CCTV News:Road traffic safety cannot be ignored for a moment. Recently, another scene of shock occurred in Baoding, Hebei Province.

　　A mother riding an electric bicycle, carrying her two children, ran a red light across the road and was knocked down by a car coming sideways. A boy was directly involved in the bottom of the car.

　　At about 3: 28 pm on the day of the incident, at the T-junction of the traffic lights in Chen Zhuang, Wangdu County, a woman with two children was driving an electric bicycle from north to south. At this time, the traffic lights in the north-south direction were red. The woman did not stop and wait, but did not hesitate to pass the red light; At the same time, the signal light from west to east turned green. After the signal light turned yellow and the light flashed, a white car turned left and accelerated through the intersection, just colliding with the electric bicycle, knocking it down and rolling a boy in the car under the car. After the accident, the driver of the car immediately stopped to save people and reported to the police.

　　Bai Qiumei, Hebei Baoding Traffic Police Detachment:There were three people riding the electric bicycle, mother and son, all of whom were injured to varying degrees. The boy in the back seat couldn’t afford to fall to the ground and was seriously injured. The vehicles of both sides of the accident were damaged.

　　The ambulance arrived at the scene five minutes after the accident.

　　In order to verify the situation, Wangdu traffic police retrieved the video footage of the incident. Through the video, it was found that women riding electric bicycles ran red lights, while white cars with left turns grabbed the lights and met non-motorized cyclists, which was the cause of the accident.

　　Bai Qiumei, Hebei Baoding Traffic Police Detachment:The driver of the electric (self-propelled) car, Wang Mou, and the driver of the car, Wang Moumou, should bear the same responsibility for this accident, and the passenger is not responsible.

　　CCTV News:On October 21st, 2017, coincided with the grand opening of The 19th National Congress of the Communist Party of China, the 23rd China Yiwu International Commodities Fair, the largest commodity fair in China, was held in Yiwu, Zhejiang.

　　This year’s Yiwu Fair has 4,100 standard booths, involving 14 major industries. Combining with the cultivation direction of emerging sectors, it has set up eight special areas, namely "Made in Zhejiang" theme area, standard Expo area, innovative design, smart lifestyle, fashion department stores, international brands, e-commerce and trade services, and women’s Federation handicrafts, with a total of 10 pavilions with an exhibition area of 100,000 square meters. It attracted more than 2,200 enterprises from 16 countries and regions including Australia, Japan, Brazil, Germany, Italy and France, as well as 24 provinces (municipalities and autonomous regions) in China.

　　As an important supporting meeting in the 2017 Yiwu Fair, the "2017 China Retail Department Store (Yiwu) Purchasing Summit" was held simultaneously during this period. The summit was hosted by the Executive Committee of Yiwu International Commodity Expo in China, jointly organized by Zhejiang China Commodity City Group Co., Ltd. and IBMG International Business Management Group, and sponsored by Yiwu Mr. Huolang Trading Co., Ltd., and the conference received extensive attention and praise from the government, industry, news media and people from all walks of life.

　　More than 200 enterprise bosses and senior executives from more than 50 retail enterprises, including national top 100 retail enterprises, listed companies and regional leading enterprises, led their professional purchasing teams to participate in the summit. In order to actively broaden the domestic sales channels of local suppliers in Yiwu, improve the purchasing efficiency and quality of participating retailers, and promote the in-depth cooperation between suppliers and retailers, the summit invited Mr. Li Sheng, deputy director of the Expert Working Committee of China Business Federation, Professor Wu Leijun, course director of SPACE China Business College of the University of Hong Kong, and other big coffee makers in the retail industry to conduct in-depth thematic discussions and share, and specially arranged a number of on-site retailers’ fair for high-quality goods, which promoted many categories such as household goods, imported goods, knitwear, toys, cultural offices and sporting goods. During the summit, the delegates also visited well-known local enterprises in Yiwu, and went deep into the factory to learn about commodity technology.

　　Mr. Jiang Ming, President of China Business Federation, made an opening speech for the summit.

　　In his opening speech, Mr. Jiang Ming, President of China Business Federation, said: Yiwu has changed from "buying and selling the whole country" to "buying and selling the whole world". This is a hot spot for entrepreneurship, a land of real miracles. Department stores cover a wide range of commodities, and have become synonymous with Yiwu. Yiwu International Trade City is one of the largest export bases of small commodities in China, and its market extroversion has reached 65%.

　　The theme of this conference, "focusing on commodities, upgrading layout-supply chain reconstruction under consumption upgrading", fits the background of the retail industry environment, identifies the profit model, returns to the essence of retail, and locates customers with commodities. This summit will discuss how to rebuild the supply chain in the new retail era with the help of Yiwu’s advantages, new technologies and new theories, focus on market consumers, push forward with the pace of transformation of both domestic and foreign trade in Yiwu Fair, and strive for the healthy and rapid development of the retail industry and a broader future!

　　Cctv newsOn August 30th, International Sharp Review, the general radio and television station of China, broadcasted an article entitled "Australia’s reasons for rejecting Huawei are untenable", which was reprinted or quoted by many overseas media.

　　From August 30th to September 1st, CNBC, Singapore Asia News Channel, Malaysia National News Agency Radio, etc. quoted relevant contents or materials. French digital radio LCF facebook account, German-Chinese Report website, Spanish Radio International website, Italian Radio We website (facebook, twitter), Indian Daily Morning News website, Kazakhstan Industrial News website, Jordan Global Radio facebook account, Nordic Times website, Europe-China United Times website and many other overseas media forwarded. The main reports are as follows:

　　For those who are concerned about the development of global telecommunications technology, if asked which company in the world has suffered the most and been censored the most? People may think of China Huawei in unison. Recently, the Australian government banned Huawei from participating in the construction of Australia’s 5G network on the grounds of "network security" in an obscure statement, which hindered the company’s business in Australia.

　　Network security is the focus of all network users and the core concern of all countries. However, this concept should not be too generalized, and even become an excuse to achieve a certain political goal. As far as Australia prohibits Huawei from participating in its 5G network construction, the reason of "network security" is untenable from any level.

　　First of all, from the perspective of cooperation, according to public information, Huawei, as the world’s largest telecom equipment supplier, has cooperated with 45 of the world’s 50 mainstream telecom operators, covering 170 countries and supporting the daily communication needs of more than one-third of the world’s population. If Huawei’s network is not secure, the global telecom giants will never venture to cooperate with it. According to the news released by Huawei, Australian operators have been using Huawei equipment for 15 years, during which there has never been an incident that threatened Australia’s national security; Huawei has never received any questions from the Australian government about its corporate governance and the safety of its business operations.

　　Secondly, from a technical point of view, Huawei, as the largest provider of 4G network technology in Australia, not only promoted the competition in the local telecommunications market, but also reduced the broadband and communication costs of local consumers. With the development of information technology, 5G network with higher speed and lower delay is becoming the next competitive point in the industry. At present, Huawei ranks first in the world in the number of 5G patents, and most western countries, including Britain, New Zealand and Canada, accept Huawei’s common practice of expanding 5G on the basis of 4G. In fact, there is no essential difference between 5G architecture and 4G, and its core network and access network are separated. Compared with 4G, it has a more perfect guarantee mechanism in security and privacy protection. Since Australia asked Huawei to build a 4G network, why not 5G?

　　Thirdly, from the industrial point of view, in today’s highly globalized world, Huawei, Nokia, Ericsson and Apple all have similar global supply chains and production lines, and all of them are made in China. Even if Australia refuses Huawei to participate in the construction of the 5G network and chooses other manufacturers, most of the 5G devices deployed by other manufacturers will still be made in China.

　　"Cyber security" is just an excuse for Australia to close the door to Huawei. It is neither in line with business rules nor aboveboard, and there are deeper political factors behind it. For a long time, China has been Australia’s largest trading partner, and the United States has always provided it with a security umbrella. Australia is trying to find a balance between these two most important foreign relations. Since last year, Australia-China relations have been cold, and the unfriendly side to China in Australia’s domestic atmosphere has risen sharply. China students have been accused, Chinese in Australia have been questioned, and all people or organizations associated with China have been labeled as "unsafe". As a multinational private enterprise in China, Huawei originally participated in Australian business through fair competition, but it was "original sin" because it came from China.

　　The National Defense Authorization Act recently passed by the United States stipulates that it is forbidden for any U.S. government department to use the products of China Huawei and ZTE, and it is also forbidden for any entity that has business relations with the U.S. government to do so. In terms of security, Australia, which has always looked at the United States with a wink, took advantage of the complex domestic political atmosphere to violate the treaties or agreements on bilateral investment and free trade signed by China and Australia in 1988 and 2015, at the expense of the interests of the Australian people, and blocked Huawei from the market under the pretext of "security". According to the latest news, this move has caused Australian communication service providers to prepare to raise prices.

　　China-Australia relations are essentially win-win cooperation. Over the years, Huawei has been rewarded in the Australian market because of its efforts in innovation, and Australia has also accelerated the upgrading of information facilities and the transformation of the digital economy because of the products and services provided by Huawei, and both enterprises and people have a real sense of gain. Commercial issues should not be politicized. If Australia wants to seize the opportunity of information technology and achieve economic growth in the next few decades, it should take off its colored glasses and welcome innovative China enterprises like Huawei to actively participate in its development process.

　　Many overseas media quoted and forwarded "International Sharp Review" articles:

　　As of September 1, 2018, CNBC has quoted relevant content or materials twice.

　　As of September 1, 2018, Singapore Asia News Channel has quoted relevant content or material 6 times.

　　French digital radio LCF facebook account forwarded on August 30, 2018

　　The German-Chinese Report website was forwarded on August 30, 2018.

　　Radio Spain International website forwarded on August 30, 2018

　　Italian Radio We website (facebook, Twitter) forwarded on August 30, 2018.

　　India’s "Daily Morning News" website was forwarded on August 30, 2018

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

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

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

　　Wuling Hongguang MINIEV

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

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

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

　　BYD Dolphin

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

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

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

　　Ou la hei Mao

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

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

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

　　Chery new energy xiaomayi

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

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

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

　　Nezha v

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

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

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

　　Zero run T03

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

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

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

　　Baojun KiWi EV

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

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

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

　　Redding mango

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

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

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

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

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

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

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

　　6.65 billion yuan acquisition broke into the cardiovascular super track

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

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

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

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

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

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

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

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

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

　　Extension acquisition gives birth to a new domestic leader.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

　　The approval of Goodwin’s fixed stock has expired.

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

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

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

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

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

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

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

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

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

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

　　Lianhuan Pharmaceutical received the results of GMP compliance inspection.

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

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

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

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

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

　　(Shanghai Stock Exchange)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

　　(Shanghai Stock Exchange)

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

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

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

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

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

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

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

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

　　Meeting place: company meeting room.

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

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

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

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

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

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

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

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

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

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

　　(Shanghai Stock Exchange)

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

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

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

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

　　(Shanghai Stock Exchange)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

　　UFIDA: Accumulated repurchased 34,654,423 shares.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

　　[Company Report]

　　Weilai signed a strategic cooperation agreement with Longji Green Energy

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

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

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

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

　　ST Tiancheng received the inquiry letter of performance forecast.

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

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

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

　　Anhui Construction Engineering Subsidiary won several projects.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

　　Facing judicial auction

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

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

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

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

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

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

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

　　Has changed hands three times.

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

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

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

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

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

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

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

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

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

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

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

　　Business is not good enough.

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

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

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

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

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

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

　　Image source: Xinhua News Agency

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

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

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

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

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

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

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

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

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

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

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

　　# Trend

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

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

　　Hubei accelerates the cultivation and development of artificial intelligence industry

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

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

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

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

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

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

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

　　# Sound

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

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

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

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

　　# Number reading

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

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

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

　　# Post the list

　　China’s richest woman changed.

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

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

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

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

　　# Personnel

　　Two provincial and ministerial officials took up their posts.

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

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

A few days ago, the pickup truck market obtained the sales data of pickup trucks in the United States in the first half of 2022. In June 2022, the pickup truck market in the United States sold 233,113 new cars, which was 6.9% lower than that of 250,349 in 2021. From January to June, 1,341,611 new cars were sold, down by 11.4% compared with the same period in 2021. Since the global epidemic in COVID-19 in 2020, the pickup truck market in the United States has been affected by factors such as insufficient production capacity and sluggish economy, and its sales volume has declined for two consecutive years. Up to now, it has continued the previous downward trend in 2022, and it is difficult to recover in the short term.

According to statistics, in the first half of 2022,Ford F-series, Ram pickup truck and Chevrolet Sorod still occupy the top three positions, and GMC Sierra surpassed Toyota Tacoma to rise to fourth place; Chevrolet Colorado,Nissan Frontier and GMC CanyonAfter the replacement of medium-sized pickup trucks, the sales performance is remarkable, and emerging pickup trucks such as Ford Maverick and Hyundai Santa Cruz have injected new vitality into the American market; Rivian R1T, Hummer EV and other emerging electric pickup products began to be delivered gradually.

Ford is the absolute overlord of the pickup truck market in the United States, and F-series pickup trucks sell new cars in June.57,673 vehicles, up year on year.26.3%, but even so, it is difficult to hide the overall decline. Only new cars are sold from January to June.299,345 vehicles, a year-on-year decrease of 17.3%. If the overall downward trend cannot be reversed, the annual sales of Ford F-series pickups will probably fall below the 700,000 mark in 2022.The continuous decline in Ford’s sales has also reduced its lead over Chevrolet and Ram, only less than 40,000 vehicles ahead of the second place, and it may be surpassed with a little carelessness. To this end, Ford promptly followed up the electrification reform, and the F-150 Lightning has now won hundreds of thousands of orders.In the future, Ford will maintain its leading position through multi-dimensional development.

In June 2022, Chevrolet Sorod sold a new car.46,313 vehicles, a year-on-year decline.16.7%, selling new cars from January to June.261,827 vehicles, a year-on-year decline.10.1%, also in an endless decline. Chevrolet Sorod completed the update and change in September 2021, focusing onThe interior and configuration have been upgraded and alsoThe ZR2 cross-country performance version of Sorod was introduced.Make it more competitive in the face of the new Ford F-150 and the new Ram 1500. Chevrolet is also keenly aware of the fiery atmosphere of the current electric pickup market, which was released in January 2022.Silverado EV model,The new car is the second pure electric pickup truck product commonly launched after Hummer EV, and it is also built with the brand-new third-generation pure electric platform Ultium Autoenergy platform, which will provide ideas for the next stage upgrade and development of Chevrolet pickup truck models.

2021 is the highlight moment of Ram pickup.Not only is it a rare brand with year-on-year sales growth in the American market, but it also surpassed Chevrolet Sorod to become the second place. However, after entering 2022, Ram failed to resist the overall market decline. In the first half of the year, only 244,984 new cars were sold, down 21.7% compared with the same period of last year, making it the largest decline among the three American giants. Ram launched Ram TRX last year, which was enough to shake the status of the Raptor’s performance pickup truck, which made the Ford F-150 Raptor feel great pressure. Its first electric pickup truck Ram 1500 EV was also scheduled for 2024, which launched an all-round impact on Ford. However, the update speed and range of the conventional Ram 1500 model are obviously insufficient, and the Stellantis brand after integrated management needs to work harder on pickup trucks.

GMC Sierra and Chevrolet Sorod belong to GM.GMC, as a high-end luxury brand of GM, has always focused on top luxury routes, whether it is pickup trucks. Sierra pickupPreviously, it ranked fifth in the sales list all the year round, but this year it surpassed Toyota Tacoma.Sales in the first half of this year were118,938 vehicles, a year-on-year decline.14.1%。GMC SierraUshered in a new generation in October last year.In order to better fight against Ram 1500, it has been upgraded in all directions on the basis of the previous generation, and the top Denali Ultimate and AT4X versions that break through the previous generation have been introduced. GMC Sierra will also launch an electric version in the future, which is developed based on GM’s new Ulitum platform. The specific production time is tentatively set at around 2023.

ToyotaTacoma is the king of medium-sized pickup trucks in the United States, occupying the throne of the sales champion of medium-sized pickup trucks in the United States all the year round, with a sales volume of 108,648 in the first half of 2022.Car,It fell 22% year-on-year. Tacoma is the only "foreign" product that has achieved great success in the United States. It is more popular than its big brother, Toyota Tantu, and the car is currently in a replacement cycle. It is reported that the next generation model will share the R&D platform with 4Runner, brand-new Hilux, brand-new smooth road and brand-new land patrol, so that Toyota products can be better pushed to the global market, so it is not impossible if the new Tacoma production version of the real car is highly similar to the brand-new smooth road in the future. At the same time,Toyota recently announced its electrification development strategy, including an electric pickup truck product, which is supposed to be Tacoma electric version.

Toyota smooth road,Chevrolet Colorado,Nissan Frontier,Jeep gladiator,Ford Maverick,Several models of Ford Ranger constitute the third group. Among them, Toyota, after upgrading, has made remarkable progress. From January to June, it sold 44,316 new cars, up 1% year-on-year, which not only got rid of the previous continuous decline, but also rushed to the position of the leader of the third group. Chevrolet Colorado also has a good performance this year. Thanks to the renewed enthusiasm of consumers for small and medium-sized pickup trucks, the sales volume of the car reached 44,190 from January to June, up 13.7% year-on-year, and the growth rate in June reached 48.4%. Nissan Frontier has also been reborn due to changes in the market wind direction, with sales of 43,168 vehicles in the first half of the year, with a year-on-year increase of 63.6%.

As the saying goes, people’s joys and sorrows are not connected, so are car sales. At present, small and medium-sized pickup trucks have become a hot spot of consumption again. Jeep Gladiator sold 38,756 vehicles in the first half of the year, down 20.6% year-on-year. Perhaps it was abandoned by consumers because of its rich play attributes and low use value. FordMaverick, as a new compact product launched by Ford for market hotspots, well explains the importance of grasping the outlet. The sales volume of new cars in the first half of the year was 38,753, showing a relatively strong growth momentum, and it is expected to become an important sales pillar of Ford pickup trucks in the future. Ford Ranger, once the leader of the third group, fell to the end of the group this year, with sales of only 33,840 vehicles in the first half of the year, down 42% year-on-year. It seems that it will take time for the new Ranger to truly adapt to the American market.

At the bottom of the list isHonda Ridgeline,Modern Santa Cruz,GMC Canyon andNissan Titan, in which Honda Ridgeline’s sales in June this year increased by 5.5% year-on-year, but the cumulative sales from January to June are still in a state of decline; As a pure pickup truck, Hyundai Santa Cruz’s monthly sales are gradually increasing, even surpassing Nissan Titan and GMC Canyon；. GMC Canyon sold 13,662 vehicles in the first half of the year, up 9.4% year-on-year;Nissan Titan sold 11,212 new cars in the first half of the year, down 36.9% year-on-year. It is still in an endless decline. It is reported that Nissan is preparing to give up Titan pickup trucks and there will be no next-generation models.

In 2019, Tesla Cybertruck reshaped pickup products with its subversive design concept, which opened the prelude to competition in the field of electric pickup trucks. Subsequently, Ford F-150 Lightning, Hummer EV, Rivian R1T, Chevrolet Silverado EV and other heavy models came out one after another, which refreshed people’s understanding of electric vehicle products. At present, Hummer EV and Rivian R1T have officially entered the delivery link. Rivian R1T delivered 1,600 new cars in half a year, and Hummer EV delivered 90 vehicles. At present, all major electric pickup truck models have received huge orders, and the main reason that restricts their sales is that the delivery is delayed due to insufficient production capacity.

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

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

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

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

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

　　The gold of the times

　　"Sometimes Betrayal" and "Never misjudge. "

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

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

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

Source: Wind, open sourceresearch institute

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

　　The golden age

　　"Megatrend" and "Masterpiece"

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

　　In contrast, gold-related theme funds, such as gold stock ETF or gold ETF, provide a more convenient choice for market transactions, but when the market is hot, it is also necessary to maintain the principle of rational investment and avoid paying for high premiums.

　　However, no matter which variety you choose, you must pay attention to the position control when allocating gold. Gold is more suitable as a part of asset allocation rather than a heavy position or a single layout, and the usual position ratio is 5-10%.

　　As far as the current gold investment is concerned, perhaps the answer before investors is this:Moderately downplay the short-term trading value of gold, look for the opportunity to point gold in the shock, and explore the gold value in asset allocation from the perspective of long-term allocation.

　　(Article source: Huaxia Fund)

Machine heart report

Editor: Chen Ping, Du Wei

Have you ever seen a drone that can withstand a strong gust? Researchers at the California Institute of Technology use deep neural networks to make drones no longer afraid of the wind.

When the wind is strong enough to blow out the umbrella, the drone is steady, like this:

Flying against the wind is a part of air flight. On a large scale, when pilots land their planes, the wind speed may bring them challenges. On a small scale, gusts will also affect the flight of drones.

At present, drones either fly under controlled conditions and have no wind; Or operated by humans using a remote control. Unmanned aerial vehicles are controlled by researchers to fly in formation in the open sky, but these flights are usually carried out under ideal conditions and environments.

However, in order for UAVs to perform necessary but daily tasks autonomously, such as delivering packages, UAVs must be able to adapt to wind conditions in real time.

In order to make the UAV have better maneuverability when flying in the wind, a group of engineers from California Institute of Technology developed a deep neural network Neural-Fly, an artificial intelligence tool, which can keep the UAV agile in windy conditions, and only need to update some key parameters to help the UAV cope with new and unknown wind conditions in real time.

At the beginning of the article, we have seen the wind resistance of the UAV. The following shows a quadrotor UAV. With the help of the tool developed by this research, it can complete the figure-eight shuttle operation when the wind speed reaches 27 mph:

Watch the drone flying against the wind from another angle;

In order to allow the UAV to shuttle in various wind speeds, data is essential. This research needs little data. After obtaining the flight data in just 12 minutes, the automatic quadrotor UAV equipped with Neural-Fly learned how to respond to strong winds. "The amount of data used is very small," said Michael O’Connell, a graduate student in the Department of Aeronautics and Astronautics at California Institute of Technology and one of the authors of the paper.

The study was published in the journal Science Robotics on Wednesday.

Address: https://www.science.org/doi/10.1126/scirobotics.abm6597.

ArXiv Address: https://arxiv.org/pdf/2205.06908.pdf

In the Neural-Fly experimental training, the UAV flies in the wind tunnel with six different wind speeds, the fastest of which is 13.4 mph.

Based on these data, the team created a deep neural network, and then enabled their aircraft to skillfully maneuver in the same wind tunnel, such as enlarging the gate in a figure-of-eight pattern or cruising through two oval gates. The speed of the drone in the test is faster than it encountered in the training: about 27 miles per hour. This is the maximum wind speed that the wind tunnel can produce, pointed out Shi Guanya, the author of this paper and a graduate student of California Institute of Technology. Except that only a small amount of data is needed, the software only runs on Raspberry Pi, which is a cheap computing device.

Soon-Jo Chung, a professor of aerospace, control and dynamics systems at California Institute of Technology and a correspondent, said that the error rate they saw was 2.5 to 4 times better than that of the existing SOTA technology.

The picture below shows Shi Guanya, Soon-Jo Chung and Michael O’Connell from left to right. Congratulations, Shi Guanya will join the Robotics Institute of Computer College of Carnegie Mellon University as an assistant professor in September 2023.

The researchers said that this technology will be used for drone express delivery or flying cars in the future.

Overview of Neural-Fly technology

If unmanned aerial vehicle (UAV) wants to realize continuous commercialization, it is very important to perform safe and accurate flight maneuvers in dynamic high-speed wind. However, because the relationship between different wind conditions and their influence on the maneuverability of UAV have not been deeply studied, it is challenging to design an efficient robot controller using traditional control design methods.

"Neural-Fly" proposed by researchers of California Institute of Technology is a data-driven method. As a trajectory tracking controller based on deep learning, it can learn to adapt to rapidly changing wind conditions. Figure 3(A) below shows the data collection process; 3(B) When the wind speed is 13.3km/h (3.7m/s), input and label the training data; 3(C) is the distribution of input data and label data under different wind conditions.

On-line Adaptive+Off-line Meta-learning

Figure 2 below is an overview of the Neural-Fly method, which shows that it has made progress in adaptive flight control and robot control based on deep learning. Under the dynamic wind conditions of standard UAV, Neural-Fly can track the centimeter-level position error of flexible and challenging trajectory. Specifically, this method mainly consists of two parts, namely, offline learning stage and online adaptive control stage for real-time online learning.

For the off-line learning stage, the researchers developed Domain Adversarial Invariant Meta-learning (DAML), which learned the expression of deep neural network (DNN) which is independent of wind conditions in a data-efficient way. This representation adapts to different wind conditions by updating the linear coefficients of a set of mixed depth neural network outputs.

DAIML also has data efficiency, and only 12 minutes of flight data under six different wind conditions are used to train the deep neural network. DAIML contains several key features, which can not only improve data efficiency, but also provide information by the downstream online adaptive control stage.

It is worth noting that DAIML uses spectral normalization to control the Lipschitz property of deep neural network, so as to improve the generalization ability of unknown data and provide closed-loop stability and robustness. In addition, DAIML also uses discriminant network to ensure that the learned representation is wind-invariant, and the wind-related information is only included in the linear coefficient that adapts to the online control stage.

For the on-line adaptive control stage, researchers developed a regularized compound adaptive control law, which is based on the basic understanding of how the learned representation interacts with the closed-loop control system and has strict theoretical support.

Specifically, the adaptive law uses the combination of position tracking error term and aerodynamic prediction error term to update the linear coefficient related to wind. This method effectively ensures the stability and rapid adaptation to any wind conditions and the robustness to imperfect learning. Although this adaptive control law can be used with many learned models, the accurate representation learned from DAIML is helpful to further improve the adaptive speed.

experimental result

As far as the effect of Neural-Fly is concerned, it is 66% higher than that of nonlinear tracking controller, 42% higher than that of L_1 adaptive controller and 35% higher than that of incremental nonlinear dynamic inversion (INDI) controller. All these results are achieved by using standard quadrotor UAV hardware, and the default attitude control of PX4 is running at the same time.

The tracking performance of Neural-Fly is competitive even compared with related work without external wind interference and using more complicated hardware (such as on-board optical sensor that needs 10 times control frequency and uses DC motor speed feedback).

Table 1 below shows the error tracking statistics of different methods under different wind conditions.

The researchers compared Neural-Fly with two variants, namely Neural-Fly-Transfer and Neural-Fly-Constant. Among them, NF-Transfer uses representations trained from data of different UAVs, while NF-Constant only uses adaptive control laws with trivial non-learning basis.

Neural-Fly-Transfer shows the robustness to UAV configuration changes and model mismatch. NF-Constant, L_1 and INDI methods all directly adapt to unknown dynamics without assuming the underlying physical structure, and they have similar performance.

Finally, the researcher proves that Neural-Fly can realize a series of functions, allowing the UAV to follow the trajectory and fly over the low-altitude door quickly under the condition of strong wind, as shown in Figure 1 below.

Reference link:

https://www.science.org/doi/10.1126/scirobotics.abm6597

https://www.popsci.com/technology/neural-fly-ai-drone-in-wind/? THE END

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Original title: "Have you ever seen a drone that can hold strong winds? Caltech teaches drones to fly against the wind with 12 minutes of flight data.

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If we go back to 2003, no one can predict how much weight the Post Bar born in that year will occupy in Baidu’s territory. However, in the next 12 years, Baidu Post Bar has steadily and steadily become an important position with a huge number of users and occupying the only social product in Baidu’s entire product system. The various attempts of the business model of Post Bar can also be regarded as a microcosm of the commercialization exploration of China’s online social platform.

From the original forums, Blog, SNS, alumni records, Renren. com, and the rise of Weibo and WeChat in recent years, the wave of social platforms has changed. Many products that once resounded across the country can only survive or even disappear, but the post bar is enduring. The huge user scale, coupled with multi-dimensional and highly segmented groups such as interest, region and identity attributes, makes Post Bar with huge traffic and massive precipitation content become a "gold mine" with great potential.

But even with "the right time, the right place and the right people", Baidu Post Bar has always been alert and cautious, committed to finding the best balance between user experience and commercialization, and slowly carried out various attempts to adjust its own rhythm.

The commercial potential of the post bar detonated by the draft of Xiao He Lou Jiao twelve years ago

In 2003, as the forum (discussion area) began to gradually transfer from four portals to Tianya, Xici, Maopu and other websites, the concept of Blog was still in the initial stage of brewing. Baidu seized this good opportunity to create Baidu Post Bar, which not only enriched the content results of Baidu search engine, but also helped Post Bar quickly accumulate initial users with the help of the long tail effect of search.

During this period, the whole Internet form began to move from the 1.0 era of one-way communication to the 2.0 era of two-way interaction, and the interaction desire of young netizens that had been suppressed for a long time was stimulated intensively, and the product form of Baidu Post Bar just effectively filled this user demand, so it quickly gathered a very high platform popularity.

In 2005, the "Super Girl" draft held by Hunan Satellite TV showed people the power of fans, and also let Post Bar taste the dividend of fan culture. A large number of fans gathered in the super girls’ post bar and had a heated discussion for a long time. Alexa data at that time showed that with the help of Baidu Post Bar, Baidu’s traffic surpassed Sina in one fell swoop and became the largest Chinese website in the world. The first appearance of fan power made people inside and outside the industry smell the great commercial value lurking in Post Bar. However, because the online marketing model was relatively simple at that time, Post Bar did not rush to pursue profit speed, but put the depth of cultivating platform in the first place.

Leverage the Olympic Post Bar to test fan marketing.

Since 2008, the Internet in China has entered the golden age of rapid development. The surge in the number of netizens and the emergence of mobile Internet have spawned various online marketing models. Baidu Post Bar, which has a huge user scale and huge traffic advantages, has also begun to explore the diversified direction of commercialization.

During the Beijing Olympic Games, Baidu Post Bar cooperated with Adidas, Yili and other first-line brands to plan a series of marketing activities, and introduced the Olympic enthusiasm of netizens into the Post Bar. The marketing of this big event successfully attracted a large number of bar friends to participate.

In 2009, Baidu Lighthouse, the first interactive marketing product in China, was officially launched, focusing on tapping the precise marketing value of Post Bar.

In 2010, the launch of "Post Bar Mall" made it possible to realize social traffic. Props, value-added applications, personalized services, etc. made Post Bar earn C-end income, and at the same time, it greatly promoted the activity of Post Bar and improved the user system.

During the London Olympic Games in 2012, Baidu Post Bar became the main battlefield of online Olympic marketing. Taking Coca-Cola as an example, it selected 30 post bars including Sun Yang Bar, Chen Yibing Bar, Liu Xiang Bar and Gymnastics Bar, and posted in the selected post bars through official accounts to cheer for Olympic athletes, and naturally implanted interactive activities with specific themes to promote and solidify its brand. The promotion of Coca-Cola in the Post Bar has covered more than 10 million people, the brand has been displayed as high as 30 million times, and the video has been played 100,000 times. At that time, Weibo was in full swing, and some even declared it as "the pulse of the earth", but advertisers did not dare to ignore Baidu Post Bar. The deep interaction among users of Post Bar can quickly touch, transform and expand the fan base, forming an ecological closed loop of multi-directional, in-depth, efficient and self-growing fan marketing, which is the core advantage that Weibo platform does not have.

Looking back on the period from 2008 to 2013, it was the adolescence of Internet in China. The characteristics of active but restless users not only increased the commercialization opportunities, but also brought greater challenges to the realization of traffic. Fortunately, Baidu Post Bar’s several attempts have not only failed to drain users, but also gained great recognition, especially the cooperation activities during the two Olympic Games have become classic online marketing cases.

Force community fan marketing to dig deep into the value of post bar platform

2014 seems unremarkable, but there are two figures that make this year destined to go down in the history of Internet development in China.

In this year, Internet users in China approached half of the total population for the first time, and the scale of mobile phone users surpassed PC users for the first time. Because of this, the commercial focus of China has also shifted from offline to online, and enterprises have entered an era that needs in-depth communication with consumers. Some people therefore call 2014 the beginning of the Internet 3.0 era. In this context, the commercialization process of Baidu Post Bar began to rapidly enter the rising channel.

In July 2014, Baidu Post Bar announced the official launch of the enterprise platform strategy, and established a fan community for enterprises, institutions, media and other partners by opening the official post bar. This move attracted many powerful enterprises in the media, technology, finance and other industries to settle in. Mobile phone brands such as Meizu and Xiaomi regard the official bar as the most important marketing position.

For vertical industries with broader themes such as "beauty" and "education", Baidu launched the "Post Bar Partner" model in 2015, which opened the operation rights of vertical post bars to partners, provided more professional services for users of related bars, and also expanded its own profit model.

With the help of 100,000 stars and 300 million fans, Baidu Post Bar built the brand of Post Bar Entertainment, which quickly entered the film marketing industry in 2015, making Baidu Post Bar one of the most important film and television marketing platforms. The Nine-story Demon Tower with Ghost Blowing Lights jumped to glutinous rice through the related star bar header, and about 200,000 tickets were issued. Popular variety shows such as Running Man have been deeply interacting with fans in the post bar for a long time. IP-adapted writers of popular online literature such as "God of Heaven" and "Who’s Youth is Not Confused" have all held huge casting activities in their respective post bars, and achieved good results.

The longevity of post bar comes from the youthfulness of core users. According to the data, more than 60% of the 12-year-old Baidu Post Bar’s active users in 300 million months are post-90s. They grew up in the Internet age and are deep Internet users. Among them, 80% of users’ behaviors come from the mobile terminal. Post Bar users not only have strong spending power, but also are generally willing to accept new things. These user characteristics are the natural advantages of Post Bar itself. Throughout the commercialization process of Post Bar, every attempt is centered on the experience of these users, keeping up with the development trend of the Internet, and adapting to the changing rhythm of consumer behavior to the greatest extent. After a series of explorations, the gap between commercialization and users is gradually bridged by Post Bar.

For the Internet social platform, realizing traffic is both a paradise and a hell. If you are not careful, it will slide to the bottom. Along the way, Baidu Post Bar finally crossed the threshold of realizing with the mentality of taking the Long March. This year marks the 12th anniversary of Baidu Post Bar. In the traditional calendar of China, 12 years is the end of a cycle and a new beginning. As the Internet goes deeper and deeper into people’s lives, the prospect of achieving a win-win situation in products and business is more and more promising.