In 1999, in a simple production workshop in Wuhu, Anhui Province, a start-up team that had just been independent from FAW Yangzi Automobile Chassis Factory finally developed its first car. In order to fit the car’s "dynamic and static" attribute, the team named the car "Fengyun". At that time, Yin Tongyue, who was only 31 years old, led this team. He also became an important man in the development of China’s automobile industry, and has served as the chairman of Chery Group for 34 years.

　　At that time, "Fengyun" car sold well in China, and at the same time, it also promoted Chery’s overseas export volume and gained certain recognition in the market, which gave this start-up vehicle enterprise a business reserve. Therefore, Fengyun brand can be said to bear the initial dreams and hopes of Chery Automobile, especially to incite its "global dream". Whenever this enterprise is at a major strategic node, "Fengyun" will reappear.

　　Nowadays, when carrying Chery to the strategy of "new energy, high-end and globalization", Fengyun’s product sequence has been reborn again, and this time Fengyun has not only upgraded and reserved products and technologies, but most importantly, it has stepped on the market environment.

　　"The hybrid market without Chery Automobile is an incomplete hybrid market." Zhang Guozhong, executive deputy general manager of Chery Automobile, made a high-profile announcement, which attracted a lot of discussion from outside. Nowadays, only science and engineering men can express their self-confidence so directly, but this self-confidence is not in vain.

　　Jianzhi high-end mixed market

　　On the evening of November 9, Chery’s brand-new new energy sequence was officially released. With the optimized Chery Logo, Chery’s A-shaped logo was "reversed", and at the same time it became flat and had a new energy sense.

　　In terms of products, Fengyun A9 and Fengyun T11 have ushered in the world’s first show, and Chery Fengyun will launch 11 new models in the next two years. At the press conference, Fengyun A9 and Fengyun T11 were the world’s first shows. At the same time, Chery Fengyun plans to launch 11 new models within two years. Chery has also built a brand-new service system for Fengyun users, built 1,500 service outlets, and provided 10,000 kilometers of maintenance and lifetime warranty benefits for the whole vehicle. In addition, Fengyun’s first users will also enjoy free charging service.

　　From the modelling of two concept cars pioneered by Fengyun alone, we can see that Chery’s ambition-the atmospheric design of Fengyun A9 and Fengyun T11, has revealed Chery’s purpose of making Fengyun a global model. At the same time, the sales volume has returned to the second position of China automobile enterprises, and Chery now has more spare capacity and funds to promote the replacement of product lines and technological innovation and upgrading.

　　For example, in the hybrid field with the fastest market growth and fierce competition, Chery, which is slightly behind BYD, Geely and Great Wall, has also begun to make up lessons and launched the Kunpeng Super Hybrid C-DM system. Among them, the fifth-generation ACTECO 1.5TGDI hybrid engine used in Kunpeng Super Hybrid C-DM system has reached 44.5% in thermal efficiency. As a comparison, the thermal efficiency of BYD DM-i series plug-in 1.5L engine is 43.04%, and that of Geely Ray Shenqing Hi·X hybrid DHE15 engine is 43.32%. It can be seen that even in the hybrid field, the engine is still Chery’s specialty.

　　Of course, like the transmission fuel powertrain, the gearbox is equally important in the hybrid field. Kunpeng super hybrid C-DM system adopts three-speed super hybrid DHT, and its driving motor is skillfully combined with three-speed DHT. Among them, the first speed ratio is relatively large, which is mainly used for starting acceleration. The third speed ratio is very small, mainly to ensure low engine speed, low fuel consumption and noise reduction when driving at high speed. The second speed ratio mainly takes into account the shift of first and third gears to ensure the smoothness of shift, and at the same time takes into account the fuel consumption at medium and low speeds.

　　In terms of specific parameters, Fengyun’s fuel consumption is not only as low as 4.2L/100km, but also can achieve a long endurance performance of up to 1400km. In contrast, the fuel consumption of Geely Raytheon Electric Hybrid is 5.23L /100km, and the longest cruising range is 1370km. More importantly, Fengyun has super-high fuel economy, and its power performance is even more leading in the industry. Its vehicle speed limit can reach 240km/h, and it takes only 4.26 seconds to complete the acceleration of 000 km.

　　It can be seen that in the traditional fuel vehicle market, Chery has an inherent advantage in hybrid power because of its in-depth research on engines and transmissions, so that it can catch up quickly. As Zhang Guozhong said: "Without the hybrid market of Chery Automobile, it is not a complete hybrid market." This is not only the confidence in Chery’s hybrid technology, but also the counterattack horn launched by Chery to the market after strengthening the hybrid technology.

　　Why does Chery need a new "Fengyun"?

　　From the outside world, the return of the new sequence of "Fengyun" is only the territory of Chery Automobile to complete the new energy track of Chery brand. But in Chery’s view, this product sequence actually has a more ambitious and arduous task of accelerating the global market.

　　Yin Tongyue has mentioned on many occasions that if China wants to become a real automobile power in the world, it should not only be the first in production and sales, but also the first in market. In his view, China automobile brands must go abroad and go overseas. Not only based on the domestic market, but also competing with foreign brands overseas to grab their "rice bowls".

　　In fact, in overseas markets, in September this year, Chery Automobile exported more than 130,000 vehicles, accounting for more than 68% of the sales volume, ranking first in China brand sales for many years. However, this is not enough, not to mention that compared with Toyota and Volkswagen, even compared with Korean and legal brands such as Hyundai and Citroen, Chery is still far from the world-class brand expected by Yin Tongyue.

　　How can we quickly move towards a global brand? Running on two legs is definitely faster than limping on one leg. So, Chery, we saw that Chery began to launch a new energy track in the past two years. In the past two years, on the one hand, overseas sales increased and revenue recovered steadily, on the other hand, Chery has completed the layout of four brands: Chery, Xingtu, Jietu and iCar. The question now is how Chery Group can step on the rhythm of new energy transformation on the basis of the existing four brands.

　　Previously, Chery’s strategy was similar to brands such as Geely and Changan. They all launched new energy vehicles under Chery and Xingtu brands, adding plug-in hybrids to existing fuel vehicles, and at the same time, they had a proprietary sequence focusing on pure electricity. However, the effect is obvious, which cannot support the strategic goal of Chery’s new energy transformation.

　　It has been reported before that Chery will set up a brand-new sub-brand to transform new energy, and there are rumors that the new brand code is "O&J", which is the benchmark. At that time, many people thought that Chery’s move was another "smelly chess", which further increased the complexity under the already bloated brand.

　　But now it seems that Chery is not making a brand new, but making a brand new energy sequence under the Chery brand-that is, restarting the "Fengyun". Judging from the information released by Chery, Chery will still have four brands, but under the Chery brand, the new energy sequence of "Chery Fengyun" will be extended, and under the Star Road brand, the pure electric sequence of "Star Age" will be extended, and then Jetway and iCar will be established.

　　The arrival of Fengyun is not only a new round of reinforcement for Chery Automobile in the field of hybrid technology, but also according to the plan, Chery Fengyun will launch 11 brand-new models in the next two years, and will expand to 24 models including Super Hybrid 3.0 and 15 E0X high-end electric new products in two years, and launch a total of 39 new models.

　　It can be seen that Chery will not only return to the mainstream position in the new energy market with the IP of Fengyun, but also accelerate its layout in the global market with the help of electrification wave and Chery’s rapid growth advantage in the global market.

　　Does Chery’s globalization have the opportunity?

　　At the Shanghai Auto Show in April this year, some car critics were so excited that they burst into tears when they saw more than 200 foreign dealers crowded Chery’s booth! Because China’s automobile market has been developing for more than 30 years, from the time when the outside world always questioned "market for technology" to the time when foreign friends came to China to learn from China’s automobile enterprises, it was extremely bitter all the way. Now, China car companies are finally going to be proud.

　　According to the data, in the first half of this year, the number of cars in China reached 2.341 million, of which Chery Automobile exported a total of 398,500, ranking second in the list. Especially in the South American market and the Russian market, Chery’s brand power has even become comparable to Volkswagen and Toyota, and Starway has become synonymous with local luxury brands.

　　There is no doubt that Chery has made a name for itself in some overseas markets around the world, and then, as long as Chery relies on the global wave of electrification, insists on global development and builds world-class brands and products, it will be just around the corner.

　　We always say that in order to achieve something, we must occupy "the right time, the right place and the right people". Through so many years of exploration and efforts, Chery has always adhered to the initial intention of being a "science man" and regarded building a good car as the always concept of enterprise development. It is this persistence that makes today’s Chery achieve today’s sales at home and abroad. If Chery’s management team and Fengyun car series are the "human and geographical advantages" of Chery’s globalization, then under the general environment of encouraging China brands and China enterprises to go to sea, Chery’s globalization development has the advantage of "good weather".

Let’s take a look at its appearance first. In terms of appearance, the Jietu family style is adopted. The air intake grille on the front face is very sharp, and the headlights on both sides are quite sharp. After the headlights are lit, they look very energetic. In terms of waistline design, the new car adopts the waistline design, which prolongs the visual effect of the car to a certain extent. The rim shape is noble and the visual effect is acceptable. In the part of tail modeling, Jetway X70 adopts many popular design elements, and the transverse taillights also have a certain sense of advanced.

In terms of red and black interiors, the new car adopts the latest design style and layout of Jietu, which is very full of technology on the whole. The new car is also equipped with the latest model of Jetway. Above the central control, plastic and leather materials are used, which greatly enhances the grade sense of the whole vehicle. The 10.1-inch central control large screen is simple in screen design, but fully functional. The front row is also equipped with a manual air conditioning control system, which can freely debug the most comfortable space atmosphere. At the same time, the new car also provides leather seats, which can bring certain comfort.

The Jetway X70 has a length of 4749mm, a body width of 1900mm and a wheelbase of 2745mm, which is quite satisfactory. In the same class, the wheelbase of Jetway X70 ranks 36th. As an SUV, its body size does not occupy much advantage in its class, and its internal seating space is only basically enough. After all, it is limited by the length and shape of the body. The 7-seat skylight of Jetway X701.5T dual-clutch jump-enjoy version provides a wider view, which can create a better visual environment and good sensitivity for the rear passengers and increase the light entrance for the whole vehicle. Among the models of the same price and class, Jetway X70 ranks 75th in trunk volume. The shape is very regular, and the storage volume is absolutely no problem for daily use.

Jetway X701.5T Dual Clutch Jump Edition has 7 seats with 1.5 engines, with a maximum horsepower of 156 and a peak torque of 230, matching the wet dual clutch (DCT) gearbox. 1.5 The power performance of the engine on Jetway X70 is quite satisfactory, the low torque is weak and the hysteresis can be felt. Ranked 14th among 80,000-120,000 SUV models.

The active/passive safety configuration of Jetway X70 is complete, includingAutomatic parking、Zero tire pressure endurance tire、Automatic parking、Steep slope descent、hill start assist control、knee airbag、HUD head-up display、Anti-lock braking (ABS)、Braking force distribution (EBD/CBC, etc.)、Brake assist (EBA/BAS, etc.)、Traction control (ASR/TCS, etc.)、Active noise reduction、Engine start and stop、Side safety air curtain、Wireless charging of mobile phone、night vision system、LED daytime running lights、Forward reversing radar、Tire pressure monitoring、Steering wheel heating、Body stability control (ESP/DSC, etc.)、Rear reversing radar、Fatigue reminder、Remote parking、Child seat interface、Lane keeping (LKAS)Equal configuration.

Among them,Automatic parkingYou can avoid stepping on the brakes for a long time or needing to pull frequently;Steep slope descentCan safely pass through steep slope road conditions at low speed;knee airbagReduce the injury of the car interior to the occupant’s knees in the secondary collision.

In addition to the above description, we can also go to the Easy Car Forum to browse more real car feedback from actual buyers, or use our experience.

The new generation is the first production car with the latest design language. The iconic transverse grille has evolved again, and the proportion has increased, which is better integrated with the headlights. The overall shape has undergone a subversive change compared with the cash. It has become the mainstream configuration trend of new cars, but at the same time, models equipped with lenses are rare at this level. Even some luxury products are not equipped with lenses, so the new generation’s high demand for details is worthy of recognition.

　　The new generation adopts the latest design language in appearance. Compared with the current models, the iconic transverse grille on the front face is larger in area, which is matched with the headlights on both sides to enhance the visual width of the front face. The whole system comes standard with lens type and is equipped with steering assist function, which has a very good effect after lighting. The length, width and height of the new generation are 4670/1806/1474mm and 2688mm respectively. Under normal circumstances, the luggage compartment has a volume of 510L, which is standard and functional. The seat is still electrically adjustable in the main driver’s seat and manually adjustable in the co-pilot seat.

　　In terms of interior, the new generation continues the design style of the current model. The three-spoke multi-function steering wheel is still a familiar shape, with moderate size and good feel. The multi-function buttons integrated on both sides also provide good convenience. The classic layout design is still adopted, which brings better usability. In addition, the new generation is equipped with 6.5-inch and 8-inch central control panels according to different models, and it also supports many functions internally, making it more versatile to operate.

　　In terms of power, the new generation is equipped with 1.4T and 1.5L naturally aspirated models, including 1.4T110kW(150Ps)/4800-5200rpm, 250Nm/1750-3000rpm; 1.5L85kW(116Ps)/6000rpm，150Nm/4000rpm。 In terms of transmission, the 7-speed dual clutch, 5-speed manual and 6-speed manual are matched with the start.

Disclaimer: The above car purchase preferential information is provided by, and the price fluctuates greatly due to market factors, which is only for car purchase reference; Its authenticity, accuracy and legality are the responsibility of Xiaobian, who does not provide any guarantee and does not assume any legal responsibility.

The article is provided by the author.

On December 4, according to Hong Kong media reports, the Hong Kong boy band MIRROR had a serious accident during a concert last year. The giant screen hanging in the air suddenly fell and hit dancer Li Qiyan (A Mo). He still needs to be hospitalized for treatment. His father, Li Shenglin, said that he is still receiving treatment and revealed his son’s daily treatment schedule, training 10 am to 6 pm every day, and getting up and turning around in the middle of the night with the assistance of his family. However, A Mo is very proactive to go to treatment. At present, he has walked 146 times with the help of instruments, 20-25 minutes each time, and walked a total of 470-480 steps. The doctor once said that in A Mo’s case, others will stay in the ICU for at least half a year, but it is a miracle that he can leave the ICU for two months.

It is reported that on July 28, 2022, when the Hong Kong idol boy group Mirror held a concert at the Hong Kong Coliseum, a serious accident occurred. A giant screen above the stage suddenly fell, hitting two dancers. The injured were rushed to the hospital, and the concert was immediately stopped.

　　At the closing ceremony of the 2008 Olympic Games, 18 districts and counties in Beijing will set off fireworks together to record this historic moment, so that gorgeous Beijing and happy Beijing will go down in history forever. The fireworks feast at the closing ceremony and the Bird’s Nest will surely become the focus of world attention. To this end, Xinhuanet specially invited Zhao Weiping, the general commander of the Bird’s Nest fireworks display, to introduce the related situation of the Bird’s Nest fireworks display at the closing ceremony.

Zhao Weiping, the general commander of the 2008 Olympic Games Bird’s Nest fireworks display, was interviewed by this reporter.

　　Zhao Weiping: Everything is ready for the fireworks display at the closing ceremony.

　　Moderator: The expected closing ceremony is about to be staged. Apart from the rich programs prepared by ourselves and the 8-minute performance in London, the fireworks will bring the atmosphere of the audience to a climax. What is the preparation for the fireworks in the closing ceremony?　

　　Zhao Weiping: We have basically finished the preparations for the closing ceremony. There are 420 launching sites and 8,138 fireworks in the closing ceremony. It is necessary to rearrange the layout and rearrange the launcher. At present, the preparations include the installation of fireworks, the structural installation and wiring of the shelves. The rest of the time we will do some tests on them and check them a few more times to be foolproof.　

　　Moderator: Will some equipment at the opening ceremony continue to be used at the closing ceremony?

　　Zhao Weiping: The equipment that is exactly the same as the opening ceremony is gone. They have all been readjusted. Because each launcher actually involves different specifications and quantities, basically nothing used in the opening ceremony can be used in the closing ceremony. We hung many launchers again and rearranged them, because after all, the products are still very different. This is the difference between the opening ceremony and the closing ceremony.

　　Moderator: The Bird’s Nest has been in the competition all the time, and the performance place of the closing ceremony is also in the Bird’s Nest, which is bound to bring some difficulties to the preparation of fireworks. What difficulties have you encountered? How do we overcome it?

　　Zhao Weiping: The biggest problem encountered in the construction of the closing ceremony is that the construction is not allowed during the day, and the other is that it rained heavily two nights ago, which brought us some difficulties and increased the intensity of our work. Our team basically worked all night every day. In addition, there is no light on the bird’s nest at night, and we mainly rely on the peripheral auxiliary lights to illuminate the work, which also increases the difficulty of our work. But even under such circumstances, everyone made unremitting efforts, especially the encouragement brought by the success of the Olympic opening ceremony. It should be said that the whole team is United as one and has high morale, hoping to complete the closing ceremony successfully.

　　Moderator: Our staff is still in a very good state, without any slack?

　　Zhao Weiping: No. We also held a mobilization meeting yesterday, which was the last mobilization before the closing ceremony. I hope everyone can make a great effort to make the closing ceremony beautiful. After these mobilizations, everyone is still very active. Everyone performed very well, and I was very touched. I think it must be the fighting spirit of the Olympic Games that encouraged everyone. I am very satisfied with the performance of the team, as a person, as the leader of the enterprise or as the commander-in-chief of the fireworks display team.

　　Moderator: This time, the preparation is quite adequate, but the closing ceremony has not been rehearsed. Will you feel a little insecure?

　　Zhao Weiping: No, because as the closing ceremony itself, there is no substantive rehearsal, but every discharge in front of the Bird’s Nest can be said to be a rehearsal for the closing ceremony. Because each discharge and installation will bring more experience, more protection and more confidence to the next one.

The staff installed the Bird’s Nest fireworks in the daytime and at night (picture provided by Panda Fireworks Company).

　　The fireworks of "Xiangyun", the first appearance of the closing ceremony, will ignite the night of passion.

　　Moderator: Then can you tell us specifically what kind of fireworks will be displayed at the closing ceremony?

　　Zhao Weiping: There are still some differences between the closing ceremony and the opening ceremony. Everyone has seen the opening ceremony. There are five rings, footprints, some beautiful wings on the top of the bird’s nest, doves of peace, countdown in the stadium, waterfalls, lightning, thunder, including the peony flowers we talked about, and dynamic five-color rings, all of which have their own characteristics. We also used the chip bomb (which is the most advanced in the world at present) and used air launch for the first time. These are the results of our technological innovation.

　　Our main product innovation at the closing ceremony is an auspicious cloud. As we all know, Xiangyun has spread all over the world, and we also hope that the creativity of fireworks can be expressed by Xiangyun, which may be different from our Xiangyun torch. There will be spiral and dynamic fireworks at dozens of points on the top of the bird’s nest, which has never been seen before. Xiangyun has two colors, including a gold one. This is a relatively good product, and it took us about half a year to develop it after receiving the task book from the Olympic Organizing Committee.

　　Another highlight of the closing ceremony is that we have a colorful circle on the top of the Bird’s Nest. After typing, you will see a fireworks circle, which is quite beautiful, and it has been launched twice. We didn’t have such a variety in the last opening ceremony. It exploded in the sky after you hit it from below and saw the effect. The products we used at the opening ceremony last time did not explode in the sky, but this time there will be an explosion in the air, which will present a very beautiful scene and bright colors. At last, a round pattern made by a big fireworks will be formed on the periphery of the bowl at the top of the Bird’s Nest. I think this round pattern also indicates the complete success of the whole Olympic Games, which can also be said to be "round and full". Everyone is happy and safe. The Olympic Games shows her moral through these fireworks, so I think these will also bring you some aesthetic feeling and some new visual impact. The other difference between the closing ceremony and the opening ceremony is that we have more dynamic things running fast on the top of the bird’s nest in the closing ceremony.

　　Moderator: So what is the scale of the fireworks display at the closing ceremony?

　　Zhao Weiping: From the top of the Bird’s Nest, the whole scale of fireworks in the closing ceremony is smaller than that in the opening ceremony. This time, we don’t have bowl products, which means that there is nothing inside the Bird’s Nest, and the part outside the Bird’s Nest is basically the same as that in the opening ceremony.

　　Closing Ceremony The Beijing Municipal Government and the Olympic Organizing Committee hope that the whole city will have an opportunity to celebrate together and hold fireworks celebrations in 18 districts and counties in Beijing, because after all, it was almost seven years since we won the right to host the Olympic Games in 2001, and many people all over the country worked hard for it. On the whole, this scale is unprecedented in Beijing’s history, and it can be said that there is no such scale in the world. At that time, after the closing ceremony, fireworks will be lit in 18 districts and counties at the same time. I think this can be applied for Guinness Book of Records, which has never been seen in any city or at any time in the past.

　　The fireworks display at the closing ceremony is not affected by rain.

　　Moderator: If it rains on the closing day, will it affect the fireworks display?

　　Zhao Weiping: This is no problem. Because we have already installed the fireworks, it can be said that the problem of rain has been solved at this stage, and it will not be affected whether it rains or other circumstances. If it rains heavily, of course we will listen to the organizing Committee, but as far as I know, it won’t rain before the 24th.

On March 29th, Beijing time, let’s take a look at the latest situation of the international competition day.

Spain 0-2 away to Scotland

In the second round of Group A of the European Cup qualifiers, McTominay made two consecutive double rings. Spain lost to Scotland 0-2 away, and gave up the top position in the group after swallowing the first defeat. This 0-2 game ended Spain’s five unbeaten games against Scotland. The last time they lost to Scotland was in the preliminaries in November 1984. It has been 39 years since then, when they lost 1-2 away.

Argentina home 7-0 Cura? ao

In the international friendly match, 35-year-old Messi wore a hat at half time, Gonzalez, Enzo, Di Maria and Montiel successively made contributions, and Argentina beat Cura? ao, a weak team in Central and North America, 7-0 at home. Messi reached the milestone of the national team’s 100 goals, and the total number of goals rose to 102. Cristiano Ronaldo, the world football national team goal record holder, still has a gap of 20 goals.

Germany home 2-3 Billytime

In the international friendly match, carrasco, Lu Kaku and De Braune each scored a goal, and Belgium beat Germany 3-2. Four days ago, Belgium just beat Sweden 3-0 in the European preliminaries. On this international competition day, Belgium won two consecutive victories and scored three goals in both games.

Japan 1-2 Colombia, South Korea 1-2 Uruguay

Japan and South Korea, the two top teams in Asia, both lost 1-2. Japan was reversed by Colombia, and South Korea was beaten by Uruguay with two goals. On this international competition day, Japan, South Korea and China were all 1 draw and 1 loss. China’s opponents in the two men’s soccer matches were both New Zealand, while Japan and South Korea were Colombian and Uruguayan.

From 2012 to 2021, the share of local skin care increased first and then decreased, and the share of local makeup increased by nearly 14pcts； in ten years; At present, the channel and media dividends have faded, local high-quality leading brands have increased investment in research and development, product strength has increased, and high-end has quietly advanced; At the same time, local brands have a deeper understanding of domestic channels and marketing, and local brands have diverted to international high-end brands, and their overall share has entered the bottom area, and their future promotion is expected.

▍ China skin care market: the share of local brands rises first and then falls; At present, the local leading brands are diverging from international high-end brands, and their share is at the bottom.

2012-2021: The share of local skin care increased from 24.8% in 2012 to 34.3% in 2018, and then fell back to 27.7% in 2021; The share of French brands has increased from stable (14% ~ 15% in 2012-2018) to 22.1% in 2021, which is closely related to the strong product strength of French brands and their advantages in sensitive repair and anti-aging. Korean brand share rose first and then stabilized, from 1.2% to 4.5% in 2012-2016, then the mass line weakened but the high-end line increased, and the overall share was stable. Since 2022, many factors such as marketing, channels and local epidemic have caused many changes in the trend. Among them, the local leading companies are becoming increasingly high-end, and the diversion of overseas high-end brands is expected to drive the local share to the bottom.

▍ China makeup market: the share of local brands has been promoted to the leading position, and the high-end has been quietly promoted.

2012-2021: The share of local cosmetics increased from 15.0% to 28.8%, and increased by nearly 14pcts； in 10 years; The share of American makeup decreased from 33.8% to 16.2%, a decrease of 17.6pcts；; After 2016, the share of French make-up increased to 30%+,which is closely related to its advantages in brand heritage, fashion leading and product strength. The share of Korean makeup increased from 7.0% in 2012 to 11.7% in 2016, and then decreased to 8.3% in 2021. Local make-up brands have changed significantly since 2021H2: 1) From fashionable color products (lipstick, eye shadow, etc.) to technical foundation (liquid foundation, etc.), from flow play to brand building; 2) Increase R&D investment, rely on cultural confidence, and strive to catch up with international brands in some sub-categories and product series.

▍ The channel and media dividends faded, and local brands increased investment in R&D, returned to product strength and accumulated brand strength.

Channel change: from 2001 to 2010, CS stores, supermarkets and other brands gave birth to beauty channels; In 2011-2015, the offline was good, the online rose, and the brand enjoyed a double-line bonus; In 2016-2021H, international brands increased rapidly, and new brands emerged; Since 2021H, channel and media dividends have subsided.

Marketing change: from celebrity endorsement to multidimensional grass planting, from big-screen advertising to content marketing and value recognition.

Advanced R&D: In recent years, the brand of skin care of pharmaceutical origin has performed outstandingly, from "medicine" to "makeup", with better quality control and efficacy; Local brands such as Polaiya/Betani/Huaxi /PMPM gather head R&D talents at home and abroad; Synthetic biotechnology promotes the innovation iteration of beauty raw materials, local raw material enterprises flourish, and the curtain of domestic substitution of raw materials opens.

▍ Risk factors:

Discount promotion of international brands suppresses local brands; The relationship between beauty brands and e-commerce platforms is unbalanced; It takes time to accumulate significant results in R&D investment; Scattered epidemic situation repeatedly affects the demand and sales of beauty; Policy supervision strictly affects the growth rate of the industry; The speed and range of domestic substitution of raw materials may not meet expectations.

▍ Investment suggestion:

As a typical optional consumer product, beauty cosmetics have both efficacy and spiritual attributes, with efficacy depending on technology and spirit relying on culture. Local brands increase investment in R&D, and product strength is quietly improved; At the same time, we have a deeper understanding of local channels and marketing. It is expected that the share of high-end and ultra-high-end will increase in the future, which will drive the overall share to rebound. At the present stage of fading dividends and full competition, strong marketing, channels, operational capabilities and sustained high R&D investment are indispensable.

This article comes from financial circles.

Manchester City announced their home jerseys for the upcoming 2023-24 season.
Manchester City said on the club’s website on the 19th (Korea time), "Manchester City players are wearing home uniforms produced by Puma for the 2023-24 season. Manuel Akanji, Kevin De Bruyne, Jack Goreli, Erin Holland and Edersen are wearing them, "he said formally.
This set of jerseys is designed to commemorate the transfer to Etihad Stadium. Since 1923, Manchester City has used Main Road as its home for 80 years. But with the passage of time, problems such as aging appeared. In 2003, they moved to Etihad Stadium as their new home.
Manchester City said: "This move marks the beginning of a new era for the club, which is defined by new records, new legends and great moments." I was inspired by the giant turret. Even the details are hidden. On the back of the neckline of the jersey is written the postal code of Etihad Stadium, M11 3FF, with pictures of Etihad Stadium painted on it. It also has a white V-neck, inspired by the 2003-04 home jersey.
An atmosphere completely different from this season’s uniforms. The home jersey of Manchester City in 2022-23 season is set in sky blue, and the Manchester City team emblem is embedded in the center of the chest. The logo of the uniform manufacturer Puma is located below it, and you can see the letter of the sponsor Etihad below it.
However, in this home jersey, the club badge is located on the left chest and the Puma logo is located on the right chest. In addition, you can also see the horizontal stripes in the middle on the sky blue background.
Meanwhile, Manchester City are challenging the club’s first treble this season. If you win the upcoming Chelsea game alone in the Premier League (EPL), you will be able to confirm your third consecutive league title. In addition, in UEFA Champions League (UCL), we beat Real Madrid to enter the final and compete with Inter Milan for the New Year. In the FA Cup in England, they faced their arch-rival Manchester United.