Xinhua News Agency, Beijing, September 7th Question: What are the bottlenecks for new energy vehicles to enter the rural market?

　　Xinhua News Agency "Xinhua Viewpoint" reporters Huang Xing and Xiang Dingjie

　　"It is very cost-effective to buy new energy vehicles now, and it is tens of thousands of yuan cheaper to count various preferential policies. The car is very environmentally friendly, its endurance performance is good, and it is economical and affordable. " Recently, Cao Fuping, a villager from Guang Shun Town, Changshun County, Guizhou Province, bought a Geely Galaxy L7.

　　A survey by Xinhua Viewpoint reporter found that with the help of policies, new energy vehicles are accelerating their entry into the rural market. However, there are still some problems in some areas, such as incomplete charging pile facilities and the need to improve vehicle adaptability. It is still necessary to speed up the construction of charging facilities, enrich rural vehicles and improve support policies to help new energy vehicles go to the countryside.

　　New energy vehicles speed up their drive to the rural market.

　　Walking in many rural areas, from time to time, you can see new energy vehicles with green cards whizzing by.

　　Walking into the charging station of Fuhuan Town, Qijiang District, Chongqing, the owner Liu Gang is charging his polar fox car. Last year, Liu Gang spent more than 220,000 yuan to buy this car. "It only takes more than an hour to charge 80% of the electricity, and it costs less than 1 yuan’s money for every 1 kilowatt hour, which is convenient and affordable. The driving experience of electric cars is also great. " Liu Gang said.

　　The picture shows the owner charging the car at the charging station in Fuhuan Town, Qijiang District. (photo by Yan Jiangkui)

　　Ye Peng, deputy general manager of State Grid Chongqing Qijiang Power Supply Company, told the reporter that in 2022, the company invested 300,000 yuan to build a charging station in Fuhuan Town; After the charging station was put into operation, the number of new energy vehicles in the town has gradually increased to more than 40, and many villagers continue to buy new energy vehicles.

　　In recent years, a series of policies have been introduced to encourage new energy vehicles to go to the countryside. In July 2020, the Ministry of Industry and Information Technology, the Ministry of Agriculture and Rural Affairs and the Ministry of Commerce jointly issued a notice requesting the organization of new energy vehicles to go to the countryside. In June this year, the Ministry of Industry and Information Technology and other ministries and commissions launched the activity of new energy vehicles going to the countryside in 2023, which will last until December this year, with a total of 69 new energy vehicle models participating.

　　Xie Guang, senior director of the strategic planning department of Changan Automobile, said that seven cars of Changan Automobile were selected for this year’s catalogue of new energy vehicles going to the countryside. In order to increase sales, the company introduced a number of preferential policies, such as the best-selling model Benben E-Star giving a discount of 12,000 yuan, while the other model directly dropped 30,000 yuan and then sent the "Three Electricity" (motor, battery and electronic control) lifetime warranty.

　　The accelerated improvement of the charging infrastructure has also helped pave the way for new energy vehicles to "go to the countryside". The data shows that in 2020, the number of individual charging piles in Qijiang District of Chongqing was only 24, and the number of new charging piles in 2022 has reached 515, reaching 586 this year. 86% of townships in Guizhou have built charging facilities, and Chongqing is expected to achieve full coverage of all township charging facilities by 2025.

　　According to the data released by China Association of Automobile Manufacturers, the sales volume of new energy vehicles going to the countryside increased by 80%, 169% and 87% respectively in 2020, 2021 and 2022, driving the cumulative sales of new energy vehicles going to the countryside to more than 4.1 million. The industry expects that the sales volume of new energy vehicles to the countryside will continue to climb this year.

　　Popularization still needs to go through three hurdles

　　Although the sales of new energy vehicles in rural areas continue to increase, the penetration rate in rural areas is still low. According to the data of the National Passenger Car Market Information Association, in March this year, the penetration rate of pure electric passenger cars in counties and townships was 16%, and the penetration rate of plug-in passenger cars in counties and townships was 8%.

　　The industry believes that there are still many problems to be solved before new energy vehicles can enter the "fast lane" in the countryside.

　　— — Charging facilities need to be further improved. The reporter learned that the current rural new energy vehicle market is still in the initial stage of popularization, and the construction of charging facilities in rural areas is still lagging behind. There are problems in the construction of charging piles, such as low social investment willingness, difficult profitability and difficult equipment maintenance.

　　"There are too few charging piles and they are often found everywhere." A new energy owner in Longshan Town, Longli County, Guizhou Province said that local public charging piles are often unavailable, and it is common to run for 10 to 20 kilometers for charging. Zhang Le, a resident of a township in Chongqing, told reporters that he once wanted to start with a new energy vehicle, but he finally chose a fuel vehicle because he was worried that it was inconvenient to charge.

　　— — Models and prices should be more suitable for the needs of rural consumers. Rural residents are more sensitive to price, and quite a few people tend to buy new energy vehicles below 70,000 yuan. Every year, cars go to the countryside mainly in small cars and mini-cars.

　　Some rural residents prefer cheap old scooters. Wang Ping, the branch secretary of Haimakong Village, xiuwen county, Guizhou Province, said that almost every household in the village has an old scooter. "Although the old scooter has potential safety hazards, it is really cheap and has a low threshold for use."

　　According to the car salesmen interviewed, some micro new energy vehicles are selling well, but at present, there are few new energy vehicles that can take into account the use scenarios such as rural cargo pulling and agricultural production.

　　— — The sales service system needs to be further improved. The reporter learned that the traditional fuel vehicle dealer system is deeply rooted, and there are generally 4S stores or dealer channels in the county. However, new energy vehicles often adopt online booking and new direct sales mode, and the dealer system of car enterprises in the county is not perfect, which leads to the underdevelopment of new energy vehicle finance, insurance, used cars, after-sales and maintenance.

　　Take multiple measures to unblock the "blocking point"

　　Industry experts believe that compared with cities, the rural new energy vehicle market will still be a blue ocean. According to the Study on Electric Vehicle Travel in Rural Areas of China published by China Electric Vehicle committee of 100, it is estimated that by 2030, there will be nearly 160 vehicles with 1,000 people in rural areas of China, with a total ownership of over 70 million vehicles, and the market scale may reach 500 billion yuan.

　　Xu Haidong, deputy chief engineer of China Automobile Industry Association, suggested that efforts should be made to improve public charging facilities, enrich rural vehicles and support policies, and accelerate the assistance of new energy vehicles to the countryside.

　　First of all, focus on building public charging facilities. The relevant person in charge of State Grid Chongqing Electric Power Company suggested that public charging facilities should be given priority in counties, townships, enterprises and institutions, commercial buildings, transportation hubs and other places, and at the same time, the existing rural residential communities should be accelerated to carry out the transformation of charging facilities construction conditions according to local conditions, and the requirements for charging infrastructure construction in new residential communities should be implemented.

　　The first integrated photovoltaic charging station in Chongqing, which was completed and put into use on June 16, 2022 (photo of drone). Xinhua News Agency reporter Liu Yushe

　　"Rural areas are mostly ‘ One household and one hospital ’ The living form can be actively explored ‘ Photovoltaic+energy storage+automobile charging ’ Integrated charging mode. " Xie Guang said. The reporter found that at present, the model has been implemented in scenes such as expressway service areas, but it is rarely used in rural residents’ homes.

　　Secondly, we should speed up the supply of products to the countryside. Xu Haidong suggested that new energy vehicle companies should be encouraged to develop more economical, practical and marketable vehicles according to the characteristics of consumers in rural areas, especially products such as micro-trucks, micro-trucks and light trucks. In view of the fact that rural consumers have low requirements for cruising range, the number of batteries can be reduced to reduce the cost and price.

　　In addition, it is necessary to guide new energy vehicle companies to sink their sales and service networks. Lin Yun, an associate professor of Chongqing University, and others suggested that car companies and third-party service enterprises should be guided to speed up the construction of joint business outlets in rural areas, establish a supporting after-sales service system, regularly carry out after-sales service activities in the countryside, and provide emergency rescue services.

With the hosting of the Winter Olympics

Skiing has attracted more and more attention.

Many sports enthusiasts walk into ski resorts.

Experience the freedom and excitement brought by skiing.

Let’s have a look together.

What legal risks should be paid attention to in skiing?

Case study

In the process of falling down the snowy road, because Joe hit Oumou during skiing, Oumou fell and caused a broken fracture of his right thigh and femoral shaft, and he was hospitalized for bone fracture surgery. Therefore, he sued the court and asked Qiao and A Ski Resort to compensate Ou for medical expenses and other expenses. After trial, the court held that Joe found that Ou Mou, who was taxiing nearby, failed to avoid it safely in time, resulting in contact between the two sides and injury to Ou Mou, and he should bear corresponding responsibilities. However, Oumou was only 10 years old at the time of the crime. His father took Oumou to ski on the high-risk intermediate slide, and let Oumou ski alone on the intermediate slide. He did not assist him or take corresponding protective measures. He did not fulfill his guardianship responsibility and did not submit evidence to prove his position and sliding order with Qiaomou at the time of the crime. He should also bear corresponding civil liabilities and reduce Qiaomou’s liability for compensation. As the manager of the ski resort, A Ski Resort failed to reasonably foresee the corresponding risks and remind them when minors entered the high-risk intermediate slide skiing alone, failed to fulfill their safety guarantee obligations, and had certain faults in the accident, so they should bear corresponding supplementary responsibilities.

Judge’s interpretation

1. Skiers are injured because the ski resort fails to fulfill its security obligations.

Law link:

Article 1198 of the Civil Code: Operators, managers or organizers of mass activities in hotels, shopping malls, banks, railway stations, airports, stadiums, entertainment places and other business places shall bear tort liability if they fail to fulfill their security obligations and cause damage to others.

If the behavior of a third party causes damage to others, the third party shall bear the tort liability; Operators, managers or organizers who fail to fulfill their security obligations shall bear corresponding supplementary responsibilities. Operators, managers or organizers may claim compensation from a third party after assuming supplementary responsibilities.

The judge suggested:

Ski resorts, as operators and managers of skiing activities, have the legal obligation to protect the personal and property safety of skiers during skiing. If they fail to provide evidence to prove that they have fulfilled their safety protection obligations, they should bear corresponding tort liability for the damage suffered by skiers. If skiers are at fault, the responsibility of ski resorts can be appropriately reduced. The hidden dangers and loopholes caused by the non-compliance of ski resorts may lead to injury accidents or the expansion of damage results. However, the failure of ski resorts to fulfill their security obligations is generally reflected in the field and the management of ski resorts. Site risk refers to that the site setting of the ski resort does not meet the corresponding standards, such as there are exposed debris, wires and other sundries on the snow surface, and there is no standard fence around the snow trail. The management of ski resorts is mainly reflected in the safety risks caused by unscientific and non-compliant management in the daily operation of ski resorts, such as the failure to clearly mark the level of ski resorts and the untimely rescue of dangers.

2. The skier was injured due to the third person.

Law link:

Article 175 of the Civil Code: The damage was caused by a third person, who should bear the tort liability.

Article 1179 of the Civil Code infringes upon others and causes personal injury, it shall compensate the reasonable expenses for treatment and rehabilitation, such as medical expenses, nursing expenses, transportation expenses, nutrition expenses, hospital food subsidies, and the income reduced due to absenteeism. If it causes disability, it shall also compensate for the cost of assistive devices and disability compensation; If death is caused, funeral expenses and death compensation shall also be paid.

The judge suggested:

The risk caused by a third person generally refers to the risk of collision between skiers due to their failure to fulfill their duty of care. When skiing, we should fully observe the changes of the surrounding environment, select the snow trail and training ground according to our own ability, and take reasonable avoidance measures during skiing to keep a safe distance. Ski resorts are also obliged to manage the safety of tourists, such as controlling the flow of people on the ski slopes and reducing or avoiding the potential risks of tourists when skiing. In case of collision during skiing, you should try to save the basic evidence on the spot, or apply for the surveillance video of the ski resort, so as to clarify the division of responsibilities between the two parties.

3. Skiers are injured due to their own reasons.

Law link:

Article 1165 of the Civil Code. If an actor infringes upon the civil rights and interests of others through fault and causes damage, he shall bear tort liability.

The judge suggested:

Skiers’ own risks are generally reflected in: the risk caused by skiing in a state that is not suitable for skiing, the risk caused by not wearing ski equipment according to regulations, the risk caused by choosing a slide beyond the technical level, and the risk caused by not paying due attention to the obligation when skiing. Skiers should bear the main responsibility for personal injury caused by their failure to fulfill their reasonable duty of care. During the operation of ski resorts, corresponding risk warnings should be made beside ski tickets and snow trails, and guardrails should be set up according to protection standards. Skiing is a very dangerous recreational activity. Skiers should buy insurance before skiing, wear protective gear when skiing, choose the trail that suits them, and go downhill step by step on the premise of ensuring safety.

Source: Beijing Fengtai Court

Original title: "[Going to the ice and snow together] must see before skiing! Please keep this legal risk warning for skiing.

Stock code: 600977 Stock abbreviation: China Film AnnouncementNo.: 2023-031.

China Film Co., Ltd

Announcement on Holding the Performance Briefing Meeting for the Third Quarter of 2023

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibilities for the authenticity, accuracy and completeness of its contents.

Important content prompt

Meeting time: 10:00-11:00 am on December 26th, 2023.

Convening method: network text interaction

Webcast address: Shanghai Road Show Center (//roadshow.sseinfo.com/)

Question collection method: ir@chinafilm.com or WeChat collection page.

China Film Co., Ltd. (hereinafter referred to as "the Company") released the Third Quarter Report of China Film Co., Ltd. in 2023 on the website of Shanghai Stock Exchange on October 28th, 2023. In order to facilitate investors to have a comprehensive and in-depth understanding of the company’s business development, the company plans to hold a performance briefing meeting in the third quarter of 2023 to exchange views on issues of common concern to investors.

I. Solicitation of investor questions

Before 18:00 on Thursday, December 21, 2023, investors can send the information you want to know about the company and related questions to the office of the board of directors of the company in the following ways, and the company will answer the questions that investors are generally concerned about at this performance briefing.

1. E-mail: sent to ir@chinafilm.com;

2. WeChat page: scan the QR code on the right to visit the registration page or click.

Https://www.wjx.cn/vm/mNkw6OV.aspx to fill in.

Second, explain the type and arrangement of the meeting

(1) Meeting time: 10:00-11:00 am on December 26th, 2023.

(B) Convening method: online text interaction.

(3) Webcast address: Shanghai Stock Exchange Roadshow Center (//roadshow.sseinfo.com/)

III. Attendants of the Company

Chairman and General Manager: Mr. Fu Ruoqing

Director, Secretary of the Board of Directors and Deputy General Manager: Ms. Ren Yue

Director and Chief Financial Officer: Ms. Wang Bei

Director and Deputy General Manager: Mr. Bu Shusheng

Independent Director: Mr. Li Xiaorong

Fourth, the way of investor participation

Investors can log on to the website of SSE Roadshow Center (//roadshow.sseinfo.com/) at 10:00-11:00 am on December 26th, 2023, participate in the performance briefing online, and ask questions and interact with the company through the "interactive communication" column of SSE Roadshow Center.

V. Contact Department and Contact Information

Contact Department: Office of the Board of Directors

Contact E-mail: ir@chinafilm.com, Tel: 010-88321280.

It is hereby announced.

Board of Directors of China Film Co., Ltd.

December 19, 2023

A few days ago, McKinsey and BOF jointly released the report "The State of Fashion 2024", which deeply discussed the current situation and future trend of the global fashion industry. The report covers consumer behavior, brand strategy, digital transformation and sustainable development. Let’s take stock of the potential challenges and opportunities that the fashion industry will face in 2024 through the interpretation of the report.

In 2024, fashion companies will face economic headwinds, technological changes and changing competition patterns. However, changes in consumers’ focus will continue to bring opportunities.

—— Introduction to the report

According to the report of The State of Fashion 2024,In the coming year, challenges such as weak economic growth, persistent inflation and weak consumer confidence may make industry leaders feel a lot of uncertainty. In this context, it will be a new challenge for enterprises to discover the value depression and release the new motivation of performance.

We can see:It is predicted that the growth of all regions will slow down but tend to be normal in 2024, among which the growth of non-luxury goods and luxury goods market in China will be higher than that in the United States and Europe in the same period.

McKinsey also predicted that:In 2024, the retail sales of the global fashion industry will achieve a year-on-year growth of 2%-4% (there will be slight differences between different countries and regions). The luxury goods market will once again create the largest share of economic profits. It is estimated that the growth rate of global retail sales of luxury goods will slow down from 5%-7% in 2023 to 3%-5% in 2024, because consumers will curb consumption after experiencing the shopping boom after the pandemic.

10

Trend Prospect of Fashion Industry in 2024

# Global economy #

01 fragmented future

"In 2024, the global economic outlook may continue to be turbulent, and consumer spending may decrease in the coming year," the report wrote.Challenges from finance, geopolitics and other aspects will affect the confidence of global consumers, which requires suppliers, brands and retailers to strengthen emergency response measures.

The economic outlook report released by the Organization for Economic Cooperation and Development (OECD) on November 29th also shows that:The global GDP growth rate will slow down from 2.9% in 2023 to 2.7% in 2024, and it is estimated that the GDP growth will improve slightly in 2025, reaching 3%.It is predicted that from 2024 to 2025, Asia will continue to contribute most of the global economic growth as it did in 2023.

It is worth mentioning that "Emerging Asia", as a promising market, will provide potential growth points.

The urgency of climate

In the past year, the frequency and intensity of extreme weather have proved that the climate crisis is continuing to intensify. These crises also make the fashion industry more fragile. According to the report, by 2030, extreme weather events may endanger the clothing export business worth $65 billion and make nearly 1 million jobs disappear in the four most important economies of the global fashion industry.

According to a report by Fashion Without Borders, 2024 may be the first year when the global average surface temperature is 1.5°C higher than that in the pre-industrial era. This is the first time that the British National Weather Service has predicted that the temperature may temporarily exceed 1.5°C within one year.As the climate crisis worsens, we in the fashion industry can’t delay any longer. We need to build resilience in the fashion supply chain and help reduce emissions.

# Consumer transfer #

03 vacation mode

Consumers are preparing for the largest tourism year since the outbreak of the pandemic. It is estimated that the number of global tourists will exceed the pre-pandemic level for the first time in 2024, reaching 110% of the 2019 level.

For travelers, shopping is still their "top priority". The data shows that 80% of consumers surveyed from the United States, Britain and China said they would buy fashion products when traveling in 2024, and 28% of them plan to spend more than the previous year; More than half of the respondents said they were looking for destinations they had never been to, including second-tier cities.Faced with such demand and changes in market trends, brands and retailers should consider updating their distribution and category strategies to meet the needs of travelers anytime and anywhere.

The new face of influence

The report also mentioned that compared with previous years, 68% of consumers began to be troubled by a large number of sponsored content on social media, and 65% of consumers reduced their dependence on fashion influencers.Consumers are more looking forward to the demand for authenticity, entertainment and approachable personality. The creators of "New Wave" were also born.-they advocate less exquisite aesthetics, grotesque, humor, and fragility.

In order to capture and retain the attention of online consumers in 2024, fashion marketers may break the tried-and-true routine and explore new ways to cooperate with creators.

05 outdoor sports re-innovation

Consumers’ pursuit of healthy lifestyle and "Gorpcore style" has promoted the development of technical outdoor clothing, and this trend may be further accelerated.More and more outdoor brands may launch lifestyle series, and lifestyle brands will integrate technical elements into the series, further blurring the boundary between functionality and fashion.

In recent years, outdoor clothing and shoes have been repositioned as daily items, which means thatThe brand will establish a closer relationship between style and practicality.. With the cooling of the "Gorpcore" trend,Brands may begin to tend to be low-key, "quiet outdoor" fashion.. The report also predicts that in 2024,Competition at different price points and categories may be intensified.Some outdoor brands will tilt their clothes to the high end, while others will adjust their footwear products.

# Fashion System #

06 new generation artificial intelligence

After the emergence of generative artificial intelligence in 2023, there have been some use cases in creative industries including fashion. In 2023, the equity financing of start-ups focusing on generative artificial intelligence surged, reaching $14.1 billion in the first half of this year alone.To seize the value of this revolutionary technology in 2024, the fashion industry needs to go beyond automation and explore its potential to enhance the work of human creative personnel.At present, the EU has reached a preliminary agreement on the artificial intelligence bill, which has reached three points of consensus, including clarifying the obligations of AI systems classified as high-risk, and proposing that citizens should have the right to lodge complaints and have the right to obtain meaningful explanations; The general AI system and model must be transparent, and the biometric identification system should be used in public places for law enforcement purposes, thus achieving exceptions and safeguards for law enforcement exemption.

As mentioned in the report, as many as a quarter of the potential value of generative artificial intelligence in fashion may be driven by use cases in design and product development. 73% of fashion executives have said that in 2024, generative artificial intelligence will become a priority for their enterprises, and 28% of enterprises have tried to use it in the creative process of design and product development.

07 fast fashion power game

In the coming year, the competition of fast fashion may be more intense. Challengers, led by Shein, a B2C fast fashion e-commerce platform, and Temu, a cross-border platform owned by Pinduoduo, are changing their strategies around price, customer experience and speed.

In the past 12 months, 40% American consumers and 26% British consumers have shopped in Shein or Temu. The success of these companies benefits from the innovation of operating models, including flexible design of supply chain from manufacturers to consumers and data-driven product design. These innovations make fashion faster and cheaper than before.

In 2024, this generation of fast fashion may face some challenges as the standards of regulators and consumers on topics such as sustainable development and trade practice are constantly changing.The success of disruptors and incumbents will depend on whether they can adapt to the changing consumer preferences and control the laws and regulations that may affect the industry.

08 Pay attention to the brand

The pattern facing the fashion industry is changing, and performance marketing is no longer the main focus.Brand marketing may become the focus of fashion again in the coming year. The emotional connection between consumers and brands is also likely to become the key for fashion marketers to adjust their strategies and emphasize long-term brand building strategies.According to the survey, 71% of fashion executives plan to invest more money in brand marketing in 2024 than before, and 46% plan to invest more money in effect marketing.

In view of the increasing cost of effect marketing and the restrictions on customer orientation by data privacy laws, fashion marketers need to find new ways to attract shoppers.In the future, brands may improve the way of establishing emotional connection with consumers through marketing, and may cooperate in fashion industry and adjacent fields to create fascinating brand stories.

09 sustainability rules

The era of self-restraint and sustainable development of fashion industry will end on a global scale. New rules from various jurisdictions may have a wide impact on consumers and the fashion industry. Brands and manufacturers need to reform their business models to adapt to future changes.

The report also mentioned that at the end of 2023, there were as many as 16 pieces of legislation related to fashion and textiles under discussion in the EU alone, and the first batch will take effect in 2024. Relevant laws and regulations will cover the whole fashion value chain from product design to marketing, which will have an impact on consumers and enterprises around the world.

10 whip effect

The change of consumer demand leads to the "Bullwhip effect", which brings pressure to fashion suppliers.The "bullwhip effect" refers to the phenomenon that when the demand information in the middle and lower reaches of the supply chain is transmitted to the upstream, retailers, distributors and wholesalers are overweight layer by layer because the information cannot be effectively shared, and the demand is getting higher and higher upstream, just like waving a bullwhip, which eventually leads to a great difference between the demand data obtained by the most original supplier and the demand information of customers in the actual consumer market.

In the fashion industry, the impact of demand fluctuation on upstream suppliers is particularly serious. According to the report data, the production capacity of factories that were produced at full capacity in 2021 has dropped by 30%-40% by 2023. According to 73% of chief procurement officers, this volatility will become one of the primary challenges affecting supplier relations in the next five years.If the supply wants to keep up with the expected new demand, brands and retailers should consider paying attention to transparency and strengthening strategic partnership.

*

The report of The State of Fashion 2024 writes:Looking forward to 2024, fashion leaders are expected to encounter more unfavorable factors and feel uncertain about the prospects for the coming year.. In the survey conducted in early September, 26% of the respondents expected the market situation to improve in 2024, 37% expected the situation to remain unchanged, and 38% expected the situation to deteriorate. This is the biggest difference in the BoF-McKinsey survey since 2017.

It is not difficult to predict that the next year will still be a year of crisis and opportunity. Although it is full of changes, there is still a breakthrough prospect.Facing the innovation of science and technology and the development of artificial intelligence, enterprises can seize opportunities by making full use of technology; Faced with the increasing demand of consumers for authenticity and affinity of content, marketers can consider taking advantage of the new wave of creation to create a new brand narrative; In the year when people rekindle their enthusiasm for travel, enterprises can further enhance the way of interacting with consumers and create a brand experience that breaks through the tradition …

All in all, 2024 is a challenging year. We are full of confidence, but we are not blindly optimistic. We also expect industry practitioners to ride the wind and waves, rebuild their confidence in the process of recovery, lay a solid foundation and accumulate wealth.

For more details, please pay attention to WeChat WeChat official account: Fashion Without Borders.

Reveal three secrets of middle-aged and elderly women’s dress

In the bizarre fashion stage, we can’t help thinking about an intriguing question: Why do some middle-aged and elderly women still can’t erase that strong rustic feeling even if they wear expensive fashion? After all, is the essence of fashion wearing really just a pile of famous brands and price labels? Through in-depth analysis, we may find some enlightenment in the fog of fashion.

The lag of fashion concept

The primary reason is the lag of fashion concept. Some middle-aged and elderly women can’t keep up with the pace of the times and still stay in the old fashion concept. With the rapid development of society, fashion is no longer the exclusive domain of young people, and middle-aged and elderly women should also become the protagonists of fashion. However, some people seem to be fixed in the past by time, unable to keenly capture the current fashion pulse.

Time waits for no one.

This is not only a matter of dressing, but also a reflection of life attitude. Fashion is a field full of vitality and creativity. Being integrated into it can not only make people rejuvenate, but also express their love for life. Therefore, if middle-aged and elderly women can break the inherent fashion concept and bravely try some novel and interesting combinations, they will certainly be able to shine a brand-new light on the fashion stage.

Neglect of dress quality

Perhaps some people think that as long as you wear a famous brand, you can become a fashionista in a second. However, true fashion is not only ostentation, but also quality support from the inside out. Some middle-aged and elderly women are confined to traditional ideas, limiting fashion to superficial material accumulation, but ignoring the importance of clothing quality.

Sublimation of taste

Fashion is not just chasing the trend, but also a pursuit of quality life. Regardless of the price, the fabric, cutting and workmanship of clothes are very important. If middle-aged and elderly women can pay attention to the texture and design sense of clothes and choose clothes suitable for their body shape and temperament, they can inadvertently show their elegant taste consistent with their age. After all, wearing a sense of quality can better show the fashion charm of both internal and external repair.

Lack of personalized style

The lack of personalized style is also an important reason why middle-aged and elderly women wear clothes and become rustic. Some people rely too much on fashion magazines or celebrities’ clothes, but ignore the unique value of individuality in fashion. Dressing is not only a superficial modification, but also a way to show individual independence.

Unique light

If middle-aged and elderly women can tap their own unique charm and create a style that conforms to their personality, they will surely shine brilliantly on the fashion stage. Different people have different temperament and aesthetics, and personalized fashion style can better show a person’s unique charm. Therefore, in the pursuit of fashion, middle-aged and elderly women should pay more attention to discovering their own uniqueness and bravely show their personalized style.

The eternal password of fashion

Fashion is an eternal topic, and age has never been a shackle that limits fashion. Middle-aged and elderly women can also shine in the palace of fashion. The key is to dare to try and break through. It is a brave step for every middle-aged and elderly woman to get rid of the shackles of the past, no longer be satisfied with tradition and explore personalized dressing styles.

Fashion is not only an external splendor, but also an internal attitude towards life. Taste, quality and personality are the keys for middle-aged and elderly women to find fashion codes in the fashion maze. Only by truly understanding and implementing these three elements can we exude a unique charm that is commensurate with our age but does not lose our sense of fashion. May every middle-aged and elderly woman shine her own light on the big stage of fashion and make the imprint of the years more charming.

2022A&2023Q1, affected by epidemic situation, consumer psychology, traffic environment and other multiple factors, the sales of beauty cosmetics with optional & fast-disappearing properties are not ideal. The performance differentiation of listed companies has intensified; Online beauty products are shrinking and Tik Tok’s beauty products are increasing, but there is no obvious recovery offline. Looking forward to the second quarter, both the demand side and the supply side of beauty cosmetics are improving marginally, and the low base caused by the epidemic in the same period last year is superimposed, and the growth rate of the industry is expected to bottom out. However, due to the lack of driving force at the bottom, the recovery rate may be limited; Prefer stocks whose current growth can hedge the unfavorable factors of the industry.

▍ Performance is generally under pressure and differentiation is intensified.

1) Revenue & profit: the growth rate slows down, and the performance of high-quality leading players is tough. In 2022, the total operating income of six brand listed companies was 22.07 billion yuan/year-on-year+31.3%, with a growth rate of-16.7 pcts; Among them, the income growth rate of Polaiya (+37.8%/+14.3 pcts) and Juzi Bio (+52.3%/+21.9 pcts) increased against the trend.

2) In 2022, the total attributable net profit of six brand listed companies was 4.06 billion yuan/+11.0%, and the attributable net profit of Polaiya ranked first with a growth rate of 41.9%, and the profit growth rates of Huaxi Bio, Juzi Bio and Betani all exceeded 20%.

3) Gross profit margin: most of them declined, while Polaiya & Marumi rose against the trend, and the gross profit margin of Juzi Bio ranked first; The gross profit margin of Polaiya and Marumi shares was 69.7%/68.4% respectively, which was+3.2/+4.4 pcts year-on-year; Juzi Bio ranks first in the gross profit margin of all brand beauty listed companies with 84.4%.

4) Net interest rate attributable: most of them declined, while Polaiya rose against the trend. In 2022, the net interest rate of six brand listed companies increased by one and decreased by five; Among them, the net interest rate of Polaiya was 12.8%, which was +0.4pct year-on-year.

▍ Amoy’s beauty cosmetics contracted, Tik Tok’s beauty cosmetics increased, and the proportion of Tik Tok’s channels occupied online increased.

Industry perspective: 22 years of negative growth in Amoy beauty, 23Q1 decline narrowed; 22 years’ high growth of beauty in Tik Tok. 1) Amoy Department: According to the market intelligence data of Magic Mirror, the sales of beauty cosmetics of Amoy Department in 2022 was 280.6 billion yuan, with a year-on-year growth rate of-13.4% and-22.1 pcts; In 2023Q1, the sales volume of Amoy beauty cosmetics was 54.2 billion yuan, which was-12.7% year-on-year, and the growth rate was+1.6 pcts; 2) Tik Tok: According to the data of Mama Chan and Jumei, the sales of beauty cosmetics in Tik Tok in 2022 was 90.2 billion yuan, up+113.7% year-on-year; In Q1 of 2023, the sales of beauty cosmetics in Tik Tok reached 31 billion yuan, up+83.4% year-on-year, and the growth rate was +30.5pcts.

Corporate perspective: online revenue accounted for 57% ~ 91%, and the proportion of online channels in Tik Tok increased. In 2022, Polaiya Online accounted for 91%/+6pcts, of which Tik Tok accounted for about 15%+; Huaxi biological functional skin care products account for about 93%/+3 pcts online; Among them, Tik Tok accounts for about 31%/+14 pcts; Betaine online accounted for 81%/+1 pct, of which Tik Tok revenue accounted for 9%/+3 pcts; Giant biological line accounts for 57%/+15 pcts; Marubi shares accounted for 72%/+12 pcts online.

▍ Focus on creating classic big items and strengthening brand mind.

Local beauty companies actively increase their research and development, and empower them to create large items from many aspects such as raw materials and formulas.

Winona: Breaking the circle of "sensitivity+",consolidating the original superior items and creating a new generation of big items of the elite family;

Polaiya: The matrix of large single products has been initially built, and the strategy of large single products has been firmly implemented. New products such as Cloud Sun Protection and Double Anti-3.0 have been listed;

Run Baiyan: Brand mind is upgraded from basic moisturizing to technological repair, focusing on creating three series of barrier conditioning, light damage repair and time repair;

Quadi: Focus on eye cream and face cream to create an anti-aging mind. In April 2023, Quadi put on a new eye cream for young people (anti-eye cream);

Mibel: The main products are water and essence. In February, 2023, Mibel put on a new multi-vitality essence eye cream and a young age firming new muscle essence (3A purple essence).

Muscle activity: build large single products around brown rice series. According to the market information of magic mirror, in 2022, brown rice water single products accounted for 37.5%;

Marubi: continuously focus on eye and anti-aging products, mainly promoting the series of recombinant collagen and polypeptide red pens.

▍ New products have been put on record, and contents such as ingredient IP and "skin care formula" have been marketed.

According to the data of the State Food and Drug Administration, since the beginning of 2023, new products of local beauty listed companies have been put on record: 65 Marubi, 62 Polaiya, 55 Huaxi Bio, 38 shanghai jahwa, 20 Betani, 18 Giant Bio and 18 Lushang Development. The volume of recombinant collagen has increased, and Juzi and Marubi have launched high-potential new products with recombinant collagen peptide as the core component and increased their delivery to create explosions; The "skin care formula" extends from "early C late A" to "early P late R".

▍ Risk factors:

Post-epidemic recovery progress, insufficient willingness to consume, sustained recovery, etc. may have negative effects; Strict supervision or exceeding expectations; The progress of enterprise product development or approval may be less than expected, which will have a negative impact on performance.

▍ Investment strategy:

From the second quarter, both the demand side and the supply side of beauty cosmetics are expected to improve marginally. Adding to the low base caused by the epidemic in the same period last year, the growth rate of the industry is expected to bottom out. However, in view of the fact that the driving force of the industry has not changed substantially, the recovery rate may be limited. Judging from the third data such as magic mirror and mother, the growth rate of online beauty data in April has turned positive to a small positive growth; The situation of further recovery needs to be observed in the "618 Great Promotion" which started in late May. In terms of investment, there are many structural and individual opportunities.

Main line 1: Recommend companies that have outstanding comprehensive capabilities or are currently in the harvest period of change.

Main line 2: Recommend companies that adjust in stages, whose stock prices fully reflect the negative, and whose fundamentals are expected to improve marginally.

Main line 3: It is recommended to choose the right opportunity to lay out the air outlet track with outstanding technical advantages and good growth, but the stock price is affected by non-fundamental factors such as lifting the ban.

Main line 4: Recommend emerging sunscreen companies that are in the climbing cycle of capacity utilization rate, and actively expand into the field of personal care raw materials with broad growth space.

This article comes from a selection of brokerage research reports.

Live broadcast November 30th. According to Beiqing report, Li Tie himself recently found Chen Yiyuan, chairman of the Chinese Football Association, profoundly self -review and sincere apology.mean.

For Li Tie’s future, the Chinese Football Association will submit a report to the superior management department. After approval, it will announce the final result through official channels in December.

Li Tie brought the country’s feet this afternoon to the last outdoor training of this closed training at the Taihu Taihu Football Base in Suzhou.Subsequently, the team will take one day on December 1 and be collectively transferred to Shanghai on December 2 to receive "independent observation".Because some Chinese Super League teams have recently come to Shanghai to prepare for the Chinese Super League, some of the national football will directly meet with the club troops, and the national football coaching team will not arrange any collective training in Shanghai.

On April 19, a courier rider was delivered to Jiujiang Road, Bund Street. Two buss had just pulled away a close contact with a group of new crown pneumonians from here and sent them to Hangzhou, Zhejiang. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 14, a "head" of the community group purchase of community group purchases was inspecting the group purchase list, which was in front of her soybean products. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

Photography report | | Li Qiang

This spring, because of the new crown pneumonia, "Magic Capital" Shanghai encountered some problems. For a modern metropolis, in the face of stores and pharmacies, it is difficult to solve the problem of 25 million people to eat and see a doctor in the face of the closing of stores and pharmacies. Conservation has become a big thing.

A citizen living in Yangpu District, Shanghai said that she set up three different platforms to grab the food alarm clock every day: at 12 o’clock in the night, grabbing Sam or US cuisine, at 6 am, and 8 o’clock in the Hema. Nevertheless, she was always "not snatched." The daily greetings of people’s daily greetings are, "Today, have you grabbed the dishes?" The young people who were accustomed to shopping online were tossed online and tossed, and those who had not learned to use smartphones could only be Waiting for assistance.

At the press conference on April 16, Liu Min, deputy director of the Shanghai Municipal Commercial Committee, said that for some time, the problem of difficulty in shopping on online shopping in Shanghai was mainly because many takeaway riders were sealed in the community. Temporarily closed due to the requirements of epidemic prevention, which allows e -commerce to protect the supply ability. In addition, due to the upgrading of the epidemic situation in some places, the land transportation and logistics in some areas are not good, and some living and production materials are blocked on the road, which also affects Shanghai’s confession.

In order to send materials to the people, a company guaranteed enterprises to transfer 160 experienced and professional employees to support warehouse operations from Wuhan, Guangzhou, Shenzhen, Beijing, Kunming and other places. In this warehouse for enterprises, the reporter saw a truck sending vegetables. The packant was packed into a box after disinfection of vegetables and transferred to the delivery staff. There are many people who have been temporarily changed to join the delivery team. Some of them were online car drivers, some were driving a photography studio, and some people just came to Shanghai from Inner Mongolia to find a job, but happened to encounter the epidemic.

The rider who was trapped in the community also came out to solve the problem of "last mile". Although they were informed that they could not go back after being out of the community, they still chose to go to the streets to deliver life and medical supplies for citizens. The rider who could not solve the problem of accommodation had to sleep on the street at night. Now on the empty streets of Shanghai, they are the busiest people. They buy fruits, vegetables, meat, and medicines, take pets for pets, and then distribute them in time. On the street electric vehicles, various living materials bags are often hung.

On the evening of April 9th, there were many riders who were waiting to buy goods in Huangpu District, Huangpu District, Shanghai. When a citizen passed by, he looked down curiously. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On the evening of April 9, a fruit shop opened the door for a half -door business. Many riders were waiting to pick up the order to buy fruit, drinks, and eggs for customers. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 12, two takeaway riders were resting on the street. They came from Baotou (left) in Inner Mongolia (left) and Kashgar (right) in Xinjiang. In the early days of the epidemic, they were sealed at home. On April 7, they went out of the rented community to deliver takeaway to deliver life and medical supplies for citizens. Since the community no longer allows to enter, they have to temporarily live on the street. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 19, a rider walked out of the street’s residence. After going out, because the community was not allowed to enter again, many riders who had nowhere to stay had to choose to temporarily live on the street. The rider used a cloth to separate a piece of space in front of a snack bar. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 12, Huangpu District, Shanghai, was divided into Yuyuan Street, which was divided into a preventive area. A business shop counter was filled with medicine waiting for delivery. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 12, Huangpu District, Shanghai, was divided into Yuyuan Street, which was divided into a preventive area. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 14th, in front of Huangpu District, Shanghai, a rider received a pet medication for customers on behalf of the customer. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 11, a large number of orders waiting for delivery were placed in Songjiang District, Shanghai, Shanghai, Songjiang District, Shanghai. The staff told reporters that after returning to business, the online orders quickly "exploded". Due to limited manpower, each time they dared to turn on the system for a few seconds. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 17, in Qingpu District, Shanghai, a courier company’s warehouse was full of epidemic prevention supplies that were about to be sent to various communities in Shanghai. This is a group of enterprises donated 10 million yuan of epidemic prevention materials. It will be sent to nearly 200 residential (village) committees and 200,000 families in Shanghai. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 10, Pudong New District, Shanghai, a warehouse in Shanghai’s supply enterprise was stored in government group purchases, and was ready to send it. The guarantee enterprises have dispatched 160 experienced logistics professional employees to support Shanghai from Wuhan, Guangzhou, Shenzhen, Beijing, Chengdu, Kunming and other places to support Shanghai, so that the warehouse matching system can continue to operate. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 10th, a truck was provided in the warehouse of the enterprise in Pudong New District, Shanghai, and a truck was sent to vegetables, including radishes and cabbage. When unloading, each bag of vegetables need to be disinfected. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 10, in the Pudong New District of Shanghai, a provider was inside the enterprise warehouse, and a distributor dragged the packed living materials outside the door to prepare to load the car. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 10, the Pudong New District of Shanghai, a certain guarantee in the enterprise warehouse, the delivery staff were resting. Many of these distributors are temporarily changed. They originally came from all walks of life. Some people were previously online car drivers. Some people drove a photography studio. Some people just came to Shanghai from Inner Mongolia to find a job. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 19, a rider was driving near the street near the Bund. Not far away is the Oriental Pearl TV Tower, which has been suspended.

On April 19, a rider in Huangpu District, Shanghai was driving on the South Suzhou Road. The Daba chrysanthemum beside the Suzhou River was flourishing, but there were few pedestrians on the road. Occasionally someone walked the dogs, and some people who couldn’t get out of the door leaned against the window. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

Residents are actively helping themselves in places where the outside world guarantees cannot be reached.

Community group purchases have become an important way for self -rescue of civilians. In many communities in Shanghai, "egg group", "vegetable group", "fruit group" and "milk group" appeared. In a hotel in Minhang District, Chinese and foreign lives are "head" to help everyone buy different materials. The "head of the group" sought their own supply channels and delivery riders. When people grabbing food on the Internet failed, they could always try to get the goods.

In the mutual aid group of Caojiaxiang District, Putuo District, the "Easy Protective" that disappeared from modern daily life became a normal state. Someone took out coffee and wine and replaced vegetables and eggs. In the corridor of the community, people can often see the goods packed with various bags in front of a house. After a hungry resident for many days in the group for help, other residents and volunteers of Lou Dong sent food spontaneously.

At night, some small shops on the street will quietly open the rolling door. The citizens nearby take the time to do nucleic acid testing and go to the temporary grocery store to supplement their living materials. After the riders learned that there was a good news of a fruit shop, they rushed to the shop waiting for the list to buy fruit for customers. Other shops choose to close the door. After the citizen is paid online and down, the rider will be available to the store to pick up the goods.

Some people even start buying vegetables seeds online, planting vegetables on the balcony, or digging wild vegetables on the community. An Anhui person who is a driver in Shanghai all year round becomes a community volunteer. Every day, in addition to the medical staff who sent the medical staff of the Anhui medical team to and from the nuclear acid sampling point, he will also give the extra box lunch to the rental house, and then Fellows who can’t buy life materials. Wanderers on the street can occasionally eat their extra box lunch.

On the evening of April 9th, a grocery store opened the store to provide living materials to guarantee living materials for nearby citizens. A citizen was buying drinks and wine in the store. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 12, in Xuhui District, Shanghai, in a community belonging to the seal -and -control area, residents took the car to the living materials storage point to pick up materials. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 12, a elderly person went to Yifeng Da Pharmacy in Yuyuan Street to buy medicines. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 12, a citizen in Huangpu District, Shanghai, walked out of the house to buy fruits. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 11, the takeaway transfer point in front of a supermarket door in Songjiang District, Shanghai. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 14, a community volunteer in the fourth grade of elementary school in Shanghai was instructed by an unmanned delivery vehicle to park medicine. In this community, 4 unmanned delivery vehicles solve the problem of the last 100 meters of residents’ living materials. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

On April 14th, a bicycle in Shanghai Pudong New Area, a bicycle was carrying the purchased hoe and other living materials in a closed management community. China Youth Daily · Zhongqing.com reporter Li Qiang/Photo

At the same time, Shanghai is also trying to restore capacity to promote commercial node outlets such as Datang and front warehouses in e -commerce platforms. On April 16, the press conference of the Shanghai New Crown Pneumonia’s Epidemium Prevention and Control revealed that the Shanghai e -commerce platform has been restored to 42 business. 779 are restored before the immune -related warehouse, and the number of takeaway rides is more than 18,000. The daily delivery single volume is about 1.8 million orders.

On April 20, some media learned from the Shanghai Municipal Commercial Commission that "Shanghai Vegetable Insurance Supply of the Wholesale Business Transfer Station" was established in the Jiangqiao wholesale market, encouraging and supporting vegetable wholesale operation enterprises and operating households across the country to actively organize the supply of supply, through Jiangqiao The transit station is transferred to the Jiangqiao wholesale market transaction and continues to supply the Shanghai market. The long -lasting war of this confession is gradually getting out of the predicament under the investment of officials and folk forces.