On January 5th, the market opened lower and went lower all day. The Growth Enterprise Market Index hit a new low, the Science and Technology Innovation 50 Index hit a record low, and the Beizheng 50 Index fell more than 4%. As of the close of the day, the Shanghai Composite Index fell 0.85%, the Shenzhen Component Index fell 1.07%, and the Growth Enterprise Market Index fell 1.45%.

Today, stocks showed a general decline pattern. Over 4,700 stocks in the whole market fell, and only over 500 stocks rose. The turnover of Shanghai and Shenzhen stock markets was 736.3 billion yuan, 62.9 billion yuan more than the previous trading day. Northbound funds bought 1.992 billion yuan in the whole day, of which Shanghai Stock Connect bought 1.564 billion yuan and Shenzhen Stock Connect bought 428 million yuan.

Regarding the reasons for the decline, respondents believe that from the external point of view, the funds are still tight, and the RMB exchange rate has weakened again after the New Year, and the growth stocks that are highly sensitive to the funds have fallen. Internally, the economic data in December last year was still not ideal. Investors’ expectations for the New Year’s market faded as some indexes such as Kechuang 50 hit new lows, and the atmosphere of market panic also rose further.

The Shanghai Composite Index fell nearly 1%

Today, A shares continued their weak trend, and the market plunged again. As of the close of the day, the Shanghai Composite Index fell 0.85%, the Shenzhen Component Index fell 1.07%, and the Growth Enterprise Market Index fell 1.45%.

Judging from Shenwan’s first-class industry index, only banks and household appliances closed up.

Among them, the banking sector led the gains by 1.07%, with 38 stocks in the sector closing up and only 4 stocks closing down. Specifically, Ruifeng Bank rose 9.64%, approaching the daily limit. Suzhou Bank rose more than 6%, while CITIC Bank and Hangzhou Bank rose more than 3%.

The household appliances sector rose slightly by 0.98% as a whole, with 25 stocks in the sector closing up and 60 stocks closing down. Rewei shares and ASD closed the 10CM daily limit, Sichuan Jiuzhou and ST Tongzhou rose more than 5%, and Bear Electric, Aucma and Gree Electric rose more than 3%.

In terms of decline, the national defense industry led the decline with a decline of 3.13%, and the sectors such as communications, media, medicine and biology were among the top losers, all falling by more than 2%. In addition, comprehensive, computer, social services, electronics, mechanical equipment and other sectors followed.

Why did it fall?

"In the first four trading days of this year, A shares suffered from’ opening the door black’." Xia Fengguang, manager of Rongzhi Investment Fund, told reporters that it has fallen for four consecutive trading days and the decline is still accelerating. From the perspective of the structure of market operation, growth stocks and small-cap stocks are among the top losers, and the once-active North Securities Index has also begun to fall. Relatively strong banking stocks only played a temporary role in pulling up the index, which not only did not change the operating trend of the market, but also diverted the originally limited funds.

Regarding the reasons for the decline, Xia Fengguang believes that from the external point of view, the funds are still tight, and the RMB exchange rate has weakened again after the New Year, and the growth stocks that are highly sensitive to the funds have fallen. Internally, the economic data in December last year was still not ideal. Investors’ expectations for the New Year’s market faded as some indexes such as Kechuang 50 hit new lows, and the atmosphere of market panic also rose further.

"In the first week of 2024, A-shares did not usher in the expected opening market. But overall, the current market is in a relatively mild internal and external market environment, which is conducive to opening a window for A-shares to repair the market. " Zhang Xiaodong, manager of Gecko Capital Fund, pointed out that there are two main reasons for the weak market confidence: on the one hand, economic growth shows a slow recovery trend, and there is no acceleration; On the other hand, the current A-share market is adjusting downward, and traders’ confidence is insufficient.

"After the New Year’s Day in 2024, A shares continued to plummet and adjust. In essence, this is because of the shortage of funds and liquidity problems." For example, Huang Huayan, general manager of Avenue Xingye Investment, said that if funds fled from technology stocks and entered the tourism sector recently, Changbai Mountain had four consecutive daily limit. In addition, weak consumption expectations continue to affect the rebound space of liquor, medicine, medical beauty, tax exemption and other sectors.

According to Hao Xinming, the manager of Fangxin Wealth Investment Fund, the main reason for the weak market is that the unfavorable microeconomic environment can’t give enough support to the bulls in their pessimistic expectations of macro data.

Xingshi Investment believes that the current lack of market confidence is still the main constraint. When the bottom stock game is superimposed, the stock market’s response to good information is relatively dull, but it is highly sensitive to potential risks. Specifically, the main factors affecting this week’s market are three aspects: first, the manufacturing boom declined in December 2023, and the expansion of the construction industry accelerated; Second, PSL (Mortgage Supplementary Loan) was restarted, but the market response was dull; Third, the market’s expectation of the Fed’s interest rate cut has dropped, and the interest rate of US bonds has risen slightly.

Waiting for the market sentiment to return

"At present, A shares are in a downward trend, and the rebound confrontation before the holiday failed as the index adjusted to a new low." Hao Xinming told reporters that the market outlook may continue to decline until the transaction volume shrinks to a lower level and maintains a weekly or even more time period. Wait until the short-selling power is released before a large-scale rebound can be ushered in.

On the whole, Hao Xinming believes that this year’s market is probably still the trend of bottoming out, and the possibility of exploring new lows is not ruled out, but it is also a year of excessive turning point that breeds bull market, and it needs to have enough confidence to make layout.

"As has been repeatedly suggested recently, the market may be at the end of a bear market. On the one hand, investors need to strengthen their confidence in holding shares, on the other hand, they need to avoid the extreme distortion of emotions. When the emotional-driven plunge appears, it may often be when the market bottoms out in the short term." Analysis of summer scenery.

Looking forward to the new year, Zhang Xiaodong believes that the market will continue to wait for positive signals due to the recent downward trend of overseas interest rates, the restoration of global risk appetite, and the easing of domestic policies and liquidity. But in the long run, the worst may be over. "Regarding whether the Shanghai Composite Index will fall below 2,900 points, we believe that investors should pay more attention to the imagination of industries and individual stocks under such valuation".

Regarding the question of where the "market bottom" is, Huang Huayan believes that it is expected that there will not be much room for the Shanghai stock index to fall in 2024, and the introduction of the financial stability guarantee fund as soon as possible will make the index fall and lack room for display.

Furong Fund believes that from the structural point of view, the economy is still in the stage of bottoming out, and it is difficult to make directional changes in the short term. At present, it is in the vacuum period of performance at the beginning of the year. From the perspective of stock selection, the flexibility and growth of performance in the next one to two years will be more important than the current static performance. It is suggested to be more optimistic about the sectors where the valuation end can be improved, such as the science and technology sectors that are less related to macroeconomics and are currently in the wave of AI innovation, and the power equipment industry chain with a clear valuation bottom.

Paipai Fortune said that this week is the first trading week in 2024, and the market failed to continue the rise at the end of last year and adjusted back again. The Shanghai Composite Index is relatively resilient, and the Shenzhen Component Index and the Growth Enterprise Market Index have returned to the bottom of last week. In the short term, it is expected that the Shanghai Composite Index will return to the bottom of last week next week to test the previous bottom support. At present, the market is once again at a low level. As the negative impact of institutional position adjustment clears, a new round of market will gradually brew, waiting for the market sentiment to return.

Reporter: Lu Yiwen Editor: Chen Xi

Editor in charge: Bi Dandan

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eπ008车身尺寸为5002*1972*1732mm，轴距为3025mm，宽大的车身和宽敞的内部空间为乘客提供了舒适的驾乘体验。前轮距和后轮距均为1650mm，确保了车辆的稳定性和操控性。车侧线条流畅动感，搭配265/45 R21规格的轮胎和独特的轮圈设计，进一步提升了车辆的运动感和视觉效果。

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Recently, the 2023 Xingtu Lanyue was officially launched. The high-end dream of Chery Automobile was once again mentioned. Xingtu was officially released on November 9, 2018, which is Chery’s third attempt to attack the high-end market. Previously, Chery had planned Ruilin and Qoros, and now, Xingtu has become the only seedling of Chery’s impact on the high-end market. Chery, which hopes to complete the brand’s high-end, invested in the flagship model of Xingtu Lanyue in the mid-to-large SUV segment. Unfortunately, the car has been tepid after its launch and failed to meet Chery’s expectations.

In recent years, the sales of Xingtu cars have not been ideal. In 2022, the sales of Xingtu cars were 51,142. According to the data of new traffic compulsory insurance, the cumulative sales of Xingtu cars in 2022 were 24,015. No matter which data, they are far behind their opponents.

Xingtu expects monthly sales to exceed 10,000 yuan in the second quarter. Can the launch of the new generation of Xingtu Lanyue "add bricks and mortar" to Xingtu’s sales? To rewrite the experience that the previous generation model was not a success, the sales difficulty of the new generation of Xingtu Lanyue can be imagined. Moreover, as a facelifted model, the body of the new generation of Xingtu Lanyue has not been greatly improved, but the price has increased.

Overall, Xingtu did not have more innovations and breakthroughs, and its appearance and power did not have its own distinctive characteristics. The gearbox has always had shortcomings, and the failure of Xingtu’s car has also been criticized by car owners. The positioning is vague, and it lacks its own brand label. It is just an updated product in the style of "squeezing toothpaste". Whether Xingtu can reach "high" remains to be tested by the market.

　　CCTV News:

　　[Key words] Snowy plateau, changed the world

　　According to CCTV-1 "Focus Interview" report: 2019 marks 60 years of democratic reform in Tibet. On March 27, the State Council Information Office released the white paper "Great Leap: 60 Years of Democratic Reform in Tibet", which reviewed the history of the complete abolition of feudal serfdom in Tibet with a large number of facts and data from ten aspects such as "the irresistible historical trend" and "the complete abolition of feudal serfdom". It expounds the irresistible historical trend of democratic reform and the economic and social development of Tibet in the new era.

　　Zhang Yun, director of the Institute of History at the China Tibetan Studies Center, said: "The democratic reform is a very great event in the history of Tibet. It dissolves the theocratic government that has existed for more than 200 years, and allows millions of serfs to gain personal freedom, turn over and emancipate, and own their own property for the first time." "In just 60 years, it has spanned thousands of years." Democratic reform in Tibet is a "watershed" for old and new Tibet, a milestone in the history of human rights in the world, and has opened up a glorious journey from barbarism to civilization, from dictatorship to democracy, and from backwardness to progress in Tibet. Entering today’s Tibet, the snow-capped mountains remain the same, but the world has changed. Great changes have taken place not only in infrastructure buildings, but also in the little bits and pieces of people’s From lack of food and clothing to worry-free food and clothing, from people and animals living together to clean windows, from illness without medical treatment to treating diseases and prolonging life, Tibet has entered a new era of economic and social development and long-term stability, and the lives of ordinary people have also become more prosperous. The ancient snowy plateau is emitting unprecedented vitality and vitality.

　　[Key words] Civil servant salary increase and promotion

　　According to CCTV-13 "News 1 + 1" report: In our country, civil servants are a large number of groups, how many? More than 7.2 million civil servants. Among this group, 60% work in organs below the county level, and from the day they become a civil servant, they have entered a rising channel, because no one wants to be an ordinary civil servant all their lives, always wanting to go up. Recently, the General Office of the Central Committee of the Communist Party of China issued the "Regulations on the Parallel Positions and Ranks of Civil Servants", which will affect the promotion and salary increase of millions of civil servants. A major highlight of this regulation is the reform of the method of setting up civil servants’ positions, and the establishment of a new rank sequence, so that civil servants can be promoted through leadership positions or ranks.

　　The hierarchy of the leadership of civil servants in our country is composed of a pyramid. If you want to go from the bottom to the top, the more you go up, the more fierce the competition will be, because there are fewer positions. But for most civil servants who cannot be officials, how to solve the enthusiasm of treatment and incentive work, there must be an incentive mechanism. The "Regulations on Concurrent Positions and Ranks of Civil Servants" released this time breaks the ceiling for the promotion of grassroots cadres, and solves the worries of cadres taking root at the grassroots level. Give civil servants who really do things an incentive to see where the future space is and where the future channel is, so that they can really serve the people.

　　Key words: planning science

　　According to CCTV-13 "Chaowen Tianxia" report: As a famous historical and cultural city, Beijing’s urban and rural planning has attracted much attention. On March 29, the revised "Regulations on Urban and Rural Planning of Beijing Municipality" was passed by the Standing Committee of the Beijing Municipal People’s Congress and officially implemented on April 28. The regulations clearly state that it is necessary to strictly abide by the upper limit of the total population, the ecological control line, etc., and the construction project planning license will be issued within 7 days. The regulations clearly state that Beijing’s future urban and rural planning and construction should take the resources and environmental carrying capacity as a rigid constraint, strictly abide by the upper limit of the total population, the ecological control line, and the boundary of urban development, and delineate areas for centralized construction, restricted construction, and ecological control, so as to realize global

　　Is urban and rural planning scientific? The regulations propose the establishment of a normalized physical examination and evaluation mechanism. A physical examination is required once a year, a comprehensive evaluation is conducted every five years, and public opinions are solicited through demonstrations, hearings, etc., to form a physical examination and evaluation report, and timely amendments are made to the implementation of the plan. Whether it is a physical examination once a year, a five-year evaluation, or the promotion of rapid investigation and punishment of illegal construction, well-planned, twice the result with half the effort, for the benefit of future generations. Urban and rural areas are places where people live. Before planning, listen to the voices of the common people more, and leave more green space and space during construction, so that residents can see the mountains, see the water, and remember their homesickness. This will not only make urban and rural areas more livable, but also form a model effect and provide reference for other

　　[Key words] car "hydrogen" loaded into battle

　　According to CCTV-2 "Economic Half Hour" report: In the past 20 years, hydrogen energy has ushered in a round of rapid development around the world. Hydrogen is non-toxic and harmless, and the reactants are green and clean. It is known as the ultimate energy in the 21st century. Because hydrogen can replace traditional petrochemical resources such as oil and coal, it has been favored by more and more countries. At present, the application of hydrogen energy in China is mainly in the field of hydrogen fuel cell vehicles, and the development of related industries is even more rapid. Up to now, hydrogen fuel cell commercial vehicles have been mass-produced, but hydrogen fuel passenger vehicles are still in the demonstration operation stage.

　　Hydrogen energy was written into the government work report for the first time this year, and the 2019 government work report specifically mentioned the content of promoting the construction of charging, hydrogen refueling and other facilities, which is bound to accelerate the development of the hydrogen energy industry. The appearance of hydrogen fuel cell vehicles not only caters to the current concept of energy conservation and low carbon in society, but also integrates ultimate environmental protection with a number of black technologies. Innovative technology and innovative products are the real driving force for economic development, and are also the foundation for human society to continuously achieve self-breakthrough. More than 100 years since the birth of the automobile, from gasoline, to natural gas, to lithium batteries, and now hydrogen fuel, the direction of human technology is moving towards more energy conservation and environmental protection. Although hydrogen energy vehicles in our country are still in their infancy, it is already one of the irreversible trends that fossil energy is replaced by clean, environmentally friendly and efficient new energy. Any new technology needs a lot of social upfront investment from development to maturity. The future of hydrogen energy vehicles is worth looking forward to under the promotion of market environment, the development of the times and national policies.

　　[Key words] "Exit is dirty"

　　According to CCTV-2 "First Time" report: Recently, the composition of a fifth-grade primary school student in Hangzhou caused a heated media discussion. The author of the article talked about an uncivilized phenomenon that occurred in his class, and more and more classmates spoke dirty words. The head teacher took great pains to find a lot of ways to curb this phenomenon and competed with the students. The reporter’s investigation found that it is a relatively common phenomenon for primary school students to speak dirty words. Generally, the third grade will show signs. If it is not stopped in time, it may even break out in the class during the five or six-year vacation.

　　According to psychological experts, children swear for different reasons, some are to attract attention, some are to vent their inner dissatisfaction, and some are to imitate the limelight. It is not effective to use simple and rude methods to suppress children’s swearing. Swearing at the primary school level is a sign, and as a teacher, we must find ways to guide and educate children not to swear. Similarly, family education cannot be missing in this regard. Parents should lead by example in front of their children, speak civilized language, and must not swear at will. No one wants to see a child full of swearing, as long as the education method is properly trained to speak civilized and polite children, it is not so difficult. Children are a piece of white paper. In the process of school and constant contact with society, the white paper is dyed. No child is born to swear. To cure such a problem requires the joint efforts of parents, teachers and society. (Responsible Editor/Yang Shujie)

On May 20, Wanda Group’s official website released an official statement: The news of Wanda’s large-scale layoffs on the Internet is untrue.

Although the rumors have been cleared up, Wanda’s lack of money and its status as an old man have once again attracted attention from the outside world.

On April 13 this year, Wanda Real Estate underwent an industrial and commercial change, and the legal representative was changed from Zhang Lin to Huang Guobin.

According to the China Execution Information Open Network, on April 20, Wanda Real Estate was twice listed by the court as a dishonest person to be executed, and was forced to execute 841 million yuan and 246 million yuan respectively, totaling 1.087 billion yuan.

On April 4 this year, due to the application of the applicant China Fuxing Co., Ltd., the court officially filed a case, mainly because Wanda Real Estate failed to perform the payment obligations determined by the effective legal documents within the period specified in the notice in the domestic arbitration award case. Subsequently, Wanda Real Estate, Heyuan Fuxin Construction Co., Ltd., and Heyuan Yuhai Real Estate Development Co., Ltd. became the executors.

On April 20, the above-mentioned three companies became dishonest and were restricted from high consumption. The specific circumstances were all "having the ability to perform and refusing to perform the obligations confirmed by effective legal documents."

In addition to the three companies, Zhang Lin, the original legal representative of Wanda Real Estate, was also restricted from high consumption, that is, when taking transportation, he could not choose aircraft, train soft sleeper, steamer second class or above, and could not make high consumption in hotels, hotels, nightclubs, golf courses and other places above the star rating.

According to the data, Zhang Lin is a "veteran" of Wanda Group. He joined Wanda Group in March 2000 and has served as the president of Wanda Culture Group, the vice president of Wanda Group, and the CFO of Wanda Group. He also served as the director and general manager of Wanda Real Estate.

In June 2022, Zhang Lin served as the chairperson of Wanda Real Estate. In April 2023, Wanda Real Estate underwent industrial and commercial changes, and the legal representative was changed from Zhang Lin to Huang Guobin.

According to the Tianyancha APP information, Wanda Real Estate has become "Lao Lai" this time, and the real estate project planted in Heyuan, Guangdong has been sued by its former partners.

In addition to Wanda Real Estate, which was listed as the person subject to execution by the court, there were also Heyuan Yuhai Real Estate Development Co., Ltd. and Heyuan Fuxin Construction Co., Ltd. Among them, Heyuan Yuhai Real Estate Development Co., Ltd. was a 100% owned subsidiary of Wanda Real Estate, while Heyuan Fuxin Construction Co., Ltd. was Heyuan Yuhai Real Estate Development Co., Ltd. and Zhonghua Fuxing Co., Ltd. held 90% and 10% respectively. This time, Wanda Real Estate was sued by Zhonghua Fuxing Co., Ltd.

On May 16, some media publicly reported that Wanda Group was negotiating with domestic banks to try to extend the maturity of some project loans of Wanda Real Estate. It currently wants to postpone the repayment of the principal of the loan due this year, but the interest payment is not postponed and is still willing to pay the interest.

The situation of delayed loan repayment reflects the debt pressure Wanda is currently facing. DM check debt pass data shows that only one domestic bond, Wanda Group and the same actual controller to be repaid during the year will reach 4.163 billion yuan, and the interest to be repaid is about 714 million yuan.

Jing Shi Law Firm lawyer Zhai Yalong believes that the extension of the principal, but the repayment of interest belongs to the loan extension, generally refers to the borrower’s cash flow problems, can not repay the loan principal on time, can not perform the loan contract, which is a breach of contract; there are also some loan extensions that change the loan period after negotiation between the two parties before the loan expires, and other conditions remain unchanged. This is a normal business conduct, not a breach of contract.

According to previous reports, recently, Wanda Group and some major creditor banks of the Industrial and Commercial Bank of China and other groups began to discuss the renewal of loans without repayment, but it is only an initial negotiation, and no specific plan has been formed yet.

A person familiar with the bank’s credit business said that just "deferring the principal but repaying the interest" itself is a change in the loan contract, and it is very difficult to obtain the consent of the bank in practice. But if it is "renewal of loans without repayment of principal", this practice is still more common in practice.

He explained that "renewal of loans without principal repayment" usually applies to loan customers applying to the bank for renewal of loans before the loan expires, and the bank conducts loan investigation and review according to the requirements of new loans in advance. If the bank agrees to renew the loan, it will sign a new loan contract with the loan customer before the original loan expires, and settle the original loan through new loans, allowing the customer to continue to use the loan funds. In form, it is equivalent to "deferring the repayment of the principal but repaying the interest."

A person from the Financial Institutions Group with a background in central enterprises said that the bank is definitely unwilling to agree to the request for a loan extension, but there is no way. If it does not agree, it will definitely lead the situation to a more unfavorable situation for itself. But for companies that have done this, even if the loan is successfully postponed, its credit will be reduced, which will affect its subsequent issuance of bonds.

"We have encountered a similar situation before. Some developers have delayed loan repayment. Although the deadline for loan repayment has not yet been reached, for the sake of safety, within our company, this behavior has been regarded as a material breach of contract and losses have been included in the statement," he said.

Ren Xianqi retired with injury

　　　 Ren Xianqi represented the Bayi Iron and Steel Team earlier, and Xiao Qi, the captain, drove a large motorcycle to compete in the Mainland Tower Rally. On September 11, the race went to the fourth stage, which was known as the "Devil Stage" in the area of Xinjun Qiemo County. Xiao Qi was injured in an accident about 7 kilometers after the start of the race, and was later transferred to a local hospital for diagnosis. It was confirmed that the fifth rib in his left chest was injured.

　　　 The doctor suggested that Ren Xianqi withdraw from the competition, and Xiao Qi had no choice but to accept it, but Xiao Qi insisted on staying with the team until the end of the competition. He said: "Although I really want to continue the competition, and my injury will not affect my daily life, but the doctor said that the intensity of the competition is too high, so I am not allowed to continue. I really feel sorry."

　　　 Ren Xianqi, who is known to have injured his left rib as early as the third stage, said: "As soon as I fell, the motorcycle held up near the left rib, which happened to be unprotected by armor. After the race started today, I felt pain when I was a little faster. When I encountered the uneven ground, I even felt unable to breathe. After falling, I felt very painful when I got up from the cup, and I had no energy at all."

　　At the time of the incident, many other competitors who had caught up stopped to greet him, which touched Ren Xianqi very much. He said: "They will not look at me differently because I am a star, but just treat me as a brother who competed together." Because of this, Xiao Qi decided to continue with the team until the end of the race. As a standard car fan, he said: "Even if you don’t participate in the race in the future, you can come and watch, or you can be the team leader."

　　　 The rally has completed three stages. Except for the cancellation of the second stage, Ren Xianqi ranked 11th and 15th in the first and third stages, respectively. There are 55 motorcyclists participating in the event. The rally will span five cities and compete in seven stages. It will take 9 days, cover a distance of about 4,500 kilometers, and cross the Taklamakan Desert, passing through Shanshan, Korla, Qiemo, Yutian and other places. The race attracted many racing experts to compete on the same field, and eventually a total of 250 drivers participated.

On April 7th, Jackie Chan’s 70th birthday, I wrote with emotion: "April 7th has not yet arrived, and many friends are already reminding me, big brother, it will be your 70th birthday soon! Every time I hear this number, I am still surprised for a second, am I already seventy years old?", "It is a lucky thing to be old. Especially those of us who make action movies know how rare this luck is." And sent out many precious old photos.

The full text is as follows:

My dearest movie fans around the world:

April 7th has not yet arrived, and many friends are already reminding me, big brother, it will be your 70th birthday soon!

Every time I hear this number, I am still surprised for a second, am I already seventy years old? After being surprised, my second thought is what my eldest brother Hung Jinbao said: It is a lucky thing to be old. Especially those of us who make action movies know how rare this luck is.

Some time ago, many friends saw the photos on the Internet and came to care about my physical condition. I would like to reassure everyone that this is the movie I am currently shooting, and it requires the look of white hair and white beard. Over the years, as long as the plot requires it, whether it is a thrilling action scene or a different look, I am willing to try it. Sixty-two years into the industry, I am still making movies today, which is worth cherishing.

Recently, when my colleagues were organizing the company’s database, they dug out a lot of previous photos, and they selected some for me to accompany this Weibo. Looking at these photos, I have a lot of emotions in my heart. If I want to combine these emotions into one sentence: I love movies, I love you.

Once again, thank you all for your birthday wishes. I hope everyone is healthy and happy!

　　The environment of a takeaway restaurant

　　The store with no information on the wall but still "overtime"

　　Grease buildup on the ground at the farmers’ market

　　The safety and hygiene of takeaway food has always attracted much attention. Recently, some readers reported to the Yangzi Evening News/Ziniu News reporter that there are many takeaway shops on the third floor of the Meiqi Farmers Market in Yangzhou City, which are often open until late at night. The environment in the store is messy, and the hygiene of processed food cannot be guaranteed. I hope to attract attention.

　　Cheng Mo, Yangzi Evening News/Ziniu News reporter

　　A dozen takeaway shops are crowded on the first floor, and the ground is thick with grease

　　The reporter went to Meiqi Farmers’ Market on Wangyue Road in Yangzhou City. At first glance, the farmers’ market was no different from other markets, but a closer look revealed that from the second floor, several large chimneys used to expel oil fumes led to the roof. When the reporter went to the third floor of the farmers’ market, what he saw was the thick grease on the ground, which had turned black. Along the narrow corridor, there were about a dozen takeaway shops on both sides. Before the dinner rush hour, there were many takeaway brothers waiting for meals in the aisle, and the waste and food raw materials piled up by each household at the door made the originally not spacious aisle even more cramped. The busy "chefs" in the store had no time to greet the delivery brother at all, and they were all "working hard", and an aunt was sitting on the ground dealing with "lobster tails". Following the corridor, the reporter walked through the third floor of the entire farmers’ market. Except for not hanging the "business license" and "food business license" in an obvious position, these takeaway stores did not have the possibility of dine-in food at all, and there was no possibility of sorting, processing, and storing raw materials.

　　The complainant, Ms. Wang (surname changed), told reporters that this situation has been going on for a long time, and basically no one has come to check or review. Ms. Wang also said that there are also a large number of takeaway shops in an old office building not far from Meiqi Farmers Market.

　　That night, the reporter went to what Ms. Wang called the "office building" – the "Guanghua Star Metropolis" at the intersection of Wangyue Road and Baixiang Road in Yangzhou City. The reporter followed a takeaway brother into the building. The escalator has long been defunct, and the building is dilapidated. Before reaching the second floor, a strong stench has already hit the nose. At 2 am, the second floor is still brightly lit. There are also seven or eight takeaway shops of all sizes here, most of which are still open. In addition to the dirty environment, the reporter found the source of the stench – the toilet in the center of the floor, the smell of the whole floor makes people "go up". The takeaway shops around this toilet are still seriously operating "gourmet food". The reporter opened the takeaway platform and found that there were 2,000 + monthly orders for "× × Stinky Tofu" directly opposite the toilet.

　　The platform has strict entry regulations, but the actual implementation is useless

　　After visiting two takeaway "gathering points" on the spot, the reporter opened a takeaway platform to find information and transactions of these merchants. The reporter found that the sales volume of these merchants, the lowest is 400 +, while the high is 2000 +, and the per capita consumption of stores ranges from 19-69 yuan. The reporter found that such takeaway merchants do not have in-store pictures on the platform, only "business licenses" and "food business licenses" for inquiry.

　　The reporter logged on to the official website of the platform’s "Takeaway Rules Center" to inquire about the relevant information of merchants entering the platform. The above clearly stated that in addition to the qualification of catering subjects, merchants entering the platform also need to provide a clear picture of the door, environment and kitchen. At the same time, the takeaway platform should also conduct random inspections of the merchants entering the platform. The takeaway stores visited by the reporter obviously did not meet the above-mentioned takeaway entry rules. In this regard, the reporter contacted the official customer service of the takeaway platform many times, and the customer service replied that the problems reported had been recorded and were waiting for follow-up processing.

　　At the same time, the reporter also contacted the market supervision bureau of Hanjiang District, Yangzhou City. The staff said that the access of takeaway platform merchants is the independent behavior of the platform, and the market supervision department has no power to intervene. For the takeaway shops in Meiqi Farmers Market complained by readers, the staff said that they complied with relevant regulations when applying for licenses, but the farmers market neglected to manage the later business activities, and they will increase supervision.

　　For the stores in the office building of Guanghua Star Metropolis, the staff said that the business license of the registration point in the office building has been suspended and will be gradually standardized later.

An outdated former brother, an aggressive new stock god

On the evening of April 19th, Guoxuan Hi-Tech (002074.SZ) disclosed the 2023 annual report and the first quarterly report of 2024 simultaneously.

According to the financial report data, in 2023, Guoxuan Hi-Tech achieved an operating income of 31.605 billion yuan, a year-on-year increase of 37.11%; Realized a net profit of 938 million yuan, a year-on-year increase of 201.28%; Realized a net profit of 116 million yuan, a year-on-year increase of 122.56%.

"The company’s annual product delivery exceeded 40GWh, a year-on-year increase of more than 40%. In the situation of continuous decline in battery prices, sales revenue including tax increased by more than 50% year-on-year, and revenue from overseas business and energy storage business doubled. " Guoxuan Hi-Tech explained the reasons for the increase in performance in its annual report.

From the perspective of business segmentation, power battery system and energy storage battery system are the main pillars of Guoxuan Hi-Tech’s performance. The former accounted for 72.93% of revenue in 2023, while the latter accounted for 21.93%. Compared with 2022, the energy storage battery system only accounts for 15.22% of the revenue in that year, while the power battery system accounts for 80.18%.

Times Weekly reporter noted that the gross profit margin of Guoxuan Hi-Tech energy storage battery system was 18.29%, an increase of 9.78% over the same period of last year; The gross profit margin of power battery system was 15.04%, a decrease of 10.12% compared with the same period of last year.

The demand growth of energy storage industry has promoted the development of energy storage business of Guoxuan Hi-Tech.

According to the preliminary statistics of GGII (High-Tech Industry Research Institute), in 2023, the global energy storage lithium batteries shipped 225GWh, up 50% year-on-year, of which China shipped 206GWh, up 58% year-on-year. According to GGII forecast, the global energy storage battery shipments will approach 700GWH by 2025 and exceed 2TWH by 2030.

Thanks to the high prosperity of the energy storage track, lithium battery companies such as Contemporary Amperex Technology Co., Limited and Yiwei Lithium Energy, which have recently disclosed their performance, have performed well in the energy storage business, which also shows that the energy storage market has not yet been the final leader, and Guoxuan Hi-Tech may have the opportunity to overtake on this track.

Guoxuan Hi-Tech was once the first power battery company to be listed on the A-share market.

Guoxuan Hi-Tech, established in 2006, was listed on the backdoor of Dongyuan Electric in 2015. It was once a veritable "Power Battery Brother" in China. 2006 was the first year of industrialization in Ferrous lithium phosphate, and Guoxuan Hi-Tech production line was officially put into operation in 2007. In 2009, when the tuyere of Ferrous lithium phosphate was opened, Guoxuan Hi-Tech completed the assembly of 30 bus battery modules that year. In 2012, Guoxuan Hi-Tech took the first place in the output value of power batteries and became the leading power battery in China at that time.

However, with the development of new energy vehicles, in 2016, ternary battery overwhelmed Ferrous lithium phosphate, and Contemporary Amperex Technology Co., Limited, who made a big bet on ternary battery, was born, while Guoxuan Hi-Tech, which has been laid out in Ferrous lithium phosphate for many years, was unable to hold the position of "the first brother" and had to surrender.

In terms of performance, in 2017, 2018 and 2019, Guoxuan Hi-Tech deducted non-homecoming net profit for three consecutive years, and fell into a loss in 2019.

According to the financial report data, from 2017 to 2022, Guoxuan Hi-Tech realized net profit of 529 million yuan, 191 million yuan,-345 million yuan,-236 million yuan,-342 million yuan and-515 million yuan respectively. Until 2023, Guoxuan Hi-Tech turned losses into profits after deducting the non-homecoming net profit, and realized a profit of 116 million yuan.

According to the data of China Automobile Power Battery Industry Alliance, in 2023, the installed capacity of the company’s power battery was 15.91GWh, up by 19.35% year-on-year, with a market share of 4.10%. Among them, the installed capacity of Sanyuan power battery is 1.20GWh, accounting for 0.95% of the market, and the installed capacity of Ferrous lithium phosphate power battery is 14.71GWh, accounting for 5.64% of the market.

According to SNE Research data, the global power battery loading capacity of Guoxuan Hi-Tech in 2023 was 17.1GWh, ranking eighth in the world, which is far from the global power battery loading capacity of the seventh Samsung SDI 32.6GWh. In the global market, Guoxuan Hi-Tech has a market share of 2.4% in 2023, which lags behind Samsung SDI(4.6%) and is far from the leading Contemporary Amperex Technology Co., Limited (36.8%).

Although Guoxuan Hi-Tech realized a real turnaround in 2023, the performance in the first quarter of 2024 did not satisfy investors.

According to the first quarterly report in 2024, Guoxuan Hi-Tech achieved an operating income of 7.508 billion yuan, a slight increase of 4.61% year-on-year; Realized a net profit of 69.1379 million yuan, a year-on-year decrease of 8.56%; Realized a net profit of 10,603,400 yuan, a year-on-year increase of 195.26%.

According to the development law of power batteries, the first quarter is usually the off-season of power batteries, and the performance of power battery enterprises basically follows this law. It is worth noting that by the end of 2024, Volkswagen (China) Investment Co., Ltd. (hereinafter referred to as "Volkswagen China") will regain its voting rights.

According to the annual report, Volkswagen China promised that within 36 months after the company’s non-public offering and share transfer are all registered under the name of Volkswagen China, or within a longer period determined by Volkswagen China, Volkswagen China will irrevocably give up the voting rights of some of the company’s shares, so that the voting rights of Volkswagen China will be at least 5% lower than that of the founding shareholders (Nanjing Guoxuan Holding Group Co., Ltd., Li Zhen and Li Chenhe are called the founding shareholders).

The performance of the main business needs to be improved, but Guoxuan Hi-Tech has done a good job in securities investment, achieving an investment income of 108 million yuan during the reporting period.

According to the 2023 annual report, Guoxuan Hi-Tech currently holds 9 stocks. Among them, the newly purchased stocks in 2023 are 30 million yuan of Ernst (301325.SZ), nearly 50 million yuan of Telford Technology (301511.SZ), nearly 49 million yuan of Yifei Laser (688646.SZ), 218 million yuan of TUHU-W (09690.HK) and 107.

Securities investment of Guoxuan Hi-Tech in 2023; Source: 2023 Annual Report

Except for Ernst’s profit of 289,000 yuan, the other new stocks have different degrees of floating losses. It is worth mentioning that among the four stocks originally held by Guoxuan Hi-Tech, only Cyrus brought a profit of 143 million yuan, while Zotye Automobile, Tongguan Copper Foil and Jingke Energy lost 6,706,600 yuan, 9,357,500 yuan and 2,895 yuan respectively.

On April 19th, Guoxuan Hi-Tech closed at 18.55 yuan/share, down 2.16%, with a total market value of 33.117 billion yuan.

　　Buying a house and renting a house, the intermediary helps. In recent years, with the second-hand housing market and housing rental market warming up, the real estate intermediary industry has also achieved rapid development, which has played a positive role in activating the market and promoting transactions. However, many problems such as publishing false houses, concealing real information, forcing agency fees, embezzling or misappropriating transaction funds, engaging in financial business in violation of regulations, fabricating and spreading price increase information are also constantly fermenting in the intermediary market.

　　In response to these problems, seven departments, including the Ministry of Housing and Urban-Rural Development, the National Development and Reform Commission, and the Ministry of Industry and Information Technology, recently jointly issued the Opinions on Strengthening the Management of Real Estate Intermediaries to Promote the Healthy Development of the Industry, and put forward 16 policy measures from three aspects: standardizing the intermediary service behavior, improving the industry management system, and strengthening the supervision of the intermediary market, so as to constantly standardize the order of the real estate intermediary market.

　　Ensure that the listing information is true and the fees will be more standardized and transparent.

　　At present, in order to attract customers, attract business and improve income, some intermediaries hide "tricky" in their operations: some publish false information about houses or houses that have been sold, some maliciously bid down prices, some conceal information about mortgages, and some have problems such as irregular and opaque fees.

　　In order to make the intermediary business behavior more standardized, the Opinions made the following provisions on the system design:

　　Implement the verification system of housing information. Before releasing the listing information, the intermediary should verify the listing information with the consent of the client to ensure that the published listing is real and can be traded.

　　Prepare a statement of housing conditions. Intermediary release of housing information to prepare a housing situation statement, indicating the verification of housing information, real estate intermediary service contract number, housing location, area, property rights, listing price, property service fees, housing pictures, and other important matters that should be explained.

　　Strengthen the release management of housing information. The same listing information released by the intermediary in different channels such as stores and websites shall be consistent, and the listing information without written authorization of the property owner shall not be released, and the information that affects the housing transaction such as mortgage shall not be concealed.

　　The information of traded houses should be removed in time. For houses that have been sold or rented, the intermediary agencies that facilitated the transaction should remove the listing information from the distribution channels such as stores and websites within two working days from the date of signing the house sale or lease contract; For the house that the client has cancelled the entrustment, the intermediary agency shall remove the housing information from various channels within two working days.

　　In order to regulate the fees charged by intermediaries, the Opinions put forward measures such as clearly marking the price, voluntary choice of agency services by the parties and strengthening supervision. Intermediaries should identify all service items, service contents, charging methods and charging standards in a prominent position in the business premises, and all services must be priced separately; To provide services such as property right transfer and loan on behalf of the client, the client shall choose voluntarily and stipulate in the real estate intermediary service contract; Give full play to the role of 12358 price supervision platform.

　　Ensure transaction security and standardize financial business cooperation and tax payment.

　　Buying and selling houses involves real money, and safe transactions are the most important. No one wants to encounter such bad worries as "one room and two sales" and "running away with money"

　　In order to ensure the safety of housing transactions and safeguard the legitimate rights and interests of the parties to the transaction, the Opinions put forward four measures: standardizing intermediary agencies to undertake business, and intermediaries may not provide intermediary services for affordable housing that does not meet the trading conditions and houses that are prohibited from trading; Standardize the signing of intermediary service contracts. When accepting business entrustment, intermediaries should sign written real estate intermediary service contracts with clients and file them for future reference; To implement the online signing system of transaction contracts, all localities should fully implement online signing of transaction contracts. If a house has completed online signing, it cannot be signed again; To implement the supervision system of transaction funds, all localities should establish and improve the supervision system of transaction funds of stock houses. Intermediaries and their employees shall not collect and pay transaction funds through accounts other than supervision accounts, and shall not occupy or misappropriate transaction funds.

　　In recent years, in order to meet people’s demand for housing loans, many intermediaries have established business cooperation with financial institutions. However, in practice, there have also been problems such as intermediary designating financial institutions, bundling services, illegal provision or cooperation with other institutions to provide down payment loans.

　　In this regard, the "Opinions" stipulate that if an intermediary agency provides housing loan agency services, the client shall choose the financial institution independently and shall not bundle financial services with other services; Intermediaries shall not provide or cooperate with other institutions to provide illegal financial products and services such as down payment loans, and shall not charge financial institutions or charge fees such as rebates in disguise; Financial institutions may not cooperate with intermediaries that have not been filed with the real estate authorities to provide financial services.

　　In addition, in order to standardize the tax payment behavior of intermediaries to assist the parties and avoid problems such as concealing the real transaction price and evading taxes and fees, the Opinions require intermediaries and employees to truthfully inform the parties about tax regulations and preferential policies and assist them to pay taxes in good faith according to law; It is not allowed to induce, instigate or assist the parties to a transaction to sign a contract with different transaction prices for the same house, that is, the so-called "yin-yang contract", and quote a lower transaction price; Shall not help or instigate the parties to the transaction to forge false certificates to defraud tax incentives; Do not resell the tax reservation number.

　　Intermediary institutions to implement filing and list publicity, intermediaries must be real names.

　　For a long time, the threshold of intermediary institutions is low, and the fish and dragons are mixed. Some engage in intermediary business without filing, and are outside the supervision; Intermediary practitioners also have the characteristics of high mobility and low overall quality.

　　The "Opinions" clarify that the filing system and the list publicity system should be implemented for intermediaries: First, the filing system should be strictly implemented, and intermediaries and their branches should be filed with the real estate authorities in accordance with regulations. Institutions that provide services through the Internet should not only go to the provincial communications authorities where the institutions are located, but also go to the real estate authorities in cities and counties where the services are covered. The second is to implement the publicity system for the list of intermediaries. Local real estate, communications, and industrial and commercial administrative departments establish a linkage mechanism to exchange information regularly, and publicize the list of intermediaries that have been filed and not filed through government websites and other channels to remind the masses to carefully choose intermediaries.

　　In order to strengthen the management of intermediary employees, the Opinions also clarify the following points: if intermediary employees publish housing information on websites and other channels, they should publish it with their real names, and they should wear work cards indicating their names, organization names, national professional qualifications and other information when serving; City and county real estate departments should register the real names of intermediaries; Implement the professional qualification system for real estate brokers.

　　Those who keep their promises will be smooth all the way, and those who break their promises will be unable to move.

　　Effective supervision depends on institutional innovation. In the future, we will strengthen the construction of industry credit system and build a new supervision system with credit as the core.

　　According to the Opinions, the relevant departments of cities and counties should speed up the construction of a credit management platform for the real estate intermediary industry, record the basic information, good behaviors and bad behaviors of intermediaries and employees in the credit management platform in a timely manner, and publicize them to the public. The national credit management platform will also be gradually established and incorporated into the national social credit system.

　　In the future, honest and trustworthy intermediaries and employees will enjoy convenient and fast services when handling housing verification, contract online signing, loan agency and tax-related business; Relevant departments will optimize the inspection frequency in daily inspection and special inspection; When choosing an intermediary to operate and manage public rental housing invested by the government, all localities will give priority to honest intermediaries.

　　For intermediaries and employees who violate laws and regulations, the relevant departments will take joint disciplinary measures against serious dishonesty through information sharing, and list the subject of serious dishonesty as the key supervision object, restricting them from engaging in various real estate intermediary services; The illegal decisions and "blacklists" made by intermediaries will be publicized according to law through the enterprise credit information publicity system; For serious untrustworthy intermediaries, their legal representatives, principal responsible persons and employees who are directly responsible for untrustworthy behavior, market and industry ban measures will be jointly implemented.