in China and face the global market with global quality. The new car will redefine the standard of 15-200,000 pure electric SUV with the core value of "good-looking, easy-to-drive and smart", and launch an impact on the mainstream A-class pure electric SUV market. Let us follow the vision of Bump Jun today to explore the strength of Geely Galaxy E5.

Facing the era of smart electric, Geely has the ability to vertically integrate the new energy "three electric" industry chain, and can realize full-stack self-research and self-production from battery raw materials, battery packs, CTB battery technology, to electric drive and electronic control. Relying on the comprehensive electrification of GEA’s global intelligent new energy architecture, Geely Galaxy E5 adopts advanced technologies such as CTB battery body integration, Galaxy 11-in-1 intelligent electric drive, and the only customized SHIELD short-knife battery in the same level. Starting from the architectural dimension, it ensures that the battery life of Geely Galaxy E5 is reliable on the foundation.

The most efficient Galaxy 11-in-1 intelligent electric drive at the same level, through the optimization and integration of the core components of the electric drive, the comprehensive efficiency of the electric drive is the first to reach the industry’s ultimate 90.04% under CLTC conditions. The advanced electric drive system allows Geely Galaxy E5 to achieve a minimum power consumption of only 11.9kWh for 100 kilometers. According to the conversion of household charging piles, it is equivalent to a minimum cost of only 6 cents per kilometer. It is both efficient and low-consumption, meeting the user’s travel needs of "spending the least expenditure and running the farthest mileage".

Lower wind resistance can further reduce the energy consumption of the whole vehicle, making the battery life performance even more powerful. The Geely Galaxy E5 ingeniously integrates low wind resistance ingenuity with global aesthetic commonality, giving it a unique "E" aerodynamic performance. From the AGS active air intake grille on the front face to the low wind resistance design on both sides of the front protection, from the front and rear wheel spoilers to the cabin bottom guard, from the low wind resistance aerodynamic tail to the low wind resistance wheel hub, the whole car has 24 leading aerodynamic drag reduction designs, achieving a wind resistance coefficient of 0.269. The wind resistance coefficient of the whole vehicle has decreased by 0.141 cumulatively, an extreme reduction of nearly 35%, which is equivalent to the wind resistance coefficient falling from ordinary high-speed rail to bullets, and the cruising range has increased by 77.6km.

Comprehensive breakthroughs in intelligent architecture, high-performance three power, wind resistance, etc., have achieved excellent battery life. Geely Galaxy E5 uses 49.52kWh/60.22kWh Geely’s self-developed Aegis short knife battery to achieve a minimum power consumption of 11.9kWh 100 kilometers, and a cruising range of 440km/530km under CLTC conditions, which can be called "unique" among pure electric SUVs of the same level.

Not only that, the high value of Geely’s "popular" products not only brings a pleasing visual experience, but also makes the original design with "Chinese charm" shine globally. Galaxy E5 adopts the aesthetic elements of "Chinese charm", draws design inspiration from Chinese porcelain, and builds a visual effect with both popular and traditional culture with different curvature surfaces. The front face features a "ripple of light, rhythmic grille" design that incorporates cornice Tiger Vision headlights, Tiger Beard C-type lamps, and other designs that have formed family characteristics, resulting in high recognition. The side features a hidden door handle and low wind resistance wheels, which benefit from the aerodynamic optimization of the body at 24 points. The wind resistance coefficient is as low as 0.269 Cd, which can increase the cruising range by 77.6 kilometers. The rear sunrise through-type tail light and a large spoiler make the whole simple and full of rhythmic effects.

Entering the car, the Galaxy E5 adopts a dual-screen combination of narrow-spoke full-LCD instrument + large-size floating central control screen, with a double-spoke flat bottom. The configuration is also quite rich, the front main and auxiliary drivers are equipped with 3-speed heating and ventilation, as well as steering wheel heating, 256-color ambient light 16-speaker sound system, etc., whether it is the details and workmanship, it is quite solid.

In terms of intelligent experience, the Galaxy E5 also leaves no room for effort. Thanks to the GEEA 3.0 electronic and electrical architecture supported by the GEA architecture, the Galaxy E5 is equipped with the FlymeAuto system developed by the Meizu car machine. As a result of the acquisition of Meizu, the Meizu car machine has also been fully loaded into Geely models, and its performance should be comparable to Huawei’s Hongmeng system. Since then, Geely’s smart cockpit has formed its own technical fortress, which is very helpful for the brand to enhance its position in the field of intelligence.

It is the first domestic car-grade 7nm "Longying No. 1". Based on its super computing power, it can realize the four-screen linkage function of central control screen, instrument panel, head-up display screen and mobile phone, and has a good response speed. In addition, it will also be equipped with AI wizard and high-speed OTA.

In terms of body size, the Geely Galaxy E5 has the standard A-class 4615 × 1901 × 1670mm body size and 2750mm wheelbase, but through the clever use of space, it can give users a generous second row space, up to 33 storage spaces and a variety of seat combinations. The second row of the Geely Galaxy E5 seats a passenger who is 180cm tall, and still has nearly two punches of knee space and one punch of overhead space. The oversized cockpit space is better than the mid-sized SUV of traditional luxury brands.

Write at the end

Relying on global R & D standards, global ultra-high quality, and global high safety standards, Geely Galaxy E5, which integrates Chinese original design, GEA intelligent architecture, Galaxy Flyme Auto, Flyme Sound and other advanced intelligent technologies, will redefine the intelligent "pure electric three-good SUV" for future travel with the three core values of good-looking, easy-to-open and intelligent users. The successful holding of this Geely Galaxy E5 meeting more perfectly interprets the extraordinary style of the "pure electric three-good SUV". With the launch of Geely Galaxy E5, it will inject strong competitiveness into Geely Automobile in the new energy market of 15-200,000 yuan, and give users a unique "E" new value choice.