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The highest 35,000 Hong Kong dollars to recruit riders？ Wang Xing wants to send Meituan takeaway to Hong Kong

Meituan, which went public in Hong Kong in 2018, is finally going to enter the Hong Kong market after five years of listing.

The First Financial Reporter logged in to Meituan’s relevant website to check and found that users can already fill in the relevant personal information to sign up for Meituan Hong Kong delivery staff. The reporter also noticed that Meituan opened the "Meituan delivery staff" channel on the instant message software Telegram in early February this year, and released the first message on the afternoon of February 20, giving the introduction of Meituan delivery staff and the recruitment registration link.

According to the introduction, Meituan divides the delivery staff into "riders" and "infantry". "Riders" need to be at least 18 years old, have a motorcycle, a valid driver’s license, a driving license and car liability insurance, and need to have safety equipment. "Infantry" can be at least 16 years old. Both require qualifications for life in Hong Kong and communication equipment. As of press time, the channel has more than 2,000 subscribers.

In addition, the first financial reporter checked on the Hong Kong talent recruitment website and found that Meituan has recently posted positions for business development personnel and key account managers related to takeout.

Regarding the entry into the Hong Kong takeaway market, the first financial reporter asked Meituan about this, but Meituan has not responded as of press time.

A Hong Kong user showed her commonly used takeaway app to First Financial Reporter

Hong Kong’s takeaway market is yet to be developed

According to local consumer feedback, Meituan has a lot of room to explore when entering Hong Kong.

A person who works on the main island of Hong Kong Island told First Financial Reporter that the takeaway market in Hong Kong currently mainly includes Deliveroo (household delivery) and Foodpanda two major platforms. Previously, Uber Eats, the Uber takeaway service, did not gain a foothold in the Hong Kong market and finally left the market. Among them, Deliveroo is a British food delivery platform. In the fourth quarter of 2022, the company’s orders in overseas regions fell by 5%, while orders in the UK and Ireland local markets rose. Foodpanda’s parent company is Delivery Hero in Germany. It is reported that it will achieve profitability in 2023. Delivery Hero is considering adjusting some markets, including South East Asia.

She concluded to reporters that the labor cost in Hong Kong is high, so the delivery fee of Hong Kong takeaway is high. In addition, there are pain points such as long delivery time, average user experience of takeaway packaging and distribution services, and insufficient coverage of cooperative merchants.

For example, in some takeaway packaging details, even some good merchants are often poorly packaged, unsealed, and often spilled. In addition, whether it is a large restaurant or a small restaurant, the delivery is slow, and the delivery takes more than 40 minutes. In case of bad weather such as rain, it takes 1-2 hours or even longer. In terms of delivery fees, even if the distance is very close, it costs about 35 yuan. Some restaurants need to spend 200-300 yuan at a time to enjoy free delivery. In addition, users can get certain discounts by buying a takeaway membership every month (about 100 Hong Kong dollars).

In addition to the delivery platform, there are also Hong Kong consumers who have reported to reporters that many restaurants will deliver their own goods. "According to the delivery fee, the delivery fee for the closer distance is about 8 Hong Kong dollars, and the freight for the farther distance ranges from more than 10 Hong Kong dollars to more than 40 Hong Kong dollars. Some restaurants will give free delivery if they hold events." Overall, consumers believe that the current delivery service in Hong Kong is not convenient.

In addition, Hong Kong consumers’ user habits are also different. In an interview with the First Financial Reporter, many Hong Kong consumers said that unlike mainland netizens who have become accustomed to ordering takeout on mobile phones, Hong Kong’s streets are close, restaurants are densely distributed, and it is very convenient for people to eat out. Therefore, the consumption habits and demand of takeout are relatively "mild". Therefore, it seems that the service of the takeaway industry is not advancing so fast, but I believe that the Hong Kong takeout market will be "rolled up" after more competitors enter, and it is expected that there may be a subsidy war. Delivery fees are also expected to decline.

Another consumer told reporters, "Most people like to go to restaurants to eat, fresh and cheap. There are also people who choose takeout. If there is a subsidy or it is cheaper, more people will definitely be willing to use it."

Income up to HK $35,000

From the salary given by Meituan’s official website, Meituan may not worry about finding riders after entering Hong Kong.

The reporter checked the information and saw that Meituan Hong Kong riders’ income is composed of three parts: delivery service fee, group reward (including delivery on time rate, order completion rate, order receiving rate and other indicators) and event reward. To encourage registration, Meituan gave a welcome reward. New deliverymen have "single prize activities" within 14 days after successful registration, and have the opportunity to earn an additional HK $2,500 during this period.

Some people calculate that based on the delivery of about two orders in one hour, assuming that the deliveryman has completed 500 orders and received all the rewards in the month, the maximum income can reach 35,000 Hong Kong dollars. In contrast, according to public data, the median monthly income of employed people in Hong Kong in the second quarter of last year was 20,000 yuan (excluding foreign domestic helpers).?

Judging from the delivery situation of mainland riders, a single rider can deliver more than 900 orders per month. Meituan rider at a site in Tongzhou District, Beijing told the First Financial Reporter that the average daily delivery order volume of riders at the site is about 30 orders, that is, a single rider can reach 900 orders per month. If during the peak period of holidays, the average daily delivery order volume of each delivery staff will reach 40 orders.

However, giving high income also means that the company needs to bear high rider expenses. Coupled with the price war and subsidy war when entering new markets, Meituan is expected to still burn money when entering the Hong Kong market. How much cake can be grabbed from Deliveroo (household delivery) and Foodpanda tests Meituan’s comprehensive operation ability, and Meituan’s performance in the Hong Kong market may also directly affect its Hong Kong investors.

In fact, from the perspective of time, Meituan has been planning to enter the relevant market for a long time. Previously, in the third quarter of 2022 earnings call, Wang Xing responded that Meituan will continue to explore the Chinese mainland market and will also go to other regions. At present, Meituan’s market test in Hong Kong is not large, and there are differences in services between the two places. The team also needs to adjust the existing business model to cope with the new market.

In October last year, Meituan’s official recruitment platform showed that many of the overseas business-related positions under recruitment were marked with Hong Kong in the base column, and the recruitment requirements indicated that "Cantonese and English can be used as working languages are preferred". Most of the business positions belong to the home business group, that is, the business group where the takeaway business is located.

However, from the financial report, Meituan has not yet achieved balance in the distribution part. Taking the third quarter of 2022 financial report as an example, Meituan’s distribution service revenue reached 20.10 billion yuan in the quarter, while the distribution-related costs reached 22.50 billion yuan.

From the perspective of competition, the competition in the takeaway market is intensifying. In February, Douyin said that the takeaway business in cooperation with Ele.me is currently being carried out in some pilot cities. At the same time, Douyin’s "group buying and distribution" project is still being piloted in Beijing, Shanghai and Chengdu. Recently, merchants in these three cities have been opened to self-service. In the future, depending on the pilot situation, we will consider gradually expanding the pilot cities; not long ago, the WeChat platform also launched "store delivery" cut-in takeaway service in some cities, which means Meituan will face multi-party competition.

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The city’s autonomous driving pilot will be upgraded again in June 2024 – the autonomous driving demonstration area will be expanded to 600 square kilometers

　　The original title: The city’s autonomous driving pilot will be upgraded again in June this year – the autonomous driving demonstration area will be expanded to 600 square kilometers

　　Autonomous cars are "starting" from Yizhuang and "driving" to a wider area of Beijing. Recently, it was learned from the Municipal Self-driving Office that the Beijing High-level Autonomous Driving Demonstration Zone started construction in 2020 and has been iterated to the 3.0 stage. It will be expanded to 600 square kilometers in June 2024, of which 440 square kilometers are located in Tongzhou and Shunyi.

　　Tongzhou Shunyi can take driverless taxis

　　In September 2020, the city launched the construction of the world’s first vehicle-road cloud integrated autonomous driving demonstration area in Yizhuang. With the continuous expansion of the city’s pilot exploration, the autonomous driving demonstration area has been expanded to the surrounding 100 square kilometers.

　　With a wider land, autonomous cars are running more and more "smoothly". The country’s first intelligent networked vehicle policy pilot area built based on the demonstration area has frequently launched new policies in the industry. Take autonomous passenger vehicles as an example, safety officers are gradually moved from the main driver to the co-pilot, then to the back row, and finally to remote control and complete unmanned; the original road test is also moving towards manned and commercialized pilots in the mileage accumulation.

　　Entering 2024, Beijing’s autonomous vehicles will see new progress almost every few days. Not only will unmanned sweepers and unmanned patrol cars be added one after another, but unmanned "taxis", unmanned shuttle vehicles, and unmanned heavy trucks will also be sent to farther destinations.

　　According to the plan, in June 2024, the scope of the demonstration area will be further expanded from the current 160 square kilometers to 600 square kilometers, achieving full coverage of more than 400 road intersections and 10 kilometers of expressway roadside intelligent equipment and smart city special network, and initially building a city-level engineering test platform.

　　At present, the construction of the demonstration area has been expanded to Tongzhou and Shunyi, which is the remaining 440 square kilometers of the 3.0 phase. With the completion of the 3.0 phase of the demonstration area, the scope of the intelligent network policy pilot area will also be expanded simultaneously, and autonomous vehicles will operate within the coverage of the demonstration area. This means that after the completion in June, more autonomous cars will run on the streets of Tongzhou and Shunyi, and residents of the two places can also experience driverless "taxis" with one click and enjoy unmanned delivery services.

　　Eight scenarios serve the lives of citizens

　　Driverless taxis, autonomous minibuses, unmanned shuttle cars, unmanned delivery vehicles, unmanned sweepers, unmanned patrol cars, autonomous freight trucks, and unmanned retail vehicles have served the lives of citizens in Beijing in eight application scenarios.

　　The data shows that the demonstration area has deployed more than 800 autonomous vehicles, issued road test plates for 29 test car companies, and the test mileage is nearly 30 million kilometers. These autonomous cars have achieved good demonstration application results within the current demonstration area, and various scenarios have been commercialized.

　　"In the future, with the construction and further planning of the demonstration area, the corresponding scenarios will also be expanded according to local conditions." According to the relevant person in charge of the Municipal Self-Driving Office, in early 2024, the city has realized the autonomous driving connection from the demonstration area to Daxing Airport and the short-distance connection around the three major buildings of the sub-center. In the future, as conditions mature, more stations will be gradually opened to realize the opening of connections in Beijing South Railway Station, Fengtai Station, Chaoyang Station, Qinghe Station, City Sub-center Station, Daxing Airport, and Capital Airport, creating more benchmark cases for autonomous driving application scenarios.

　　The 4.0 phase of the demonstration area will also start construction in 2024. Compared with the 3.0 phase, this phase will further mobilize the enthusiasm of the construction of demonstration areas in various administrative regions, and explore more perfect and efficient investment models and construction mechanisms. At the same time, contiguous development will be realized in application scenarios such as passenger cars and unmanned cleaning, and the commercialization of autonomous driving will be accelerated.

　　Autonomous driving legislation is expected to be completed by 2024

　　In 2024, autonomous cars will usher in legislative protection. "The city’s intelligent connected car policy pilot area has formed a policy system architecture of ‘2 + 5 + N ‘, built a moderately advanced policy management system for industrial development, and accumulated relatively mature and rich experience in autonomous car testing and demonstration, supervision and management," said the relevant person in charge of the Municipal Bureau of Economy and Information Technology.

　　As early as October 2021, the Municipal Bureau of Economy and Information Technology and relevant units to build a world-class intelligent connected vehicle technology innovation highland and industrial incubation base as the goal, and actively promote legislative research work, has initially formed a legislative content framework, It is planned to establish a principled institutional framework for autonomous car supervision around innovation testing activities, infrastructure building, data open utilization, etc., to create favorable conditions for key core technology research, industrial cultivation and development and demonstration applications.

　　In the legislative process, it is planned to solidify the experience of the integrated construction of car, road and cloud in the demonstration area and replicate and promote it throughout the city. The relevant person in charge of the Municipal Bureau of Economy and Information Technology said that the legislative work of autonomous cars in this city is advancing in an orderly manner and has been included in the legislative review project of the Municipal People’s Congress in 2024, and strives to complete the review and release within the year. (Cao Zheng)

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Tencent Holdings bought back 2.60 million shares on June 19 at a cost of 1.003 billion Hong Kong dollars

　　On June 19, Tencent Holdings announced that the company repurchased 2.60 million shares on the Hong Kong Stock Exchange on June 19, 2024, at a cost of 1.003 billion Hong Kong dollars, and the average repurchase price was about 385.66 Hong Kong dollars based on the number of repurchases and costs; according to the disclosure, the highest repurchase price was 391.00 Hong Kong dollars, and the lowest repurchase price was 378.40 Hong Kong dollars.

　　It is understood that Tencent Holdings has repurchased 102 million shares in the past three months, accounting for 1.08% of the company’s issued share capital.

(Data source: iFinD)

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Priced at 4688 yuan, Huawei P7 Sapphire Edition sets off a high-end boutique trend

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<p>Since August 25, Huawei officially announced the launch of the sapphire version of the Ascend P7 – the industry’s first 4G mobile phone with a sapphire screen, this boutique mobile phone that combines art and technology has been highly anticipated among consumers. After Huawei Consumer BG CEO Yu Chengdong officially introduced the Huawei P7 Sapphire Edition to the global media at the Berlin Electronics Show in Germany, the product officially launched in the Chinese market on September 12, and announced the official price in China at the Shanghai Huawei Mobile Phone Conference at 4688 yuan.</p>
<p>From Yu Chengdong’s Weibo revealed that to Berlin, Germany, and then to Shanghai, China, Huawei P7 Sapphire Edition has attracted strong attention from users and the media all the way, and has given many affirmations to Huawei’s technology and its quality-focused strategy. Sapphire is considered to be synonymous with high-end, common in high-end watches, and only seen in super-first-line big brands such as Vertu and Lamborghini in mobile phone products. The most striking feature is its durability and scratch-resistant ability. Due to its hardness second only to diamond material, it is more wear-resistant than the current mainstream gorilla glass screen. The scratch-resistant ability of sapphire screen is self-evident. Secondly, sapphire material is not easy to black screen in strong sunlight, maintaining a clear visual experience. In addition, it has high antibacterial, chemical corrosion resistance, and high temperature thermal conductivity, which are not found in other materials and are also very attractive to consumers.</p>
<p>However, the products of sapphire screens have very high requirements for processing equipment, and mass production is difficult. Equipping sapphire screens not only needs to solve supply chain problems, but also to overcome the toughness and poor adhesion of the material itself in processing details, and many difficulties in surface performance. This requires manufacturers to have high strength in Product Research & Development, processing technology and cost control. Huawei has long established a layout in the sapphire industry chain, and it also conducts technology research and development and trials with suppliers. For example, in the process of foaming production, the two sides conducted tests through multiple precision high-temperature annealing processes, which ultimately eliminated the internal stress of sapphire and effectively improved the strength. For problems such as edge processing and cover plate punching, the most leading processing technology in the industry is used. In terms of ink screen printing and AF coating, Huawei has also developed its own suitable new inks and coating materials, ultimately achieving the perfect match of sapphire processing technology. With the help of sapphire technology and its increasingly mature channel layout, Huawei P7 has been put into mass production with the most advanced display screen, which not only brings a new upgrade to the mobile phone, but also Huawei’s ultimate pursuit of high-quality products.</p>
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<p>In recent years, Huawei mobile phones have put forward a quality-focused strategy. Since the second half of 2014, it has focused on developing high-end lines. With a series of high-quality products such as G7, P7, and Mate7, it has increased the market share of local high-end models and won a super good reputation. Huawei P7 has been selling well around the world since its launch. From Huawei P7 Arsenal Edition, Huawei P7 Pink Edition, to Huawei P7 Sapphire Edition, the launch of this series of sub-categories has not only won the pursuit and attention of consumers, but also greatly enriched the boutique line of Huawei mobile phones. As the industry’s first sapphire 4G mobile phone, Huawei took the lead in launching the sapphire version P7 ahead of Apple and other manufacturers, marking that Huawei has achieved world-class standards in cutting-edge technology; on the other hand, it has once again consolidated Huawei’s boutique layout in the mid-to-high-end field.</p>
<p>It is reported that the daily limited seckill activity of Huawei P7 Sapphire Edition will be launched in Huawei Mall. Users who want to experience the product first may wish to pay attention!</p>
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Memory across time – 40 years of Volkswagen in China

[Introduction: In the spring of 1984, after graduating from Jiaotong University at the age of 28, Yan Guangming became a reporter for China Automobile News. In the following decades, Yan Guangming has been paying attention to the changes in the automotive industry. He believes that the history of automobiles in China is actually half the history of Chinese cars. In 40 years in China, from the beginning of the tide to the surging tide, Volkswagen has always been the leader of automobile breakthroughs and innovations, promoting the continuous progress of China’s automotive industry.]

Cars are not just dreams, but also social expressions

Shanghai, as the cradle of modern Chinese industry, has always harbored an automotive dream. The wonderful chemical reaction generated by the encounter between Volkswagen and SAIC is not only a historical memory, but also a daily routine today. Volkswagen connects the past and the present, leading the transformation and development of the industry. When it comes to China’s reform and opening up, it is inseparable from Volkswagen’s integration. The cooperation between Volkswagen and SAIC can be called an ice-breaking move for China’s automobile industry. It is also the pioneer of Volkswagen’s integration into China and the creation of a new era of the car industry. The localization of cars provides a new development model for the construction of China’s car industry.

From working with cities to working with countries

If the cooperation with SAIC opened the prelude to Volkswagen’s development in China, then the cooperation with SAIC has put Volkswagen at the forefront again. In 1991, Volkswagen took the lead in partnering with China FAW, the eldest son of the Chinese auto industry, to establish a joint venture production base for 150,000 cars. In December of the same year, the first product Jetta was assembled and rolled off the production line. History has proved that from the popularity of family cars to luxury car manufacturing, Jetta and its contribution rate in China exceeded the car itself, rooted in daily life, became a collective memory, and witnessed the changes of the times.

If you don’t succeed in China, you will lose in the world

When the wheel of history turned to the track of new energy, Volkswagen took the lead in transforming into a software-driven enterprise. And tilted China’s new energy development and research and development to China. Use Volkswagen’s R & D center to drive intelligent transformation to the deep water area. Volkswagen’s strategic layout in new sources has set a new model for the transformation and development of traditional auto companies. After 40 years of integration with the Chinese market, this sedan market, which started almost from scratch, is empowering Volkswagen with intelligence and helping it take the lead in the new round of development.

Review:

The history of Volkswagen in China is actually half the history of Chinese cars. Volkswagen stands on the mast of the times to look at the industry and the changes in the world. In China for 40 years, Volkswagen has been forging new milestones in China, for China, and for the world. In the future, the car looks at Volkswagen, shouldering a new historical mission, and it will continue to create new miracles that will impress the world on this hot land of the East.

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How can the AI era bring better services to designers？ Meitu Creativity Conference gives answers

With the rapid development of AI technology, a technological revolution in the design industry has begun. In the AI era, how can AI design bring better services to designers? Meitu Creativity Conference gave the answer.

From December 5th to 6th, Meitu Creativity Conference (MCC) with the theme of "Future AI Design" was held in Xiamen. This conference was jointly organized by Meitu and Zhanku, focusing on designer ecology and AI design trends. The "2023 AI Design Practice Report" was released at the conference. At the same time, Meitu released version 4.0 of MiracleVision, a self-developed AI vision model, focusing on AI design and AI video generation capabilities.

From image tools to design ecology, Meitu is leveraging AI design to consolidate its "image + design" business and explore productivity scenarios in depth.

AI design has revolutionized the entire design industry, while Meitu Creativity Conference has revolutionized the entire industry.

At the Meitu Creativity Conference, Meitu and Zhanku reached a deep strategic cooperation and jointly launched the "New AI Designer" program to provide AI design tools, learning platforms, professional communities and business opportunities for designers. "We will provide better services for designers to display their innovative talents in the AI era," Wu Xinhong said. "Meitu Creativity Conference is not only an event of innovation and design, but also an important starting point for exploring the future of AI."

Wu Xinhong, founder, chairperson and chief executive of Meitu, said that AI is leading the design industry to a new level.

"The future of AI design is the designer’s imagination plus the productivity of AI." Wu Xinhong believes that AI tools will serve as a right-hand assistant to assist designers in creating more stunning works.

"2023 AI Design Practice Report" Reveals Industry Trends and Opens the Way for AI Designers to Advance

The development of generative AI has greatly enriched the design creation ecosystem, reshaping almost the entire design process.

The "2023 AI Design Practice Report" released at the Meitu Creativity Conference pointed out that nearly half of designers have used specialized AI tools. Especially in the e-commerce industry, designers have initially realized the use of AI to deliver finished products.

However, the popularity of AI tools at the enterprise level is still poor, with only 8% of enterprises using AI tools. Moreover, the current usage rate of foreign AI tools is much higher than that of domestic AI tools, but the report believes that domestic AI tools have great potential. Low threshold, support for Chinese and Asian aesthetics are important advantages of current domestic AI tools. The three major pain points of current AI design tools are inaccurate control, flawed generation, and disputed copyright. In terms of workflow, AI still needs to be combined with traditional tools to complete design delivery at this stage.

But there is no doubt that the involvement of AI in the design workflow has become increasingly deep and mature. And it is foreseeable that in the future, any creative person can use AI tools to realize their own ideas and creativity, and the profession of designer will also be redefined. On this basis, the report proposes three suggestions for design workers in the AI era: one is to improve aesthetics and creative ability; the second is to think more cross-border; the third is to precipitate experience into models, and eventually become the master of AI in practice.

In addition, the report makes five major predictions for AI design trends from 2024 to 2025: first, AI will bring about changes in design generalization and design capability structure, and a group of cutting-edge designers who are good at AI will emerge; second, AI design capabilities and coverage categories will be more perfect, becoming the standard of design workflow; third, AI video generation will usher in a big explosion in 2024; fourth, AI will shine in the marketing field, and there will be several AI marketing cases with national screen swiping in 2024; fifth, by the end of 2024, the utilization rate of AI design tools in the Chinese market, and domestic tools are expected to exceed overseas tools.

Self-developed visual model function upgrade, witnessing the leap in Meitu’s AI capabilities

From the "Emerging AI Designer" program to the "2023 AI Design Practice Report", Meitu’s determination to consolidate the "imaging and design" business is evident.

On December 5, the MiracleVision 4.0 version of Meitu’s self-developed AI vision model was officially unveiled, and two new capabilities were upgraded: AI design and AI video.

In terms of AI design, it is mainly reflected through the four capabilities of vector graphics, text special effects, intelligent layering, and intelligent typesetting. At the same time, the launch of the new visual model store supports the creation of personal visual models, which can help designers achieve unique artistic pursuits;

In terms of AI video, it is reflected in the four major capabilities of Text-to-Video, Image-generated Video, Video Motion Mirror, and Video-generated Video. At present, MiracleVision’s video generation capabilities have been integrated into the industry workflow, especially in the e-commerce and advertising industries.

It is worth mentioning that MiracleVision 4.0 will be launched to Meitu’s products one after another in January 2024. At that time, users can experience it in Meitu Xiuxiu, Beauty Camera, Wink, Meitu Design Studio, WHEE and other products. In addition, the Meitu Vision Big Model team also announced two news. First, the mobile end of WHEE is officially launched, and major app stores can search for "WHEE" to download. Second, MiracleVision officially opens its commercial API to the outside world.

It is not difficult to see that the rapidly iterating MiracleVision vision AI model has become an important fulcrum for Meitu to explore imaging and design productivity scenarios in depth.

Based on the expansion of the "image and design" business, Meitu also announced a number of important cooperation at the conference. In particular, with the ability of Meitu’s visual model to provide services to 1.745 million e-commerce users, Meitu has reached cooperation with dozens of e-commerce and brand customers such as WeChat, Knowledge, Deli, and Feiyu.

Accelerating the development of emerging productivity scenarios, Meitu is expected to usher in a transformation of its business model

From e-commerce to graphic design, games, and film and television scenes, Meitu accelerates its penetration into business scenarios in sub-industries through the combination of generative AI and tool software. In the process, Meitu’s user value, designer value, and product value will be multiplied.

Meitu is expected to capitalize on its long-standing advantages in the imaging field to provide users with highly competitive generative AI tool software products in batches.

Tianfeng Securities released a research report saying that after the successful switching of the business model and the return of the founder as the chairperson, Meitu has comprehensively focused on the main business at the strategic level. The company has achieved strong main business income growth, and the company’s competition landscape advantage in the C-end may be underestimated. Relying on the long-term accumulated experience and users, it is expected to re-seize the original professional tool software market in the process of accelerating the integration and innovation of tool software in the AI era.

On this basis, Tianfeng Securities expects Meitu’s 23/24 annual revenue to be 28.78/37 3 million yuan, and gives Meitu a 10XPS valuation in 2023, corresponding to the market value of 30.95 billion Hong Kong dollars, and the target price is 6.96 Hong Kong dollars, maintaining the "buy" rating.

In the research and development released recently, CICC also gave Meitu a "outperform the industry" rating for the first time, with a target price of HK $4.3. The bank believes that the increase in payment rates will become the main driver of Meitu’s subscription revenue growth. It is expected that the payment rate will reach 5.3% in 2025, the number of paying users will reach 13.78 million, and the subscription revenue is expected to reach 2.58 billion yuan, which is close to doubling the growth space compared with 2023. At the same time, it pointed out that Meitu has redefined its tool positioning and has clarified its subscription business model in the context of young users paying users. It is currently exploring emerging scenarios such as productivity driven by AI trends, and is expected to usher in business model transformation in the future.

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Focus on 315 ｜ Standardize the disinfection products market and ensure the prevention and control of epidemic situation.

With the prolonged ups and downs of the epidemic in COVID-19, the market demand for disinfection products has continued to grow, and new situations and problems have emerged in disinfection products’s production and sales. In this issue, we introduce a case of operating disinfection products without a new disinfection products health permit approval document, and let’s see how the health supervision department finds problems, accurately identifies and solves problems in daily work, and protects consumers’ health rights and interests according to law.

Case introduction

In August, 2021, the supervision office of Shanghai Municipal Health and Wellness Committee received an investigation letter from the health administrative department of Z City (hereinafter referred to as "investigation letter"). The investigation letter said that a "Y disinfection spray" was found, and the enterprise provided a health and safety evaluation report with the product name "Y object surface disinfectant", which was suspected to be unqualified in health and safety evaluation. The manufacturer of the above products is Company A in Shanghai, and the responsible unit is Company B in Shanghai. The Shanghai Municipal Health and Wellness Committee Supervision Office conducted on-site supervision and inspection on the two companies the next day.

The health supervisor found a disinfection products with incomplete label at the site of company A, and the product label was marked with the words "Y garlic E new generation antibacterial disinfection spray (no-wash type)"; In both companies, the health and safety evaluation report of "Y-object surface disinfectant" mentioned in the investigation letter was found. Through inquiry and data comparison, the supervisor finally confirmed that "Y garlic E new generation antibacterial disinfection spray (wash-free type)" is "Y disinfection spray", and "Y object surface disinfectant" is another disinfectant produced and operated by two companies. The labels of both products are marked with garlic E as the main effective ingredient. The supervisor carefully checked the production records provided by Company A, and found that the dosage of garlic E in "Y Disinfection Spray" was 0.1%, and that in "Y Object Surface Disinfection Liquid" was 0.05%. Because the product names of the two products and the content of garlic E, one of the main effective components, were different, the supervisor decided that "Y Disinfection Spray" and "Y Object Surface Disinfection Liquid" were two different disinfectants.

It was confirmed by the supervisor that "Garlic E" was not included in the list of effective ingredients of disinfectant raw materials in the Judgment Basis for Producing Disinfectants and Disinfecting Instruments by Using New Materials, New Technology and New Sterilization Principles (hereinafter referred to as "Three New Judgment Basis"), nor was it included in the disinfection and antisepsis category in People’s Republic of China (PRC) Pharmacopoeia, nor was it included in the current national health standards and norms. According to the provisions of the Measures for the Administration of Disinfection, the two disinfectants can be produced and sold only after obtaining the approval document of the new disinfection products sanitation license. However, the above two products have not obtained the approval document of the new disinfection products sanitation license and belong to disinfection products without the approval document of the new disinfection products sanitation license.

The above-mentioned behavior of Company B belongs to disinfection products, which has no new disinfection products health permit approval document, and violates the provisions of Item (1) of Article 32 of the Measures for the Administration of Disinfection. According to the provisions of Article 43 of the Measures for the Administration of Disinfection, Company B is ordered to immediately correct the above-mentioned illegal behavior and impose an administrative penalty of RMB 3,000. Company A’s illegal act of producing disinfection products without the approval document of new disinfection products health permit has been dealt with separately. Company B fully fulfilled the administrative penalty decision, and the case was closed in December 2021. At the same time, the handling situation has been replied to the health administrative department of Z City.

Case analysis

This case is a typical case in which disinfection products was investigated by other provinces who were initially suspected of failing to pass the health and safety evaluation, and it was finally determined through investigation that the party concerned operated disinfection products without the approval document of the new disinfection products health permit. The "reversal" of this case has triggered the supervisor’s thinking on handling the investigation case. By responding to clues quickly, jumping out of inertia thinking, and conducting rigorous investigation and argumentation, the case embodies the characteristics of professional law enforcement, in-depth excavation and rigorous verification, which has certain reference significance for similar cases.

Break through inertia

Dig deep into the essence of the case

The initial investigation letter received in this case showed that the preliminary investigation result was that the health safety evaluation was unqualified. After receiving the investigation letter, the health supervisor did not make a preconceived and direct characterization, and was not confined to inertial thinking. Instead, he further tracked the clues and explored the problems in depth through on-site inspection, repeated inquiries, careful review of information and other means. Finally, taking the product label instructions and production records as a breakthrough, using solid professional knowledge and legal basis, it is judged that one of the main effective components of the two products is garlic E, which belongs to the "three new" products, thus directly hitting the core of the problem and determining the illegal facts.

go to the very source of sth

Comprehensively investigate illegal enterprises.

During the investigation, the supervisor not only limited his vision to the "Y Disinfection Spray" product in the investigation letter, but also inquired into the "suspicious" products in the field investigation and data collection, and faced with the messy materials provided by the parties, he tried to find clues patiently and carefully. The supervisor took a "delivery note" provided by Company B as the breakthrough point. From the initial suspicion that the case involved two kinds of disinfection products, to the final determination that the two disinfectants were different disinfection products through the differences in product names and main effective components, the supervisor made full use of his professional law enforcement level, so as to achieve rigorous argumentation logic and interlocking evidence, and thoroughly sort out the illegal acts of the enterprises involved.

Lay a solid foundation

Accurately characterize the "three new" products

Since the outbreak of Xinguan epidemic, Shanghai has filed several cases of illegal production and operation of disinfection products without the approval document of new disinfection products health permit. The qualitative determination of "Sanxin" products is different from the judgment of undocumented and unqualified health and safety evaluation, which puts forward higher requirements for the professional quality and basic skills of supervisors. The case-handling personnel should comprehensively refer to "Sanxin Judgment Basis", "People’s Republic of China (PRC) Pharmacopoeia" and other relevant national standards and regulations, make bold guesses, carefully demonstrate, and avoid abusing the cause of action and misjudging.

Comprehensive judgment

Qualitative enterprise "management" behavior

The case occurred during the disaster in Z city. During the investigation, Company B claimed that the two products involved were all donated to Z city for disaster relief. In order to determine whether the company had any business activities, the supervisor held a special discussion with the legal affairs department, and agreed that the donation certificate issued by "public welfare social organizations and public welfare non-profit institutions" was required to be recognized as "public welfare donation", but Company B did not provide any donation certificate in the end. During the epidemic, many enterprises donated disinfection products to reflect their corporate responsibilities, but the quality of their products was uneven. This case provides a reference solution to how to separate illegal products from the chaotic "donation" behavior.

Thinking suggestion

With the normalization of epidemic prevention and control in COVID-19, new problems are emerging in disinfection products. How to find problems, accurately identify and solve problems in the dazzling disinfection products in the market has become a new challenge for supervisors. Facing the new challenges, health supervisors should actively adapt to the situation, lay a solid foundation, master disinfection products’s laws, regulations, standards and professional knowledge, change constantly, grasp the basic nature of products, analyze them in detail, and directly attack the essence of the problem, so as to continuously improve their law enforcement level and case handling ability. At the same time, in the face of illegal clues such as investigation letters, supervisors should not only draw conclusions based on preliminary investigations, but should further trace them and find deeper problems; It should not be limited to the clues of the investigation letter itself, but should be thoroughly investigated, and there should be no dead ends to dig up illegal acts; We should not aim at punishment, but solve the existing problems of products and improve the main responsibility of enterprises, so as to reduce illegal acts from the source, standardize the disinfection products market and ensure the prevention and control of epidemic situation.

Contributed by Hu Dandan.

Original title: "Focus on 315 | Standardizing disinfection products Market and Ensuring Epidemic Prevention and Control"

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Candidate company： Hangzhou Wahaha Group Co., Ltd.

Company name:

Hangzhou Wahaha Group Co., Ltd.

Participation awards:

Annual Poverty Alleviation Award

Introduction to the participating units:

Hangzhou Wahaha Group Co., Ltd. was founded in 1987. It has 80 production bases and more than 180 subsidiaries in 29 provinces and autonomous regions across the country, with nearly 30,000 employees. The products mainly cover more than 200 varieties of protein beverages, packaged drinking water, carbonated beverages, tea beverages and more than ten categories, ranking among the top 500 Chinese enterprises.

Reasons for participating in the evaluation:

In the post-epidemic era, companies must not only defend the "position" of traditional sales channels, but also expand new "battlefields", find new opportunities, and empower new development. In May, Wahaha announced its entry into the e-commerce industry to build a "healthy" vertical e-commerce platform.

At the Hangzhou "Spring Breeze Action" mobilization meeting held in January 2020, Wahaha Group donated another 10 million yuan and won the "Spring Breeze Action" 20th Anniversary Good Award Excellent Unit. As a major donor to the "Spring Breeze Action", Wahaha has currently donated 104.60 million yuan, sending warmth and help to countless students in need.

Since the first "Spring Breeze Action" was launched in Hangzhou in 2000, Wahaha has responded positively. This public welfare has been done for 20 years. Zong Qinghou, chairperson of Wahaha Group, said: "Wahaha is a native enterprise in Hangzhou and has always attached great importance to education since its establishment. The purpose of our Spring Breeze assistance activities is to give more people equal opportunities to thrive in life."

Wahaha started as a school-run enterprise in 1987 and has always been sincere about education. In 2011, it launched the "Wahaha · Spring Breeze Student Aid" special project fund. So far, the project has accumulated more than 90 million yuan in assistance and distributed more than 70 million yuan in student aid, helping more than 30,000 students in need to realize their "college dream". In recent years, the "Wahaha · Spring Breeze Student Aid" project has continuously innovated the carrier of student aid, enriched the forms of student aid, and expanded the coverage of student aid, and has achieved remarkable results in solving the problem of children in difficult families going to school.

Since 2018, "Wahaha · Spring Breeze Student Assistance" has been extended to counterpart assistance areas, and has organized counterpart assistance activities for Enshi Prefecture and Qiandongnan Prefecture. In the past two years, a total of 12 million yuan has been allocated to support 4,000 difficult students in Enshi and Guizhou to go to university.

On December 10, 2019, the Municipal Federation of Trade Unions held the first "Wahaha Spring Breeze Scholarship" scholarship issuance ceremony at the Cangqian Campus of Hangzhou Normal University, donating 2 million yuan to encourage the students to study hard and repay the society, continue to pass on social love, and cultivate the spirit of "Spring Breeze Action". The "Pei You Fund" is a new project of the Hangzhou Federation of Trade Unions, the Hangzhou Municipal Education Bureau and Wahaha in the "Spring Breeze Action". It is dedicated to improving the living and learning conditions of college students in Hangzhou who are both excellent in character and learning and have family difficulties, so that they can not only "go to school", but also "go to school".

It is better to teach people to fish than to teach them to fish. While providing bursaries for students in need, Wahaha also actively creates social practice opportunities for them, so that Spring Breeze Student Aid can be further extended to job assistance. In August 2019, the Municipal Spring Breeze Office and Wahaha Group held the "Wahaha · Spring Breeze Student Aid" Vocational Experience Summer Camp. 21 Enshi and Qiandongnan students came to Hangzhou to participate in a week-long lecture training, visit and inspection, and practical operation of positions. As early as four years ago, hundreds of college students from Zhejiang Technology University, Zhejiang University of Technology and other universities in the province participated in the special training and job fair of "Wahaha · Spring Breeze Assistant". Through practice in more than 280 positions in production, scientific research and management provided by Wahaha, they combined theory with practice and improved their ability to innovate and start a business.

Note: The above information is provided by the applicant.

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