numerical statement(statistical report forms) is a survey method that provides basic statistical data step by step from top to bottom in accordance with the survey requirements and documents (indicators, table forms, calculation methods, etc.) uniformly stipulated by the state.

　

It is one of the methods for the state to obtain the basic statistical data of the national economy and social development of the whole society on a regular basis. This survey method was formed under the central planning management system in the past, and it still plays a certain role in the regular survey of official statistics. Among them, according to the scope of submission, statistical statements can be divided into comprehensive statements and non-comprehensive statements: comprehensive statements require every unit in the survey object to fill in, while non-comprehensive statements require only some survey units to fill in; According to the submission cycle, statistical reports mainly include monthly reports, quarterly reports and annual reports. Monthly reports are simple and timely, while annual reports are comprehensive.

　

The contents of statistical reports include the following aspects:

　

(one)Table type It is a statistical report form specially designed and formulated by the national statistical department according to the task and purpose of the research, which is used to collect statistical data. It is the main body of the statistical report system.

　

(2)Instructions for filling in the form. It is a regulation on the statistical scope and indicators of statistical tables. Specifically, there are: the scope of reporting, the interpretation of indicators, the classification catalogue, and other relevant provisions.

　

For large-scale and state-owned enterprises, collecting data with statistical reports has the advantages of fast time and low cost; However, for a large number of small, non-state-owned economic units, it is difficult to fully use statistical reports for investigation. Which of the above methods should be adopted specifically depends on the purpose and task of the survey and the characteristics of the respondents.

B5.2 supplier management methods

one

Guide the original text

Describe the practices of hiring suppliers, the number of suppliers to whom the practices are implemented, and the implementation and monitoring methods of the practices.

two

Index interpretation

This indicator is a key performance indicator, and the disclosure requirement is "explain if you don’t comply", which will take effect in the fiscal year starting on or after July 1, 2020.

For the definition of "supplier", please refer to the index definition of "B5.1 number of suppliers".

three

benchmarking

The ESG Guidelines of the Stock Exchange, ISO 26000 and GRI Standards all include the main contents of enterprise supplier management methods. ESG Guidelines focus on the disclosure of the practices of employing suppliers, the number of suppliers implementing relevant practices, and the monitoring methods of implementing relevant practices. ISO 26000 focuses on the main measures taken by enterprises to promote social responsibility in the value chain. GRI Standards focuses on the disclosure of enterprises’ identification and management measures of direct or potential risks to suppliers in terms of environment and human rights. For the contents disclosed in accordance with ESG guidelines, please refer to the disclosure items GRI 308-1, GRI 308-2, GRI 412-1 and GRI 412-2.

Table B5-2 Benchmarking Analysis of Key Performance Indicator B5.2 with ISO 26000 and GRI Standards

four

Key points of management

This indicator reflects the responsibility of enterprises to suppliers. The implementation of responsible procurement by enterprises is helpful to manage the environmental and social risks of suppliers, and it is convenient for external stakeholders to understand the procurement methods and principles of enterprises and the procurement situation in areas with high social responsibility risks.

● In order to implement the supplier management policy, enterprises can establish a supplier social responsibility evaluation and investigation mechanism based on the quality and environmental evaluation system, and establish a supplier social responsibility evaluation index system according to the requirements of the access terms.

● Enterprises should jointly improve the social responsibility level of suppliers through auditing, training, counseling and other activities, and take active measures to encourage suppliers to fulfill their social responsibilities.

● Enterprises should evaluate suppliers’ performance of social responsibilities in quality, environment and society in daily management, and regularly evaluate and review suppliers’ performance of social responsibilities by means of self-inspection or entrusting a third-party organization, and the review results can be used as an important basis for supplier selection, order increase, rewards and punishments.

five

Disclosure suggestion

Enterprises should disclose the management points of implementing responsible procurement in the report, including the implementation and evaluation methods of supplier management mechanism. Enterprises that produce or operate in high-risk areas of social responsibility should focus on the disclosure of this indicator, supplemented by written explanations when necessary, so that external stakeholders can understand the procurement situation of enterprises in high-risk areas of social responsibility.

six

Typical case

Source: Canon (China) Corporate Social Responsibility Report 2019-2020 P42.

Canon (China) Corporate Social Responsibility Report 2019-2020 reveals that Canon (China) has formulated a supplier management process that integrates the concept of social responsibility, including key links such as supplier development, supplier cooperation selection, supplier cooperation transaction, supplier performance evaluation, etc., to promote suppliers to continuously improve their own management capabilities and provide strong support for forming an efficient, stable and sustainable "Canon-style supplier team".

For more information about ESG guideline interpretation and application sharing, you can pay attention to Golden Bee Micro Store and purchase the latest edition of ESG Indicator Management and Information Disclosure Guide to get the latest and most referential professional interpretation and experience sharing.

Text | ESG Research Group

Recommended reading

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ESG Observation 23 | Decoding Disclosure Points of Localization Procurement ESG Observation 22 | Strictly investigate and punish, and raise the banner of labor standards

ESG Observation 21 | How do enterprises avoid employment risks? ESG Watch 20 | How do companies disclose employee training hours? ESG Observation 19 | How to Make the Best Use of People’s Talents ESG Observation 18 | How to Overcome the Challenges to Health and Safety

ESG Watch 17 | How Enterprises Improve Health and Safety Performance

ESG Progress Watch 16 | Occupational Health and Safety Related Information

ESG Progress Observation 15 | How to Look at Enterprise’s Human Capital Policy from Employee Turnover

ESG Observation 14 | Decoding the Disclosure Points of Enterprise Diversification and Inclusion

ESG Watch 13 | How do enterprises analyze and respond to climate change risks?

ESG Watch 12 | How can enterprises reduce their environmental footprint?

ESG Observation 11 | How to manage product packaging materials?

ESG Observation 10 | How do enterprises manage water resources?

ESG Watch 09 | How to Improve Energy Efficiency?

ESG Observation 08 | How do enterprises disclose water consumption and demonstrate resource saving practices?

ESG Observation 07 | How to Manage Enterprise Energy?

ESG Watch 06 | How can enterprises reduce waste?

ESG Watch 05 | Has the enterprise set the emission reduction targets for gas pollutants?

ESG Observation 04 | How do enterprises manage harmless waste discharge?

ESG Observation 03 | Is the enterprise’s hazardous waste emission management good?

ESG Observation 02 | What are the data related to greenhouse gases?

ESG Observation 01 | How do enterprises disclose exhaust emissions?

This article first appeared on WeChat WeChat official account: Golden Bee. The content of the article belongs to the author’s personal opinion and does not represent Hexun.com’s position. Investors should operate accordingly, at their own risk.

Go to Hongkong, go to Xinjiang, deliver an important speech at the opening ceremony of the special seminar for leading cadres at the provincial and ministerial levels, attend and deliver an important speech at the Central United Front Work Conference, preside over the the Political Bureau of the Communist Party of China (CPC) Central Committee Conference and the symposium of non-party people, analyze and study the current economic situation and economic work, write back to the old experts of the National Museum of China, talk with the first foreign head of state to visit China after the Beijing Winter Olympics, make a phone call with the President of the United States, and send congratulatory messages to presidents of many countries and forums … July of the Supreme Leader General Secretary.

央视网《中南海月刊》运用智能大数据，梳理最高领袖总书记七月重要活动与讲话，与您一起领悟新时代新征程上大国领袖的家国情怀和擘画运筹。

央视网I学习数据库汇总分析了最高领袖总书记2022年7月的重要讲话，“发展”“香港”“文明”等词语出现频率位居前列。

二十五载，岁月如歌。历经了风风雨雨的香港，如今已实现由乱到治的重大转折，正处在由治及兴的关键时期。在香港迎来回归祖国25周年之际，最高领袖主席时隔五年再次踏上这片他深情牵挂的热土。

7月1日上午，站在25年前中英两国政府香港政权交接仪式的举行地——香港会展中心，习主席言语铿锵：“‘一国两制’是经过实践反复检验了的，符合国家、民族根本利益，符合香港、澳门根本利益。”“这样的好制度，没有任何理由改变，必须长期坚持。”“把香港特别行政区管治权牢牢掌握在爱国者手中，这是保证香港长治久安的必然要求，任何时候都不能动摇。”

“‘一国’原则愈坚固，‘两制’优势愈彰显。”在庆祝大会上，习主席的讲话有的放矢，就如何全面准确贯彻“一国两制”方针阐明原则，在香港社会引发极大共鸣，为关键时期的香港发展指明方向。

700多万香港同胞的民生福祉，是习主席心中不变的惦念：“当前，香港最大的民心，就是盼望生活变得更好，盼望房子住得更宽敞一些、创业的机会更多一些、孩子的教育更好一些、年纪大了得到的照顾更好一些。”

习主席对新一届香港特别行政区政府提出要求：“拿出更果敢的魄力、更有效的举措破难而进，让发展成果更多更公平惠及全体市民。”面向未来，殷殷嘱托彰显为民情怀。

泱泱中华，历史悠久，文明博大。7月日程里，记录下总书记尊崇历史、重视中华优秀传统文化传承与人类文明互鉴的深深印记：回信嘱托国博老专家：“守护好、传承好、展示好中华文明优秀成果”；向“意大利之源——古罗马文明展”开幕式致贺信，表达“推动文明交流互鉴，促进民心相连相通”的意愿；在新疆维吾尔自治区博物馆，强调中华文明是“由各民族优秀文化百川汇流而成”；在固原巷社区嘱托：“中华优秀传统文化教育抓早抓小”……

Chinese civilization is bright and vast. The entrustment of strengthening cultural self-confidence and enhancing national pride permeates the words and deeds of the general secretary in governing the country, and injects ideological strength into the inheritance and development of Chinese excellent traditional culture.

CCTV’s "Zhiwen" system extracted and analyzed the hot news of the whole network in July 2022. The general secretary’s investigation and research in Xinjiang attracted much attention, and the related topics such as "Supreme Leader: Xinjiang is no longer a remote area, but a hub area", "Looking at the party’s strategy of governing Xinjiang in the new era from the general secretary’s trip to Xinjiang" and "What did the top leader focus on?"

After four days of investigation, I went out in the morning glow and returned by the stars, visited three cities, nine inspection sites, attended a briefing and seven meetings … The trip of the General Secretary to Xinjiang after eight years was intensive.

As a multi-ethnic area, social stability and long-term stability in Xinjiang are related to the overall situation of national reform, development and stability, the reunification of the motherland, national unity and national security, and the great rejuvenation of the Chinese nation. The general secretary is very concerned about this place, and it is of great significance to focus on Xinjiang before the 20 th National Congress of the Communist Party of China. Visiting universities, communities, museums, rural areas, etc., the general secretary talked about national unity at several inspection points. He said: "National unity is the lifeline of the people of all ethnic groups in our country." "We should cherish the excellent situation of stability and unity, and 56 ethnic groups are twisted into a rope."

边疆稳，国家安。“各民族大团结的中国一定是无往而不胜的。”看到天山南北一派安定祥和、蓬勃发展的新气象，总书记感到由衷高兴：“经过各方面艰苦努力，现在新疆大局稳定，这个成绩来之不易，要倍加珍惜。”坚定的话语，殷切的嘱托，暖人心田，催人奋进。

下半年首月，“最高领袖同印度尼西亚总统佐科会谈”“最高领袖同美国总统拜登通电话”等话题也备受关注。

当今世界正进入新的动荡变革期，面对变乱交织的世界局势，习主席同印尼总统佐科会谈，确立共建中印尼命运共同体这一大方向，为推进全球治理提供东方智慧，贡献亚洲力量；应约同美国总统拜登通电话，是中美今年以来第二次元首沟通。在坦率沟通和交流中，习主席掷地有声地就台湾问题阐明了中方原则立场，鲜明强调“维护世界和平安全，促进全球发展繁荣”是中美大国职责所在。

The world is at a new crossroads. The resounding "China Voice" adapts to the development trend of the times, echoes the general demands of the broad masses of people in the international community, and shows China’s feelings and mission.

In the related atlas generated by CCTV I learning database, the cotton and flat peaches in the "related items" column bear the general secretary’s deep feelings for the people.

In the cotton planting base of Nongyilian Company, the eighth division of Xinjiang Production and Construction Corps, the general secretary walked into the field under the scorching sun to observe the growth of cotton and asked growers and agricultural technicians about cotton planting, sales and family income. Not far away is Jiulian Flat Peach Plantation. The General Secretary walked into the depths of Taoyuan and praised the company’s efforts to encourage and support employees to develop planting and breeding, eco-tourism and farmhouse music industries and increase their income in recent years.

In Urumqi international land port area, the general secretary stared at a huge map for a long time. The "Iron Camel Team" followed the road of "hollowing out" in Zhang Qian in the past, crossed the desert and rushed into the Gobi, turning the present northwest border into an open frontier. "It used to be an inland province, but now it is different with the Belt and Road Initiative. It is no longer a remote area, but a core area and a hub area. " Standing at the starting point of the new journey in the second century, the general secretary thinks long-term.

Development is the key to solving problems. "We must deeply understand the close relationship between development and stability, development and people’s livelihood, development and people’s hearts." The general secretary’s earnest entrustment is thought-provoking, and it also carries his beautiful expectation of "enriching the people and rejuvenating Xinjiang"

Those who are good at playing seek potential, and those who are good at planning reach far.

In the second half of 2022, the upcoming 20th National Congress of the Communist Party of China is a major event in the political life of the Party and the country: we should make a macro outlook on the two-step strategic arrangement for building a socialist modern power in an all-round way, and focus on deploying strategic tasks and major initiatives in the next five years.

At the seminar for leading cadres at the provincial and ministerial levels on "Learning the spirit of the important speech of General Secretary of the Supreme Leader and Meeting the 20th National Congress of the Communist Party of China", General Secretary of the Supreme Leader profoundly expounded the work in the past five years and the great changes in the new era in the past 10 years, carefully analyzed the current situation, clearly put forward the important conclusion that "we have successfully promoted and expanded Chinese modernization" and profoundly pointed out that "we must persist in promoting the great rejuvenation of the Chinese nation with Chinese modernization". Facing the future, the whole party is encouraged to "adapt to the situation, cultivate new machines and open new ones with correct strategic strategies" and "always keep awake and firm in" rushing to the exam ".

着眼于下半年经济工作，总书记主持召开中共中央政治局会议，在党外人士座谈会上明确要求“疫情要防住、经济要稳住、发展要安全”，鼓舞大家“保持战略定力、坚定做好自己的事”。

在庆祝中国人民解放军建军95周年之际，向“八一勋章”获得者颁授勋章和证书，参观“领航强军向复兴——新时代国防和军队建设成就展”。习主席鼓舞士气：“再接再厉，锐意进取，埋头苦干，奋力实现建军一百年奋斗目标。”

致力于“画出最大同心圆”，总书记在中央统战工作会议上，引领大家“准确把握新时代爱国统一战线的历史方位”，对发展壮大新时代爱国统一战线作出重要部署，为全面建成社会主义现代化强国、实现中华民族伟大复兴汇聚磅礴伟力。

征途漫漫，一代又一代人接续奋斗，开启复兴伟业新篇。“依靠顽强斗争打开事业发展新天地，最根本的是要把我们自己的事情做好。”总书记的深邃思考和长远擘画为新时代新征程的中国注入无比坚定的前行力量。

With the increasing popularity of the new energy vehicle market, Geely Automobile once again made efforts, and officially opened Geely’s pre-sale on September 14. The pre-sale price is only 78,800, and the price is still what bicycle.

Let’s take a look at the appearance first. Geely Star Wish cleverly blends fashion and cute elements. The rounded body lines and smooth roof contours create a warm and dynamic visual effect. On the front face, the closed grille design highlights its pure electric identity, while the sharp headlights on both sides are like the finishing touch, adding a bit of agility and vitality to the whole vehicle. The body color provides 7 options to meet the individual needs of different consumers.

Although it is positioned as a small car, Geely Star Wish has made great efforts in space utilization. The interior space is well laid out, and both front and rear passengers can enjoy a comfortable ride experience. The trunk space is also spacious enough to easily accommodate luggage items for daily travel. In addition, the car is also equipped with practical configurations such as multiple storage compartments and cup holders, which are convenient for passengers to store small items and drinks.

In terms of power, Geely Star Wish is equipped with an advanced electric drive system, which provides the vehicle with strong power output and efficient energy utilization. The system responds quickly, accelerates smoothly, and performs well in cruising range. At the same time, Geely Star Wish is also equipped with a number of intelligent driver assistance systems, such as automatic parking, lane keeping and other functions, which further enhance the convenience and safety of driving.

Now Geely Star Wish’s pre-sale has been opened, 78,800, now the car is to enjoy 500 to 1500 car purchase discount, which is too exciting, cost-effective, fashionable appearance, practical space and strong power of pure electric car, said is Geely Star Wish ah!

Business Daily News (Correspondent, Yan Qiang, Trainee Reporter, Gu Shuichen) "The experience of driving the new car is very good. I feel that the braking performance and charging speed of the new car have been upgraded." Talking about the new taxi he bought, Ouyang, an old master with more than 20 years of driving experience, was quite excited.

Yesterday afternoon, the theme activity of Hangzhou’s most beautiful taxis helping a better life "Welcome July 1st" and the signing ceremony of the industry party building joint construction and the delivery ceremony of the new car of "oil to electricity" were successfully held. 100 Geely Automobile geometric A model new energy taxis were successfully delivered to the hands of Hangzhou taxi masters.

The "oil-to-electricity" project for taxis in Hangzhou began several years ago. In 2022, Hangzhou proposed that new and updated cruise taxis in the urban area must be new energy pure electric vehicles, and the vehicles should comply with the "Hangzhou Cruise Taxi Vehicle Technical Standards".

In this standard, specific requirements are made for cruise taxi vehicles to use new energy pure electric vehicles, with a wheelbase of not less than 2700 mm, a trunk volume of not less than 400 liters, and a mileage of not less than 400 kilometers under comprehensive operating conditions (except for electric pure electric vehicles).

Two years on, the project is progressing smoothly. The reporter learned that more than 8,000 cruise taxis have been updated in the city, and more than 6,500 in Shangcheng District, Xihu District, Gongshu District and Binjiang District. Hu Huijian, director of the taxi department of the Hangzhou Road Transport Management Service Center, said, "There are more than 14,000 taxis in Hangzhou, and the current proportion of new energy vehicles has exceeded 60%. We expect that in 2027, all cruise taxis in Hangzhou will be updated to new energy vehicles."

In addition to the delivery of new energy vehicles, the event also awarded the 2023 taxi industry "two excellent and one first" recognition to 23 outstanding party members who have achieved excellent results. The Party Committee of Hangzhou Passenger Taxi Industry Association, the Party Branch of Zhejiang Petroleum Company of China Aviation Oil Group, and the Sixth Party Branch of the Municipal Urban and Rural Construction Management Service Center also signed a party building and joint construction contract to gather the power of the charging and replacement industry and the taxi industry, and enjoy the privilege and empower high-quality development.

In addition, on the day of delivery, Hangzhou United Bank also launched the "oil to electricity" special project financial services, which helped transportation companies and car owners to realize the "oil to electricity" renewal and transformation of vehicles.

Chen Jian, a member of the party group and deputy director of the Hangzhou Municipal Transportation Bureau, and deputy secretary of the Party Committee of the Municipal Transportation Industry, said that next, it will also be committed to improving barrier-free travel services, ensuring that more than 500 barrier-free taxis are operated on the road, and further improving the Hangzhou Taxi 95128 hotline.

　　Poly development

　　Low-margin projects reduce performance, and high-priced soil reserves are gradually released.

　　Matters:

　　On January 5, the company released the 2022 performance report, and it is estimated that the company will realize operating income of 281.1 billion yuan in 2022, which is-1.4% year-on-year; The net profit of returning to the mother was 18.3 billion yuan, a year-on-year decrease of -33.2%.

　　Guoxin Real Estate’s point of view: 1) Affected by the decline in gross profit margin and equity ratio of the project carry-over, the company achieved a net profit of 18.3 billion yuan in 2022, which was -33.2% year-on-year. This time, the company’s performance was fully released, and with the large number of follow-up high-quality projects carried forward, it is expected that the company’s performance level will be improved; 2) The company’s sales performance is better than the industry average, ranking second in the industry this year, and monthly sales continue to repair. With the economic recovery and the continuous relaxation of demand-side policies, it is expected that the company’s sales performance will still maintain a good trend in 2023; 3) The company actively responds to the policy and plans to raise no more than 12.5 billion yuan for the construction of 14 projects, which will effectively improve the debt structure and enhance the company’s ability to resist risks; 4) As the leader of central enterprises with stable operation, the company’s short-term performance will not change the company’s high-quality fundamentals. We are optimistic about the company’s long-term value and maintain the "buy" rating.

　　Guangzhou Automobile Group

　　In 22 years, the production and sales exceeded 2.43 million vehicles, and the performance of new energy was strong.

　　Event: The company released the December production and sales express. In December, the output was 200,000 units, down by 25.5% year-on-year and 6.1% month-on-month. The sales volume was 206,000 units, down by 11.8% year-on-year and up by 8.2% month-on-month. The reason for the year-on-year decline of the company’s production/sales in December was mainly due to the high base pressure in the previous period and the impact of the epidemic. Cumulatively, the company’s sales in 2022 reached 2,433,800 units, up 13.5% year-on-year.

　　In terms of brands, Guangfeng was under pressure in December, and the sales volume of Guangben/Guangcheng rebounded. In December, Guangfeng sold 74,000 units, down 24.7% year-on-year and 12.9% quarter-on-quarter, of which 17,000 units were sold by Ralink and 11,000 units by Fenglanda. Guangben sold 58,000 vehicles, down 25.5% year-on-year and up 24.6% quarter-on-quarter, of which Accord sold 25,000 vehicles per month. The sales volume of Guangchang was 38,000 units, up 18.1% year-on-year and 47.2% quarter-on-quarter.

　　In terms of electric vehicles, Ai ‘an’s monthly sales continued to lead. In December, the sales volume of Ai ‘an reached 30,000 units, up 106.9% year-on-year and 4.3% quarter-on-quarter. Among them, Ai ‘an S sold 13,800 units, accounting for 46.1%, and Ai ‘an Y sold 14,300 units, accounting for 47.7%. In 22 years, the cumulative sales volume of Ai ‘an exceeded 271,000 units, up 125.7% year-on-year. In the future, the sales trend of new energy vehicles is generally upward, but due to the price increase caused by the subsidy retreat in early 2003, the sales growth of Ai ‘an is expected to slow down in January.

　　Form an autonomous layout of battery electric drive, and continue to promote electric intelligence. The company established Guangzhou Automobile Ai ‘an Inpai Battery Technology Co., Ltd., and invested 10.9 billion yuan to carry out the industrialization of independent batteries; Ruipai Power Technology Co., Ltd. was established and invested 2.16 billion yuan to carry out independent research and development and industrialization construction of IDU electric drive system. In terms of intelligence, the company released the research and development achievements of the whole vehicle cross-domain standardized operating system Psay OS, the newly upgraded ADiGOSPACE intelligent cockpit system, and the ADiGOPILOT intelligent driving system based on the Spirit architecture, and the new SUV Binzhi of Guangben realized the intelligent upgrade, helping to realize intelligent travel in the whole scene. At present, GAC’s new energy business continues to grow steadily, and the degree of mixing of Chuanqi vehicles continues to increase. We believe that the company’s new energy vehicle sales are expected to continue to grow in 23 years with the gradual formation of the advantages of independent new energy industry chain and the intelligent development of products.

　　Profit forecast and investment suggestion. It is estimated that the EPS in 2022-2024 will be 1.02 yuan, 1.12 yuan and 1.31 yuan respectively, and the net profit returned to the mother will maintain a compound growth rate of 23% in the next three years, maintaining a "buy" rating.

　　Risk warning: epidemic risk; Risk of chip shortage; The risk that the sales volume of independent and joint ventures is lower than expected; The risk that the price increase of raw materials exceeds expectations; Cost control is lower than expected risk.

　　BYD

　　Million-level look forward to the release, leading the brand up.

　　BYD’s "Looking Up" was officially launched, and the SUV looked up to U8 and pure electric supercar U9 were released.

　　On January 5th, () held the brand and technology conference of "Dare to Leap the Star River" in Shenzhen, officially released the brand-new high-end automobile brand "Look Up" and its core technology "Easy Sifang", and simultaneously released two models, namely, look up to the first million-class new energy hard-core off-road U8 and the million-class pure electric performance super-run: U8 will be the brand’s first mass-produced model, with a car length of over 5 meters and a car width of over 2 meters, giving consideration to excellent off-road. U9 is also equipped with an easy-to-square power system, with an acceleration of 2 seconds at zero speed, and adopts an electric intelligent butterfly door to create an extremely safe body structure. We maintain the company’s net profit forecast for 22-24 years at 113.9/212.3/30.62 billion yuan, and adopt the segment valuation method to give the company a target price of 348.40 yuan, thus maintaining the "buy" rating.

　　The brand-new "Easy Sifang" technology platform is equipped with all models as standard.

　　"Easy Sifang" technology is a set of power system with four independent wheel motors as the core, which reconstructs the characteristics of new energy vehicles from three dimensions: perception, decision-making and execution. This technology fully strengthens vehicle safety through a more perceptive electric drive system: after a single wheel has a flat tire, the driving wheel makes a powerful compensation intervention in time to help the vehicle brake stably and controllably; It has good tightness of the car body and cockpit, and can obtain emergency floating ability by virtue of four-wheel independent vector control function. In addition to safety, the highest rotation speed of the platform is 20500rpm, and the horsepower of the whole vehicle is over 1,100 horsepower. The fastest acceleration of 100 kilometers can achieve 2 seconds, and it can realize in-situ U-turn on high-adhesion roads such as asphalt roads. When the steering gear and brake are not working, the braking distance of 100 kilometers less than 40 meters and the agile steering ability of less than 12 meters can be realized.

　　Tengshi, look up to two high-end brands, and jointly promote the company’s brand.

　　In 2022, BYD made a great breakthrough in the mainstream market of new energy vehicles by virtue of the "two-wheel drive" strategy of E platform and DM-i platform, and became the global sales champion of new energy vehicles with annual sales of more than 1.86 million vehicles. The release of Tengshi and brand-new high-end brands fully demonstrates BYD’s cutting-edge technological advantages, which is expected to strengthen the company’s right to speak in luxury markets and high-end markets and enhance brand tonality. Since the beginning of 23 years, BYD’s product matrix of "Dynasty+Ocean+Tengshi+Looking Up" has been formally established, which will fully match the needs of various consumer levels and continue to strengthen brand influence.

　　Maintain the company’s "buy" rating

　　We maintain the company’s revenue and profit forecast for 22-24 years, and adopt the segment valuation method. Based on the 23-year revenue and net profit forecast, we give 1.91 times PS to the automobile business, 2.01 times PS to the rechargeable battery business, and 16.07 times PE to the electronic business, corresponding to a total market value of 1,014.196 billion yuan and a target price of 348.40 yuan (the previous value was 317.16 yuan), and maintain ".

　　Risk warning: the uncertainty of macro-environment throughout the year may affect income; In the future, the competition in the industry will intensify, and the order volume will be less than expected; The fluctuation of upstream materials leads to a sharp increase in costs.