(Reporter Sun Leqi) At present, the city is in the season of high incidence of respiratory diseases. The Municipal Health and Health Commission recently announced the list of 250 community health service centers providing outpatient services for children, which is convenient for children to seek medical treatment nearby. At the same time, the Municipal Center for Disease Control and Prevention reminded that schools are the key places prone to cluster epidemics, and children and adolescents are the key vulnerable groups. Schools should reduce organizing collective activities this winter.

　　The Municipal Center for Disease Control and Prevention requires that schools should strictly implement the systems of morning and afternoon check-up, registration and reporting of absence due to illness. When students are found to have fever, cough and other symptoms, they should wear masks for students and contact their parents in time, and seek medical treatment as required. Teachers and students infected with respiratory infectious diseases are not allowed to go to work and go to school with illness.

　　Classroom, dormitory, canteen and other public places should maintain air circulation, strengthen daily window ventilation, and do a good job in environmental sanitation. Schools should guide students to increase the frequency of hand washing after recess activities. Classes with suspected or clinically diagnosed respiratory infectious diseases should strengthen measures such as symptom monitoring, case management, disinfection and ventilation. Schools with a concentrated fever epidemic advocate that students in the class where the case is located wear masks during the epidemic. Considering that influenza, COVID-19 and other respiratory infectious diseases may occur after entering winter, schools should do a good job in health education for joint prevention of multiple diseases and reduce the organization of collective activities this winter.

　　Students who feel unwell should report to teachers and parents in time. Maintain good personal hygiene habits and pay attention to hand hygiene. Balanced diet, regular work and rest, moderate exercise to strengthen immunity. Add clothes in time during outdoor activities to avoid increasing the chance of infection due to catching cold. In the high-incidence season, activities in crowded places should be minimized to avoid contact with patients with respiratory infections, and masks should be worn when entering crowded places. Reduce going out when you have respiratory symptoms and wear a mask when you go out. After the child has respiratory symptoms and is diagnosed, parents should follow the doctor’s advice and rest at home to avoid repeated visits.

　　In addition, the Municipal Center for Disease Control and Prevention requires that all medical institutions should pay attention to the prevention and control of nosocomial infection while increasing the capacity of diagnosis and treatment services to avoid nosocomial infection caused by patients gathering. For patients with stable condition, superior medical institutions should adopt graded diagnosis and treatment measures or actively guide them to community hospitals to complete follow-up diagnosis and treatment, so as to alleviate the pressure of medical treatment.

　　In order to better protect children’s demand for medical treatment and facilitate children to seek medical treatment nearby, the Municipal Health and Health Commission recently released a list of 250 community health service centers providing outpatient services for children in this city.

　　BEIJING, Sept. 25 (Xinhua)-According to comprehensive US media reports, former US President Jimmy Carter and his wife Rosalyn Carter rarely appeared in their hometown of Plains, Georgia on the 23rd local time. Previously, due to health problems, Jimmy Carter largely faded out of the public eye.

　　According to reports, the Carters attended the Plains Peanut Festival that day. The Carter Center in the United States forwarded a video in which 98-year-old Jimmy Carter and 96-year-old Rosalyn Carter took part in the celebration in a black SUV.

　　The Carter Center also posted on social media that "President Carter and his wife enjoy ‘ Plain Peanut Festival ’ Beautiful weather! He will be 99 years old in a week. We bet there is peanut butter ice cream on the lunch menu! " It is reported that peanut butter is one of Jimmy Carter’s favorite foods.

　　The American Broadcasting Corporation (ABC) reported that this seems to be the first time they have gone out since Jimmy Carter was announced to receive hospice care seven months ago.

　　According to reports, Jimmy Carter is the oldest former president of the United States. Jimmy Carter served as the 39th president of the United States from 1977 to 1981. Since they left the White House in 1981, the Carters have been living in their home in plain, Georgia.

　　Jimmy Carter was diagnosed with malignant melanoma in 2015, and cancer cells spread to the liver and brain. After treatment, Jimmy Carter claimed to have recovered. In 2019, Jimmy Carter fell several times and underwent hip replacement surgery.

　　The Carter Center of the United States issued a statement on February 18, 2023 that Jimmy Carter decided to receive hospice care at his home in Georgia. According to the statement, after a series of short hospitalization, Jimmy Carter decided to spend the rest of his time at home with his family and receive hospice care instead of additional medical intervention. This decision was fully supported by his family and medical team.

　　Tianjin Port has a strong strength, and the car in our store is welcome to experience the real car. Add WeChat one-on-one video to watch the car in all directions, check the car and come back. Save time and worry about not mentioning the current car. Buying and selling is only the starting point, and service has no end! Welcome all bosses to visit for tasting. 24-hour car hotline: 18622910922 Yang Jingli (with WeChat)

　　23 Escalades, the body length is 5382mm, the width is 2059mm, the height is 1948mm, and the wheelbase is 3071mm. The ESV version is 5766mm in length, 2059mm in width, 1942mm in height and 3407mm in wheelbase. 22-inch aluminum alloy wheels are the standard of the new Escalade. The double six-spoke wheels of the sports model with the tire size of 275/50R22 are more dynamic, and the wheels of the luxury model in the small picture are more elegant.

　　The interior adopts a brand-new design style. The 7.2-inch screen on the left can display information such as fuel consumption. The 14.2-inch full LCD instrument panel in the middle and the 16.9-inch central control panel on the right. In addition, the rear row is equipped with two 12.6-inch touch entertainment screens. This new car offers a 7-seat version of 2+2+3, and an 8-seat version of 2+3+3 to choose from.

　　23 Cadillac Escalades not only give you a big house, but also provide a full set of high-tech configuration, which is equivalent to a full set of smart home equipment. Therefore, this car can not only accommodate standard-sized adults in the third row, but also have enough luxurious legroom in the second row. In contrast, everyone likes the layout of the second row, which is similar to the spacious design of aviation seats as we like in China. The second row is as luxurious as the first row, and what seats are heated, ventilated and massaged in the second row gets a good experience.

　　In terms of power, a 6.2-liter naturally aspirated V8 engine is adopted, with a maximum power of 426 HP (313kW) and a peak torque of 623 Nm. In addition, the new car also provides a 3.0T inline 6-cylinder diesel engine for the first time, with a maximum power of 281 HP (207kW) and a peak torque of 623 Nm. The transmission system is partially matched with the 10-speed automatic gearbox. For the first time, the new four-wheel drive car adopts multi-link independent suspension on the rear axle and provides air suspension and electromagnetic damping for the whole car.

　　Company Name: Hengtai Luxury Car Customization Center

　　24-hour car hotline: 18622910922 Yang Jingli (with WeChat) ?　

　　Company Address: No.43, Haibin Fifth Road, Bonded Zone, Tianjin Binhai New Area ?

　　Main brands: Rolls-Royce, Bentley, Toyota, Land Rover, Mercedes-Benz, BMW, Porsche, and other high-end brand models.

　　Disclaimer: The above car purchase preferential information is provided by the comprehensive dealers of this website, and the price fluctuates greatly due to market factors, which is only for car purchase reference; The distributor is responsible for its authenticity, accuracy and legality, and this website does not provide any guarantee or assume any legal responsibility.

Author’s preface：In the autumn of 2024, in the northern part of Stuttgart, Germany, the author started from Schwaikheim to Affalterbach (where Mercedes-Benz’s AMG department is located), the fast lane (up to 100 km/h) and ordinary city streets, and tested the latest Mercedes-Benz new energy vehicle EQE (which can be said to be the pure electric version of the E-class car). The author experienced the handling, comfort and automatic driving mode of the whole vehicle. The videos and pictures in the article were taken by the author or Mercedes-Benz colleagues in person.

Figure 1 The exterior of Mercedes-Benz EQE350 tested by the author 1

Basic parameters of Mercedes-Benz EQE

Length x width x height 4946X2103X1510, wheelbase 3120mm, cruising range 693km (WLTP road condition), battery capacity 90.5kWh, curb weight 3035kg and rated motor power 215kW.

Fig. 2 The exterior of Mercedes-Benz EQE350 tested by the author 2

Figure 3 Mercedes-Benz EQE350 interior tested by the author.

Static impression

Observing, EQE has abandoned the former style of being quite regular and business-oriented, and is close to the exterior of the coupe style as a whole, and the interior is still finely crafted, not forgetting the true colors of Mercedes-Benz; The ambient light that runs through the waistline of the whole vehicle has moved closer to China car companies; Mercedes-Benz has always been the leader of the industry (up to now, almost 90% of the armrest boxes of vehicles are modeled after Mercedes-Benz); What makes the author not particularly satisfied is the wood grain decorative board of the dashboard, which looks too "old school". In the digital and intelligent era, do you need to keep pace with the times here? !

The 90.5 kWh battery pack has a cruising range of 693 kilometers (WLTP), which is quite good for a motor vehicle with a curb weight of 3035 kg. DC fast charging power can reach 170kW, and it can be charged from 10% to 80% in 32 minutes, bid farewell to cruising range anxiety.

A variety of optional packages are dazzling: Advanced-Paket, Advanced-Plus-Paket, Premium-Paket, Premium-Plus-Paket, Night-Paket, from mobile phone integration, voice recognition, head-up display (HUD) to all kinds of assisted driving, including assisted autonomous driving.

Dynamic experience

　

Fig. 4 Photo of the author during the test drive of EQE350 (assisted autopilot mode)

The video author is on the way to test drive Mercedes-Benz EQE350.

The author often tells friends that if the driving mileage is also 500 kilometers, if you drive a Volkswagen Golf, you will feel that you have driven 500 kilometers after driving 500 kilometers. However, if you drive a Mercedes-Benz E-class car, you will feel that you have only driven 250 kilometers after driving 500 kilometers. This is the difference between the two cars. Handling, comfort and noise (NVH), Mercedes-Benz’s E-Class car has great advantages, which is not lost in EQE. Its handling and comfort are almost perfect. Of course, some models of China car companies, such as P7 of Xpeng Motors and M7 of Wenjie, have already caught up, and even BYD’s Yuan Plus EV is close in handling and comfort.

During the test drive, the author likes the constant-speed assisted autopilot mode: in the fast lane of the German town of Schwaikheim to Affalterbach, the author started the constant-speed cruise. Hands off the steering wheel, enter the "automatic driving" mode, drive in straight lines and corners, completely "automatic", and it will automatically slow down when there is a vehicle in front. It is very distinctive that if there is circular traffic ahead, it will automatically slow down when it recognizes circular traffic. However, it is up to the author to operate from which intersection to drive circular traffic. The steering wheel is equipped with a sensor to assist "automatic driving" for several minutes (? ), it (the vehicle) will prompt in the instrument cluster that the driver needs to hold the steering wheel again. After several times of prompting, the driver still does not hold the steering wheel, and it (the vehicle) will enter an emergency mode and automatically slow down to a stop to prevent the driver from "losing consciousness and losing control of the vehicle".

Headup-Display is a good configuration function and has the potential to replace mobile navigation.

price

The price of the EQE 350 test drive by the author is about 90,000 euros, equivalent to about 690,000 yuan. The entry price of EQE is 67,187 euros, about 520,000 yuan. Compared with M7 (starting from 250,000 yuan) or P7+(starting from 186,000 yuan) in Tucki, many car owners will ask, why?

1. The R&D cost of a single vehicle, if European car companies need 50 to 1 billion euros, equivalent to 3.85 to 7.7 billion yuan, while the R&D cost of bicycles of China car companies is only 350 to 700 million yuan, the gap is huge; If the R&D cost of bicycles is allocated to every vehicle sold (assuming that the sales volume of a single vehicle is 500,000 vehicles in its life cycle, and the gap of R&D cost allocation of bicycles is 7,000 to 14,000 yuan, the price gap of bicycles due to R&D cost allocation will be about 10,000 to 20,000 yuan.

2. Energy cost, taking electric energy as an example, is about 0.75 Euro/kWh in Europe, equivalent to 5.77 RMB/kWh, and the average industrial electricity consumption in China is 0.73 RMB/kWh, which is 8 times different! The energy cost difference of bicycles is about 3,500 yuan, and the price difference of bicycles is 5,000 yuan.

3. Labor cost, the average skilled worker in Europe is about 1 euro/minute, which is equivalent to RMB 7.7 yuan/minute, and the average skilled worker in China is 10 times (don’t misunderstand that the salary is 10 times, and various tax rates and social insurance (medical care, retirement, unemployment, etc.) in Europe are the main gaps), the labor cost of bicycles is about 10,000 yuan, and the price gap of bicycles is 150,000.

4. Material cost, the bicycle gap is expected to reach 70,000 to 160,000 RMB, especially in battery packs, motors, other electronic systems and wiring harnesses.

5. The premium gap of brands, the author does not make a detailed analysis here (interested readers can refer to an article published by the author in Geshi Automobile earlier, Brand Strategy of Automobile Enterprises).

Fig. 5 The author is on the way to test drive Mercedes-Benz EQE350.

To sum up, the total price gap at 1, 2, 3 and 4 o’clock is about 100,000 to 200,000 yuan, and the price gap between Mercedes-Benz EQE and the customer M7 or Tucki P7+ is not completely closed. With the passage of time, the gap in labor costs will continue to narrow. After reading this article, colleagues from China automobile companies and colleagues from European automobile companies can feel where there is a competitive advantage and where is the direction to catch up.

author　Dr. Liu xiaoyi(Founder and CEO of Guanyu Electromechanical Technology (www.costkey-solutions.com)), new production technology, vehicle planning (including new energy vehicles) and cost engineering of German Daimler Group (Mercedes-Benz) for more than 20 years; German physicist award winner; Expert in the automotive industry think tank of the "Changfeng Plan" of the Ministry of Industry and Information Technology; High-level technical management of Great Wall Motor and Haichen Energy Storage; Author of Cost Engineering System of Manufacturing Enterprises, the key book of China Gongxin Publishing Group’s "National Heavy Equipment Publishing Project"; Graduate enterprise tutor of School of Electronic Information and Electrical Engineering, Shanghai Jiaotong University; Visiting Professor, School of Automobile, Tongji University; Talent Exchange Center of Ministry of Industry and Information Technology/China Automobile Industry Training Base/Special Lecturer of Cost Engineering of Gao Dun Institute of Finance and Taxation; Author of Gai Shi Automobile’s Liu Xiaoyi Column; CostKey is the first SaaS software system of cloud enterprise-level cost engineering independently developed by Guanyu Electromechanical Technology in China, and won the Innovation Fund Award of Shanghai Science and Technology Commission.

　　On September 5th, Tesla released a road map on social media, and predicted to launch fully autonomous driving technology (FSD) in China and Europe in the first quarter of 2025. Although it still needs regulatory approval, it still attracts great attention. At the same time, Tesla’s plan to launch Robotaxi (driverless taxi) on October 10 this year has also caused widespread discussion. It is reported that the Tesla Robotaxi conference will be held in Hollywood studios, and its vehicle seats may lie flat and rotate.

　　In April this year, Musk made a "lightning visit to China" to speed up the landing of FSD. Obviously, as a representative of American technology enterprises, Tesla is not willing to lag behind China enterprises in the field of driverless driving.

　　It is worth mentioning that after years of development, China’s driverless industry has taken Beijing as the starting point and completed an amazing leap from technology research and development to application, which has blossomed in major cities across the country.

　　It is understood that as one of the most active cities in driverless innovation in the world, Beijing has been leading the way since it released the first self-driving road test and demonstration policy in 2017, and promoted technological innovation with policies. At the beginning of 2024, the demonstration area has achieved full coverage of 160 square kilometers of intelligent networked roads and smart city private networks, taking the lead in opening a number of commercial pilot services such as autonomous driving, and keeping ahead in supporting policies, opening test roads, supervision and management, etc.

　　At present, Beijing has covered eight main application scenarios, including self-driving taxis, self-driving minibuses, unmanned feeder vehicles, unmanned delivery vehicles, unmanned sanitation vehicles, unmanned patrol vehicles, self-driving heavy trucks and unmanned retail vehicles.

　　In Yizhuang, Beijing, driverless cars from radish Kuaipao, Xiaoma Zhixing and Wen Yuan Zhixing are driving in the streets, providing travel services for more citizens.

　　Behind Beijing’s support for driverless development is a new round of global technical competition. As an important landing scene of artificial intelligence, driverless driving has become the commanding height of global scientific and technological competition. In order to accelerate the development of unmanned driving in China, many experts have called for speeding up legislation and policy innovation at the national level, promoting the large-scale landing of unmanned vehicles, and keeping China’s unmanned driving ahead.

　　The unmanned large-scale landing faces the "stone of other mountains". What are the challenges?

　　Not only Tesla FSD has entered China, but in recent years, unmanned driving between China and the United States has been staged at its peak, which has also pushed the competition in the global unmanned driving industry to a fever pitch. At the same time, Germany, Japan, Britain and many other traditional automobile manufacturing countries have also joined the unmanned competition camp, implemented industrial deployment from the national strategic level, and made continuous legislative actions to seize the development opportunities of the unmanned industry by creating an "institutional highland".

　　At present, Chinese and American companies are neck and neck in the landing of driverless technology. As the world’s industry leaders, Waymo in the United States and Radish Run in China have both crossed the threshold of unmanned automatic driving test and are competing for the speed of large-scale landing.

　　According to the data released by Waymo on September 5th, as of June, 2024, Waymo has traveled 15.4 million miles in Phoenix, 5.9 million miles in San Francisco, 855,000 miles in Los Angeles and 14,000 miles in Austin. The cumulative mileage of unmanned vehicles in the four cities has exceeded 22.2 million miles, an increase of 212% compared with 7.1 million miles eight months ago.

　　It is worth noting that Waymo announced two weeks ago that its number of paid trips for unmanned vehicles in the United States has exceeded 100,000 times per week. This figure was only 50,000 in May, which means that Waymo’s weekly single volume has doubled in just three months.

　　It is observed that this growth is related to Waymo’s continuous expansion of service area and allowing more users to take its driverless taxis this year. It is understood that Waymo expanded its driverless travel service in the San Francisco Peninsula in March this year, and announced in June that it would open its driverless travel service to users all over San Francisco. More than 700 unmanned vehicles were carried out in prosperous urban areas such as San Francisco and Los Angeles in the United States. Full-time (7×24 hours), unmanned and chargeable scale operation.

　　With the recent opening of unmanned driving in San Francisco, the surge in the number of unmanned vehicles and the increase in the number of users covered, Waymo also surpassed Radish Run, the largest self-driving travel platform in China. According to public data, since it landed in Wuhan in May 2022, there are only over 400 unmanned vehicles in Wuhan, and the order volume per quarter is about 826,000 orders, with an average of about 68,000 orders per week.

　　In the industry’s view, the large-scale development of Waymo autonomous driving is inseparable from the open attitude and "leap-forward, fast-paced" approach adopted by the United States for driverless driving. Boldly let go at the regulatory level and give a green light all the way, giving Robotaxi the greatest development space.

　　In the view of Lv Benfu, vice president of China National Innovation and Development Strategy Research Association and professor of Chinese Academy of Sciences, it is the window of global intelligent networked vehicles development, and the opportunity is fleeting. China’s driverless technology is at the leading level in the world, and the policy actively supports industrial development. Only when enterprises actively embrace intelligent networked vehicles without hesitation will they not fall behind in the core frontier technology field in the future.

　　However, European and American countries are also actively developing the driverless industry. For example, in June this year, the British "Self-driving Car Act" was approved by the royal family, which established a complete legal framework for self-driving cars, including the vehicle authorization system. Self-driving cars can not only be legally on the road, but also be authorized to provide automated passenger services. The British government said that the Bill will pave the way for self-driving vehicles to run smoothly in the UK in 2026.

　　In fact, driverless driving is a new industry that needs to be developed in practical application. It has no practical significance in simulation test and unmanned road test. It needs to verify technology in complex and changeable real roads, improve cognitive ability in interaction with surrounding real vehicles and pedestrians, and solve practical problems in the road ahead, so as to make unmanned vehicles stronger and safer.

　　Zhang Zhuting, chairman of the Legal Work Committee of China Communications and Transportation Association and a senior researcher at Taihe Think Tank, said that the development of autonomous driving in China has been in a critical period of development. The passage of the Self-driving Car Act in Britain and the successive legislation in other countries have greatly inspired us. At the same time, intelligent networked new energy vehicles are the main application direction of artificial intelligence and an important field for developing new quality productivity. We should speed up the introduction of policies and regulations related to autonomous driving to ensure the leading position of China’s intelligent networked automobile industry in the world.

　　Experts call for speeding up the opening of legislation and policies and promoting the scale of unmanned driving.

　　In the development process of unmanned driving, policy opening is the booster of this technology from "laboratory" to "test site". Up to now, the General Office of the State Council has initiated the revision of the road traffic safety law and road transport regulations. At present, more than 10 cities across the country have promoted local legislation on autonomous driving, and six places, including Shenzhen, Pudong, Yangquan, Wuxi, Suzhou and Hangzhou, have issued legislative documents, while Wuhan, Beijing, Hefei and Guangzhou have accelerated the legislative process.

　　Taking Beijing as an example, it has maintained a leading position in many aspects, such as testing road opening, evaluation standards, guiding policies, and license issuance, and has become a dual highland of intelligent networked automobile technology innovation and policy innovation. Through multi-faceted technical exploration, Beijing has achieved a key breakthrough in the "China Plan" for the integration of vehicles and Lu Yun, and demonstrated "China Power" to the world with the "Beijing Model".

　　It is worth mentioning that in July this year, the Beijing Economic and Information Bureau solicited opinions on the Regulations of Beijing Municipality on Self-driving Cars (Draft for Comment), and planned to support self-driving cars for urban bus passenger transport, network car rental, car rental and other urban travel services.

　　"The" Draft for Comment "proposes to support self-driving cars for urban travel services such as urban bus passenger transport, network car rental, etc., which shows Beijing’s determination to promote the commercial application of autonomous driving technology." Wang Peng, a researcher at the Beijing Academy of Social Sciences, pointed out that clarifying the application scenarios of self-driving cars through legislation will not only help to broaden its market space, but also provide legal support for related enterprises to innovate and explore in different fields. In the future, with the continuous maturity of autonomous driving technology, these application scenarios will be further enriched and improved to provide citizens with more convenient and efficient travel services.

　　At the same time, the "Draft for Comment" clarifies the legal status of self-driving cars. For a long time, self-driving cars have faced many obstacles due to the lack of clear legal definition. This legislation is expected to formally confirm the legal status of self-driving cars from the legal level and provide legal protection for them to drive on the road. This not only helps to promote the research and development and application of autonomous driving technology, but also provides a more stable and predictable policy environment for related enterprises and investors.

　　Previously, many experts and scholars called for accelerating legislative and policy innovation at the national level, clarifying the legal status of self-driving cars through legislation, promoting the scale of unmanned driving, and continuing to lead the development of the global driverless industry.

　　Jiang Haoran, member of Chinese People’s Political Consultative Conference, secretary of the Party Committee and chairman of Hengyin Financial Technology Co., Ltd., said that at present, the local small-scale pilot demonstration policy of local driverless vehicles on the road is mainly based on the scientific experiment of autonomous driving. Due to the lack of strong support from the superior law, the large-scale pilot demonstration for industrialization is difficult. It is suggested to strengthen the top-level legislative design at the national level, seize the opportunity of the current revision of the Road Traffic Safety Law, build a sound collaborative support and supervision system for autonomous driving, solidly and effectively promote industry norms and local legislation, and ensure the large-scale road traffic of driverless vehicles; At the same time, it is clear about the conditions and procedures for drivers’ vehicles to pass on the road, and support the road right permission of drivers’ vehicles in the form of laws and regulations.

　　He Xia, former chief engineer and professor-level engineer of the Institute of Policy and Economics of China Information and Communication Research Institute, believes that local governments should make full use of legislation, data regulations and documents to continue to accelerate the path of large-scale commercial exploration of autonomous driving. With the gradual maturity of the industry, the lack of superior law and the disunity of local legislation will affect the development of the whole industry, so it is necessary to give autonomous driving an appropriate legal status from the national level.

　　"Local legislation on autonomous driving should be further accelerated. Factors such as employment problems, mature algorithm technology and safety concerns brought about by industrial adjustment should not hinder the acceleration of local legislation." Yu Lingyun, a professor at Tsinghua University Law School and director of the Public Law Research Center, said.

　　China News Service, Toronto, October 31, 2008. A round of hearing on Meng Wanzhou’s extradition case about the abuse of procedures by Canadian law enforcement agencies in the process of arrest ended on October 30, local time in the High Court of British Columbia, Canada. Witnesses from Canadian law enforcement agencies admitted that there were mistakes in the process of arresting Meng Wanzhou when they appeared in court for cross-examination.

　　During this five-day hearing, three witnesses from the Royal Canadian Mounted Police and the Border Services Agency appeared in court successively and were cross-examined by both the prosecution and the defense. This is also the first time to let the outside world know about the specific process of Canadian law enforcement agencies arresting Meng Wanzhou, vice chairman and chief financial officer of Huawei, at Vancouver International Airport on December 1, 2018.

　　Officer of the Royal Mounted Police admitted that the procedure was "wrong"

　　The first half of the court was Winston Yep, a police officer of the Royal Canadian Mounted Police. He admitted that he knew this was a "high-profile" case before he acted.

　　Ye gave an affidavit to the judge before the action, describing that Meng Wanzhou has "no connection" with Canada. He signed his name without verifying the background information, and later found that the content was inconsistent with the facts, but he did not make corrections or any remedial measures. He admitted that it was his "mistake".

　　In this case, the content of the affidavit is the only source of information that the judge can rely on when deciding whether to issue a provisional arrest warrant.

　　During the operation, law enforcement officers failed to "immediately arrest" Meng Wanzhou on the plane according to the arrest warrant. Ye explained that this was due to "security concerns" and respect for the "jurisdiction" of the Border Service at the airport, but he did not mention security or jurisdiction issues in any notes or documents.

　　Ye said that she was worried that Meng had anti-reconnaissance ability and that she carried a knife with her. However, when Meng Wanzhou got off the plane, the law enforcement officers did not search whether she was armed, but confiscated and searched her electronic equipment.

　　Ye also failed to comply with the prosecution’s prior request to write an event schedule after the action. For many details such as changing the action plan, Ye responded that he had "forgotten".

　　Meng Wanzhou’s defense lawyer said in court that Ye’s answers to some questions were not honest.

　　Border officials admitted giving the password to the police by mistake.

　　In the second half of the hearing, kirkland, an official of the Canada Border Service Agency, was the main person who appeared in court for questioning. He said that before the action, he learned that Meng Wanzhou was listed as a "national security" alert figure by the Canadian Border Service. However, after interrogating Meng, he thought that she was not involved in national security issues.

　　Kirkland said that he had collected Meng Wanzhou’s mobile phone and put it in a radiation-proof bag provided by the FBI. He denied that the Border Service was collecting mobile phones for the FBI, but he was not sure whether the RCMP would hand over the items to the US.

　　He admitted that he "inadvertently" handed the note with Meng Wanzhou’s mobile phone password and his mobile phone to the RCMP, which basically violated the privacy law. He said that he felt heartache and headache.

　　Kirkland also admitted that she was really worried that the delay in executing the arrest warrant due to the interrogation of Meng would affect her rights.

　　The defense lawyer of Bangladesh believes that the border service agency’s practice is a trick to use the privilege to interrogate Bangladesh without a lawyer present and without telling the real reason for the confiscation of the mobile phone.

　　The witness who briefly appeared in court in the last half day of this round of hearing was Bryce McRae, an official in charge of the Canada Border Service Agency. He confirmed that the day before Meng Wanzhou flew to Vancouver, the US Federal Bureau of Investigation called and "unusually" asked the Canadian Border Service to provide the telephone number of the supervisor on duty the next day. However, the next day, the FBI did not report electricity.

　　McRae said that he "can’t remember" some specific questions about the pre-action meeting and the process of intercepting and interrogating Meng Wanzhou.

　　Meng Wanzhou’s team of lawyers has always believed that there was procedural abuse in this case, so the extradition procedure should be suspended and three branches should be set up to appeal. One is to prove the political nature of the case with the statements of senior politicians in the United States; The second is to demonstrate that there is procedural abuse in the process of detention of Meng by Canadian law enforcement agencies at the airport; The third is to point out that the case records and other documents provided by the United States to Canadian officials are misleading, and there are major omissions and misstatements. This round of hearing belongs to the second branch.

　　In this round of hearing, the prosecution lawyer tried to prove that the arrests were in line with the process requirements, and the mistakes did not hinder the effectiveness of extradition.

　　Because the progress of questioning witnesses is slower than expected, the court will investigate the follow-up schedule, and will hold more sessions in November and December to continue cross-examination of witnesses and conduct hearings on other branches. The next hearing will begin in mid-November.

Dragon TV’s first documentary variety "Dear, Come to Eat" of urban observation food in China came to Hangzhou, a pilot city of national informatization and e-commerce. Under the epidemic situation, the program will be parachuted into Binjiang with concern about the living conditions of employees in the new economic industry. In this programme, guests Jerry, Li Sheng and Wong Cho Lam Li Yanan went into the families of video bloggers and e-commerce anchors respectively to record the warmth of their busy lives.

Video blogger "Meet Parents" and Jerry Li Shengcheng "Mentor"

In the program, guests Jerry and Li Sheng walked into the homes of video bloggers Yang Yadong and Chen Huimin. Although the small rental house was a little messy, they also decorated it with warmth and love, and the sweetness of their lives could be seen everywhere. Two people from Harbin and Qingdao stayed in Hangzhou to start a business after graduating from college. The post-95 couple edited their daily lives into short videos and posted them on a social platform, which attracted the attention and love of a large number of fans with a relaxed and humorous style. The good viewing volume and click volume of the video have brought economic benefits that can balance daily expenses.

But in my mother’s eyes, making videos can’t be a career that can support my family. After seeing her son’s life suddenly, she was worried that she would work too hard outside, hoping that he could return to his hometown Harbin to find a stable job and buy a house to settle down. The couple were obviously unprepared for their mother’s expectations, and Jerry and Li Sheng became their "mentors" and acted as "lubricants" between generations. How will they resolve the conflict of ideas between the two generations in one meal?

Entering the "anchor house", Wong Cho Lam Li Yanan helped "reunion"

On the other hand, Wong Cho Lam and Li Yanan met the "anchor family", and all four members of the family were engaged in the live broadcast of e-commerce. Because of the long time span of the live broadcast, it was difficult for the mother and twin daughters who broadcast live in different time periods to get together. In order to know more about the anchor’s daily life, Wong Cho Lam and Li Yanan decided to have this special dinner in the studio where they work.

During the live broadcast, Wong Cho Lam and Li Yanan met their twin sister Chufei Churan who was preparing for the live broadcast. They feel that the fast pace of work makes it rare for the family to sit together and have a meal. Even their birthdays can’t be celebrated with their parents. The unexpected arrival of Wong Cho Lam and Li Yanan has given the family a long-lost meal.

At the dinner table, my father frankly revealed the hardships of the sisters’ work: many times, they had no time to eat, so they could only eat two bites between live broadcasts; Always in a tense working environment, even dreaming will worry about insufficient inventory … … Words are full of concern and love for her daughter’s life. As a practitioner in the same industry, my mother pays more attention to the status of the two sisters at work, and often gives some professional suggestions and opinions.

In the program, the anchor dad also disclosed the criteria for choosing a husband. What is the perfect son-in-law in his heart? What interesting story happened at the dinner table? For more touching stories and warm-hearted moments, please look forward to the Dragon TV "Dear, Come to dinner" which will be launched at 22 o’clock this Saturday night.

The pre-sale of the Spring Festival in 2021 has been opened for 10 days, and the current total box office has exceeded 500 million.

　

Data source lighthouse professional edition

　

In terms of genre, comedy is the most in the seven works, followed by fantasy, and in the animation works, only children who make money by muffling their voices make a huge impact on the big movie "Bears Come and Go".New Gods: Nezha Reborn to welcome "a new chapter in the country"(hereinafter referred to as "Nezha Rebirth").

　

As the only adult-oriented animation work in the Spring Festival, the ambition of Nezha Rebirth was clearly seen in the early publicity.

Last Saturday, the film was shown in advance, which was the first operation in the Spring Festival movie.

　

todayPreview of 2021 Spring Festival moviesIn the fourth chapter, Xiaowan will come to talk to you about this new work of the bloody country.

　

The setting of Nezha Rebirth is quite interesting:

　

The creation background of this work is the well-known "Battle to Seal the Gods" and the classic legend that Nezha drew his sword and committed suicide after killing Ao Bing and injuring the Dragon King.

　

But these are just the background.

　

The new story is set 3,000 years after the gods were named, and the protagonists all live in a fictional new world called "Donghai City".

　

Different from the well-known story, Nezha here was not saved by Master and reborn with lotus flowers as her body, but escaped from the great war 3,000 years ago.Reincarnate and be reborn..

　

In this life, the object of Nezha’s reincarnation symbiosis was born in the civilian area of Donghai City.Hot-blooded locomotive youth Li Yunxiang.

　

There is Nezha in the East China Sea, and naturally there are his old enemies:

　

Donghai Longwang Ao Guang, this life disguised as Dexing group chaebol, in charge of the East China Sea city water lifeline, and strive to get rid of the bottom in the new round of ranking;

　

Three princes ao bing, it became the third young master of Dexing Group, and the image of the idle second sai-jo did not change;

　

Longwang Ao Guang hag

Died at the hands of Nezha three thousand years ago.yakshaThis life is still close to the Dragon King, and what I want to do is to slay Nezha to avenge my great hatred;

　

Disciples of Empress Shijierosy cloudsAlso followed closely, clamoring for Nezha to "take his life to pay the blood debt" …

　

The gods appeared in modern cities, but they were still entangled in blood feuds for generations. The script of Nezha Rebirth can be said to be very daring to write.

　

Caiyun image

Of course, it’s miserable or Nezha’s. A wisp of ghost is not enough to bring natural identity, and the divine power is also flickering and difficult to control. Before we know who we are, the vast enemies of past lives have come to you in turn.

　

This young man who can only ride motorcycles in the modern jungle of reinforced concrete seems to have a long way to grow up.

　

Classical mythology as the background, boldly open up a new generation., "Nezha Rebirth" This setting is really a risky move.

　

But if Xiaowan says it’sThe creative team comes from the 2019 explosion "White Snake: Origin"-light-chasing animation, does it sound inexplicably relaxing?

　

After all, in The White Snake: The Origin, the classic story The Legend of the White Snake is just the background, and the fate of Xu Xian, the white snake, is the subject of the story. The main contradiction between the two has even risen from "shemale" to the opposite of "snake demon and snake catcher".

　

This bold setting has been recognized by the audience’s word of mouth and the total box office of 470 million.

　

So two years later, director Zhao Ji boldly imagined the afterlife of Nezha and other immortals with his original team, believing that more audiences were expecting more than worrying.

　

Because,Light-chasing animation has always been good at "subverting tradition".

　

The subversion of the pursuit of light is not a drastic response to the classic story of magic change. On the contrary, they alwaysBased on the original story, do deep excavation forward and backward.

　

Retaining the original story to lay the background is to retain the audience’s familiarity and emotion with IP; Opening up new stories is actually a new requirement of modern audiences for emotional resonance.

　

Of course, the production of light-chasing animation can not only guarantee the wide opening of the brain and novelty of setting.

　

In "White Snake: The Origin", the strong Chinese painting style is touching, and the ink painting of the white snake is even more amazing;

　

Scene constructionIn fact, there are big scenes such as mountains and rivers and towns that are in line with the oriental aesthetics, and there is a unique hole in Baoqing Square that presents exquisite ingenuity.

　

Action sceneIt fully demonstrates the skills of light-chasing animation in lens splitting and special effects.

　

And all this will be reproduced in Nezha Rebirth.

　

Come back and say "punk Nezha", which makes people set it up.

　

Three thousand years after the gods were named, the gods lived in a fictional modern city in various capacities: Donghai City.

　

hereThe blocks are clearly divided.Li Yunxiang was born in a civilian area, the three princes of the Dragon King were representatives of the rich area, and the eye-catching masked man came from an industrial area and ran an underground racetrack, so he became attached to Li Yunxiang.

　

Obviously,This so-called division of blocks is the division of social classes.High-rise buildings in rich areas are neon, civilian areas are crowded and chaotic, and the shelter of masked people is a strong industrial wind …

　

Look familiar? This setting often appears in sci-fi movies, and we call it "Cyberpunk style".

　

The most important element of Cyberpunk:Mechanical transformation of human beings, "Nezha Rebirth" is everywhere.

　

Li Yunxiang’s steel armor, the East China Sea East King’s metal arm, the mysterious man’s exaggerated mask of combining Chinese and Western …

　

The most eye-catching thing is Ao Bingna, the third prince of the Dragon King.Metal spine instead of dragon tendon, it’ s so embarrassing to have no friends!

　

However, the characters are infinitely close to the future technology in modeling, which can’t define the tone of Nezha Rebirth.

　

Because of the heavy action scenes in the film, each character is fighting with the help of the original gods in previous lives.Mana or cold weapons, the elements of national style in the confrontation scene are outstanding..

　

As for why such an alternative "leather motorcycle" Nezha was presented, director Evonne said that "Nezha in the new era will also make people shine".

　

It is true that as the most rebellious representative of ancient mythological figures, Nezha has a vivid image in the hearts of every generation of China audiences.

　

The incarnation of the lotus flower with three heads and six arms in the early religious mythology, the stubborn child who killed the deity and the Buddha in the Romance of the Gods, and the tragic color of this role reached its peak in 1979 when Nezha hanged himself with a sword in The Sea.

　

But with the changes of the times,At that time, the social environment against power and patriarchy has been greatly improved.It is not an easy task to arouse a wide range of resonance by "cutting the meat back to the mother and eviscerating the bones back to the father".

　

This is also the reason why jiaozi, the director, roared with Nezha’s words that "my life is up to me" was sought after:The spirit of rebellion will never disappear, but the object of rebellion will always keep pace with the times.

　

In The Rebirth of Nezha, the image of Nezha portrayed by director Evonne is not only close to the present through the modeling of leather motorcycle, but also typical of contemporary rebellious young people in character: "He doesn’t want to take the road arranged by others, but wants to do what he thinks is right".

　

Therefore, even with the eye-catching setting, "Nezha Rebirth" is still the core that conveys the most resonance of modern young people:

　

If you don’t want to accept your fate, you will fight for it!

Spring Festival ticket delivery notice

When the Year of the Ox came, Xiaowan also prepared for everyone for 7 days.Spring Festival ticketing activities!

Pay attention to Xiaowan’s trumpet "WANDA CINEMAS Life" in advance.From February 9 to February 15,A total of 1100 cards were sent in 7 days.Send the ticket-grabbing guide to try your luck in the New Year ~

Subject to the actual push.

Note: Some pictures in this article are from Douban and the Internet. If there is any infringement, please contact us actively.

twelveOne day at the end of the month:

In the morning, I just saw a case of pneumonia infected by novel coronavirus in Wuhan on the Internet, and I heard some comments in the department, but after all, Wuhan is still a little far from Beijing, and everyone didn’t pay much attention to it. When the shift is over in the morning, the director of the department and the head nurse will remind everyone that we should strictly implement the fever screening process at work, do a good job of self-protection, wear a mask at work and wash our hands frequently.

oneMid-June

In January, the epidemic situation gradually escalated, and the situation was grim. My heart was a little drummed. It was a very sad experience for both patients and medical staff to suffer from infectious diseases.onemoon14No.1 began to receive the notice of prevention, control and supervision of infectious diseases issued by higher authorities. The department leaders attached great importance to it and repeatedly emphasized the prevention and control work, and the medical staff in the department paid more and more attention.

17Years ago, I experiencedSARS. And these young nurses were still in primary school. As a head nurse and an old nurse, I will share my past experiences with them every morning when my shift is over. When I am moved, my eyes are full of tears, and the nurses will be moved by me. They tell me: Don’t worry, we will be obedient, take good care of ourselves, and guard the triage desk to prevent the epidemic from entering the hospital.……I warned the young nurses that the best protection for patients is to guide patients with fever to follow the normal screening process and protect the environment of emergency treatment!

Emergency triage is the first pass for patients to see a doctor, and it is also the small peak of emergency treatment before the holiday. The daily emergency volume is as follows500Many times. Some patients don’t understand the process of fever screening, and they all come to the emergency room at the first stop; However, some patients are afraid of the fever clinic, unwilling to go to the fever clinic and go directly to the emergency department, which requires the triage nurse to do a good job in screening. Every day, the triage nurse takes pains to ask about the patient’s medical history, body temperature, whether there are flu-like symptoms, contact history in epidemic areas, etc. The triage nurse who screened out the fever patients will make a good registration, patiently explain and guide the patients to the fever clinic for screening. If the patient has no contact history with the epidemic area and has concerns about going to the fever clinic, the nurses will also take the initiative to escort the patient to the fever clinic to dispel the patient’s concerns.

To do a good job in emergency triage, we must be patient, careful and responsible. Niuxue—An old nurse in the emergency department is serious and experienced. At triage, a patient who had a history of traveling abroad caught her attention. Although the patient had a hospital visit a few days ago, she still didn’t relax, insisted on taking her temperature and asking about her medical history in detail, without ignoring every detail. The patient didn’t understand and didn’t want to go to the fever clinic. She took the initiative to report. Director Li Fengjie and I patiently worked for the patient, personally accompanied the patient to the fever clinic, and contacted the director of infection department to pay attention to this patient. It is precisely because of such high-quality and responsible emergency personnel that our emergency department is very safe!

onemoon22Day (December 28th)

I received an urgent notice from the hospital today, and the hospital is going to set up a medical echelon to build the Luhe River.—Isolation ward in Niubaotun campus. I sent a notice in the WeChat group, and everyone volunteered to sign up. To tell the truth, I really don’t know what young nurses are thinking now. However, to my surprise, the group immediately boiled up, from the old nurses in their fifties to the little nurses and advanced nurses who just joined the work, and everyone enthusiastically signed up. Zuo Feifei, an elderly male nurse in our department, was born less than a month ago in Erbao’s family, and her lover is in the hospital laboratory. He offered: At this moment, boys have to rush ahead! I quickly confided to him: the child is so young, does the family agree? Teacher Zuo seconds back: you can go at any time, no problem, mom and wife support it! Wang Xiaocui, a key nurse in Corey, is still breastfeeding and asked to go to the front line. She told me that she could go to the front line to work the night shift without breastfeeding! Yuan Wei, a young male nurse, didn’t work long. She sent a letter at the first time: Leader, I’m the first one. We boys are physically strong, so I’ll come first! Ji Jianjian: I spent a month in the A stream ward. I have experience. I’ll sign up! Teachers Zhang and Wang, who are in their fifties, are just like the children, unwilling to lag behind.……. Sitting in front of the computer, I can’t calm down for a long time, my eyes are wet, and my tears can’t help but stay. I posted a paragraph in the micro-group: I have experienced it.SARSI have felt the days of fighting side by side with my dearest friends and comrades-in-arms, and I have felt the most painful mental journey after my girlfriend got sick! Seeing everyone’s enthusiasm, full of emotion, and seeing the truth in times of crisis, thank you sincerely!

onemoon23Day (the 29th day of the twelfth lunar month)

The Spring Festival is coming, Wuhan is closed, and people all over the country are cheering for Wuhan! Yuan Wei, a nurse, got married this year. As a new uncle, she is going to pay a New Year call to her parents-in-law. After hearing the news, he immediately wrote to me: Leader, the situation is tense. I have returned my ticket and won’t go home. I’ll stay on duty or go to the front line, and my home work is done. Don’t worry!

Nurse Liu Xinrui made a New Year video entitled "The Best of Us" for everyone. In the video, we are fully armed and meticulously guarantee basic medical care for patients, and we can’t see their faces and smiles. At the end of the paragraph:2003The emergency department didn’t flinch in 1998,2020We are invincible in 2008! Yes, both mentally and technically, we emergency patients are ready! All of us are United as one to overcome the difficulties together. The emergency team is invincible, come on Luhe, come on Wuhan!

onemoon24Day (New Year’s Eve)

On this special Spring Festival, Chen Xu, the deputy head nurse, and I were on duty in the emergency room during the day shift and one at night! I can’t take care of the New Year’s greetings. I patrol the rescue room and triage desk over and over again, check the protection of on-the-job personnel, and guide patients and their families to wear masks. It is said that the masks on the market are out of stock, and the hospital leaders are very open-minded. All patients and their families who enter the emergency department will be provided free of charge without masks, and the doctors and patients will fight the epidemic together!

At six o’clock in the evening, director Xi Wei of the nursing department brought a New Year gift with the officers of the nursing department: a beautiful cup saidHappy holidays, hard work! It is very important to instruct us to make emergency triage, and guide the nurses to do a good job of protection. Although the director’s eyes are tired, his eyes are firm and give us confidence!

At eight o’clock in the evening, Dean Ji led the hospital leaders to pay a New Year call to everyone. The dean personally taught our young doctors and nurses how to wear masks and how to keep goggles from fogging. In the special period, the leaders are always careful and warm-hearted, which makes our frontline medical staff warm! The staff canteen brought jiaozi to everyone. Nurse Xu Ning said happily: jiaozi is particularly fragrant this year!

onemoon27Day (New Year’s Day)

Today, a patient was sent in, who had chest pain for some time and was afraid to come to the hospital for treatment. When he was sent to the emergency room, his breathing and heartbeat had stopped, and everyone refused to give up. He was wearing a thick mask, panting and sweating, and he had been doing cardiopulmonary resuscitation for a long time. How I hope to keep this young life!……

Faced with such a situation, it is understandable that patients are psychologically worried and everyone is afraid. The more special the period, the greater our responsibility. Just as the leaders of the hospital said, Luhe should have the spirit of responsibility in the face of the epidemic. While fighting the epidemic, we will ensure the basic medical care of the people in the region. Emergency personnel, cheer up, re-deploy our process, let the patients feel at ease, control the first level of emergency, and let the departments that accept patients have confidence. The patients who should be hospitalized will be admitted, and the moment of the operation will not wait!

Luhe—Niubaotun campus is about to be opened, and emergency doctors Jiang Zhifeng and Yue Xiaoyan are going to the isolation ward! Well done, emergency personnel. You are warriors and our pride!

onemoon29Day (New Year’s Eve)

The epidemic situation has developed rapidly. Many directors and head nurses in the hospital have not rested these days. Director Li Fengjie has been living in the hospital, coordinating the treatment of patients after fever clinic and emergency screening. An ambulance roared into the emergency room. A patient was breathing very weakly. Without any hesitation, Dr. Haotian Wang asked the medical history before screening others, and quickly rescued him. Only a senior nurse was left in the resuscitation room to cooperate with the emergency opening of the airway, and the rescue was done in one go! The family members thanked the medical staff for their rescue, saying that they had read a lot of reports about the epidemic recently, and the ambulance was worried that it would be complicated to go to the hospital to delay the rescue. Wang Dafu said: We are medical staff, no matter what the environment, saving people first! When the voice declined, the ambulance sent another patient with chest pain. He put down his unfinished medical record, began to review the electrocardiogram, opened a green channel, completed the screening process in the shortest time, and escorted the patient to the catheter room for emergency surgery. No matter what the environment, emergency medical staff will give priority to saving people, which is the responsibility and responsibility of our Luhe medical staff!

At three o’clock in the afternoon, the nursing department held an emergency meeting, and the superior informed Wuhan that there was a shortage of nurses to organize.21A reserve team of nurses supported Wuhan for a short time.360Many people signed up to support Wuhan, and Director Xi Wei shed tears of excitement. Our nurses are so cute, and Luhe is very happy with you! EmergencyN4Teacher Yan Jing and Xu Bolong, nurses, entered the big list and were ready to support Wuhan. Corey was boiling. The rest nurses moved half the materials from home and supermarket. Director Li Fengjie brought a whole bag of diapers at the first time, and Director Jin Aichun sent a pile of thick socks. Wuhan is wet and cold, so let’s wear warm clothes. Teacher Xie, the warehouse keeper, while counting the protective materials, told everyone not to waste reasonable protection. Let’s bring enough materials to the nurses who are about to go out! In the WeChat group, Teacher Yan Jing sent a message: I love you, I love you all, and I accept all the love. I feel that there is a smooth road ahead. Although I haven’t gone yet, with your love, my immunity has soared! Just go to work in another place, and everyone should take good care at home! Xu Bolong said: My grandfather was born in the army, and grandpa said, this is war!

These days, I feel more and more sentimental. My four-year-old daughter holds my arm every day when she goes out. I hope I can stay at home with her for one day. My daughter is very sensible because her father told her that her mother has an important job. See all kinds of greetings from relatives and friends on WeChat, see all kinds of information sent back by frontline colleagues, see the silent efforts of every Luhe person, see the information from time to time in Wuhan ahead, eat the hot soup noodles donated by the society, and we are full of gratitude for those who have no time to drink water! Love colleagues, love patients, love Luhe, we are strong emergency medical staff, as long as we have confidence, we will certainly win this epidemic war!

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

　　I. The industry in which the company is located during the reporting period.

　　(a) the company’s industry

　　1. Support policies have been introduced one after another, and outdoor sports industry has ushered in new opportunities for development.

　　In recent years, the state has paid more and more attention to the overall development of outdoor sports industry, and successively and intensively introduced a number of supporting industrial policies. In July 2023, the State Sports General Administration issued the Work Plan on Restoring and Expanding Sports Consumption. The plan points out that restoring and expanding sports consumption should be given priority, and puts forward three main measures: increasing the supply of high-quality sports products and services, enriching sports consumption scenes and consolidating the foundation of sports consumption. The promulgation of the "Program" is of special significance for the recovery of outdoor sports consumption. In October 2023, the National Development and Reform Commission, the State Sports General Administration and other departments issued the Action Plan for Promoting the Construction and Service Improvement of Outdoor Sports Facilities (2023-2025). The plan proposes that by 2025, the supply and demand of outdoor sports facilities construction and service quality will be effectively connected, the participation groups will be more extensive, the competition activities will be more abundant, the professional talent team will continue to grow, and the safety supervision policy system will be more sound. A number of outdoor sports development highlands with good development foundation, complete service guarantee, strong local characteristics and excellent supporting industries have been formed nationwide, and the total scale of outdoor sports industry has been promoted to 3 trillion yuan.

　　2. Outdoor sports groups tend to be younger, with strong consumption power and great communication influence.

　　The trend of rejuvenation of outdoor sports industry is a remarkable market phenomenon, which mainly benefits from young people’s pursuit of a healthy lifestyle and their desire to explore new things. The White Paper on Trend of Outdoor Sports Industry of Taobao Tmall in Spring and Summer of 2024 shows that young people aged 18-29 account for nearly 40% of the outdoor sports market, and consumers of this age group have become the backbone of the market. In addition, the spending power of young people in outdoor sports is also constantly improving. The White Paper on Sports Development of Young People in China in 2022 shows that the average annual consumption of young people in China is 7,237.6 yuan, of which 18.1% spend more than 10,000 yuan. This increase in consumption level reflects young people’s attention to outdoor sports and their willingness to invest in it.

　　As the main consumer in outdoor sports market, young people not only occupy an advantage in quantity, but also show a trend of youthfulness in consumption behavior and choice. Their participation and consumption behavior have played an important role in promoting the development of outdoor sports industry.

　　3. The outdoor industry is experiencing explosive growth, and the market potential is huge to be tapped.

　　With the popularity and diversification of outdoor sports, out shoes clothing and other related products have also ushered in a huge market demand. More and more consumers begin to pay attention to the functionality, comfort and fashion of outdoor products, which also brings more development opportunities for the outdoor products market. According to Hongze’s research data, in 2023, China’s out shoes clothing market has reached about 45 billion yuan, with a compound growth rate of nearly 20% in the past three years.

　　On the one hand, the popularity of outdoor activities, such as camping, skiing, hiking and mountaineering, has promoted the penetration rate of outdoor activities, attracted more and more participants, and brought a steady stream of consumer demand for outdoor products industry. On the other hand, the phenomenon of "breaking the circle" of out shoes clothing has also contributed. Its application scene is no longer limited to professional outdoor activities, but expanded to urban business and leisure areas. This change not only expanded the audience of out shoes clothing, but also further tapped the market potential. Under the joint action of these two factors, the high prosperity of outdoor products industry has been continuously improved, and the market potential of outdoor products has been further enhanced.

　　4. The consumer market continues to recover and rebound, and the market vitality continues to emerge.

　　According to the data of the National Bureau of Statistics, the total retail sales of social consumer goods in 2023 was 47,149.5 billion yuan, an increase of 7.2% over the previous year, and the scale reached a record high. According to the retail format, in 2023, the retail sales of physical stores above designated size increased by 5.0% compared with the previous year, among which the retail sales of convenience stores, department stores, specialty store and brand stores increased by 7.5%, 8.8%, 4.9% and 4.5% respectively. In 2024, as the national economy continues to pick up and improve, relevant policies to promote consumption will continue to be effective, new consumption formats and new models will be gradually cultivated and expanded, the income of urban and rural residents will continue to grow, and the expansion of the consumer market will be consolidated and enhanced.

　　(2) The market position of the company

　　Since its establishment, the company has been deeply involved in the outdoor sports industry and committed to the upgrading of the outdoor sports industry. The company develops, produces and distributes high-function professional outdoor sports goods, continuously cooperates with local governments and sports associations, and steadily lays out the comprehensive quality education section for parents and teenagers, which has formed a good reputation and brand reputation in the industry. It is a leader in the development of outdoor sports industry in China and has been rated as "National Sports Industry Demonstration Unit" by the State Sports General Administration.

　　

　　II. Main businesses of the Company during the reporting period

　　(a) the main business of the company during the reporting period

　　The company’s main business is to develop and sell professional high-quality outdoor sporting goods, organize outdoor sports events, and build a comprehensive outdoor quality education experience platform for parents and teenagers. Through the integration of various business sectors, it provides consumers with all-round products and services, encourages and helps people to go outdoors, exercise healthily, and fully practices the life concept of harmonious coexistence between man and nature.

　　During the reporting period, the company completed the acquisition of the 100% equity project of Shanghai Feiwa Trading Co., Ltd., which specializes in the distribution and agency of high-end hiking shoes brands and owns the exclusive agency of Italian handmade shoes CRISPI in China, obtained the exclusive sales and operation agency of HOUDINI, a representative brand of Nordic outdoor aesthetics, signed a joint venture agreement with Klttermusen AB, and completed the relevant registration procedures of the joint venture company in March 2024.

　　In 2023, the company achieved an operating income of 846.4 million yuan, a year-on-year increase of 50.51%; The total profit was 31,377,800 yuan, a year-on-year increase of 192.68%; Among them, the net profit attributable to shareholders of listed companies was 36,534,000 yuan, a year-on-year increase of 210.91%. By the end of 2023, the total assets of the company were 1,105,053,600 yuan, and the net assets attributable to shareholders were 688,769,500 yuan.

　　1. Focus on building the brand matrix of "own+exclusive agent" and complete the transformation from channel operation to brand operation.

　　(1) Focusing on the brand positioning of X-BIONIC sports black technology, we will continue to deepen the product design and development, channel development and construction, marketing promotion and membership system development of X-BIONIC.

　　"X" stands for technology, creativity, future and infinite possibilities, "BIONIC" stands for bionic technology, and X-BIONIC embodies the spirit of exploration, technology and passionate movement for dreams.

　　During the reporting period, the company focused on X-BIONIC’s own brand operation business, integrating R&D, design, commissioned processing, channel construction, marketing and sales, and met different types of consumer demand through the channels directly operated by the company, such as shopping malls, ski resorts, outdoor multi-brands, multi-category collection stores, traditional and emerging e-commerce platforms and live broadcasts.

　　The company continues to intensify research and development, adheres to the concept of combining X-BIONIC technology functionality with advanced fashion sense, and perfects and enriches various product lines based on product application scenarios. On the basis of the existing close-fitting products representing the professional height of the industry, the product R&D team continues to launch professional outdoor and functional business products, and has established in-depth partnership with international high-quality fabric suppliers such as GORE-TEX, Schoeller, Polartec, Pertex, Primaloft, Allied Feather and Down, etc., to jointly design and produce various functional products. Including all kinds of hard-shell jackets, soft-shell suits with different thicknesses, cotton-padded jacket, water-repellent down jackets, snowboarding suits, snowboarding suits, business jackets, business down jackets, business three-in-one down jackets, business down coats and other high-value products, as well as various trench coats, jackets, long and short T-shirts, sweaters, various hiking pants, business pants, running pants and other excellent products suitable for sale in spring, summer and autumn, covering outdoor climbing and hiking. Among them, the soft shell category with Schoeller soft shell material as the core has won special praise from users and great attention from the market, which has established the height of the soft shell industry that "not all soft shells are called Schoeller". At present, the category of X-BIONIC products has been basically completed and constantly optimized.

　　In 2023, the company opened six X-BIONIC brand stores in Beijing DT51, Shenzhen Vientiane City, Changchun Vientiane City, Beijing Badaling Ole, Beijing SKP and Beijing Shi Jinglong Ski Resort respectively. By December 2023, X-BIONIC had opened 22 single-brand stores (including 10 shopping malls and 12 ski shops) and 30 outdoor channel brand stores (including 28 Sanfu comprehensive stores)

　　X-BIONIC sponsors outdoor sports events and athletes by holding a number of brand and membership activities, and helps brand development in different fields. Invite champion users such as Xu Mengtao, Olympic champion of freestyle aerial skills, and Wang Xindi, world champion of freestyle aerial skills, to come to X-BIONIC Beijing SKP Winter Store to participate in Valentine’s Day activities, attracting many stars and sports bloggers to take photos and punch in the store to help X-BIONIC offline channel marketing; X-BIONIC Hangzhou flagship store and Changchun Vientiane City store opened, and invited international supermodel He Sui and short track speed skating Olympic champion Ren Ziwei to attend the opening ceremony and offline publicity activities respectively; The title is Chongli International Triathlon Challenge and the 24th Sanfu International Triathlon; Sponsored cross-country runners Wang Xun and Tony chen, and won the men’s and women’s championships in the 168 km group of the 2023 Suzaku 168 Super Cross-country Race respectively; Sponsored EMBA-A teams from cheung kong graduate school of business and China Europe International Business School to participate in the Gobi Challenge of Xuanzang Road, and won the Ge 17 championship and Ge 18 championship respectively; To pay tribute to the 70th anniversary of the first human summit of Mount Everest, X-BIONIC sponsored two female mountaineers, Gu Xiaoxi (the first person in Chongqing to reach the north slope of Mount Everest) and ISA, to successfully reach the top of Mount Everest, the world’s highest peak, in May 2023. Cooperate with Richie Jen, Kenny Lin, Jane Zhang, Jeff Chang Shin-Che, Zhang Lanxin, Zhao Lina, Huang Xiaolei, He Chong and many other stars and champions to publicize the brand. During the reporting period, we cooperated with more than 200 sports and fashionistas.Promote and plant grass for products on platforms such as Xiaohongshu and Tik Tok, and continuously deepen the brand power of X-BIONIC.

　　Establish and improve the X-BIONIC brand operation team, including commodity department, exhibition department, training department, member marketing department, brand store sales management department, etc., to achieve refined operation management; At the same time, according to the different business districts and customers, we will implement differentiated and precise operations to improve store efficiency and service; The store display image is presented according to the quarterly theme and product style planning. Through the design of quarterly props and the monthly store display guidelines, the offline image is improved and unified management; Continuously improve the overall training framework and content, cover employees at all levels with the help of online platform, and improve the service level and customer experience of the store; We have carried out many interactive activities such as skiing, cross-country running and city running, which has increased the stickiness of members and the recognition of products. During the reporting period, X-BIONIC recruited 23,000 new members, accounting for 90% of member sales.

　　In 2023, X-BIONIC achieved an operating income of 214,861,600 yuan, a year-on-year increase of 69.36%.

　　(2) National exclusive agency brand

　　The exclusive agency brands in China include Italian handmade shoes and boots brand CRISPI, Swedish classic brand Klattermusen, Nordic outdoor aesthetics representative brand HOUDINI, classic tooling shoes and boots brand DANNER, tactical backpack brand Mystery Ranch and professional out shoes brand LA SPORTIVA.

　　1) Italian handmade ingenuity inherits the brand CRISPI of shoes and boots.

　　CRISPI shoes adhere to the traditional Italian hand-made shoe-making technology, combining modern technology and Italy’s unique fashion taste. After entering the China market for 16 years, it has won the favor of the vast number of consumers in China with its "comfortable running-in" experience.

　　During the reporting period, the company closely communicated with CRISPI brand, cooperated in new product research and development, adhered to CRISPI’s unique DNA, combined Italian handcrafted ingenuity with new shoemaking technology, and combined functionality, high quality and fashion sense with a full understanding of the China market. Based on product application scenarios and different usage scenarios of China consumers, the company improved the product line matrix and launched diversified exclusive and first-time high-quality products from China. Including MONACO retro version, MONACO low top, MONACO Martin boots, etc., the categories cover hiking, outdoor, fashion wear, sports and other scenes.

　　In 2023, the company developed the CRISPI brand vision system and the use standard, completed the upgrading of 12 CRISPI brand image zones in the company’s multi-brand and multi-category comprehensive stores, and cooperated with 6 dealers to complete the upgrading of CRISPI brand image zones simultaneously.

　　In terms of marketing, in addition to continuing the successful market operation mode in the past, we have conducted in-depth cooperation with many KOLs, professional, fashion media and outdoor mainstream media, and combined brand professionalism with fashion trends. The content of official account of CRISPI brand has been upgraded, which has more brand depth and tonality, increased the stickiness of fans, greatly increased the brand exposure in bilibili, Xiaohongshu, Tik Tok and other major platforms, and continuously expanded the brand volume.

　　In 2023, CRISPI achieved an operating income of 79.77 million yuan, a year-on-year increase of 97%.

　　2) Swedish classic brand Klattermusen

　　During the reporting period, the Swedish classic brand Klattermusen performed brilliantly, with three single-brand stores and one pop-up shop in Hangzhou Tower, Shanghai Kerry, Beijing Guomao and Shenzhen Vientiane World Pop-up respectively. Continue brand exposure on social media platforms such as bilibili, Xiaohongshu and Tik Tok, and cooperate with many KOLs to promote and increase brand exposure and search popularity. Xiaohongshu, Tik Tok, WeChat WeChat official account and Weibo achieved double-digit growth, and opened Xiaohongshu Store and WeChat applet store, with the number of Xiaohongshu fans reaching 15,000.

　　In 2023, Klattermusen realized an operating income of 117.33 million yuan, a year-on-year increase of 188%.

　　3) HOUDINI, the representative brand of Nordic outdoor aesthetics.

　　HOUDINI brand is committed to the concept of environmental protection, and the research and development of environmental protection technology fabrics has set a benchmark in the environmental protection field of functional outdoor clothing; Creating a product recycling economy model has won consumers’ recognition of the long-term value of HOUDINI products; The leading design concept of HOUDINI brand is different from the unique competitive advantages of other brands, emphasizing the philosophy of harmonious coexistence with nature. The product pursues minimalist design, adopts advanced and low-key Mo Landi color system, and is loved by many female consumers.

　　In July 2023, the company and Houdini Sportswear AB Company formally signed the Exclusive Agency Agreement. In October, the first store of HOUDINI brand area image in China settled in Shanghai Sanfu Wanti Store, and then quickly opened HOUDINI brand area in Beijing Sanfu Xiangyun Town Store, Beijing Sanfu Madian Middle Store and Qingdao Sanfu Aofan Center Store, and in the second half of 2023, HOUDINI Tmall Flagship Store, HOUDINI JD.COM Flagship Store, Houdini Sports Outdoor Tik Tok Flagship Store and Houdini Outdoor Tik Tok Flagship Store were opened. In terms of wholesale, in 2023, we opened two HOUDINI brand area images in cooperation with distributors, and started to prepare the first self-operated China brand store of HOUDINI Shopping Mall, constantly expanding and improving the sales channels of HOUDINI brand.

　　During the reporting period, HOUDINI and Polartec China held a business opening event, which successfully created a loud momentum for HOUDINI to enter China, conducted in-depth cooperation with many KOL, professional and fashion media and outdoor professional media, combined brand professionalism with fashion trends, greatly increased brand exposure in bilibili, Xiaohongshu, Tik Tok and other platforms, and continued to expand brand voice.

　　DANNER, the classic American tooling shoes and boots brand exclusively represented by the company, represents the brand spirit of courage, tenacity and freedom, and is committed to providing customers with the best products with high-quality fabrics and techniques, which is the core of Danner’s 90-year inheritance and enduring; MYSTERY RANCH, the global leading brand of heavy backpacks, has won unanimous praise from the market and backpack users for its powerful backpack system, durable quality and unique design. LA SPORTIVA, a professional out shoes brand, is considered as a brand specially born for mountain sports, which is mainly suitable for technical mountain sports such as high altitude mountaineering, alpine climbing, rock climbing, skiing mountaineering and cross-country running. At present, DANNER, MYSTERY RANCH and LA SPORTIVA are mainly sold through e-commerce platforms such as Tmall, JD.COM and Tik Tok, and their product attention continues to increase and maintain steady development.

　　2. Actively adjust the layout of sales channels, rapidly expand the sales business of emerging e-commerce platforms, optimize the product structure of multi-brand and multi-category chain retail channels, and promote the image updating and upgrading of offline retail stores.

　　During the reporting period, the company actively adjusted the distribution of sales channels according to the changes of public consumption habits, focused on Tik Tok, Xiaohongshu and other emerging e-commerce platforms to create a traffic matrix, set up new multi-brand and multi-category comprehensive flagship stores in Xiangyun Town, Beijing, Lilac Town, Shenyang and Xinguang Tiandi, and built a single-brand collection store in Hangzhou Ping An Financial Center. (1) Through the combination of retail channels, it provided consumers with more convenient goods supply and optimized the shopping experience.

　　The company attaches great importance to the business presentation of emerging e-commerce platforms, with outstanding results in the layout presentation of platforms such as Tik Tok, WeChat applet, Xiaohongshu and Aauto Quicker. It has successively opened and operated a number of live broadcast channels such as Sanfu outdoor franchise store, CRISPI official flagship store, klattermusen sports flagship store in mountain rat, HOUDINI sports outdoor flagship store, X-BIONIC sports outdoor flagship store, DANNER official flagship store, mysterious farm official flagship store, LA SPORTIVA outdoor flagship store, etc. The operation mode and services tend to be mature, and the performance continues to grow steadily. Adhering to the concept of "striving to provide users with quality products and worry-free services", the company’s online operation team actively improves the quality of online business, optimizes e-commerce related workflows, including page design, user pre-sales and after-sales services, logistics and distribution, and makes every effort to enhance users’ shopping experience in the whole process of selection, purchase and after-sales.

　　In 2023, the number of public outdoor customers increased, mainly taking camping, light hiking, cross-country running, go on road trip and other outdoor activities, and these activities showed a continuous growth trend. In view of the demand of these products, the company increased the stocking of suitable products, increased the exhibition area of stores, and optimized and increased competitive brands, aiming at providing one-stop shopping service for outdoor sports enthusiasts.

　　In the post-Winter Olympics era, ice and snow sports and ice and snow tourism continue to heat up. The company has opened 12 ski resorts in Beijing, Chongli, Jilin, Xinjiang and other high-quality ski resorts, with a full range of goods, including (single and double) snowboards, anchors, snowshoes, helmets, snow goggles, snow clothes and protective gear. And according to the needs of skiers, we constantly introduce new products, such as fast-wearing fixer, gloves with palm protection, XRD protective gear, shadow stone 360 and other products. Some ski resorts provide members with services such as storing snowboards, repairing and maintaining snowboards, and provide convenience for members.

　　Offline stores attach importance to community activities and word-of-mouth marketing. In 2023, 183 community activities were organized, including hiking, camping, city running, cross-country running, CITY WALK, rock climbing and store sharing sessions. The number of offline retail members increased by 44,386, an increase of 43.6% compared with 2022. As of December 31, 2023, the total number of store members was 381,000, accounting for 82% of sales, an increase of 21% compared with 2022. The repurchase rate of members was 40.22%, an increase of 9% compared with 2022. The number of old members accounted for 52.9%, the number of new members accounted for 47.1%, the sales of old members accounted for 59.7%, and the sales of new members accounted for 40.3%.

　　3. Quality-oriented construction of outdoor sports events.

　　During the reporting period, the Sanfu event was dominated by its own boutique event IP, and continued to focus on triathlon and cross-country running. The X-BIONIC 2023 Chongli International Triathlon Challenge, the X-BIONIC 2023 China-Beijing-Tianjin-Hebei Triathlon and the 24th Sanfu Triathlon, the "Growth Medal" Little Triathlon Beijing Station and Xiamen Station, and the 2023 Dajingmen Ancient Great Wall Cross-country Race and adidas TERREX 2023 were successfully held. These events have attracted athletes and participants from all over the world, especially the Chongli 168 Super Cross-country Race. The race routes are specially designed according to the local natural environment, historical sites and cultural heritage, which is a combination of sports, culture and tourism. From 2,000 contestants in the first session to nearly 10,000 contestants this time, the total number of applicants exceeded 50,000 in seven years, which indirectly affected the participation of nearly one million people. Now it has become one of the largest, largest and most influential outdoor sports events with mass participation in North China and even the whole country, and was rated as the 2023 boutique event by Hebei Provincial Sports Bureau, which enhanced the company’s popularity and brand influence. In terms of competition organization, Sanfu competition pays more attention to the management process and details, strengthens the training of volunteers and staff, improves the overall service quality while ensuring the smooth competition process, and ensures the safety of contestants and spectators during the competition.Provide participants with a better competition experience; Form strategic cooperation with many media such as Little Red Book and Weibo to expand the exposure and influence of the event. Combined with the trend of cultural and creative works, the cultural and creative and public welfare products developed for the event activities have also been well received by the majority of participating enthusiasts and outdoor sports enthusiasts.

　　During the reporting period, Sanfu Group Construction continued to deepen the field of high-end outdoor group construction of enterprises, seized the hot period of traveling group construction, and successively reached cooperation with Didi Chuxing, () and other companies. Combined with the current outdoor craze and exquisite lifestyle, we will formulate a new outdoor group building plan for our customers. Throughout the year, many projects were successfully held, such as 100-person desert Gobi hiking group building, 1,000-person camping family carnival day, and high-end customized travel group building. At the same time, combined with the current consumption concept of the crowd, the Beijing-Tianjin-Hebei small-scale enterprise group building was launched, and more than 200 group building projects such as "Olympus Fun Games", "Sanyuan and Warriors Challenge" and "Learning to Think Ten Thousand Meters" were successfully held, with more than 20,000 service enterprises, which was recognized and widely praised by the majority of corporate customers and industrial organizations.

　　Beijing Sanfu International Dream Travel Agency, a wholly-owned subsidiary of the company, is responsible for the business of the activity department, undertakes the qualification training of outdoor tour leaders in chinese mountaineering association, and has hundreds of contracted tour leaders with outdoor qualifications all over the country. The business scope is mainly in Beijing, Chengdu and Shanghai, and at the same time, it recruits outdoor travel enthusiasts nationwide through online travel. During the reporting period, the activity department mainly took mountain outdoor travel as the carrier and some stores as the support, received more than 7,000 outdoor travel enthusiasts and released nearly 100 outdoor travel routes. Activities such as the New Year’s Eve in Wulanbutong, 300km cycling around Hainan Island, hiking on Wugong Mountain, and crossing the snow valley and snow country in Northeast China are highly praised by outdoor travelers. Sanfu outdoor activities are not only the choice of healthy lifestyle for outdoor travel enthusiasts, but also the messenger of green ideas. In the activities, we advocate and adhere to the principle of non-trace Shan Ye: do not use disposable goods, reduce garbage generation and take it all out of Shan Ye, reduce the impact on nature, and let outdoor enthusiasts re-understand the relationship between man and nature. Sanfu Activity Department, as one of the "departments closest to users", actively undertakes the responsibility of equipment recommendation officer. The product experience, feedback collection, experience in using outdoor products, knowledge popularization and other related exchanges of the company are widely spread in the activity community every day, which has made positive contributions to promoting the company’s brand, enhancing customer stickiness and improving the company’s products and services.

　　4. Steady operation of comprehensive outdoor quality education for parents and teenagers.

　　During the reporting period, the company smoothly operated the comprehensive quality education business of "Squirrel Tribe Parent-child Outdoor Paradise+Eagle Safety Education and Training +SANFO HOOD Wild Luxury Camp+Sanfu Little Warrior".

　　Facing the fierce competition in the parent-child market, Shanghai Xile constantly seeks new breakthrough directions, and renews some original projects in different parks of "Squirrel Tribe". According to the actual situation, different parks introduce new projects such as glass water slide, go-karting, wooden house camp and scarecrow art festival, which brings diversity and rich experience to the products of "Squirrel Tribe". At the same time, thanks to the support of domestic youth quality education policies, the marketing promotion of "Squirrel Tribe" on traffic platforms such as Tik Tok and Xiaohongshu, and the renewal iteration of park projects, the number of visitors to the park increased significantly in 2023. Chengdu, Wuhan, Zhengzhou and Nanjing received a total of 601,200 tourists, up 25% year-on-year. However, bad weather (heavy rain in Wuhan and Nanjing), low-price competition and other market environments have also brought adverse operational impacts to the parks.

　　Guizhou Eagle focuses on safety education, focusing on "making 300 million children safer" and creating "a place where all ages 0-99 need to study", and actively upgrades its brand and business. During the reporting period, Guizhou Yingji applied for and obtained two national utility model patent certificates of "Half-body Aviation Training Warehouse for Emergency Escape" and "An Emergency Escape Training Inclined Building" certified by China National Intellectual Property Administration; Hosting the "Sichuan and Guizhou Emergency Safety Education (Base) Development Forum" and establishing the Eagle Safety Education Research Institute, won the title of National Research Travel Base, the qualification of Guizhou Provincial Sports Tourism Demonstration Base, and the "Top Ten Pioneer Projects Award of Global Emergency Industry" and other qualification awards, which provided strong professional support for the subsequent research and development of related courses in the field of safety education and the re-optimization of the curriculum system. He has participated in many projects, such as the symposium on the mid-term evaluation report of the implementation of the national "14th Five-Year Plan" youth sports development plan and the on-the-spot investigation and investigation in Guangzhou enterprise base, which has enhanced the confidence and mission of the company’s employees, stimulated their enthusiasm and innovation, improved their personal professional knowledge and skills, and supported business development and development. In 2023, Eagle Safety Education completed 230 safety trainings and drills, with 70,056 person-times, an increase of 56% compared with 2022.

　　During the reporting period, SANFO HOOD focused on the "camp+"operation mode, and newly established two boutique campsites, "Wild Camp" and "Plant and Planet Camp" in Beijing and Chengdu, respectively, combining camping with group building, scenic spots, Internet, farms, food and other activities to empower the brand. Committed to the quality education for young people, Sanfu Little Warrior cooperated with Chengdu Luhu Scenic Area for a brand-new upgraded version of children’s outdoor activities, and completed a good result of more than 1,000 families participating in a single event; The SANFO HOOD Wild Camp, which landed at the Beijing station of Sanfu Little Warriors, pioneered the concept of camping+competition, built a complete ecological chain of outdoor entertainment for users, and focused on users’ participation experience, which was well received by parents and families in Beijing. In 2023, the Sanfu Youth League was extended to the Youth Military Summer Camp/Winter Camp project. With mature systematic operation experience, new media matrix marketing methods and upgrading the inherent parent-child private domain traffic, nearly 1,000 groups of young families were successfully signed up to participate.

　　5. Build an intelligent logistics supply chain system

　　During the reporting period, in order to meet the rapidly growing demand for self-owned brand stocking, e-commerce and offline store delivery, Sanfu Supply Chain built an industry-leading digital warehouse by introducing advanced warehousing technology and equipment, providing important infrastructure and omni-channel supply chain services for all brands, departments and subsidiaries, realizing fast, safe and efficient transportation of goods, reducing inventory costs and brand operation costs, improving customer satisfaction, etc., thus promoting the development and competitiveness of all brands of the company.

　　Through the above business segments, the company provides consumers with all-round products and services, builds an outdoor ecological platform with business users as the core, links people with outdoor brands, people with outdoor products, people with outdoor sports and people with outdoor education, and realizes customer group transformation among multiple segments, thus building a complete internal and external cycle of outdoor industry.

　　(B) Analysis of business information of retail industry

　　1. Store operation

　　By the end of the reporting period, the company had opened 54 professional outdoor products chain stores in 17 cities, including Beijing, Shanghai, Nanjing, Hangzhou, Chengdu, Shenzhen, Shenyang, Changchun, Qingdao, Shijiazhuang, Suzhou, Wuxi, Zhangjiakou, Dalian, Jilin, Tonghua and Altay, with a total area of about 21,000 square meters.

　　(1) Distribution of stores at the end of the reporting period

　　Description: Ski shops in the above table refer to X-BIONIC single-brand shops opened in ski resorts.

　　(2) During the reporting period, the situation of the top 10 stores with sales revenue.

　　(3) Store business income

　　In 2023, the company’s store business income was 417,065,900 yuan, accounting for 49.28% of the company’s operating income.

　　(4) Store changes

　　1) Opening new stores

　　2) Close the store

　　(5) Store efficiency information of comparable stores during the reporting period.

　　1) Comparable stores refer to stores with comparable sales data for the same period in 2022 and 2023.

　　2) The above does not include closing stores in 2023.

　　3) Floor efficiency refers to the sales per square meter of business area during the reporting period.

　　2. On-line sales during the reporting period

　　During the reporting period, the company’s transaction volume on third-party online e-commerce platforms such as Tmall, JD.COM, Tik Tok and Micro Mall was RMB581,144,400, and its operating income was RMB325,856,300. Among them, thanks to the rapid development of interest e-commerce platform, the sales growth rate in Tik Tok is obvious. In 2022, the company official website linked the online sales to the third-party e-commerce platform where the company was located, and stopped selling.

　　3. Procurement during the reporting period

　　(1) Supply situation of the top five suppliers in each commodity category

　　(2) Inventory management policy

　　In terms of inventory management, the company has applied ERP invoicing management and WMS warehousing management system, which can know the inventory situation in real time, and the data of goods warehousing, warehousing and distribution, sales outbound and end-of-season inventory can be reflected in real time, and the sales and inventory data of various stores in the country and the inventory structure of various categories can be obtained at any time from the system; The company’s R&D department, product department and operation department will formulate the safety inventory of each category, and arrange the replenishment quantity in time when it is out of stock, so as to ensure the continuous supply of sales demand and avoid the stagnation of goods.

　　(3) the policy of dealing with unsalable and expired goods.

　　For unsalable goods, the company will take the form of opening outlet stores, big promotions in spring, summer or late autumn and winter, temporary sales, e-commerce platform channels, micro-malls and other forms for sale according to different situations; For expired goods, the shelf life management regulations shall be strictly followed, and the principle of first-in-first-out shall be guaranteed. For temporary goods, measures such as returning to manufacturers and bundling promotion shall be taken, and expired goods shall be destroyed and included in the loss.

　　As for the impairment provision policy, it shall be measured at the lower of cost and net realizable value on the balance sheet date. If the inventory cost is higher than its net realizable value, provision for inventory depreciation shall be made and included in the current profit and loss. On the balance sheet date, if the factors influencing the previous write-down of inventory value have disappeared, the write-down amount will be restored, and it will be reversed within the amount of the original provision for inventory depreciation, and the reversed amount will be included in the current profit and loss.

　　4. Warehousing and logistics during the reporting period

　　The company has a supply chain company, with Suqian, Jiangsu and Sanhe, Hebei as the main storage and logistics bases, which are used to quickly turn around and store the full range of goods sold by the company’s own brands and agents, including outdoor clothing, shoes and socks, equipment and so on. The goods purchased by the company or the products commissioned for processing and production are first sent to the warehouse logistics base, and then transported to the store or the place designated by the customer through the third-party logistics company or the company’s logistics vehicles. During the reporting period, the warehousing expenditure was 2,624,200 yuan, and the logistics expenditure was 8,491,300 yuan, of which the self-owned logistics expenditure accounted for 1.64% and the outsourcing logistics expenditure accounted for 98.36%.

　　5. Own brand

　　During the reporting period, the company’s own brand business income was 253,399,200 yuan, accounting for 32.74% of the company’s main business income. Among them, the business income of X-BIONIC products was 214,861,600 yuan, up 69.36% year-on-year.

　　

　　Third, the core competitiveness analysis

　　(A) the acquisition and operation of sports black technology brand X-BIONIC brought huge development space

　　X-BIONIC has been widely recognized by many professional athletes in the world for its powerful black technology attributes. "X" stands for technology, creativity, future and infinite possibilities, "BIONIC" stands for bionic technology, and X-BIONIC embodies the spirit of exploration, technology and passionate movement for dreams. After acquiring the ownership of "X-BIONIC" and "X-SOCKS" brands in China, the company absorbed and integrated its advanced technology, accepted the popularity and reputation of its international brands, combined with international and domestic R&D and production capacity adapted to the market, and closely cooperated with major international suppliers of high-quality raw materials, relying on the company’s accumulation in the outdoor sporting goods industry for many years, achieving brand development, which brought huge development space for the company’s production and operation.

　　(2) A complete outdoor industrial operation platform.

　　By developing and selling high-quality outdoor sporting goods, organizing outdoor activities and organizing group construction, and building operators and linkers of parent-child and adolescent comprehensive outdoor quality education business segments, the company builds an outdoor ecological platform with operating users as the core, linking people with outdoor brands, outdoor products, outdoor sports and outdoor education, and realizing customer group transformation among different segments, thus building a complete outdoor industrial operation platform.

　　(3) Outdoor multi-brand and all-category product structure

　　Since its establishment in 1997, the company, as one of the early enterprises engaged in outdoor industry, has been deeply involved in the industry, established a lasting and stable cooperative relationship with hundreds of outdoor brands at home and abroad, understood the core advantages and applicable situations of different brands, different categories and different products, and formed a deep insight and understanding of product characteristics, thus providing professional and personalized product selection suggestions for different consumers in different scenarios and serving the user groups in depth. At present, the company has its own brands such as X- BIONIC, X-SOCKS, SANFO PLUS, ANEMAQEN, SANFO, KIDSANFO, etc. It is the exclusive agent of CRISPI, Houdini, Danner, Mystery Ranch and LA SPORTIVA classic international outdoor brands, and distributes 300+ outdoor famous brands with more than 8,000 SKUs. The product categories cover outdoor sports, daily business and leisure, etc. Some core brands are as follows:

　　(D) Strong R&D capability of its own brand.

　　With more than 20 years’ working experience and in-depth understanding of products and customers, the company has successively established a number of self-owned brands such as ANEMAQEN, SANFO, KIDSANFO, SANFO PLUS, etc., and has the ownership of IP China such as "X-BIONIC" and "X-SOCKS". The design R&D team consists of designers, pattern designers, material developers and other professionals, focusing on the control of key links such as pattern design, process optimization and production quality control. Focus on target market segmentation and diversified product design direction, constantly reform and innovate in fabric selection and functionality, and combine high-quality materials with advanced technology to empower sports and achieve a more comfortable, reassuring and cool brand experience.

　　At present, the company has established in-depth cooperative business relations with international high-quality functional fabric companies including GORE-TEX, Schoeller, Polartec, Pertex, Primaloft, Allied, etc., which has laid a solid foundation for new product R&D, production and supply chain. Since the private brand products have been put into the market, they have gained a good market reputation, and the company’s core competitiveness and gross profit margin will be strongly guaranteed.

　　(E) All-round distribution of sales channels

　　The company has an independent team for expanding stores and a comprehensive evaluation system for opening stores. Combined with historical successful experience and business data, it evaluates and considers the region, consumption power, passenger flow, location, cost, return on investment and other aspects, scientifically calculates and deduces the profit model, selects excellent solutions, and strives to ensure the profitability of physical stores. Through offline channel coverage, online business development, group procurement promotion, event linkage and other means, we will comprehensively broaden sales channels and achieve online and offline coordinated development, which has strong industry influence in the professional outdoor field.

　　(six) professional experience in organizing sports events and league building activities.

　　Sports management subsidiary has been focusing on the promotion and popularization of professional outdoor sports for many years, and has won the title of chinese mountaineering association Demonstration Club and AAA outdoor sports club qualification for many years. It is a member of China Triathlon Association, Marathon Committee of China Athletics Association and International Cross-country Running Association. With the competition as the engine, the company is committed to leading Chinese people to develop a good outdoor sports lifestyle. At present, it has become a professional competition operation organization with large scale and strong technical strength in China, and its business ability is at the leading level in China from organization planning, route survey to guarantee implementation. The types of events cover daily training, entry-level events and long-distance super events, and there are many events with international brand influence such as Sanfu Triathlon and Chongli 168. The company has been fully recognized by members, contestants and outdoor sports enthusiasts in the event, and members have the characteristics of strong stability and high loyalty.

　　The skill training subsidiary focuses on the in-depth development of enterprise group building business and occupies a leading position in the field of outdoor training for enterprises. After more than ten years of industry accumulation, a high-quality coach team composed of many professional senior coaches has been deposited, including many star coaches with national professional qualification certificates, more than ten years of experience and tens of thousands of training experiences. And has established a deep cooperative relationship with many high-quality camp resources with unique outdoor entertainment attributes. After more than ten years of deep cultivation and business expansion, the company’s customer resources have covered more than 20 industries, including the Internet, technology and finance, including dozens of Fortune 500 companies, listed companies and emerging Internet technology companies. High-quality customer resources, long-term strategic cooperation, strong faculty and all-round enterprise services have won a stable market share for the company and continued to drive business growth.

　　(seven) mature parent-child adolescent quality education project operation management system.

　　Shanghai Xile Subsidiary is the main operator of "Squirrel Tribe". After years of exploration and practice in outdoor sports, entertainment and education, it has taken the lead in establishing a standardized operation management process and curriculum research and development system in the industry, and has a strong first-Mover advantage in product design, management concept, safety awareness and daily protection. "Squirrel Tribe" has its own brand IP image, and radiates clothing, picture books, courses and other related fields. By optimizing iterations, it enhances IP influence, systematically exports management service capabilities to the industry through joining, and enhances the radiation radius of IP regions.

　　Eagle Sports Subsidiary owns the brand of "Eagle Safety Education", focusing on youth safety education, integrating diversified contents such as earthquake prevention and disaster reduction, self-care and self-rescue, popular science safety, youth safety education and training, etc. It can simulate various disaster sites to carry out various forms of skills training such as disaster prevention and mitigation, emergency rescue and emergency rescue, and enhance the self-help and self-care ability of young people in emergencies through experiential training. It has profound experience and mature operation mode in the youth safety quality education industry. The outdoor safety base for disaster prevention and reduction in Yingji, Guizhou invested by Yingji Sports, has been awarded many honorary titles by Seismological Bureau of China, governments at all levels and superior units, such as National Popular Science Education Base for Earthquake Prevention and Reduction, Publicity and Education Base for Disaster Prevention and Reduction in Guizhou Province, Publicity Base for Popular Science Education in Guizhou Province, and Training Base for Youth Self-care and Self-help in Guizhou Province.

　　By continuously expanding the quality education program for teenagers, the company has become one of the representative enterprises in the field of outdoor unpowered sports, natural history exploration and safety education.

　　(8) High-quality and stable membership groups

　　The company always adheres to the service tenet of "customer first", pays attention to the construction of customer information system, uses CRM customer relationship management system, integrates online and offline multi-channel resources, and carries out unified membership service and management. Actively cultivate new members, firmly maintain old members, increase value and optimize members’ rights and interests, and improve viscosity and repurchase rate; Establish accurate expansion of user portrait analysis needs; Provide timely and high-quality pre-sale, in-sale and after-sale services, pay attention to satisfaction feedback and follow up to enhance interaction; A loyal and stable membership base will help drive channel traffic and performance growth.

　　(nine) high industry visibility and reputation.

　　The mission of the company is to "encourage and help people to go outdoors, exercise healthily, and fully practice the life concept of harmonious coexistence between man and nature", and always adhere to the business concept of "honest management-guarantee after-sales" to provide consumers with multi-brand and all-category products. At the same time, in order to ensure the quality of service, the company has always adhered to the strategy of opening stores directly, and has established standardized management processes in product selection, store display, customer reception, professional explanation, inventory management, after-sales service, etc., fundamentally ensuring the unity and quality of foreign services. The company pays attention to establishing close cooperative relations with upstream and downstream enterprises and competent departments in the industrial chain, strictly fulfills commercial contracts, abides by business rules and business ethics, and has formed a good reputation and influence in the industry.

　　In recent years, the company has won many awards, including typical enterprises of the Ministry of Commerce, high-tech enterprises in Zhongguancun, AAA-rated enterprises in Beijing, enterprises founded by Beijing Chengxin, demonstration units of Beijing sports industry, members of Beijing Zhongguancun Enterprise Credit Promotion Association, top 100 private enterprises in Beijing, top 100 small and medium-sized private enterprises in Beijing, pioneer of civilized units and workers in Xicheng District, and "100 most influential credit enterprises" in Zhongguancun Credit Cultivation Double Hundred Project. And ISO9001 quality management system certification, ISO14001 environmental management system certification, GB/T28001 occupational health and safety management system certification, etc.

　　

　　IV. Prospects for the future development of the company

　　(A) the industry pattern and development trend

　　1. Policies to support industry development

　　In recent years, the state has issued a series of policies to support the development of outdoor sports industry, fully recognizing the important role of outdoor sports industry in promoting the development of national economy.

　　In March, 2022, the general offices of the General Office of the Central Committee of the CPC and the State Council issued the Opinions on Building a Higher Level Public Service System for National Fitness, which clearly stated that it is necessary to build a multi-level and diversified sports event system, vigorously promote the development of outdoor sports, make a good plan for the development of outdoor sports industry, build a "three verticals and four horizontals" spatial layout of outdoor sports, and launch a pilot project to open natural resources to outdoor sports. The promulgation of the "Opinions" will further promote the substantial expansion of outdoor sports space for Chinese people and the promotion of outdoor sports duration.

　　In July 2022, the General Office of the State Sports General Administration, the General Office of the Ministry of Education and the General Office of the Development and Reform Commission issued the Notice on Improving the After-school Service Level of School Physical Education and Promoting the Healthy Growth of Primary and Secondary School Students, guiding and supporting professional forces such as sports schools and sports clubs to enter the campus to carry out after-school sports services, promoting the implementation of the "double reduction" policy, and promoting the healthy growth of young people through various efforts.

　　In November 2022, the Ministry of Culture and Tourism, the Central Civilization Office, the Development and Reform Commission and other 14 departments jointly issued the Guiding Opinions on Promoting the Healthy and Orderly Development of Camping Tourism and Leisure, proposing to promote the construction of public camps, expand the scale of public camps, improve service quality, encourage and support the standardized construction of operating camps, and improve the quality of camping products.

　　In November 2022, the State Sports General Administration, the Development and Reform Commission and the Ministry of Natural Resources jointly issued the Outdoor Sports Industry Development Plan (2022-2025). According to the Plan, by 2025, the high-quality development of outdoor sports industry will achieve remarkable results, basically forming a development pattern of effective docking of supply and demand, coordinated development of industry and ecology, prominent brand of products and services, and continuous innovation of formats and models. Outdoor sports venues and facilities continue to increase, the popularity is greatly improved, and the number of participants is increasing. The total scale of outdoor sports industry exceeds 3 trillion yuan.

　　In October 2023, the National Development and Reform Commission, the General Administration of Sports, the Ministry of Natural Resources, the Ministry of Water Resources, National Forestry and Grassland Administration and other departments issued the Action Plan for Promoting the Construction and Service Improvement of Outdoor Sports Facilities (2023-2025). The plan aims to meet the people’s growing demand for outdoor sports, improve the construction and service quality of outdoor sports facilities, and promote the high-quality development of outdoor sports industry. According to the plan, by 2025, the outdoor sports facilities in China will continue to increase, the construction of outdoor sports facilities and the supply and demand of service quality will be effectively connected, and the total scale of outdoor sports industry will reach 3 trillion yuan.

　　2. General situation and trend of industry development

　　Outdoor sports industry contains a wide range of connotations. In a narrow sense, outdoor sports refer to leisure activities in natural or semi-natural environments, including camping, outdoor adventure, cycling, mountaineering, skiing, self-driving cross-country and so on. In a broad sense, outdoor sports are more like a lifestyle, with elements of fitness, tourism, sports, entertainment and leisure.

　　According to CCTV financial data, the number of people who regularly participate in physical exercise in China has exceeded 500 million, which fully proves the public’s enthusiasm and pursuit for healthy living and outdoor sports. According to the data of China Sports Daily, by the end of 2021, the number of people participating in outdoor sports in China has exceeded 400 million, and the trend of popularization, age-old and lightweight has emerged. Different kinds of outdoor sports such as mountaineering, rock climbing, hiking, cycling, ice and snow, camping, adventure, water and aviation have emerged in an endless stream, and the activity scenes have gradually extended, which is popular among young people with the characteristics of novelty, fun, low participation threshold and social attributes.

　　According to the "2023 Outdoor Life Trend Report" published by Xiaohongshu, outdoor sports have gradually integrated into people’s daily lives and become a universal lifestyle. From January to October 2023, the daily activities of outdoor users increased by more than 100% month-on-month, showing the strong growth momentum of outdoor sports.

　　Under the influence of the rising participation rate of outdoor activities, the market scale of outdoor products in China is expanding. In 2022, the market scale of outdoor products industry in China is about 197.1 billion yuan, and it is estimated that the market scale of outdoor products industry in China will further grow to 240 billion yuan in 2025.

　　At present, China’s outdoor industry shows a rapid growth trend in many aspects, including the explosive growth of various outdoor activities, the expansion of market scale, the increase of facilities construction, the popularization of education and the maturity of sports events.

　　(II) The company’s future development plan

　　1. Stick to the brand development strategy, focus on brand operation, build organizational structure and team around each brand, and promote the success of each brand operation.

　　At present, the company has laid out its own brand+domestic exclusive agent brand operation business, and the transformation from previous channel operation to brand operation has basically been completed. X-BIONIC, CRISPI, HOUDINI, Klattermusen, DANNER, Mystery Ranch and LA SPORTIVA are all developing rapidly according to the company’s overall strategic plan. In the future, the company will adhere to the brand development strategy, focus on the X-BIONIC brand, build an operational organizational structure around each brand, and carry out brand operation from brand positioning, product research and development, brand marketing, channel construction, membership system and other aspects to enhance the popularity and influence of each brand and increase market share.

　　2. Combining with emerging consumption habits, create a new mode of three-dimensional channel operation.

　　The rise of emerging e-commerce platforms has broken the traditional consumption pattern, and the live push consumption habit has taken shape. The company will combine the emerging consumption habits, radiate omni-channels through short video+live broadcast+social media, continuously improve the awareness and market popularity of all brands, and expand the time and space scope of all brand products. Under the line, we will rapidly expand single-brand stores in high-end shopping malls and business districts, steadily build interesting and experiential multi-brand and multi-category comprehensive stores, and quickly establish a distribution cooperation system; Ski shops are the layout of outdoor sub-industries. The company has opened a number of ski shops mainly selling X-BIONIC products in Beijing, Chongli, Jilin, Tonghua, Xinjiang and Chengdu, and will continue to open ski shops in many high-quality indoor and outdoor ski resorts in the future to continuously expand the market share of X-BIONIC products in the ski circle.

　　3. Build a comprehensive outdoor quality experience education platform for parents and teenagers with mobile internet thinking.

　　The company is committed to building a comprehensive quality education platform for parents and teenagers of all ages, which integrates entertainment experience, sports training, safety education, natural history education and outdoor skills training. With mobile internet thinking, it combines artificial intelligence, virtual technology, digital operation and other technologies to establish an advanced internet outdoor education system, linking interesting quality education games with parent-child paradise and rich professional safety education and research courses. Encourage young people to strengthen their bodies in nature, explore themselves, discover the world, enhance their leadership, master survival skills and safety knowledge, and comprehensively help parents and young people grow up healthily.

　　(3) The company’s business plan

　　In 2024, the theme of the company’s operation is brand operation, and the company’s organizational structure is greatly adjusted around brand operation, and various brand operation divisions and core operation teams are established. X-BIONIC, CRISPI, HOUDINI, KLattermusen, DANNER, Mystery Ranch and LA SPORTIVA realize the diversification of sales channels through the combination of offline, online and live broadcast, the combination of self-operated wholesale channels and the combination of single-brand stores and multi-product stores, and continuously expand the product strength, brand strength and channel strength of each brand, so as to enhance the company’s comprehensive competitiveness and continuously promote business development.

　　1. Complete the organizational structure adjustment of each brand operation, and each brand can operate independently.

　　2. Focus on functional textile frontier technologies such as technological material innovation and process innovation, strengthen the construction of product design and development team, and constantly explore, so as to continuously inject the vitality of technological innovation into the future development of X-BIONIC brand.

　　3. On the basis of successful product planning, X-Bionic continues to iteratively improve and optimize products. Focus on continuous investment in professional outdoor and functional business series, especially for key categories such as close-fitting layer, soft shell, hard shell and functional trousers, and vigorously develop and promote them.

　　4. Sponsor Zhang Shupeng, the first Asian winged fighter and paraglider world champion, to challenge the extreme sports of flying over Mount Everest; Named the 25th Sanfu International Triathlon, sponsored cheung kong graduate school of business, China Europe International Business School and other famous business schools to participate in the 19th Xuanzang Road Gobi Challenge; Set up X-BIONIC cross-country running team to participate in major cross-country running events around the world; In-depth cooperation with stars who love outdoor sports, create high-quality video content communication brands, and expand the brand power of X-BIONIC.

　　5. Continue to increase investment in live broadcast platform, introduce AI technology and virtual reality technology, etc., to enhance users’ online shopping experience.

　　6. Open about 10 X-BIONIC single-brand stores, 2-3 HOUDINI single-brand stores, 1-2 CRISPI single-brand stores and 1-2 multi-brand and multi-category Sanfu comprehensive stores.

　　7. Expand the distribution channels of brands, increase the market exposure of brands, and expand the market influence of brands.

　　8. Create an online outdoor comprehensive quality education platform on the Internet. Through creative outdoor activities, interesting game forms and systematic reward mechanism, encourage and help young people to keep fit in nature, explore themselves, discover the world, enhance their leadership, master survival skills and safety common sense. Through online and offline linkage, the company’s nature park will be built into a leading demonstration camp of comprehensive outdoor education system, providing one-stop solutions for physical fitness training, natural history exploration, survival skills and safety science training.

　　(4) Possible risks

　　1. Consumer market volatility risk

　　At present, the domestic outdoor products consumption market is generally improving, but affected by the overall consumption environment, the uncertainty of the consumer market may have an adverse impact on the company’s operation.

　　Countermeasures: Carry out all work around the annual business plan, promote omni-channel integrated development, control costs, control investment in non-main business areas, and minimize the impact of market environment fluctuations.

　　2. The risk that the company’s operation falls short of expectations

　　In 2024, the company will rebuild its organizational structure and team around the brand operation, which will bring a transitional period, and there is a risk that the operation will be less than expected.

　　Countermeasures: stick to the brand operation theme focusing on X-BIONIC brand, focus on resources, continuously improve products, channels, markets and users, and strive to achieve the success of X-BIONIC brand and the overall brand operation of the company.