Wednesday, 8 February 2017

Seven Key Technologies Showcased at CES 2017, the World’s Biggest Tech Expo

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(YicaiGlobal) Jan. 5 — The Consumer Electronics Show 2017, the largest annual technology expo, kicked off in Las Vegas, Nevada this evening, with its largest ever number of visitors and exhibitors. Of the 4,000 exhibitors unveiling cutting-edge technologies, a record 1,300 exhibitors are from China.
“At the CES each year, I will get acquainted with several talents engaged in the technological area, whose techniques exert profound influence on people’s lives. At the CES, you can find almost every part of the technological industry that it represents.”said Robert Scoble, futurist, tech guru and chief economist at CTA, which runs the CES show.
Scoble also said some incompetent technologies could also be found among exhibitors. Thus, the challenge now is how to distinguish between potentially popular products from sham technologies that have multiple problems, or may not work at all.
YicaiGlobal’s senior team for science and technology reporting picked seven key technologies from this year’s CES, which may represent the forefront of technological development in the next few years.


Voice control

Voice control and voice-activated digital assistants, which will redefine traditional computer interfaces, will be a major focus of CES this year. There are three leading players in the artificially intelligent electronic butler sector. They are Google Assistant, Amazon’s Alexa and Microsoft’s Cortana.

All three companies are expecting their voice-activated technologies to promote the development of third party products.

Google has decided to display its partnership with UK insurer Aviva through an Alexa speaker, which represents a part of its cloud intelligence. Alexa is the voice activated service that powers Amazon’s Echo, which enables customers to interact with devices in a more intuitive way using their voice.

It plays music and provides information, such as news, sports scores and weather updates. Aviva is testing an insurance jargon buster skill on Alexa, giving users instant, voice-controlled access to a glossary of over 300 insurance terms and their definitions.

OnVocal, a maker of upmarket headphones, will exhibit its wireless headphone that connects to Alexa. GE Lighting also released a circular, tubular lamp compatible with the Alexa Voice Service. Microsoft’s Cortana can communicate with other types of products including a toaster.

Apart from voice control, some startups have embarked on studying gesture or motion control. French startup Bixi will demonstrate a newly designed device which can control smart phones and tablet PCs via hand gestures.

No other breakthrough is more significant than Blitab, a tactile tablet device that is hailed as the iPad for the blind. This technology, created in Austria has small, retractable, raised plastic bubbles in lieu of a keyboard, to convey new double-line dynamic braille.


Modular robots

Humans are still a few decades away from the artificially intelligent cybernetic organisms of science fiction, as seen in The Terminator, Westworld, or Real Humans. CES does however afford the opportunity to see what companies with today’s technology have achieved so far.

Emotech Limited, based in London, is one of them. The company will showcase the Olly robot system. The desktop robot can distinguish between different family members and change the settings according to user characteristics. The project benefited from the assistance of scholars from the University College London, the Imperial College London and the University of Edinburgh, and received an investment of up to USD 10 million from China. Reportedly, a series of modular robots will also be part of the project.

There are several companies supporting the vision of modular robots which will allow users to change the robot’s skills and flexibility by replacing its components. LEGO’s Modi is typical of modular robots. It allows the owner to create robots in small blocks and each automaton different functions such as engines, lights and infrared detectors.


Wearable health devices

Women’s physiology and the pains of conception are a focus of this year’s wearable health technology. Ava, a sensor-equipped wristband, alerts women when they are best suited for conception. Trakfertility is a self-service sperm counting test that can inform the relevant application of alternative methods of increasing the user’s sperm count.

To protect you from drunken liaisons, Milo Sensors offers the world’s first wearable device to measure blood alcohol.

Even if some people will scoff at these devices, analysts expect the field of health science and technology in the next decade to generate tens of billions of USD in market size. The goal is to create a device that resembles the ‘Tricorder’ in Star Trek, an all-in-one device that can diagnose all diseases. There is already an Israeli start-up company that will showcase a small device reminiscent of the ‘Tricorder’.

The company TytoHome aims to allow family members to record readings from the heart, lungs, abdomen and other organs and send them to an outpatient physician. Its slogan is “no need to register to check.”

The health tracker will undoubtedly usher in a new turning point. Although the sales of Apple watches declined, it does not mean that similar products’ market has reached saturation. This Christmas, Fitbit’s application surpassed Apple’s and came out on top, indicating that wearable health equipment is still very popular.

Wair of France takes a different and prudent approach to wearable technology. They invented an intelligent wearable scarf that not only filters the air but also monitors the amount of inhaled pollution per day by connecting it to an app. This product will be very popular if sold in China.

Wair also plan to release the world’s first vibration-guided tight-fitting jeans, with which people can now know which direction to go without staring at their phones. Apart from its application in the health sector, smart wearable equipment has always faced problems in its profit model.


From OLED to QLED TV

Thanks to Netflix’s reshaping of the entertainment industry, television has finally allied with high technology and has therefore won back the audience. Per UBS statistics, subscribers to online pay TV service providers such as AT&T and DirecTV will exceed 15 million by 2020.

Panasonic has hinted that it will show OLED TV at CES, which can better control the contrast of the screen. Sony will also release a similar new product. Although the cost of OLED technology presents an insurmountable obstacle, industry insiders believe it will eventually decline and a very important reason is the participation of Chinese manufacturers.

At the CES, Samsung, which has been at the forefront of OLED, will release the QLED (quantum dot) screen which will make the TV screen brighter. This is very important because due to the popularity of high-dynamic-range (HDR) technology, the image display will be more vivid and detailed, especially in scenes containing bright flashes and shadows.

The next question the industry must answer is whether the digital TV is a replica of today’s television or a completely new animal.


Internet of things consisting of intelligent home appliance

Along with the decrease in the costs and power consumption in the connection between sensors and wireless data, intelligent home appliance has enjoyed a sudden boom. For instance, intelligent trashcan Genican can monitor what you throw away by scanning the barcode on trash and tell you what you need to buy later.

Interestingly, sometimes technologies may make your life easier without much effort. LG unveiled a smart a refrigerator during the show that is equipped with temperature and humidity sensors. If the temperature and humidity hit a certain level, it will activate its sterilizing program to extend the shelf life of food.

This UK-developed intelligent program, linked to cameras is also able to track the shelf life of food stored by the owner, notifying him or her to buy new food when necessary.

The technology could of course be used for nefarious means.

“Though intelligent home appliance is developed upon advanced technologies, consumers still need to ensure that the risks undertaken by them are no greater than the benefits obtained from these appliances. Issues about security and privacy have become a very realistic problem for consumers because to facilitate the data connection, some companies employ no security measures. Thus, users’ data becomes quite vulnerable,” said Rasmus Rasmusson, a Swedish entrepreneur investing in intelligent home appliances told YicaiGlobal 
.

VR and AR

HTC is rumored to release its second-generation Vive virtual reality headset during the expo. The headset will possibly be equipped with wireless functions. However, others speculate the system has not been worked on for nine months and is stuck in development hell.

Huawei is also hoping to release its first VR device at this year’s CES. The company invited Steve LaValle, from Oculus to its VR research and development.

Fove’s product, a crowdfunded VR headset equipped with an eye-tracking function, enables players to shift among controls by eye movements alone. Fove is not the only one attempting to offer new VR interaction approaches for users.

The CES was full of products like a pedal controller guiding the walking movements of your game characters in VR, the T-shirt equipped with sensors to track your body movements and various devices enabling consumers to sense virtual things.

Augmented reality, a technology that mixes up figures and real-world views or imagery is still in its infancy.
Sony and of Facebook’s Oculus also released new devices. Sony is bringing their AR Smart Eye Glass to Vegas.

Asus and other companies are to present the depth sensor technologies of Google and Project Tango, as well as mobile phones equipped with basic AR functions. Intel was full of buzz about Project Alloy, a smartphone enabling users to view their hands and other objects in a virtual reality environment.

The National Basketball Association announced its decision of rebroadcasting games using VR. With their involvement and the popular appeal of the game in China, more consumers of different types of technologies and media will be attracted to VR rather than only tech fiends.

It bears attention which platforms media content suppliers would pitch to when hunting for opportunities in the VR sector.


Automatic drive

Several years ago, the tech tradeshow was jokingly referred to as the CES Motor Exhibition due to the participation of more and more vehicle manufacturers and suppliers.

Since then, automobile manufacturers and tech companies have developed a more symbiotic relationship. With the maturity of automatic driving technology, internet and chip companies also made inroads into the automotive industry.

The trend is even more intense this year. On the main road and other roads in Las Vegas, major vehicle manufacturers had many presentations for self-driving cars including semi-conductor producer Nvidia and BlackBerry QNX.

Competitors including Intel and Qualcomm will release their processors and 5G chips as the potential core of the automatic vehicle revolution. Nevertheless, the unmanned driving technology that substantially enables drivers to forget the steering wheel may still need several years for full development.

The vehicle sector in CES this year is themed as “Finding new ways to interact with your car.” BMW is going to release its HoloActiv Touch system, which enables the driver to interact with figures outside the screen of the dashboard by gesture controls. Continental will demonstrate its face recognition technology to identify drivers. This system will also adjust the position of the rearview mirrors and the seat according to users’ preferences.

Of course, what excites audiences the most is the LeShi invested, mass-produced FF91 electric vehicle presented by Faraday Future before the launch of the event, which will prove to investors that the company is capable to produce a car competent to run on roads before it runs out of funds.

All these technologies are only the tip of the iceberg. There are still many sectors to be showcased in the CES like unmanned aerial vehicles, cosmetology technologies and 3D printing. These sectors bring forth many curious products like the device that can record odors.

Xi Jinping Makes History by Leading Chinese Delegation to World Economic Forum

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(YicaiGlobal) Jan. 11 — Chinese President Xi Jinping will lead the Chinese delegation attending the 47th World Economic Forum in Davos, Switzerland , said Klaus Martin Schwab, founder and executive chairman of the forum in Geneva, which will run from Jan. 17 to Jan. 20.

This marks the first time a Chinese head of state has led the country’s delegation to the event.

British Prime Minister Teresa May will also appear at the forum, media reported. US President-elect Donald Trump will be sworn into office on Jan. 20, so Anthony Scaramucci will attend on behalf of the new US administration. Outgoing President Barrack Obama has assigned a delegation led by Vice President Joe Biden to the forum, US Secretary of State John Kerry will also attend.

Other guests include recently appointed UN Secretary-General Guterres and ministers from 70 countries including the G20. Elite business leaders from over 1,000 companies, including Jack Ma, Alibaba founder, Wang Jianlin, the richest man in China, and Baidu President Zhang Yaqin, will also attend the event.

Alibaba’s Jack Ma is Meeting With Trump About His US Expansion Plans

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(YicaiGlobal) Jan. 10 — US President-elect Donald Trump is meeting with Jack Ma, China’s internet and e-commerce giant Alibaba’s founder right now. They will talk about Alibaba’s latest expansion plan, including creating new jobs in US over next five years, according to CNBC.

Earlier today, a source close to the matter told YicaiGlobal about the meeting. And the two is meeting at Trump Tower in New York.

In his latest interview with US broadcaster CNN, Jack Ma said, President-elect Trump will change his policy to China, despite what he said on the stump in the 2016 Presidential election and in several posts on social media, most notably Twitter.

In a stunning volte-face, Trump revealed the relationship between China and America is very, very important to both the US and China and the whole world.

While Trump sounded protectionist and isolationist trade policies during his election campaign, China’s policy makers and economists were concerned about the potential trade conflict between the world’s two leading economies.

Jack Ma also mentioned that he is looking forward to meet with the new US president when Trump is inaugurated and expressed his desire to talk about trade employment issues.

After the news broke out, Alibaba Group [NYSE:BABA] share price increased 1.16% to 94.98 USD per share during the morning trade session.

LeSee Co-Founder Says He’s Not Leaving Faraday Future

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(YicaiGlobal) Dec. 30 — The co-founder and global chairman of LeSee has said he is not resigning and plans to go on leading the advancement of LeEco’s electric vehicle production plan with his team. His denial comes after a media report said he had quit as head of Faraday Future, in which LeEco has invested.
“Ding Lei, a top executive at Chinese tech giant LeEco and ‘global CEO’ of Faraday Future, has stepped down from overseeing Faraday Future, sources tell The Verge,” the US tech, science and culture website reported yesterday.

The Verge also said that Ding may join NextEV, a start-up electric vehicle company headquartered in Silicon Valley.

“Faraday Future never had an official CEO — the company has gone almost two years without naming one — but sources tell The Verge that Ding helped run things from his perch at LeEco, a major investor in FF,” the report said.

The other day, Faraday Future’s Marco Mattiacci, in charge of global market brands and marketing, and Joerg Sommer, vice president in charge of products and development, confirmed their resignations.

Funding of FF91 Chinese-Super NEV Car Not a Problem in Next Few Months, LeEco’s CEO Says

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Zhou Jiangong


(YicaiGlobal) Jan. 16 — Jia Yueting, the founder of Leshi Internet Information & Technology Corp. [SHE:300104], which trades as LeEco and recently unveiled their super new energy vehicle, the FF91 to great acclaim in Las Vegas, Jan. 3 2017, spoke exclusively to YicaiGlobal’s CEO, revealing funding is to be resolved in a matter of months.
Jia Yueting has made a personal investment into every new product of his company LeEco and is hardwired to prepare for future challenges, including the funding of future ventures and spoke exclusively to Yicai’s Zhou Jiangong of the challenges ahead.
Below is an abridged version of the interview:
Zhou: First, I must extend my congratulations on the warm response to the unveiling of your FF91 in Las Vegas. Any thoughts to share?
Jia: I believe there are many possibilities for the FF91. I would say the release has been very effective overall. Everyone from the US to Chinese media and users now have different perspectives into the trend of next-generation vehicles. The FF91 is a revolutionary highlight of the trend.
Jia: I was impressed by the feedback from a vast amount of people who witnessed the unveiling. They really approve of the product the way it can locate a parking space and reverse itself within a very complicated outdoor environment. Technically, that’s a really demanding task. This feature would be very valuable in the future.
Zhou: You mentioned the word ‘future’. I have a picture in my mind – I envisage a big shopping mall where the parking lot is very crowded, the driver must circumvent this to enter. However, LeEco’s FF91 can orientate itself to get in and find an unoccupied spot. That is a killer feature. Do we have to wait until it comes true? How long until this works in reality?
Jia: Very soon. That function comes with the FF91 manufactured in batches. They will be delivered by 2018. You’ll see that function up and running upon delivery.
Zhou: Did you find any difference between the response of the US and Chinese media in their response to the release?
Jia: I did, indeed, but they both evaluated the product almost on a par. The Stateside-media was more objective, prior to the Jan. 3 unveiling, the US media, especially the mainstream outlets, did not report the story too thoroughly, or in great technical detail, as the FF91 had faced some issues recently. Now that the show is over, I think they have a very objective view about it and hold it in a high regard. They feel the FF91 is a leading product, a game changer in its field. I believe that is a fair view of Faraday Future’s achievements and creativity. The Chinese media gave equally high opinions. Many small media outlets still prefer to report the negatives, but that is immaterial. The facts remain that the product speaks for itself and stands out from the competition in a convincing fashion. We’re still very happy about how the media responded to the release of the FF91 overall.
Zhou: I’ve also read a lot of reports from western media, including the mainstream media and other sources. Apart from those positive responses, I believe it’s true that western media explored the story from the perspective of the technical and from the perspective of the new-energy vehicle industry quite distinct from the way the domestic Chinese media did.
Jia: Yes, that’s true.
Zhou: On the other hand, they raised many questions. The first of two points that struck me is that they doubt the ability of the FF91 to be mass produced.
Jia: The FF91 has reached the criteria for mass production, from research and development to a stage where over 90 percent of it is fixed. This is a very important criterion for mass production.
Zhou: What about funding?
Jia: We aim to solve this problem in a couple of months. I have also constantly invested personally in the FF91 and LeEco is also giving constant assistance.
Zhou: What will you do next to raise funds?
Jia: The next A-Round of funding will be launched soon.
Zhou: Do you hope to get funds from North America or China?
Jia: It will be North America and Europe. China is also being considered.
Zhou: Now, China is tightening up policy on outbound investment. Will that influence your financing in China?
Jia: It may not impact financing very much, however, I will consider it as a factor. So, North America and Europe are my first choices for funding.
Zhou: Are there potential investors approaching you after this release?
Jia: In fact, they are there all the time. Many far-sighted investors are watching the whole LeEco vehicle plan. After our launch on Jan. 3, especially when the crowds saw the test drive, they got a better understanding of the FF91 and LeEco.
Zhou: What kind of investor do you want? And, from what background?
Jia: The first thing is their grasp of the concept. Does the investor really recognize the trend and direction of the development of the automotive industry? Secondly, do they want to invest money or time to promote the reform of an industry that has a hundred-year history? Thirdly, is the investor able to be strategically cooperative? These are all key points when we make our judgement.
Zhou: When people talk about LeEco now, they don’t simply focus on its contribution to the history of the automobile industry. In fact, people focus more on its whole capital chain.
Jia: Yes.
Zhou: Will you pull through the similar problems facing both automobile and smartphone enterprises, as your listed company is also in the same position of seeking financing?
Jia: I think that these difficulties are good stepping stones for the next big leap of the company. So, for LeEco, I think the difficulty with funding will not be a big problem and it will be solved in the coming months. Since the rapid pace of our corporate strategy was in automobiles and smartphones, the latter was still in a period of burning money last year. The automobile industry is still in a state of flux and demanding huge investment, thus we are facing big challenges on financing.
LeEco’s weakest link then was capital organization. So, we adjusted our strategy. First, our price setting policy will change a great deal. We will start to seek the rapid growth of positive cash flow, while maintaining the scaled rapid growth of our user base.
Second, we will slow down those projects which are important but not that urgent.
The third point is very important. We need to rapidly improve the competence of our financing team, to make our organizational ability meet strategic demands. The positive effects will be clear in a couple of months.
Zhou: You are still in a harsh period. You neglected to mention how to solve these difficulties. As an outsider, I think LeEco is in a very unfavorable environment now. To some extent, LeEco’s name, brand and standing have been severely damaged when a name is vital for financing. How do you now turn the tables to raise funds and attract investment?
Jia: Reputation is indeed a primary consideration, but in my opinion, if you are creating value and leading an industry’s progress, this also becomes very important. I believe there are far-sighted investors and those who are willing to drive the progress of this industry and society to make a big exploration and investment with LeEco. Now, there are more far-sighted investors in China than before. I believe that we will meet.
Zhou: We had an in-depth discussion in 2015. I was very impressed by your words at that time. You spoke of why LeEco always challenges itself and spoke of how this strategy may well bring the company down. The current situation LeEco faces reminds me of the saying that the method is always correct if your goal is correct. On reflection, you are doing this against those odds. Would you reconsider this method?
Jia Yueting: Whether we can make it depends on three factors, namely our objectives, method and our capacity to fulfill them, these represent the integral and crucial key factors.
First, I believe the direction, objective and model of LeEco to be correct and through it, a new model for the next generation will be created. Second, I also hold that LeEco is adopting the correct method. Method and capability are dialectical. When your capability is lacking, you will encounter problems even when you adopt the right methods. When you have a very strong capability, then the radical method you employ will have more effect. Thus, we cannot say whether it is right, or wrong, as it is subject to the same constraints.
The problem LeEco faces now is down to its capability, yet if we are capable, then our pace is correct. Of course, we will slightly slow the pace down, to make our method, or objective, match the improvements in our ability.
In the past, we always expected our organization would follow our strategy. But now it can be seen the capacity of some departments have not developed at the same pace, therefore we need to trim our objectives and method to strike a balance.
Zhou: Do you think there is still time to adjust?
Jia Yueting: Yes, absolutely.
Zhou Jiangong: As you are facing financing difficulties at present, are you willing to abandon one or two departments to sacrifice control at this juncture?
Jia Yueting: In fact, control is very important for the whole of LeEco. There are two reasons. On the one hand, LeEco’s approach is very forward-looking and the success of this will be related to the passion and commitment of the entire team, on the other hand, the technological innovation generated from coordination with each department brings about brand new product experience and product values, which is a very important competitive power. Hence, in the overall financing consideration, the right of control is a very important factor for LeEco. If the right of control is lost in some sectors, then coordination within LeEco will be significantly reduced and will have a negative effect on the development and formulation of strategies of the company.
Zhou Jiangong: You can also get a majority-voting right in China.
Jia Yueting: Yes, so in some sectors we can sell a large proportion of the shares, but the controlling right is very important to the entire LeEco ecosystem.
Zhou Jiangong: You will explain it to your investors very clearly, and it is a principle that you stick to, right?
Jia Yueting: Yes.
Zhou Jiangong: Some Chinese Internet companies will get a majority-voting right after going public in the US. Will you set up such a mechanism?
Jia Yueting: I will consider it.
Zhou Jiangong: When we talked about LeEco’s ambition to make automobiles in 2015, you said almost every member of your team objected to such a move. You put your own money in every new field that you aimed at. Do you think you were a little bit capricious?
Jia Yueting: Yes, to some extent, but I must create different things and take greater risks. We have never regretted any major strategic choice we made, nor admitted they were wrong. It’s just a matter of pace and ability, namely how the methods and capabilities better match the strategic needs.
Zhou Jiangong: You also mentioned that you will do what you should at the right time, and then adjust. Even though the probability of failure is as high as 99 percent, we will still try in view of the one percent probability of success. Then, there will be more shares and investments coming here in the future. So, will your words be regarded as irresponsible towards shareholders?
Jia Yueting: When we made such fundamental choices, why did I then choose to fund it with my own money? I did not expect to influence other investors as much as possible, as the risks would be borne by myself. In fact, I will stick to this in the future. LeEco’s corporate nature will bring continuous challenges, both external and internal in its future development, and we will still adhere to this idea. My opinion remains unchanged that, even if we have to take a risk, the consequence should be borne by myself to free our shareholders from similar risks.
Zhou Jiangong: As your personal financing capacity seems to have been stretched out to the max, it is hoped there will be more external funds coming in. Then, though you will maintain your controlling power over the company, other investors also must consider their own financial interests and returns. So, your strategy will change accordingly. How did you get through this dilemma by introducing external financing?
Jia: First, I will reiterate that our strategy will not change, simply that we must change our organizational competence. As I said before to you, about engaging in the automobile industry, with its higher demands, stricter access standards, we now feel thankful for the lessons learned there.
Second, we have seen a significant historical opportunity, the integration of vehicles and the internet, and this may trump Apple’s achievements of integrating television and the internet eight years ago. Due to this, I have always focused on the industrial opportunity of the integration of television and the internet, which brought about our groundbreaking product, the Super TV of our LeTV division. One or two years later, there will be an integration of vehicles and the internet, which will bring a greater boom. So, LeTV is a company meeting such conditions. There are five technological difficulties facing the vehicles of the future – the internet, internet technology, artificial intelligence, the powering of the vehicle and the vehicle itself. The breakthrough in these five respects may bring about a radical innovation in products. If our expectations are realized, LeTV has the capacity to do this job. So why not concentrate our efforts towards this? Then, our staff all began to prepare for the business, and we have made our formative steps early in 2013.
Our strategic partner, Faraday released the car on Jan. 3, and everyone realized that the car is a highly-advanced product and may indeed represent the future trend in the auto industry. This was also our prediction of the car four years ago, which underpinned the entire product development process. It also means that we never make major strategic decisions on impulse. By taking this strategic move, we’ll be able to achieve something that Chinese automakers were unable to do in the past several decades. We’ve created a totally new model…and this is what I always advocated – the fusion of internet-based consumer electronics and the car industry offers a once-in-a-lifetime opportunity for Chinese companies to surpass their European, American, Japanese and Korean competitors. Once we gain an advantage in this field, we’ll be able to change our future.
Zhou Jiangong: I’m curious to know, what is the government’s attitude to this? Because I know that the government is very positive about Chinese companies acquiring foreign automakers. For example, the government offered funding for the acquisition of Volvo. So, what is the government’s attitude toward companies like LeShi?
Jia Yueting: Some forward-looking provinces…especially those run by leaders with great vision…they think highly of Le Shi’s model, and have pledged very strong support. We’re very grateful for this. But Le Shi is a purely market-oriented company, and our relationship with the government is, in truth, not that close. Besides, I’m not very good at networking, so our communication with the government is limited. So, we still want to push forward the development of the FF91 supercar following a purely market-oriented approach, using advanced technology. But I’d still like to thank the Zhejiang government for their support, and the governments in some other provinces. We know that our model has been recognized by the people, so we spared no effort in pursuing our goal. After all, a company must rely on its own strengths. In the auto business, we’ve acquired a substantial amount of resources over the years, and such cumulative acquisition and development of capability in technology are what matters the most.
Zhou Jiangong: So, what you’re saying is that some local governments have agreed to provide you with financial support, but will you use it now?
Jia Yueting: Yes, some governments have pledged funding support, and we’ll consider the proposals so long as the conditions are fair.
Zhou Jiangong: If you had to give up one of the subsidiary businesses of LeEco, when you rank them, would you put the FF91 supercar at the top?
Jia Yueting: All the seven subsidiaries of LeEco are very important. I think we won’t reach a point when we must give up one, as it’s a strategic decision. We’re still very confident that our strategy is highly advanced. We won’t reach that point.
Zhou Jiangong: Do you think good luck has played a part in your success?
Jia Yueting: I don’t believe in luck. Whether a company will be successful is decided by itself. We believe that LeEco can control its own fate.
Zhou Jiangong: As Steve Jobs once said “The people who are crazy enough to think they can change the world are the ones who do”. Some people say that you’re a crook, and some others say that you’re crazy. What’s your comment on this?
Jia Yueting: First, I seldom listen to what others think of me. Whether they say good things or bad things about me, I think they have nothing to do with me. Because we believe, so long as we’re creating something that’s truly valuable to mankind, that’ll be enough. Other people’s opinions will disappear as things gradually evolve in the real world.
Zhou Jiangong: Thank you very much, Mr. Jia. I wish LeEco every success with its endeavors to overcome current difficulties, and to pursue even more ambitious goals.

Jia Yueting: Thank you.