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　　Xinhua News Agency, Nanning, April 17th　Title: Re-taking projects and lightly accepting 3,000 scientific and technological projects as "unfinished"

　　Xinhua News Agency reporter Li Bin

　　More than 3,100 scientific and technological projects over the years have received support funds, but they have not been accepted for several years, and the funds have not been recovered according to regulations, involving more than 700 million yuan. What are the problems behind the "unfinished" science and technology projects in Guangxi?

　　More than 3,100 projects are overdue for acceptance, and some are overtime for five or six years.

　　After many whistleblowers reported for a long time that an enterprise in Liuzhou was suspected of obtaining funds for science and technology projects, the Science and Technology Department of Guangxi Zhuang Autonomous Region recently found that as of June 30, 2015, there were more than 3,100 projects that were overdue (or expired) and had not been accepted, involving 713 million yuan in funding.

　　A list of overdue scientific and technological projects obtained by the reporter shows that the projects that have not been accepted involve many natural and social sciences such as industry, agriculture, architecture, education, environmental protection and biology, and the undertaking units involve party and government organs, scientific research institutes, universities, media, enterprises, etc. Each of these projects has a completion time, and some of them have exceeded the acceptance time limit for five or six years.

　　The reporter’s investigation found that there are many hidden problems behind the "unfinished" of a large number of scientific and technological projects, which cannot be ignored.

　　Wei Zhibian, director of the Planning and Finance Department of the Science and Technology Department of the Autonomous Region, said that more than 500 of the more than 3,100 projects were before 2008. At that time, results appraisal was required, and there was no strict management method for project acceptance. It is reported that these projects will not enter the acceptance procedures and will no longer be handled publicly.

　　Liuzhou Productivity Promotion Center undertook the project of "Liuzhou Digital Science and Technology Basic Service Platform Construction" in 2011, and received 1.5 million yuan of support funds. According to the contract, it should be accepted in December 2013, but it has not applied for acceptance yet.

　　Some projects have changed, but the management department has let it go. In 2012, Guangxi Liuhua Chlor-Alkali Co., Ltd. undertook the project of producing sodium chlorate by new energy-saving technology, and the Science and Technology Department of the autonomous region gave 300,000 yuan of assistance funds, which has been overdue for more than two years and has not been accepted yet. Wang Xinrong, the project leader and deputy general manager of Liuhua Chlor-Alkali Co., Ltd., said that the project had done preliminary work at that time, and later it was terminated due to the falling price of sodium chlorate. The company later reported to the Science and Technology Department to apply for termination of the procedure, but it has not been answered.

　　According to the regulations, scientific and technological projects must be accepted four months after the expiration of the project, and it is illegal to accept them after the expiration of the time limit. More than 3,100 projects that have not been accepted on schedule have exceeded the time limit and can no longer be accepted according to regulations.

　　Some accepted projects have fraudulent acceptance. In December last year, the Science and Technology Department made a preliminary determination on a number of behaviors of Liuzhou Weite Printing Machinery Manufacturing Co., Ltd. and its affiliated enterprises to obtain scientific and technological funds: the Inspection Report in the acceptance materials of three national scientific and technological plan projects such as the company’s "CNC laminated special flexographic printing machine" and the autonomous region’s scientific and technological plan projects was forged.

　　Holding the project to find the "official hat", some projects hide the exchange of interests.

　　The reporter was informed that there were 2,588 overdue projects after 2008, and by the end of December 2015, 1,047 of them had passed the acceptance. In the second half of last year, Guangxi science and technology department concentrated on accepting overdue projects suspected of violating regulations.

　　For the overdue acceptance of the project, the financial funds invested should be recovered. According to the measures for the administration of science and technology projects issued by the Science and Technology Department of the Autonomous Region and the Department of Finance, the project fails to apply for acceptance and other situations. "The Science and Technology Department of the Autonomous Region shall record bad credit records, give a warning, informed criticism, suspend and cancel the project (project) according to the seriousness of the case, recover the allocated financial subsidy funds, and cancel the application qualification of the project (project) of the unit or relevant personnel within 1 to 3 years. Those suspected of committing a crime shall be transferred to judicial organs for handling according to law. "

　　It is understood that after sorting out a large number of projects that have not been accepted, at present, except for a few projects, the Science and Technology Department of the autonomous region has not handled the overdue projects in accordance with the regulations.

　　The survey found that among more than 3,100 overdue projects, many of the project leaders are leading cadres at or above the departmental level, and some projects were issued in 2008 but have not been accepted so far. According to a cadre of the Science and Technology Department, there are more than 100 projects in Guangxi that involve leaders at or above the deputy department level as responsible persons to undertake scientific and technological projects, and some leading cadres have taken the lead in undertaking several projects without acceptance.

　　"Some scientific research project approvers want to have a good relationship with some leading cadres, and there is an exchange of interests behind it." The cadre said that leading cadres should take the lead in undertaking the project and should abide by the regulations, but the reality is that these cadres have brought bad atmosphere.

　　When will the "only look at the materials" stop when the re-entry project is lightly accepted?

　　According to the data, from 2008 to 2014, Guangxi issued 11,222 science and technology projects (projects) in the autonomous region, and funded financial science and technology funds of 2.64 billion yuan. In addition, cities and counties still have a lot of funds to support science and technology projects.

　　"In the past, the science and technology department had some problems of rearrangement and light management. Some projects were accepted and some may not be accepted." The person in charge of Liuzhou Science and Technology Bureau said that the bureau has investigated the acceptance of science and technology projects.

　　A section chief of Liuzhou Science and Technology Bureau said: "There are too many projects. As a science and technology department, we can only look at the materials when accepting some projects." In 2015, Liuzhou Science and Technology Bureau spent 300,000 yuan to entrust a third-party organization to conduct external audit of the projects implemented since 2010, but it can only cover about 30% of the projects.

　　Chen Shengwen, director of the Policy and Regulation Supervision Department of the Science and Technology Department of the Autonomous Region, said that the Science and Technology Department is taking measures to strengthen supervision over the problems existing in the fund management of science and technology projects. Set up a special working group, arrange special funds, organize and entrust professional institutions to conduct major investigations and clean-ups on key and major scientific and technological projects implemented in the past three years to plug loopholes; Revise the management measures for the acceptance of Guangxi science and technology projects, and innovate the supervision methods of science and technology projects during and after the event.

　　The reporter’s investigation found that science and technology funds play a positive role in promoting scientific and technological innovation, but there are also some problems in the process of project establishment, such as "looking for relationships to fight for projects", "looking for things after having money" and "continuing to spend money without money".

　　Chen Bulei, a professor at Southwest University of Political Science and Law, suggested improving the systematic and targeted use of science and technology funds. Projects that cannot be accepted and closed should recover funds in time and be dealt with according to regulations; Science and technology projects should establish a public publicity system, introduce social supervision, and disclose the project name, undertaker, project leader, amount, time limit, completion and other information from the beginning of the project. If the project is not completed, it shall be liable for breach of contract or violation of law.

() The business review of the Board of Directors in 2022 is as follows:

　　I. The industry in which the company is located during the reporting period.

The company shall comply with the disclosure requirements of "Software and Information Technology Service Industry" in the Guidelines for Self-regulation of Listed Companies of Shenzhen Stock Exchange No.3-Industry Information Disclosure. The company’s main business belongs to the field of intelligent transportation business. By analyzing the customer’s business needs and designing the information system, the company integrates various separated devices, functions and information into interrelated, unified and coordinated systems through computer network technology and software technology, so as to carry out intelligent traffic electronic toll collection business and intelligent traffic operation management system business. At the same time, the development of smart transportation derivative business is mainly to build ecological scenes with "ETC+" as the core, integrate vehicle parking, refueling, road economy, car maintenance and car life, and develop ETC ecosystem business.

(A) the basic situation of industry development

Intelligent transportation is an important area of new infrastructure. In recent years, the state has successively issued a large number of policies and measures to support the development of intelligent transportation, and the intelligent transportation industry is in a period of rapid development. The national transportation power strategy, the new infrastructure policy and the Tenth Five-Year Plan have continuously promoted the digital transformation of the transportation industry. From top-level design to supporting implementation, the policy dividend of the smart transportation industry has been continuously released, and the two-wheel drive of policy demand has boosted the smart transportation industry to usher in a sustained and prosperous development, accompanied by deep excavation of data capabilities, which has driven the industry’s efficiency to continue to improve. The recent core policies of the smart transportation industry include the digital economy policy, the new infrastructure policy, the traffic power policy at the national level, and the relevant policies of the Ministry of Transport, the Ministry of Public Security, the Ministry of Industry and Information Technology and other relevant ministries and commissions in transportation planning, traffic safety and order management, and intelligent network connection.

In the field of electronic toll collection for smart transportation, electronic toll collection for expressways in China started relatively late, and began to be implemented on a pilot basis in 2005. In recent years, the General Office of the State Council, the National Development and Reform Commission and the Ministry of Transport have successively issued policies to encourage and support the development and application of ETC, and the industry has achieved rapid development. At present, ETC has become the most important toll method for toll roads in China. With the continuous improvement of the national network toll mechanism, the continuous expansion of application scenarios and the continuous improvement of technical level, the application of ETC is moving towards the 2.0 stage. According to the relevant data of the Road Network Monitoring and Emergency Disposal Center of the Ministry of Transport, by the end of February 2023, there were 11,362 toll stations, 29,277 physical portal frames and 87,618 toll lanes in the whole network, including 38,877 ETC lanes, accounting for 44.37%. According to the statistics of the Ministry of Public Security, the number of motor vehicles in China reached 417 million by the end of 2022, including 319 million vehicles. In 2022, the number of motor vehicles in China increased by 22 million, of which the number of motor vehicles increased by 17 million; According to the relevant data released by china automobile dealers association, in 2022, the national second-hand car transaction volume was 16.03 million. Overall, the future development space of this subdivision is broad.

(2) Industry policies

The State Council’s "14th Five-Year Plan" for Digital Economy Development in January 2022, the State Council’s "14th Five-Year Plan" for Modern Comprehensive Transportation System Development in January 2022, the State Council’s "Strategic Plan for Expanding Domestic Demand (2022-2035)" in December 2022, the State Council’s "National Comprehensive Three-dimensional Transportation Network Planning Outline" in February 2021 and March 2021. Create public facilities such as smart parking lots and smart charging piles. We will build an intelligent management platform for urban transportation in an orderly manner and improve the development level of digital and intelligent transportation. Promote the deep integration of new technologies such as the Internet, big data, artificial intelligence and blockchain with the transportation industry. Deepen the expansion and application of expressway electronic toll collection system (ETC) in multiple scenarios. Steadily promote the construction of a smart road network cloud control platform that integrates monitoring, dispatching, management and control, emergency response, service and other functions. Promote the development of smart parking.

Strengthen the construction of transportation dispatching and emergency command platform. Vigorously develop intelligent transportation and strengthen the construction of supporting facilities such as parking lots. Promote the digitalization and networking of transportation infrastructure. By 2035, a modern, high-quality national comprehensive three-dimensional transportation network will be basically built, which is convenient, smooth, economical and efficient, green and intensive, intelligent, advanced, safe and reliable.

In March 2022, the Ministry of Transport’s "Fourteenth Five-Year Plan" for Science and Technology Innovation in the Transportation Field, the "Fourteenth Five-Year Plan" for Digital Transportation in December 2021, and January 2022, The Medium-and Long-Term Development Plan for Scientific and Technological Innovation in Transportation (2021-2035), the Work Plan for Solidly Promoting the Implementation of Major Transportation Projects in the Tenth Five-Year Plan in March 2022, the Project Plan for Optimizing and Upgrading the Expressway Network Toll System (Draft for Comment) in June 2022, and the Notice on Further Promoting ETC Services in November 2021 encourage: Improve the road perception network, realize the digitalization of all elements and full cycle of infrastructure, build a smart road network platform integrating monitoring, dispatching, management and control, emergency response and service, and carry out dynamic risk monitoring and early warning, analysis and judgment. Deepen ETC application. Promote the coordinated development of a new generation of information technology in transportation and cities, and improve the intelligent management level of "holographic perception+collaborative linkage+dynamic optimization+precise regulation" of urban transportation. We will further promote the pilot construction of ETC smart parking cities, strive to expand ETC smart parking services to large and medium-sized cities across the country by the end of 2023, and basically realize the full coverage of ETC services for parking scenes of large traffic stations such as airports, railway stations, passenger stations and port terminals.

In October 2020, the Ministry of Public Security’s Traffic Management Science and Technology Development Plan 2021-2023, the Ministry of Industry and Information Technology’s "Tenth Five-Year Plan" in November 2021, the requirements for road motor vehicle product access review in February 2020, and the Ministry of Industry and Information Technology’s "Notice on Adjusting the requirements related to product access in the Announcement" in April 2020 put forward: building national unified norms and provincial unification. Promote the nationwide unified network access software for road traffic monitoring equipment, and by 2023, 50% of cities and 80% of counties and cities will complete the construction of a unified private network integrated command platform. Create a "smart brain" platform for the integration of expressways and national and provincial highways. By 2023, the mileage of highways using the integrated platform of expressways and national and provincial highways will exceed 50%. Strengthen the investigation and punishment of traffic violations by using video and other technologies. Build a new digital convergence infrastructure and promote the overall construction of C-V2X and 5G networks, smart transportation and smart cities. By 2025, key highways and urban roads will be covered by the cellular vehicle networking (C-V2X). From January 1st, 2021, the vehicle models newly applying for product access should be equipped with ETC vehicle-mounted devices (that is, front-mounted ETC-OBU) with direct power supply.

With the continuous release of policy dividends in the smart transportation industry, the two-wheel drive of policy demand will boost the smart transportation sub-sector to usher in sustained and high-growth development.

(III) Development stages and characteristics of the industry

The intelligent transportation industry has been growing for a long time. Due to the unbalanced level of economic development and technological development in different regions of China, the investment and construction of intelligent transportation management system in China are uneven in various regions, and the intelligent transportation business also presents certain regional characteristics. According to the forecast of Yiou think tank, the smart transportation market in China will reach 10.6 trillion yuan by 2030, with a broad growth space. It is expected that the technologies related to intelligent transportation will continue to mature in the future, and the intelligent layout of vehicles, roads and clouds will continue to improve, and the market will show a steady growth trend. From the perspective of single business products, the national market space of dispatching cloud can reach 1.6 billion yuan (160,000 kilometers, with an investment of about 10,000 yuan per kilometer). Policy promotion, customer demand and technological progress have accelerated the transformation of the transportation industry from informationization to digitalization, and data has gradually become one of the core production factors. The characteristics of interconnection and data element empowerment have prompted the intelligent transportation industry to move towards "cloud-network-edge-end" integrated technology integration and life-cycle value operation. The market share of intelligent transportation began to concentrate on the head enterprises with data and algorithm capabilities and in-depth understanding of the industry.

II. Main businesses of the Company during the reporting period

(a) the company’s main business and products

The company is the leading supplier of intelligent transportation platform solutions for expressways, trunk roads and urban transportation in China. The company’s main business includes three aspects: first, the smart traffic electronic toll collection business based on ETC, including ETC issuance and sales, electronic toll collection service business, etc., focusing on expanding the construction and operation of expressway and urban traffic toll collection and management systems; Secondly, the business of intelligent transportation operation management system based on cloud technology mainly includes system software development, comprehensive solutions and system technical services of intelligent transportation operation management; Third, the derivative business of smart transportation is mainly to build ecological scenes with "ETC+" as the core, integrate the life of vehicles such as refueling, road economy and car maintenance, and develop the ETC ecosystem business.

During the reporting period, there were no major changes in the company’s main business.

1. Intelligent transportation electronic toll collection service

The company’s smart traffic electronic toll collection business is mainly based on ETC, including ETC distribution and sales, electronic toll collection services, etc., focusing on the construction and operation of expressway and urban traffic toll collection and management systems.

ETC distribution business: The company is the only ETC distribution service organization in Jiangsu Province, taking the lead in realizing Internet distribution in the industry and realizing the nationwide distribution of distribution business. By the end of 2022, the number of ETC users of the company had reached 22.15 million, and the user coverage area had spread all over 31 provinces in China. During the reporting period, the company developed 1.28 million ETC users, accounting for 9.3% of the 13.7 million new ETC users in China.

During the reporting period, the company accelerated its business layout and established business cooperation relations with 14 OEMs, including (), Changan Automobile, Geely Automobile, Tesla, Weilai, Kia of yueda and Jaguar Land Rover. In addition, the company and () innovatively researched and developed ETC smart car glass, equipped with Fuyao glass sales to realize ETC car front loading, and realized ETC front loading in the field of automobile production supply chain, laying a good foundation for the sustainable growth of ETC distribution in the future. At present, Changan Automobile Auchan brand car front loading has been realized. Users can be locked in advance through the ETC pre-installation mode, which will further enhance the national market share of ETC users.

Electronic toll service: With the popularization of ETC, the further improvement of payment rate and the development of new car pre-installation mode, ETC payment has gradually penetrated from expressway to car-related scenes such as parking and refueling. The company’s electronic fee settlement amount has increased rapidly, from 15 billion yuan in 2017 to 39.4 billion yuan in 2022, with a compound growth rate of 21%.

2. Smart traffic operation management system business

The company’s intelligent transportation operation management system business relies on cloud computing, big data, artificial intelligence, Internet of Things and other technologies to develop and maintain intelligent transportation systems, effectively supports comprehensive transportation operation decision-making management and services, and focuses on three business scenarios of intelligent transportation command and dispatch, operational services and comprehensive management, and has formed three service themes of "smooth high-speed, high-quality and intelligent high-speed" and "dispatching, charging, maintenance, service, integrated management, digital intelligence and comprehensive management". The company’s main customers are government agencies related to transportation management, road and bridge enterprises and institutions, traffic police and other law enforcement units. During the reporting period, the company accelerated the digital transformation of intelligent transportation and deepened the integrated technology path of "cloud-network-edge-end", and has formed a number of intelligent transportation application products and comprehensive solutions with high technical content, strong profitability, scale and sustainability.

SD-WAN intelligent networking technology services, high-speed brain, AI video analysis cloud control platform, free-flowing cloud charging solution and charging robot, etc. The related products are as follows:

(1) Scheduling Cloud

"Dispatching Cloud" is a real-time interactive cloud service platform based on the concept of "internet plus Traffic", which takes travelers as the center, relies on rich advanced technologies and services on the cloud, and is built around the handling of expressway emergencies with full coverage of processes, all-round management and full participation of the society. At present, it has realized large-scale commercial operation and promoted to the whole country. The scheduling cloud platform specifically includes:

1) Four systems: event handling, intelligent detection, collaborative linkage and statistical analysis;

2) Eight functional modules: video monitoring, information board, voice, mileage post, comprehensive road conditions, meteorology, individual soldier and video intercom. B-end and G-end users, such as expressway management units, further enhance the emergency response ability, shorten the time from the accident to the resumption of traffic, and greatly improve the efficiency of expressway operation and management; At the same time, the platform serves C-end users and provides real-time road video, road information, one-click rescue, weather forecast and other services for public travel, which greatly improves the sense of security and convenience for public travel.

(2) Toll Cloud

The "toll cloud" is an independent innovation technology such as license plate "cloud recognition", () processing and fault-tolerant path restoration, which intelligently analyzes multi-dimensional captured data, identifies, locates, tracks and warns "specific vehicles", and builds a toll auxiliary system with accurate accounting, online billing and real-time escape, providing strong support for toll inspection.

(3) Internal control cloud

"Internal Control Cloud" is a reusable and customizable full-process digital management software service product for customers. This product uses the concept of flattening and great collaboration to finely manage and control the internal office processes in real time, and changes manual supervision into process supervision and data supervision. Through this product, the processes of information disclosure, document handover, supervision, procurement, salary, contract, meeting, payment, business trip, car use and duty are visualized and managed in a streamlined way, thus realizing the digitalization of organizational structure and process coordination, and greatly improving the office efficiency and management benefits of customers.

(4) Conservation of clouds

"Maintenance Cloud" takes daily road inspection and maintenance as its core function, and realizes closed-loop road maintenance business management integrating maintenance plan, task assignment, inspection, disease reporting, construction measurement, assessment and statistical analysis.

(5)SD-WAN intelligent networking technical services

"SD-WAN Intelligent Networking Technology Service" adopts two-way Internet broadband access, and undertakes the functions of safe and stable data transmission of various services from local to cloud. It solves the problems of long construction period, high cost, insufficient network accessibility, difficult operation and maintenance, and difficult data aggregation of traditional networks, greatly reduces the difficulty of operation and maintenance and management, improves the network quality, ensures the stable load of expressway toll collection, communication and other services, and realizes cost reduction and efficiency increase.

(6) high-speed brain

Through the deep integration and exploration of blockchain technology and transportation industry, "High-speed Brain" has established an autonomous and controllable digital infrastructure, expanded and built a credible data space and value network oriented to the transportation industry ecology, realized the collection, gathering and sharing of multi-factor scenes, full business processes and pan-high-speed ecology, solved the problems of incomplete data gathering, unreliable sharing and transmission, difficult support for business collaboration and difficult establishment of digital ecology, and made overall consideration of the road smooth work by digital means to effectively realize high-speed.

(7)AI video analysis cloud control platform

"AI video analysis cloud control platform" is based on multi-source heterogeneous data fusion processing, AI video image algorithm evaluation and analysis, rule engine machine governance, business adaptability deep learning optimization and other technical links. By combining AI analysis and manual calibration, the multi-source heterogeneous data of expressway perception monitoring are intelligently identified, data fusion, algorithm analysis, multiple governance and training and learning, and then the event monitoring and early warning data that forms automation, visualization and fits the traffic application scene is constructed. The platform can detect traffic accidents, abnormal parking, foreign body scattering, vehicle congestion, vehicle retrograde and other abnormal conditions in real time, and give an alarm prompt in real time. After application, it can greatly improve the highway traffic capacity and the ability to deal with accidents and incidents quickly.

(8) Free Cloud Charging Solution

The construction of "Free Cloud Charging Solution" focuses on "charging robot" and provides an overall solution for highway "free cloud charging", which improves the overall adaptability of toll station functions and reduces the construction cost, and realizes the full decoupling, data integration and online business of the charging system, and realizes the functions of accurate online charging, intelligent real-time audit, synchronous settlement verification and efficient special handling based on cloud big data. It mainly includes comprehensive charging system software with charging, check-in and auditing functions, as well as hardware products that are highly adapted to it, such as charging robot, digital economy big screen, fog lamp integrated equipment, grating vehicle type recognition integrated machine, integrated intelligent hurdle machine, ETC antenna and controller, and license plate recognition camera.

3. Smart Transportation Derivative Business

The derivative business of smart transportation is mainly the ETC ecosystem business related to car life. Relying on the advantages of the number of ETC users and the volume of data, we will build ecological scenes with "ETC+" as the core, integrate user services such as high-speed traffic, parking, refueling, road economy and car maintenance, innovate business models, create derivative services of ETC ecosystem, and provide customers with integrated car life services. Relying on ETC user resources and business scenarios, the company provides supply chain collaborative services such as customer acquisition channels, product operation strategy optimization and risk management measures for banks, factoring companies and truck carrier platforms.

During the reporting period, the company actively promoted the construction of ETC ecosystem and innovated the business model of smart transportation derivative business. ETC smart parking business is the first overall solution of "electronic fence" technology in China, which effectively solves the problem of "leakage" of traditional parking mode. It has been built and operated in 19 cities and counties such as Suqian, Wuxi, Taizhou, Nanjing Gaochun and Suzhou Taicang, with 1,519 newly signed parking lots and 938 put into operation. The ETC refueling project was put into operation in September 2022 in 20 gas stations, such as (), realizing the function of "one-yard aggregate payment" and providing the public with a quick refueling experience of "stop and add, pay and leave".

(II) The business model of the company’s main business

1. Intelligent transportation electronic toll collection service

(1)ETC issuance and sales business. The main business models are as follows:

The first category is direct sales. The company sells ETC products to banks and other cooperative institutions and charges them related fees.

The second category is offline customer service outlet sales. The company provides OBU equipment distribution, ETC payment binding and installation activation services for car owners through self-operated ETC customer service outlets, and collects relevant fees from customers such as cooperative institutions according to the agreement.

The third category is online channel sales. Through the online ETC distribution system, the company provides OBU equipment distribution, ETC payment binding and installation activation services for car owners and users, and collects relevant fees from customers such as cooperative institutions according to the agreement.

(2) Electronic toll collection service. The company independently develops the expressway mobile payment platform, and provides services such as electronic toll collection, clearing and settlement for customers such as expressway operation and management units, and collects technical service fees according to a certain proportion of the electronic toll.

2. Smart traffic operation management system business

At present, the company’s intelligent transportation operation management system business is mainly divided into system software development, comprehensive solutions and system technical services of intelligent transportation operation management.

(1) The software development business of intelligent traffic operation management system mainly provides customized software application development services for traffic operation management and other units according to their business needs, and collects software development fees from customers.

(2) Intelligent transportation operation and management comprehensive solutions mainly provide comprehensive solutions such as system design, software development, hardware configuration and system integration according to the business needs of transportation operation and management units, and charge customers for products and services.

(3) The technical service business of intelligent transportation operation management system mainly provides services such as operation, maintenance and upgrade of intelligent transportation operation management system for transportation operation management units, and collects technical service fees from customers.

3. Intelligent transportation derivative business

The company relies on ETC technology to expand application scenarios and huge ETC user groups. Starting from the needs of users, the company enhances user experience and enhances user stickiness, and cooperates with relevant third-party institutions to provide users with value-added services. The company collects certain service fees from third-party institutions according to the agreement.

Third, the core competitiveness analysis

(A) technical advantages

1. Build a "1+1+1+N" intelligent ecological alliance and build an ecological system of digital transportation scientific research cooperation.

The company has built a "1+1+1+N" intelligent transportation ecological alliance and continuously expanded the "circle of friends" for scientific research cooperation. Strengthen exchanges and cooperation with authoritative scientific research institutions, solve all kinds of "stuck neck" technical problems, and achieve important scientific research and technology research. Strengthen cooperation with well-known colleges and universities, and carry out academic, theoretical and practical multi-dimensional systematic research on key projects. Sign a talent training plan with the software laboratory of Nanjing University, carry out talent introduction and training, and build a software testing and data application laboratory; Cooperate with Nanjing University of Posts and Telecommunications to carry out research on traffic knowledge maps and other fields. Strengthen cooperation with well-known industrial Internet enterprises, realize cross-industry, cross-field and inter-departmental collaborative development mechanism, and jointly build an ecosystem of digital transportation scientific research cooperation. Cooperate with Tencent Cloud, Huawei, Qingyun Technology, (), Shangtang Technology and China Communications Hyde to set up six laboratories, namely, toll station digital twin joint laboratory, 5G edge equipment joint laboratory, industry application center joint laboratory, high-definition video cloud application joint laboratory, smart view joint laboratory and road condition and meteorological digital early warning joint laboratory. And (), ZTE and other strategic partners to promote the innovative development of the transportation industry in new technologies, new models and new applications.

2. Establish a "self-centered, self-controllable" scientific and technological research and development system to create the source of key core technologies.

The company is committed to the innovation and development in the field of digital transportation, constantly improving its scientific research capabilities, and establishing a "self-centered, self-controllable" scientific research and development system. By the end of 2022, the company had 291 technicians, including 101 people specializing in research and development. By the end of 2022, the company had independently researched and developed 11 core technologies, owned 258 patents, software copyrights and other intellectual property rights, successively participated in the compilation of 7 relevant regulations and rules of the Ministry of Transport, 1 league logo of China Highway Society, and led the compilation of 1 local standard. It has successively launched a number of scientific and technological innovations that "lead the direction of the industry, promote traffic changes and subvert the traditional model", and many scientific and technological innovations are at an advanced level in the industry, forming a scientific and technological research and development product system with independent intellectual property rights.

3, build new infrastructure, rich achievements in scientific and technological innovation.

In line with the strategic deployment of the national "new infrastructure" and the requirements of the times, we will further improve the "cloud-network-edge-end" collaborative digital transportation new infrastructure technology architecture based on "cloud control", "smart network" as the transmission mode, "smart edge" as the computing carrier and "smart end" as the IOT unit, and promote the digital transformation and intelligent upgrade of expressway network, which is an automatic driving. The company is recognized as a national high-tech enterprise, a leading enterprise in the high-quality development of modern service industry in Jiangsu Province, an engineering technology research center in Jiangsu Province, an engineering technology research center for smart high-speed travel service and operation in Jiangsu Province, an engineering technology research center for smart transportation cloud services in Jiangsu Province, and a Samsung Shangyun enterprise in Jiangsu Province. The core technology product "Dispatching Cloud" was selected as "Excellent Case of Digital Transformation of State-owned Enterprises in China"; "SD-wan Full Coverage Networking" was selected as an excellent case of "Cloud Computing Standards and Open Source Promotion Conference" and included in "Top Ten Symbolic Projects of Smart Jiangsu"; "Cloud-network-edge-end" digital new infrastructure project and "ETC ecological operation platform" project won the second prize of China traffic investment and financing innovation; "Jiangsu High-speed Brain" was selected as a pilot demonstration project for the development of big data industry in Jiangsu Province; "Jiangsu Expressway Integrated Digital Governance and Intelligent Decision-making Platform" is listed as "Key Project of Smart Jiangsu" and "Top Ten Symbolic Projects of Smart Jiangsu"; "Seeing the Road with Eyes-Video AI Intelligent Platform" was selected as an innovative product of artificial intelligence integration in Jiangsu Province in 2022;The project "Research and Demonstration on Key Technologies of Expressway Cloud Audit Management" was selected as the second prize of Science and Technology Award of Jiangsu Comprehensive Transportation Society.

(B) Market application advantages

In the field of intelligent transportation segmentation, the company has always been deeply involved in the Jiangsu market, and actively expanded the national market by virtue of industry-leading technological advantages, product advantages and operational advantages. By the end of 2022, the company has developed about 22.15 million ETC users nationwide, covering 31 provinces across the country, with the total number of users ranking among the top in the country. With "ETC+" as the core, a comprehensive intelligent transportation ecosystem in vertical areas such as ETC+ highway, parking, refueling, supply chain service and road economy has been built; During the reporting period, the company, as the only pilot unit of "provincial demonstration area" for ETC smart parking in China, has promoted the application of ETC charging system in 1,519 smart parking lots in different scenes, such as large transportation hubs, hospitals, universities, commercial complexes, tourist attractions and residential properties, and deepened the integration and development of high-speed dynamic smart transportation and urban static smart transportation.

In the business field of intelligent transportation operation management system, based on the above technical advantages, after years of operation, the company has rich experience in project implementation and achieved a lot of excellent project results. The company actively implements the development strategy of digital economy, develops and promotes digital technology products, and provides intelligent solutions for the "new infrastructure" of national transportation. Among them, the "Free Streaming Cloud Charging Solution" is causing new changes in the charging modes of "One National Network" and "Free Streaming"; "AI video analysis cloud control platform" provides powerful computing power for decision-making and governance of "high-speed brain"; The "highway network security system" realizes the monitoring of "one network" operation of national highways; Products such as "Maintenance Cloud" and "Dispatching Cloud" are applied in the road networks of Guizhou Expressway, Shenzhen Expressway and other provinces and cities, providing "Jiangsu Scheme" for industry users. The company has formed a mature business model and products, which can be quickly popularized and applied, and the series of products are promoted to 18 provinces and cities across the country. The company’s rich product market application experience provides a strong competitive advantage for the company to expand its business and further develop in the future.

(C) Strategic synergy advantages

Since the establishment of the company, the company has made full use of the advantages of scene resources of Jiangsu Jiaokong and Jiangsu Gaowang in Jiangsu Road Network, combined with its own technological research and innovation capabilities, and gradually formed a series of innovative products for information technology applications in smart transportation segments widely recognized by customer markets and industry authorities. In the process of smart transportation business operation, combined with the characteristics of electronic toll collection system, operation management system and other businesses, the company has established capital cooperation relations with China UnionPay, SAIC, Nantong Transportation Group and Tencent enterprises, and made use of the qualification advantage of China UnionPay to operate a national inter-bank clearing network to form strategic cooperation in ETC inter-provincial business, cross-scenario payment and settlement, and play a synergistic effect; Take advantage of SAIC’s market share in passenger cars, integrate resources in ETC business, big data cooperation and smart transportation, and play a synergistic effect; With the help of Tencent’s hundreds of millions of user resources, traffic resources and rich scene resources, we will promote the construction of ETC payment operation platform and enhance the ability of payment and supporting services in off-highway scenes such as smart parking, non-inductive refueling and commercial logistics; Using the advantages of Gaodeng Technology in ETC user service, ETC scene construction and electronic bills, we will build a smart service platform for Jiangsu expressways and improve the level of expressway operation and management.

At the same time, the company has established in-depth cooperative relations with (), China Telecom, China Unicom, Huawei Technologies, Hikvision, (), () and other product and service providers, laying a foundation for the company to continue to consolidate its position in the industry and expand its industrial cooperation ecology. Among them, we set up a joint venture with Jinyi Technology, a leading enterprise in ETC equipment production, to further strengthen cooperation in technological innovation and application such as parking, refueling and charging, and accelerate the implementation progress. In addition, the company has established good and close cooperative relations with more than ten financial institutions, such as Industrial and Commercial Bank of China, Bank of China, China Construction Bank, etc., to further promote the integrated development of consumption scenarios and financial services, and enhance the depth and breadth of the company’s services in the "transportation+"field.

(D) Management advantages

Through years of reform and development, the company has established a complete and effective management system and mechanism, the governance structure is more perfect, the decision-making mechanism is more efficient, the market-oriented selection and employment mechanism is more flexible, the market-oriented incentive and restraint mechanism is more perfect, and the kinetic energy of scientific and technological innovation is effectively stimulated. At present, the company has a professional, mature and stable core team with rich industry experience, technical experience and management experience, which can seamlessly connect the whole process of customer demand, product design, R&D and maintenance services, and has excellent business execution and product realization capabilities. The company’s R&D team has always followed the forefront of industry and technology development, followed the direction of industry development, and constantly learned from industry development, integrating advanced product development and design ideas into the company’s products, providing solid support for the company’s development.

With regard to the reform of state-owned enterprises, the company is the first batch of "national science and technology reform demonstration" enterprises recognized by the Office of the Leading Group for the Reform of State-owned Enterprises in the State Council, the first batch of eight "comprehensive reform pilot enterprises" by the State-owned Assets Supervision and Administration Commission of Jiangsu Province, and the "mixed ownership reform pilot enterprise" by the Development and Reform Commission of Jiangsu Province. By the end of 2022, the company had achieved many reform achievements: it became the highest national "benchmark" enterprise in the reform evaluation of "Demonstration Action of Scientific Reform" in 2022 by the State Council State-owned Assets Supervision and Administration Commission, which was another honor after the company’s "Demonstration Action of Scientific Reform" was evaluated as an "excellent" enterprise by the State Council State-owned Enterprise Reform Office in 2020 and 2021. The practical results of the company’s "Science and Technology Reform Demonstration Action" reform were selected as excellent cases of the State Council SASAC; Three-year action cases of state-owned enterprise reform were selected into the Compilation of Typical Cases of Three-year Action of State-owned Enterprise Reform compiled by Jiangsu SASAC, and the reform case "Market-oriented Transformation+Technology Empowerment" was selected into the excellent case of Jiangsu SASAC’s "Enlightenment from Top Students in State-owned Enterprise Reform".

IV. Prospects for the future development of the company

(A) the future development strategy

In order to give full play to the role of "chain owner" enterprises in the digital economy, deepen the reform of state-owned enterprises, strengthen scientific and technological innovation, optimize business structure, expand business scale, lay out markets outside the province, and make every effort to build first-class enterprises in the digital transportation field, the company put forward the "1355" digital economy development strategy.

"1": Anchor a target. Make every effort to build the company into a well-known and industry-leading smart transportation industry Internet enterprise in China.

"3": Focus on the positioning of the three quotients. Build the company into a dynamic supplier in the field of smart transportation, an influential operator in the field of industrial Internet, and a competitive service provider in the field of smart car life.

"5": Create five innovative highlands. Form a major alliance, expand the "friend circle" of scientific research cooperation, and create an ecological highland of scientific research cooperation; Build new infrastructure, promote the digital transformation and intelligent upgrade of expressway network, and create an innovative highland of key core technologies; Improve the new governance, relying on the digital management platform of the whole process of cloud products, and build a demonstration highland for digital transformation of enterprises; Cultivate new services, create an integrated road network information service platform, and create an experience highland for public digital travel; Develop new formats, cultivate the "digital factor market" in the transportation field, and create an industrial highland for the commercialization of data assets.

"5": Build a "five-chain integrated" industrial system. Build a "excellent quality" smart product supply chain and build an industry-leading smart transportation product research and development platform; Establish a road network operation service chain that is "at the lower end of the cloud" to provide industry-level solutions for the smooth service of the national road network; Build the ETC comprehensive ecological chain of "wisdom road benefiting people" and create a "smart car life" scene with one card and multiple functions; Build a "smart interconnected" digital transportation industry chain and form a digital intelligent transportation industry system; Extend the business value chain of "capital empowerment", optimize the allocation of market resources by using capital market forces, and feed back the development of digital industry.

Adhering to the development vision of "making transportation smarter and life better", the company focuses on the main business direction of smart transportation and digital economy, strengthens scientific and technological innovation, and constantly strengthens its core competitiveness to enhance its intrinsic value. It will build the company into a well-known and industry-leading smart transportation industry Internet enterprise in China and strive to repay investors with better performance.

(two) the business plan for the next year

1. Take the road of innovation and build the "digital core" of original technology.

First, explore product research and development based on cutting-edge technologies such as blockchain, artificial intelligence, cloud computing and digital twinning, carry out the construction of original technology sources, and provide original, practical and subversive scientific research achievements and academic, theoretical and guiding scientific research programs for the development of digital economy. The second is to focus on the traditional mode of transportation operation management, management difficulties and industry pain points, provide platform-based overall solutions, enhance the full-stack product capability of smart transportation, and promote the intelligent upgrading and digital transformation of transportation infrastructure. Third, around the construction of the standard system, actively participate in the preparation of technical and business rules and the construction of the standard system by the competent departments of the Ministry of Transport and other provincial local departments, and contribute to the "Jiangsu Standard" and "Jiangsu Plan" to promote the healthy development of the industry. Fourth, around the construction of the intellectual property system, accelerate the research and development of independent technologies such as inventions, designs and software works, and achieve a high growth of all kinds of intellectual property rights in 2023.

2. Help "industry change" and strengthen the "digital infrastructure" of intelligent upgrading.

First, speed up the construction of provincial "computing power network". Through the "triple play" project, the "one cloud and multiple networks" architecture is upgraded to "one network is cloudy" architecture, and the "cloud network integration" architecture is optimized to "computer network integration" architecture. The second is to speed up the construction of "free cloud charging solution". Focusing on the "toll robot", the whole station family design is implemented, and the "free-flowing cloud toll solution" is provided to improve the overall adaptability of the toll station’s functional appearance, provide the overall solution for the free-flowing toll of expressways, and strive for the full coverage of networked expressway toll stations in Jiangsu Province. The third is to lay out the "AI video analysis cloud control platform". Accelerate the construction progress of video encryption project, and improve the emergency response and active early warning capability of road network. The fourth is to explore a new economic model of "digital+media" and promote the deep integration and development of the digital economy industry. The fifth is to explore the construction of data factor market. Relying on the "computing power network", the circulation link of data elements is opened to realize the unified scheduling and collection of multi-platform data resources. Improve the processing and processing capacity of data resources, strengthen the development and utilization of data elements, and accelerate the value and commercialization of data elements.

3. Follow the "development trend" and draw an "industrial map" that lays out the whole country.

First, speed up the nationwide distribution of ETC distribution business. Through internet distribution, cooperative channel agent distribution and new model of automobile front loading, we will vigorously develop new ETC users, tap the market potential and lay out the future market under the pressure of stock market space. The second is to accelerate the development of ETC ecological business. Implement ETC smart parking "lighting" project, and vigorously promote the "urban static traffic integrated management and control platform" with electronic fence technology as the core. Accelerate the ETC refueling business, strengthen cooperation with energy enterprises, and form a market layout of "comprehensive promotion of expressway operation and management units in Jiangsu Province and vigorous development of the national market". The third is to give full play to Baoyi Technology’s location advantage as a window city of reform and opening up, strengthen the R&D, manufacturing and marketing network system construction of intelligent hardware products, and establish a product sales network based on Greater Bay Area, integrated into the Yangtze River Delta and radiating all over China. The fourth is to give full play to the first-Mover advantage of products such as "Video Cloud" and "Dispatching Cloud" in the market application outside the province, accelerate the promotion of innovative products such as "New Digital Science" and charging robots outside the province, and export practical, useful and easy-to-use products and solutions for industry users across the country.

(III) Risks that the company may face

1. Risk of policy change

With the sustained and rapid development of China’s economy, the demand for residents’ life and travel is increasing day by day, and the smart transportation industry has developed rapidly. Since the State Council’s "Government Work Report" in 2019 proposed that the provincial toll stations of national expressways should be basically abolished within two years to realize fast toll collection without stopping, the State Council, the National Development and Reform Commission and the Ministry of Transport have successively issued a series of policies to encourage the related construction of toll collection without stopping, creating a good environment for the rapid and healthy development of enterprises in the industry.

Although the medium-and long-term planning of the country has clearly focused on the development of the intelligent transportation industry, and the supporting policy of the country for non-stop charging has a strong practical basis and social needs for a long time, if the government’s supporting policies for intelligent transportation related fields, especially ETC technical routes, are adjusted or the pace of implementation is uncertain in the future, the company’s operating performance will be affected to some extent.

In view of the above risks, the company will pay close attention to policy changes, strengthen strategic layout, optimize business structure, increase R&D investment and scientific and technological innovation, actively expand new commercial application fields and business models, enhance the company’s anti-risk ability and sustainable development ability, and maintain its leading position in the industry.

2. Industry competition intensifies risks.

In recent ten years, with the continuous improvement of informatization level, the continuous efforts of industry enterprises and the great attention of government departments, the technical level of China’s intelligent transportation industry has made great progress. As one of the important fields of intelligent transportation, the ETC sub-sector is becoming more and more market-oriented, and the market competition pattern is in a stage of rapid change. At present, the company is the only authorized ETC issuer in Jiangsu Province. Although it has established a perfect online distribution channel and can realize nationwide ETC issuance, it has not yet established an offline ETC issuance service network outside Jiangsu Province. Due to factors such as local car owners’ habit of choosing to handle ETC business in their permanent residence, there is still great competitive pressure for the company to handle ETC issuance business outside Jiangsu Province. If there are major changes in the future industry policies, industry norms and market competition pattern, the company’s ETC issuance and sales market share is at risk of being seized by competitors.

In the field of intelligent transportation business, although the company took the lead in developing a series of products such as cloud control platforms in the industry, which have the first-Mover advantages in products and services and have a high market share, on the one hand, there are companies engaged in similar businesses in all provinces, which have certain market resources and regional service advantages in the local area. In the future, with the improvement of technology and service capabilities of such companies, the company will face greater market competition when further exploring the national business market; On the other hand, the relatively high profit rate of the smart transportation industry also attracts other enterprises to enter the industry through infiltration, merger and reorganization, industrial transformation, etc., including super-large enterprises such as Ali, Tencent and Huawei technologies. In the future, the company will have the risk of intensified competition in the industry.

In view of the above risks, the company will seize the strategic opportunities of digital economy countries, strengthen industry research and market insight, use the deep understanding of smart transportation industry and business, improve the accuracy of understanding user needs and the foresight of market trends, give full play to the advantages of technological innovation, enrich product development matrix, and provide customers with all-round solutions; Improve the marketing promotion system, vigorously expand the national product market, expand brand influence, consolidate and increase market share, and enhance market comprehensive competitiveness; Strengthen industry exchanges and technical cooperation, actively build a diversified ecosystem of partners, and build a "moat" with strong R&D and innovation capabilities.

3, technology update risk

The development of intelligent transportation industry needs to effectively integrate advanced information technology, data communication and transmission technology, electronic sensing technology, electronic control technology and computer processing technology on the basis of perfect infrastructure, so as to establish a real-time, accurate and efficient intelligent transportation operation and management system that plays a role in a wide range and in all directions. This industry has the characteristics of fast technology update. If the company can’t accurately grasp the technology development trend of the industry and follow up the direction of technology research and development in the future, or the speed of product research and development can’t match the demand of the industry and competent departments for technology update, the company’s market competitiveness and sustainable development will be adversely affected.

In view of the above risks, the company will pay close attention to the dynamic development of technologies in emerging fields, dynamically optimize and adjust the technology planning and research and development direction of new technologies according to the changes in market demand and technology development, strictly manage the research and development and application process, and strengthen the collaborative development workflow of technologies and products; At the same time, the company will continue to increase investment in R&D, strengthen the construction of technical personnel, introduce outstanding technical personnel and integrate internal R&D forces, improve the incentive mechanism for R&D personnel, actively promote the transformation of technological R&D achievements, maintain the overall leading edge of technical teams, and consolidate the leading position in the industry in major business-related technologies.

V. Analysis of Main Business

cash flow

(1) Cash flow analysis of operating activities

In 2022, the net cash flow generated by the company’s operating activities was-126,097,200 yuan, compared with 6,745,600 yuan in the previous year. The smart traffic electronic toll service business that the company is engaged in is to provide toll clearing and settlement services for expressway management units, that is, the company collects expressway tolls from car owners and users, and pays the money to expressway management units according to the settlement cycle. The amount of such funds is large, and the amount of payment received is reflected in the cash flow of operating activities and other cash flows related to operating activities. Due to certain fluctuation in the amount of split tolls payable due to the interval between the settlement date of split tolls at the end of each year and the balance sheet date, the amount of split tolls payable at the end of 2022 is lower than that in 2021, so the net cash flow from operating activities is negative, and this kind of business does not affect the actual business of the company. Therefore, the cash flow generated from operating activities is deducted from the collection and payment and clearing tolls for analysis. In 2022, the net cash flow from operating activities was 117,208,000 yuan, down by 111,666,100 yuan compared with the previous year (228,874,100 yuan), mainly due to the salary increase in 2022, when the total salary paid increased by 42,482,900 yuan compared with that in 2021, and the subsidy received was compared with that in 2021.

(2) cash flow analysis of investment activities

In 2022, the net cash flow generated by the company’s investment activities was-764,856,000 yuan, and the cash flow generated by the company’s investment activities mainly included the purchase and redemption of structured deposits and the purchase of three-year certificates of deposit. The net amount in 2022 was-764,856,000 yuan, and the negative amount was mainly due to the fact that the three-year certificates of deposit purchased in 2022 had not expired.

(3) cash flow analysis of financing activities

In 2022, the net cash flow generated by the company’s fund-raising activities was 1,013,524,700 yuan. In 2022, the company raised 1,046,613,800 yuan through the listing of A shares. The cash outflow from the company’s fund-raising activities was 33,089,100 yuan, of which 6,089,200 yuan was paid in cash by distributing dividends, profits or paying interest, which was the dividend paid by the company’s subsidiaries to minority shareholders in 2022; Paying other cash related to fund-raising activities of 27 million yuan, which is the issuance fee generated by this public offering of shares and the lease fee for the right to use assets.

Reasons for the significant difference between the net cash flow from the company’s operating activities and the net profit of this year during the reporting period: The main reason for the significant difference between the net cash flow from the company’s operating activities and the net profit is the impact of changes in operating receivables and payables. The company received other cash flows related to business activities and paid other cash flows related to business activities on a large scale. The others received were mainly prepaid recharge of ETC stored value cards collected by various cooperative institutions, consumption of ETC charge cards and money collected through mobile payment, and the others were mainly settled through ETC and mobile payment.

Hello, everyone, I’m Brother Hao! Today, let’s talk about Geely’s "closed eyes" magic cars. What do you mean, close your eyes? That is to say, even if you close your eyes and pick one casually, you won’t regret it Don’t believe it? Then let’s take a look at the magic of these six cars owned by Geely!

Geely Emgrand, from the first model to the market in 2009, is now the fourth generation. In the past 14 years, it has proved its strength with the sales of more than 5 million vehicles. This is not only a number, but also the trust and love of countless families for Emgrand. The fourth generation of Emgrand, the face value, is definitely at the forefront of the trend; The interior is also brand-new, and the sense of technology is bursting. It’s economical, fuel-efficient and durable, and it’s simply a model of a family car. Hao Ge thinks that the distinguished model is the most suitable one, and the total amount will be more than 70,000. The 1.5L engine is equipped with CVT gearbox, which is smooth and fuel-efficient, and the daily transportation is simply not too cool!

Xingrui, with a large wheelbase of 2.8 meters, is surprisingly spacious; Based on Volvo CMA platform, the quality is guaranteed; It is also equipped with an 8155 chip, and the smart experience is directly full. In appearance, Xingrui is the kind of handsome and unforgettable; The interior configuration is also full of sincerity, and the power control is even more unnecessary. The speed is fast and the chassis is stable. It is called a good drive. Hao Ge selfishly recommended the 1.5T Kunlun version, and the full landing did not exceed 115,000, which is cost-effective, simply!

Last year, Binyue was the sales champion in the SUV market below 100,000, with an average monthly sales of more than 10,000 vehicles. This appeal is not built! Binyue’s appearance is fashionable and dynamic, the interior design is also young and energetic, and the configuration is dazzling. Especially the 1.5T Longteng version, with abundant power and low fuel consumption, the key is that the price is close to the people, and the landing is less than 90,000, which is simply tailor-made for young people who have just entered the society!

The new Bo Yue and the new Bo Yue L, both of which are based on CMA architecture, have pure pedigree and guaranteed quality. It is comfortable to drive without losing sports performance, and it is simply a model of family car. Moreover, they all come standard with 8155 chips and Geely Galaxy OS 2.0 system, which are only available in 300,000-class cars. They fly smoothly when used, and there are countless apps and applets, which is simply the "king of volume" in the smart car industry. The new Bo Yue L has raised the sense of luxury to a new height, which makes people shine both in design and configuration. Which of these two cars is not the best in the 100,000-class domestic SUV?

Geely Xingyue L, a masterpiece of benchmarking medium-sized SUV. The wheelbase of 2.9 meters, sitting in it is called a spacious; 2.0T engine and Aisin 8AT gearbox make the power output smooth and strong, and drive as steady as an old dog. Moreover, it is also equipped with 8155 chips and a series of intelligent configurations, and the intelligent experience is not discounted. Some people jokingly call it "Volvo XC40 with a new bid", which is a bit exaggerated, but it shows its extraordinary quality. Friends who like medium-sized SUVs, don’t miss it!

Ok, brother Hao, that’s all for today. Each of these six Geely cars is carefully selected, and you don’t blink when you close your eyes. They not only represent Geely’s car-making strength, but also epitomize the rise of domestic cars. So, which one do you like best? Come and leave a message in the comment area and tell Brother Hao. Let’s talk together!