Core Viewpoint - The recent personnel changes at Tengshi, a subsidiary of BYD, reflect an internal rotation system aimed at enhancing management experience across different business segments, although there are concerns regarding the brand's high-end strategy not meeting expectations [2]. Group 1: Personnel Changes - Zhao Changjiang has been appointed as the General Manager of Tengshi Fangchengbao Direct Sales Division, while Li Hui has taken over as the General Manager of Tengshi Sales Division, indicating a strategic internal rotation [2]. - This is the second major personnel adjustment for Tengshi this year, following the integration of the public relations department into the group structure [3]. Group 2: Performance Metrics - Tengshi's sales target for 2024 is set at 200,000 units, but the actual sales reached only 126,000 units, resulting in a completion rate of 63.02% [3]. - In 2023, Tengshi aimed for 150,000 units but achieved only 127,800 units, with a completion rate of 84.6% [3]. - The cumulative sales for the first half of 2023 were approximately 79,000 units, reflecting a year-on-year growth of 34%, but only 26% of the annual target was met [3]. Group 3: Brand Strategy and Challenges - Zhao Changjiang led a strategic brand renewal for Tengshi, claiming that the first two phases of the renewal have been successfully completed, achieving breakthroughs in both brand recognition and sales [2]. - Despite initial success with the Tengshi D9, subsequent models like Tengshi N7, N8, and Z9/Z9 GT have faced challenges, being criticized for underperforming after their launch [2].