标签： 阿拉爱上海同城对对碰

Every year on April 22 is World Earth Day (The World Earth Day), which is a special day for the world’s environmental protection. It aims to raise public awareness of existing environmental problems and mobilize people to participate in the environmental protection movement. Through green and low-carbon life, we can improve the overall environment of the earth. On TV, we often see experts working hard to carry out green and low-carbon activities, but in fact, low-carbon life is not far away from us. For example, choose a green, healthy and environmentally friendly Volvo luxury SUV XC90 to protect the earth from daily travel.

Electric cars are more environmentally friendly

PM2.5 has small particle size, large area, strong activity, and is prone to toxic and harmful substances. Everyone can hear this data in the news every day. As everyone cares more and more about the air and their health, they are also very concerned about the quality of the air they need to breathe every moment. If the air is bad, you can turn on the air purifier at home or wear a mask to reduce going out, while in the car, you only need to turn on the ACC system. The full name of the ACC system is Advanced Air Cleaner, which means dual-effect enhanced air purification system technology. It was jointly developed by Volvo Cars and Blueair. The Chinese market is the first to be used in the world. Through the filter element + electrostatic filtration technology, the electrostatic adsorption is used to improve the filtration capacity of particles with a diameter of less than 1 micron (PM1), which is equivalent to adding a layer of protection to the traditional air purifier at home, and the filtration effect is better. In practical applications, the AAC system also performs well: the data shows that it can prevent up to 95% of harmful PM2.5 particles, and has the best performance in removing harmful gas particles.

It is healthier to stay away from PM2.5 particles

PM2.5 has small particle size, large area, strong activity, and is prone to toxic and harmful substances. Everyone can hear this data in the news every day. As everyone cares more and more about the air and their health, they are also very concerned about the quality of the air they need to breathe every moment. If the air is bad, you can turn on the air purifier at home or wear a mask to reduce going out, while in the car, you only need to turn on the ACC system. The full name of the ACC system is Advanced Air Cleaner, which means dual-effect enhanced air purification system technology. It was jointly developed by Volvo Cars and Blueair. The Chinese market is the first to be used in the world. Through the filter element + electrostatic filtration technology, the electrostatic adsorption is used to improve the filtration capacity of particles with a diameter of less than 1 micron (PM1), which is equivalent to adding a layer of protection to the traditional air purifier at home, and the filtration effect is better. In practical applications, the AAC system also performs well: the data shows that it can prevent up to 95% of harmful PM2.5 particles, and has the best performance in removing harmful gas particles.

Good material, don’t let the nose be wronged

Nowadays, more and more people are prone to allergies, and many people are prone to sneezing and coughing when they smell the smell of some inferior materials evaporated in the car, so the quality of a car is not only about the engine, but also about the details of the materials. Volvo is also strict in the selection of materials inside the vehicle, and has a complete list of recommended and prohibited materials. For example, the door handles, keys, gearbox shifters, buttons, seat belt latches and other components that are often touched by occupants in the car are strictly protected from nickel leakage, which meets the European Union’s nickel leakage standards for long-term skin contact parts (such as jewelry). Even the handbrake buttons, steering wheel signs and other often overlooked parts in the car need to be tested for contact allergy. At the same time, certain plasticizers, alkyltin compounds, and bromine are also prohibited from appearing in Volvo cars, which are very safe for the human body.

The car smells bad when parked for a period of time? This kind of thing will not happen to Volvo. All the materials in the car need to be carefully selected and strictly tested to keep it friendly to people with allergies and asthma. Volvo will also organize a "nose team" to ensure that there will be no odors in the car through actual odor tests in different environments. Conscientious materials are more environmentally friendly!

The earth needs our common protection. In daily life, low-carbon environmental protection should become our life attitude. When traveling, choose green, healthy and environmentally friendly options!

[Autohome Changzhou Promotion Channel] brings you the latest car market trends. This luxury SUV is conducting an unprecedented promotion in Changzhou. It is understood that this promotion is as high as 130,000 yuan, which has reduced the minimum starting price of the original higher-priced XT5 model to 242,700. For consumers who are interested in buying a Cadillac XT5, this is a great opportunity not to be missed. Want to know more details and get higher discounts? Be sure to click the "Check the car price" button in the quotation form to seize this rare car buying opportunity.

The exterior design of the Cadillac XT5 shows the perfect combination of elegance and power. The front face features the iconic shield-shaped air intake grille of the Cadillac family, and the fine craftsmanship of chrome elements enhances the luxury of the vehicle. The body lines are smooth, hard and dynamic, showing the sporty characteristics of the XT5. Overall, the XT5 inherits the luxury gene of Cadillac, while incorporating modern design elements to make it visually impactful.

The Cadillac XT5 exudes luxury with its elegant side lines. The body size is 4813mm*1903mm*1682mm and the wheelbase is up to 2857mm, ensuring a spacious interior space. The front and rear wheels are 1645mm, and the carefully designed wheel track layout provides excellent stability. The front wheels are equipped with 235/65 R18-size tires, and the rear wheels are also of the same specification, while the rim style blends power and delicate details, reflecting the Cadillac brand’s meticulous attention to detail. Overall, the XT5’s side design is not only practical, but also dynamic and aesthetic.

The interior design of the Cadillac XT5 shows the perfect blend of luxury and technology. Its spacious cockpit wraps the steering wheel in fine leather, providing a good grip and support, and supports manual up and down + front and rear adjustment to ensure driver comfort and easy control. The central control area is equipped with an 8-inch touch screen, integrated multimedia system, navigation and phone functions, and supports automatic speech recognition, which is convenient for users to operate easily during driving.

In terms of seats, the XT5 is made of imitation leather and genuine leather to provide passengers with a luxurious touch. The front seat not only has front and rear adjustment, backrest adjustment, but also has 4-way high and low adjustment and waist support 2-way adjustment to ensure the comfort of long driving. The driver’s seat is also equipped with an additional electric memory function. The passenger seat also supports multiple adjustments and has a heating function. The second row of seats can also be moved back and forth, and the backrest angle is adjustable, providing flexible space options. In addition, the rear seats support proportional reclining for easy loading of large items. Overall, the interior design of the XT5 combines practicality and luxury, bringing a pleasant ride experience to the driver and passengers.

The Cadillac XT5 is equipped with a 2.0T turbocharged engine, which can burst out 237 horsepower and reach a maximum torque of 350 N · m, ensuring that the vehicle has excellent performance during driving. With the 9-speed automatic transmission, it further enhances the smoothness of the shift and the driving pleasure.

Summarizing the evaluation of Autohome owners, the Cadillac XT5 has won the recognition of owners with its excellent mechanical quality and strong four-wheel drive escape ability. In particular, the electromagnetic suspension system provides the driver with an excellent comfortable experience. At the same time, the domineering appearance and stable driving experience make this car meet the needs of the home while also showing its unique charm. The satisfied words of the owner confirm the multiple advantages of the XT5, making it a reliable car choice.

　　　 The film, directed by Li Yu and co-starred by Fan Bingbing and Chen Bolin, will be released on March 4. Director Li Yu won the Best Artistic Contribution Award at the 23rd Tokyo International Film Festival, and Fan Bingbing won the title of Tokyo for her film. In the film, she plays the nightclub singer "Nanfeng", and many scenes in the film take place in nightclubs. Some film critics have described the love and hate of nightclubs in "Guanyin Mountain" as undoubtedly a landmark of youth.

Landmark Feature 1: Wild Fashion

　　　 Fan Bingbing plays Nanfeng in the film, a girl who has failed the college entrance examination and is adrift in the metropolis chasing her love dream and her career as a singer. Nanfeng, who is singing in a nightclub, dresses up blonde as soon as she appears, and a cowgirl dresses up for a while, and often takes the stage as a young lady. But in real life, Nanfeng is a confused girl who dares to hate and love, is unrestrained and sensitive, and hides her sadness in her heart. Director Li Yu particularly emphasized that Bingbing’s own personal experience when she made her debut in the North Drift was quite similar to Nanfeng in the play. Fan Bingbing also found a pair of old military boots that he bought for 60 yuan when he first arrived in Beijing in 1996, and went to the clothing wholesale market frequented by Beipiao to buy some clothes to mix and match. A pair of broken black fishnet socks was deliberately torn by her. To be tough, to be rebellious, you need Fan Bingbing’s wild fashion.

Landmark Feature 2: Youth Rock

　　　 Singing must be wild, drinking must be wild, and the whole atmosphere of the nightclub is rock and roll. Can you imagine the style of Fan Bingbing holding his head up when he sings? Can you imagine Chen Bolin’s desperate and crazy expression when he fights with people? No way, youth is passionate and rock.

Landmark Feature 3: Blue Confusion

　　　 Nightclubs are always confusing, youth under the night is confused, and drifting love is confused. The confused Ding Bo (played by Chen Bolin) will escape the love of Nanfeng (Fan Bingbing) and have an affair with the girl of the "flash encounter" in the nightclub; the confused Nanfeng will pull her beloved Ding Bo to face the roaring train and try to lie on the track and die for love to get out of love. The sky where the fog dissipates is always blue.

Since March, the good news of "Shuimao" has continued:

Founder Zhong Bianyuan has been the richest man in China for a row. On the 21st, he launched a new tea series "steam tea". On the evening of the 28th, the company’s 2021 annual report was released, and its performance has picked up significantly…

As a well-deserved soft drink giant in China, Nongfu Spring has passed last year’s "dark time" (related reading: Nongfu Spring overturned?), and everything seems to be going well.

Is that really the case? ifeng.com’s "eye of the storm" reviewed its annual report and found that, as a giant in the domestic soft drink industry, although Nongfu Spring handed over a good 2021 annual report answer sheet, it was backed by the weakness of the 2020 annual report data.

Further sorting out. In addition to experiencing a low performance, Nongfu Spring has not only suffered a "roller coaster" of stock prices and a sharp decline in market value in the past year and a half since its listing, but also fell into environmental pollution and food safety crises twice – a series of negative events that have wiped out hundreds of billions of Zhong’s net worth.

At the same time, the issue of "inflated valuation", which was widely criticized at the beginning of Nongfu Spring’s listing, has not been solved, which has become a major obstacle to the stability of the stock price.

01

Annual report dismantling: earning over 7 billion, tea beverage performance contribution is better than competing products

According to the 2021 annual report of Nongfu Spring, the total income of Nongfu Spring last year was 29.696 billion yuan, an increase of 29.8% year-on-year; the net profit attributable to the mother was 7.16 billion yuan, an increase of 35.7% year-on-year; the cash flow of operating activities increased by 35.2% year-on-year in 2020 to 11.40 billion yuan. The company’s gross profit margin was 59.5%, which was basically the same as 59% in 2020.

In terms of products, packaged drinking water is still the pillar product of Nongfu Spring. In 2021, the annual revenue was 17.058 billion yuan, an increase of 22.1% over 2020, accounting for more than half of the total revenue and 57.4%. However, this proportion decreased to a certain extent from 61% in 2020.

After packaged drinking water, the annual revenue of tea beverage products in 2021 was 4.576 billion yuan, an increase of 48.3% over 2020, and the proportion of the company’s overall revenue increased from 13.5% in 2020 to 15.4%.

The third and fourth largest functional beverage products and juice beverage products accounted for the same percentage of total revenue as last year. Among them, the annual revenue of functional beverage products in 2021 was 3.695 billion yuan, an increase of 32.3% over 2020; the annual revenue of juice beverage products was 2.614 billion yuan, an increase of 32.2%.

In addition, it is worth noting that the contribution of other products represented by soda drinks, flavored beverages, coffee drinks, plant yogurt, etc. in the total revenue has increased to a certain extent, an increase of 1.4 percentage points over 2020, from 4.6% to 6.0% in 2021, and the annual revenue in 2021 is 1.75 billion yuan, an increase of 66.0% over 2020.

Revenue Composition of Nongfu Spring by Product Category (Source: 2021 Annual Report)

Analysis of the reasons for the recovery of Nongfu Spring’s performance in 2021 shows that it is largely due to the overall recovery of China’s food and beverage industry last year.

In its annual report, Nongfu Spring pointed out that the national beverage production exceeded 183 million tons in 2021, an increase of 12% year-on-year. In 2021, the operating income of China’s beverage manufacturing industry increased by 13.5% year-on-year. Among them, the manufacturing industry of bottled (canned) drinking water increased by 12% year-on-year, the manufacturing industry of tea beverages and other soft drinks increased by 12% year-on-year, the manufacturing industry of fruit and vegetable juice drinks increased by nearly 14% year-on-year, the manufacturing industry of carbonated beverages increased by 19% year-on-year, and the manufacturing industry of milk beverages and vegetable protein beverages increased by nearly 11

It is not difficult to find that the growth of Nongfu Spring’s total revenue and sub-product revenue data outperformed the industry average. Intuitively, it does show a certain recovery ability of the company, but if the time line is extended, it can be found that the reason why the company’s operation improved significantly in 2021 has a lot to do with the decline in performance in 2020.

Data show that the total income of Nongfu Spring in 2020 was 22.877 billion yuan, down 4.8% year-on-year, which is also the first time in the past five years that the company’s revenue has declined year-on-year; the net profit attributable to the mother was 5.277 billion yuan, an increase of 6.65% year-on-year, which is also the company’s new low in the past five years.

Regarding the reasons for the decline in performance in 2020, Nongfu Spring has stated that the COVID-19 pandemic in the first half of 2020 and the floods caused by heavy rains in many provinces in China in July 2020 affected the company’s product transportation and product sales to some retail outlets, and also temporarily closed some retail outlets. At the same time, the epidemic has reduced consumers’ willingness to travel, and the implementation of measures such as wearing masks has also suppressed the sales of ready-to-drink products, which has a certain negative impact on the Group’s operating performance in 2020.

From this perspective, it is not difficult to understand that the company’s performance in 2021 has rebounded significantly after bottoming out.

Nongfu Spring’s recent financial summary (data source: Wind)

In addition to the industry’s recovery drive in 2021, but from the perspective of product composition, Nongfu Spring’s performance boost in 2021 was mainly due to the growth in revenue of key products.

The "eye of the storm" of ifeng.com found that from the main products of Nongfu Spring – packaged drinking water, tea beverages, functional drinks, fruit juices, and other products, the largest increase in revenue during the reporting period was tea beverages, reaching 48.3%, which was significantly higher than that of Master Kong Holdings and Unified Enterprise China, which were also beverage companies. The growth rates of tea beverages in the latter two were 13.78% and 15.2% respectively.

Nongfu Spring’s tea drinks are mainly marked by two beverages, "Tea Pi" and "Oriental Leaf". According to the company’s 2021 annual report, last year marked the 10th anniversary of the launch of "Oriental Leaf". Under the trend of "sugar-free" diet, "Oriental Leaf", which was controversial in the past, has now become the leader of the sugar-free tea drink track. To further open up the market, the company launched two new flavors, "Green Orange Pu’er" and "Black Rice Tea", in the first half of 2021. In addition, in September 2021, Nongfu Spring also launched a "new" milk tea series, and three flavors were launched in one go – black tea milk tea, oolong milk tea and jasmine green; in December of that year, it further launched a new winter-limited flavor of cocoa milk tea.

The successive launch of new products has finally increased the current revenue of Nongfu Spring tea beverage products by nearly 50% compared with 2020, and recorded 4.58 billion yuan in the whole year, accounting for more than 15% of the total revenue.

In this regard, the CICC research report said that the outstanding performance of Nongfu Spring tea beverages was mainly due to the good performance of Oriental leaves, tea π and other classic product flavors and new flavors under marketing activation. The company seized the opportunity to take advantage of seasonal new osmanthus and oolong flavors to help the growth rate of Oriental leaves further increase, and the tea Spring Festival stocking also performed well.

02

After a year and a half of listing, the stock price roller coaster has evaporated

Nongfu Spring was founded in 1996, but only listed on the Hong Kong Stock Exchange in September 2020. The belated IPO bell has also drawn special attention to the beverage giant’s road to capital markets.

Since its listing, Nongfu Spring has indeed achieved a leap forward in its share price under the attention of many people. The share price on the first day of listing skyrocketed by more than 80%, from the initial issue price of HK $21.5/share to the intraday peak of HK $68.75/share on January 8, 2021. The share price has more than doubled in less than five months, and the total market value once exceeded HK $770 billion.

But then, the company’s share price took a nosedive and began to decline, giving back 25% of its gains in less than two months.

Since the listing of Nongfu Spring,