Behind the high "AI" content financial reports released by Microsoft, Google and AMD: Q4, the leader of A-share multi-modal AI model, saw its net profit increase by more than 23 times from the previou

Cailian News on February 4th (edited by Xuri)The AI ​ ​ arms race that has been raging for a whole year has ushered in the year-end exam.Technology giants such as Microsoft, Google and AMD have handed in their latest quarterly financial reports this week.. As the top five core cloud vendors in the world, Microsoft and Google have been secretly competing. The financial report shows that Microsoft’s revenue in the second fiscal quarter of fiscal year 2024 was 62 billion US dollars, an increase of 18% year-on-year; Net profit was $21.9 billion, a year-on-year increase of 33%. In comparison, Google’s revenue in this quarter was $86.3 billion.The year-on-year growth rate of 13% is slightly lower than that of Microsoft..

In the core cloud business,Microsoft’s revenue in intelligent cloud in the second fiscal quarter was $25.9 billion, a year-on-year increase of 20%.It still has the best growth rate in Microsoft’s three core business units. Google’s cloud business earned $9.2 billion in the quarter, a year-on-year increase of 26%. Some analysts pointed out that,Google used to be the leader of AI, but now it is being surpassed by Microsoft.. Microsoft’s "cloud-software -AI" three major businesses are growing in rotation and interlocking. Google’s current AI strategy is in a dilemma, and advertising and cloud services are fighting each other.

On the other hand, AMD, which has been fighting with NVIDIA for a long time, also released the latest financial report. The financial report shows that AMD’s revenue in the fourth quarter was $6.17 billion, slightly higher than analysts’ expectations of $6.13 billion.Sales of data centers (including AI server chips) increased by 38% year-on-year to $2.28 billion.. Lisa su, chairman and CEO of AMD, said in a conference call recently,It is estimated that the company’s sales of artificial intelligence chips (MI300) will reach $3.5 billion in 2024.Higher than the previous forecast of $2 billion.

▌ The performance of the "Hundred Models War" went to the second half: half of the AI ​ ​ big model manufacturers’ annual reports were pre-earned, and the net profit of Iflytek Q4 was the highest, which was 23 times higher than that of the previous month. Yuncong Technology’s share price fell by over 70%.

Analysts pointed out that compared with Microsoft’s product business release rhythm in AI and big model, Google’s product business layout is backward everywhere. Google’s challenge to GPT-4′ s multi-modal large model Gemini was officially launched in December, nine months later than the former. Some analysts said that the result of this isIn 2023, Google Cloud didn’t get much computing bonus brought by the model..

Some insiders pointed out that AI model manufacturers will face fierce competition and elimination in 2024.Only 10 enterprises will play an important role in the future.. With the continuous disclosure of the A-share 2023 annual report,The performance of the whole industry has been divided.It also seems to verify the above conjecture. Previously, in the "Hundred Models War" started by ChatGPT in the domestic market, the performance of A-share players such as Iflytek, Sanliuluo and Kunlun Wanwei in the first half of last year was disappointing, but after the AI ​ ​ big model came to the second half,Many listed companies have tasted the "sweetness" of the AI ​ ​ big model.

According to Choice statistics, as of press time,Twenty multi-modal AI model listed companies, including Dahua, Hang Seng Electronics, Iflytek, Jihong, Shengshi Technology, vision china, Chinese Online, Yunding Technology, Yijiahe, Tuoersi, Jingyeda, Xuan Ya International, Netda Software, Zhongke Jincai, Danghong Technology, Lisheng Sports, Suzhou Keda, 360, Yuncong Technology and Tomcat, have released annual report forecasts.Among them, 11 listed companies have pre-earned annual reports.The top three rankings of the maximum net profit of returning to the mother are Dahua, Hang Seng Electronics and Iflytek., the details are as follows:

Specifically, Iflytek, the first echelon of the domestic big model, achieved a net profit of 99.3621 million yuan in the first three quarters of last year, down 76.36% year-on-year. However, the company Q4 is expected to realize a net profit of 545-630 million yuan.The chain increased by 2013%-2342%. In the announcement, the company said that it will continue to invest in the "iFLYTEK Spark Cognitive Model" and keep ahead of the industry. In addition, Iflytek released the first nationwide open model "iFLYTEK Spark V3.5" based on national productivity training on Tuesday.In language understanding and mathematics ability, it surpasses GPT-4 Turbo, the code reaches 96% of GPT-4 Turbo, and the multimodal understanding reaches 91% of GPT-4 V..

On the other side,360, Yuncong Technology, Tomcat and other established AI model manufacturers’ annual report performance forecasts are still at a loss.. As for the reasons for the loss of performance, 360 said in the forecast of the annual report,The estimated loss of this year’s performance is mainly affected by investment gains and losses and caused by large losses of some joint ventures.. Tom Cat said in the announcement that during the reporting period, the company continued to increase the research and development of new products. At present, the company has reserved a number of products with new gameplay and new models such as My Hank Dog: Island and Jinjie Cat’s Playground, as well as AI application products such as Tom Cat AI Storytelling and Talking Ben AI.

In the secondary market, the share prices of most AI model listed companies are still "deeply mired". Although Iflytek relied on Q4′ s performance, the company’s share price recorded a daily limit the day after the announcement of the annual report.However, the cumulative maximum decline since the historical high in June 2023 has reached 54%..

Looking at it for a long time, the share price of 360Since the peak in April 2023, the cumulative maximum decline has reached 68%., Yuncong Technology Share PriceSince the historical high in April 2023, the cumulative maximum decline has reached 75%..

▌AMD overweight investment in AI chips against the performance of A-share listed companies in NVIDIA industrial chain "mixed". The share price of Xinyuan shares fell by more than 70%

With the outbreak of AI big model, the demand for AI chips is rising, and global technology companies are competing to buy NVIDIA GPU. NVIDIA closed up more than 4% on Friday,Once again hit a record high.. As an old rival of NVIDIA, AMD’s share price rose more than 4% on Friday.Approaching historical highs. The company launched a series of artificial intelligence accelerators named MI300 last month. This chip helps companies develop artificial intelligence models through a large amount of data. CEO lisa su said,Sales of artificial intelligence chips in the fourth quarter exceeded the expected $400 million..

According to industry insiders,AMD industrial chain is expected to reproduce the hot market in NVIDIA.. Soochow securities Wang Pingyang pointed out that in the AMD industrial chain, chip foundry is mainly completed by TSMC and Grofonde (mainly responsible for the 14/12nm process); Jiance Precision, Xiangshuo Technology, Samsung Electric, Japan Yifei Electric Co., Ltd. and Shenghong Technology mainly provide AMD with electronic components such as interface chips, heat dissipation materials and PCB boards; Tongfu Microelectronics, TSMC and Silicon Products provide sealing and testing services for AMD. In addition, according to incomplete statistics of Cailian, listed companies that have cooperation or business dealings with AMDIncluding CLP Port, Xinyuan, Haiguang Information, Jingwang Electronics, Tongfu Microelectronics, Aoshikang, Yibo Technology and Shenghong Technology.. (For details, please refer to the previous in-depth report of Cailian.AMD pursues NVIDIA in an all-round way with the "ultimate weapon" MI300 chip! List of listed companies benefiting from industrial chain ")

Judging from the performance forecast of the recently released annual report,The performance of listed companies in AMD industrial chain is "mixed". Among them, Xinyuan Co., Ltd. has a pre-loss of 272 million yuan to 298 million yuan in 2023. As the largest packaging and testing supplier of AMD, Tongfu Microelectronics.In 2023, the highest net profit will drop by over 70%..

It is worth mentioning that many semiconductor listed companies are still optimistic about the future demand of AI chips. Tongfu Microelectronics said in the latest annual report that the company actively promoted the market-oriented application of Chiplet.Take orders for computing chips and realize mass production on a large scale.. The performance in the second half of 2023 was significantly improved compared with the performance in the first half of 2023, turning losses into profits. Wei Zhejia, president of TSMC, pointed out at the legal person briefing that the demand for advanced packaging of artificial intelligence (AI) chips continues to be strong, and the current production capacity cannot meet the needs of customers.The shortage of supply may continue until 2025..

However, some analysts pointed out that the AI craze may have masked the fact that the actual demand for semiconductors has declined. In the past year,Only a few companies benefit from the demand for AI chips, and most semiconductor companies still face the dilemma of overstocked inventory and sluggish demand.. Core original shares also said in the annual report forecast that in 2023, the global semiconductor industry will face severe challenges and the overall market demand will slow down.

Looking at the performance of the secondary market, SMIC shares in AMD industrial chainIt hit a record low in intraday trading on Friday.Take a long time to look at the stock price.Since the peak in April 2023, the cumulative maximum decline has reached 73%..

(Cailian Xuri)
Reporting/feedback

The recruitment order for the capital science star operation is coming! Go to the starry sea of science communication together!

The assembly number of science communicators blows! The recruitment of students for the "2025 Capital Popular Science Star Action" of Beijing Association for Science and Technology has now started!

High-end tutor team, popular science coffee gathering, professional curriculum system to cultivate high-level popular science talents!

Whether you are a pioneer in scientific research, a master in laboratory, a popular science blogger, or a pure science communication enthusiast, there are all your bright star tracks here! We are ready, waiting for you to join us!

Operation Star informs https://www.bast.net.cn/art/2025/4/25/art_31266_27947.html.

Registration link http://61.48.81.110:18080/#/login

Source: Beijing Science Popularization Development and Research Center

What does it mean to repeat "blocking and blocking" and "people follow the crowd"-taking stock of the eight-day Mid-Autumn Festival holiday on National Day

  Xinhua News Agency, Beijing, October 9 th: What does it mean to repeat "blocking and blocking" and "people follow the crowd" — — Take stock of the eight-day National Day Mid-Autumn Festival holiday

  Xinhua News Agency "Xinhua Viewpoint" reporter

  If the highway reappears "blocking and blocking" and the tourist attractions return to "people following the crowd", we can not fully sum up the just-concluded Mid-Autumn Festival and National Day, then we can add a set of data: 637 million domestic trips, and the sales of national retail and catering key monitoring enterprises are about 1.6 trillion yuan … …

  Popularity and consumption power far exceed expectations, and new and upgraded market trends are constantly emerging. The stories that happened this holiday are not only related to the successful experience of epidemic prevention and control in China, but also reflect the importance of China’s economic recovery and smooth domestic circulation.

  Festivals: The activities highlight the celebration of home and country, and the red theme and Mid-Autumn Festival tradition are deeply rooted in the hearts of the people.

(Xinhua all-media headlines and graphic interaction) (8) Mobile China reflects the new atmosphere of recovery — — Perspective of "Eleventh" Golden Week

  At the National Day special event held by Chaoyang District Cultural Center in Beijing, guests took photos with the national flag (photo taken on October 1). Xinhua News Agency reporter Jin Liangkuai photo

  The two festivals coincide to celebrate the whole country, and various red theme activities have been launched in various places to sing the main theme of "I and my motherland".

  On October 1st, bright national flags were raised all over Ran Ran, reflecting people’s solemn and dignified faces. Zhang Dingyu, president of Wuhan Jinyintan Hospital, led the medical staff to sing the national anthem.

  From Wuhan to Changsha, from Liaoning to Xinjiang, various places have launched "flash mob" activities to present the 71st birthday of New China. In the grasslands of northern Xinjiang, festive songs ring and Ma Touqin sounds convey people’s blessings; In Baoding, Hebei Province, tens of thousands of people visited the Revolutionary Memorial Hall in the Shanxi-Chahar-Hebei Border Region to receive revolutionary traditional education and patriotic education.

  According to the report released by Donkey Mama Travel Network, the number of red tourists has increased greatly. Especially in the two days before the holiday, the number of red tourism-related consultations and reservations has increased by more than three times compared with this year’s Dragon Boat Festival holiday.

  In addition, this year’s National Day movies, such as My People My Homeland and Leap, are based on the theme of homesickness and love for the motherland. Ming Zhenjiang, chairman of the China Film Producers Association, said that these works embody the national spirit and patriotism.

  Epidemic prevention and control: safety measures permeate all links, and the key words are quota, appointment, peak shift and mask.

(Society) (1) Wuhan: Hankou Railway Station ushered in the peak of return passenger flow

  On October 8, passengers stopped at Hankou Railway Station. On the last day of the "Eleventh" Golden Week holiday, Hankou Railway Station in Wuhan ushered in the peak of passenger flow, and it is estimated that 80,000 passengers will be sent on that day. Hankou Railway Station strengthens epidemic prevention work such as scanning health code, taking temperature and keeping a safe distance for inbound passengers, and increases the frequency of disinfection in the station to ensure passengers’ safe travel. Xinhua News Agency reporter Xiao Yijiu photo

  The reporter learned that during the "Eleventh" period, the relevant requirements for epidemic prevention and control were strictly implemented throughout the country, and there were no new confirmed cases in China.

  "Limited quantity, reservation and peak shifting" has become the standard of tourist attractions around the country. Sichuan continues to implement the "three more and two more" measures in various cultural and tourist sites, that is, more staff, more entrances, more detection points, evacuation places and isolation places, so as to ensure that there are enough staff to maintain the order at the site and improve the service quality.

  This holiday, a large number of collective appearances, major theaters are insisting on epidemic prevention work. In a cinema in Beijing, the reporter saw that the audience queuing in front of the ticket vending machine wore masks and consciously kept their distance; Viewers watching 3D movies need to buy their own 3D glasses, which cannot be reused. After the film, the staff will clean and disinfect the cinema immediately.

  Although epidemic prevention is a standardized operation, the management details reveal flexibility and warmth. Recently, Wuxi Railway Station has specially opened a service channel for passengers who use old man-machine and have no WeChat or mobile phone, that is, they can’t show their health codes, which has attracted many netizens’ praise.

  Travel: Multi-site high-speed reappearance of "blocking and blocking"

(Xinhua all-media headlines and graphic interaction) (1) Mobile China reflects the new atmosphere of recovery — — Perspective of "Eleventh" Golden Week

  A Fuxing high-speed train passed the Juyongguan Great Wall from Beijing-Zhangjia high-speed railway (photo taken on October 6). Xinhua News Agency reporter Yan Huanzong photo

  Although we are still cautious about epidemic prevention and control, people’s enthusiasm for traveling during the holidays can be called "fiery". The reporter learned from the Ministry of Transport that from October 1 to 8, the national railways, highways, waterways and civil aviation sent 62.115 million passengers every day.

  "I have been squatting for half a year, knowing that I may encounter congestion and I must go out." Many interviewees said. According to the relevant person in charge of the Ministry of Transport, during the holiday period, the demand for people to return home to visit relatives and travel is relatively strong, and the road passenger traffic volume has increased significantly compared with that before the holiday.

  A prominent feature of holiday traffic is that the passenger flow is obviously diverted to private cars and railways due to the superposition of factors such as the epidemic situation in COVID-19, free highway traffic and relatively sufficient railway (high-speed rail) transportation capacity. Long-lost vehicle "blocking" scenes have reappeared.

  The news of "Highway Traffic Congestion" continues to be on the list of online hot searches, and many people have exposed pictures and videos of "traffic jams and long queues" and "people are blocking the road in various funny ways" on social platforms.

  Some netizens laughed at themselves humorously and stayed out of the city for a night. "I watched a sunrise on the highway by the way." Some get off the bus during traffic jams, walk the dog and play the piano … …

  The "2020 National Day Travel Report" released by Gaode Map shows that from October 1 to 7, the proportion of national high-speed congestion mileage increased by 66% year-on-year. Guangdong-Hong Kong-Macao Greater Bay Area has the highest degree of expressway congestion, followed by the Yangtze River Delta, and Chengdu-Chongqing and Beijing-Tianjin-Hebei regions rank third and fourth respectively.

  Tourism: the scenic spot repeats "people follow the crowd", and the situation of upgrading leisure tourism is obvious.

(Xinhua all-media headlines and graphic interaction) (5) Mobile China reflects the new atmosphere of recovery — — Perspective of "Eleventh" Golden Week

  People watch the light show on the Bund in Shanghai (photo taken on October 5). Xinhua News Agency reporter Wang Xiang photo

  During the two festivals, tourists from many scenic spots were "bursting" and staged a scene of "people following the crowd". According to china tourism academy (Data Center of the Ministry of Culture and Tourism), during the eight-day holiday, the country received 637 million domestic tourists, a year-on-year recovery of 79.0% according to comparable caliber; Domestic tourism revenue reached 466.56 billion yuan, a year-on-year recovery of 69.9% according to comparable caliber.

  Many people still choose traditional hot spots during limited holidays. The data shows that traditional popular scenic spots such as Huangshan, Zhangjiajie and Emei Mountain are still popular destinations for people to travel. The total number of tourists in popular areas such as Beijing, Shanghai, Guizhou and Shaanxi is about 226 million, accounting for about one-third of the total number of visitors in the country.

  The recovery of tourism is nothing more convincing than the strong popularity of Hubei scenic spots. It is reported that 30 key scenic spots in Hubei have received a total of 2,071,100 tourists, achieving a comprehensive tourism income of 205 million yuan. The Yellow Crane Tower ranks first in the popularity of domestic scenic spots, and the Wuhan Sports Center, once a shelter hospital, has resumed its opening to the outside world, and the sports venues are all full.

(Xinhua all-media headlines and graphic interaction) (3) Mobile China reflects the new atmosphere of recovery — — Perspective of "Eleventh" Golden Week

  Tourists visit the Changqiao Scenic Area of West Lake in Hangzhou (photo taken on October 1). Xinhua News Agency (photo by Jianghan)

  It is worth noting that during the holidays, the tourism market, which is obviously warming up, obviously shows the trend of consumption upgrading, and personality and quality have become important demands of tourists.

  Ctrip released the Mid-Autumn National Day Holiday Tourism Big Data Report, which shows that the domestic tour has turned into a leisure holiday, and the in-depth tour, go on road trip tour and customized tour are more "hot". During the holidays, the number of people renting cars in go on road trip and their consumption reached a record. The number of car rentals increased by 50% compared with last year, and private groups increased by 100%.

  In addition, in previous years, every holiday, tourists often complained about some businesses’ unreasonable price increases and "black tour guide" cheat people’s harm to consumers’ rights and interests, but this year, such cases have been greatly reduced. Experts said that this is the result of strict management and strengthened governance in scenic spots around the country.

  Consumption: The average daily sales exceeded last year’s "Eleventh" Golden Week, and the sinking of online consumption, new consumer groups and digital life attracted people’s attention.

  During the long holiday, the trend of consumption recovery is prominent. According to the monitoring of the Ministry of Commerce, from October 1 to 8, the sales of key monitoring enterprises in retail and catering nationwide was about 1.6 trillion yuan, and the average daily sales increased by 4.9% compared with last year’s "Eleventh" Golden Week. Seven days before the holiday, the box office of movies was nearly 3.7 billion yuan, ranking second in the National Day box office over the years.

  Bright data cannot be separated from multi-departmental and local policy assistance. Various localities have organized a series of activities of "Consumption Promotion Month" in depth, launched measures such as benefiting the people and making profits, and generously distributed subsidies and coupons for automobiles, home appliances, catering and other products. Beijing takes "national tide, domestic products, national wind and national rhyme" as the main line to promote consumption, Shaanxi organizes nearly 2,000 commercial and trade circulation enterprises and holds more than 60 large-scale consumption promotion activities, and Changsha "Night Star City" consumption festival has nearly 10,000 enterprises, driving sales to increase by nearly 30% year-on-year.

  Tourists are enthusiastic about "buying in buy buy". Duty-free shopping in Hainan’s outlying islands is extremely active, attracting consumption abroad to return. Seven days before the Golden Week, the retail sales of four duty-free shops in Haikou, Sanya and Qionghai increased by 167% year-on-year, and the number of duty-free shoppers increased by 64% year-on-year.

(Graphic interaction) (6) Hainan's tax-free sales on outlying islands "double festival" broke 1 billion yuan in 8 days.

  Consumers buy goods at Haikou Riyue Plaza Duty Free Shop (photo taken on October 4). Xinhua News Agency reporter Pu Xiaoxu photo

  The consumption of catering, leisure and other services is also heating up rapidly. The traffic of some old restaurants in Sichuan and online celebrity increased by 10% to 20% year-on-year. The number of food and beverage orders in Guangzhou increased by over 30% year-on-year. According to the Living Consumption Report of the 2020 "Eleventh" Long Holiday released by Meituan, the consumption at night increased in an all-round way four days before the "Eleventh" long holiday, and the consumption at night catering increased by more than 30% compared with last year’s "Eleventh" holiday.

  Some new market trends are eye-catching:

  — — New consumption, such as online shopping, live broadcast with goods, online ordering and customized travel, has been growing vigorously during the Golden Week. Liaoning catering retail enterprises account for more than 20% of online consumption through live offline drainage and online platform streaming. The volume of new consumer orders, such as escape from the secret room, VR games and Hanfu experience, on large-scale online platforms increased by 58% year-on-year.

  — — The rise of "post-95" and 60-year-old consumer groups.

  According to the latest "Alibaba 2020" Eleventh "Holiday Consumption Travel Trend Report", "post-95" has become the main force of National Day travel for the first time, accounting for 30%, ranking first.

  In the field of digital life services, although the main user groups are young people, two age groups, one old and one young, are also emerging. According to the report of Meituan, during the "Eleventh" period, users under the age of 20 and users over the age of 60 of Meituan App grew the fastest, with the number of users over the age of 60 increasing by over 80% and users under the age of 20 increasing by 65.3%.

  — — Digital life sinks.

  Digital life service is infiltrating from big cities to small and medium-sized cities. The data shows that during the "Eleventh" period, the order volume of Meituan in fifth-tier cities increased the highest compared with last year, up by 29%, followed by the growth of 23% in fourth-tier cities. (Reporter Song Jia, Shu Jing, Yu Junjie, Xie Xiyao, Wei Yukun, Wang Yuxiao, Bai Ying)

The screening of "Animal Secret Service" was well received, and the special effects were vivid and the hair was clearly visible.


1905 movie network news Recently, the film started the fourth round of advance screening, and many parent-child families celebrated the New Year together in the cinema to enjoy this adventure story about courage, justice and friendship in advance. At the movie-watching scene, the funny and hilarious plot made the children laugh constantly and won numerous praises.

 

The popularity of the national screening has warmed up. The Animal Secret Service has been included in the list of "must-see for winter vacation"


So far, the Animal Secret Service has been opened one after another.More than a thousand national advanced screening, word of mouth continues to heat up. Many highlights of the film, such as the ups and downs of adventure plot, interesting animals with full brains, and the natural attributes of entertaining and entertaining, are quite in line with the holiday atmosphere and are listed as a must-see choice for many parent-child audiences during the winter vacation.



The most reversed plot in the movie is the villain that runs through the whole movie.At the moment when the identity of "Ice Devil" was exposed, simple and lovely children were moved by this scene and understood the environmental protection core of the film "Pay attention to the ecological environment of the earth and protect animal diversity".


After the screening, even children’s brains were wide open, saying that the global temperature was rising, and polar bears almost had no place to live. I hope that ice launchers can be used to prevent icebergs from melting and protect them. Parents have been sprouted by children’s "children’s talk", indicating that movies not only make children grow up happily in adventure, but also convey the environmental protection concept of protecting species diversity. This subtle value implantation is a clever way of entertaining and entertaining.


 

The brand-new "cat and mouse partner" strength circle powder cute baby enters the world of exotic animals


The "cat-and-mouse partnership" in Animal Secret Service broke through the inherent hostile image and turned into a pair of cat-and-mouse brothers who put aside prejudice and saw the truth in adversity."spy cat"Zhang Dawei and"A Qiu", the hacker mouse, was involved in a shocking conspiracy while performing his task.


This pair of cat and mouse partners in the halfway combination have different personalities. Zhang Dawei is brave, witty, cold and arrogant; A Qiu often makes a fool of himself, but he is a master hacker. He can always help Zhang Dawei at the critical moment. In the battle against the ultimate BOSS "Ice Devil", A Qiu even risked his life to stand in front of Zhang Dawei. This highlight moment of cat-and-mouse friendship touched many audiences.


There are also many anthropomorphic animal characters in the film that are full of whimsy and funny, such as the salty and sweet rabbit woman, the eye-catching four-eyed spider, and the powerful bee baby … more than 40 species and more than 90 animal characters, which can be called cartoon movies.The largest number of animals in history.

 

In addition, the CG animation of Animal Secret Service is even more eye-catching. Every hair of Zhang Dawei is clearly visible, and even extinct animals such as peas and mammoths are vividly restored to the big screen. Parents have said that this film provides a new way of education. Compared with the past, children can only be taken to zoos and museums to learn about animals, and it is also a good choice to accompany children into the cinema to gain growth.

When the rainstorm strikes, we will gather together to defend our homeland-a panoramic scan of the first line of flood control and disaster relief in Shenzhen

  Xinhua News Agency, Shenzhen, September 8th (Reporter Simomo, Mao Siqian, Bai Yu) … … From the evening of the 7th to the morning of the 8th, there was an extremely heavy rainstorm in Shenzhen, and the whole city mobilized urgently to carry out rescue work to ensure the safety of citizens’ lives and property to the maximum extent and reduce losses.

  Many roads have accumulated water, cars have been soaked in water, and floods have flooded into the community … … In the face of the disaster, many districts in Shenzhen started the first-level response mechanism for flood control at the first time, set up on-site headquarters, and organized emergency departments, water affairs, housing construction, urban management, public security, fire protection and other departments and streets in the districts to fully carry out rescue work.

  On September 7, the fire rescue personnel of Shenzhen Fire Rescue Detachment helped the citizens to move in the area with serious water accumulation in Yulong Road, Longgang District, Shenzhen. Xinhua News Agency (photo by Wei Weijia)

  In the rainstorm on the evening of the 7th, there were flash floods and mudslides on the Panshan Highway in Wutong Mountain, the highest peak in Shenzhen, and 11 people were trapped on the mountainside. The 13th Squadron of the Second Detachment of the Guangdong Armed Police Corps climbed over the mountains, broke the roadblocks at the landslide and successfully transferred them to a safe place. At about 4 am on the 8th, 22 people were trapped in Binhe New Village, Futian District, including 10 blind people. The water search and rescue team of Shenzhen Public Welfare Rescue Team immediately dispatched after receiving help and successfully rescued all the trapped people.

  On the evening of the 7th, Dong Shuang, a firefighter from Luohu Fire Rescue Station of Luohu District Fire Rescue Brigade, who was originally on vacation, received a notice from the team that all the people in Shenzhen returned to the team urgently due to the rainstorm. He and his teammates rushed to Xindu Hotel in Nanhu Street of Luohu District that night to rescue two staff members trapped in the warehouse on the first floor.

  "If the mobile phone can’t contact the two people, we will locate their position by tapping the ground. First, we will dig a small hole to understand their state, send them relief supplies, and make spiritual appeasement, and then slowly expand the hole to save them." Dong Shuang introduced that two trapped people were successfully rescued at about 5: 40 am on the 8 th.

  According to the data, from 18: 00 on September 7th to 6: 00 on September 8th, Shenzhen Firefighters dispatched 3,927 firefighters, 721 fire rescue vehicles and 80 boats to rescue more than 500 people trapped, and transferred more than 1,300 people. At the same time, Shenzhen Public Welfare Rescue Team, Blue Sky Rescue Team and other major rescue forces successively went to the front line to rescue the trapped people.

  According to the report of Shenzhen Meteorological Observatory, this torrential rain has the characteristics of "super intensity, long duration and wide range of heavy rainfall". As of 15: 00 on the 8 th, it broke seven historical extremes since Shenzhen had meteorological records in 1952.

  Due to continuous rainfall, the water level of Shenzhen reservoir is close to the flood limit level, and flood discharge began at 0: 15 on the 8 th, with a flow rate of 70-80 cubic meters per second; At 3: 15, the flood discharge was adjusted to 120 cubic meters per second.

  In addition, various departments in Shenzhen mobilized all kinds of resources to fully carry out emergency rescue. District civil affairs departments, street offices, community work agencies, rescue management agencies and charity supermarkets can help provide physical assistance such as clothing, food and drinking water; Citizens who can’t return to their homes due to heavy rain can go to the rescue management agencies at all levels in the city, and the rescue management agencies will provide temporary accommodation and provide food and life care. The relevant person in charge of the Shenzhen Civil Affairs Bureau said that citizens can apply for temporary assistance to the sub-district office within three months from the date of difficulties.

  On September 8, people traveled in the rainstorm. Xinhua News Agency reporter Liang Xushe

  In addition to government departments, many enterprises and people also consciously carry out support work. In order to ensure the delivery safety of takeaway riders, the takeaway platform quickly launched a special weather response plan, and took measures such as overtime exemption, extending the delivery time and narrowing the delivery scope.

  In the storm, many parties have joined forces and actively participated in personnel search and rescue, inspection and inspection, and distribution of living materials.

Xiaomi Auto SU7 will be listed soon. Lei Jun sent an invitation to buy a car to the "ecological circle" executives with F code.

K diagram 01810_0

  On March 20th, the power plant was informed that, SU7 is scheduled to be officially listed on March 28th. However, in the last month, preparations for vehicle sales are in full swing. In addition to speeding up the establishment of stores, the power plant learned from Xiaomi’s partners, supply chain and employees that Xiaomi opened the test drive of SU7 within the company and distributed a questionnaire survey to employees to understand their potential willingness to buy cars.

  At the same time, Xiaomi also sent invitations to buy cars to supply chains, channel partners, eco-chain companies and invested companies with Xiaomi. The top management of these companies received the F code from Xiaomi, which is a purchase invitation code used when Xiaomi’s mobile phone products are selling well. Using F code to buy a car can guarantee priority delivery, but there is no corresponding discount for car buyers to use F code, that is to say, even if it is an internal purchase method, SU7 will not provide discount.

  Three employees of Xiaomi Company and more than two people from supply chain and ecological chain companies confirmed the above news to the power plant. They stressed that these test drive, research and issuance of invitation codes are not mandatory purchase requirements, but still follow the voluntary principle. One of the eco-chain executives said that based on the cooperation with Xiaomi, he planned to buy a SU7.

  "Xiaomi employees can register information on the intranet, and then there will be corresponding people to contact the test drive. The contents of the questionnaire also include the status of family vehicles, whether they have the qualification to buy a car, driving experience and so on." According to three Xiaomi employees, Xiaomi has been holding a test drive for employees in the last two weeks, but this is not a mandatory requirement. If there is a car at home but there is no registration information, a test drive will not be arranged. Even after the test drive, Xiaomi employees were not informed of the price information.

  A person from the supply chain and another person from Xiaomi Eco-chain said that they recently received the F code from Xiaomi-this purchase invitation code was widely used in the early days of Xiaomi mobile phone snapping, and the F code means the priority to buy. With the purchase invitation code of Xiaomi automobile SU7, priority can be given to delivery. At present, the scale of Xiaomi’s distribution of F code is not known, but a person from Xiaomi’s ecological chain enterprise said that "the top leader can get at least one F code, or he can ask Xiaomi for more."

  At present, the power plant cannot determine the number of F codes issued by Xiaomi Automobile. Xiaomi once disclosed in an ESG report that by the end of 2022, Xiaomi had more than 1,000 suppliers. The number of eco-chain enterprises disclosed in Xiaomi Financial Report is about 400. At the same time, including companies invested by Xiaomi, there are more than 900 invested companies with capital relations with Xiaomi (data disclosed in 2021). One of the eco-chain company executives who got the F code is optimistic that Xiaomi’s circle of friends and employees’ in-house purchase are expected to bring at least 2000 vehicles.

  After the large-scale delivery, the areas around Qinghe and Yizhuang in Beijing may become the most densely exposed areas of Xiaomi SU7.

  On March 19th, at the performance meeting of Xiaomi Group, President Lu Weibing claimed that SU7 was a C-class high-performance eco-technology car with excellent performance, configuration and experience, so the pricing would be a bit expensive. Looking forward to the launch of the car, Xiaomi’s phased goal is to enter pure electricity.The top three sales of cars. He also disclosed some data and published an appointment tasting in Lei Jun.After that, the number of people who made an appointment to go to the store for a test drive increased by more than 100 thousand in one day, and some of them made an appointment in a single store for more than 10 thousand.

What is the relationship between community and community? What is the difference between community and community?

When we buy a house, it is estimated that many people choose a certain community. So how much do we know about the community? Some people always confuse the two. What is the relationship between community and community, and what is the difference between community and community, which needs to be understood? The following answers are also given for community and community, hoping to let people in need know.

What is the relationship between community and community?

According to the provisions of Article 20 of the Property Management Regulations, the owners’ committee of a residential area shall cooperate with the community to jointly do a good job in maintaining public security, and the decisions made by the owners’ committee shall inform the community and listen carefully to the community’s suggestions. Sub-district offices and communities should help communities to set up owners’ meetings and owners’ committees, but now sub-district offices and communities have not done so according to national laws and regulations, making it impossible for communities to implement property service contracts, resulting in property service enterprises having the final say unilaterally.

1. Residential quarter: neighbourhood and residential quarter are generally referred to as residential quarters, which refer to residential quarters, garden houses and residential groups with corresponding public facilities and non-residential houses. Refers to a large residential building in a certain area of the city with a relatively independent living environment, equipped with complete sets of living service facilities, such as commercial outlets, schools and so on. Unlimited number of people.

2. Community: refers to an administrative region in which members of the society in a fixed geographical area take the living environment as the main body, exercise social functions and create social norms, and are at the same level as administrative villages. It at least includes the following characteristics: a certain geographical area, a certain number of people, common consciousness and interests among residents, and close social contacts. For example, villages, small towns, street neighborhoods, urban areas or suburbs of cities, metropolises, etc. are all communities of different sizes. A community is a local society or a regional group.

What is the difference between a community and a community?

1, the concept is different, the residential area is based on residential, with the corresponding public facilities, and not residential areas, garden houses, residential groups, etc. It is a building in a certain area of the city, a large-scale house with an independent living environment, and supporting living service facilities, such as outlets, schools, etc., with no limit on the number of people.

2, the community is in the prescribed field, members in accordance with the living environment as the main body, exercise social ability, create social norms, and the administrative field of the same level as the administrative village. It has a corresponding geographical area and population, and residents have the same consciousness and interests, and they will have close contacts. Common communities include villages, towns, streets and so on.

Through the above introduction for you, what is the relationship between community and community, and what is the difference between community and community, it is estimated that users should already know it after reading it. The relationship between the community and the community is an inclusive relationship. No matter when buying the community, we should know which community the community belongs to, and we should also pay attention to comprehensive considerations in the selection of the community.

Vanke’s latest disclosure

  : A wholly-owned subsidiary applies for the company.Loans provide guarantees;: It is planned to spend 60 million yuan to 120 million yuan to buy back shares;: company andNo business cooperation;: Termination of reorganization;: Signing a contract with Huawei Cloud for a Netcom project in Algeria …

  Focus 1: wholly-owned subsidiaries provide guarantees for the company to apply for loans.

  As the principal debtor and a wholly-owned subsidiary of the company, co-borrower applied for a total loan of 7.784 billion yuan respectively, with a term of 42 months. The company’s wholly-owned subsidiaries provide guarantees for the relevant loans. In addition, as a borrower, the company applied for a loan of 1 billion yuan from the bank. Shenzhen Wanzhong Yuhong Operation Management Co., Ltd., a wholly-owned subsidiary of the company, provides corresponding mortgage guarantee for the above loan with its real estate assets. As of April 30, 2024, the balance of external guarantees of the company and its holding subsidiaries was 28.582 billion yuan, accounting for 11.40% of the audited net assets attributable to shareholders of listed companies at the end of 2023. The company has no overdue guarantee or guarantee involving litigation. After this guarantee, the total external guarantee of the company and its holding subsidiaries will be 47.205 billion yuan, accounting for 1.882% of the company’s audited net assets attributable to shareholders of listed companies at the end of 2023.

  Focus 2: It is planned to spend 60 million yuan to 120 million yuan to buy back shares.

  The company decides to use its own funds to buy back the company’s shares by centralized bidding, which is intended to be used in the employee stock ownership plan orPlan. The amount of shares repurchased this time is not less than 60 million yuan and not more than 120 million yuan, and the repurchase price is not more than 4.06 yuan/share.

  Focus 3:: The company and no business cooperation

  The company issued a stock trading risk warning announcement. According to relevant media information, the company was listed as a concept stock. After self-examination, the company has no business cooperation with NVIDIA. The company’s market environment and industrial policies have not been significantly adjusted, and the company’s internal production and operation order is normal.

Fixed increase & reorganization

  : disclose the plan to issue shares to a specific object in a summary procedure. The total amount of funds raised in this issuance does not exceed 300 million yuan, and all of them will be used in Zhongjing after deducting the issuance expenses.Power andFPC application module project (Phase I), replenishment of liquidity and repayment of bank loans.

  : The company intends to issue shares to a specific target by a simple procedure, and the total amount of funds raised will not exceed 250 million yuan. The net amount of funds raised after deducting the issuance expenses will be used for Zhengyuzhi Gardening Project.

  : The company plans to issue shares to Li Xin, the actual controller of the company, at a price of 23.49 yuan/share, and the total amount of funds raised will not exceed 500 million yuan. After deducting the issuance expenses, it is planned to be used for the second-phase construction project of enterprise technology center, the construction project of marketing outlets and product exhibition center and to supplement the working capital.

  The company originally planned to issue shares, convertible corporate bonds and pay cash to purchase 49.00% equity of Muxin Technology (Shanghai) Co., Ltd. and raise matching funds. At present, the company holds 51.00% equity of Mouxin Technology, which is a holding subsidiary of the company. After the completion of this transaction, Muxin Technology will become a wholly-owned subsidiary of the company. In view of the fact that this reorganization has lasted a long time since the planning and the market environment has changed greatly compared with the initial planning of this reorganization, the company decided to terminate this reorganization based on prudent consideration through friendly consultation, careful study and full demonstration with all parties involved in the transaction.

material particulars

  : The company plans to acquire 40% equity of Guangxi Huayi Co., Ltd. (referred to as "Guangxi chlor-alkali"), a subsidiary of the company held by Shanghai Huayi, the controlling shareholder of the company, for RMB 685,082,000. After the above-mentioned share purchase is completed, the company holds 100% equity of Guangxi chlor-alkali, and Guangxi chlor-alkali becomes a wholly-owned subsidiary of the company. In 2019, Guangxi Chlor-Alkali, a subsidiary of the company, invested in the construction of 300,000 tons/year caustic soda and 400,000 tons/year PVC project in Qinzhou, Guangxi (referred to as "Guangxi Qinzhou Project"). During the project construction, due to the limited funds of the company, Shanghai Huayi, the controlling shareholder of the company, jointly invested in the construction. In November 2022, the Qinzhou project in Guangxi was completed and put into operation. In order to increase the income of listed companies and improve the return of shareholders of listed companies, the company plans to acquire 40% equity of Guangxi chlor-alkali in cash to realize 100% shareholding in Guangxi chlor-alkali.

  : The company plans to use RMB 30 million to purchase 51% equity of Wuxi Xinjuli Technology Co., Ltd. held by Zhao Laigen (corresponding to the registered capital of RMB 31,227,300, including the paid-in registered capital of RMB 1,227,300), and undertake the obligation to pay the unpaid capital of the underlying equity after the equity transfer. After the completion of this transaction, Xinjili will become a holding subsidiary of the company. New cohesion is a set of planning and design,, equipment manufacturing, engineering implementation, after-sales service in one EPC-level smart logistics system solution service provider for the whole plant, serving LG,, Zhengli Xinneng and many others.Head enterprise, inThe field of sodium is the first to obtain industrial application, andIn the field of AMHS equipment, domestic substitution of some core equipment has been realized. The assessment period of this transaction is from 2024 to 2026, and the cumulative target net profit of the new cohesion assessment period is not less than 120 million yuan. The transferor promises to purchase the transferee’s shares from the secondary market with a capital contribution of not less than 10 million yuan within 6 months from the delivery date, and to voluntarily lock in the shares for three years from the date when all the funds are used up.

  : The company disclosed on February 27th, 2024 that Liu Xiaodong, the chairman, legal representative and general manager of the company, was detained. On May 23, 2024, the company received the Notice of Removing Lien issued by the Supervision Committee of Nanzheng District of Hanzhong City, and the Supervision Committee of Nanzheng District of Hanzhong City has removed the lien measures against Liu Xiaodong.

  : The Information Center of Handan Finance Bureau, a shareholder holding more than 5% of the company’s shares, plans to transfer all the 22,932,000 shares (holding 7.75%) of the company to Handan Industrial Investment Group Co., Ltd. for free. According to relevant regulations, this free transfer has been studied and approved by Handan Finance Bureau and State-owned Assets Supervision and Administration Commission of Handan Municipal People’s Government, and both parties to the equity transfer have signed the Agreement on Free Transfer of Equity. This equity change does not involve the change of the company’s control right.

  : The meeting of the board of directors and the meeting of the board of supervisors reviewed and approved the Proposal on Investing in the Establishment of Companies in the United States. The name of the company to be established this time is American Kuaike Photovoltaic Electronics Co., Ltd., with a registered capital of no more than 13 million US dollars. The company said that setting up a company in the United States is in line with the development trend of the photovoltaic industry and will further improve the company’s production capacity layout, so as to better meet the customer’s production capacity supporting needs and improve the company’s comprehensive competitiveness.

  Considering the changes of internal and external environment, strategic development plan, future financing plan and many other factors, after full communication and careful analysis by all parties concerned, the company decided to terminate the issue of convertible bonds to unspecified objects and withdraw the application documents.

  According to the announcement on the disclosure of abnormal fluctuations in stock trading, combined with the analysis of the company’s recent business situation and internal and external business environment, the company’s various businesses have developed steadily without major changes, and there is still great pressure in operation, and there is great uncertainty in future business performance. If the introduction of customers and orders in the future is not as expected, and the factors affecting the company’s operating performance in 2023 have not changed significantly, it will continue to affect the company’s operating performance.

  On May 23, 2024, the company signed the Strategic Cooperation Framework Agreement on Joint Venture to Establish Two New Recycling Digital Platforms and Serve Two New Platforms with Hubei Supply and Marketing Group Co., Ltd. and Recycling Brother (Wuhan) Internet Co., Ltd., and the three parties decided to carry out all-round cooperation in the fields of digital recycling platform, circular economy industrial cluster, renewable resource product supply chain, remanufacturing industrial chain, technology research and development, and form a strategic partnership, and join forces to give full play to their respective advantages and resources. That is to jointly build "1" digital recycling platform; Carry out "3" circular economy industrial cooperation; Build "1" supply chain of renewable resources products and improve "a network of renewable resources"; Cooperate to create "1" innovative technology platform for the research of "two new strategies" and renewable resources industry.

  The company has applied to the Stock Exchange of Hong Kong Limited to issue bonds under its medium-term notes of US$ 40,000,000,000. It plans to issue debts only to professional investors within 12 months from May 23, 2024.The way to go public. It is expected that the planned listing will take effect on May 24, 2024.

  Nanjing Yujie Technology Co., Ltd., a wholly-owned subsidiary of the company, plans to bid for 1.59% equity of Weimeizi Industrial (Guangdong) Co., Ltd., with an estimated price of 36.1639 million yuan and a starting price of 25.3147 million yuan. Wei Meizi is a leading provider of oral care products in China, and its "Shuke" brand is China oral care brand. In 2017, Shuke brand was rated as a well-known trademark in China by the Trademark Office of the State Administration for Industry and Commerce. In addition, Wei Meizi’s "Shuke Baby" brand is a well-known brand in China children’s oral care products market.

  : The company received the "Lacoxamide" issued by National Medical Products Administration.Notice of Approval for Drug Marketing Application, Lacoxamide belongs to the third generation of antiepileptic drugs, which is mainly suitable for monotherapy of partial seizures in patients aged 4 years and above..

  Shuanghe Limin, a wholly-owned subsidiary of the company, received the Drug Registration Certificate for phloroglucinol injection issued by National Medical Products Administration, and this time obtaining the Drug Registration Certificate is deemed to have passed the conformity evaluation. Phloroglucinol injection is used to treat acute spasm pain caused by digestive system and biliary tract dysfunction; Acute spastic colic of urethra, bladder and kidney; Gynecological spasmodic pain.

  : Company and HuaweiTechnology Co., Ltd. signed a project contract for Algeria Netcom, with a total contract amount of RMB 53,687,600 (including tax), accounting for 3.20% of the company’s audited operating income in 2023.

  The board of directors of the company received the written resignation submitted by Liang Baojun, senior vice president of the company. Liang Baojun resigned as the senior vice president of the company due to his job transfer. The resignation will take effect on May 23, 2024.

  : The company recently received the official reply from the State Financial Supervision and Administration on the qualifications of Liu Hui and Ruan Qi. According to the reply, the General Administration of Financial Supervision has approved the qualifications of Liu Hui and Ruan Qi as directors of the company, and the above positions will take effect on May 17, 2024. Since the same day, Liu Hui has been a member of the Strategy and Asset-Liability Management Committee of the seventh board of directors of the Company, and Ruan Qi has been a member of the Risk Management and Consumer Rights Protection Committee of the seventh board of directors of the Company.

  : The board of directors of the company received Shao Guanglu’s written resignation report on May 23, 2024. Due to his age, Shao Guanglu resigned as the executive director, president and chief operating officer of the Company. Shao Guanglu’s resignation takes effect from the date when the resignation report is delivered to the board of directors of the company.

  : The board of directors of the company agreed to appoint He Jinsong as the vice president of the Bank, and he officially took office as of the date when the regulatory authorities approved his qualifications as vice president.

  The company received the registration approval of insulin glargine injection (pre-filled pen) issued by COFEPRIS, the federal health risk protection agency of Mexico. Insulin glargine injection is a long-acting insulin analog product, which is injected once a day, and the action time can last for 24 hours after the injection takes effect, making it a particularly important basic insulin analog in the treatment of diabetes.

  : Upon application of the company and handling by Shanghai Stock Exchange, the abbreviation of the company will be changed from ""to "Lotus Holdings" on May 29th, 2024, and the company’s stock code "600186" will remain unchanged.

  The company decided to join hands with its holding subsidiary to import and export, and jointly invested 6.4 million euros (about 7 million US dollars) with its own funds to set up the European headquarters of Heli. Among them, the company invested 6.08 million euros, with a direct shareholding ratio of 95%; Heli’s import and export investment is 320,000 euros, with a shareholding ratio of 5%. The company decided to set up a wholly-owned subsidiary Heli Overseas (Germany) R&D Center with its own funds, with an investment of 940,000 euros (about 1 million US dollars).

Increase or decrease holding

  Ningbo Hongjing, a shareholder holding 5.86% of the shares, intends to reduce the total number of shares of the company held by him by centralized bidding and block trading to no more than 8,195,014 shares, accounting for no more than 2% of the company’s total share capital.

Suspension and resumption of trading

  Resumption of trading: Not yet.

  Suspension: Not yet.

  (Note: Data as of 20: 30 on 23rd)

Why do you need your pet so much?

According to the website of Spain’s "El Pais" reported on May 3, the coexistence between humans and animals has produced a unique relationship. One of the reasons is that animals can become people’s confidants, but they will not judge people. But to realize this magical relationship, we must respect animals and let them feel love.

The relationship between people and pets can develop into a great friendship. Psychologist Felix Zaragoza pointed out: "This kind of relationship is very special, because it is established between man and a living body who does not judge himself, does not ask too much and loves himself unconditionally."

The expert also said: "The emotional bond with pets has improved people’s quality of life, and most pet owners regard pets as their family members."

The "Second Scientific Research on the Relationship between People and Pets" conducted by researchers Homme Fajo and Paula Calvo of the Spanish Affinity Foundation confirmed this point. In this study, 76% of the respondents believe that animals should be respected as other family members. Similarly, 70% of the respondents said that they would communicate with their pets, and a tacit understanding could be reached between them. 31% respondents think that pets are more important than friends.

Fajo said in an interview that there are several factors that affect the development of the special relationship between humans and animals: "All human beings have a universal ability to identify emotions, emotions and cognitive abilities similar to ours from animals." On the other hand, animals also have the ability to resonate with us. He said: "Their characteristics and behaviors seem to activate our family and caring mechanism. One example is that dogs have a small muscle-levator palpebrae superioris muscle, but their close relative wolves do not have this muscle, which enables dogs to make sweet and gentle movements. " He also said: "We can say that dogs have cracked the mechanism of human affection and care in a sense."

Companion animals are one of the sources of social support. Just as people have a network of relatives or friends to rely on in difficult situations such as illness, animals also play this supporting role. Fajo said: "This is an important factor to promote personal emotional and physical health, which can cushion the negative impact of stress and promote healthy behavior."

Fajo also emphasized other aspects of this connection: "They can accompany you at any time, and you can take activities with them, such as walking; They can be listeners to your thoughts and troubles, and by taking care of them, you will feel useful and valuable. "

Living with pets can make people feel calm. Zaragoza said: "This relationship can relieve stress, for example, by touching and hugging animals, it can make people relax."

The animal behaviorist also mentioned other positive aspects that living with pets helps to improve social relations: "Pets are unconditional social emotional support and promoters of social interaction, so the existence of pets helps to reduce loneliness and loneliness."

However, what is the secret of establishing a unique and special relationship with animals living together? Experts point out that any bond of affection and attachment is based on positive and safe interaction, such as walking, playing, or spending enough time with animals in a calm, relaxed and satisfactory environment to make them feel love.

Experts suggest that animal guardians can do their part to create a harmonious environment and bring happiness to animals. It’s best to know the rules of coexistence, so that both sides know how to get along, or what can and can’t be done. For example, when a dog or cat approaches us, if it licks its nose, it needs its own space.

Experts also stressed the importance of respect in dealing with animals. For example, don’t disturb sleeping animals, which is the basic principle to establish a healthy coexistence relationship. (Compile/Liu Lifei)

Why do you need your pet so much?

[Editor in charge:

]

Big move in futures market! QFII and RQFII can participate in the expansion of financial derivatives trading varieties, and 41 futures options can attract gold.

Cailian News on September 2 (Reporter Zhou Xiaoya) China’s futures market has ushered in a new trend of opening to the outside world. Today, a number of domestic futures exchanges have announced notices about the participation of QFII and RQFII in the trading of some of their products, including 41 products.

Futures contracts for gold, silver, copper, aluminum, zinc, rebar and hot rolled coil under the previous issue, and options contracts for gold, copper, aluminum and zinc;

Crude oil, No.20 glue, low sulfur fuel oil, international copper futures contracts and crude oil option contracts under the Shanghai International Energy Exchange Center;

PTA, methanol, sugar, rapeseed oil and short fiber futures contracts under the Zhengshang Institute, and options contracts with PTA, methanol, sugar and rapeseed oil;

Futures and option contracts of soybean No.1, soybean No.2, soybean meal, soybean oil, palm oil, iron ore and linear low density polyethylene under the Dashang Institute;

Stock index options under CICC.

As early as last October, China Securities Regulatory Commission announced that QFII and RQFII can participate in financial derivatives trading, adding three new varieties: open commodity futures, commodity options and stock index options. The purpose of participating in stock index options trading is limited to hedging trading, which will take effect on November 1, 2021. With the announcement of relevant participating varieties by various futures exchanges, the aforementioned expansion of participating varieties officially landed, and the total number of participating varieties increased by 41, including 23 commodity futures varieties, 16 commodity options and 2 financial options.

On the same day, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, delivered a speech at the China International Finance Annual Forum of the 2022 International Trade Fair, saying that the CSRC strengthened communication with international investors, timely transmitted policy information, and stabilized foreign investment expectations, and achieved good results. Foreign investment in China’s capital market shows obvious resilience.

Fang Xinghai said that it will continue to steadily push forward the all-round institutional opening of markets, institutions and products. These include steadily expanding the international varieties of commodities and financial futures, supporting the authorized cooperation of settlement prices of futures products, and diversifying the opening paths of futures markets. The Futures and Derivatives Law, which came into effect on August 1 this year, made clear institutional arrangements for accelerating the two-way opening of the futures market.

In addition, Fang Xinghai also said that the research supports Hong Kong to launch treasury bond futures, accelerate the opening of the domestic treasury bond futures market to the outside world, and realize the coordinated development of the two places.

QFII and RQFII can participate in the expansion of derivatives.

On September 2, the previous issue announced that with the consent of the China Securities Regulatory Commission, from now on, qualified foreign institutional investors and RMB qualified foreign institutional investors can participate in the trading of the following commodity futures and options contracts on the Shanghai Futures Exchange: first, gold, silver, copper, aluminum, zinc, rebar and hot rolled coil futures contracts; Second, gold, copper, aluminum and zinc option contracts.

At the same time, the Shanghai Energy Exchange Center, a subsidiary of the previous issue, announced that with the approval of the China Securities Regulatory Commission, qualified foreign institutional investors and RMB qualified foreign institutional investors can participate in the trading of commodity futures and options contracts in Shanghai International Energy Exchange Center from now on, including crude oil, No.20 glue, low-sulfur fuel oil, international copper futures contracts and crude oil options contracts.

Zhengshang Institute announced that starting from September 2, qualified foreign institutional investors and RMB qualified foreign institutional investors can participate in PTA futures and options contracts, methanol futures and options contracts, sugar futures and options contracts, rapeseed oil futures and options contracts, and short fiber futures contracts.

Dashang announced that from now on, qualified foreign institutional investors and RMB qualified foreign institutional investors can participate in the trading of commodity futures and options contracts under Dashang, including futures and options contracts of soybean No.1, soybean No.2, soybean meal, soybean oil, palm oil, iron ore and linear low-density polyethylene.

As for the specific matters related to participation, the above commodity futures exchanges and their subsidiaries mentioned that banks with the qualifications for the futures margin depository business of domestic customers of various commodity futures exchanges can directly engage in the futures margin depository business of qualified foreign investors.

In addition, if a futures company accepts the entrustment of qualified foreign investors to trade commodity futures and options contracts in various commodity futures exchanges, it shall handle the account opening procedures for qualified foreign investors in accordance with the Provisions on the Administration of Customer Account Opening in Futures Market and the Operational Guidelines for Unified Account Opening for Special Unit Customers of China Futures Market Monitoring Center, and strictly follow the Announcement on Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors Participating in Commodity Futures and Options Contracts and other relevant requirements to manage the trading authority of customers.

For qualified foreign investors to engage in the variety trading under the appropriateness system, members of the futures company shall strictly implement the relevant guidelines, implementation methods and other requirements, and do a good job in the management of the appropriateness of qualified foreign investors. Futures companies are requested to do a good job in the management of trading authority and interpretation of rules, fully remind qualified foreign investors of matters needing attention and risks related to trading, settlement and delivery, and guide qualified foreign investors to participate in commodity futures and option contract transactions in an orderly manner.

In addition, all relevant units need to make preparations for qualified foreign investors to participate in the trading of commodity futures and options contracts, strengthen risk prevention and control, and ensure the smooth operation of the market.

As for financial derivatives, on September 2, CICC issued a notice saying that since the date of the notice, CICC began to accept applications for qualified foreign investors to participate in stock index option trading.

CICC emphasizes that qualified foreign investors should abide by laws, administrative regulations, rules, business rules of exchanges and other relevant provisions when participating in stock index options trading, and the purpose of participating in stock index options trading is limited to hedging transactions. In addition, CICC also stated that members entrusted by qualified foreign investors should be diligent and conscientious, and strengthen the compliance management of the trading behavior of qualified foreign investors.

Deepening internationalization of China’s derivatives market

In March 2018, China’s first specific variety of crude oil futures opened to the outside world was successfully listed in the previous energy period. At that time, Jacky Jiang, member of Chinese People’s Political Consultative Conference and former vice chairman of CSRC, said that the futures would be a pathfinder for commodity futures to open to the outside world. The homogeneity of commodities, the free trade in spot market and the application of "law of one price" in bulk commodity trade determine that the commodity futures market has the natural attributes of internationalization and globalization, so it is more urgent to open to the outside world.

The accumulated experience of crude oil futures in open path, tax management, foreign exchange management, bonded delivery and cross-border supervision and cooperation can be gradually extended to other mature commodity futures such as iron ore and non-ferrous metals, thus promoting the full opening of China’s commodity futures market.

Subsequently, China’s futures market opened the road to the expansion of international varieties. Up to now, the number of international varieties of commodity futures options in China has increased to 9. Among them, Shanghai International Energy Trading Center, as the first international variety trading center in the whole market, has listed five international varieties, namely crude oil futures and options, No.20 rubber futures, low sulfur fuel oil futures and international copper futures.

PTA futures under Zhengshang Institute, as the first specific chemical product in China, was successfully introduced to overseas traders in December 2018. Since 2018, iron ore futures, palm oil futures and options under the Dashang Institute have successively implemented the business of introducing overseas traders.

The participation of QFII and RQFII in China’s futures and options markets can be traced back to 2011 at the earliest. On May 4th, 2011, China Securities Regulatory Commission issued the Guidelines for Qualified Foreign Institutional Investors to Participate in Stock Index Futures Trading (hereinafter referred to as the Trading Guidelines), and then qualified foreign institutional investors and RMB qualified foreign institutional investors (hereinafter referred to as qualified foreign investors) gradually and orderly participated in stock index futures trading.

Until mid-October last year, the People’s Bank of China, the Foreign Exchange Bureau and the China Securities Regulatory Commission announced that qualified foreign investors could participate in the trading of financial derivatives, adding three kinds of open commodity futures, commodity options and stock index options, and the purpose of participating in the trading of stock index options was limited to hedging transactions, which took effect on November 1, 2021.

Fang Xinghai: Steadily promote the all-round institutional opening of markets, institutions and products.

As QFII and RQFII can participate in the range of financial derivatives trading, the promotion of two-way opening of the capital market is also worthy of continuous attention.

On September 2nd, Fang Xinghai, Vice Chairman of China Securities Regulatory Commission, delivered a speech at the China International Finance Annual Forum of the 2022 International Trade Fair, saying that the CSRC strengthened communication with international investors, timely transmitted policy information, and stabilized foreign investment expectations, and achieved good results. Foreign investment in China’s capital market shows obvious resilience.

In terms of futures, as of August 26th, the customer rights and interests of foreign investors in the stock index futures market were 31.755 billion yuan, and the total customer rights and interests in crude oil futures, iron ore futures, PTA futures, No.20 glue, palm oil, international copper and low sulfur fuel oil futures markets were 21.297 billion yuan.

Fang Xinghai said that it will continue to steadily push forward the all-round institutional opening of markets, institutions and products. These include steadily expanding the international varieties of commodities and financial futures, supporting the authorized cooperation of settlement prices of futures products, and diversifying the opening paths of futures markets.

In addition, it will further strengthen the construction of regulatory capacity and risk prevention capacity in an open environment. Continue to strengthen communication with overseas institutional investors, continuously improve the convenience of A-share investment, and continuously enhance the confidence of foreign investors in investing in China’s capital market.

It is worth mentioning that Fang Xinghai indicated that it will further strengthen the pragmatic cooperation between the mainland and Hong Kong capital markets. In the next step, we will launch the following three new measures with Hong Kong and relevant departments to expand pragmatic cooperation in the capital markets of the two places: First, we will expand the Shanghai-Shenzhen-Hong Kong Stock Connect. Promote the inclusion of qualified shares of major foreign companies listed in Hong Kong and more listed companies in Shanghai and Shenzhen into the target scope. Second, support Hong Kong to launch RMB stock trading counters. Study on adding RMB stock trading counters in Hong Kong Stock Connect to help RMB internationalization. Third, support Hong Kong to launch treasury bonds futures. The research supports Hong Kong to launch treasury bond futures, accelerate the opening of the domestic treasury bond futures market to the outside world, and realize the coordinated development of the two places.

This article comes from Zhou Xiaoya, a reporter from Cailian Association.

Reporting/feedback