On January 8, 2017, the National Science and Technology Awards Conference was held in Beijing. Two scientists won the highest national science and technology awards, and 35 national natural science awards, 66 national technology invention awards and 170 national science and technology progress awards were selected. A series of award-winning major scientific achievements constantly refresh the creative height of China and show China’s innovation confidence. Most of the founders of these achievements have persisted in the initial research for decades and devoted their efforts to the construction of an innovative country and a world science and technology power. The science and technology vision edition will focus on them and decrypt their road to innovation, so stay tuned.

　　— — Editor

　　Tang Benzhong, the first prize winner of the National Natural Science Award.

　　Love your job is half the battle.

　　Our reporter Yu Sinan

　　Comments on innovation: new concepts can lead new development trends and open up new research fields. Revolutionary ideas can change our mode of thinking and even our way of life. In order to encourage original discovery, we must encourage the spirit of challenge and cultivate innovative culture. Because the highest realm of scientific pursuit is to subvert "common sense" and open up new fields and create new knowledge through conceptual breakthrough.

　　Award-winning Project: Aggregation Induced Luminescence

　　"To do scientific research, it is necessary to work hard ‘ Station ’ On the shoulders of giants, we should also dare to challenge authority and put giants ‘ Step on ’ At your feet. " This is what Tang Benzhong, an academician of the Chinese Academy of Sciences and a professor at the Hong Kong University of Science and Technology, often says to students. Seventeen years ago, he and his team challenged the traditional theory and put forward the concept of "aggregation-induced luminescence" for the first time in the world, and opened up a new direction of organic luminescent materials research through hard work. In 2018, Tang Benzhong won the first prize of the National Natural Science Award for his pioneering contribution in the field of "Aggregation Induced Luminescence".

　　God doesn’t just call. The discovery of "aggregation-induced luminescence" phenomenon can not be separated from the long-term research and accumulation of the team.

　　In short, "aggregation-induced luminescence" refers to the phenomenon that molecules emit more light in the aggregated state than in the monomolecular state. Until Tang Benzhong’s team discovered this phenomenon, scientists always believed in the theory of "aggregation quenching luminescence", that is, the luminous intensity of luminescent molecules weakened or even disappeared completely in the aggregation state.

　　Generally, organic luminescent materials are used in aggregate or solid state, so the phenomenon of "aggregation quenching luminescence" greatly limits the application range of luminescent materials. The theory of "aggregation quenching luminescence" is like a curse, which has framed people’s minds. Many scientists have tried to find ways to isolate molecules so that luminescence will not be quenched, but the results are limited.

　　In 2001, Tang Benzhong and his students accidentally discovered a phenomenon that was completely opposite to "aggregation quenching luminescence", that is, a class of organic molecules did not emit light in solution, but their luminescence was significantly enhanced after aggregation. Tang Benzhong is keenly aware that it may contain unique significance. After careful study and many experiments, he creatively put forward the concept of "aggregation-induced luminescence".

　　"Sometimes, doing research needs to jump out of the existing thinking frame. If you observe a phenomenon different from your existing experience, your first reaction should not be to avoid it, but to trace it to the source with great excitement." Tang Benzhong said.

　　"God doesn’t just call." Tang Benzhong said that the discovery of the phenomenon of "aggregation-induced luminescence" seems accidental, but in fact it is inseparable from the long-term research and accumulation of the team.

　　In order to solve the mystery that some organic molecules emit light in aggregated state, during that time, Tang Benzhong thought about this problem sleepless nights. Finally, after a lot of experiments and fruitful discussions, his team put forward an explanation model, that is, the phenomenon of "aggregation-induced luminescence" was caused by the limitation of intramolecular motion, which was widely recognized by the scientific community.

　　"Aggregation-induced luminescence" is an original concept first put forward by Chinese scientists, which opens up a new field of luminescent materials. At present, scientists from more than 1,500 research units in more than 80 countries and regions have entered this field.

　　Love your job! If you do this, you will be half successful.

　　"Original scientific research is like digging a well, the more springs you find down. If we just follow without surpassing, our thinking will be exhausted sooner or later, "Tang Benzhong said. At present, Tang Benzhong team has prepared a series of high-performance "aggregation-induced luminescence" materials, and cooperated with researchers in different fields to promote the application of these materials in photoelectric, sensing, biology, medical and other fields.

　　Tang Benzhong’s original dream was not to be a chemist. In middle school, he loved literature and wrote plays for the school art troupe. In 1977, at the suggestion of his brother, he applied for a major in science and engineering. He became attached to polymer science because he did well in the organic chemistry exam, and was taken a fancy to by the recruiting teachers of South China Institute of Technology (now South China University of Technology), so he was recruited into the school.

　　"After graduation, I was sent to Japan by the state instead of the United States where I wanted to study. My life seems to be ‘ Selected ’ Yes. " Tang Benzhong said. Facing the "chosen" life, Tang Benzhong has his own experience and ideas — — Love what you do.

　　During the four years in South China Institute of Technology, in order to squeeze out more time to study, Tang Benzhong didn’t go home once in the summer vacation, and basically spent it in the library. Doing research at the Hong Kong University of Science and Technology, his laboratory is often brightly lit at midnight.

　　Someone once asked Tang Benzhong the secret of doing good research, and his answer was: "Love your job! If you do this, you will be half successful. "

　　In Tang Benzhong’s view, the learning environment and conditions of young people are much better now than before, and they should concentrate on laying a solid foundation. "Some researchers pursue ‘ Short, flat and fast ’ Hot research, it is difficult to have time to calm down and think about major scientific issues, so it is difficult to really make significant scientific research results. Young people should have the consciousness and courage to do original research, and the whole society should also create a good culture of innovation. " Tang Benzhong said.

　　Li Jiayang, the first prize winner of the National Natural Science Award.

　　Have the courage to challenge difficult problems.

　　Our reporter Wu Yuehui

　　Words of innovation: To engage in scientific research, one must have the courage and spirit to challenge scientific problems. Don’t think that you can’t solve them just because others can’t. Dare to challenge and have confidence. The second is to have a very good team, which is very critical. Third, we must have the spirit of perseverance, not wavering in difficult times, and be able to persist all the time. The fourth is to have acumen. Without acumen, you have no idea where the most important key point of a scientific research lies.

　　Award-winning Project: Molecular Mechanism of Formation of High Yield and Good Quality Traits in Rice and Variety Design

　　The middle and lower reaches of the Yangtze River is one of the main rice producing areas in China, which has always been a region with a very high level of rice breeding and production in history. However, in recent 20 years, the rice yield in this area has entered a slow growth period, and there are some problems such as poor quality, weak disease resistance and serious degradation of main varieties, which also brings a series of problems such as abuse of antibiotics and pesticides. In this case, scientists have been thinking: can we find a "perfect coordination" between rice quality and quantity to achieve the best comprehensive ability?

　　After years of efforts, the research team led by Li Jiayang, an academician of China Academy of Sciences, finally found this "perfect coordination point". They used the concept and technology of molecular design breeding, and after careful hybridization "design", they bred new rice varieties with ideal plant type and excellent genes such as super high yield, early maturity and resistance to rice blast.

　　A few days ago, this breakthrough achievement was also of great strategic significance for guiding future crop genetic improvement and ensuring national food security, and won the first prize of the 2017 National Natural Science Award.

　　"Molecular design" breeding technology can accurately improve the shortcomings of rice.

　　In the past half century, rice breeding in China achieved two important breakthroughs and became an important part of the first "green revolution" in the world.

　　The first time was the success of dwarf breeding in 1960s, which increased rice yield by 20%— 30%； The second time was the successful research of hybrid rice in the mid-1970s, and the rice yield increased by about 20% on the basis of short-stem improved varieties.

　　The two breakthroughs have well solved the problem of food and clothing in developing countries such as China. How to eat well when you are full, so that rice can be both high-yield and high-quality?

　　In 1994, after completing his postdoctoral studies in the United States, Li Jiayang immediately returned to China and began to work hard to achieve this goal. Li Jiayang chose "molecular design" breeding technology as the research direction. “‘ Molecular design ’ Breeding technology is the most advanced technology in the field of crop genetic improvement in the world It can realize direct selection and effective aggregation of genes, that is to say, it can accurately improve shortcomings and aggregate multiple advantages, which is expected to not only achieve high yield and high quality of rice, but also greatly improve breeding efficiency, shorten breeding years and realize ‘ Precision breeding ’ 。”

　　The research process is extremely difficult and there is no precedent to follow.

　　The economic traits of most crops, such as high yield, stable yield, high quality and high efficiency, are regulated by multiple genes and have the characteristics of "modularity".

　　"Rice, too. Therefore, in this process, we need to first understand the different characters corresponding to different genes in rice, as well as the possible characters produced by the coupling of different genes, and analyze their expression regulation mechanism and interaction mode. Then these genes are relatively accurately recombined according to needs to get the varieties we need, so that the process of hybridization and seed selection becomes targeted and predictable. " Li Jiayang said, "It’s like building blocks. We choose the building blocks we need in a targeted manner to build the buildings we need faster and better."

　　However, the process of "building blocks" is not easy.

　　Li Jiayang frankly said that the most difficult period is the initial stage of research. "This is also a huge challenge in the world, and there is no precedent to follow. We can only explore our own research and establish a system of map-based cloning of rice genes. " Li Jiayang said.

　　Finally, after 8 years of hard work, Li Jiayang team successfully established a set of map-based cloned rice gene system. "With this system, we can clone all the genes of rice."

　　"What makes me most happy is that we successfully found the most critical gene in the subsequent research." Li Jiayang said that the gene called ideal plant type can make the plant type better. "The stems are thicker, the ears are bigger and the grains are bigger, which is the most important trait for high yield."

　　In addition to high yield and high quality of rice, "molecular design" breeding technology can also greatly shorten the breeding time. Conventional breeding needs 7-mdash; It takes 8 years to select breeding materials, and the "molecular design" breeding technology can shorten it to 4-mdash; Six years or even shorter, the breeding cycle is shortened to 1/2 to 1/3 of the original.

　　Li Jiayang said: "In conventional breeding, scientists can’t use the naked eye ‘ Audition ’ Produce plants with desired traits. However, in molecular module design breeding, even if it is still a seedling, as long as you do a genetic test, you can ‘ Lock ’ The one you want. "

　　Jia Zhenyuan, the first prize winner of the National Technological Invention Award.

　　I am a worker.

　　Zhao Yongxin and Lu Dongguang

　　Innovation: Find the right way to do scientific research. There are many hard-working people, and the key is to find the right direction. The right path may get twice the result with half the effort; If you go wrong, you may not succeed even if you make great efforts and go around in a big circle.

　　Award-winning project: high-quality and efficient processing technology and equipment for high-performance carbon fiber composite components

　　"I am a worker" — — When meeting and shaking hands, Jia Zhenyuan "reported himself" like this.

　　Jia Zhenyuan, 54, is distinguished professor, a Changjiang Scholar of Dalian University of Technology, the chief scientist of the National 973 Program, the winner of the National Ten Thousand Talents Program, and the first finisher of the 2017 National Technological Invention Award.

　　Short and gray-haired, he told reporters: "Farmers should plant good land and get more grain, workers should do a good job and produce good products, and we engaged in engineering science should understand the problems and get the technology through, and strive to solve practical problems and meet the major needs of the country."

　　Jia Zhenyuan’s work is a worldwide problem — — High-quality and efficient processing of carbon fiber reinforced resin matrix composites (hereinafter referred to as "carbon fiber composites").

　　Aiming at the bottleneck problem that restricts the development of the industry

　　Jia Zhenyuan has worked in the field of precision machining of mechanical engineering for nearly 30 years since he graduated from doctoral school and stayed in school to teach. "We work scientifically and always hope that what we do can be meaningful, combine our own research with the needs of the country, and aim at the bottleneck problem that universities have advantages and enterprises can’t solve and restrict the development of the industry."

　　High-quality and efficient processing of carbon fiber composites is such a "stuck neck" problem.

　　The lighter the high-end equipment in aviation, aerospace, transportation and other fields, the faster it runs and the farther it flies, and the greater the payload. Jia Zhenyuan introduced that the weight of these equipment is generally calculated by "grams", and the fuel consumption can be reduced by 3% for every 1% reduction in the structural weight of the aircraft & mdash; 4%； High-speed rail can reduce weight by 1% and energy consumption by 6%— 7%。

　　There are two ways to reduce weight: one is clever design, and the other is light material. At present, the lightweight material with rigidity and strength belongs to carbon fiber composite material. Moreover, it is easy to realize the synchronous manufacturing of materials and structures as a whole, and has become the preferred material for high-end equipment to reduce weight and increase efficiency.

　　"But it is not enough to have good materials, and the processing technology must keep up." Jia Zhenyuan said that only after a series of mechanical processing such as trimming and drilling can composite components be connected, assembled and used in high-end equipment. It is a headache for enterprises that burr, tear, delamination and other damages are easy to occur in the processing of composite components. These machining damages will affect the bearing capacity, fatigue life and reliability of components.

　　In 2003, after discovering this "stuck neck" problem when cooperating with enterprises, the research team made up their minds to overcome this difficulty.

　　Jia Zhenyuan told reporters that carbon fiber composite is a typical difficult-to-process material because of its multilayer superposition, multiphase mixing and anisotropy, which is completely different from homogeneous materials such as metals.

　　"The problem must be solved from the root." Jia Zhenyuan determined the R&D path for the team: from the applied basic research, the root cause of processing damage of carbon fiber composites was clarified from the composition mechanism, and then the theoretical methods to solve common problems were extracted from engineering practice.

　　With the spirit of "ants gnawing at bones", they finally made a number of major breakthroughs: they found out the removal mechanism of carbon fiber composites and the formation mechanism of machining damage, put forward the cutting theory for carbon fiber composites, and established the dynamic simulation model of cutting force and cutting process.

　　On this basis, the R&D team used theory to guide practice, put forward the principle of "micro-element removal" and "reverse shearing" to suppress machining damage, and invented three categories and nine series of tools for drilling and milling. The R&D team also developed a series of machining processes with negative pressure reverse cooling and self-air cooling chip removal function, and developed 13 sets of CNC machining process equipment.

　　Since 2010, the new tools and technical equipment developed by Jia Zhenyuan’s team have been put into use, and the processing damage of carbon fiber composites has been controlled within 0.1 mm.

　　I like people to call me teacher Jia best.

　　Since 2005, Jia Zhenyuan has won the National Technological Invention Award for four times. During this period, he was also promoted from the Dean of the School of Mechanical Engineering to the Minister of Mechanical Engineering and Materials Energy, and since 2015, he has served as the vice president of Dalian University of Technology.

　　"In fact, I like people to call me ‘ Teacher Jia ’ 。” He said frankly, "I define myself as a teacher. Teaching is my duty and scientific research is my duty. I have been a dean and minister for many years. Administration and scientific research cannot be said to have no conflict. The key is how to allocate time and improve efficiency. "

　　How did Jia Zhenyuan do it?

　　My colleague’s answer is "three noes". Professor Gao Hang, the backbone of the team, said: "Teacher Jia can’t play mahjong, poker, singing and has almost no hobbies."

　　Jia Zhenyuan’s trick is three "moments": arrive early in the morning, take a short break at noon, and work a little more after work.

　　"In fact, there are more than three teachers engaged in scientific research ‘ Later ’ 。” Professor Wang Fuji, a team member, said that Jia Zhenyuan has almost no holidays, and his desk is full of books. Whenever he has time, he reads materials and studies problems. "On one Sunday, I went to the office building to deal with something. When I passed Mr. Jia’s office, I saw him lowering his head and carefully pondering the knives in his hand."

　　Li Lanjuan, winner of the National Science and Technology Progress Award.

　　It is my wish to meet the needs of the people.

　　Our reporter Gu Yekai

　　Innovation testimony: I have relied on state grants to complete my studies since I was a child. It was the party and the state that trained me to grow up step by step. I have worked as a barefoot doctor and know the needs of the people for medical services. This is also my initial intention to become a doctor, teach and engage in scientific research. This time, we won the first national special prize of medical and health system, and it is an innovation and breakthrough in the prevention and control system of emerging infectious diseases. I will continue to lead the team to contribute to "Healthy China".

　　Award-winning projects: major innovations and technological breakthroughs in the prevention and control system of emerging infectious diseases represented by the prevention and control of human infection with H7N9 avian influenza.

　　Create and lead the "China technology" to treat patients.

　　Recalling the spring of 2013, Li Lanjuan, academician of China Academy of Engineering and director of the State Key Laboratory of Infectious Diseases Diagnosis and Treatment, was most impressed by the tension of racing against time.

　　In April 2013, Cao, a male patient, developed fever with a temperature as high as 39.5 degrees Celsius and was admitted to a hospital in Hangzhou. On the 12 th, the condition began to get worse, coughing and expectoration, and there was obvious shortness of breath. After diagnosis, Cao was a patient infected with H7N9 avian influenza, with respiratory distress syndrome, decreased blood pressure and shock. The consultant reported to Li Lanjuan that there was little hope for the patient to be rescued. Should he be transferred to another hospital? Li Lanjuan considered that the patient’s onset was only six days, which was the period when the patient’s lungs were seriously damaged by the peak of cytokine storm. At that time, there was no effective treatment for cytokine storm in the world.

　　"The patient is so young, although the hope is slim, as long as there is one percent hope, we must make 100 percent efforts!" After a comprehensive analysis of the progress of patients with severe infection, Li Lanjuan decided to apply the artificial liver support system to treat respiratory failure and block the cytokine storm according to the principle that Lee’s artificial liver technology he created can remove inflammatory factors in patients. She confessed to the consultant, maintained the patient’s blood pressure and adequate oxygen supply, maintained the vital signs, and immediately transferred the patient to the First Affiliated Hospital of Zhejiang University for emergency treatment with artificial liver technology.

　　Sure enough, this technical treatment scheme has achieved remarkable results. After 2 hours, the patient’s blood pressure began to stabilize and the inflammatory mediators of cytokines decreased rapidly. After five days and five nights of rescue, Cao miraculously survived the life difficulties of organ failure. In these five days, Li Lanjuan didn’t sleep for a while, and constantly summarized the treatment plan, and formed a treatment strategy of strictly controlling the use of antibiotics and hormones, and adopting anti-virus, anti-hypoxemia and multiple organ failure, anti-shock, anti-secondary infection ("four antibodies") to maintain water-electrolyte balance and microecological balance ("two balances").

　　Successful prevention and control of human infection with H7N9 avian influenza virus.

　　That spring, there were many sleepless nights like this. After the outbreak of the H7N9 epidemic, the project team confirmed the pathogen of the new H7N9 within five days and announced the whole gene sequence to the world, which won time for the global response to this new infectious disease. Li Lanjuan said that this is something that makes the medical community in China feel proud. "The most painful lesson of SARS is that the pathogen cannot be confirmed for a long time." The project team established a monitoring network for emerging infectious diseases with in-depth sequencing and Qualcomm data analysis as the core, which can complete the analysis of more than 300 pathogens within 72 hours, providing key technologies for early detection of new pathogens and monitoring of pathogen variation.

　　Finding the pathogen is only the first step in epidemic prevention and control. Team Li Lanjuan established the technical system of forecasting and early warning of emerging infectious diseases and the prevention and control mode featuring molecular typing and traceability, and expounded the epidemiological characteristics and laws of the epidemic for the first time. The team also confirmed that the live poultry market is the source of human infection with H7N9 avian influenza virus from epidemiology, serology and molecular virology, and proved for the first time that closing the live poultry market can significantly reduce the risk of virus transmission from poultry to people.

　　In order to effectively diagnose more emerging infectious diseases, Li Lanjuan team established an efficient and rapid research and development platform for diagnostic reagents for emerging infectious diseases in China. After the discovery of H7N9 pathogen, the detection reagent was successfully developed within 2 days, extended to 31 provinces and cities in China in 3 days, extended to neighboring countries in 5 days, and extended to the whole world by the World Health Organization in 7 days, which indicates that China’s technology in this field has reached and led the international advanced level. The team also successfully developed China’s first influenza vaccine seed strain infected with H7N9 avian influenza virus by reverse genetic technology, which broke the history that China’s influenza vaccine strain had to rely on foreign countries.

　　This is the first time in the history of prevention and control of emerging infectious diseases that scientists in China have successfully prevented and controlled the major emerging infectious diseases in China by using the self-created technical system, which not only avoided the recurrence of SARS, but also achieved outstanding results in controlling the import of infectious diseases such as Middle East respiratory syndrome coronavirus MERS and Zika and assisting Africa in fighting Ebola. The World Health Organization once commented: "China’s risk assessment and evidence-based response to human infection with H7N9 avian influenza can be used as a model for emergency response to similar incidents in the future."

　　The portraits in this edition are all painted by Cai Huawei.

　　　　　　　　[Editor’s note]

　　　　　　　　After Yuan Shikai’s death, the Beiyang Army split up, and warlords of various departments competed for the Central Plains. In September, 1924, the Jiangsu-Zhejiang War broke out, and the direct warlord led by Wu Peifu competed with the Anhui warlord for control of Shanghai. Before that, Wu Peifu had already won the victory over the Feng warlord Zhang Zuolin. In the eyes of westerners, Wu Peifu was undoubtedly the "strongest" in China at that time. On September 8th, Wu Peifu appeared on the cover of Time magazine, becoming the first Chinese to win this "honor".

　　　　　　　　After that, Feng Yuxiang, Chiang Kai-shek, Song Meiling, Wang Jingwei, Song Ziwen, Mao Zedong, Zhou Enlai, Luo Ruiqing, Chen Yi, Deng Xiaoping, etc. appeared on the cover of the weekly magazine one after another, becoming face of china that attracted worldwide attention. Of course, these characters are key players active in China’s political field, but what did the American news media people see from them at the moment when they became cover figures? In the process of making cover characters, what did the micro-expressions of those characters express to the world?

　　　　　　　　

The first Chinese on the cover of Time: Wu Peifu.

The captions under the photos are "General Wu" and "Biggest man in China". At that time, the Jiangsu-Zhejiang War broke out in southern China. The direct warlord led by Wu Peifu is fighting with the Anhui warlord for the control of Shanghai.

　　　　　　　　

1920s: Who was the strongest in China?

　　　　　　　　After Wu Peifu, Chiang Kai-shek, the second commander-in-chief of the Northern Expedition, appeared on the cover weekly of Time. In March, 1927, Chiang Kai-shek led the Kuomintang troops northward into Shanghai, in order to complete the complete reunification of the north and south of China. Of course, this is not easy. In 1929, the new warlords of the Kuomintang were in a scuffle again, filled with smoke. In 1930, Yan Xishan, Feng Yuxiang and Li Zongren jointly launched a war against Chiang Kai-shek, that is, the Central Plains War, which was the largest warlord melee in China’s modern history. As key figures in this period, Feng Yuxiang and Yan Xishan also appeared on the cover of Time magazine.

　　　　　　　　

1930s: Clouds of war were gathering, and the war was in chaos.

　　　　　　　　Since his first appearance on the cover of Time in April 1927, Chiang Kai-shek, as the supreme leader of China, naturally attracted the attention of western media in the 1930s. During this decade, Chiang Kai-shek appeared on the cover of Time magazine five times, including two appearances with his wife Song Meiling. In addition to Jiang and Song, in 1934, Puyi was enthroned as the "Emperor of Manchukuo", which made him appear in Time magazine. On March 18th, 1935, Wang Jingwei became the cover of Time magazine. 　 　 　

Chiang Kai-shek’s Face in Time

　 　 　 　　

　 　 　 　 The middle picture is: Chiang Kai-shek (November 9, 1936).

　　　　　　　　Clockwise from top left to bottom right are: Chiang Kai-shek and Song Meiling (October 26, 1931), which is Song Meiling’s first appearance in Time; Chiang Kai-shek (December 11, 1933); Stalin, Emperor Hirohito, Puyi and Chiang Kai-shek (January 24, 1936) were caused by the military conflict between the Soviet Union and Japan on the border between China and Mongolia; Chiang Kai-shek and Song Meiling (January 3, 1938), this is the Chiang couple who appeared on the cover of Time magazine as the person of the year in 1937.　 　 　 　　

Puyi (March 5, 1934)

　　　　　　　Previously, the Puppet Manchukuo was founded in 1932, and Puyi was promoted by the Japanese as the "head of state" and later called the "emperor". On March 1, 1934, Puyi held a ceremony to ascend the throne. A few days later, on March 5, the cover figure of Time magazine was Puyi.

On March 18th, 1935, Premier Wang appeared on the cover of Time magazine.

　　　　　　　　In 1935, Wang Jingwei was appointed President and Foreign Minister of the Executive Yuan of the National Government of the Republic of China, ranking second only to Chiang Kai-shek. How is the relationship between China and Japan progressing? Is it war or peace? What’s his attitude?

1940s: The Anti-Japanese War was a great event, and the Kuomintang and the Communist Party were wrestling.

　　　　　　　　In this decade, the war of resistance against Japan is undoubtedly the most important historical event. For Chiang Kai-shek, the Anti-Japanese War was arduous. After the victory of the Anti-Japanese War, how to promote the relationship between the Kuomintang and the Communist Party is also a problem. On September 3, 1945, Chiang Kai-shek appeared on the cover of Time magazine as a "winner" in the Anti-Japanese War. At that time, the issue of the Kuomintang and the Communist Party of China had attracted the attention of the world. As for December 1948, Chiang Kai-shek, who had just experienced the Liaoshen Campaign and the Huaihai Campaign, was once again on the cover of Time magazine, and the situation of the Kuomintang and the Communist Party was quietly reversed, which seemed to imply the coming of another era of Time magazine face of china.

In the 1940s, Chiang Kai-shek made three appearances on the cover of Time: June 1, 1942 (the stalemate stage of the Anti-Japanese War); September 3, 1945 (victory in the Anti-Japanese War); December 6, 1948 (during the civil war between the Kuomintang and the Communist Party, the Pingjin Campaign).　 　 　 　　

From left to right: Chen Cheng (June 16th, 1941), Song Meiling (March 1st, 1943), Song Ziwen (December 18th, 1944), Chen Lifu (May 26th, 1947).　　

1950s: The Face Assembly Number of Red China

　　　　　　　　The Communist Party of China (CPC)’s first ten years in power. In 1955, Chiang Kai-shek appeared on the cover of Time magazine for the last time. The Communist Party of China (CPC), who opened another era for the cover figures of Time magazine, whether Mao Zedong, Zhou Enlai, Liu Shaoqi, Chen Yi and Luo Ruiqing, are all faces from "RED CHINA" in the eyes of Time magazine.

Chiang Kai-shek (April 18, 1955)　 　 　 　　

Clockwise from top left：

Mao Zedong (11 December 1950); "Communist" Zhou Enlai (June 18, 1951); "Zhou Enlai in Red China" (March 10th, 1954); Mao Zedong (December 1, 1958), in the upper right corner of the cover, quoted Napoleon’s words: China is a sleeping lion, and when she wakes up, she will shock the world.

On March 5, 1956, General Luo Ruiqing. Luo Ruiqing, the police leader of Red China, was then the Minister of Public Security.

Liu Shaoqi, 12 October 1959. There are two lines in the upper left corner of the cover: "red China’s first decade" and "work, purges, disintegration".

　

The 1960s: Unprecedented turmoil

On September 9, 1966, Secretary of Defense Lin Biao. In the upper right corner, it says, "Chinese’s nightmare."

Mao Zedong, 13 January 1967. In the upper left corner, it says, "China is in chaos."

　　　　　　　　

1970s and 1980s: Who was in charge of ups and downs?

　On February 3, 1975, Premier Zhou Enlai. The era of Mao Zedong is coming to an end, and China will face a new period of development, and Zhou Enlai will shoulder this heavy responsibility?

Deng Xiaoping, 19 January 1976. The title is "Deng Xiaoping, Zhou’s successor", and the top right corner reads: "China, friend or enemy?"

Mao Zedong, 20 September 1976. At that time, Mao had passed away.　 　　

From left to right: Zhou Enlai (November 8, 1971), ping-pong diplomacy, China and the United States trying to adjust foreign relations; In 1972, Nixon visited China; Deng Xiaoping (February 5, 1979), China and the United States established diplomatic relations.　 　 　

From the late 1970s to the 1980s, Deng Xiaoping appeared frequently on the cover of Time. From left: On January 1, 1979, Deng Xiaoping was named the man of the year in 1978; 26 September 1983; 23 September 1985; On January 6th, 1986, Deng Xiaoping once again became the man of the year.

() The operating comments of the Board of Directors in 2023 are as follows:

　　I. Discussion and analysis of business conditions

　　The company is a comprehensive development enterprise dedicated to the development of intelligent manufacturing sector with special purpose vehicle and robot manufacturing as the core, urban operation sector with real estate development and urban renewal as the core, and smart livelihood sector with property services and medical care as the core as the three business systems. Relying on the core technology and resource advantages of each sector, it is diversified and complementary, and cooperates to build an ecological capacity of "great urban service".

　　In 2023, the operating income was 18.301 billion yuan, down 19.69% year-on-year, and the main business income of the urban operation sector accounted for the proportion.

　　87.87%； The net profit attributable to shareholders of listed companies is-3.651 billion yuan; The asset scale was 56.489 billion yuan, a year-on-year decrease of 19.73%; Net assets were 8.071 billion yuan, down 35.12% year-on-year; Net operating cash was 1.116 billion yuan, a year-on-year decrease of 42.19%.

　　-External environment for the company’s development in 2023:

　　In 2023, the macro-economy stabilized and repaired, the per capita income rebounded moderately, the previous backlog of demand was gradually released, consumption recovered moderately, infrastructure investment maintained growth, and the annual GDP growth rate rebounded by 2.2 percentage points to 5.2%. As far as the real estate industry is concerned, although the policy of stabilizing the property market continued to be introduced during the reporting period, such as the central bank continuing to guide the downward trend of loan interest rates, the implementation of "recognizing houses but not loans", and loosening the purchase restriction policy in some places, residents are worried about the downward trend of house prices and the risk of delivery of some real estate enterprises, and preventive savings behavior still exists. In this context, according to the investment and sales data of real estate development in 2023 released by the National Bureau of Statistics, the supply and demand sides of the real estate market are still under pressure, and the data continues to decline. The national investment in real estate development decreased by 9.6% year-on-year; The newly started area of real estate decreased by 20.4% year-on-year; The annual sales volume of new commercial housing was 11.7 trillion, down 6.5% year-on-year;

　　Among them, the sales of existing homes increased by 19.3% year-on-year, the sales of forward houses decreased by 10.8% year-on-year, the prices of first-tier cities declined year-on-year, and the prices of second-and third-tier cities rebounded year-on-year, but the absolute level was still low. Among the sources of funds for real estate development, 19.1 trillion yuan was put in place this year, down 13.6% year-on-year, and the overall operating pressure of the real estate industry chain was great.

　　—— Company performance in 2023:

　　Affected by the continuous downward trend of the overall market of the real estate industry, the sales prices of some real estate projects of the company have declined, so it is necessary to test the asset impairment according to the requirements of accounting standards and extract reasonable impairment reserves. The total loss of asset impairment and credit impairment is-2.911 billion yuan, resulting in the company’s profit loss; On the other hand, during the reporting period, the consolidated sales amount decreased by about 7.65% year-on-year, and the corresponding reduction in the payment amount put a great pressure on the development payment, which increased the operating costs and expenses of the project, extended the development and construction cycle of some projects, and may further reduce the project income in the future. On December 31, 2023, the balance of cash and cash equivalents in Dima’s consolidated balance sheet was RMB 1.300 billion, and bank loans and other loans due within one year totaled RMB 10.366 billion. Considering the liquidity risk, Lixin Certified Public Accountants, the company’s auditor, issued an unqualified audit opinion on the company’s 2023 financial report with significant uncertainties related to going concern.

　　Under the pressure of declining sales of real estate business and repayment, the company continued to maintain liquidity stability by means of extension, interest rate reduction and interest payment first. In 2023, the company’s total interest-bearing liabilities were 14.377 billion yuan, down 8.11% year-on-year. The net cash flow generated by financing activities was-2.189 billion yuan, and the debt was still in a net repayment state, achieving a net operating cash flow of 1.116 billion yuan. In the face of huge liquidity pressure, all management and core employees always adhere to the principle of "not lying flat, surviving", strive to stabilize production and operation, and make every effort to ensure the progress and quality of project delivery to ensure financial security; Improve the company’s fund management ability and refined operation level, reduce costs and increase efficiency, and return particles to the warehouse; Optimize the organizational structure and performance, ensure the stability and efficiency of core backbone personnel, and polish stronger endurance and tenacity; According to the market and its own strategy, we will continue to flexibly change direction and speed, expand light asset business and non-housing business, find new directions, and gradually get out of the predicament.

　　1. The layout of intelligent manufacturing business is "going out to sea" and actively expanding overseas markets.

　　During the reporting period, while stabilizing the domestic market, Dima Industrial Special Purpose Vehicle gradually focused on overseas, explored and explored key markets, actively established stable sales channels and cooperative partnerships, enhanced the brand’s popularity in overseas markets, and laid the development foundation for the later "going out to sea" strategy. The company carefully incubates two robot brands, "Tingjie" and "Aoting", equips excellent R&D team, develops domestic and foreign sales outlets, builds a sales platform, and gradually realizes the all-round development of domestic and international two-way business through three intelligent products, namely orchard service robot, fire fighting robot and cleaning robot.

　　2. Continue to empower smart people’s livelihood services to help future development.

　　During the reporting period, the company’s property company, Tohara Hitoshi, increased its management area by nearly 20%, insisted on scientific and technological investment, built an all-round and three-dimensional safe and intelligent community, and continued to implement a diversified service format combination strategy covering residential, commercial, office buildings, government public buildings, industrial parks, hospitals, embassies, etc. In combination with the brand "Evergreen Society" of medical health care, we will focus on promoting the project landing and large-scale operation of the medical health care industry, focusing on the combination of medical care and health care, and developing an integrated platform for community home wisdom and old-age care with personalized needs of silver hair, so as to empower the smart people’s livelihood business to grow steadily in both directions.

　　3. Expand the business of building, selling and servicing, and focus on light to seek a breakthrough.

　　During the reporting period, in the face of the continuous downward pressure of the real estate market, the company made every effort to ensure the delivery of buildings, give full play to its competitive advantages in terms of product strength and online customer acquisition, expand light asset business such as agent construction and agency sales, establish an operating system for building and selling services, and strive to cross the industry turning point and painful period.

　　4. Maintain credit stability and fully guarantee liquidity safety.

　　During the reporting period, the company obtained the credit tracking rating from Far East Credit Rating Co., Ltd. to maintain AA+ and maintain the credit rating unchanged; During the reporting period, the company managed stably to guarantee delivery, and strived to extend the existing financing and renew loans. In mid-April, 2023, the asset-backed securities of the Sino-Thai Asset Management -SAC Building Trust Beneficial Rights Asset Support Special Plan were successfully renewed for three years, and the interest payment of the non-public issuance of special corporate bonds for housing leasing was completed, and investors did not exercise the option of selling back, which continued to gain the trust of financial institutions and the recognition of the capital market.

　　5. Adjust and optimize the organizational structure to achieve high-efficiency management.

　　During the reporting period, the company actively responded to the current market situation, continuously improved and optimized the internal organizational structure, achieved streamlined and efficient management, and further reduced costs and increased efficiency. In terms of organizational structure, during the reporting period, the company continuously made strategic adjustments, and completed a series of actions, such as organizational transformation, fighting capacity improvement, and stable efficiency improvement, to maintain the stability of core talents and ensure the salary, benefits and career development of core talents.

　　(II) Key work in sub-sectors

　　

　　Ii. the industry in which the company is located during the reporting period.

　　In 2023, the domestic and international environment is still complicated, and global geopolitical risks and the continuous interest rate hike by the Federal Reserve also bring about global capital market turmoil. The downward trend of exports and the adjustment of domestic real estate market have suppressed the recovery of domestic demand to a certain extent, which has brought different degrees of pressure on economic growth, employment and prices. China’s steady growth policy has continued to increase, and the overall economy has maintained a rebound momentum, basically in a stable range.

　　1. Intelligent manufacturing plate

　　1) Special purpose vehicle manufacturing

　　From the perspective of special vehicle segmentation, the market share of new energy vehicles will continue to increase in 2023, from 25.6% in 2022 to 31.4% in 2023. With the technical progress and supply upgrade of new energy vehicles continuing to iterate, the subsequent special vehicle market will gradually continue to transform from traditional energy to new energy. The rapid development of the export of special purpose vehicles is also one of the important changes in 2023. In 2023, the export of special purpose vehicles was 36,000 units, up by 48% year-on-year. Although the demand for bulletproof vehicles decreased slightly due to the change of national payment habits, the overseas market space is still large. At the same time, at the moment when "safe production" is becoming more and more important, the market demand for public safety and emergency integrated vehicles such as fire fighting, medical treatment and emergency communication rescue is increasing, especially for special vehicles such as medical rescue, disinfection and prevention, and emergency communication. In addition, with the gradual recovery of residents’ service consumption and strong travel demand, the airport passenger traffic has improved significantly compared with 2022, which is also conducive to the normalization of the airport special vehicle market.

　　2) Robot business

　　In the past two years, with the support of industrial policies, industrial robots and service robots have developed steadily as a whole. The state has continuously improved the industrial policy of developing intelligent manufacturing, accelerated the intelligent transformation of traditional manufacturing industries, and encouraged and supported industrial enterprises to develop in the intelligent direction. Although the output of industrial robots decreased by 2.2% year-on-year in 2023, the Ministry of Industry and Information Technology, the Ministry of Science and Technology and other departments issued the "Robot Plus" Application Action Implementation Plan in 2023 to further support and promote the development of industrial robots. In 2023, the output of service robots increased by 23.3% year-on-year, and the market scale of new robots such as medical robots and fire fighting robots in service robots also gradually increased. With the continuous integration of new generation information technology, biotechnology, new energy technology, new material technology and robot technology, the function and performance of robots will be greatly improved, which will further promote the application and development of robots.

　　2. Urban operation plate

　　1) Real estate development

　　In 2023, under the guidance of the general tone of "policy for the city", in addition to increasing the stability of the real estate market at the central level, local policies also continued to introduce large-scale favorable policies, including the first-tier cities with relatively tight previous policies, and also relaxed the policy of "recognizing the house but not the loan". Second-and third-tier cities also increased their support, including reducing the down payment ratio, lowering the mortgage interest rate, relaxing restrictions on purchases and sales, increasing the amount of provident fund loans, housing ticket placement, and housing subsidies. However, affected by residents’ wait-and-see mood, the overall real estate supply and demand remained weak throughout the year, and the market continued to decline.

　　1. Development investment

　　From the investment format, residential investment is still the mainstream. In 2022, the national investment in real estate development decreased by 9.6% year-on-year, of which residential investment accounted for 75.6%, and the amount decreased by 9.3% compared with the previous year, which was less than the non-residential investment such as commercial real estate (-10.5%). The planned construction area of residential land transactions nationwide decreased by 26.4% year-on-year. Under the background of weak real estate sales and tight capital turnover, the willingness of housing enterprises to take land has also decreased significantly.

　　2, construction and new construction

　　In 2023, the construction area decreased by 7.2% compared with last year, and the newly started area decreased by 20.4%, which was significantly larger than the overall construction area and real estate sales area. Under the background that real estate sales continued to weaken and the liquidity pressure of housing enterprises remained high, the decline in return on investment and the limited new financing were still suppressing the willingness to start new projects.

　　3. Sales area, sales amount and average sales price

　　In the whole year, the sales area and sales amount of new commercial housing in China were 1.117 billion square meters and 11.66 trillion yuan, respectively, down 8.5 and 6.5 percentage points from the previous year. The average price of sample residential houses in Baicheng is 16,185 yuan/square meter, which is basically the same as that in 2022.

　　From the perspective of the region, real estate sales in various places continue to weaken, and the decline rate is obviously differentiated. First-tier cities just need to be relatively sufficient, and the decline in real estate sales in the eastern region is relatively small. The sales amount fell by 5.7% year-on-year, which is better than the national average, while in the central region,

　　The sales amount in Northeast China decreased by 11.2% and 7.8% respectively.

　　Generally speaking, the real estate market is under pressure from many sides, the house price and transaction scale are weak, the activity of supply side and demand side is low, residents have obvious wait-and-see mood, and real estate sales continue to weaken. However, in the long run, China’s residents’ balance sheets are relatively healthy, with a substantial increase in savings in the past two years, followed by a continuous increase in policies to stabilize residents’ expectations, and a more balanced new urbanization layout. The purchasing power of real estate accumulated in first-tier cities is expected to boost the gradual release of demand for housing in second, third and fourth-tier cities, and the demand for real estate needs to be stabilized.

　　2) Urban renewal

　　The construction of the "three major projects" such as the transformation of urban villages in 2023 is an important starting point for steady growth. In April and July, the Politburo meeting clearly emphasized actively and steadily promoting the transformation of urban villages in megacities. In July, the policy details were promulgated and the Central Economic Work Conference continued to emphasize that the central bank also added 500 billion PSL quota support, and urban renewal in various places is expected to accelerate. Some cities, such as Guangzhou, have tried first, and all localities have actively explored new modes and paths. "Government-enterprise cooperation" has become an important mechanism to promote urban renewal into the fast lane and help cities develop with high quality. Urban renewal has brought new development opportunities to the business management industry.

　　3. Smart People’s Livelihood Plate

　　1) Property services

　　In 2023, the policy of "guaranteeing the delivery of buildings" was actively promoted, and at the same time, the increase in existing home sales also promoted housing enterprises to speed up the completion of existing homes. The completed real estate area increased by 17% year-on-year. According to the data of the China Central Index Research Institute, from the perspective of the management scale of listed companies in Hong Kong stocks, in the first half of 2023, the average management area of listed companies reached 140 million square meters, up 27.7% year-on-year, slightly higher than the same period last year.

　　（24.4%）。 In terms of structure, according to the published data for the first half of 2023, the performance of central enterprises is still the most outstanding, with revenue increasing by over 20%, local state-owned enterprises increasing by 18.44% year-on-year, while private property enterprises are also relatively stable, with an average revenue growth rate of 6.7% year-on-year, which shows the overall situation of increased concentration and stronger players. At present, high quality has become the "main theme" of the industry. Under the background that the industry development returns to the essence of service, the differentiated service quality formed by property enterprises based on their own service capabilities is becoming an important factor in evaluating the development capabilities of enterprises. Improving satisfaction with quality service and winning the trust of owners is the consensus and trend of property service enterprises, and will lead the industry to develop in a healthier and sustainable direction.

　　2) medical rehabilitation

　　With the acceleration of China’s population aging process and the decline of working-age population, the dependency ratio of the elderly population has increased. According to the latest population data of the National Bureau of Statistics, by the end of 2023, the population of China aged 65 and over will be 220 million, accounting for 14.9% of the total population in 2022 to 15.4% in 2023, and the demand for old-age care will gradually increase in the future. At the same time, with the continuous improvement of per capita GDP, the consumption market of the elderly group has not only increased in volume, but also diversified in demand. Combined with overseas experience, the consumption tendency of the elderly is also high. At present, China’s pension-related enterprises are still in the process of continuous exploration and improvement, and the supporting professional medical service personnel, elderly health care products and mature market-oriented pension health care institutions are still lacking. At present, China has gradually formed the "9073" pattern of providing for the aged, that is, about 90% of the elderly are providing for the aged at home, about 7% rely on community support and 3% live in institutions, which will be gradually optimized with the improvement of the health care policy system and the formation of the industrial ecological system.

　　

　　Iii. Business of the Company during the reporting period

　　During the reporting period, the company engaged in the following three business segments: intelligent manufacturing, urban operation and smart people’s livelihood:

　　(A) intelligent manufacturing sector

　　1, special vehicle manufacturing

　　1) The performance is basically stable.

　　Dima Industrial’s overall order revenue, gross profit and net profit decreased slightly compared with last year, achieving an operating income of 791 million yuan, a decrease of 17.70% compared with last year, and a decrease of 2.13 percentage points in gross profit margin. During the reporting period, with the change of payment methods, the demand for bulletproof vehicles declined, but the company’s fire protection market, emergency market, public security market and operator market still maintained the first market share; With the increasing demand of emergency special market, the order of large emergency communication vehicles increased by about 39.16% year-on-year; Orders for new energy vehicles increased by 177% year-on-year.

　　During the reporting period, Dima Industry ranked among the top 100 private manufacturing enterprises in 2023, and won the titles of "Chongqing Technological Innovation Demonstration Enterprise", "Chongqing Enterprise Innovation Award", "Chongqing Artificial Intelligence Industry Development Alliance Governing Unit" and "Chongqing Excellent Private Enterprise", which is the recognition of Dima Industry’s technical strength.

　　2) Continue to invest in innovation and develop new technologies.

　　In the reporting period, the company carried out 36 R&D projects, including emergency communication, operation rescue, pure electric aircraft tractor, aircraft power supply vehicle, safety berthing system and mobile CT medical vehicle, and developed 18 new products, including extended bulletproof cash transport vehicle, nuclear and biochemical multifunctional detection fire truck, small equipment fire truck, ultrasonic inspection vehicle, mobile CT vehicle and multi-link extension mechanism.

　　During the reporting period, the company applied for and authorized 101 patents, including 6 invention patents. The company independently developed and completed the first multi-functional nuclear and biochemical fire truck in China, which has the ability of nuclear and biochemical detection and decontamination; Two-stage/three-stage side pull realizes performance improvement and verification, and realizes product marketization; Pure electric aircraft tractor uses the latest three-electric integration technology to improve the stability of electrical system.

　　In the aspect of joint research and development between schools and enterprises, the company cooperated with Chongqing University of Posts and Telecommunications to undertake the special key research and development project of Chongqing’s technological innovation and application "Research and Development and Application of Multi-modal Coordination and Transportation Control System for Special Vehicles in Typical Scenes"; In the national key research and development plan "Distribution and Detection of Covid-19 Variants of Sewage", which is led by the Physical Evidence Identification Center of the Ministry of Public Security and undertaken by many related research institutes, Dima Industry participated in the research and development of one of its sub-projects "Research on Integrated Automated Mobile Equipment for Covid-19 Detection and Analysis in Sewage".

　　3) Build a quality management system and complete large-scale guarantee tasks.

　　Dima Industry has further promoted the quality control system of the whole process, and established a series of detailed rules and standard control documents in the aspects of quality system construction and evaluation, product development, manufacturing process and supplier quality management, and quality assessment and post-evaluation. During the reporting period, the company provided 31 after-sales service technical support and guarantee for disaster rescue, large-scale activities and emergency drills in 21 provinces and cities, including escorting the launch of Shenzhou 16, Hangzhou Asian Games and Gansu earthquake rescue.

　　4) Actively expand foreign business and realize the growth of export business.

　　During the reporting period, Dima Industry focused on Africa, the Middle East and Southeast Asia, explored key markets, and landed in government projects in C? te d ‘Ivoire and emergency communication vehicle projects in Hong Kong Telecom.

　　2. Robot business

　　The company’s "Tingjie" and "Aoting" robot brands, product applications cover urban emergency management (fire protection, communication security, dangerous accident handling), agricultural operations, logistics operations, safety inspection and cleaning maintenance.

　　1) Increase investment in scientific research and steadily realize product development.

　　The company’s "Tingjie" fire-fighting robot inherits the advantages of Dima Industry in the fields of public security, emergency and communication for more than 20 years, and the sales orders of fire-fighting robots have been completed in batches, which has outstanding advantages such as large flow, strong power, high passability and explosion-proof safety, effectively improving rescue efficiency and ensuring life safety; Multifunctional riot detection robot realizes order contract; Pre-detection communication robots and other products were unveiled at the 11th China International Police Equipment Expo, which helped the smart police to build a visual, manageable and usable information capability and provided an integrated overall solution for police actual combat.

　　The intelligent agricultural special robot developed by the company "Tingjie", with its self-developed "RCU" control platform technology, has created the industry’s top mobile chassis of the vehicle-gauge robot, and created an all-terrain chassis technology platform by using the design technology of balance, suspension and swing arm crawler wheel to meet the requirements of all-terrain robot operation. It has deeply explored the integration of modern agricultural needs and cutting-edge technology, and launched an agricultural plant protection robot with multi-function, modularization, high durability and easy maintenance.

　　Aoting Robot, a subsidiary of the company, focuses on the research and development of waterless commercial cleaning robots. At present, it has applied for more than 66 intellectual property rights, and is committed to providing "clean+"intelligent solutions for customers in commercial and industrial fields, redefining the cleaning standards in the field of intelligent cleaning, and won the "INCLEAN Innovation Excellence Award of ISSA, a global cleaning association".

　　2) Layout the international market and expand the global business.

　　During the reporting period, the company officially laid out overseas markets, and its products were unanimously recognized by overseas customers. Aoting cleaning robot products have been exported to Singapore, Hongkong, Taiwan Province, Australia, Saudi Arabia and other regions. At present, the company has set up five sales and after-sales service centers in China, and there are 70+ service outlets in the country, with an accumulated service area of 11 million square meters and an accumulated service time of 66,000 hours.

　　(2) Urban operation sector

　　1. Real estate development

　　During the reporting period, due to the continuous downturn of the market, the overall operating income of the company’s real estate was 15.742 billion yuan, down 22.03% year-on-year, and the gross profit margin was 12.47%, down 10.46 percentage points. Dongyuan Real Estate firmly guaranteed the delivery work throughout the year, maintained steady operation and liquidity safety, upgraded and adjusted the organizational structure, reduced costs and increased efficiency, refined operation, expanded the business of agent construction and agency sales, helped the development of light assets business, and fully responded to the systemic risks of the industry.

　　1) Ensure the completion of the delivery work, operate steadily and practice long-termism.

　　Dongyuan Real Estate combines the company’s actual situation and market environment, completes the development and construction of stock projects, improves the quality of projects and services, and ensures the timely delivery of projects. In the still strict market environment, the delivery of about 25,000 sets of 41 projects and 55 groups was completed in the whole year, and the number of delivery sets increased by about 4% compared with last year. In the whole year, 189 quality inspections were completed, involving 30 key projects, and the delivery quality of project facades and public areas was significantly improved compared with last year. During the reporting period, Dongyuan Real Estate continuously upgraded various management and control systems such as financing, investment, marketing, operation, etc., and strived to improve efficiency and quality in operation, and won the honors of "TOP50 Comprehensive Strength of China Housing Enterprises" and "TOP30 Brand Value of China Housing Enterprises".

　　2) Vigorously expand the light asset business of "building and selling clothes"

　　While stabilizing the basic operation of the re-investment project, we will establish an operating system for building and selling services, form a white paper and a management manual for building and selling services, and adhere to the strategic transformation of value creation, one policy, and assistance. During the reporting period, the company undertook a total of 14 construction and sales service projects, with a contracted amount of 283 million yuan, covering the whole process of agent construction, consignment, consulting, escrow, urban renewal and other types.

　　The company actively tries to explore and implement the dreamer business model, inherits the excellent genes of Dongyuan Real Estate, integrates the advantages of Dongyuan Real Estate in product research and development, precision work quality and supply chain, and is committed to providing customers with the whole construction, main and auxiliary materials and home improvement services integrating design, customization, soft decoration and home appliances, and quickly completes the layout in more than 10 cities such as Chengdu, Chongqing, Wuhan and Mianyang, with a total of 143 sets of contracts signed, with a contracted amount of 12.24 million yuan.

　　3) Product strength is continuously upgraded to realize value transfer.

　　Dongyuan Real Estate continues the core service orientation of "customer value first", realizes the lean design of products, and deeply digs into the general layout and the ultimate value of individual products; Through the innovative "customer value group", we provide professional auxiliary support for accurate distribution of product value, realize seamless connection from market research to R&D, deeply interpret customer needs, tap product potential, and ensure that product value is delivered to marketing and customers without loss. During the reporting period, its projects won the honors of "Gold Award for Real-life Display of Asian Habitat Landscape Award", "Gold Award for Residential Landscape (Region) of the 10th Garden and Metallurgical Cup Professional Award", "Silver Award for Urban Renewal of Global Habitat Design Award" and "Silver Award for International Residential Building of London Design Award".

　　4) Optimize internal structure and management system, and strengthen marketing management.

　　Dongyuan Real Estate actively responded to market changes, adjusted its internal structure and business strategy, optimized its internal management level, and returned the particles to the warehouse to reduce costs and improve efficiency.

　　In terms of marketing management, we will make full efforts to acquire customers, build and improve the marketing model and organizational ability of online customer acquisition, customer operation and maintenance, and self-expansion of customers, so as to increase efficiency and reduce costs. In the field of online customer acquisition, Dongyuan has built a customer acquisition team in Tik Tok, including sales and self-incubation. Based on the short-straight and double-opening customer acquisition model, the monthly turnover has broken 100 sets, accounting for 20% of the transactions; On this basis, the company created a series of professional classes of "Training in Actual Combat", which summarized and precipitated a set of actual combat tactics of the developer’s platform sales in Tik Tok, and successfully trained and exported the professional ability.

　　2. Urban renewal

　　Dongyuan Zhixin has the ability to develop and operate composite space, with both light and heavy assets. Relying on the comprehensive business management ability of investment, financing, construction, management and retirement, it focuses on non-standardized project scenarios and integrates the comprehensive services of urban renewal. At present, Dongyuan Zhixin operates 6 commercial projects with a total operating area of 391,000 square meters, covering shopping centers, office buildings and community businesses. During the reporting period, Dongyuan Zhixin adhered to the concept of organic renewal and long-term operation, continuously established its ecological capacity around "business+"products in the field of urban renewal, provided a good long-term asset management service plan for its clients’ assets, and became one of the "Leading Brands of China Real Estate City Renewal" in the 2023 China Real Estate Brand Value List of China Central Academy of Sciences.

　　(3), wisdom and people’s livelihood plate

　　1. Property services

　　1) Diversified business development, continuous deep cultivation to achieve scale.

　　During the reporting period, under the background of fluctuating macroeconomic environment and increasingly fierce market competition, Hihara Hitoshi continued to build a diversified service portfolio covering residential buildings, commercial complexes, Grade A office buildings, government public buildings, industrial parks, hospitals, embassies, etc., and achieved breakthroughs in many new formats such as universities, airports, State Grid, subways, troops, Asian Games venues, etc. By December 31st, 2023, Hihara Hitoshi had operated and managed 573 property projects in 76 cities in China, with a total construction area under management of about 60.2 million square meters, up about 19.0% year-on-year. During the reporting period, the company continued to pay attention to changes in market demand, coordinated and coordinated regional resource sharing and complementary advantages, strengthened the horizontal alliance between regional and professional BU, expanded the synergistic effect, broadened the market contact area, planned the high-quality market development structure, and continued to create a beautiful city.

　　2) Continue to empower science and technology and build a digital system.

　　During the reporting period, Hihara Hitoshi adhered to the investment in science and technology, and helped to build a digital system in many aspects, including East Station applet, material procurement platform, financial information system optimization, unified data platform construction, etc., and comprehensively laid out four intelligent sectors, namely "Smart Bank", "Smart Eye", "Smart Union" and "Smart Management", as well as the IOT smart community platform, integrating security precautions, video surveillance, online alarm, command and dispatch, and emergency management. The company embraces AI in an all-round way, makes use of large-scale model technology at home and abroad, and constantly explores the combination of AI and business in combination with business conditions. At present, it has been applied in two market management scenarios.

　　3) Enhance brand awareness and service quality.

　　Hihara Hitoshi continued to deepen the construction of the internal service system, and made continuous efforts in five categories: property renewal, on-site hardware, customer relationship maintenance, contact service and community activities. Enhance the deep link with customers through community activities such as old friends’ life festival and holiday festivals; Linkage platform, Mercure, renting and selling to create a community life market, providing owners with beautiful life services such as clothing care, purchasing daily necessities, maintaining household appliances, and renting and selling real estate; Continue to operate 400 call centers to conduct distributed full coverage research on all customers, so as to achieve normal customer service. During the reporting period, Tohara Hitoshi perfected and formulated such systems as "Reporting Management System", "Quality Management System" and "Quality Red Line and Management Risk Checklist", and won more than 20 awards such as TOP16 of comprehensive strength of China property enterprises in 2023, TOP15 of super service of China property enterprises in 2023, and Excellent enterprise of sustainable development of international property management services in 2023. In the customer satisfaction survey of Saiwei Consulting in Beijing in 2023, Hihara Hitoshi kept the top position in the industry with 91 points.

　　2. Health care

　　1) The company’s brand "Evergreen Society" strives to promote the project landing and large-scale operation of the medical and health care industry, and relies on four major pension products: home community, institutional pension, nursing and rehabilitation institutions and specialized institutions, focusing on the layout of high-end institutional pension and community home pension projects. The company has a pension service management information platform suitable for business management needs, which covers customer management, sales contract management and standardized evaluation of nursing level, and builds an intelligent management platform for all business information with modules such as operation, finance, medical service management, quality control and visual analysis (BI) of operation decision. Through the multi-scenario business practice of medical treatment+institution+community site+home medical care combined with four-level linkage mode, the integrated platform of community home-based smart pension-Changqing Community Care and Management Platform is developed to meet the individual needs of the elderly, which covers the functions of elderly management, home-based care bed construction, home-based care service, home-based smart security monitoring and management, meal assistance service, online service order placing, community home-based smart big screen and so on. During the reporting period, Changqing Society completed the formulation and training of version 1.0 of the standardized operation and management of cognitive disorders, and three institutions were certified as "cognitive friendly institutions"; Evergreen Society was selected as the 25th "China Kangyang Industry Operator with Comprehensive Strength" in Yihan Think Tank, and was shortlisted in the "List of Advanced Units and Advanced Individuals in National Pension Service to be commended" by the Ministry of Civil Affairs, and its two institutions were selected as "the first batch of smart pension application pilot demonstration in Chongqing".

　　2) During the reporting period, Evergreen Society established two old-age care institutions in fengjie county, Chongqing. At present, it operates one vocational training school, 12 old-age care institution projects, nearly 50 community service stations, and more than 2,000 beds, serving more than 20,000 customers, with a stable business scale. In the education business, the company provides vocational skills training, and the training base covers an area of 2,100 square meters. It has become the training base and appraisal base of the National Vocational Skills Appraisal Institute of Chongqing Municipal Health and Wellness Commission, and cooperates with famous experts from domestic top three hospitals and famous doctors’ studios to focus the courses on professional training sheets in health fields such as Chinese medicine, health care, nutrition and health. In the field of education for the aged, "Evergreen Show" is a middle-aged model training brand under Evergreen Society Education, which mainly carries out catwalk training courses for middle-aged models and provides training and exchange services related to art, culture and public welfare.

　　

　　Iv. analysis of core competitiveness during the reporting period

　　1. Intelligent manufacturing sector

　　1) Competitive products and leading brand advantages

　　Dima Industry is committed to building a leading special-purpose vehicle brand in China, focusing on the research, production and sales of high-tech special-purpose vehicles, and establishing a domestic first-class special-purpose vehicle production line and production technology management system. It is a service provider of special-purpose vehicles and emergency industries with great strength and scale. The company has more than 300 kinds of products, such as emergency rescue support, bulletproof cash transport, airport ground equipment, robots, mobile service equipment, smart cities, etc. Its series of bulletproof cash transport vehicles, emergency communication command, network and information security, emergency rescue, medical fire protection and other system integration vehicles rank in the leading position in the industry all the year round, and it is a leading enterprise in emergency communication and emergency support equipment and services in China. Airport ground equipment series is also very competitive.

　　2) Advanced R&D technology and innovative ability

　　Dima industry adheres to the innovative concept and continues to invest in research and development. The company actively enhances its independent R&D and innovation capabilities, and has the ability to pass the production qualification examination and intellectual property declaration. Dima Industry has continuously optimized its products and upgraded its production technology, broadened its product spectrum and actively developed new products. At present, Dima Industry and its subsidiaries have authorized and accepted more than 400 patented technologies and intellectual property rights, and have cooperated with universities and research institutions for a long time for special declaration. The company has set up an intelligent network development team. Through the product development and production of emergency communication command vehicle, super-large national emergency mobile command platform, emergency base station vehicle, logistics support vehicle, on-site disposal vehicle and other models, it is equipped with intelligent IOT systems with independent intellectual property rights, such as multi-vehicle interconnection communication system, centralized control system, multi-network unified communication system, remote monitoring system, front-line emergency command system, etc., to solve the practical needs of information interconnection for customers.

　　3) Excellent quality control and after-sales service system

　　Dima Industry optimizes the certificate issuing process, after-sales expense process and newly announced prototype inspection process, formulates the certificate issuing management system and the announced prototype inspection management system, and establishes the robot APQP system document; Through the supervision and audit of ISO9001, ISO14001, ISO45001, ISO27001 and after-sales seven-star management system, the three-level management mode of customer communication, feedback and complaint mechanism is adopted to ensure product quality in multiple dimensions. The company has GB/T27922 certificate of perfection of after-sales service system and GB/T22080 certificate of information security management system, which optimizes the PDI work of customers’ vehicles and improves the satisfaction of customers’ vehicles. The quality department and the service department form a regular communication mechanism, and through training, the service personnel and the quality management personnel form a collaborative process, so that the customer feedback can get the fastest response and feedback, and bring high-quality user experience to customers.

　　4) Have a professional intelligent robot product line.

　　The company’s robot business has a professional team. Relying on the laboratory resources of colleges and universities, Aoting Robot innovates and changes the commercial clean robot technology, and independently develops 10,000-centimeter SLAM navigation technology, clean adaptive pressure and speed technology and HIAT-3D-Fusion environmental sensing technology with 8 categories and 20 sensor integrations, which has achieved the leading generation difference technology in the industry and will gradually become a world-class excellent robot enterprise integrating production, research and research in the future. Tingjie Robot focuses on the field of special robots and service robots, and makes use of the advantages of integration, communication and large manufacturing system for more than 20 years to build a professional data service platform+intelligent emergency, intelligent security and intelligent agricultural special robots, develop common core technologies and product platforms such as human-computer interaction, motion control, sensory transmission, explosion-proof and bulletproof, and strive to become a service provider of special robot equipment and solutions.

　　2. Urban operation plate

　　1) Fine management of balance between supply and marketing, and gradual transformation of both light and heavy.

　　Dongyuan Real Estate adheres to stable operation, ensures the delivery of products with high quality and good reputation in large quantities, runs through fine operation and safety management, dynamically reviews the ratio of storage to sales and balances the supply, marketing and storage structure based on inventory quantity, inventory structure, local market and actual flow rate; According to the rigid capital demand of the project, plan the supply rhythm, avoid the risk of supply interruption, make the project operation more reasonable and stable, and ensure the safe operation and stable development of the company. While stabilizing the basic operation of the re-investment project, we will quickly establish the operation system of building and selling clothes, which has the ability to expand and promote rapidly, and help the strategic transformation of both light and heavy.

　　2) High-quality competitive advantage of total product strength

　　Dongyuan Real Estate has always adhered to the product core orientation of "customer value first", and from the three dimensions of product, service and community operation, combined with the exploration and study of family and community life pain points and customer life needs, it has deeply explored the iterative upgrade of Dongyuan Real Estate products and services, forming Dongyuan’s unique big product brand. Ingenuity has created residential product brands such as "Printing the Yangtze River", "Printing", community-operated products and brands such as "Yuan-Ju Chang" and "Tong Meng Children’s Enjoy", and created a large productism with iteration, innovation, interconnection and co-creation, which is widely recognized by customers.

　　3) Maintain matching enterprise management efficiency.

　　Dongyuan Real Estate has an efficient and comprehensive enterprise management system, with clear organizational rights and responsibilities. In addition to the traditional "two management and two control", that is, managing plans, goods value, profits and cash flow, it has a professional and stable output, focusing on solving specific project problems, and can quickly penetrate and get through at the three levels of group, region and project, and make quick decisions and implementation, so as to avoid redundant processes and decision-making mechanisms from affecting business advancement. With the continuous deterioration and downturn of the market, the company can match the overall strategic deployment of the organization at each stage, clarify the key points, formulate strategies, and form a closed-loop iterative evolution of "organization-business-responsibility-landing" to meet the increasingly demanding requirements of the real estate market for the real estate operation system.

　　4) Excellent corporate culture and talent team to maintain market competitiveness.

　　Dongyuan Real Estate takes "for a new day" as its purpose, and has excellent employees and teams that meet the corporate cultural characteristics of "enterprising, keen and cooperative". It not only has high consensus, strong synergy and cohesion, but also has high pressure resistance and strong learning ability. Being able to keep up with the market’s rapid response and actively innovate and empower, it provides a talent guarantee for the long-term development of the company, and also provides an organizational guarantee for the promotion of the company’s competitiveness and corporate image.

　　5) Ability and experience in urban renewal.

　　Dongyuan Zhixin has the differentiated core competitiveness of complex space management and innovative content incubation, the ability of long-term operation-oriented planning design and the ability of full-cycle asset management to build urban renewal projects. According to the characteristics of the renewal business, the company re-planned and integrated the full-cycle business capabilities precipitated by previous organizations, and split them into different modules, such as policy consulting service, EPC management consulting, start-up and operation management, brand and content marketing service, asset planning and asset management advice, to meet the pain points of customers at different stages and in different scenarios.

　　3. Smart People’s Livelihood Plate

　　1) Rapid development of quality property management services

　　Hihara Hitoshi is committed to being a multi-format comprehensive service provider in the city, creating a multi-service format covering residential buildings, commercial complexes, Grade A office buildings, government public buildings, industrial parks, schools, hospitals, embassies, etc., and adhering to the development strategy of "big property-full value", forming a business pattern of both residential and non-residential double tracks, and realizing the comprehensive service advantage of IFM (integrated facility management service) professional empowerment. Adhere to the market-oriented transformation, and constantly innovate the service mode. The service scope covers East China, West China, Central China and Southwest China, and provides customers with property city services, better life services and comprehensive services such as foreign affairs, science and technology, and medical care. The three business lines complement each other, which is conducive to the continuous growth of the management scale of Dongyuan Renzhi and the continuous expansion of the market territory.

　　Tohara Hitoshi diligently explores customer needs, continuously improves the service experience, and meets customers’ differentiated needs in all directions through "Tohara", value-added service brands "Original Life", "Original Housekeeper" and innovative community operation products "Original Gathering". Hihara Hitoshi adheres to the service concept of "high growth+high customer satisfaction", always regards comprehensive residential services as the cornerstone of enterprise development, constantly improves property services and operational management capabilities, customizes value-added services around industry characteristics, and accumulates excellent reputation for property services and corporate honor; Hihara Hitoshi accelerates the development of non-residential business, explores value-added service opportunities for non-residential projects, innovates services and builds differentiated competitive advantages.

　　2) Deeply cultivate the service and quality of old-age care.

　　Di Ma Changqing Society has been deeply involved in Kangyang for many years, and has accumulated rich operating experience, and has a certain familiarity and sensitivity to the industry. As a comprehensive kangyang chain company, Evergreen Society’s four-level service circle, which combines medical care, old-age care institutions, community sites and home-based services, continues to deepen its layout to better achieve synergy and economic benefits. The company has diversified its business structure, with the old-age service as the core, and developed services related to big health vocational education and training, old-age education and silver hair consumption; Relying on Changqing Society’s professional and comprehensive service ability for the aged, it has developed from the center to the surrounding areas, reached in-depth strategic cooperation with the governments of the surrounding areas, civil affairs, health and health committees and other departments, and created benchmark pension projects by upgrading local pension facilities and services to meet the high-quality local pension needs of the elderly.

　　

　　V. Main operations during the reporting period

　　In 2023, the operating income was 18,301,217,300 yuan, a year-on-year decrease of 19.69%; The net profit attributable to shareholders of listed companies was-3,650,897,900 yuan, down 4.40% year-on-year; The asset scale was 56,488,600,500 yuan, a year-on-year decrease of 19.73%; The net assets were 8,071,324,100 yuan, a year-on-year decrease of 35.12%; The net operating cash was 1,115,643,100 yuan, a year-on-year decrease of 42.19%. Among them, the main business income of the urban operation sector was 15,888,464,400 yuan, a year-on-year decrease of 22.37%, and the main business income of the intelligent manufacturing sector was 790,746,300 yuan, a year-on-year decrease of 17.70%.

　　

　　VI. The Company’s Discussion and Analysis on the Company’s Future Development

　　(A) the industry pattern and trends

　　1. Intelligent manufacturing plate

　　1) Special purpose vehicle manufacturing

　　The application of special purpose vehicles is extensive and professional, and there are many market segments. The operation requirements and demand of special purpose vehicles in different application scenarios are also quite different. At the same time, with the development of intelligent manufacturing, special purpose vehicles are gradually deeply integrated with advanced technologies such as new energy and intelligent networking. Since 2023, "going out to sea" has gradually become the positive development direction of various enterprises, and the automobile export in 2023 is also very strong, which also brings new ideas for the breakthrough of the special purpose vehicle market in the future. Under the background of increasingly diversified application fields and increasing global geopolitical uncertainty, the market demand for public safety and emergency integrated vehicles such as fire fighting, medical treatment, emergency communication and rescue is increasing due to the need of prevention and treatment of safety, health and natural disasters. It has great development potential for special purpose vehicle manufacturing enterprises with strong R&D strength and scale advantages, and can quickly and effectively integrate new energy, emergency safety, intelligent manufacturing, etc., and launch green and environmentally friendly emergency application products with high technology added value to meet market demand.

　　2) Robot business

　　In 2023, the Ministry of Industry and Information Technology and other 17 departments issued the "Robot+"Application Action Implementation Plan, proposing that by 2025, the density of manufacturing robots will double compared with that in 2020, and the application depth and breadth of service robots and special robots will be significantly improved, and the ability of robots to promote high-quality economic and social development will be significantly enhanced. With the continuous progress of technology and the continuous expansion of application scenarios, the development momentum and broad market prospects make it a strategic highland for countries to compete for. As an important branch of the robot industry, industrial robots are mainly used in the production lines of automobile, electronics, food, medicine and other industries. By improving production efficiency and accuracy, industrial robots can help enterprises reduce costs and enhance their competitiveness. With the continuous progress of artificial intelligence technology, service robots have also begun to rise rapidly, and their application scenarios are becoming more and more diverse, covering many fields such as family services, business services, medical care, etc. I believe that the application scope and influence of robots will be more and more in the future.

　　2. Urban operation plate

　　1) Real estate development

　　In 2023, the overall real estate policy was favorable, but the performance of real estate sales remained sluggish, and customers took a wait-and-see attitude because of concerns about the delivery risk of faster houses and the risk of house prices. At present, the real estate policy has gradually shifted from demand side to stable supply. The Central Economic Work Conference once again emphasized actively and steadily resolving real estate risks, meeting the reasonable financing needs of real estate enterprises with different ownership equally, and promoting the stable and healthy development of the real estate market. In 2024, the Central Economic Work Conference and the National People’s Congress put forward clear requirements for optimizing the real estate policy and promoting the stable and healthy development of the real estate market, demanding to adapt to the development trend of new urbanization and the changes in the supply-demand relationship in the real estate market, speeding up the construction of a new real estate development model, increasing the construction and supply of affordable housing, improving the basic system related to commercial housing, meeting residents’ rigid housing needs and diversified and improved housing needs, helping to alleviate residents’ wait-and-see mood and promoting the normal release of stock savings. In the medium and long term, under the background of great changes in the relationship between new urbanization and real estate supply and demand, with the further optimization of the basic system of commercial housing, the orderly promotion of the "three major projects" such as affordable housing construction, "emergency and emergency" public infrastructure construction and village-in-city reconstruction, the new model of real estate development is expected to gradually become clear.

　　2) Urban renewal

　　The Outline of the 14th Five-Year Plan points out that it is necessary to further promote the new urbanization strategy with people as the core and implement urban renewal. In 2023, the Central Economic Work Conference also placed "new urbanization" in an important position in the new development model of real estate, and at the same time clearly emphasized the promotion of the urbanization rate of the registered population, which is still low at present. In the long run, China’s urbanization space is still large, and the deepening of industrialization has the effect of driving urbanization, and it can also bring about a smoother urbanization process of population flow. With the development of urban agglomerations, the second, third and fourth lines with good infrastructure, friendly business environment and affordable operating costs are expected to usher in more population inflows and industries in the future, bringing opportunities to the development and operation of commercial real estate in third-and fourth-tier cities. At present, all cities are actively promoting the formulation of supporting policies, steadily and orderly promoting urban renewal actions and promoting the implementation of urban renewal projects. How to highlight differentiation, individualization and customization in positioning and format, how to link service industries, effectively promote urban renewal, innovate value-added services, and meet market and consumer demand are the challenges that commercial operation management needs to face.

　　3. Smart People’s Livelihood Plate

　　1) Property services

　　At present, the scale of enterprises in the property service industry is growing continuously, but the differentiation is also more obvious. The leading edge of head enterprises is further expanded and the market concentration is improved. Under the background that the real estate policy is gradually shifting to stable supply and promoting the policy of guaranteeing the delivery of buildings to stabilize the market players, a large number of pre-sold commercial houses are expected to be completed and delivered gradually, and industries with post-real estate cycle chain such as property services are expected to usher in a gradually better business environment. In addition, with the increase of per capita GDP, consumer service requirements will be further improved, and the attention to the quality of property services will be improved. How to continuously improve the overall value of property enterprises and meet the demand for consumer quality is the embodiment of the differentiated core competitiveness of enterprises in the future. The diversified development of services in the property management industry has brought challenges to the provision of full-process, integrated comprehensive services and the improvement of IFM (Integrated Facilities Management Service) capabilities. With the deep integration of artificial intelligence, big data, cloud computing, Internet of Things and other technology applications and property management, digitalization and intelligence have become the "accelerators" for property service enterprises to break the service bottleneck, which can help enterprises reduce costs and increase efficiency, improve customer experience and promote the stable development of enterprises.

　　2) medical rehabilitation

　　In 2023, China’s population will continue to show negative growth. Under the general trend of population aging, the demand for medical and health services will continue to grow. The "silver-haired economy" has also become an important development direction in the future. The policy has been focused on promoting the coordinated development of the old-age cause and industry, promoting the high-quality development of the old-age service system, and accelerating the improvement of the old-age service system and health support system with the coordination of home community institutions and the combination of medical care and health care. With the gradual improvement of consumers’ willingness and ability to pay for health care services, the diversified and high-quality pension products and services market will also usher in a period of rapid development.

　　(II) Company development strategy

　　Focusing on maintaining sustainable operation, the company actively changed to asset-light strategy, fully expanded and laid out smart manufacturing and smart people’s livelihood business, achieved synergy and stable development, and sought a long-term solution to liquidity.

　　(A) intelligent manufacturing sector

　　1, special vehicle manufacturing

　　Dima Industry continues to strive to become a leading domestic and world-renowned expert in the field of special vehicles and an emergency management platform service provider. It has a number of product lines, including bulletproof, integration, aviation and medical care, covering hundreds of products in the fields of financial escort, public security, emergency, fire protection, electric power and civil aviation, and medical and health care. New energy is becoming the trend of the times. Facing the needs of the market and customers, Dima, as a brave innovator, quickly cut into the field of new energy, speed up product layout, and start the new energy transformation of all special products. Dima Industry will seek cooperation opportunities around advocating and practicing ESG development concept, developing and manufacturing intelligent new energy special purpose vehicle products, exploring digital products and solutions in the field of emergency intelligent special purpose vehicles, and promoting the healthy and stable development of the company.

　　2. Robot business

　　Based on years of accumulation in the fire protection industry, aiming at the pain points of fire protection customers, the company constantly meets customer needs, optimizes the construction of core teams and forms unique technical advantages. Relying on fire protection robots as the starting point, taking inspection robots as the basis and professional robots (special+service) as the direction, the company forms robot clusters, and utilizes the advantages and capabilities in property, industrial parks, community services and emergency industries to improve the service network and data-based capabilities. Build the core technology and product platform of robots, build a professional data service platform+smart emergency, smart security, smart agriculture and smart cleaning special robots, and become a supplier of intelligent robot equipment and overall solutions.

　　(2) Urban operation sector

　　1. Real estate development

　　Facing the continuous downward pressure and challenges of the industry, Dongyuan Real Estate will continue to adhere to the long-term business philosophy, change its thinking and rhythm, reduce expenses, save costs, seek measures to reduce the burden of existing heavy assets, gradually shift to light assets, and maintain steady operation while maintaining the delivery part of the building. Fully lay out the business of "building and selling clothes", set up new business teams in each region, absorb business clues through the local resources, applicable play and experience of the region, and realize the expansion and rapid scale of the business of building and selling clothes with the help of the company’s leading product capabilities and sales capabilities; Optimize organizational structure, reduce costs and increase efficiency; Actively respond to market changes and expand new sales channels, and strive to ensure the safety of the company’s funds; Strengthen cash flow management, rationally optimize debt structure, and actively communicate with creditors to gain understanding and complete the extension and extension of corresponding debts.

　　2. Urban renewal

　　Dongyuan Zhixin is committed to becoming an innovative service provider of urban evolution and an explorer and leader of urban organic renewal. Relying on the whole chain capability system (district planning, product planning, development and transformation, multi-operation capability and asset management capability) of urban development plate and the experience of serving the customers of 10+ districts in succession, the company actively explores and practices long-term solutions for urban renewal with the main bodies of district renewal with high consensus (local governments and platform companies), including but not limited to consulting services, media content procurement, management output, entrustment and whole lease operation.

　　(3) Smart People’s Livelihood Plate

　　1. Property services

　　The company’s property sector has always adhered to the service concept of "every moment of peace of mind", the vision of "becoming a respected urban renewal service provider with unique business value", the development strategy of "big property-full value", and the development characteristics of multi-format services, laying out four major areas of "residential comprehensive services, international comprehensive services, medical comprehensive services and urban comprehensive services" to expand the business portfolio and scale; The company will continue to empower technology, comprehensively sort out data assets, and combine big data related technologies to create a new generation of data middle platform, and sort out multiple business indicators from the aspects of market, operation, finance and human resources, laying a solid foundation for the overall digital operation and enabling the strategy to land; The company focuses on the life cycle needs of people and cities, and will continue to take customer satisfaction as the core, continuously upgrade the service quality, and provide more detailed, comprehensive, caring and efficient property services and value-added services for multiple customers; The company will continue to expand the business chain related to non-residential formats, build differentiated competitive advantages, build IFM (Integrated Facilities Management Service) capabilities, tap value-added service opportunities for non-residential projects, dig deep into customer needs, and innovate service models; The company will promote the transformation of organizational management and control mode to "platform+marketization" mode, continuously optimize organizational structure, strengthen personnel training and cultural identity to promote the company’s development.

　　2. Health care

　　The company’s health care business is based on the service ability for the aged, with the medical ability as the core support and the community home care business as the development focus. Through various operation modes and business forms, it continues to build a chain-type health care medical institution with a certain scale, helping to realize the ideal life in the hearts of more elderly people. Through the four-level linkage business model of medical care+institution+site+home, we will provide the elderly with all-round pension solutions covering basic services, nursing services, medical services, professional pension products and pension information, and actively explore opportunities in other pension fields such as silver-haired consumption, elderly education, vocational training and pension tourism.

　　(3) Business plan

　　The company focuses on stable operation, strengthens cash flow management, and ensures sound financial capital security; Change business ideas, actively change to asset-light strategy, fully expand and lay out smart manufacturing and smart people’s livelihood business, and provide more support for future sustainable development.

　　(1) Intelligent manufacturing sector:

　　1, special vehicle manufacturing

　　1) Enhance the competitiveness of core products and ensure the steady improvement of performance.

　　Stabilize the market share of core products such as bulletproof, emergency, communication, medical care, fire fighting technology and airport equipment, focus on "region-industry-products", break through market segments one by one, and increase sales and order volume; Improve high-quality operation efficiency, and strengthen cost optimization through the whole process of "design-supply chain-process-manufacturing" to reduce costs and increase efficiency; Strengthen the construction of quality culture, enhance quality awareness, optimize quality and monitor the process from the design-process side, win the market with high-quality products and services, and realize the growth of sales, profits and market share.

　　2) Deepen the emergency industry and accelerate the transformation of new energy.

　　Grasping the market demand, Dima Industry has upgraded to smart security equipment and platform service providers around the "M+AIoT+N" (mobile+intelligent Internet of Things+application scenarios) scheme, and promoted the double growth of enterprise quality and quantity. In addition to the existing electric cash-carrying vehicles and electric airports, in the field of integrated vehicles, the third-level side-pull communication command fire truck is equipped with Geely new energy chassis for the first time to build a fire emergency response command center for all disasters, and Dima Industry has started the new energy transformation of all products.

　　3) achieve a breakthrough in "going out to sea"

　　Combined with the international market demand and policy encouragement direction, we will vigorously promote the sales and business cooperation of special products in overseas markets, build and incubate business outlets, increase orders and market share, and tap new profit growth points.

　　2. Robot business

　　The company continues to strengthen the product line of robots, increase the innovative research and development of special robots such as fire fighting robots, plant protection robots and cleaning robots, break through the market and increase the market share. The company plans to establish strategic partnerships with local governments, enterprises and institutions to jointly promote the development of artificial intelligence and robot industry in the local area and build an integrated smart city technology and smart agriculture platform. At the same time, expand overseas market orders, comprehensively deepen the strategy of layout to the sea, and realize the all-round development of domestic and international two-way business with excellent product competitiveness.

　　(2) Urban operation sector:

　　1. Real estate development

　　1) Adhere to stable operation and control operational risks.

　　Dongyuan Real Estate will focus on continuous operation, continuously guarantee the delivery of part of the work, reduce costs and save all expenses; Strengthen the management of project sales and payment, meet the payment needs of loan repayment, taxes and project funds as much as possible, and rationally plan the project operation nodes to ensure that the efficiency of fund withdrawal matches the rhythm of fund payment, and improve the efficiency of fund use and turnover; Optimize the debt structure, continue to strengthen communication with financial institutions, strive for the understanding of financial institutions and obtain loan extension support, thus ensuring the company’s operation and liquidity safety.

　　2) Reduce costs and increase efficiency, and improve internal management efficiency.

　　The company will focus on "taking cash flow as the core, stopping falling and stabilizing, improving steadily and improving profitability" as the operating goal, and establish an organizational mechanism with shared capabilities, unified standards, rapid decision-making and dynamic strategies to improve the overall internal decision-making quality and operating level. Ensure that the inventory structure is reasonable, the personnel organization structure and structure are reasonable, and establish an operation control system with cash flow as the core to reduce costs and increase efficiency and reduce liquidity risks; Focus on the implementation of phased core tasks and objectives, optimize system construction, and continuously improve the quality and operational efficiency of corporate governance and control systems.

　　3) carry out the revolution of online marketing system and realize the business expansion of building, selling and serving.

　　The company upgraded its online marketing system, systematically improved its marketing capabilities, increased the proportion of self-acquired customers through public domain operation and maintenance, continuously consolidated the organization’s self-acquired customer capabilities, and made efforts in online, self-channel and customer operation and maintenance to ensure stable sales; Quickly shift the accumulated capacity of heavy assets business, and realize the expansion and rapid scale of construction, sales and service business by expanding the four aspects of city investment and agent construction, capital co-construction, variable co-construction and supplier co-construction, and gradually realize the rapid expansion of light assets business.

　　2. Urban renewal

　　Dongyuan Zhixin continuously incubates its own brands and IP ("there is a good market IP(“1891", and there are neighborhoods, etc.). Through the diversified business model of self-incubation, joint venture cooperation and ecological coordination, customers with district renewal and monomer renewal provide a one-case and one-policy asset management service scheme, which promotes continuous renewal and upgrading, injects vitality into the carrier and district, and helps the long-term operation of business management. The company continued to deepen organizational capacity building, and based on new market pain points and demands, improved the delivery of products and operational solutions of internal and external customers; Continue to expand the business scale of external customers, give full play to their own professional ability and business experience, form good cooperation with more government and state-owned platform companies, and build a win-win situation in the field of urban renewal.

　　(3) Smart People’s Livelihood Plate:

　　1. Property services

　　As a comprehensive urban service provider, Hihara Renzhi Service actively responds to the uncertainty of the external environment, insists on market-oriented transformation, deeply cultivates core cities, expands business chains related to non-residential formats, innovates service models, builds differentiated competitive advantages, and continues to take "customer satisfaction" as the service yardstick, constantly promoting the professional, product-oriented, refined and intelligent development of services, and realizing double growth of income and profit. Dongyuan Renzhi Service will implement the amoeba business model, combine the business scenarios of first-line business units, build an independent business mechanism, enhance business awareness and stimulate business vitality. Driven by business objectives, we will establish a project classification management model, iterate operation management process measures, achieve lean management through management optimization, energy saving, intelligent equipment introduction, and optimization of management platform, and try to create a "highly integrated collaborative operation" model, integrate supplier resources, realize the promotion and application of business integration model, and improve service productivity. At the moment of new urbanization, Hihara Hitoshi will also actively resonate with the development of the city, explore the concept of sustainable development, promote the development of urban renewal to refinement, specialization, intelligence and low carbon, and realize the improvement of urban governance system and the improvement of management efficiency.

　　2. Health care

　　The kangyang business segment will continue to operate a new business mode of combining medical care with nursing care through the operation mode and business form of "hospital+nursing care institution+community site+home service", deeply lay out four service types of home community pension, institutional pension, nursing rehabilitation service and medical service, and explore the development of new business modes such as big health training school, market-oriented home rehabilitation service and community medical service. Continue to cultivate deeply in Sichuan and Chongqing, further improve the occupancy rate of existing pension institutions, improve the service level and satisfaction of institutional pension, gradually adjust and increase the proportion of nursing beds, and improve the overall income and profit level. Improve the supporting system of old-age care services, strengthen the systematization and standardization of operation, upgrade products and services, and enhance the brand influence of "Di Ma Changqing Society". In the field of silver-haired consumer business, Evergreen Society will open direct stores one after another, and combine community service stations, online platforms, old-age tourism and external cooperation to create private domain traffic belonging to Evergreen Society.

　　(4) Possible risks

　　1) Market risk

　　In 2023, the optimization policies for urban policies were intensively introduced in various places, spreading from third-and fourth-tier cities to first-and second-tier cities, especially in first-tier cities, and the partial loosening of the purchase restriction policy played a positive role in the market recovery. However, the relationship between supply and demand in the real estate market has gradually changed from insufficient supply to insufficient demand. Investors are not confident about the future real estate development and worried about the risks of real estate enterprises. The overall investment and sales in the real estate market continue to decline, and enterprises with risks have emerged one after another, especially private real estate enterprises. In 2024,

　　2) Liquidity risk

　　Although the overall policy of real estate is getting better, the sales end of the real estate market has not been significantly improved, the hematopoietic function of housing enterprises has not been effectively restored, new financing is still difficult, and liquidity risks are greater, especially for some private enterprises, such as sales difficulties, financing difficulties and turnover difficulties. The operating pressure is increasing and the short-term liquidity risks are still outstanding.

　　(3) Default and litigation risk

　　In the case of difficult liquidity, with the overdue debt and the gradual increase of litigation, the judicial risk of debt also increases accordingly.

In February, 2021, new york Mayor’s Food Policy Office released the first 10-year food policy plan "NYC: A 10-year food policy plan". This series consists of seven articles, translated by the team of "the other mountains all appear dwarfs under the sky.-Sustainable City and Transportation". This is the fourth article, which introduces the second goal of new york’s ten-year food policy plan: to make new york’s food economy promote economic development and provide good jobs.

New york has more than 40,000 food enterprises, employing hundreds of thousands of workers. It is difficult to calculate the exact number of workers, because there is no reliable data to explain the number of workers in the "gig economy" in food distribution. These workers and enterprises are vital to the health and well-being of new york people. The food industry is an important source of employment and property income for colored people and immigrant communities (79% of food workers in new york are colored people, including 43% Latinos and 21% Asians).

The catering industry is also very important to the city, because it is the main attraction of residents, workers and tourists, supporting many other industries, such as office employment in the central business district and attracting tourists. In fact, the catering industry is the key to making new york so attractive. Its economic contribution is also great. In 2019, the taxable sales of the catering industry reached nearly $27 billion.

However, working in the food industry or owning a business is extremely challenging. The food industry usually has a low profit margin, while the cost of running a business in new york is high. About 99% of food enterprises in the city are small enterprises with less than 100 workers, while 70% are micro enterprises with less than 10 workers. In addition, the wages of food workers are usually low, and they lack job security and mobility opportunities. Many deliverymen (an increasingly important part of the food industry) are considered as independent contract workers and cannot get the same protection and benefits as employees.

If new york wants to improve its food system, it must first support both food workers and food enterprises. The support for the two is not mutually exclusive, but mutually reinforcing. These strategies also focus on the future of food enterprises, including supporting a new ownership model that conforms to the principles of economic democracy and technological change.

Size of food enterprises in new york (calculated by number of employees). Cartography: the other mountains all appear dwarfs under the sky., the picture is from NYC Food Forward, only translated in Chinese.

Strategy 1: Protect the rights and interests of food practitioners　

Implementing fair scheduling method in fast food industry

New york will strictly implement the fast food fair scheduling laws, so as to optimize the fast food industry into a benign occupation with stable and predictable working hours and wages. Strong law enforcement will ensure that workers in fast food restaurants can arrange shifts fairly and even get overtime pay when the shift schedule is temporarily changed. Law enforcement will also ensure that workers in the fast food industry can settle down through regular shifts in high-mobility industries.

Provide financial and technical support for workers’ cooperatives

The cooperative model has a long history in the food field. Worker-owned cooperatives have yet to become a powerful tool for new york to accumulate assets and eliminate the gap between the rich and the poor. In order to meet the needs of food enterprises, new york will not only coordinate existing auxiliary projects to support cooperatives, such as Employee Ownership, but also explore innovative financial and technical support projects.

When it is not appropriate for the government to directly intervene in enterprises, the New York City Government will also explore cooperation with community-based organizations, business improvement areas (BID) and merchant associations, and provide support for cooperative organization efforts in five administrative regions.

Improve the situation of food workers.

New york will promote a series of state and federal bills to improve the situation of workers in the food industry, as listed below:

(1) Ensure that all employees in the food industry are included in the federal and state welfare plans;

(2) For employers who fail to protect workers’ health, abolish relevant laws that limit their responsibilities;

(3) Change the state regulations on tip pool sharing, and expand the scope of employees who participate in tip sharing, so that employees without tips can also get some sharing;

(4) To cope with emergencies, set up a hazard pay for grass-roots food workers.

Provide support to practitioners of food programs.

New york will make efforts to provide support to practitioners of food programs. Under the circumstance that the purchasing power is restricted by the current laws, new york will first ensure that food suppliers abide by the current labor laws and collect more labor-related information from food suppliers. In addition, new york will promote the revision of applicable laws and use food procurement power to optimize the working conditions of food practitioners.

Expand child care services to solve the problem of night care for children of food practitioners.

During the COVID-19 crisis, new york deeply realized the hard work and important role of food practitioners. Child care has been provided through the Regional Enrichment Centers "and child care programs throughout the city. With the gradual recovery of the city, existing facilities for childcare projects will be expanded or new projects will be created, including night and weekend care, which is the time when children need care most and parents are most inconvenient to take care of. Providing night and weekend child care will enable parents who often work at night and weekend classes to improve their work flexibility and reduce the cost of childcare.

Feasibility study on developing basic social security benefits

New york will conduct a feasibility study on the basic social security benefits for all food workers. This study will explore the potential partnerships among food practitioners, enterprises, community organizations and financial institutions. This project focuses on providing welfare protection such as pension and medical insurance for food practitioners. New york will also push the federal government to introduce a bill to provide full and fair social security benefits for all employees, regardless of their employers, workplaces or job nature.

Strategy 2: Simplify the process, encourage innovation and support small food enterprises.

Promote tax credits for small businesses.

New york will promote state legislation and establish a tax deduction mechanism for small businesses, including the food industry, to promote the recovery of small businesses in new york. Eligible enterprises with a total income of less than $1 million will receive a tax credit of 6% of their rent in 2021, with a maximum tax credit of $10,000.

Simplify the related processes of food enterprises

New york will review the regulations and enforcement procedures related to small food enterprises (including street vendors) to streamline the process. New york will improve efficiency as much as possible, and expand consolidated licensing and inspection services, so that simplified processes can benefit start-up and existing small food enterprises. The municipal government will also carry out innovation in matters related to food enterprises and increase opportunities for participation, especially cooperation with immigrant organizations.

Support the food enterprises of new york Housing Bureau.

New york will cooperate with enterprises and community organizations to expand the Food Business Pathways of new york Housing Bureau (NYCHA). The establishment of the Business Accelerator Program aims to enable residents of the public housing development project of new york Housing Bureau and those who hold the Class 8 housing clause subsidy voucher of new york Housing Bureau (note: the subsidy voucher program was established in 1978 to provide assistance to eligible low-and middle-income families in renting houses from private hands) to start and develop food business.

Promote the protection of food property and customer data.

The successful operation of food business relies more and more on the data of third-party providers. However, food enterprises often lack professional knowledge or the ability to use these services on favorable terms, and may not be able to obtain key information such as customer data. New york has convened a number of stakeholders to jointly promote initiatives to protect the data of food enterprises and customers, such as the "data bill of rights" for food enterprises and customers.

Support the needs of food enterprises and cooperatives

New york will convene stakeholders in the food industry to identify and design new projects to meet the special demands of food enterprises and non-profit organizations. New york City will then promote the effective implementation of these projects by the state and federal governments. This may include developing new financing and technical assistance programs to help mutual-help and self-operated workers’ cooperatives and small food enterprises.

Suppliers are more likely to participate in the urban procurement process.

New york will promote the smooth connection between potential food suppliers and the urban procurement process. PASSPort, a digital procurement portal in new york, will launch new functions to improve the procurement process. Including: simplifying the collection process, speeding up the issuance of invoices, improving transparency more widely and promoting cross-departmental cooperation.

In addition, new york will explore ways: using matchmaking tools and group buying strategies to increase the number of bids for urban food contracts; Expand technical support and guide the procurement process; Provide process navigator to assist small suppliers in the procurement bidding process; And explore to simplify the application process of M/WBE (note: M/WBE: minority and women-owned business enterprises, enterprises owned, operated and controlled by ethnic minorities and women).

Strategy 3: Help the next generation of food workers get high-quality jobs.

Launch a community recruitment plan for the food industry.

New york will use the current new york NYC plan and the proposed Community HireNYC Legislation to expand the recruitment demand, and set up good entry-level posts in the whole food procurement process, including food production, distribution, transportation and other related work.

New york will combine the existing and new training plans to provide human resources for suppliers, and require suppliers to provide interviews and employment opportunities for qualified low-income people. New york will also cooperate with anchor institutions to expand the number of high-quality entry-level jobs in food procurement, and pay special attention to core institutions in underserved communities.

Support food technology vocational training

New york’s partners in catering, manufacturing and industry will continue to keep pace with the technological upgrading of the industry. These partners will provide advice to small business service organizations (SBS) on the development of specific labor force and provide new technology training programs for industry practitioners. This can ensure that employees are at the forefront of technological change and that they learn new skills at work, rather than being replaced by new technologies.

Create and expand the career path of food practitioners

New york will ensure the prospect and "Qian Jing" of food industry, both warehouse workers and kitchen staff can be developed, and provide more training, certification and business plans for food practitioners.

Listed below:

(i) Expand training and entrepreneurship programs for commercial kitchens, such as the First Course NYC and Food Business Pathways in new york;

(ii) providing English as a Second Language services for non-native English-speaking food workers;

(iii) Cooperating with the industry to provide the US Department of Energy (DOE) vocational and technical education courses for practitioners in food production, processing, storage and distribution processes;

(iv) Linking youth training programmes with career paths;

(v) Explore the curriculum options of NYC Health Department’s Health Academy of new york Municipal Health Bureau, which is a labor force development center that provides food safety training for food practitioners.

Make a development plan for campus food practitioners

To provide the healthiest and freshest food for students in new york, well-trained practitioners are essential. New york will cooperate with academic circles and the private sector to provide accurate and comprehensive training courses for all school food managers. Training topics include but are not limited to: leadership skills, storage and organization, knife skills, use of tools and equipment, basic cooking skills, menu planning and food preparation. New york will also make an in-depth analysis of the current training programs to see if it is necessary to upgrade.

(This article was translated by the team of "the other mountains all appear dwarfs under the sky.-Sustainable City and Transportation" and checked and edited by The Paper. Translators: Lin Ruoran, Guo Yue, Hao Lu, Jin Yutong, Lei Lian, Lu Yating, Sun Yuting, Tang Hui, Yang Xiaohan, Yang Shasha, Yi Siqing, Zhou Jin, revisers: Xiang Xinyi, Liu Daizong. )

　　As the greatest industrial product in the 20th century, automobiles have greatly changed people’s lives, expanded their travel radius, brought great convenience to people and improved their quality of life. Everything is a double-edged sword, and life on wheels has both advantages and disadvantages.

　　However, with the growing demand for short-distance travel, a considerable number of domestic manufacturers are aiming at the blue ocean market of "Old Man Le", creating the dream of owning a luxury car with a price close to the people, avant-garde fashion and tens of thousands of yuan. A considerable number of "three noes" products were born, but the following problems are great traffic safety and personal safety hazards, driving on the road without a license and without a license, causing countless painful accidents. Here, Sina Auto appeals to consumers to buy cars legally and reasonably, not to buy low-speed old scooters easily, and not to go on the road illegally.

　　Is there really no other choice except the low-speed old scooter within 100,000 yuan? Of course not. Today’s article will recommend several pure electric vehicles that are affordable, small and lovely, can meet national laws, regulations and related policies, and can legally drive on the road.

　　Wuling Hongguang MINIEV

　　Official guide price: 28,800-46,800 yuan.

　　It is true that Wuling will build whatever the people need! Wuling Hongguang MINIEV achieved sales of more than 420,000 vehicles from January to December in 2021, which shows how accurate Wuling is in controlling consumer demand. After all, only when the buyer’s market is strong enough can the seller’s excellent data be achieved.

　　It seems no exaggeration to regard Wuling Hongguang MINIEV as a national electric vehicle. As a mini-car, Hongguang MINIEV adopts the layout of front and rear drive and three doors and four seats. The permanent magnet synchronous motor it carries can provide the maximum torque of 85Nm and the maximum power of 20kW. The NEDC mileage of the model equipped with ternary lithium battery is 120km, and the cruising range of the model equipped with lithium iron phosphate battery is 170km. At the same price, it is wise to buy a national car that can legally go on the road.

　　BYD Dolphin

　　Official guide price: 96,800-12,480 yuan

　　BYD Dolphin occupies many firsts of BYD brand, such as: the first model adopting BYD’s brand-new Logo, the first marine car model, the first model based on E platform 3.0 and so on. The appearance design of BYD Dolphin is eye-catching, and the bionic design all over the car is easy to get the favor of soft and cute girls.

　　BYD Dolphin has certain advantages in size. It is a typical small car, and its actual interior space is more advantageous than other fuel vehicles of the same level. If you travel daily, the model equipped with 70kW motor can meet the requirements. If you have higher requirements for the performance of the vehicle, you can choose the Dolphin Knight Edition equipped with 130kW motor. Entry-level models can achieve a NEDC mileage of 301km, and models equipped with larger battery packs have a NEDC mileage of over 400km. The rotating screen on the center console is enough to prove the inner strength of BYD Dolphin. Is such a car attractive enough?

　　Ou la hei Mao

　　Official guide price: 69,800-84,800 yuan.

　　In the past two years, the word "slap cat" has appeared more and more frequently. Almost everyone has a few friends who are keen on slapping cats in their circle of friends. If you drive a car with the word "cat" in its name, will it be as happy as slapping cats? The brand of Euler has prepared such a black cat for consumers that can make you sigh.

　　Euler Black Cat has a retro appearance. As an entry-level model of Euler brand, Black Cat is equipped with two kinds of motors with 35kW and 40kW power, and adopts the layout of front drive and four doors and five seats. The cruising range of the entry-level model NEDC is 301km, the cruising range of the main model NEDC is 351km, and the cruising range of the top model NEDC is 401km. In the fast charging mode, it can be charged to 80% in half an hour, which is very cost-effective.

　　Chery new energy xiaomayi

　　Official guide price: 66,900-82,900 yuan.

　　Little Ant is an entry-level model of Chery New Energy, and it has captured a large number of young consumers from the listing place, including many young ladies with extremely high values. With its lovely appearance and cruising range of more than 300km, it has gained a considerable number of orders.

　　It is easy to get confused about the names of the micro-sugar version, the semi-sugar version and the full-sugar version when I look at the configuration table for the first time. In fact, different sugars represent different configurations. The sweeter the configuration, the higher the configuration. All the models are equipped with ternary lithium batteries or lithium iron phosphate batteries in different configurations. Which one to choose depends entirely on personal preferences. In addition, the small ants adopt the layout of rear drive, which can provide driving pleasure. Only after they have tried it can they know whether it is as sweet as a cup of milk tea.

　　Nezha v

　　Official guide price: 62,900-12,080 yuan.

　　Nezha V is a rare small SUV pure electric vehicle in this class. After seeing enough mini or small hatchback, is this cute small pure electric SUV more appetizing?

　　Nezha V is equipped with a 40kW or 55kW permanent magnet synchronous motor. The NEDC cruising range can be 301km for the standard cruising model and 401km for the long cruising model. The layout of the front driver has made great contribution to the trunk volume of Nezha V. In the fast charging mode, it only takes half an hour to charge to 80%.

　　Zero run T03

　　Official guide price: 68,900-84,900 yuan.

　　Compared with other models, the zero-run T03 may have a lower brand awareness, but it is the fastest charging model in the slow charging mode among all the models recommended today. It takes only 2.75 hours for the entry-level model and 3.5 hours for other models to charge to 100%.

　　The design of the zero-run T03 is very classy, and it is easy to be recognized as an imported or joint-venture brand. It is worth noting that only the entry-level model of zero-run T03 is equipped with 55kW motor, and the cruising range of NEDC is 301km, while other models are equipped with 80kW motor, and the cruising range of NEDC reaches 401Km, which is not common in this level.

　　Baojun KiWi EV

　　Official guide price: 69,800-89,800 yuan.

　　Baojun KiWi EV is the most futuristic model among all the recommended models today. The two grooves on the bumper are very suitable for sitting in the front of the car to get a group of photos that are highly praised in the circle of friends. The rich body color matching is in line with the pursuit of personalized body color by young consumers.

　　Baojun KiWi EV is equipped with a 40kW permanent magnet synchronous motor, with a cruising range of NEDC of 305km, which can be charged to 80% in one hour in fast charging mode and 100% in slow charging mode. The battery life and charging efficiency are not excellent, but in the face of Baojun KiWi EV’s sci-fi modeling, it is quite necessary to forget the cost performance for a short time.

　　Redding mango

　　Official guide price: 29,800-56,900 yuan.

　　Everyone may have some models of the Reading brand, but Bidewen behind the Reading brand is famous, especially in the sales of electric bicycles. After finding the new target, the mango model launched by Reading Electric Vehicle, with a starting price of 29,800 yuan, has become the most direct competitor of the elderly scooter that cannot legally go on the road together with Wuling Hongguang MINIEV.

　　As Reading, who has little experience in building cars, Mango models are equipped with 25kW and 35kW motors, and only the top models equipped with 35kW motors support fast charging mode. Other models can only be charged through slow charging mode, and the charging rate is 100% in 8 hours. The cruising range of NEDC is 130km, 200km and 335km for top models with different battery capacity. Although the data is not excellent, the biggest advantage of reading mango is that the starting price is close to the people.

　　() It is planned to spend 6.65 billion yuan to acquire the control right of Huitai Medical, and join forces to cultivate the country’s heavy weapon in the cardiovascular field.

　　On the evening of January 28th, Mindray Medical, a leading domestic medical device company, announced that it planned to acquire the control right of Huitai Medical, a listed medical device company in science and technology innovation board, by means of "agreement transfer+voting right" with its own funds of 6.65 billion yuan, so as to quickly lay out the subdivision track in cardiovascular field.

　　According to the acquisition plan, relevant entities such as the actual controller of Huitai Medical intend to transfer 14.12 million shares of Huitai Medical to Shenmai Control, a subsidiary of Mindray Medical, through agreement transfer, accounting for 21.12% of the company’s total share capital. At the same time, Cheng Zhenghui, the controlling shareholder and actual controller of Huitai Medical, will also give up the voting rights of the 10% shares still held.

　　At the same time as the transfer of this agreement, Shenzhen Maikong intends to acquire all 0.12% general partnership interests of Zhuhai Tongsheng held by Chenyi Hongqi (Mindray Medical holds 99.88% limited partnership interests of Zhuhai Tongsheng), and Zhuhai Tongsheng currently holds 3.49% shares of Huitai. In the end, if all the acquisition plans are successfully implemented, Mindray Medical will hold a total of 24.61% shares of Huitai Medical through its subsidiary Shenmai Control and its concerted action, Zhuhai Tongsheng, and become the largest shareholder of Huitai Medical.

　　6.65 billion yuan acquisition broke into the cardiovascular super track

　　For a long time, the field of medical devices has shown the industry characteristics of being strong and persistent. In addition, there are many subdivided tracks and the technology and channel synergy between tracks is limited. After the development of enterprises in the industry enters a certain stage, they all need to rely on extension mergers and acquisitions to cultivate new growth points and continue to expand their business boundaries, which is also true for Mindray Medical, the industry leader.

　　According to the data of comprehensive industry research report, the global market scale of cardiovascular field has reached 56 billion US dollars, and the market scale of China has also exceeded 50 billion RMB, ranking second in the global and domestic medical device market scale, second only to the field of in vitro diagnosis. In the context of the aging population, the market growth rate in cardiovascular field is significantly higher than that in other fields.

　　Mindray Medical hopes to quickly cut into the cardiovascular track under the tide of aging population by acquiring the controlling stake of Huitai Medical.

　　According to public information, as the acquired object, Huitai Medical has been focusing on the cardiovascular track for many years. In the domestic cardiovascular market monopolized by foreign brands, it has achieved a stable position in the segmentation fields such as cardiac electrophysiology, coronary artery access and peripheral vascular intervention, and mastered the full-line R&D and production capacity from upstream raw materials to products. It is a leading enterprise in the domestic cardiovascular field.

　　Among them, in the field of electrophysiology, the electrophysiology electrode catheter and controllable radiofrequency ablation catheter under Huitai Medical, as well as the floating temporary pacing electrode catheter approved for listing in 2020, are the first domestic products to obtain relevant registration certificates, and are recognized as national key new products by the Ministry of Science and Technology. In the field of vascular intervention, Huitai Medical has been involved in coronary artery access and peripheral vascular intervention, and a number of research and development products have filled the domestic clinical gaps.

　　Breakthrough innovative products have also brought rapid performance growth to Huitai Medical. In 2023, the company expects to achieve a net profit of 510-565 million yuan, a year-on-year increase of 42%-58%. The company’s value has also been recognized by market investors, and its share price has been stable above 300 yuan/share for a long time, ranking first in science and technology innovation board.

　　In order to get the leading position in this cardiovascular field, Mindray Medical has also made real money. It is understood that the comprehensive cost of this acquisition is about 450 yuan per share, which is about 25% higher than the latest closing price of Huitai Medical.

　　In this regard, Mindray Medical explained in the announcement that the starting point and timing of the acquisition of control rights are based on the company’s future strategic development direction and rhythm, aiming to help Mindray Medical quickly cut into the cardiovascular track by acquiring outstanding domestic companies and make positive contributions to Mindray’s long-term rapid growth.

　　Buying control rights at a premium is also a common operation in the capital market. Referring to the cases of transfer of control rights in Shanghai and Shenzhen Stock Exchanges since 2021, the average premium rate reached 29.58%, among which the average premium rate of medical-related cases reached 32.84%. In addition, in recent years, the average premium rate reached 34.43% in the cases of the transfer of control rights in the field of non-pharmaceutical medical care and health in overseas markets with a transaction scale of more than 500 million US dollars. In addition, from the perspective of Mindray Medical’s cash flow, as of the end of September 2023, the balance of the company’s monetary funds was 19.667 billion yuan, and the transaction amount was less than 1/3 of the book funds, which did not pose great pressure.

　　Extension acquisition gives birth to a new domestic leader.

　　In recent years, Mindray Medical has paid special attention to the driving effect of extended mergers and acquisitions on the company’s development. In 2021, the company acquired HyTest Bio, a world-renowned company in the field of IVD raw materials, and realized the independent control of core technologies in the field of IVD raw materials. In 2023, Mindray Medical once again completed the acquisition of DiaSys Holdings in Germany, and successfully built a global supply chain platform for in vitro diagnostic products, laying the foundation for the full internationalization of IVD business.

　　From the above acquisition cases, it can be found that Mindray Medical always hopes to go deep into the field and intensively cultivate new works with the role of industrial investment integrator, which will bring product R&D innovation and direct improvement of production and sales capabilities for both parties. The acquisition of Huitai Medical will also bring considerable market imagination to the two companies.

　　In the future, based on the rich experience of Mindray Medical and Huitai Medical in the field of medical equipment and consumables, a brand-new pattern of "Mindray Medical Equipment+Huitai Medical Consumables" is coming out. Mindray’s strong product engineering and system integration capabilities are also expected to further improve the performance of Huitai medical products. Based on Mindray Medical’s in-depth overseas market sales service system and different levels of customer resources, Huitai Medical’s cutting-edge innovative products can also be sold to a broader international market.

　　It can be said that the combined competitive advantage and cost-effective advantage brought by the combination of strong and powerful forces are becoming the direct weapon for the products of the two companies to break through the global market. The industrial integration with complementary resources is also expected to give birth to a new leader in the industry and open a new export market for domestic medical devices from the cardiovascular track.

　　(): In 2023, the cumulative sales volume of tap water was 236 million cubic meters, a year-on-year decrease of 2.71%.

　　Jiangnan Water Affairs announced the operating data. In 2023, the company accumulated 262 million cubic meters of tap water supply, a year-on-year decrease of 2.22%. The cumulative sales volume of tap water was 236 million cubic meters, a year-on-year decrease of 2.71%.

　　The controlling shareholder and actual controller of Youfa Group released the pledge of 121 million shares.

　　Youfa Group announced that on January 26 and 29, 2024, the company received notices from controlling shareholders and actual controllers Li Maojin, Chen Kechun and Liu Zhendong, and pledged its 121 million shares in Xinyin Wealth Management Co., Ltd. to be released. On January 26 and 29, 2024, both parties completed the procedures for releasing the above-mentioned restricted shares in China Securities Depository and Clearing Co., Ltd.

　　Huaibei Mining Industry: In 2023, the sales volume of commercial coal decreased by 5.27% year on year.

　　() Announcement, in 2023, the output of commercial coal was 21,973,400 tons, down 4.06% year-on-year; The sales volume of commercial coal was 17.832 million tons, down 5.27% year-on-year.

　　New Huangpu: Declare and issue public offering REITs for affordable rental housing.

　　() Announcement, the company intends to carry out the application and issuance of public offering of affordable rental housing-real estate investment trust fund in infrastructure field.

　　Weichuang Electric: It is planned to build a high-end electrical equipment production base project in Changzhou Zhonglou Economic Development Zone.

　　Weichuang Electric announced that the company signed the Investment Cooperation Agreement with the Changzhou Zhonglou Economic Development Zone Management Committee, and plans to build a high-end electrical equipment production base project in Changzhou Zhonglou Economic Development Zone, Jiangsu Province, with a total planned investment of 500 million yuan.

　　New Huangpu: It is planned to declare and issue public offering REITs for affordable rental housing.

　　On the evening of January 29th, New Huangpu announced that in order to actively respond to the national housing policy of renting and selling at the same time, effectively revitalize the existing assets, form a virtuous circle of existing assets and new investment, and create important opportunities for promoting the rolling development of main business investment, the company plans to publicly raise the real estate investment trust funds (REITs) in the field of affordable rental housing-infrastructure (hereinafter referred to as "public REITs for affordable rental housing").

　　Weichuang Electric: It is planned to invest 500 million yuan to build a high-end electrical equipment production base project.

　　Weichuang Electric announced on the evening of January 29th that the company and Changzhou Zhonglou Economic Development Zone Management Committee signed the Investment Cooperation Agreement, and planned to build a high-end electrical equipment production base project in Changzhou Zhonglou Economic Development Zone, Jiangsu Province. The total investment of the project is 500 million yuan, which is used to introduce high-voltage motors, transformers, water coolers, vibration platforms, incubators and other equipment, mainly engaged in high-voltage frequency converters, multi-transmission frequency converters and other businesses.

　　New Huangpu plans to declare and issue public offering REITs for affordable rental housing.

　　The new Huangpu announced that the company held the fourth meeting of the ninth board of directors on January 27, 2024, and reviewed and approved the Proposal on the Application and Issuance of Public Offering REITs for Affordable Rental Housing.

　　It is reported that the company intends to select the leased housing project of plot 02-03A-01a, Unit MHPO-0306, Meilong Town, Minhang District (referred to as "Meilong Community Project") as the underlying asset for the first time to declare and issue public offering REITs for affordable rental housing (the final specific project name is subject to the project declaration document). Meilong Community Project started construction in April 2020, obtained the certification of affordable rental housing in June 2021, completed the overall completion acceptance procedures in November 2022, and officially entered the market for supply in February 2023.

　　Warner Pharmaceutical Factory: Received the Pharmaceutical Registration Certificate of Compound Polyethylene Glycol Electrolyte Powder (Ⅲ).

　　Warner Pharmaceutical Company announced on the evening of January 29th that it had received the Pharmaceutical Registration Certificate of Compound Polyethylene Glycol Electrolyte Powder (III) approved and issued by National Medical Products Administration. Compound Polyethylene Glycol Electrolyte Powder (III) was used for colon cleaning preparation of patients before the following situations: endoscopy or radiological examination; Colon surgery.

　　Weichuang Electric plans to build a high-end electrical equipment production base project in Changzhou with a total investment of 500 million yuan.

　　Weichuang Electric announced that the company signed the Investment Cooperation Agreement with the Changzhou Zhonglou Economic Development Zone Management Committee, and planned to build a high-end electrical equipment production base project in Changzhou Zhonglou Economic Development Zone, Jiangsu Province, and set up a subsidiary in Changzhou Zhonglou Economic Development Zone. The total investment of the project is 500 million yuan, which is used to introduce high-voltage motors, transformers, water coolers, vibration platforms, incubators and other equipment, mainly engaged in high-voltage frequency converters, multi-transmission frequency converters and other businesses.

　　Warner Pharmaceutical Factory: Received the Pharmaceutical Registration Certificate of Compound Polyethylene Glycol Electrolyte Powder.

　　Warner Pharmaceutical Factory announced that it had received the Pharmaceutical Registration Certificate of Compound Polyethylene Glycol Electrolyte Powder approved and issued by National Medical Products Administration, and the compound Polyethylene Glycol Electrolyte Powder was used for colon cleaning preparation of patients before the following situations: endoscopy or radiological examination; Colon surgery.

　　Warner Pharmaceutical Company obtained the registration certificate of compound polyethylene glycol electrolyte powder (Ⅲ).

　　Warner Pharmaceutical Company announced that it had received the Pharmaceutical Registration Certificate of Compound Polyethylene Glycol Electrolyte Powder (Ⅲ) approved and issued by National Medical Products Administration.

　　It is reported that compound polyethylene glycol electrolyte powder (ⅲ) is used for colon cleaning preparation of patients before the following situations: endoscopy or radiological examination; Colon surgery. This product is suitable for adults. Polyethylene glycol (4000) is a long-chain polymer, with which water molecules are bound by hydrogen bonds. After taking this medicine orally, the volume of intestinal fluid increased. These unabsorbed intestinal fluids make the medicine have catharsis characteristics.

　　Dayuan Pump Industry plans to transfer two cases of land use rights and related assets for 140 million yuan.

　　() Announced that the company intends to transfer two state-owned land use rights, buildings and other assets located in Danya Industrial Zone, zeguo town, Wenling City, Zhejiang Province to Zhejiang Lumei Pump Technology Co., Ltd. According to the assets appraisal report issued by Taizhou Xingyuan Assets Appraisal Co., Ltd. (Taixingping (2024) No.26) and through negotiation between both parties, the transaction price is determined to be RMB 140 million (including tax).

　　It is reported that according to the agreement, the relevant assets will be delivered in 2024. According to preliminary calculations, after the completion of this transaction, it is expected to increase the profit before corporate income tax in the current year by about RMB 50 million.

　　Dayuan Pump Industry: It is planned to sell some assets for 140 million yuan.

　　Dayuan Pump Industry announced on the evening of January 29th that it intends to transfer two state-owned land use rights, houses and buildings above the land to Zhejiang Lumei Pump Technology Co., Ltd. (hereinafter referred to as "Lumei Technology"). Through negotiation between both parties, it is determined that the transaction price is 140 million yuan (including tax), and the related assets will be delivered in 2024. After preliminary calculation, it is estimated that the profit before enterprise income tax will increase by about 50 million yuan in the current year.

　　Hengrui Pharma: The subsidiary product tacrolimus sustained-release capsules was approved by the US FDA.

　　() Announcement: Chengdu Sheng Di Pharmaceutical Co., Ltd., a subsidiary of the company, recently received a notice from the FDA that the company’s application for a simple new drug for tacrolimus sustained-release capsules (ANDA, American generic drug application) has been approved, which is the first generic drug approved by the FDA in the United States and the first generic product in China.

　　() A general meeting of shareholders will be held on February 27th to consider the proposal of electing Ms. Wang Yongting as a non-independent director of the eighth board of directors of the company.

　　Fuling Electric Power announced that the first extraordinary shareholders’ meeting will be held on February 27, 2024, and online voting will be conducted on the same day. Date of record is February 20th, and investors who hold shares of Fuling Power can vote after the market closes on that day.

　　Meeting place: Company meeting room at No.20 Wangzhou Road, Fuling District, Chongqing.

　　A total of 1 proposal was audited at this general meeting of shareholders, as follows:

　　1. Proposal on electing Ms. Wang Yongting as a non-independent director of the eighth board of directors of the company.

　　Hengrui Pharma: Tacrolimus sustained-release capsules were approved by FDA.

　　Hengrui Pharma announced that Chengdu Sheng Di Pharmaceutical Co., Ltd., a subsidiary of the company, received a notice from the US Food and Drug Administration (hereinafter referred to as "FDA") that the company’s application for a simple new drug for tacrolimus sustained-release capsules (ANDA, that is, the application for generic drugs in the United States) has been approved, which is the first generic drug approved by the US FDA and the first generic product in China.

　　In vivo and in vitro experiments have proved that tacrolimus is a powerful immunosuppressant, which can inhibit the production of cytotoxic lymphocytes, the activation of T cells, the proliferation of T helper cell-dependent B cells, the production of lymphatic factor (such as IL-2, IL-3 and IFN-γ) and the expression of IL-2 receptor.

　　The controlling shareholders of Guizhou Sanli and their concerted actions reduced their holdings by 2.9576%.

　　() Announcement was issued. As of the disclosure date of this announcement, the reduction period has expired, and the controlling shareholders and their concerted actions have reduced their holdings by a total of 12,122,300 shares, accounting for 2.9576% of the company’s total share capital.

　　Shanghai Wei, the major shareholder of Sanyou Medical, is reducing its shareholding by 1.35%.

　　Sanyou Medical announced that during the period from January 25th to January 29th, 2024, the shareholder of the company, Shanghai Zhengzheng Enterprise Management Partnership (Limited Partnership) ("Shanghai Zhengzheng"), reduced its shareholding by 3,344,600 shares, accounting for 1.35%, and its shareholding ratio decreased from 7.07% to 5.72%.

　　The approval of Goodwin’s fixed stock has expired.

　　Goodway announced that on February 13th, 2023, the company received the "Reply on Agreeing to the Registration of Goodway Technology Co., Ltd. to Issue Shares to Specific Objects" issued by China Securities Regulatory Commission (No.219, ZJK [2023]), and approved the company’s application for the registration of issuing shares to specific objects, with 12 replies from the date of agreeing to register (January 31st, 2023).

　　It is reported that the company has been actively promoting the issuance of this non-public offering of shares after obtaining the approval. However, due to various reasons such as changes in the capital market environment and the timing of issuance, the company failed to implement this non-public offering of shares within the validity period of the approval, and the approval will automatically expire.

　　Xuefeng Technology: 65.87 million restricted shares will be listed and circulated on February 5.

　　() Announced that the company’s stock listing type is non-public offering of shares. The total number of shares listed and circulated this time is 65.87 million shares, and the date of listing and circulation this time is February 5, 2024.

　　The total provision for impairment of proposed assets of Danhua Technology in 2023 is 98,774,200 yuan.

　　() Announcement, the company intends to make provision for impairment of assets with possible signs of impairment within the scope of consolidated statements as of December 31, 2023, totaling 98,774,200 yuan.

　　Sinopharm Modern: Lidocaine Hydrochloride Injection, a subsidiary, passed the consistency evaluation of generic drugs.

　　() Announcement: Shanghai Hyundai Hasen Pharmaceutical Co., Ltd., a holding subsidiary, received the Notice of Approval for Drug Supplement Application issued by National Medical Products Administration, and approved lidocaine hydrochloride injection to pass the consistency evaluation of generic drug quality and efficacy.

　　Sinopharm Modern: Lidocaine Hydrochloride Injection, a holding subsidiary, passed the conformity evaluation of generic drugs.

　　On January 29, Sinopharm Hyundai announced that the holding subsidiary lidocaine hydrochloride injection passed the consistency evaluation of generic drugs; The holding subsidiary obtained the registration certificate of ambroxol hydrochloride oral solution drug.

　　Lianhuan Pharmaceutical received the results of GMP compliance inspection.

　　() Announcement: The company learned from the website of Jiangsu Provincial Drug Administration that the Notice of GMP Compliance Inspection Results, and conducted good manufacturing practice compliance inspection and evaluation on Jiangsu Lianhuan Pharmaceutical Co., Ltd. according to the relevant provisions of the Drug Administration Law and the Measures for the Supervision and Administration of Drug Production, and the results met the requirements.

　　This is the first time that Fluhydrocortisone Acetate has passed the GMP compliance inspection. The GMP compliance inspection of Troxerutin and Terfenadine Granules is the certification of resumed production varieties after the change of production site, and they are all collinear with other varieties, and no new investment has occurred.

　　Kang Enbei: Repurchase 5,471,800 shares of the company for the first time by centralized bidding transaction.

　　On January 29th, () announced that the company repurchased 5,471,800 A shares of the company through the trading system of Shanghai Stock Exchange by centralized bidding, accounting for 0.21% of the company’s total share capital of 2,570 million shares. The highest price of the repurchase transaction was RMB 4.7 yuan/share, and the lowest price was RMB 4.57/share. The total amount of funds paid was RMB 25,265,300 (excluding stamp duty, trading commission and other transactions)

　　According to the previously disclosed Proposal on Repurchase of Company’s Shares by Centralized Bidding, the company intends to use its own funds to repurchase the company’s shares by centralized bidding through the trading system of Shanghai Stock Exchange for the implementation of equity incentives. The total amount of funds to be repurchased is not less than RMB 200 million (inclusive) and not more than RMB 400 million (inclusive); The price of repurchased shares shall not exceed RMB 7 yuan/share (inclusive).

　　(Shanghai Stock Exchange)

　　Juhua Co., Ltd.: The refrigerant revenue in 2023 was 5.807 billion yuan, a year-on-year decrease of 15.05%.

　　() Announced the main operating data from January to December, 2023. The revenue of the company’s main product fluorine chemical raw materials was 1.05 billion yuan, a year-on-year decrease of 20.47%; Refrigerant revenue was 5.807 billion yuan, a year-on-year decrease of 15.05%.

　　Mindray Medical intends to be the main enterprise in the field of electrophysiology, Huitai Medical.

　　Mindray Medical announced on the evening of January 28th that the company intends to acquire 14.12 million ordinary shares of Huitai Medical held by Cheng Zhenghui, Cheng Ling, Dai Zhenhua and other transferors by means of agreement transfer, accounting for 21.12% of the total share capital of the target company, with a total transfer amount of RMB 6.652 billion.

　　The main business of Huitai Medical is the research and development, production and sales of products such as electrophysiology, coronary artery access and peripheral vascular intervention.

　　At the same time, Cheng Zhenghui, the actual controller of Huitai Medical, promised to voluntarily, permanently and irrevocably give up the voting rights of 10% of the shares of the target company from the date when he received all the share transfer price according to the agreement.

　　In addition, Shenmai Control also intends to acquire all 0.12% general partnership interests of Zhuhai Tongsheng Investment Partnership (Limited Partnership) held by Chenyi Hongqi (Beijing) Consulting Co., Ltd. (hereinafter referred to as "Zhuhai Tongsheng"), and Zhuhai Tongsheng currently holds 3.49% shares of Huitai Medical.

　　After the completion of the above three transactions, Shenmaikong will directly hold 14.12 million shares of Huitai Medical, accounting for 21.12% of the total share capital of Huitai Medical; Zhuhai Tongsheng, the concerted action person of Shenzhen Maikong, directly holds 2,335,300 shares of Huitai Medical, accounting for 3.49% of the total share capital of Huitai Medical. Shenzhen Maikong and its concerted action person Zhuhai Tongsheng hold 16,455,600 shares of Huitai Medical, accounting for 24.61% of the total share capital of Huitai Medical. The controlling shareholder of Huitai Medical will be changed to Shenzhen Maikong, and the actual controllers will be changed to Li Xiting and Xu Hang.

　　The proportion of UFIDA network repurchase reached 1.01%, costing 666 million yuan.

　　() Announcement: As of January 29, 2024, the company has repurchased 34,654,400 shares, accounting for 1.0137% of the company’s current total share capital, an increase of 0.1202% compared with the last disclosure. The highest purchase price is 23.39 yuan/share, the lowest purchase price is 12.35 yuan/share, and the total amount paid is 666 million yuan (no

　　Anfu Technology: Shareholders intend to reduce their shares by no more than 1%.

　　() On the evening of January 29th, it was announced that Zhang Jinghong, a shareholder holding 5.77% of the shares, planned to reduce his shareholding by no more than 1%.

　　TBEA: The holding company plans to invest in the construction of Xi ‘an digital factory project.

　　On January 29th, () announced that the holding company TBEA Xi ‘an Electric Technology Co., Ltd. planned to invest in the construction of Xi ‘an digital factory project with a total investment of 1.16 billion yuan.

　　The Asian strategy of Goldman Sachs, the shareholder of Xianheng International, has reduced its holdings by 1.99% and reduced its holdings by more than half.

　　() Announcement was issued. On January 29, 2024, the company received the Letter of Notice on the Progress of Share Reduction issued by Goldman Sachs Asia Strategic Pte. Ltd. (hereinafter referred to as "Goldman Sachs Asia Strategy"). As of January 29, 2024, Goldman Sachs Asia Strategy had reduced its shareholding by 8.195 million shares, accounting for 1.99% of the company’s total share capital, without centralized bidding. The number of this reduction plan has exceeded half, and the implementation of this reduction plan has not yet been completed.

　　Longji Green Energy: It is planned to implement the first increase on January 30, 2024.

　　() Announcement, the company received a notice from the chairman, Mr. Zhong Baoshen, that it intends to implement its first increase on January 30, 2024, and will continue to implement its increase plan in the future.

　　Longji Green Energy: Zhong Baoshen, Chairman of the Board of Directors, plans to implement the first increase on January 30, 2024.

　　Longji Green Energy announced that it was previously disclosed that Chairman Zhong Baoshen plans to increase the company’s shares in a way allowed by the Shanghai Stock Exchange system within 12 months from October 31, 2023, with an increase of not less than 100 million yuan and not more than 150 million yuan. On January 29, 2024, the company received a notice from Chairman Zhong Baoshen that it planned to implement its first increase on January 30, 2024, and will continue to implement its increase plan.

　　Langfang development: Evergrande Real Estate’s shares in the company have been waiting for freezing, accounting for 20% of the company’s total share capital.

　　() Announcement: As of the date of this announcement, Evergrande Real Estate holds 76,032,050 shares, accounting for 20% of the company’s total share capital. After the shares were frozen, the cumulative number of shares held by Evergrande Real Estate was 76,032,050, accounting for 100% of the total shares held by Evergrande and 20% of the total share capital of Evergrande.

　　Longji Green Energy: The chairman of the board plans to implement the first increase on January 30, 2024.

　　Longji Green Energy announced on the evening of January 29th that Chairman Zhong Baoshen plans to increase the company’s shares within 12 months from October 31st, 2023 through the way permitted by the Shanghai Stock Exchange system, and the amount of increase is not less than 100 million yuan and not more than 150 million yuan. On January 29, 2024, the company received a notice from Zhong Baoshen that it planned to implement its first increase on January 30, 2024, and will continue to implement its increase plan.

　　() A shareholders’ meeting will be held on February 19th to consider the proposal on the settlement of the initial public offering of shares and the permanent replenishment of working capital with the remaining raised funds.

　　Guansheng shares announced that the second extraordinary general meeting of shareholders will be held on February 19, 2024, and online voting will be held on the same day. Date of record falls on February 6th, and investors who hold Guansheng shares after the market closes on that day can vote.

　　Venue: No.1 Gaoxiang Road, Ouhai High-tech Industrial Park, Wenzhou City, Zhejiang Province.

　　A total of 1 proposal was audited at this general meeting of shareholders, as follows:

　　1. Proposal on the Settlement of the Initial Public Offering of Shares and the Permanent Supplement of the Funds Raised from the Savings to the Working Capital.

　　Top Group will hold a shareholders’ meeting on February 19th to consider two proposals.

　　() Announce that the first extraordinary general meeting of shareholders will be held on February 19, 2024, and online voting will be conducted on the same day. Date of record is February 6th, and investors who hold shares of Top Group can vote after the market closes on that day.

　　Venue: Meeting Room C-105, Company Headquarters, No.268 Yuwangshan Road, Beilun District, Ningbo.

　　A total of two proposals were audited at this general meeting of shareholders, as follows:

　　1. Proposal on increasing the amount of entrusted financing for idle raised funds.

　　2. Proposal on adding idle raised funds to supplement the liquidity line.

　　() The net profit for 2023 was reduced by 320 million to 420 million yuan, which plummeted by 69% to 77% year-on-year.

　　Weiwei Gaoxin disclosed the announcement of pre-reduction of annual results in 2023. The company expects the net profit attributable to shareholders of listed companies to be 320 million yuan to 420 million yuan during the reporting period, down 76.63% to 69.33% year-on-year. The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 200 million yuan to 300 million yuan, down 85.41% to 78.12% year-on-year.

　　During the reporting period, the competition in the polyvinyl alcohol (PVA) industry intensified, and the market changed greatly. The domestic and foreign trade market prices of the main products, vinyl acetate and polyvinyl alcohol, fell by about 40%, and the market prices of other products also fell to varying degrees, narrowing the profit margin.

　　Consistency evaluation of Sinopharm Hasen drugs, a subsidiary of Sinopharm Modern Holdings, passing generic drugs.

　　Sinopharm Hyundai announced that Shanghai Hyundai Hasen (Shangqiu) Pharmaceutical Co., Ltd. (hereinafter referred to as Sinopharm Hasen), a holding subsidiary of the company, received the Notice of Approval for Drug Supplement Application approved by National Medical Products Administration, and approved lidocaine hydrochloride injection (5ml：0.1g) to pass the consistency evaluation of generic drug quality and efficacy.

　　It is reported that lidocaine hydrochloride injection is a local anesthetic and antiarrhythmic drug. It is mainly used for infiltration anesthesia, epidural anesthesia, surface anesthesia (including mucosal anesthesia during thoracoscopy or abdominal surgery) and nerve conduction block. Can be used for ventricular premature beats and ventricular tachycardia after acute myocardial infarction, and can also be used for digitalis poisoning, cardiac surgery and ventricular arrhythmia caused by cardiac catheter.

　　Langfang development: Evergrande Real Estate’s shares in the company have been waiting for freezing, accounting for 20% of the total share capital.

　　Langfang Development Announcement: As of the date of this announcement, Evergrande Real Estate holds 76,032,050 shares, accounting for 20% of the company’s total share capital. After the shares were frozen, the cumulative number of shares held by Evergrande Real Estate was 76,032,050, accounting for 100% of the total shares held by Evergrande and 20% of the total share capital of Evergrande.

　　On January 29th, 2024, the company received the Notice of Judicial Freeze and Judicial Transfer of Equity from China Securities Depository and Clearing Co., Ltd. Shanghai Branch (No.0129-1 in 2024) and the Notice of Assistance in Execution from Lianyungang Intermediate People’s Court [(2023) Su 07 Zhi No.285]. Due to the dispute over the loan contract between Lianyungang Cangwu Sub-branch of Agricultural Bank of China Co., Ltd. and Evergrande Real Estate Group Co., Ltd., the ruling of (2023) Su 07 Zhi No.285 made by Lianyungang Intermediate People’s Court of Jiangsu Province has taken legal effect, and 76,032,050 shares of the company held by Evergrande Real Estate are waiting to be frozen.

　　Dayuan Pump Industry: It is planned to sell some assets for 140 million yuan.

　　On the evening of January 29th, Dayuan Pump Industry announced that it planned to sell two state-owned land use rights, houses and buildings above the land in Danya Industrial Zone, zeguo town, Wenling City, Zhejiang Province to Zhejiang Lvmei Pump Technology Co., Ltd., with a total transaction price of 140 million yuan (including tax). Both parties to the transaction refer to the evaluation results and determine the transaction price through consultation. After the transaction is completed, it is estimated that the profit before enterprise income tax in the current year will be increased by about 50 million yuan, which will have a positive impact on the company’s profit in the relevant reporting period.

　　Weichuang Electric: Signed Investment Cooperation Agreement with Changzhou Zhonglou Economic Development Zone Management Committee.

　　On the evening of January 29th, Weichuang Electric announced that the company had signed the Investment Cooperation Agreement with the Changzhou Zhonglou Economic Development Zone Management Committee, and planned to build a high-end electrical equipment production base project in Changzhou Zhonglou Economic Development Zone, Jiangsu Province. The total planned investment of the project is 500 million yuan (subject to the actual investment in the end).

　　Haili Bio: Jiemen Bio, a wholly-owned subsidiary, obtained the invention patent certificate.

　　On the evening of January 29th, () announced that Shanghai Jiemen Biotechnology Co., Ltd. (hereinafter referred to as "Jiemen Biotechnology"), a wholly-owned subsidiary of the company, had recently received the invention patent certificate issued by China National Intellectual Property Administration, with the invention name: a serum-free medium suitable for the adherent growth of hybridoma cells. The acquisition of the above invention patents is the embodiment and extension of the important core technology of Jiemen Bio.

　　Antu Bio: It is planned to buy back shares at a price of 250-500 million yuan.

　　On January 29th, () announced that it planned to buy back shares at a price of 250-500 million yuan, cancel all of them and reduce the registered capital of the company. The repurchase price shall not exceed 60 yuan/share.

　　Longji Green Energy: Chairman Zhong Baoshen plans to increase his holdings for the first time on January 30th.

　　Longji Green Energy announced that the company received a notice from Chairman Zhong Baoshen that it plans to implement its first increase on January 30, 2024, and will continue to implement its increase plan. Longji Green Energy has previously disclosed that Chairman Zhong Baoshen plans to increase the company’s shares within 12 months from October 31, 2023, with an increase of not less than 100 million yuan.

　　Dayuan Pump Industry: The assets to be sold will increase the profit before enterprise income tax by about 50 million yuan.

　　Dayuan Pump Industry announced that the company intends to transfer two state-owned land use rights, buildings and other assets located in Danya Industrial Zone, zeguo town, Wenling City, Zhejiang Province to Zhejiang Lumei Pump Industry Technology Co., Ltd. The transaction price is 140 million yuan (including tax). According to preliminary calculation, after the completion of this transaction, it is expected that the profit before enterprise income tax will increase by about 50 million yuan in the current year.

　　Baosteel packaging: It is planned to buy back shares at a price of RMB 50 million to RMB 100 million.

　　() On the evening of January 29th, it was announced that it was planned to buy back shares at a price of 50 million yuan to 100 million yuan, and the upper limit of the repurchase price was planned to be no more than 7.66 yuan/share. This share repurchase is intended to be used for the continuous implementation of the equity incentive plan in the future.

　　Antu Bio: It is planned to buy back shares at a price of 250 million yuan-500 million yuan.

　　Antu Bio announced on the evening of January 29th that it plans to buy back its shares at a price of 250-500 million yuan, with the repurchase price not exceeding 60 yuan/share. All the repurchased shares will be cancelled and the registered capital of the company will be reduced.

　　Tang Yu Investment, shareholder of Alice, completed the reduction of 2.34% shares.

　　Alice announced that Jiaxing Tangyu Investment Partnership (Limited Partnership) (hereinafter referred to as "Tangyu Investment"), a shareholder of the company, has reduced its shareholding by 10,514,700 shares through centralized bidding and block trading, accounting for 2.34% of the company’s total share capital. The planned time interval for this reduction has expired.

　　Baosteel packaging: It is planned to buy back shares from 50 million yuan to 100 million yuan.

　　Baosteel packaging announced that it plans to buy back shares at a price of 50 million yuan to 100 million yuan for the continuous implementation of the equity incentive plan in the future, with the repurchase price not exceeding 7.66 yuan per share.

　　Yifeng Pharmacy: Vice President Tian Wei resigned for personal reasons.

　　On January 29th, () announced that the board of directors of the company recently received a written resignation report submitted by Tian Wei, vice president of the company, and Tian Wei applied to resign as vice president of the company for personal reasons. According to relevant regulations, Tian Wei’s application for resignation will take effect from the date when it is delivered to the board of directors of the company. After Tian Wei resigned as vice president, he will no longer hold other positions in the company.

　　(Shanghai Stock Exchange)

　　42,455,800 restricted shares of Secco Sid will be listed and circulated on February 6th.

　　Secco Sid announced that the company’s total number of shares listed and circulated this time was 42,455,800 shares, and the listing date was February 6, 2024.

　　By the end of the fourth quarter, the contracted construction area of Zhujiang shares was 38.1402 million square meters.

　　() Announced that by the end of the fourth quarter of 2023, the company (including Guangzhou Pearl River Urban Management Service Group Co., Ltd. and Guangzhou Pearl River Sports and Culture Development Co., Ltd.) was in charge of 371 residential, public and stadium projects, with a total contracted construction area of about 38.1402 million square meters. Among them, there are 148 residential projects with a construction area of about 19,368,500 square meters; 198 public construction projects with a construction area of about 15,688,800 square meters; There are 25 sports venues with a construction area of about 3,082,800 square meters, including 20 large-scale sports venues with a construction area of about 2,625,100 square meters.

　　The controlling shareholder of Xiamen Xiangyu completed the increase of 1.01% of its shares.

　　() Announcement: From October 31, 2023 to January 29, 2024, Xiamen Xiangyu Group Co., Ltd. (referred to as "Xiangyu Group"), the controlling shareholder of the company, increased its holdings of 22,901,100 shares by centralized bidding through the trading system of Shanghai Stock Exchange, accounting for 1.01% of the company’s issued shares, with a cumulative increase of 150 million yuan. This increase plan was completed.

　　Antu Bio will hold a shareholders’ meeting on February 20th to consider the proposal of repurchasing the company’s shares by centralized bidding.

　　Antu Bio announced that the first extraordinary general meeting of shareholders will be held on February 20, 2024, and online voting will be held on the same day. Date of record is February 2nd, and investors who hold Antu Bio shares can vote after the market closes on that day.

　　Meeting place: company meeting room.

　　A total of 1 proposal was audited at this general meeting of shareholders, as follows:

　　1. Proposal on the plan of repurchasing the company’s shares by centralized bidding transaction.

　　() A general meeting of shareholders will be held on February 20th to review the proposal on the company’s 2024 annual guarantee amount.

　　Yijing Optoelectronics announced that the first extraordinary general meeting of shareholders will be held on February 20, 2024, and online voting will be held on the same day. Date of record is February 6th, and investors who hold Yijing Optoelectronic shares after the market closes on that day can vote.

　　Meeting place: meeting room on the 8th floor of Changzhou Yijing Optoelectronic Technology Co., Ltd. (No.18 Jinwu Road, Jintan District, Changzhou City, Jiangsu Province).

　　A total of 1 proposal was audited at this general meeting of shareholders, as follows:

　　1. Proposal on Estimated Guarantee Amount of the Company in 2024.

　　(): Sign a long-term loan agreement with IFC, the international finance company, with the maximum amount not exceeding USD 100 million equivalent to RMB.

　　On January 29th, Health Yuan announced that the company signed the Loan Agreement between Health Yuan Pharmaceutical Group Co., Ltd. and International Finance Corporation with International Finance Corporation (IFC) on the same day, and the company intends to apply to IFC for a long-term loan with the maximum principal amount not exceeding USD 100 million equivalent and the final repayment date not later than May 15th, 2032. The loan interest rate is no more than 1.0% on the basis of the RMB Fixed Base Rate determined at the time of lending. The loan is mainly used for the company to build production and R&D facilities in Henan and Guangdong, and other investments related to key treatment fields, including working capital requirements.

　　The announcement shows that the company’s application for long-term loans from IFC can effectively meet the company’s future business development needs, effectively expand the company’s diversified financing channels, reduce financing costs, and provide good financing support for the company’s sustained, stable and healthy development.

　　(Shanghai Stock Exchange)

　　Baiaotai: It is estimated that the net loss in 2023 will be 350-450 million yuan, a year-on-year decrease, and the sales in adalimumab will increase year-on-year.

　　On January 29th, Baiaotai announced that the company expected a net loss of 350-450 million yuan in 2023, compared with a net loss of 480 million yuan in the same period last year, a year-on-year decrease.

　　In 2023, the company’s operating income is expected to increase by 200 million yuan to 300 million yuan compared with the same period of last year. The main reason is that the company actively expands the market, and the sales of Geluoli (adalimumab) injection has steadily increased compared with the same period of last year; Second, the company’s drug Shireili (Tozumab) injection received the Drug Registration Certificate issued by National Medical Products Administration in January 2023, and the drug sales revenue increased; Third, with the increase in the sales of Bevacizumab injection, the revenue from drug sales commission and sales milestone increased.

　　During the reporting period, the R&D expenditure is expected to increase by 100 million yuan to 200 million yuan compared with the same period of last year. On the one hand, the company adheres to the innovation-driven development strategy, attaches great importance to drug research and development, and continuously enriches the R&D pipeline, and the R&D investment increases during the reporting period; On the other hand, many projects of the company are in clinical phase III, and the clinical trial fees and technical service fees increase, resulting in an increase in research and development expenses.

　　(Shanghai Stock Exchange)

　　In the fourth quarter, Space-Time Technology signed a new contract worth 163 million yuan.

　　() Announcement: From October to December in 2023, the company signed 12 new projects, with a new contract amount of 163 million yuan.

　　Zhang Jinghong, a shareholder of Anfu Technology, intends to reduce his shareholding by no more than 1%.

　　Anfu Technology announced that according to the market price, Zhang Jinghong, a shareholder of the company, intends to reduce the number of shares of the company by no more than 1.456 million shares (that is, no more than 1% of the total number of shares of the company) within 90 days after 15 trading days from the date of disclosure of this announcement.

　　(): It is estimated that in 2023, the company will make provision for depreciation of cobalt-related inventories of about 43 million yuan.

　　Pengxin Resources announced that it is estimated that in 2023, the company will make provision for depreciation of cobalt-related inventories of about 43 million yuan. At the same time, the company’s Congo (DRC) cathode copper production line was overhauled and debugged, and local power cuts and other factors affected the production and sales of cathode copper. In addition, West Gold Plant (Pty) Ltd., which was newly incorporated into the scope of merger, lost about 31 million yuan. The above forecast data are only preliminary accounting data, and the specific and accurate financial data are subject to the audited 2023 annual report officially disclosed by the company.

　　Japanese fashion executives receive warning letters because of spouse’s short-term transaction.

　　On January 29th, 2024, Shanghai Supervision Bureau of China Securities Regulatory Commission announced that Zhang Yunju, a senior manager of () Group (hereinafter referred to as Nikko Fashion) (chief financial officer and secretary of the board of directors), was suspected of illegal operation, and his spouse Zhang Qingdong had bought 62,200 shares of Nikko Fashion from September 6th, 2023 to October 10th, 2023, with a total amount of 1,064,576. Selling 47,200 shares of the company, with a total amount of 805,565.00 yuan, and holding 15,000 shares as of January 10, 2024, constitutes a short-term trading behavior. In order to maintain market order and regulate illegal trading, according to the relevant provisions of the Securities Law of People’s Republic of China (PRC), Zhang Yunju was taken to issue a warning letter.

　　Pacific Securities: Shareholder Jiayu Investment lifted the waiting freeze on the shares of the company.

　　Pacific Securities announced this evening that the company recently received the Notice of Judicial Freeze and Judicial Transfer of Equity issued by China Securities Depository and Clearing Co., Ltd. Shanghai Branch and the Notice of Assistance in Execution issued by the Haidian District People’s Court in Beijing, and learned that all the shares of the company held by Jiayu Investment were released from the waiting freeze.

　　As of the disclosure date of the announcement, Beijing Jiayu Investment Co., Ltd. ("Jiayu Investment") holds 744 million shares of Pacific Securities, accounting for 10.92% of the company’s total share capital. This time, 744 million shares were released from the waiting list, accounting for 100% of its shares.

　　Pacific Securities said that the lifting of the waiting freeze of Jiayu Investment shares did not have a substantial impact on the company’s operation and corporate governance.

　　Kang Enbei: Repurchase 5,471,800 shares for the first time.

　　On the evening of January 29th, Kang Enbei announced that on January 29th, 2024, the company repurchased 5,471,800 shares of A shares of the company through the trading system of Shanghai Stock Exchange by centralized bidding, accounting for 0.21% of the company’s total share capital of 257,037,319 shares. The highest price of the repurchase transaction was 4.7 yuan/share, the lowest price was 4.57 yuan/share, and the total amount of funds paid was 2,526.

　　UFIDA: Accumulated repurchased 34,654,423 shares.

　　On the evening of January 29th, UFIDA announced that as of January 29th, 2024, the company repurchased 4,111,300 shares in January through centralized bidding, and the cumulative number of repurchased shares was 34,654,423 shares, accounting for 1.0137% of the company’s current total share capital, an increase of 0.1202% compared with the last disclosure, and the highest purchase price was 23.39 yuan/share.

　　State Grid Yingda: The company plans to make provision for impairment of 273 million yuan.

　　() According to the announcement, the company held the 12th meeting of the 8th Board of Directors and the 8th meeting of the 8th Board of Supervisors today, and reviewed and approved the Proposal on Provision for Impairment in 2023. In 2023, the company plans to make provision for impairment of 273 million yuan, reducing the profit of consolidated statements in 2023 by 273 million yuan. The financial data related to the provision for impairment has not been audited, and the final accounting treatment is subject to the results confirmed by the annual audit.

　　Goodway: The approval for issuing shares to a specific object expires.

　　Goodway announced that on February 13th, 2023, the company received a reply from China Securities Regulatory Commission, agreeing to the company’s application for registration of issuing shares to a specific target, and the reply will be valid for 12 months from the date of consent to registration (January 31st, 2023). Due to various reasons such as changes in the capital market environment and the timing of issuance, the company failed to implement this non-public offering of shares within the validity period of the approval, and the approval automatically became invalid when it expired.

　　Guobo Electronics: Shareholders promise not to reduce their shares in the company in the next six months.

　　Guobo Electronics announced on the evening of January 29th that its shareholder, CLP Guowei (Tianjin) Integrated Circuit Chip Partnership (Limited Partnership), voluntarily promised not to reduce its shares in the company in any way in the next six months (January 29th to July 28th) from January 29th.

　　Xiao Zhihua, the controlling shareholder of Opmai, completed the increase of 120,600 shares.

　　Opmai announced that Xiao Zhihua, the controlling shareholder, chairman and general manager of the company, increased his holdings of 120,600 shares by centralized bidding through the trading system of Shanghai Stock Exchange, accounting for about 0.1051% of the total issued share capital of the company, and this increase plan has been implemented.

　　Xiangyu, Xiamen: The holding plan of Xiangyu Group, the controlling shareholder, has been implemented.

　　On the evening of January 29th, Xiamen Xiangyu announced that, according to the notice of Xiamen Xiangyu Group Co., Ltd. (hereinafter referred to as "Xiangyu Group"), the controlling shareholder of the company, from October 31st, 2023 to January 29th, 2024, Xiangyu Group increased its holdings of 22,901,069 shares of the company by centralized bidding through the trading system of Shanghai Stock Exchange, accounting for 1% of the company’s issued shares.

　　Yingliu Co., Ltd. plans to set up a joint venture company to engage in the business of fusion reactor materials and components.

　　() Announcement was issued. On January 29th, 2024, the company signed the Sponsor Agreement on the Establishment of Anhui Juneng New Materials Technology Co., Ltd. with Hefei Energy Research Institute Co., Ltd. of Comprehensive Science Center and natural persons Yao Damao, Qi Qiang and Liu Songlin, and planned to jointly contribute to the establishment of a joint venture company to engage in the development, production and sales of fusion reactor materials and components and nuclear detection instruments. The registered capital of the joint venture company is RMB 50 million, of which Yingliu shares intend to contribute RMB 30 million in cash and in kind, making it the largest shareholder of the joint venture company.

　　According to the company, Anhui Juneng New Materials Technology Co., Ltd. was established by the company’s foreign investment this time, with the purpose of rapidly starting the transformation of manufacturing technology of high-heat load components of nuclear fusion devices and technical achievements of shielding materials, and laying a foundation for the company’s long-term development in line with major national strategies in the field of energy equipment.

　　All shares of the company held by Jiayu Investment, a shareholder of Pacific Securities, were released from the waiting freeze.

　　On the evening of January 29th, Pacific Securities announced that the company had recently learned that all the shares of the company held by Beijing Jiayu Investment Co., Ltd. (hereinafter referred to as "Jiayu Investment") had been lifted from the waiting freeze.

　　According to the announcement, Jiayu Investment was sued by Hubei Hump Investment Co., Ltd. to the Haidian District People’s Court in Beijing due to private lending disputes, and all the shares of Pacific Securities held by Jiayu Investment were waiting to be frozen. As of the announcement date, Jiayu Investment holds 744 million shares of Pacific Securities, accounting for 10.92% of the company’s total share capital. This time, the waiting list of frozen shares was lifted by 744 million shares, accounting for 100% of its shares.

　　TBEA: The holding company plans to invest 1.163 billion yuan in Xi ‘an digital factory project.

　　TBEA announced that in order to seize the "double-carbon" market opportunity, expand the production capacity of the company’s inverter and other power electronic products, and improve the company’s competitiveness and profitability in the new energy power electronic equipment market, TBEA Xi ‘an Electric Technology Co., Ltd. ("Xike Company"), the company’s holding company, invested in the construction project of 5G digital factory and science and technology R&D building in Xi ‘an Industrial Park ("Xi ‘an Digital Factory Project"), with a total investment of 1.163 billion yuan and a construction period of 24 months.

　　Zhong Baoshen, chairman of Longji Green Energy, plans to increase its holdings for the first time on January 30.

　　Longji Green Energy announced that Zhong Baoshen, the chairman of the company, plans to increase the company’s shares in a way allowed by the Shanghai Stock Exchange system within 12 months from October 31, 2023, with an increase of not less than RMB 100 million and not more than RMB 150 million. On January 29, 2024, the company received a notice from Zhong Baoshen that it planned to implement its first increase on January 30, 2024, and will continue to implement its increase plan.

　　Lexin Technology: It is planned to buy back the company’s shares at a price of 50 million-100 million yuan.

　　Lexin Technology announced on the evening of January 29th that it plans to buy back the company’s shares at a price of 50-100 million yuan, with the repurchase price not exceeding 120 yuan/share. The repurchased shares will be used for employee stock ownership or equity incentive plan.

　　Shaanxi Construction Co., Ltd.: The management adjusted Chen Qi to be the chairman.

　　On the evening of January 29th, () announced that Chen Qi, general manager of Shaanxi Construction Holding Group, was appointed as the chairman of Shaanxi Construction Co., Ltd.. Gao Jiancheng and Yang Haisheng, deputy general managers of Shaanxi Construction Holding Group, are directors of Shaanxi Construction Co., Ltd..

　　It is also known that Zhang Yiguang, the former chairman of Shaanxi Construction Co., Ltd., has served as a counselor of the Shaanxi Provincial Government; Mao Jidong, former vice chairman of Shaanxi Construction Co., Ltd., has served as Party Secretary and Chairman of Shaanxi Construction Holding Group; Mo Yong, the former director and general manager of Shaanxi Construction Co., Ltd., has been transferred to the general manager of Shaanxi Nonferrous Metals Group; Liu Xiaoqiang, the former deputy general manager of Shaanxi Construction Co., Ltd., has been transferred to the general manager of Shaanxi Water Development Group.

　　Design Institute and its subsidiaries have won the bid for several projects.

　　() Announcement, the company and its subsidiaries received the bid-winning notice, and the project names were Anhui () Highway Co., Ltd.’ s 2023 general contracting project of adjusting and refining the design and construction of expressway traffic safety facilities; In 2023, the first bid section of EPC project of new energy projects supporting some expressways in Anhui Province; S40 Section 01 of Ningguo-Jingxian Expressway and S68 Jingde-Jixi Expressway Survey and Design Consulting Service; Design and construction general contracting project of renovation project of Xinqiao International Airport Expressway Monitoring and Management Center Park; Social investor of Xin ‘anjiang tourist channel regulation project franchise project; General contract for design and construction of image reconstruction project of 30 gas stations such as Jiaogang Lake and Lv Wang of Anhui Expressway Petrochemical Co., Ltd.; Special inspection (supervision) service for tunnel of Yongshan-Yanjin Expressway; Central Laboratory of Hefei Section of Huainan-Tongcheng Expressway; Reconstruction and expansion project of Huayang Port Storage Wharf in Wangjiang County-engineering feasibility study and related special topics compilation; Huzhou South Taihu Lake (Xing Wu) General Airport Whole Process Service and Aviation Industrial Park Master Plan Project; Maanshan Expressway Scheme Design Service Procurement Project; Consulting services for site selection and feasibility study of Qingyang General Airport.

　　Crude oil production has reached a new high () It is estimated that the net profit in 2023 will increase by 58.94%-68.88% year-on-year.

　　On the evening of January 29th, Zhongman Petroleum announced the pre-increase of performance, and the company predicted that the net profit attributable to shareholders of listed companies would be 800-850 million yuan in 2023, up by 58.94%-68.88% year-on-year.

　　In 2023, the company focused on Wensu block, aiming at realizing the scale of reserves and rolling production, actively exerting the advantages of integration, and through increasing the combination of exploration and key evaluation, it achieved multiple breakthroughs in new strata and new fields, and basically proved the oil and gas reserves in the upper wall of F1 fault zone in Kekeya Oilfield.

　　At the same time, Wensu Oilfield climbed to a new level on the basis of the accumulated crude oil production exceeding 1 million tons by intensifying the implementation of horizontal wells, actively carrying out reservoir reconstruction measures and strengthening the production management of oil wells, and the annual crude oil production reached a new high in 2023. The company’s Wensu project achieved a crude oil output of 580,800 tons in 2023, an increase of 146,800 tons over the same period of last year, with a year-on-year increase of 33.82%, and continued to maintain a strong growth trend. (Zhao Ping)

　　China Track, the major shareholder of Jinchuang Group, completed the reduction of 3,655,500 shares.

　　() Announcement: China Railway Transportation Co., Ltd. (hereinafter referred to as "China Track"), the non-largest shareholder of the company holding more than 5% of the shares, has reduced its holdings of 3,655,500 shares through centralized bidding and block trading, accounting for 0.47% of the company’s total share capital; As of the disclosure date of this announcement, the time interval of the reduction plan of China Rail, the shareholder of the company, has expired.

　　() The net profit in 2023 was reduced by 5.5 million to 7.5 million yuan, which plunged by 93.11% to 94.95%.

　　Yaxing chemical disclosed the announcement of pre-reduction of annual performance in 2023. The company estimated that the net profit attributable to shareholders of listed companies in the reporting period would be 5.5 million yuan to 7.5 million yuan, a year-on-year decrease of 93.11% to 94.95%. The net loss attributable to shareholders of listed companies after deducting non-recurring gains and losses is 130 million yuan to 90 million yuan, from profit to loss year-on-year.

　　During the reporting period, the company’s production and operation work progressed steadily, and the production capacity continued to show a recovery growth trend since the relocation. However, compared with before the relocation of the company, the depreciation allocation amount of new public works in the factory area was larger; At the same time, during the reporting period, affected by unfavorable factors such as intensified industry competition and weak downstream demand, the net profit after deducting non-recurring gains and losses in 2023 dropped sharply year-on-year.

　　The case of Pacific Securities v. Ningbo Pinbo and other property damages was rejected by the court.

　　On the evening of January 29th, Pacific Securities announced that the company had recently received a Civil Judgment from the Higher People’s Court of Zhejiang Province regarding the company’s case against Ningbo Pinbo Equity Investment Partnership (Limited Partnership), and upheld the original judgment.

　　Pacific Securities said that the creditor’s rights involved in the above cases have been partially paid off, and the company has accrued corresponding asset impairment reserves, which will not have a significant impact on the company’s current profits or future profits. The company’s business operations are normal, and the above litigation matters have no significant impact on the company’s business operations, financial status and solvency.

　　Guojin Securities completed the issuance of 1.5 billion yuan of corporate bonds.

　　On the evening of January 29th, Guojin Securities announced that its corporate bonds with an approved amount of no more than 15 billion yuan (including 15 billion yuan) were approved by Shanghai Stock Exchange and registered by China Securities Regulatory Commission. According to the Prospectus for Offering Corporate Bonds to Professional Investors (Phase I) by Guojin Securities Co., Ltd. in 2024, the issuance scale of Guojin Securities’ offering corporate bonds to professional investors (Phase I) in 2024 shall not exceed RMB 1.5 billion (including RMB 1.5 billion).

　　The bond issuance of this issue ended on January 29th, 2024, and the actual issuance scale was 1.5 billion yuan. In the end, coupon rate was 2.83% and the subscription multiple was 2.64.

　　Year-on-year growth of 14.7 times to 17.6 times. China Ship expects a large increase in net profit in 2023.

　　On the evening of January 29th, China Ship released the announcement of pre-increase of annual performance in 2023. According to the announcement, China Shipbuilding expects the net profit attributable to the owners of the parent company to be between 2.7 billion yuan and 3.2 billion yuan in 2023, up 14.7 times to 17.6 times year-on-year.

　　According to the announcement, the substantial growth of China Ship’s performance in 2023 is mainly affected by the following factors: non-monetary assets exchange gains and losses caused by the disposal of offshore platforms by the company’s subsidiaries and non-recurring gains and losses such as receiving government subsidies; In 2023, the global new shipbuilding market maintained a good development trend as a whole. With the gradual clearing of low-priced ship orders in the early stage, the company’s hand-held order structure continued to improve; Focusing on the annual production task index, the company strengthened production control and improved production efficiency, and its operating income increased significantly year-on-year, exceeding the annual task target.

　　According to the data recently released by the Ministry of Industry and Information Technology, in 2023, China’s three major shipbuilding indicators all increased year-on-year, ranking first in the world for 14 consecutive years. Among them, the shipbuilding completion was 42.32 million deadweight tons, up 11.8% year-on-year; The volume of new orders received was 71.2 million deadweight tons, up 56.4% year-on-year; By the end of 2023, the volume of hand-held orders was 139.39 million deadweight tons, a year-on-year increase of 32.0%.

　　According to industry insiders, since 2023, the price of new ships has continued to rise, and the global new shipbuilding market will remain highly active under the support of updated demand. At the same time, the supply of berths is tight at present, and the competitive characteristics of orders gathering to the head enterprises are obvious, which also gives shipping enterprises a certain bargaining space. It is expected that the price of new ships will continue to remain relatively high in 2024.

　　Three Gorges Energy plans to invest 1 billion yuan with Changjiang Electric Power Co., Ltd. in Tianjin to improve the competitiveness of the regional market.

　　() Announcement: In order to effectively improve the company’s regional market competitiveness in Tianjin and strengthen the overall planning of Tianjin’s regional business, the company plans to establish a joint venture company, Three Gorges Tianjin Energy Investment Co., Ltd. (Tianjin Nengtou, subject to the registered name of the enterprise) with China () Co., Ltd. (referred to as Changjiang Power) and Three Gorges Capital Holding Co., Ltd. (referred to as Three Gorges Capital) in Tianjin, with an all-round layout of its business in Tianjin, focusing on offshore wind power bases around the Bohai Sea. Three Gorges Energy, Yangtze Power and Three Gorges Capital respectively subscribed 510 million yuan, 340 million yuan and 150 million yuan in cash, accounting for 51%, 34% and 15% of the registered capital of the joint venture company respectively.

　　The establishment of Tianjin Energy Investment Co., Ltd. with Changjiang Electric Power and Three Gorges Capital is an important measure to implement the company’s development strategy, which will effectively give full play to the professional capabilities and synergistic advantages of each subject in technology, talent and investment, and provide multiple guarantees and strong support for the high-quality development and construction of Tianjin’s new energy business.

　　Shaanxi Construction Co., Ltd.: Elected Chen Qi as the chairman of the eighth board of directors of the company.

　　On the evening of January 29th, Shaanxi Construction Co., Ltd. announced that on January 29th, 2024, the 16th meeting of the 8th Board of Directors of the Company reviewed and approved the Proposal on Electing the Chairman of the Company. According to the Company Law and the Articles of Association of Shaanxi Construction Engineering Group Co., Ltd., all directors unanimously agreed to elect Chen Qi as the chairman of the eighth board of directors of the company, with a term of office from the date of deliberation and approval at this board meeting to the date of expiration of the eighth board of directors.

　　Three Gorges Energy plans to transfer 100% equity of Urumqi Pumping and Storage Company to Three Gorges Group at a price of 105 million yuan.

　　Three Gorges Energy announced that in order to smoothly promote the preliminary work of Dabancheng Pumped Storage Power Station project in Xinjiang and promote the high-quality development of pumped storage business, it is planned to transfer 100% equity of Three Gorges New Energy Urumqi Pumped Storage Power Generation Co., Ltd. (hereinafter referred to as Urumqi Pumped Storage Company) held by the company to China Yangtze River Three Gorges Group Co., Ltd. (hereinafter referred to as Three Gorges Group) at a price of 105 million yuan.

　　Lexin Technology: The chairman proposed to buy back the company’s shares from 50 million yuan to 100 million yuan.

　　Lexin Technology announced that on January 29, 2024, the board of directors of the company received a letter from TEO SWEEANN (Zhang Ruian), the controlling shareholder, actual controller and chairman of the company, on proposing Lexin Information Technology (Shanghai) Co., Ltd. to buy back the shares of the company. TEO SWEE ANN proposed that the company buy back the company’s shares through centralized bidding transaction for employee stock ownership or equity incentive plan. The total amount of repurchase funds is not less than 50 million yuan and not more than 100 million yuan; The repurchase price shall not exceed 120 yuan/share.

　　Lexin Technology said that TEO SWEE ANN proposed to buy back shares through centralized bidding transaction based on its confidence in the company’s future sustainable development and recognition of the company’s value, in order to safeguard the interests of investors, enhance investors’ confidence in the company’s investment, and promote the stable and healthy development of the company, effectively combining the interests of shareholders, the company’s interests and the personal interests of employees.

　　Shengtun Mining expects to make provision for impairment of 306 million yuan in 2023.

　　() Announcement, the company’s provision for impairment this time is included in the subjects of asset impairment loss and credit impairment loss. The total impact on the company’s total consolidated profit in 2023 is-306 million yuan (unaudited).

　　Lexin Technology: It is planned to buy back shares at a price of RMB 50 million to RMB 100 million.

　　Lexin Technology announced that the company intends to buy back shares by centralized bidding transaction for employee stock ownership or equity incentive plan. The repurchase amount is not less than 50 million yuan and not more than 100 million yuan; The repurchase price shall not exceed 120 yuan/share.

　　TBEA: The holding company plans to invest in Xi ‘an digital factory project.

　　TBEA announced that TBEA Xi ‘an Electric Technology Co., Ltd., the company’s holding company, plans to invest in the construction project of 5G digital factory and science and technology research and development building in Xi ‘an Industrial Park, with a total investment of 1,163,244,400 yuan.

　　Ji Xiang shares’ pre-loss performance in 2023 both declined.

　　() On the evening of January 29th, the announcement of pre-loss of annual performance in 2023 was released. The company expects to achieve a net profit of-270 million yuan to-340 million yuan in 2023, compared with 492 million yuan in the same period of last year; It is estimated that the non-net profit deducted in 2023 will be-290 million yuan to-370 million yuan, compared with 435 million yuan in the same period of last year.

　　As for the main reason for the pre-loss of performance, Ji Xiang said that in 2023, due to the slowdown in the growth rate of the new energy vehicle market, the upstream resource supply capacity was released, the price of lithium salt fell all the way, and the industry as a whole was in a downturn. Yongshan Lithium Industry actively takes measures to reduce the risks brought by the market downturn by accelerating shipment, increasing the proportion of processing business and purchasing lithium ore at the right time. Among them, the lithium salt plate achieved profitability in the first quarter of 2023. Since the second quarter of 2023, the competition in the lithium salt market has intensified, and the sales volume is less than expected at the beginning of 2023. At the same time, the rapid decline in the unit price of products has led to a low gross profit margin of products, which has led to a loss in the lithium salt sector business throughout the year. During the reporting period, the lithium sector is expected to achieve a net profit of-120 million yuan to-160 million yuan.

　　In addition, the company’s molybdenum plate business was affected by the deep and frequent fluctuations in the prices of products and raw materials, and the gross profit margin of products was low, and the inventory depreciation loss increased, resulting in a large loss in the company’s molybdenum business.

　　Ji Xiang Co., Ltd. was originally a large-scale molybdenum enterprise. Influenced by macroeconomic fluctuations, changes in upstream and downstream market demand and other factors, the molybdenum industry fluctuated greatly, which led to great fluctuations in the company’s performance. Based on this background, Ji Xiang has tried to enter a new field in recent years.

　　In January 2022, Ji Xiang Co., Ltd. completed the acquisition of the equity of Yongshan Lithium Industry, actively strategically laid out the lithium salt business, and increased the lithium industry sector in its main business. At the end of June, 2022, the first-phase project of Yongshan Lithium Industry was put into operation. In October of the same year, the annual production capacity of 15,000 tons of battery-grade lithium hydroxide and 10,000 tons of battery-grade lithium carbonate was formed, and the core cathode materials were supplied to customers in batches. The second phase of the project was officially started in April 2023.

　　It should be pointed out that in the first half of 2023, Ji Xiang’s share performance turned a profit year-on-year, which was mainly due to the contribution of the lithium salt sector. However, the third quarterly report of Ji Xiang Co., Ltd. in 2023 showed that the company’s net profit suffered a loss of 196 million yuan due to the sharp drop in the price of lithium salt products and the huge fluctuation in the market price of molybdenum products.

　　On the evening of October 20, 2023, Ji Xiang Co., Ltd. announced the abnormal fluctuation of stock trading. The operating period of the company’s lithium sector was short, the competition pattern of the lithium industry was fierce, and the overall price of lithium products fluctuated greatly, which led to operational risks in the industry.

　　It is worth mentioning that Yang Feng, chairman and general manager of Ji Xiang Co., Ltd., said at the performance briefing in 2022 that the operation of molybdenum industry is indeed inefficient compared with that of lithium industry, but at this stage it accounts for a relatively high proportion of overall revenue. At present, it will still maintain the pattern of dual main businesses. After the revenue proportion of lithium industry rises, it will consider making appropriate arrangements and adjustments to molybdenum industry at the right time.

　　As early as September 2022, Ji Xiang announced that it would sell its 100% equity of Xisha Degai Molybdenum Industry, a wholly-owned subsidiary, to Shanghai Yongju, a wholly-owned subsidiary of Ningbo Jutai, the controlling shareholder of the company, for 580 million yuan in cash. The business scope of Xisha Degai Molybdenum Industry includes molybdenum mining and dressing (subject to the validity of mining license) and sales of molybdenum products.

　　Ji Xiang said that after the completion of the above transaction, the company will further focus on the processing and production of lithium salt and molybdenum products, optimize the company’s business and product structure, promote the positive transformation of the company’s business, and improve the company’s anti-risk ability and sustainable profitability.

　　According to the announcement of Ji Xiang on November 10, 2023, as of November 9, 2023, Shanghai Yongju has paid off the above-mentioned 580 million yuan equity transfer and paid the corresponding overdue interest.

　　Strong demand for photovoltaic brackets. CITIC Bo’s net profit in 2023 is expected to increase by nearly 7 times.

　　On the evening of January 29th, CITIC Bo announced that, according to the preliminary calculation of the financial department, it is estimated that the annual net profit in 2023 will be about 354 million yuan, an increase of about 310 million yuan, an increase of about 696.70%. Deducted non-net profit was about 313 million yuan, an increase of about 2270.60% year-on-year.

　　According to the data, CITIC Bo’s main business is the design, research and development, production and sales of photovoltaic bracket systems. Last year, as an important part of the photovoltaic industry, the market demand for photovoltaic brackets continued to expand with the growth of photovoltaic installed capacity.

　　For performance growth, CITIC Bo said that the global market for photovoltaic centralized ground power stations has strong demand for new installed capacity, and the company has a leading comprehensive advantage in the field of photovoltaic bracket system segmentation. At the same time, relying on the advantages of the global marketing service network and efficient supply and delivery system, the company’s photovoltaic bracket product business has developed rapidly, achieving double growth of the company’s operating income and net profit.

　　At the same time, CITIC Bo said that the company’s previous strategic layout in the photovoltaic bracket industry gradually showed results in 2023, and orders also increased, effectively supporting the growth and sustainability of the company’s main business. As of December 31, 2023, the company’s orders in hand totaled about 4.7 billion yuan, including about 3.6 billion yuan for tracking system, 1 billion yuan for fixed bracket and 100 million yuan for others.

　　As for the substantial increase in non-net profit deduction, CITIC Bo explained that during the reporting period, the non-operating profit and loss increased compared with the same period of last year due to the influence of changes in the fair value of transactional financial assets (forward foreign exchange locking business), government subsidies included in the current profit and loss, the profit and loss of assets entrusted by others to invest or manage, and the reversal of impairment provision for receivables that were separately tested for impairment.

　　It is worth mentioning that in 2023, CITIC Bo also strengthened cooperation with well-known photovoltaic enterprises at home and abroad, and further expanded its market share through cooperative research and development and joint promotion. At the same time, actively lay out overseas markets, set up overseas subsidiaries and establish sales channels.

　　Recently, CITIC Bo announced that the company has signed a strategic cooperation agreement with Alpon Energy in Turkey. In the future, the two sides will cooperate in photovoltaic power plant project management, technical service cooperation, product installation and commissioning in the local market to ensure the full-cycle operation of CITIC Bo’s projects in the Turkish market and deepen the Turkish renewable energy market. Through the signing of this strategic cooperation agreement, the two sides will jointly promote the common growth of the solar energy market in Turkey and its neighboring countries in the future.

　　Recently, CITIC Bo has publicly stated that at present, CITIC Bo has four manufacturing bases around the world, with an annual delivery capacity of 30GW. At present, its products have served more than 1,500 projects in more than 40 countries. In 2024, CITIC Bo will continue to improve product and supply security, promote supply-side structural reform and promote economic development.

　　From the perspective of the secondary market, the photovoltaic sector has recently ushered in a sustained rebound. Industry analysis believes that the main reason is that the recent overseas PV inventory has been significantly reduced. () According to the research report, it is estimated that the new installed capacity of photovoltaic in China will increase by about 15% in 2024. The overseas market demand is expected to be fully stimulated by the drop in component prices. It is estimated that the installed capacity will increase by 465-485 GW, up by about 20% year-on-year. Hua Fu Securities believes that the triple efforts of China, the United States and Europe are accompanied by the rapid growth of emerging markets. It is estimated that the installed photovoltaic capacity in the world will be 470GW in 2024, with a year-on-year growth rate of 24%, and the demand is still resilient.

　　Sifang Technology: It is planned to issue convertible bonds not exceeding RMB 1.023 billion.

　　() Announcement, the company plans to issue convertible bonds to unspecified objects, with the total amount of funds raised not exceeding 1,023,395,000 yuan, and plans to invest in the project of enhanced polyurethane cryogenic composite materials for LNG thermal insulation system, the production project of special tank storage and transportation equipment, and the construction project of green and energy-saving new materials engineering technology research center.

　　Heideman, Zhejiang: It is estimated that the performance in 2023 will be announced.

　　Zhejiang Heideman announced that the company is conducting preliminary accounting for its performance in 2023, and the specific financial data will be published after being audited by certified public accountants. During the reporting period, the company increased the iterative upgrade of products, and sold some stock models through promotion, which had an impact on the gross profit margin. At the same time, the company has also increased its market development and maintenance efforts, and the exhibition and publicity expenses have increased year-on-year. In order to develop high value-added products, the company’s R&D personnel recruitment and R&D expenditure increased year-on-year. The above forecast data are only preliminary accounting data, and the specific and accurate financial data are subject to the audited 2023 annual report officially disclosed by the company.

　　Longji Green Energy: The chairman of the board plans to increase its holdings for the first time on January 30th.

　　Longji Green Energy announced that the company had previously announced that Chairman Zhong Baoshen planned to increase the company’s shares within 12 months from October 31, 2023, with an increase of not less than 100 million yuan and not more than 150 million yuan. On January 29, 2024, the company received a notice from Zhong Baoshen that it planned to increase its holdings for the first time on January 30, 2024, and will continue to increase its holdings according to the above increase plan.

　　Witten Electric’s main business is steadily improving, and its net profit in 2023 increased by 57.34% to 74.50% year-on-year.

　　On the evening of January 29th, Witten Electric announced the pre-increase announcement of its annual performance in 2023. The company predicted that the net profit attributable to the owners of the parent company would reach 110 million yuan to 122 million yuan this year, which will increase by 40,087,000 yuan to 52,087,000 yuan compared with the same period of last year, with a year-on-year increase of 57.34% to 74.50%. It is estimated that the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses will reach 98 million yuan to 110 million yuan in 2023, which will increase by 31,694,900 yuan to 43,694,900 yuan compared with the same period of last year (legally disclosed data), with a year-on-year increase of 47.80% to 65.90%.

　　The announcement shows that during the reporting period, the company’s business developed steadily and the overall development trend was good. The company closely focuses on the three major businesses of power distribution equipment, new photovoltaic materials and energy storage systems, and constantly consolidates the industrial development layout. On the basis of the gradual improvement of production capacity, we will continue to increase investment in research and development, product development, strengthen the construction of sales team and strengthen market promotion.

　　It is reported that the sales of main products of Witten Electric, such as high and low voltage bus, pv ribbon and energy storage system, increased, which promoted the steady growth of the company’s operating performance.

　　Longji Green Energy: the concerted action of the controlling shareholder received the advance notice of administrative punishment.

　　Longji Lvneng announced on the evening of January 29th that Li Chun ‘an, the concerted action person of the company’s controlling shareholder, received the Notice of Administrative Punishment in advance issued by Liaoning Securities Regulatory Bureau on January 29th. As the chairman of Liancheng CNC, the target of Shijin Technology’s fixed issuance, Li Chun ‘an leaked inside information to Zhao Mouping before the inside information was made public, which constituted an act of leaking inside information. Liaoning Securities Regulatory Bureau plans to make the following decision: impose a fine of 500,000 yuan on Li Chun ‘an. Longji Green Energy said that the subject of punishment involved in the above-mentioned "Notice of Administrative Punishment in advance" is only Li Chun ‘an, and the subject of insider trading involved in the matter of punishment is not the company’s stock, and it does not involve related matters of the company. The above administrative penalties will not affect the normal operation, standardized operation and financial status of the company.

　　Huitong shares: In 2023, the non-net profit was pre-increased by 236.34%-297.07%, and the income in new markets increased steadily.

　　On the evening of January 29th, Huitong announced the pre-increased performance, and it is estimated that the net profit returned to the mother will reach 143 million yuan to 161 million yuan in 2023, an increase of 141.50% to 172.52% compared with the same period of last year (legally disclosed data). It is estimated that the net profit of non-returning to the mother will be 102 million yuan to 120 million yuan, an increase of 236.34% to 297.07% over the same period of last year.

　　According to the announcement, the main reason for the growth of Huitong’s performance in 2023 is that the company seized the opportunity of macro-market structural adjustment, continued to increase investment in new markets such as new energy vehicles and consumer electronics, and achieved steady growth in income in related fields. The change in market structure promoted the company’s high-quality development and at the same time promoted the overall profit growth of the company. At the same time, by focusing on the application scenarios of major customers, the company effectively solved the pain points of customers, increased investment in innovative research and development, strengthened the improvement of product strength and solution capability, promoted the iterative innovation of products in the company’s advantageous business areas, and developed a number of products with leading industry and stable quality, which drove the growth of the company’s profits. In addition, the company adheres to the concept of achieving customers, promotes customer-oriented value flow carding, realizes efficiency improvement in the whole value chain operation, and at the same time comprehensively introduces the concept of lean, promotes cost reduction for all employees, and further enhances the company’s profitability.

　　Huitong Co., Ltd. is mainly engaged in the research and development, production and sales of polymer modified materials, and strategically laid out the new energy sector business, and built a wet separation film project for lithium batteries with an annual output of 1.7 billion square meters.

　　At present, China’s high-end modified materials market is still dominated by imports. In order to break the monopoly in the field of special engineering materials and realize the goal of import substitution, Huitong Special Materials Technology Co., Ltd. was established by foreign investment to build an integrated platform of "polymerization-modification" of special engineering materials. The company’s special engineering materials have been mass-produced and sold, and the annual production capacity of polymer products can reach 3,000 tons. At the same time, the company vigorously carried out the research and development of international high-end modified materials, and developed a number of imported substitute products, including long carbon chain nylon for the surface coating of dishwasher bowls and baskets; PPS, a special engineering material with excellent properties such as high strength and creep resistance, has reached CTI0 level. Flame retardant PC and alloy materials with good high and low temperature toughness, outdoor aging resistance and solvent stress cracking resistance.

　　In addition to increasing research and development efforts to achieve import substitution, the company also seized the opportunity of high-quality development and green low-carbon cycle transformation, and actively practiced the strategy of green design and green intelligence to create low carbon. Comprehensively promote the layout of the whole industrial chain of PCR products, carry out strategic cooperation with upstream suppliers such as zero-carbon products, continuously expand the use of PCR modified plastics, complete the certification of recycled materials content of more than 100 products, obtain OBP certification, provide product carbon accounting support for many customers, and continuously promote the construction of the company’s product carbon accounting database.

　　In addition, the company continues to optimize and upgrade MES, QMS and WMS systems to promote standardization, transparency and dataization of production processes; Through the optimization of manufacturing production line and the promotion of three-dimensional library project, the company has continuously improved its intelligent manufacturing management level, realized the intelligent collaboration of man-machine material method ring, and achieved multiple goals such as efficiency improvement and cost reduction.

　　Based on the business data platform, the company has built four platforms, namely, customer service, R&D management, order delivery and business analysis, to realize the visualization of the whole LTC process and promote the company’s new breakthrough from "manufacturing" to "intelligent manufacturing". (Qi Hening)

　　Fulai New Material Yantai Fuli Phase I (Second Line) Project entered trial production.

　　() On the evening of January 29th, it was announced that the second production line of Yantai Fuli New Materials (Phase I) project invested and built by the holding subsidiary had completed the equipment installation and commissioning and entered the trial production stage.

　　Yantai Fuli New Materials (Phase I) Project has an annual production capacity of about 100,000 tons of BOPP functional films. The first production line of the project was successfully put into production in July 2023, with a designed annual production capacity of about 50,000 tons of BOPP functional films, which has reached the designed production capacity. At present, the second production line of the project has completed the equipment installation and debugging, and entered the trial production stage, with the designed annual production capacity of about 50,000 tons of BOPP functional film.

　　Fulai New Materials’ main business is functional coating composite materials, which are mainly divided into three categories: advertising inkjet printing materials, label printing materials and electronic functional materials. Yantai Fuli New Materials’ main business is film research and development, production and sales.

　　According to the announcement, after the project is fully put into production, the company’s comprehensive cost and raw material supply will be further reduced, which will have a positive impact on the company’s future operating performance and further stabilize the company’s dominant position in the industry. (Wang Weili)

　　() The net profit in 2023 was reduced by 14 million yuan to 21 million yuan, which plummeted by 93.34% to 95.56%.

　　Suli shares disclosed the announcement of pre-reduction of 2023 annual results. The company expects that the net profit attributable to shareholders of listed companies during the reporting period will be 14 million yuan to 21 million yuan, a year-on-year decrease of 93.34% to 95.56%. The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 15 million yuan to 22.5 million yuan, a year-on-year decrease of 92.78% to 95.19%.

　　In 2023, the main reason for the decrease in performance compared with the same period was: due to the cyclical fluctuation of the industry and changes in market supply and demand, the market price of the company’s main products continued to be at a low level and the sales of some products declined, which led to the decline in the profit margin of the company’s products.

　　Chairman Longji Green Energy plans to increase its holdings for the first time on January 30th.

　　Longji Green Energy announced that the company had previously announced that Chairman Zhong Baoshen planned to increase the company’s shares within 12 months from October 31, 2023, with an increase of not less than 100 million yuan and not more than 150 million yuan. On January 29, 2024, the company received a notice from Zhong Baoshen that it planned to increase its holdings for the first time on January 30, 2024, and will continue to increase its holdings according to the above increase plan.

　　[Company Report]

　　Weilai signed a strategic cooperation agreement with Longji Green Energy

　　According to Weilai Guanwei news, on January 3, Weilai and Longji Green Energy jointly announced the signing of a strategic cooperation agreement. The two sides will work closely together to promote the use of green and clean energy for photovoltaic power generation in charging and replacing power stations, build an industry-leading integrated station for optical storage, charging and replacing, and cooperate in promoting the interaction between distributed photovoltaic and V2G vehicle network, and establishing relevant industry standards of "carbon neutrality in travel".

　　Weilai holds hands with Longji Green Energy to promote photovoltaic power exchange station.

　　Weilai’s pace of foreign cooperation is quietly accelerating. Following the establishment of "Power Exchange Partners" with Changan and Geely, Weilai has recently extended its cooperation tentacles to the leading photovoltaic industry.

　　On January 3rd, Weilai (09866) and Longji Green Energy jointly announced the signing of a strategic cooperation agreement. The two sides will work closely together to promote the use of green and clean energy for photovoltaic power generation in charging and replacing power stations, build an industry-leading integrated station for optical storage, charging and replacing, and cooperate in promoting the interaction between distributed photovoltaic and V2G vehicle networks, and establishing relevant industry standards for "carbon neutrality in travel" to help realize the goal of "peak carbon dioxide emissions and carbon neutrality" in the transportation field. (Securities Times Han Zhongnan)

　　ST Tiancheng received the inquiry letter of performance forecast.

　　() According to the announcement, on January 29th, 2024, it received the "Letter of Inquiry on Matters Related to the Performance Forecast of Guizhou Changzheng tiancheng holdings Co., Ltd." issued by Department II of Listed Company Management of Shanghai Stock Exchange.

　　In the fourth quarter, Anhui Construction Engineering Co., Ltd. signed a new contract worth 49.55 billion yuan, a year-on-year increase of 31.95%.

　　() Announcement: In the fourth quarter of 2023, the company signed 133 new contracts, with a new contract amount of 49.55 billion yuan, with a year-on-year increase of 31.95%. From the first quarter to the fourth quarter of 2023, a total of 551 new contracts were signed, with a new contract value of 151.07 billion yuan, an increase of 13.81% year-on-year.

　　Anhui Construction Engineering Subsidiary won several projects.

　　Anhui Construction Engineering announced that recently, the company’s subsidiaries Anhui Highway and Bridge Engineering Co., Ltd., Anhui Construction Engineering Sanjian Group Co., Ltd., Anhui Water Resources Development Co., Ltd., Anhui Construction Engineering Transportation and Navigation Group Co., Ltd. and Anhui Sanjian Luzhou Engineering Co., Ltd. received the bid-winning notice.

　　It is reported that the bid-winning projects are bid YQB2(YQTJ-02) of subgrade and pavement construction in Anqing-Qianshan section (Yueshan-Qianshan section) of S22 Tiantian Expressway; New Development Bank loans the second phase (K5+800-K10+860) of the new construction project of S334 Eshan Road East Extension (Yanjiang Expressway to Wuxuan Expressway) of Anhui Highway Development Project; Hefei Future Great Science City Area Project (Phase I) integrates investment, construction and operation; Construction of Lanyuan Yuefu Project; S18 Bid Section -4 of Subgrade and Pavement Project of Hefei Section of Nanjing-Hefei Expressway.

　　() The net profit in 2023 was reduced by 420 million yuan to 500 million yuan, plunging by 67.99% to 73.11%.

　　Blum Oriental disclosed the announcement of pre-reduction of 2023 annual results. The company expects the net profit attributable to shareholders of listed companies to be 420 million yuan to 500 million yuan during the reporting period, down 67.99% to 73.11% year-on-year. The net profit attributable to shareholders of listed companies, after deducting non-recurring gains and losses, ranged from-20 million yuan to-10 million yuan, turning from profit to loss year-on-year.

　　It is reported that the pre-reduction of the company’s performance is mainly due to the increasing downward pressure of the global economy in 2023, the continued sluggish downstream consumer demand, and the impact of overseas clothing brands’ destocking. The company’s overall orders are insufficient, the capacity utilization rate declines, and the product price declines year-on-year, resulting in a decline in the profit of the company’s main business.

　　Chengdu Gas Company, which secretly set up concealed pipes to discharge water pollutants, received the decision of administrative punishment.

　　() A few days ago, it was announced that Chengdu Liquefied Natural Gas Co., Ltd. (hereinafter referred to as "Liquefied Company"), a wholly-owned subsidiary of the company, received the administrative penalty decision issued by Chengdu Ecological Environment Bureau on January 25, 2024.

　　The Chengdu Bureau of Ecology and Environment conducted a law enforcement inspection on the "Sichuan Tire and Rubber (Group) Co., Ltd. Natural Gas Distributed Energy Project" of Liquefied Company, and found that the Liquefied Company discharged water pollutants in the project. According to the fourth paragraph of Article 42 of People’s Republic of China (PRC) Environmental Protection Law and Article 39 of People’s Republic of China (PRC) Water Pollution Prevention Law, Chengdu Eco-environment Bureau fined the liquefaction company 177,100 yuan.

　　According to official website of Chengdu Ecological Environment Bureau, on August 31st, 2023, the law enforcement officers of Longquanyi detachment of Chengdu Ecological Environment Protection Comprehensive Administrative Law Enforcement Corps conducted a law enforcement inspection on "Sichuan Tire & Rubber (Group) Co., Ltd. Natural Gas Distributed Energy Project" of Chengdu LNG Co., Ltd. located at No.568, Chuanxiang Road, Yangma Street, East Chengdu New District, according to the double random clues, and found that the liquefaction company had committed the following environmental violations: discharging water pollutants by means of evading supervision.

　　() The net profit in 2023 was reduced by 80 million to 110 million yuan, which plunged by 83.67% to 88.13%.

　　Changyuan Group disclosed the announcement of pre-reduction of annual performance in 2023. The company expects the net profit attributable to shareholders of listed companies to be 80 million yuan to 110 million yuan during the reporting period, a year-on-year decrease of 83.67% to 88.13%. The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 50 million yuan to 74.5 million yuan, a year-on-year decrease of 0.36% to 33.13%.

　　During the reporting period, while consolidating the market position of the main network business, it continuously explored new markets at home and abroad, and its operating income grew steadily, increasing by about 900 million yuan compared with the same period of last year, mainly due to the increase in sales income of smart grid equipment and new energy projects, especially engineering general contracting business. In addition, the investment income decreased by about 1.16 billion yuan compared with the same period of last year.

　　() A shareholders’ meeting will be held on February 19th to consider the proposal that the controlling shareholders provide new loans and related transactions to the holding subsidiaries of the company.

　　Samsung New Materials announced that the first extraordinary shareholders’ meeting will be held on February 19, 2024, and online voting will be held on the same day. Date of record falls on February 2nd, and investors who hold shares of Samsung New Materials can vote after the market closes on that day.

　　Meeting place: meeting room on the third floor of Zhejiang Samsung New Materials Co., Ltd., No.333 Hanghai Road, Yuyue Town, Deqing County, Huzhou City, Zhejiang Province.

　　A total of 1 proposal was audited at this general meeting of shareholders, as follows:

　　1. Proposal on Providing New Loans and Related Transactions to the Company’s Holding Subsidiaries by Related Parties of the Controlling Shareholders.

　　Baosteel packaging: It is planned to buy back shares at a price of RMB 50 million to RMB 100 million.

　　On January 29th, baosteel packaging announced that it plans to buy back its shares at a price of 50-100 million yuan, which will be used for the continuous implementation of the equity incentive plan in the future. The upper limit of the repurchase price is planned not to exceed 7.66 yuan/share.

　　Baosteel packaging: It is planned to buy back the company’s shares of RMB 50 million to RMB 100 million.

　　Baosteel packaging announced that it plans to buy back 50-100 million yuan of shares of the company, which will be used for the continuous implementation of the equity incentive plan in the future, and the repurchase price will not exceed 7.66 yuan/share.

　　Eco-Optoelectronic Power Co., Ltd. pre-reduced its net profit by 12 million to 18 million yuan in 2023, plummeting by 74.40% to 82.94%.

　　Eko Optoelectronics disclosed the announcement of pre-reduction of 2023 annual results. The company expects the operating income in the reporting period to be 220 million yuan to 250 million yuan, a year-on-year decrease of 4.82% to 16.24%. The net profit attributable to the owners of the parent company was 12 million yuan to 18 million yuan, a year-on-year decrease of 74.40% to 82.94%. The net profit attributable to the owners of the parent company after deducting non-recurring gains and losses was 6 million yuan to 9 million yuan, a year-on-year decrease of 84.59% to 89.73%.

　　It is reported that due to various factors such as the global economic slowdown, the overall macro-economy and the cyclical changes of lithium batteries, customer demand has declined, the company’s orders have decreased and industry competition has intensified, resulting in a decline in the company’s sales and gross profit margin. In addition, during the reporting period, the expenses for renovation and renovation of newly leased production and office buildings and investment in new production line equipment increased related expenses and fixed costs; In order to maintain the company’s competitive advantage in the market, the company continues to carry out technological innovation and constantly explore market areas and customer groups, resulting in an increase in the company’s research and development expenses and operating costs; In the first half of 2023, new equity incentives were added, and the relevant share payment fees were confirmed.

　　Lexin Technology completed the repurchase of 1.06% shares at a cost of 80,025,900 yuan.

　　Lexin Technology announced that as of January 29, 2024, the company had repurchased 858,100 shares of the company through the trading system of Shanghai Stock Exchange by centralized bidding, accounting for 1.06% of the company’s total share capital of 80,789,724 shares. The highest price of the repurchase transaction was 100.00 yuan/share, and the lowest price was 81.61 yuan/share, and the total amount of funds paid was 8,002.50 yuan. The amount of shares repurchased this time has reached the upper limit, and the repurchase plan has been implemented.

　　China Ship is expected to have a net profit of 2.7 billion yuan to 3.2 billion yuan in 2023, with an explosive increase of 1470.95% to 1761.87%.

　　According to the announcement of the pre-increase of the annual performance of China Shipbuilding Co., Ltd. in 2023, the company expects the net profit attributable to the owners of the parent company to be between 2.7 billion yuan and 3.2 billion yuan, increasing by 1470.95% to 1761.87% year-on-year. It is estimated that the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses will be between-500 million yuan and 0 yuan in 2023.

　　During the reporting period, due to the exchange gains and losses of non-monetary assets arising from the disposal of offshore platforms by subsidiaries of the company and the receipt of government subsidies, the company’s non-recurring gains and losses in this period were about 3.2 billion yuan, compared with 2.921 billion yuan in the same period of last year; At the same time, in 2023, the global new shipbuilding market maintained a good development trend as a whole. With the gradual clearing of low-priced ship orders in the early stage, the company’s hand-held order structure continued to improve; Focusing on the annual production task index, the company strengthened production control and improved production efficiency, and its operating income increased significantly year-on-year, exceeding the annual task target. Due to the comprehensive influence of the above factors and the low performance index of the company in the same period of last year, the company’s performance in this period has increased significantly compared with the same period of last year.

　　Some directors and senior executives of Shengmei Shanghai increased their holdings by 95,700 shares.

　　Shengmei Shanghai announced that by January 29th, 2024, the company’s directors, general manager Wang Jian, deputy general manager Chen Fuping and secretary of the board of directors Luo Mingzhu had increased their holdings of 95,700 shares by centralized bidding through the trading system of the Shanghai Stock Exchange, accounting for 0.0220% of the company’s total share capital, with a total increase of 7,754,800 yuan, which has exceeded 50% of the lower limit of 9 million yuan in this increase plan. The increase plan has not yet been implemented.

　　The film market recovers. Hengdian Film and Television is expected to turn a profit in 2023.

　　On the evening of January 29th, () announced that it is estimated that the net profit attributable to shareholders of listed companies will be 135 million yuan to 180 million yuan in 2023, which will turn losses into profits.

　　As for the main reasons for the pre-earnings, Hengdian Film and Television said that in 2023, the operating environment of the cinema industry improved, the national film market recovered, the supply side, the projection side and the demand side all improved significantly compared with the same period of last year, the high-quality content continued to be supplied, and the normal pace of film booking and announcement was maintained. The box office performance in the Spring Festival and summer slots was outstanding, the audience’s demand for watching movies was released, the number of people watching movies and the attendance rate increased, and the company’s projection business income and others increased.

　　Xiang Kai, a young playwright and director in China, said in an interview with Securities Daily: "It is expected that the market will show a strong recovery in 2024, and it is expected to usher in a peak."

　　In the context of the rising market boom and the continuous concentration of the industry, Hengdian Film and Television said at a recent performance briefing: "The company has established a good strategic cooperative relationship with well-known commercial real estate companies and commercial management companies, and has sufficient cinema project reserves. It plans to build 30 to 50 new direct-operated cinemas every year. By enhancing the brand influence of Hengdian Film and Television, we will improve the service quality of Hengdian Cinema, strengthen the publicity of the resource advantages of Hengdian Cinema and attract more cinemas to join Hengdian Cinema. "

　　In addition, from the perspective of its own development, in 2023, Hengdian Film and Television will strengthen its management, continue to reduce costs and increase efficiency, strengthen internal control and enhance its comprehensive competitiveness. The operation of the projection business and the content sector is improving.

　　In fact, in recent years, the company has made great efforts to expand to the upstream of the industrial chain, and made great efforts to produce content and produced a large number of high-quality works. In 2023, Zhejiang Hengdian Film Co., Ltd. (hereinafter referred to as "Hengdian Film"), a wholly-owned subsidiary of Hengdian Film, participated in the production of films such as Wandering Earth 2 and Keeping You Safe, which were released in major schedules and achieved good social and economic benefits.

　　"In recent years, Hengdian Film and Television has actively transformed into content output, and its development has advanced by leaps and bounds, and it has achieved good results in film production and distribution." Xiang Kai said.

　　As the Spring Festival approaches, a number of domestic films are scheduled to be released in the Spring Festival file one after another, including three films produced by Hengdian Film Co., Ltd., Pegasus 2, Bears Coming and Going, Reversing Time and Space, and Viva La Vida. Pegasus 2 has been predicted as the box office champion of this Spring Festival file by many film critics.

　　Feng Yangyang, an expert on communication planet App, told the Securities Daily reporter: "Hengdian Film and Television emphasizes high-quality content in its distribution business, which is in line with the demand for high-quality works in the current film market. In recent years, the company has successfully launched a number of high-quality films, accumulating a good reputation and market influence. In the future development, Hengdian Film and Television is expected to continue to maintain its growth momentum and its market share is expected to further expand. "

　　It is reported that Hengdian Film and Television still reserves a number of investment films, and constantly strengthens the synergy between the content plate and the cinema plate, and invests in high-quality film and television projects with the help of professional perspectives and the advantages of cinema channels.

　　Chairman Longji Green Energy plans to implement the first increase in holdings today.

　　On the evening of January 29th, Longji Green Energy announced that on January 29th, the company received a notice from Chairman Zhong Baoshen that it planned to increase its holdings for the first time on January 30th, 2024, and will continue to implement its holdings plan.

　　According to the previous disclosure, Zhong Baoshen plans to increase the company’s shares in a way allowed by the Shanghai Stock Exchange system within 12 months from October 31, 2023, with an increase of not less than 100 million yuan and not more than 150 million yuan.

　　"At present, both the price of the photovoltaic industry chain and the performance of the secondary market are in the downward stage. Longji Green Energy is the leader of the photovoltaic industry, and its chairman’s increase in holdings has obviously boosted the industry." Dr. Ding Bingzhong, a partner of Shanghai Jimao Assets, told the Securities Daily reporter.

　　According to the performance forecast recently released by listed companies in the photovoltaic industry chain, the performance of many listed companies declined in the fourth quarter of last year, among which the silicon wafer leader () is expected to lose 1.388 billion yuan to 1.988 billion yuan in the fourth quarter of last year.

　　"Since 2023, the prices of products in all aspects of the photovoltaic industry chain have continued to decline, especially in the second half of the year. The prices of silicon materials, silicon wafers and components have fallen sharply. Although the installed capacity increased substantially last year, the profits of the industry chain have been severely squeezed." Wang Tieshan, director of the Industrial Development and Investment Research Center of Xi ‘an Engineering University, said in an interview with a reporter from Securities Daily.

　　Longji Green Energy recently said in an institutional survey that from the fourth quarter of 2023 to the present, the price of the photovoltaic industry chain has dropped to a very irrational position, which is not conducive to the long-term healthy development of the photovoltaic industry.

　　According to the reporter, with the continuous decline in the price of photovoltaic industry chain, some enterprises have begun to control production and reduce production.

　　"From the current situation, the intensified market competition caused by staged overcapacity will continue for some time. Some enterprises with insufficient cost control ability and backward production capacity will face the risk of being eliminated, while some enterprises with advantages in technology and cost control will be more competitive, which is conducive to the healthy development of the industry." Wang Tieshan said.

　　Longji Green Energy said that since the fourth quarter of 2023, enterprises in different manufacturing sectors have announced the pace of delaying production expansion. If the profit pressure of the industry continues, there may be a general phenomenon of delaying production expansion, which can restrain the escalation of oversupply pressure to some extent. At the same time, the iteration of battery technology is accelerated, and new technologies such as TOPCon and BC are accelerating to replace P-type PERC technology, and the corresponding backward production capacity will also be cleared, which will promote the gradual improvement of the supply and demand pattern of the industry.

　　"After the price of the industrial chain has been falling all the way, some enterprises will inevitably withdraw from the industry or reduce production. As the industry leader, Longji Green Energy has obvious competitive advantages and is expected to usher in new development opportunities and its fundamentals will be improved. " Ding Bingzhong analyzed that this may also be the confidence of its chairman in this increase.

　　"From the historical experience, the development of the photovoltaic industry is characterized by periodic fluctuations, so after a period of trough, it is expected to usher in new development opportunities. As the global attention to renewable energy continues to increase, the demand for photovoltaic market is expected to continue to grow. " Zhu Keli, executive director of China Information Association, said in an interview with a reporter from Securities Daily.

　　The controlling shareholder will be forced to take Geng Xing shares or change hands for the fourth time.

　　On January 29th, () announced that 79,929,600 shares held by Zhonggeng Group, the controlling shareholder, would be subject to judicial auction, accounting for 34.71% of the company’s total share capital. This move may lead to the change of the actual controller and controlling shareholder of the company, or it may make the company become an actual controller.

　　This also means that after 7 years of throwing 2 billion yuan into Geng Xing shares, Zhong Geng Group, a Fujian-based housing company, will finally leave. And where will Geng Xing shares, which have changed hands three times since listing and have poor management, go in the future?

　　Facing judicial auction

　　According to the announcement of Geng Xing shares, the company recently learned from the judicial assistance execution platform of Shanghai Stock Exchange and verified by Zhonggeng Group that the Shanghai Financial Court issued the Announcement on Judicial Disposal of Shares on January 26, 2024, which will be publicly handled on the judicial execution platform on February 29, 2024 and March 1, 2024, respectively, and auction 66.6624 million shares of Geng Xing shares held by Zhonggeng Group and 13.2672 million shares.

　　The reason why the above-mentioned shares held by Zhong Geng Group will face judicial disposal auction is because the stock pledge business of Zhong Geng Group is in breach of contract and Xiamen Trust applied for judicial freezing of 66,662,400 shares of Geng Xing shares held by it. Later, because Zhong Geng Group failed to fulfill the ruling made by Xiamen Arbitration Commission on the above-mentioned case, Xiamen Trust applied to Shanghai Financial Court for compulsory execution.

　　In addition, as a guarantor, Zhong Geng Group’s subsidiary was applied by Shanghai Guokun Commercial Factoring Co., Ltd. for judicial freezing of its 13,267,200 shares of Geng Xing’s restricted shares due to disputes over factoring contracts. Later, because Zhong Geng Group failed to fulfill the ruling made by Shanghai Higher People’s Court on the above case, Shanghai Guokun applied to Shanghai Financial Court for compulsory execution.

　　As of the disclosure date of the announcement, Zhonggeng Group holds 81,929,600 shares of listed companies, accounting for 35.57% of the total share capital of listed companies. At present, all its shares are pledged and frozen.

　　Zhonggeng Group was once one of the representatives of Fujian real estate enterprises and was founded in 1997. Since 2006, the company has begun to make a nationwide layout, leaving Fuzhou and marching into Dalian, and then landing in Jiangsu, Beijing, Chongqing and other places. Following the footsteps of Fujian real estate enterprises such as Shimao and Xuhui, Zhonggeng Group moved its headquarters to Shanghai.

　　All the way to expansion, Zhonggeng Group has been squeezed into the top 100. In 2018, Zhonggeng Group’s trading amount reached 23.21 billion yuan, ranking 94th among the national housing enterprises.

　　Zhong Geng Group sought listing for many times, trying to replenish capital through the capital market, but eventually it bought the predecessor of Geng Xing shares, Oriental Silver Star, to achieve listing by curve.

　　Has changed hands three times.

　　Geng Xing shares were once known as Oriental Silver Star and *ST Ice Bear (the predecessor of Oriental Silver Star). Since its listing, it has experienced three changes of ownership, but its operation is still lacking, during which there have been infighting dramas for control rights.

　　The first change of ownership of the company took place in 2005, when Yinxing Zhiye entered the *ST Ice Bear, and then the listed company was renamed Oriental Yinxing. After the reorganization, Oriental Silver Star turned to the real estate industry, but after 2010, the real estate business of Oriental Silver Star came to a standstill.

　　In 2013, after four consecutive placards, Yushang Group gained 20% of the shares of Oriental Silver Star and became the second largest shareholder of the company.

　　The second change of control rights occurred in August 2015. Yinxing Zhiye transferred all the shares of Oriental Yinxing to Jinzhong Dongxin, and completely withdrew. However, during this period, Yushang Group continued to increase its holdings, and there was once a "double-headed board of directors" situation. In October 2016, Jinzhong Dongxin’s shareholding ratio rose to 32%, surpassing Yushang Group, which holds 31% of the shares.

　　In March 2017, the controlling share changed hands for the third time. Jinzhong Dongxin sold its 38,374,400 shares to Zhonggeng Group at a price of 56.03 yuan/share with a premium of 51%, with a total transfer price of 2.15 billion yuan.

　　With the entry of Zhonggeng Group, Oriental Silver Star began to cross the border frequently, but in the end it had little effect, only causing its share price to fluctuate greatly.

　　Oriental Silver Star’s main business was first transformed into a commodity supply chain management business with coal (including coke) as the main business, but the gross profit margin and profitability of this business were generally not high. In 2022, the gross profit margin of this business was only 1.34%.

　　In 2018, Oriental Silver Star planned to purchase 60% equity of Ningbo Zhongkairun in cash through a wholly-owned subsidiary, and then the target was changed to 51% equity of Qifan Investment, which is mainly engaged in investment in real estate-related fields and has invested in real estate projects in Fuzhou. But in the end, the acquisition fell through.

　　In 2021, Oriental Silver Star announced the cross-border semiconductor field, invested 30 million yuan to subscribe for the newly registered capital of Wuhan Minsheng, and held 2.91% equity of Wuhan Minsheng. Wuhan Minsheng is a MEMS manufacturer. In the end, the transformation did not have a big return.

　　On March 20, 2023, Oriental Silver Star changed its name to Geng Xing, and at the same time began a new transformation, announcing its entry into new energy business, mainly operating charging piles and charging stations. However, according to the company’s previously disclosed senior management resume and employee composition, the original team of Geng Xing shares lacked experience in the new energy industry.

　　According to the 2022 annual report, Geng Xing Co., Ltd. has only 37 employees, mainly sales, management and administration personnel, and zero production and technical personnel. According to the semi-annual report of Gengxing in 2023, its new energy vehicle charging business is still in the preparatory stage, and it has not officially opened for operation and generated business income.

　　Business is not good enough.

　　The frequent change of controlling rights and the transformation of main business have not brought actual returns to Geng Xing.

　　In 2021 and 2022, the revenue of Gengxing was 1.612 billion yuan and 1.848 billion yuan respectively, down 40.17% year-on-year and up 14.61%. The net profit was-42.75 million yuan and 16.94 million yuan respectively, down 287% and up 135% respectively.

　　In 2023, the company’s performance showed a "double decline". In the first three quarters of 2023, the company achieved revenue of 484 million yuan, down 70% year-on-year; The net loss was 32.37 million yuan, and the company’s performance turned from profit to loss.

　　Geng Xing shares had previously occupied funds by related parties. In 2022, due to the failure of affiliated companies to arrange payment and delivery settlement as agreed, nearly 170 million yuan of related funds were occupied. The 2022 annual report of Gengxing shares was issued with a qualified audit report by the audit institution.

　　Geng Xing shares said that from 2021 to 2022, the company was occupied by non-operating funds of Zhong Geng Group and its related parties. As of April 26, 2023, the controlling shareholder and its related parties have all returned the above-mentioned non-operating occupied funds and interest.

　　On January 15th, 2024, Geng Xing shares disclosed that it received the Notice of Filing a Case issued by China Securities Regulatory Commission on the same day. The CSRC decided to file a case against the company because the company was suspected of violating laws and regulations in information disclosure.

　　Image source: Xinhua News Agency

　　According to CCTV news, eight departments, including the Ministry of Industry and Information Technology, officially issued the "Notice on Launching the First Pilot Area of Fully Electrified Vehicles in the Public Sector" on the 13th.

　　After research, 15 cities including Beijing, Shenzhen, Chongqing, Chengdu, Zhengzhou, Ningbo, Xiamen, Jinan, Shijiazhuang, Tangshan, Liuzhou, Haikou, Changchun, Yinchuan and Erdos were identified as the pilot cities, and a number of experiences and models that can be replicated and popularized were encouraged to be explored, which will play an exemplary role in the comprehensive market-oriented expansion of new energy vehicles and the construction of green and low-carbon transportation systems.

　　The notice specifies three main objectives: the level of vehicle electrification is greatly improved, the service system for charging and replacing electricity is strongly guaranteed, and new technologies and new models are innovatively applied, as well as four key tasks: improving the level of vehicle electrification, promoting the innovative application of new technologies, improving the infrastructure for charging and replacing electricity, and improving policies and management systems.

　　In terms of expected targets, new energy vehicles will be promoted in the fields of official vehicles, city buses, sanitation vehicles, taxis, postal express vehicles, urban logistics distribution vehicles, airport vehicles, heavy trucks in specific scenes, etc., with a promotion number of 600,000 vehicles; 700,000 charging piles and 7800 power stations will be built. The pilot content includes charging and replacing electricity, vehicle-network interaction, integration of optical storage, charging and discharging, virtual power plant, green electricity trading and so on.

　　Interpretation:Judging from the first batch of shortlisted cities, the types are very diverse, ranging from "spire" cities such as Beijing, Shenzhen, Chongqing and Chengdu to ordinary prefecture-level cities such as Tangshan, Liuzhou and Ordos.

　　In fact, giving different cities the opportunity to participate extensively is one of the main considerations in the pilot work. At the beginning of this year, eight departments, including the Ministry of Industry and Information Technology, issued the "Notice on Organizing the Pilot Work of Fully Electrified Vehicles in the Public Sector", which comprehensively considered the economic development level of various provinces and cities, the industrial base of new energy vehicles, the promotion and application situation and other factors, and divided the pilot areas into three categories, and the vehicle promotion objectives of pilot cities in different regions were also different.

　　In contrast, Beijing, Shenzhen, Chongqing, Chengdu and Zhengzhou belong to the first category, and the goal is to promote the number (standard car conversion, the same below) to reach 100,000; Ningbo, Xiamen, Jinan, Shijiazhuang and Tangshan belong to the second category, and the promotion number will strive to reach 60,000 vehicles; Liuzhou, Haikou, Changchun, Yinchuan and Ordos belong to the third category, and the promotion number will strive to reach 20,000 vehicles.

　　It is worth mentioning that among the first shortlisted cities, there are 7 southern cities and 8 northern cities. Behind this, there are actually considerations to solve the problem of promoting new energy vehicles in the northern region. At the the State Council policy briefing held in June, Xin Guobin, Vice Minister of the Ministry of Industry and Information Technology, said that while the new energy vehicle market in China is growing rapidly, there are still problems of imbalance and inadequacy.

　　Geographically, due to factors such as low-temperature adaptability of power batteries and insufficient charging and replacing facilities, the promotion and application of new energy vehicles in Northeast China and Northwest China are relatively backward, and the number of new energy vehicles in the three northeastern provinces and five northwestern provinces is less than 5% of the national total.

　　From the model, the sales growth of new energy commercial vehicles is obviously slower than that of passenger cars. In 2022, new energy commercial vehicles only accounted for 10.2% of the total sales of commercial vehicles, of which medium and heavy trucks accounted for only 2.7%.

　　With the opening of this pilot, it will bring new development opportunities to China’s new energy vehicle market, and it is also expected to open a huge blue ocean of growth. According to some calculations, the promotion of new energy vehicles alone is expected to bring hundreds of billions of market space, which does not include the investment increment of charging piles and power stations. For cities, when the demand side is activated, it is also expected to bring new opportunities to the supply side.

　　# Trend

　　Shanghai promotes cross-border RMB settlement of "Silk Road E-commerce"

　　The Information Office of the Shanghai Municipal Government held a press conference on the 14th to introduce the "Proposal on Establishing a Pilot Area for Silk Road E-commerce Cooperation in Shanghai". According to reports, Shanghai will take the lead in carrying out innovative exploration pilots in the pioneering area, put forward more practical opening measures, and accelerate the construction of the digital trading system framework and infrastructure system. Among them, to expand the opening of e-commerce, Shanghai will expand international data services, implement high-standard trade facilitation measures, promote the application of international standards for electronic documents, explore cross-border interoperability of digital identity and electronic authentication, expand cross-border e-commerce imports, promote the innovative development of cross-border e-commerce exports, and promote cross-border RMB settlement of "Silk Road e-commerce".

　　Hubei accelerates the cultivation and development of artificial intelligence industry

　　Hubei Daily News, on November 13th, the Information Office of Hubei Provincial Government held a press conference to introduce the "artificial intelligence industry chain". It was revealed at the meeting that Hubei will accelerate the whole chain connection, the whole process integration and the participation of all factors in the artificial intelligence industry chain, and strive that by 2025, the scale of the artificial intelligence industry in the province will exceed 150 billion yuan, and the overall technology and industrial development level of artificial intelligence will enter the first phalanx in the country.

　　Yunnan set up a round table mechanism to promote the development of private enterprises and the communication between government and enterprises

　　The General Office of the Yunnan Provincial Government recently issued a notice and decided to establish a round table mechanism for promoting the development of private enterprises in Yunnan Province. Job responsibilities include: strengthening the normal communication with private enterprises and business associations, listening carefully to the opinions and suggestions of attracting private enterprises, and timely solving the difficulties and problems reflected by private enterprises involving the powers of relevant departments and units directly under the province. Regularly carry out policy propaganda and interpretation, improve the pertinence and effectiveness of policies, ensure that all kinds of policies benefit business entities, strengthen positive guidance, and boost the confidence of private enterprises in development. Strengthen the information sharing and coordination of relevant departments and units directly under the province, solidify effective measures, sum up and popularize advanced experience, and promote the high-quality development of the private economy.

　　The hydropower station with the largest installed capacity under construction in the Yellow River Basin is impounded.

　　According to CCTV news, on November 14th, Qinghai Maerdang Hydropower Station, a national key energy project, officially shut down the floodgates to store water, marking that the power station officially entered the sprint stage before the first unit was put into production. Ma ‘erdang Hydropower Station is located on the main stream of the Yellow River upstream of Laga Town, Maqin County, Golog Tibetan Autonomous Prefecture, Qinghai Province, with an average elevation of 3,300 meters and a total installed capacity of 2.32 million kilowatts. It is the hydropower station with the highest elevation and the largest installed capacity under construction in the Yellow River Basin. After the Mardang Hydropower Station is fully put into operation, the average annual power generation will reach 7.3 billion kWh, which is equivalent to saving about 2.2 million tons of standard coal every year, and will provide clean energy for Qinghai Province and the eastern region.

　　List of national-level 5G factories, Suzhou ranks first.

　　According to the Suzhou Municipal Bureau of Industry and Information Technology, on November 12, the Ministry of Industry and Information Technology announced the 2023 5G Factory Directory, and it is planned to approve 300 5G factory projects to enter the 2023 5G Factory Directory. 44 5G factory projects in Suzhou were selected, involving 14 industries (national economy categories) such as computer, communication and other electronic equipment manufacturing, general equipment manufacturing, automobile manufacturing and textile industry, ranking first in the country, accounting for nearly half of Jiangsu Province.

　　# Sound

　　Minister of Finance Lan Foan: It is expected that China’s economy will maintain a good recovery trend in the fourth quarter.

　　According to the website of the Ministry of Finance, from November 12th to 13th, the 30th APEC Finance Ministers’ Meeting was held in San Francisco, USA. The meeting mainly discussed the global and regional economic and financial situation, modern supply-side economics, sustainable finance, digital assets and other issues.

　　Minister of Finance Lan Foan attended the meeting and delivered a speech. He said that since the beginning of this year, China’s economy has continued to pick up, especially since the third quarter, with more positive changes and increasing endogenous power. It is expected that China’s economy will keep picking up in the fourth quarter. China is still an important engine for the steady growth of the world economy.

　　Lan Foan said that promoting supply-side structural reform is the only way to achieve high-quality development. China will actively promote the eight actions of building the "Belt and Road" with high quality, support the Asia-Pacific economies to deepen supply-side reforms, accelerate the modernization process, and provide new impetus for global common development.

　　# Number reading

　　China’s household photovoltaic installed capacity exceeded 100 million kilowatts.

　　According to the data released by the National Energy Administration on the 14th, as of the end of September this year, the cumulative installed capacity of household distributed photovoltaics in China exceeded 100 million kilowatts, reaching 105 million kilowatts, boosting the total installed capacity of photovoltaic power generation in China to over 500 million kilowatts, reaching 520 million kilowatts. According to statistics, at present, the cumulative number of household distributed photovoltaic installations in rural areas in China has exceeded 5 million, driving effective investment to exceed 500 billion yuan.

　　From January to September this year, the installed capacity of household distributed photovoltaic in China was 32.977 million kilowatts, accounting for about half of the installed capacity of distributed photovoltaic, more than a quarter of the total installed capacity of photovoltaic in China, and 1.3 times of the installed capacity of household photovoltaic last year (25.25 million kilowatts). In terms of regional distribution, as of the end of September this year, the cumulative installed capacity of household distributed photovoltaics in Shandong, Henan and Hebei ranked the top three in China, with installed capacity of 24.48 million kilowatts, 20.84 million kilowatts and 16.66 million kilowatts respectively, totaling 61.98 million kilowatts, accounting for about 60% of the country.

　　# Post the list

　　China’s richest woman changed.

　　On November 14th, Hurun Research Institute released the 2023 Hurun Women Entrepreneurs List, listing the top 50 women entrepreneurs in this year’s Hurun Report. According to the list, Kuang Xiaoqing, wife of Sun Hung Kai founder Guo Desheng, became the richest woman in China for the first time with a wealth of 72 billion yuan. Wu Yajun, Longhu, was the richest woman from scratch in China for 66.5 billion yuan.

　　According to the list, Kuang Xiaoqing became the richest woman in China for the first time, mainly benefiting from the rise of the dollar exchange rate this year and the company’s dividends. Kuang Xiaoqing became the sixth richest woman in China in the past 18 years in Hurun’s list of women entrepreneurs. The top five were Zhang Yin (three times), Yang Huiyan (ten times), Wu Yajun (twice), Zhou Qunfei (once) and Chen Lihua (once).

　　In addition, Yang Huiyan, the richest woman in Country Garden last year, lost the most money (27 billion yuan), ranking fifth with 48 billion yuan. Wang Laichun, 56, from Luxshare (with a wealth of 53 billion yuan) and Zhou Qunfei, 53, from Lansi Technology (with a wealth of 42 billion yuan) are among the top ten, and their biggest customers are both Apple.

　　In terms of cities, Beijing is still the city where the most female entrepreneurs live, with seven, one less than last year; Shenzhen and Hong Kong tied for second place, with four each, also one less than last year; Foshan and Hangzhou tied for fourth place with three each. A total of 16 people live in Guangdong-Hong Kong-Macao Greater Bay Area.

　　# Personnel

　　Two provincial and ministerial officials took up their posts.

　　Official website of the Ministry of Culture and Tourism recently updated that Sun Yeli, Vice Minister of Publicity Department of the Communist Party of China and Director of the State Council Press Office, has also served as Party Secretary of the Ministry of Culture and Tourism. Prior to this, Hu Heping, member of the 20th Central Committee and vice minister in charge of daily work in Publicity Department of the Communist Party of China, also served as the Minister of Culture and Tourism and Party Secretary.

　　According to the website of Hunan Provincial Government, Zhang Yingchun has been appointed as the executive vice governor of Hunan Province. Li Dianxun, the former executive vice governor of Hunan Province, became the deputy secretary of Hunan Provincial Committee in September this year.

Xinhua News Agency, Beijing, March 23rd (Reporter Hu Hao)The case of illegal operation of vaccines in Shandong has recently aroused public concern about vaccines: what will happen if vaccines are not transported through the cold chain? Worried that the vaccinated vaccine is invalid, do you want to replant it? What’s the difference between the first-class vaccine and the second-class vaccine in transportation and use? At the media forum organized by the National Health and Family Planning Commission on the 23rd, experts from China’s immunization program answered questions of general concern.

Why should vaccines be refrigerated? How terrible is a vaccine that is not refrigerated?

Zhao Kai, academician of China Academy of Engineering and chairman of the National Committee of Experts on Immunization Planning: Vaccines are biological products made by various pathogenic microorganisms. Some vaccines are attenuated viruses, for example, the main component of measles vaccine is attenuated measles virus, which is alive; Have a plenty of inactivated vaccine, after the bacteria are inactivated, it is an active protein, which plays an immune function.

Therefore, vaccines are delicate. For example, vaccines are afraid of heat and light, and sometimes some vaccines are afraid of freezing. In order to keep the vaccine active, cold chain should be used in transportation.

Generally speaking, if there is no cold chain during the storage and transportation of the vaccine, the activity of the vaccine will be affected more or less, but it is also related to the length of time and temperature outside the cold chain.

As for whether vaccines that have not been transported by cold chain will have adverse vaccination reactions, two factors need to be integrated. One is to investigate the cold chain situation of illegal vaccine transportation, and the other is to investigate the monitoring situation of the information management system for suspected adverse vaccination reactions.

Wang Huaqing, MD, Chief Physician of China Center for Disease Control and Prevention: Theoretically, the vaccine involved is a vaccine produced by a regular manufacturer, not a fake vaccine or a fake vaccine. It has quality control in the early stage, and the safety risk will be less. The impact of not having cold chain transportation in the later period needs to be evaluated.

What is the relationship between class I vaccine and class II vaccine? What’s the difference between management?

Wang Huaqing: A class of vaccines includes three situations. First, 14 vaccines designated by the state prevent 15 diseases. Second, the increase of the provincial health administrative department is included in the national immunization plan. The third is the emergency immunization organized by the government. For example, if there is an epidemic, emergency immunization is needed, or it is possible to predict that the disease will become popular and organize group vaccination, which all belong to the first type of vaccine.

The first type of vaccine is vaccinated free of charge; The second kind of vaccine is self-funded and voluntary.

The management of the second type of vaccine is technically the same as that of the first type of vaccine. The technical requirements are the same whether in circulation or use. However, its procurement methods are different and its supply channels are different. The procurement of the first type of vaccine is carried out by the government, and then distributed step by step through the disease control system, and finally to the inoculation unit. The second type of vaccine is based on the regulations on the management of vaccine circulation and vaccination. Production enterprises can supply it directly to business enterprises, or to disease control departments and vaccination units. Business enterprises can supply disease control institutions, vaccination units or other business enterprises. So the channels are different.

Is there any difference in quality between domestic vaccines and imported vaccines?

Zhao Kai: The technological level of domestic vaccines is completely similar to that of foreign countries. In particular, the quality of vaccines, China’s 2010 edition pharmacopoeia and the European Union’s pharmacopoeia standards are the same. Some domestic vaccines and imported vaccines have been compared or observed, and they are all the same.

Every batch of vaccines produced in China must undergo compulsory inspection and audit before they are put on the market, which is called "batch inspection". Those that fail are not allowed to go on the market. I think this quality is guaranteed.

Wang Huaqing: Actually, domestic vaccines and imported vaccines require the same standards, and they will not enter the market until they reach the standard. Most of our country uses domestic vaccines, and the control of infectious diseases in China is the contribution of domestic vaccines. If there is no domestic vaccine, the control of polio, hepatitis B and measles in China will not be so good. These are all the effects obtained by inoculating children with our own vaccines. Therefore, the final evaluation depends on whether the disease has been controlled after the application of the vaccine and whether its suspected abnormal reactions have increased. In fact, from our monitoring, there is no big difference between domestic and imported vaccines.

How to deal with vaccines near the shelf life? Is it possible to vaccinate the public with expired vaccines?

Han Cheng, director of Desheng Community Health Service Center in Xicheng District, Beijing: As a primary health service center, our vaccine procurement path is very strict, and there are also strict regulations on the validity period. Drugs that have expired in the past six months cannot enter the procurement and distribution system, and the system will automatically block them. It is impossible to enter the organization. In addition, the purchase of vaccines is on a monthly basis, and one batch is used up before entering the second batch, and it is cleaned once a month, and it is uniformly distributed and purchased by the Beijing Center for Disease Control and Prevention.

How do I know if my vaccine is a problem vaccine? Can it be traced back?

Han Chengcheng: The batch number of the vaccine can be traced back. Each child has a batch number corresponding to each medicine, which can be checked. Therefore, it can be traced back to which child a batch number was hit. The validity period of the vaccine, the time of vaccination, etc. are also completely traceable.

Wang Huaqing: When the vaccine enters the disease control system, there will be a receipt form, when it was delivered, the process of delivery, its temperature, the varieties delivered and the quantity, all of which have a complete receiving record. In the process of use, there are two records, including the parents’ signature, when and what vaccine the children took, which company and the batch number. One is the vaccination certificate in the hands of the parents, and the other is the record or vaccination card of the electronic information system.

Is it necessary to confirm whether the vaccine is effectively vaccinated by antibody testing? Is it necessary to replant the vaccine?

Wang Huaqing: If you were not vaccinated in childhood, when should you replant? Different vaccines are different, which needs to be judged again.

We are all very concerned. Did I succeed after the vaccination? The international general principle is that there is no need for testing, because if the vaccine reaches a high vaccination rate, the whole population will have a barrier.

Vaccination, under normal circumstances, does not mean that everyone produces protection, because the main function of vaccine is a group. For example, if 80% to 85% of polio is successful after taking sugar pills, polio will be blocked and eliminated.

If everyone is vaccinated, we will build this crowd barrier. If some people are vaccinated and some people are not vaccinated, the disease may become popular in the future. Therefore, to control an infectious disease, we must maintain a very high vaccination rate in vaccination, especially in the use of vaccines in the national immunization program. If the vaccination rate is not high, then the disease will become popular.

Yao Wen (right), special correspondent of Quanzhou Agricultural Science and Technology Xingchuang Tiandi Technology, gave technical guidance to farmers on the prevention and control of pests and diseases of Camellia japonica. Photo by Zhang Peng

　　"Relying on the scientific research achievements resources and talents’ technical advantages of the units where the science and technology commissioners are stationed, we have accelerated the transformation and industrialization of modern agricultural scientific and technological innovations, and hatched and cultivated a number of high-value ’ Agricultural enterprises with high added value. "

　　In Yongchun Zhihui Valley, Xingchuang Tiandi, Fujian Province, Lin Zhirong, a college student, has grown from an entrepreneurial "Xiaobai" who is responsible for the new media promotion of health tea projects to a maker who runs two tea online stores in partnership, realizing a wonderful "turn" in life.

　　This is due to Zhihui Valley’s "helping hand": under the guidance of Zhihui Valley’s entrepreneurial tutor and Associate Professor Zheng Shuangyang of Jiangxia College, with the help of Zhihui Valley platform resources, Lin Zhirong’s project signed a number of tea gardens, and after only six months of operation, it has achieved profitability. In January this year, the turnover of a single store exceeded 100,000 yuan. This is a microcosm of the construction of Xingchuang Tiandi in Quanzhou. Up to now, the city has cultivated 37 star-creation worlds at all levels, including 13 national ones, ranking first in the province in total.

　　"Facing the needs of rural agricultural development in the new era, Quanzhou has played the role of science and technology Commissioner ‘ Mechanism activity ’ , constantly explore new modes of innovative science and technology commissioners’ work, take the lead in extending the service of science and technology commissioners to secondary and tertiary industries in the province, support science and technology commissioners to participate in the construction of Xingchuang Tiandi, accelerate the transformation and industrialization of modern agricultural science and technology innovation achievements by relying on the scientific research resources and talent technology advantages of the units where science and technology commissioners are stationed, and incubate and cultivate a number of ornamental and medicinal plant industries such as Anthurium andraeanum and Cymbidium, with ‘ Gao Yan value ’ Agricultural enterprises with high added value will further promote the innovation and entrepreneurship actions of science and technology commissioners. " Li Wensheng, director of Quanzhou Science and Technology Bureau, said.

　　Build a platform and build an agricultural cooperation exhibition field between Fujian and Taiwan

　　Located in quanzhou taiwanese investment zone, Taiwan Province Agricultural Technology Exchange and Promotion Center, the first national agricultural cooperation and promotion platform between Fujian and Taiwan in China, has exchanged and cooperated with well-known agricultural universities such as Taiwan Province University, Chiayi University and Zhongxing University all the year round; Relying on the construction of Quanzhou Academy of Agricultural Sciences, it is the first to carry out the work of corporate science and technology commissioners in the province, docking high-end resources such as academician workstations, and providing "one-on-one" training and guidance services … … Entering the first batch of national stars to create heaven and earth — — Quanzhou agricultural science and technology star creates a world, and a series of "soft and hard facilities" provided for settled enterprises and makers attract attention.

　　As the earliest enterprise introduced by Xingchuang Tiandi, which specializes in producing ornamental plant Anthurium, Fengquan Agriculture is benefiting from this. "Enterprises connect with Tang Hongling and Zhang Peng through the platform, introduce famous varieties of Anthurium, innovate supporting agricultural facilities, etc., and improve the quantity and quality of finished flowers. The flowering period is extended by 10 to 15 days year-on-year, which effectively improves the competitiveness of enterprise products." Chen Yilong, head of Fengquan Agriculture, said.

　　"By building the platform of Xingchuang Tiandi, we will build a bridge between scientific and technological achievements and makers, which will not only guide innovation and entrepreneurship such as special projects, but also strengthen technical cooperation with settled enterprises, and transform while researching, greatly shortening the agricultural scientific research achievements to ‘ Field ’ Distance, promote the popularization and application of agricultural technology and excellent crop varieties. " Zhuang Weidong, director of Quanzhou Academy of Agricultural Sciences and head of Quanzhou Agricultural Science and Technology Xingcheng Tiandi, said.

　　At present, Xingchuang Tiandi provides services for the whole process of incubation, cultivation and entrepreneurship of agricultural high-tech enterprises nationwide. Under its matchmaking, Fujian Jisheng Pigeon Industry Co., Ltd., a settled enterprise, has reached a cooperation agreement with Taiwan Province Youhui Biotechnology Co., Ltd., in order to further develop the market. Over the past year or so, 15 start-ups have rushed to settle in, and there is an endless stream of incubator seekers.

　　Promote transformation and tap new kinetic energy of characteristic industries

　　Nan ‘anhui Sweet Bee Family Farm, located in Xiangyang Township, Nan ‘an City, Quanzhou, is full of numbered beehives. "You can’t take too much honey in autumn. You should leave enough rations for bees in each box to ensure the survival rate in winter." Under the careful guidance of Professor Zhou Bingfeng of Fujian Agriculture and Forestry University, director of the National Bee Industry Technology System Feeding and Machine Function Research Office of Fujian Agriculture and Rural Affairs Department, the farm has developed and bred 500 colonies of undergrowth bees, with an annual output of 25,000 kilograms of honey and an annual output of 1.5 million yuan. Under-forest beekeeping has also become a characteristic industry to drive local farmers out of poverty and become rich.

　　Previously, as a relatively poor township in Nan ‘an, Xiangyang Township had few agricultural products sales channels, low per capita income and many poor households. Zhou Bingfeng found in the field investigation that the township is surrounded by mountains and the forest coverage rate is as high as 90%, which has a unique advantage in developing bee breeding and bee culture industry. Therefore, Zhou Bingfeng teamed up with Dushan Ecological Agriculture and Forestry Cooperative in Nan ‘an City and Nan ‘an Hui Sweet Bee Family Farm to carry out Industry-University-Research cooperation, and took the lead in creating the first Xingchuang Tiandi focusing on bee entrepreneurship in Fujian — — Huitian Bee Industry has created a new world, promoted the application of new technologies such as large-scale breeding of Chinese bees and healthy and efficient breeding of Chinese bees in the national bee industry technology system, and promoted the improvement of the local Chinese bee breeding technology level and the development and growth of the bee industry.

　　While providing entrepreneurial counseling and incubation services for the bee industry, Xingchuang Tiandi also provided free bee colonies, beehives and breeding technical materials to poor households with established cards, and signed an agreement to purchase bee products, driving 51 poor households to develop bee breeding to get rid of poverty and become rich. Up to now, Huitian Bee Industry Xingchuang Tiandi has settled in 32 agricultural enterprises, successfully hatched 10 enterprises and 44 entrepreneurial teams, including 40 entrepreneurial teams from poor households. The new agricultural business entities cultivated have created economic benefits of 50 million yuan every year.

　　Excavate new kinetic energy from traditional industries and discover new possibilities from emerging industries. In Quanzhou, relying on superior resources, there are many examples of introducing special departments to take the lead in building Xingchuang Tiandi and developing rural characteristic industries. For example, Anxi Tengyun Station Xingchuang Tiandi makes full use of the radiation of Taobao Town and Taobao Village, integrates resources through Xingchuang Tiandi, optimizes the combination of scattered family-owned workshops, promotes the transformation and upgrading of traditional industries, and makes rattan and iron technology production become the leading enterprise and pillar industry in Shangqing Township.

　　Huang Zhenxia, a researcher of Quanzhou Science and Technology Bureau, said that Xingchuang Tiandi has applied modern agricultural concepts to the transformation and upgrading of the whole agricultural industry chain, focused on cultivating new agricultural business entities, supported the development of new industries, new formats and new models, and promoted the development of traditional agriculture to "internet plus" modern agriculture, circular agriculture and leisure agriculture, and has continuously become a new force to promote the transformation and upgrading of Quanzhou’s agriculture.

　　Leading the way, cultivating "new farmers" who strengthen agriculture and promote agriculture

　　"Focus on building a high-quality agricultural science and technology innovation and entrepreneurship service platform. In addition to cultivating college students’ new entrepreneurs, Zhihuigu also supports entrepreneurs such as returning migrant workers and rural youth leaders who become rich, and stimulates more enthusiasm for innovation, entrepreneurship and wealth creation of agriculture-related enterprises." You Changsheng, head of Yongchun Zhihui Valley, said.

　　According to him, at present Zhihui Valley is connected with provincial-level science delegations and associate professor Wang Mingyuan of Huaqiao University, and together with provincial, municipal and county resident cadres in Penghu Town, Yongchun, it has created a "shared poverty alleviation station" to create a shared platform for local agricultural and sideline products to integrate production and marketing, and to change "blood transfusion" poverty alleviation into "hematopoietic" poverty alleviation, helping precision poverty alleviation work.

　　Behind the vitality of Zhihui Guxing’s creation of the world, there is a strong backing, the local leading agricultural enterprise and the demonstration base of Quanzhou science and technology correspondent — — Quanzhou jinsheng ecological agriculture co., ltd. The enterprise built Quanzhou Anoectochilus roxburghii Enterprise Engineering and Technology Research Center, and innovated the techniques of sexual propagation of Anoectochilus roxburghii seedlings and imitation of wild ground cultivation under the forest. Compared with the traditional anoectochilus roxburghii produced by asexual propagation, it is more authentic and has higher nutritional value. The cultivation has driven a group of makers like Lin Zhirong to settle in Zhihui Valley Xingcheng Chuangtiandi.

　　This is another innovative measure of Quanzhou’s layout of Xingchuang Tiandi: make full use of the technical strength of science and technology commissioners, make use of the advantages of capital, manpower, technology, market and management of leading enterprises to build Xingchuang Tiandi, give play to its radiation-driven role, and build a group of "new farmers" who understand agriculture, love the countryside and love farmers, and help win the tough battle against poverty.

　　Li Wensheng said that in the next stage, Quanzhou will take Xingchuang Tiandi as an important starting point for scientific and technological work, promote the seamless connection between the system of science and technology commissioners and encouraging mass entrepreneurship and innovation, further stimulate the vitality of rural innovation and entrepreneurship, build a Xingchuang Tiandi platform suitable for Quanzhou’s development, provide rural science and technology entrepreneurship services for college students and returning migrant workers, promote the integrated development of primary and secondary industries, and drive millions of farmers to increase their income and become rich.

　　It is understood that since 2016, Quanzhou Science and Technology Bureau has gathered 392 entrepreneurial teams, 211 entrepreneurial mentors, served 370 start-ups and held 415 innovative and entrepreneurial activities by cultivating Xingchuang Tiandi. It is planned that by the end of 2020, Quanzhou will strive to cultivate 40 star-creation worlds at all levels and gather 5,000 talents of various scientific and technological innovations, and basically form an agricultural and rural innovation system with popular entrepreneurial subjects, diversified incubation objects, professional entrepreneurial services, networked organizational systems and market-oriented construction and operation. (Reporter Xie Kaifei correspondent Wang Yanshuang Wang Jianping)

　　There are not many days between "stepping on the brakes" in late April and regaining the upward trend since early May.

　　On May 20th, the international gold price once again set a record high. London gold price and COMEX gold futures price both broke through the $2,440/oz mark and continued to attack. Domestic gold prices opened sharply higher, and SHFE gold in Shanghai Futures Exchange hit 582.44 yuan/gram. (Source: Wind)

　　After a break in late April, the price of gold once again opened the rising channel in May.

　　In the past two weeks, the inflation, employment, economic growth and consumption data released by the United States have weakened in an all-round way, the US dollar index and US bond interest rates have fallen back at a high level, and the market’s expected first interest rate cut has been advanced again, and macro bets have boosted the recovery of gold prices; On the weekend, the risk worries caused by the geopolitical conflict in the Middle East fermented and brought more safe-haven funds into gold.

　　Since March this year, the global gold price has ushered in a remarkable surge, and the gold price has been "soaring" all the way, and the banner of a record high has been refreshed again and again. At present, in the face of the complex intersection of short, medium and long-term influencing factors, how do you view the future trend of gold prices? Standing above the $2,400/oz mark of COMEX gold, can you still allocate gold?

　　The gold of the times

　　"Sometimes Betrayal" and "Never misjudge. "

　　How to treat the future trend of gold price? In the long history, gold has experienced many "bull and bear markets" step by step.

　　Before 1970s, the global monetary system actually took gold as the "anchor", with the US dollar pegged to gold and the major western currencies pegged to the US dollar. After the collapse of the Bretton Woods system in August 1971, it declared the end of the gold-linked era.

　　Since then, gold has experienced nine complete big markets, lasting for 32 months on average and increasing by 172% on average.

Source: Wind, open sourceresearch institute

　　The boosting factors of each gold bull market are closely related to the context of its times and are different from each other. However, no matter how the times change, most of the time it revolves around several real pricing logics closely related to the characteristics of gold itself:

　　① Financial attribute: gold does not bear interest, but it bears interest when holding US Treasury bonds. As the opportunity cost of holding gold, the real interest rate of 10Y US Treasury bonds is negatively correlated with the price of gold.

　　(2) Safe haven property: When financial, economic and geopolitical fluctuations or crises occur, the demand for safe haven of gold is often increased, which leads to a risk premium.

　　③ Currency attribute: Gold has certain substitution for the US dollar system, and the weakening of US dollar credit will benefit gold.

　　4 Commodity attributes: Gold can resist inflation, and the dollar will depreciate with inflation, so the higher the global inflation, the higher the price of gold.

　　This round of gold rising cycle began in November 2022 and has lasted for 16 months, with an increase of more than 40%. Then, from the above pricing logic, what factors have started this round of gold bull market?

　　From the traditional pricing framework, gold is a non-interest-bearing asset, and the real interest rate is the opportunity cost of holding gold. In other words, the interest rates of gold and US debt are in the same boat, and the downward interest rate will push the price of gold higher.

　　The rush of funds to the Fed’s interest rate cut expectations and the expectation of the easing cycle often become the catalyst for the rise of the gold market.

　　In the second half of last year, the Federal Reserve officially completed the current round of interest rate hikes for 11 times. After that, the US economic data slowed down in October, and the Fed’s interest rate meeting in November was biased. So far, it is the most historical interest rate hike cycle in the United States since 1980. It has basically become a consensus that when interest rate cuts become the general trend, gold will enter the rising market.

　　The trend of gold in the past 20 years can be found that the market of gold often begins with the end of interest rate hike, and finally monetary tightening or economic recovery. For example, at the end of interest rate hike in late 2006 and late 2018, the price of gold started a big rising cycle and the market went all the way to the end of the interest rate cut cycle.

　　However, in this gold bull market, we will find that the trend of gold has undergone subtle changes, and it seems that it is no longer satisfied with its limited play under the dollar order.

　　Especially since the beginning of this year, gold has become the focus not only because of its remarkable increase, but also because of its "challenge" to the traditional pricing framework: the law that the real interest rates of gold and the dollar and the United States usually change in the opposite direction has "failed".

　　Since April, the nominal interest rate of 10-year US debt has surged to nearly 4.7%, the real interest rate has risen from 1.87% to 2.41%, the US dollar index has risen from 104 to 106, but gold has soared by over 7% for a time, and it has only recently been slightly adjusted back. (Source: Wind)

　　Is there a new and more important pricing factor at work in this seemingly contradictory trend, or is it just an illusion caused by short-term emotional excitement?

　　Tracing back to the source, the bottom of the logic is the ultimate deduction of the safe-haven property of gold in the process of reshaping the global political and economic system. The occurrence of deviation and the failure of the anchor actually increase the "fragility" against the dollar.

　　Gold is a mirror image of the dollar, and the market in recent years has cast a vote of no confidence in the dollar. Although after the collapse of the Bretton Woods system, the world entered the credit currency system represented by the US dollar, and gold no longer has the functions of circulation and pricing, but it still maintains the role of value storage. Therefore, once the credit currency system represented by the US dollar is in crisis, gold will rise sharply.

　　Internally, in recent years, the US finance has continued to expand substantially, the debt scale has accumulated rapidly, and the problem of fiscal sustainability has caused social concern. Fitch downgraded the credit rating of US debt, which became the internal cause of the credit decline of the US dollar system. The rise of geopolitical risks and the rise of anti-globalization thoughts are the external causes of the decline of the credibility of the US dollar system. The freezing of foreign exchange reserves in some countries in the geopolitical conflict between Russia and Ukraine accelerated this process.

　　Internal and external factors are superimposed, the credibility of the dollar system is declining, and the world has entered the process of "dollarization". Central banks around the world have turned to gold as an anchor to stabilize foreign exchange reserves.

　　Gold sometimes seems to "betray" the traditional analytical framework, but what is never misjudged is the trend and background color. The gold of the times is generally the same.

　　The golden age

　　"Megatrend" and "Masterpiece"

　　After experiencing record highs again and again, the value of short-term transactions will decrease when standing above the threshold of COMEX gold of $2,400/ounce. A smoother rise may need to wait for catalytic factors. This is a change, but there are some unchanged ones, which ensures that the value of gold in large-scale asset allocation is still outstanding.

　　On the one hand, the "megatrend" under the current narrative background of the world remains unchanged, the US debt problem is hard to return, geopolitical events are frequent, the pattern of anti-globalization and dollarization may be further deepened, or the global central bank will continue to increase its holdings of gold, and the logic of long-term rise in gold prices is still there.

　　First, in the second half of the year, with the gradual realization of the expected interest rate cut in the United States, the downward trend of the real interest rate of the 10-year US debt is expected to support the gold price to a certain extent. However, considering that the interest rate cut is expected to rush since 2023, the persistence and elasticity of the subsequent gold market depends on the change of the expected difference.

　　Second, this year may become the biggest election year in history. In recent years, overseas risk events have continued, and the global economic policy uncertainty index center has risen, which also provides room for high gold prices.

　　Third, the game between big countries in the fields of politics, economy, industry and finance has been fully rolled out. Anti-globalization has brought about an increase in friction costs, superimposed energy transformation and inflation stickiness in the service industry, and it may be difficult for overseas long-term inflation centers to fall back quickly.

　　Fourth, on the chess game of the global economy, changes are quietly staged, the US debt problem is hard to return, geopolitical events are frequent, and the supranational sovereign credit value of gold under the new paradigm will constitute the medium and long-term investment logic.

　　Historically, the emergence of every round of gold bull market is inseparable from the strength of the gold currency attribute, which reflects the changing forces of all parties in the international monetary system.

　　According to the data released by the central bank on May 7, despite the recent rapid rise in international gold prices, the pace of the Bank of China’s increase in holdings has remained basically stable. At the end of April, China’s gold reserves were 72.8 million ounces, compared with 72.74 million ounces at the end of March. This is the people since October 2022.For the 18th consecutive month, it increased its holdings of gold reserves, setting the longest holding period.

　　Statistics show that at present, the proportion of gold in China’s international reserves is only 4.32%, which is still far below the global average of about 14%. The proportion of gold reserves in the United States, Germany, Italy and other countries in the same period is over 65%, so there is still room for improvement in the future. (Source: World Gold Council; Publicly reported)

　　From this point of view, the participants in the short-term gold game seem to face a strong opponent, which makes investors who try to play short-term gold games seem unwise and difficult to win.

　　On the other hand, after the rise, the return risk characteristics of gold itself have not changed, and the low correlation with other assets still exists, which ensures that the value of gold in the allocation of large assets is still outstanding.

　　In recent 20 years, the correlation coefficient between gold and other common large-scale assets is less than 80%, and the correlation coefficient between gold and the main indexes of A-share market is less than 50%:

　　The trend of dollar gold and Shanghai gold is highly consistent: the correlation coefficient between SHFE gold and COMEX gold is as high as 0.98 in recent 20 years. Although Shanghai gold is affected by the exchange rate of RMB against the US dollar, from the perspective of long-term allocation, the trend of the two is highly consistent;

　　The correlation between gold and A shares is low: gold and CSI 300,Most of the correlation coefficients are within 0.5, and those with equity funds and hybrid funds are within 0.7. (Source:Institute)

　　Taking the most common equal weight strategy as an example, we observe the effect of moderately increasing the gold allocation in the allocation of 28-share debt and 64-share debt respectively.

　　The calculation shows that moderately increasing gold allocation in the allocation of 28-share debt and 64-share debt can achieve a better strategy of increasing income and reducing risk at the same time.

　　In the benchmark strategy of 2:8 ratio of stocks and bonds, if 10% of funds are removed from bond assets and 5% from stock assets, the average annualized rate of return will increase by 0.69 percentage points, the maximum withdrawal will decrease by 1.97 percentage points, the annualized volatility will decrease by 0.38 percentage points, and the annualized Sharp rate will increase by 0.199.

　　On the benchmark strategy of 6:4 ratio of stocks and bonds, if 15% of funds are removed from bond assets and 5% from stock assets, the average annualized rate of return will increase by 1.11 percentage points, the maximum withdrawal will decrease by 1.57 percentage points, the annualized volatility will decrease by 0.71 percentage points, and the annualized Sharp rate will increase by 0.091. (Source: Institute)

　　On the other hand, this forever shiningNo one can predict how long its history will develop. However, the history of gold over thousands of years makes people reasonably believe that future generations will also be fascinated by gold.

　　How to allocate gold? Physical gold has always been regarded as a "safe haven", which is more suitable for investors who pursue a sense of security and long-term value storage, but it needs to be carefully stored to prevent its value from being affected by wear and tear.

　　In contrast, gold-related theme funds, such as gold stock ETF or gold ETF, provide a more convenient choice for market transactions, but when the market is hot, it is also necessary to maintain the principle of rational investment and avoid paying for high premiums.

　　However, no matter which variety you choose, you must pay attention to the position control when allocating gold. Gold is more suitable as a part of asset allocation rather than a heavy position or a single layout, and the usual position ratio is 5-10%.

　　As far as the current gold investment is concerned, perhaps the answer before investors is this:Moderately downplay the short-term trading value of gold, look for the opportunity to point gold in the shock, and explore the gold value in asset allocation from the perspective of long-term allocation.

　　(Article source: Huaxia Fund)