“问个Billion dollar question: 人工智能的商业模式会是什么? ”
Author|Vic
Editor|Wang Bo
Thousands of turns and turns finally became the road, and this road has been going for 12 years.
On April 24, 2024, Mobvoi Co., Ltd. (hereinafter referred to as "Mobvoi") officially landed on the main board of the Hong Kong Stock Exchange with the stock code 2438.HK. HK officially became the "first stock of AIGC".
However, Mobvoi suffered a breakdown on the first day of listing, and the opening price fell by more than 21% from the issue price. As of 12:00 noon, Mobvoi was trading at HK$3.11 per share, with a total market capitalization of HK$4.639 billion.
After completing its Series D2 funding round in September 2019, Mobvoi was valued at about $756 million, which was also its last round of funding before its IPO. At the exchange rate at the time, this valuation was about 5.358 billion yuan, and Mobvoi's latest total market value was about 4.290 billion yuan in RMB terms. That is, there is a small downround.
Under the light of China's "Big Model Five Tigers" (Zhipu AI, Baichuan Intelligence, Dark Side of the Moon, Minimax, and Zero One Everything), Mobvoi's presence in the AIGC field does not seem to be so strong. However, Mobvoi has been working hard in the field of AI for 12 years, and its development to some extent more accurately reflects the real situation of AI commercialization in China.
Mobvoi has experienced the voice interaction software period in the mobile Internet era and the intelligent hardware period in the AIoT era, and in 2020, it opened a new era of large-scale model commercialization with the industry's first AIGC product "Moyin Workshop", and is one of the earliest AI companies in China to deploy large-scale models. Mobvoi has also been strong because it has gone through several AI development cycles, and was once regarded as the epitome of "China's AI history".
Behind this is inseparable from the insistence of Li Zhifei, founder and CEO of Mobvoi. Miss A described Li Zhifei in a conversation with Li Zhifei in 2019: "A rare 'all-rounder' in China's AI industry: soft and hard, C and B, domestic and overseas, technology and e-commerce, he has all done it together - he has encountered all the problems encountered by AI companies you can think of." ”
But this has also given many media a "bad impression" that Mobvoi's core business has "changed again and again". Also in 2019, Miss A asked Li Zhifei: "What is the final form of Mobvoi?" Li Zhifei replied, "There is no ultimate form", and asked rhetorically: "Why is there an ultimate form?"
Perhaps thanks to the endorsement of cornerstone investors such as Zhongguancun and Nanjing Economic Development Juzhi, or perhaps attracted by the name of "the first profitable large model company", investors have shown great enthusiasm for this "AIGC first stock". According to the allotment results announced by Mobvoi last night, it offered 84.568 million shares globally and 42.284 million shares for public offering, of which the public offering was subscribed 117.39 times.
Whether it's over-allotment or a first-day break, market sentiment doesn't tell the whole story. Clearing the "fog" of the secondary market, what kind of company is Mobvoi? Can the story of AIGC be told? "Jiazi Lightyear" will combine the four dialogues between Miss A and Li Zhifei, as well as the business and prospectus of Mobvoi to deeply dismantle this "first stock of AIGC".
1. Three crises of an AI company
The development history of Mobvoi is a history of exploration of AI commercialization in China.
Mobvoi's entrepreneurial journey began in 2012 and has gone through several crises in the past 12 years, but each time it has been able to save the day.
The first crisis occurred in 2014, when Mobvoi, which was still working on WeChat voice assistants, had accumulated four or five hundred thousand users, but its revenue was zero. Just when Li Zhifei and his team were struggling to find a way out, it happened that at Google I/O in 2014, Google released the Android Wear smart watch operating system, so Mobvoi decided to use the watch as the first scene of voice interaction.
At the end of 2014, Mobvoi launched the smart watch operating system Ticwear, and the following year, the smart watch TicWatch was launched. In 2015, Google and Mobvoi reached a strategic cooperation to release Android Wear smartwatches in Chinese mainland, replacing Google's own app store (Google Play) with Mobvoi's voice search and application services (Mobvoi), and in October of that year, Google invested about $50 million to participate in Mobvoi's Series C financing.
Since then, Mobvoi has expanded all the way, and in 2016, TicWatch went to sea, and since then, it has been entrenched in the top 3 of the BestSeller list of smart watches for many years;
In 2017, Mobvoi received $180 million in financing from Volkswagen Group China, and the two parties also jointly established a joint venture company for in-vehicle AI technology, Volkswagen Askoi, which provides in-vehicle AI solutions for Volkswagen Vovoi.
Car voice has opened up a revenue path for Mobvoi, and Volkswagen's investment has also opened a road of rapid expansion for Mobvoi - in 2018, Mobvoi opened 20 new offline smart experience stores across the country, and by 2019, the company has nearly 1,000 people, and has opened up three markets overseas: North America, Europe, and Southeast Asia, each of which is responsible for three complete independent teams.
However, the entry of giants such as Baidu, Xiaomi, and Huawei into smart hardware has dealt a major blow to Mobvoi's business, and at the end of 2018, when Li Zhifei learned from the financial mouth that the company only had 300 million yuan in cash on its books, he realized that the company's second crisis was coming.
As a result, in 2019, Mobvoi began to streamline its business lines, retaining only two product lines, smart watches and smart cars, closing all 20 offline stores, and reducing the company's size from 1,000 to 500 people.
At that time, Li Zhifei was very sober, and he told Miss A: "If we are pure to C and only do it in China, it will definitely be a dead end." To C's smart hardware faces three mountains, including Shenzhen cottages, Xiaomi price butchers, and Internet giants who don't want money. Li Zhifei believes that "first, to B and to C should be done together; second, globalization."
At the beginning of 2020, Li Zhifei and his team, who had just completed a drastic rectification of the business, were preparing to do a big job, and the third crisis, the epidemic, came. So Mobvoi began a new round of exploration of the "second curve", and this time, they found a large model. In June 2020, after the release of GPT-3, Mobvoi also quickly trained a 7B parameter model UCLAI, and at the same time launched an AI dubbing product "Magic Sound Workshop".
"The appearance of GPT-3 in 2020 was a moment of change in my faith. In March last year, Li Zhifei said in a conversation with Miss A.
In 2023, Mobvoi upgraded UCLAI to a universal multimodal large model "Sequential Monkey", whose name comes from the "infinite monkey" theorem proposed by mathematician Émile Borel in the early 20th century, that is, if a monkey randomly taps on a typewriter, given infinite time, it will almost certainly be able to type any text, such as Shakespeare's "Hamlet".
In the face of the question of "Jiazi Lightyear", Li Zhifei never hid his love for his products: "On the night when the new version of 'Sequence Monkey' came out, I chatted with 'Sequence Monkey' until two o'clock in the morning. ”
Mobvoi has further improved the capabilities of the "Magic Sound Workshop" based on the "Sequence Monkey" large model, and has successively launched a number of products such as Wonderful Yuan, Wonderful Question, Wonderful Text, Yanzhihua, DupDub, etc., and has also turned the tide in terms of revenue with the high gross profit of AIGC, taking the lead in achieving profitability among many large model companies.
Mobvoi seems to be a very flexible company – every time they encounter a crisis, they find a suitable solution, and the strategy of entering the big model in 2020 seems even more forward-looking today.
After resolving three crises, Li Zhifei is more relaxed than a few years ago, "There is too much noise now, and I am sometimes driven by emotions. Li Zhifei said to Miss A in March last year: "One thing is certain, for large models, I am all in, but I have to find the most suitable way for myself." ”
Nowadays, Mobvoi has become a company that "combines production and model", that is, it makes both products and models. In past conversations, Li Zhifei pointed out that "the difference between OpenAI is that after GPT-3, it has become very product-driven", while "Google, as a public company, has an unbridgeable gap from algorithm prototype to product launch".
Mobvoi believes that the reason why the "combination of production and model" is so important is that the product has a very important role as a "direction" or "lighthouse" for the model, guiding the direction of the model's research and development. The demand of the product can force the optimization direction of the model capability, and it is easier to test the actual performance of the model capability, and the model is like an engine, providing computing power support for the product to continuously iterate and upgrade through the user data collected by the product, feed back the product, provide a better user experience for the product, and then realize a growing data flywheel.
Judging from the prospectus, Mobvoi's "combination of production and model" model seems to have really helped them increase their revenue and net profit.
2. Is it to seize the outlet, or to go public with bloodshed?
After entering the big model in 2020 and launching a series of AIGC products related to it, Mobvoi's revenue in the past two years has ushered in visible growth, and it will be profitable for the first time in 2022.
According to the prospectus, Mobvoi's revenue is mainly composed of AI software (including AIGC solutions and AI enterprise solutions) and AIoT hardware. Among them, AI software solutions have contributed to this, with the highest revenue and rapid growth in recent years.
From 2021 to 2023, Mobvoi's revenue will be 398 million yuan, 500 million yuan and 507 million yuan respectively, of which the revenue from AI software will increase from 60 million yuan in 2021 to 343 million yuan in 2023, with a compound annual growth rate of 140%, and the corresponding revenue proportion will increase from 15% in 2021 to 67.7% in 2023; The revenue of AIGC solutions from 2021 to 2023 will be 6.822 million yuan, 39.857 million yuan and 118 million yuan respectively, with a compound annual growth rate of more than 300%.
Mobvoi revenue data, image source: Mobvoi prospectus
Although the growth rate of AIGC solutions in AI software is very fast, it is not difficult to find that the majority of revenue is contributed by "AI enterprise solutions".
The "AI enterprise solution" here mainly focuses on "voice interaction". For example, in-vehicle AI assistants for automotive customers, as well as intelligent voice customer service and embedded AI software services for financial and TMT customers. After the launch of digital human products such as Marvel Yuan and Marvel Question in 2023, the digital human customization service for enterprises has also become an important part of Mobvoi's AI enterprise solution revenue.
From 2022 to 2023, Mobvoi's AI enterprise solution revenue decreased from 263 million yuan to 226 million yuan, which Mobvoi explained in the prospectus because "the increase in revenue from the intellectual property arrangement with Automotive Subsidiary A for the sharing of certain copyrights, patents and know-how related to the back-end technology of the automotive voice dialogue system was partially offset by a decrease in revenue from smart devices and other accessories due to the delay in the launch of new flagship products".
By reading the prospectus "Jiazi Lightyear", it was found that Mobvoi established a joint venture with automobile subsidiary A in 2017 - Mobvoi JV, which is mainly engaged in in-vehicle AI technology. It can be inferred from this that the automotive subsidiary A is Volkswagen.
After receiving $180 million in Series D funding from Volkswagen in 2017 and cooperating to form a joint venture, Volkswagen became Mobvoi's largest customer. According to the prospectus, from 2021 to 2023, the intellectual property income from Volkswagen will be 3.2 million yuan, 213 million yuan and 139 million yuan respectively, accounting for 0.8%, 42.6% and 27.4% of the total revenue, respectively. Among them, in 2022, the revenue from Volkswagen will account for 81% of the revenue of Mobvoi's AI enterprise solutions.
However, in June 2023, Volkswagen and Mobvoi "parted ways", and Volkswagen emptied its shares in Mobvoi, which also cast a shadow on Mobvoi's listing at that time. On a half-year basis, intellectual property revenue from Volkswagen accounted for 53% of Mobvoi's revenue in the first half of 2023.
During that period, the vast majority of Mobvoi's AI enterprise solutions came from Volkswagen, and they relied on major customers. In addition to Mobvoi JV, a joint venture with Volkswagen, Mobvoi's top five customers include an affiliate of an American international e-commerce platform operator, a Chinese retailer, a wholly-owned subsidiary of an American international technology group, and a Chinese e-commerce marketing consulting firm, with revenue from these five customers accounting for 24.1%, 42.6%, and 27.4% respectively from 2021 to 2023.
In addition to the B-end business relying on large customers, the decline in Mobvoi's cash flow is also serious.
According to the prospectus, in 2021, the total annual comprehensive loss attributable to the company's equity shareholders was only 205 million yuan, and in 2022, it suddenly rose to 986 million yuan, and even if the loss narrowed slightly in 2023, it also lost 867 million yuan.
Mobvoi operating data, picture source: Mobvoi prospectus
Although Mobvoi said in the prospectus that the loss was mainly due to the change in the book value of the contingently redeemable preferred shares and ordinary shares, and the impact of some expenses required for listing, the adjusted profits in 2022 and 2023 were 108 million yuan and 17.53 million yuan respectively, but for a company under the name of "AIGC" and "large model" For a technology company, the net profit of more than 10 million yuan is indeed difficult to support the training and R&D costs of hundreds of millions of large models, so supplementing cash flow through listing may also be one of the few ways out for Mobvoi.
Mobvoi operating data, picture source: Mobvoi prospectus
At the same time, in 2022, the cash flow generated by Mobvoi's operating activities will be 72.435 million yuan, but in 2023, this figure will become 28.392 million yuan, and the cash flow generated by operating activities will be significantly reduced.
Mobvoi operating data, picture source: Mobvoi prospectus
Why did the cash flow from operating activities suddenly decrease so much? It may be due to the sharp decline in revenue from the hardware business.
In 2021, the revenue of AIOT hardware equipment was 338 million yuan, in 2022 it was 197 million yuan, and in 2023 it will fall to 163 million yuan, a decrease of 51.7% compared with 2021. This has had a significant impact on the overall cash flow.
Perhaps aware of the problem of B-end dependence on large customers and poor development of hardware business, in 2021-2023, Mobvoi began to fully develop C-end products in the AIGC business, which is first reflected in the full investment in marketing.
In 2023, Mobvoi's sales and marketing expenses will be 151 million yuan, a year-on-year increase of 55.67%. This kind of vigorous marketing investment has indeed brought a rapid growth rate of 300% compound annual growth for Mobvoi's AIGC solution, but most of this growth is supported by the product "Magic Sound Workshop".
As early as 2020, when Mobvoi developed the large model UCLAI, they also launched the AI dubbing product "Magic Sound Workshop", and in 2023, after upgrading the large model to "Sequence Monkey", they successively launched the overseas version of "Magic Sound Workshop" Dupdub and products such as Wonderful Text, Wonderful Yuan, Wonderful Question, and Words Painting.
Up to now, the vast majority of Mobvoi AIGC users are from the "Magic Sound Workshop". According to the prospectus, in 2023, there will be 3.62 million registered users of "Moyin Workshop", accounting for 89.77% of the company's total registered users, and 404,000 paid users, accounting for 98.54% of the total paid users of AIGC solutions. During the same period, the number of registered users of Marvel and other AIGC products was 2,000 and 4,000, respectively.
Mobvoi user data, image source: Mobvoi prospectus
The average subscription period of "Magic Sound Workshop" is also the longest, reaching 14.2 months, and second only to "Magic Sound Workshop" is the digital human product "Wonderful Question" for enterprises, with an average subscription period of about 12 months.
Mobvoi user data, image source: Mobvoi prospectus
"Magic Sound Workshop" has five sections: software dubbing, real dubbing, sound store, cloning service, and efficiency tools, providing more than 1,000 kinds of timbres, and supporting 37 languages and 15 dialects; its sound store contains 890 voice artists, a total of 1,525 styles; software dubbing and voice cloning give users the right to customize text and audio sources respectively; and efficiency tools and real dubbing solve problems that users may encounter in the dubbing process.
Magic Sound Workshop, Image source: Mobvoi
It can be seen that the "Magic Sound Workshop" has almost grasped every pain point of users from "sound library" to "custom sound source", from "software dubbing" to "real dubbing", and it is friendly enough for consumer-level users.
At the same time, the "Magic Sound Workshop" also combines the two business models of "subscription" and "in-software payment", with an annual membership of 289 yuan and a sound source price ranging from 199-899 yuan per year. According to the data of the "AI Product List", the number of visits to the "Magic Sound Workshop" in March this year was 2.43 million, a year-on-year increase of 16.28%, ranking 11th among all AI product traffic in China.
Although the AIGC products represented by the "Magic Sound Workshop" have boosted Mobvoi's performance and brought more cash flow, turning Mobvoi's profit from negative to positive in 2022, the revenue of Mobvoi's AI software solutions has declined in the past year.
From 2021 to 2023, the proportion of revenue of Mobvoi's AI business has indeed increased, from 15.0% to 67.7%, which has also allowed Mobvoi to complete a strong leap from a "hardware company" to an "AIGC company", but the gross profit margin of the AI business segment has risen from 62.8% in 2021 to 93.8% in 2022, and then to 84.7% in 2023 , Mobvoi's overall gross profit has also declined from 336 million yuan in 2022 to 326 million yuan in 2023.
Mobvoi revenue data, image source: Mobvoi prospectus
The above data shows that although the transformation from a hardware vendor to an AI software solution vendor has brought some cash flow to Doorman, the momentum is not too strong.
However, it cannot be ignored that Mobvoi has just transformed into AIGC for two or three years, and among the many large model manufacturers in China who are still burning money for financing, it is a good result to be able to run through commercialization and take the lead in making profits through product and business model innovation. Compared with the financial number game, what is more worthy of everyone's concern is, what is the future development prospect of Mobvoi's AI business, and is there any development potential?
3. The AIGC of Mobvoi depends on voice and digital people
Mobvoi's AI business can be divided into three categories: voice, generative AI, and digital human:
- Voice, represented by Moyin Workshop and its overseas version of Dupdub;
- generative AI, represented by wonderful texts and paintings;
- Digital people, represented by Wonderful Yuan, Wonderful Question, and Yuanchuang Island.
In terms of voice, "Moyin Workshop" has grasped the common point of users in the whole process of "dubbing", and has accumulated 3.62 million registered users and 404,000 paid users, and has also contributed most of the customers to Mobvoi's AIGC business; DupDub has also provided services to more than 40 countries and regions around the world with more than 130 realistic voices and more than 15 editing functions, and has also been selected into the "AI Product List" to go to sea star list.
At the same time, relying on Li Zhifei's background as an expert in natural language processing and artificial intelligence, as well as Mobvoi's deep accumulation in the field of speech (its voice TTS engine has been iterated to the sixth generation, and the latest generation has functions such as automatic adjustment of emotion and prosody, high-speed voice cloning, and cross-language timbre transfer), the market prospect of Mobvoi's speech AI products is still relatively bright.
An example that can better confirm this judgment is that the dubbing of the popular short movie commentary video "Pay attention, this man's name is Xiaoshuai/This woman is called Xiaomei" is generated by Mobvoi's "Magic Sound Workshop". As long as the market for short video dubbing is still there, Mobvoi's voice AI products have room for development.
In terms of generative AI, Mobvoi's Wonderful Text and Yanzhihua are both based on the "Sequence Monkey" large model, but at the time of release, Li Zhifei only gave his "Sequence Monkey" large model a score of 50, so users may also have a question mark in their hearts about the ability of Wonderful Text.
In order to find out what the final ability of the wonderful text is, "Jiazi Lightyear" did two small tests:
First of all, Kimi, who asked Wonder Wen and the dark side of the moon, wrote a press release with the theme of "Mobvoi releases a large model sequence monkey":
Comparison of the press release generated by Wonder (left) and Kimi (right), image source: Screenshot of "Jiazi Lightyear".
Then let Wonder Wen and Kimi write a Xiaohongshu promotion copy for "Magic Sound Workshop" respectively:
Comparison of the Xiaohongshu copywriting generated by Wonderful Essay (left) and Kimi (right), image source: Screenshot of "Jiazi Lightyear".
It can be seen that except for the slight difference in the accuracy of the content (but this seems to be due to the advantage of Mobvoi knowing its own products better), Marvel Wen is slightly inferior to Kimi in terms of content vividness and presentation form.
At a time when competing products such as Wenxin Yiyan, Zhipu Qingyan, and Tongyi Qianwen are focusing on RAG, long text, etc., the competitive pressure of Marvel Wen based on the "Sequence Monkey" model is very huge, and if you want to surpass, you must have stronger technical strength and product ingenuity than your opponents.
At the same time, because Mobvoi's other generative AI product, "Yanzhihua", is still in the testing stage and has not generated revenue, the market prospect of Mobvoi's generative AI products is still unclear and needs to be further wait-and-see.
So, what about digital humans?
"Jiazi Lightyear" has discovered a "small surprise".
First of all, Mobvoi's enterprise AI interactive digital employee generation platform "Wonderful Question" has been applied in enterprises with relatively mature applications, attracting customers such as Shanghai Telecom and Blue Frog Technology, and the average subscription cycle is 12 months, second only to "Magic Sound Workshop";
Secondly, the number of registered users has increased from 4,000 in 2022 to 48,000 in 2023, and the number of paid users has also increased from 600 in 2022 to 2,000 in 2023 with its ease of use and vivid generation effect.
Mobvoi user data, image source: Mobvoi prospectus
The scenarios where digital humans can generate commercial value are mainly on the B-side, such as intelligent customer service, marketing promotion, government affairs guidance, education and training, virtual medical care, financial explanation, product experience, cultural tourism display, etc., and all walks of life will have their own digital human needs. Tang Jiaxian, CEO of Xugu Future, once said that 2022 is the explosive period of digital human commercial applications, especially since the second half of 2022, the digital human market has been in obvious short supply.
According to the "Metaverse Development Research Report 3.0", in 2021, the scale of the core industry of virtual digital humans will be about 33.6 billion yuan, with an average annual growth rate of 31%, and it is estimated that the scale of the digital human industry will be 98.8 billion yuan in 2025.
According to industry insiders, at present, Baidu, Tencent, Ali and other large factories have endless digital human orders, and there are more than five digital human-related studios under large factories, but they still can't do it, and many digital human orders are outsourced to third-party companies; digital human is also a very profitable business - enterprises need tens of thousands to hundreds of thousands of dollars to customize the deployment of a digital human, but the cost of a supplier to make a digital human is only a few thousand yuan, and the gross profit is as high as 90%.
And this is the opportunity to ask.
At present, Mobvoi's "Wonderful Yuan" has cooperated with customers such as Douyin, Kuaishou, JD.com, Taobao, and WeChat in the scenario of live e-commerce, and Marvel has also served a number of corporate customers. According to Mobvoi insiders, the labor cost of the live broadcast team is tens of thousands of yuan to more than 100,000 yuan a month, while the enterprise only needs a few thousand yuan to customize a digital person, saving 80%-90% of the cost compared with the live broadcast.
However, the competition in the digital human industry is very fierce, and price wars occur from time to time. Whether Mobvoi can run out of this track still depends on whether it can provide solid quality products, good delivery services and ultra-cost-effective pricing in the future.
To sum up, Jiazi Lightyear believes that in order to achieve the rapid development of AIGC business, Mobvoi needs to solve two key problems:
1. On the C-side, how to improve the ability of large models, find the next popular application that can continue to grow, and acquire more users?
2. On the B-side, how to do a deeper binding with specific industries, accumulate more enterprise data, and find more like-minded customers?
The business of AI large models is actually a large-scale business, the number of users cannot rise, the growth rate cannot keep up, commercialization cannot be closed, and the data required for product iteration cannot be found in the later stage. For a company like Mobvoi, although it has been listed with several profitable products and the name of "AIGC No. 1 Stock", there are big roots in the front of large factories and cutting-edge start-ups in the future, and the challenges ahead of Mobvoi are still arduous.
An interesting past is that in 2016, two days after Miss A talked to Li Zhifei for the first time, Li Zhifei sent a question on Moments: "Ask a Billion dollar question: What will be the business model of artificial intelligence?" ”
Later, he showed 18 valid answers collected in the circle of friends:
1. Continuous flickering VC blood transfusion: 7
2. API charges: 4
3. Internet mode such as freemium or advertising: 4 pcs
4. Hardware with a premium sold by a combination of software and hardware: 3 pcs
5. Engage in gimmicks PR activities to become Internet celebrities and then transform into e-commerce: 0
Regarding these answers, Li Zhifei joked to himself: "Personally, I think 5 is the most reliable, but because I am not handsome enough, Mandarin is not standard, so I can only choose 4." ”
It's a joke he asks and answers to himself, and it's also a self-confrontation that he never stops when he's alone. Today, it is clear that AIGC will be added to this option, and it is also clear that the road to commercialization of AI is still an unfinished road that is constantly being solved.
In 2019, Miss A asked Li Zhifei "what will he do after listing".
Li Zhifei, who was preparing for the IPO at that time, replied: "Listing is just a starting point, I still want to be a technology company with Niu X, and I am not willing to just sell a watch." ”
Dare to ask where the road is, picture source: TV series "Journey to the West"
*Resources:
《出门问问李志飞:AI创业者的孤独》,Xtecher
"Miss A Talks to Li Zhifei: There Must Be a Ruler in Your Heart| Jiazi Lightyear, "Jiazi Lightyear"
"Miss A Talks to Li Zhifei: Let's Talk About This Crazy AI Large Model Alchemy Conference| Jiazi Lightyear, "Jiazi Lightyear"
"Miss A in Conversation with Li Zhifei: Understanding Sora, Reproducing Sora|Jiazi Lightyear", "Jiazi Lightyear"
(Cover picture source: Mobvoi)