分类： spa

On March 18, the Medici Innovative Pharmaceutical Industry Ecological Cooperation Conference with the theme of "20 Years of Beauty, Creating the Future Together" was successfully held in Shanghai Zhangjiang Science Hall. After 20 years of hard work, Medici (688202) has taken empowering biomedical innovation research and development as its mission, grown side by side with China’s biomedical industry, and has developed into a leading one-stop biomedical pre-clinical R & D service platform in China.

At the conference, more than 500 industry leaders from various fields such as government, industry, academia, and finance gathered to participate in the grand event. Together, they reviewed Medisi’s outstanding history over the past 20 years, witnessed the launch of its globalization prelude, and the grand launch of two key technology service platforms. In addition, the conference also held a number of thematic dialogues around current hot topics. The guests brainstormed and discussed in depth the future development direction of the innovative drug industry ecology. They offered suggestions for the sustainable development of the industry, pointed out the way forward, and worked together to explore new opportunities for the cooperative development of Chinese pharmaceutical companies.

Twenty Years of Prosperity　Starting from "New" with high hopes

First of all, Mr. Wu Qiang, member of the Standing Committee of the Shanghai Pudong New Area District Committee and deputy head of the district, delivered a warm opening speech, expressing his heartfelt congratulations on Medici’s brilliant achievements over the past 20 years. He deeply reviewed how Medici participated in and witnessed the rapid development of the biomedical industry in Pudong, established an academician innovation drug ripening center, was approved by large enterprises to open an innovation center, and made outstanding contributions to the construction of the new drug empower ecosystem, and eagerly looked forward to Medici’s ability to continue to expand the breadth and depth of the industry and promote the vigorous development of the biomedical industry more widely. Finally, Vice Mayor Wu Qiang said that Pudong New Area will unswervingly promote institutional reform, provide a broader development space and more powerful policy support for the biomedical industry, and call on entrepreneurs and investors to come to Pudong to join hands in creating a new future of technological innovation!

Song Ruilin, executive chairperson of the China Pharmaceutical Innovation Promotion Association, pointed out in his speech that in the context of the reshaping of the global economic structure and the increasingly complex geopolitical situation, China’s biomedical industry is standing at a critical crossroads, facing both unprecedented challenges and huge development opportunities. In recent years, with the successive introduction of a series of policy plans, China’s biomedical industry has ushered in an unprecedented spring breeze of development, while Medicis and others will usher in a more rapid development momentum and contribute more to the rise of the biomedical industry. Finally, President Song Ruilin confidently emphasized that 2024 will be a year of hope for the biomedical industry.

Chen Chunlin, founder and CEO of Medici, expressed his sincere gratitude to all the guests in his speech. He mentioned that Medici has been fortunate to witness the rise of China’s biomedical industry and has achieved outstanding results in scientific research innovation, industrial integration and business expansion. He stressed that the current biomedical industry is ushering in a new spring, full of unlimited opportunities. As an important part of new drug research and development, Medici shoulders the important task of promoting the implementation of source innovation and empowering the development of the industry. Dr. Chen said that Medici looks forward to working with more partners to jointly build an ecological empowering circle and promote the sustainable innovation and development of the biomedical industry.

Chen Kaixian, an academician of the Chinese Academy of Sciences, delivered a wonderful keynote report, entitled "Biomedical R & D Innovation and Industrial Development", which deeply analyzed the opportunities and challenges of biomedical innovation and development, and comprehensively sorted out the situation, progress and problems of biomedical development in our country. He elaborated on the four major development trends of global pharmaceutical innovation, and keenly pointed out the shortcomings and bottlenecks in the field of biomedical development in our country. At the same time, Academician Chen also shared the hot spots of scientific and technological innovation, especially the application of artificial intelligence in the field of new drug research and development, which brought dawn to the research and development of new drugs. Finally, we look forward to strengthening cooperation from all walks of life and contributing to Shanghai’s goal of building a source of biomedical technology innovation and a world-class biomedical industry cluster.

The prelude to globalization has begun, deeply empowering the transformation of innovation achievements

Next, the prelude to a new chapter of globalization was officially opened, and the Transformation Ceremony of Medici’s Biomedical Source Innovation Achievements opened. This landmark moment not only fully demonstrates Medici’s outstanding innovation achievements in the field of biomedicine, but also indicates that these achievements will be quickly transformed into strong actual productivity, injecting new vitality and momentum into global cooperation and development, and enabling the drug research and development industry chain to innovate at the source and extend globally!

At the ceremony, Pharma representative Zhang Lianshan, research institute representative Li Bin, CXO industry representative Chen Chunlin, Zeng Dewan, Rong Yiping, AI intelligent medicine representative Zhang Long, overseas Biotech representative Mr. Sam Waksal, domestic Biotech representative Cheng Changfu, Liu Binlei, investor representative Zhao Yongsheng came to the stage one after another to join hands to start the transformation of biomedical source innovation achievements. Medici will take this launch ceremony as an opportunity to further strengthen communication and cooperation with domestic and foreign partners, jointly explore new paths for the transformation of biomedical innovation achievements, and work together to promote the sustainable prosperity and development of the global biomedical industry, and jointly create a better future.

Next, Mr. Sam Waksal shared his views on the original innovation of the biopharmaceutical industry and the globalization of innovative drugs, saying that under the leadership of Dr. Chen, Medici has developed over the past two decades and has become a leader in the industry, and its achievements are remarkable. Although the biomedical industry is young, it has shown great potential and influence on a global scale, driving sustained economic growth. Today, the pharmaceutical and biotechnology fields are closely linked, and they are jointly committed to the research and development of innovative drugs. Medici has played a pivotal role in it, not only transcending national borders and politics, but also injecting new vitality into the global economy. Finally, we look forward to the future to continue to witness their greater contributions to human health and economic development.

Innovative drug going overseas strategy and successful case sharing

Innovative drugs continue to go overseas, how to seize the global market? Under the chairpersonship of Qiangjing, founder & chairperson of Xinnuowei and founding partner of Xingze Capital, Zhang Lianshan, deputy general manager and president of global R & D of Hengrui Pharmaceutical, Xue Tongtong, founder, chairperson and CEO of Yilian Bio, Peng Jianbiao, president of Jimin Trustworthy Small Molecular Innovation Research Institute, Pan Wensen, partner of the Hong Kong office of Gaowin International Law Firm, and Lin Qingcong, executive vice president and president of the US company of Medici, industry leaders gathered together to discuss the strategy and path of innovative drugs going overseas.

Zhang Lianshan, Xue Tongtong, and Peng Jianbiao shared their respective strategic plans and successful experiences in innovative drugs going overseas from the perspective of pharmaceutical companies. They elaborated on how to achieve global distribution of innovative drugs through precise positioning, technological innovation, and international cooperation, providing useful inspiration for pharmaceutical companies.

From the legal perspective, Penvenson deeply analyzed the legal challenges and coping strategies faced by innovative drugs going overseas. He emphasized the importance of compliance and provided practical legal advice to the participants.

As an investor and a representative of pharmaceutical companies, Qiangjing shared Xinnovi’s unique experience in innovative drug research and development and internationalization, and said that Xingze Capital has been paying attention to the research and development and industrialization of innovative drugs, providing funds and resources for potential enterprises and projects, and promoting the globalization process of China’s innovative drugs.

Lin Qingcong shared the rich experience and profound lessons of Medici in assisting pharmaceutical companies to enter the international market from the perspective of CRO. He emphasized that Medici’s one-stop biomedical pre-clinical R & D service platform can support the whole process of drug discovery from target discovery to IND declaration. In addition, the new drug empower ecosystem of the Academician Innovative Drug Ripeness Center can help new drug funding, transactions and other issues. At present, Medici has established a research and development base in Boston, which will further empower the drug to go overseas and achieve higher value.

Multi-site blockbuster unveiling　Two key technology platforms released

At this grand ceremony, Medici’s two major science and technology platforms made a major appearance, attracting extensive attention from the participants.

1. Drug Discovery & Pharmaceutical Research Science Key Technology Platform

Jian Liu, President of Medici’s Drug Discovery and Pharmacy Research Division, introduced the Drug Discovery & Pharmacy Research Science Key Technology Platform. The platform includes a new drug platform for targeted protein degradation, a small nucleic acid drug development platform, an ADC drug development platform, a polypeptide macrocyclic peptide drug development platform, an AI drug development platform, a synthetic biology platform, a green chemistry platform, a drug metabolite platform, etc., to support the innovation of various drug forms. It is worth noting that Medici has a complete R & D platform for small molecule innovative drugs; an AI drug discovery platform empowers and accelerates new drug development from target discovery to the generation of preclinical compounds; a green chemistry platform and a synthetic biology platform enable the synthesis of various complex compounds.

2. Key technology platform for preclinical research science

Subsequently, Zhang Haizhou, president of Medici’s preclinical research division, elaborated on Medici’s key technology platform for preclinical research science. In terms of discovery biology, Medici has built in vitro screening platforms, such as PROTAC, small nucleic acids, ADC, etc., as well as cutting-edge technologies such as synthetic biology and nano-antibody discovery. In terms of pharmacological efficacy, there are advanced platforms such as in vivo imaging, small animal surgical excision, and in vitro imaging. In addition, Zhang Haizhou focused on introducing DMPK and safety service platforms for various advanced drug types such as PROTAC, oligonucleotide, ADC, mRNA, and cellular immunity, as well as pre-clinical service platforms such as inhalation medication, ophthalmic medication, and topical medication.

The release of the two key technology service platforms not only fully demonstrates the outstanding strength and profound heritage of Medici in the field of biomedical pre-clinical research and development, but also provides a solid and powerful support for its future customers to better empower.

Industry leaders gather together　A new blueprint for biomedicine

Frontier technologies and industrial applications of drug discovery

How to promote the transformation of basic scientific research results in China? What are the future development trends? Ma Dawei, academician of Chinese Academy of Sciences and researcher of Shanghai Institute of Organic Chemistry, Chinese Academy of Sciences, Tao Weikang, vice president and general manager of global innovative drug research and development of Qilu Pharmaceutical Group, Liu Dongzhou, general manager of CSO/Innovative Drug Global R & D Center of East China Pharmaceutical, Shen Hong, head and senior vice president of Roche China Innovation Center, and Xu Yaochang, chairperson and CEO of Yuyu Pharmaceutical, shared their insights from their respective fields. Liu Jian, president of Medici Drug Discovery & Pharmaceutical Research Division, moderated this keynote dialogue.

Faced with the difficulty of transforming basic research, Ma Dawei shared in depth the course of cooperation with Academician Medisi’s Innovative Pharmaceutical Refinement Center, believing that this cooperation has achieved remarkable results in the transformation of scientific and technological achievements, bringing a mutually beneficial and win-win situation to both parties. At the same time, Shen Hong, head of Roche China Innovation Center and senior vice president, also introduced the Roche Accelerator, the world’s first self-established and operated accelerator project. The project fully integrates Roche’s own resources and advantages, and provides start-ups with all-round support including funding channels, cooperation opportunities, R & D experience, and advanced experimental equipment in an agile and flexible way to help start-ups grow rapidly and promote the development and industrialization of innovative drugs.

Tao Weikang, Liu Dongzhou, Shen Hong, Xu Yaochang and other pharmaceutical company leaders, based on the practical experience of their respective companies, discussed in depth how to accurately grasp their own advantages and differentiate the layout of innovative drug industry pipelines. They stressed that each company should formulate R & D strategies according to its core competitiveness. Facing the ever-changing technological challenges and changing future development trends, they said that pharmaceutical companies need to maintain keen insight and keep up with the pace of industry development. In sharing, they not only showcased the fruitful results achieved by their respective companies in the field of innovative drugs, but also provided valuable experience and inspiration for the future development of China’s innovative drug industry.

Transformation of new technologies for preclinical research of innovative drugs

Under the chairpersonship of Peng Shuangqing, Chief Scientific Officer of Medici, an in-depth discussion on the transformation of new technologies in preclinical research of innovative drugs was launched. The conference focused on breaking through the model barriers in preclinical research, technology development trends, market demand and future challenges, achievement transformation, and multi-party linkage.

Xu Zengjun, the former chief scientist of the Drug Evaluation Center of the State Food and Drug Administration and the founder of AstraZeneca Medicine, deeply analyzed the multiple challenges of preclinical research, such as the lack of understanding of the principle, mechanism and predictive correlation between models and diseases, as well as drug regulatory issues. Xia Mingde, founder/chairperson/CEO of Innolake Pharmaceutical, deeply analyzed the key role of translational medicine in crossing the "valley of death" in new drug development, and also pointed out the key role of translational medicine in crossing the "valley of death". Dr. Wang Yaning, former director of the clinical pharmacology department of the US FDA and CEO of Langlai Technology, pointed out that the FDA is cautious about preclinical data. Although AI technology is applied, there is insufficient data. It is necessary to optimize methods, strengthen translational research and data cooperation to improve R & D efficiency. Wang Haisheng, founder/chairperson/CEO of Sihe Genomics, emphasized the importance of AI in understanding the structure of genes and RNA, and mentioned the challenge of genetic differences between animal models and humans and the attempt of new organoid technologies. Yang Xiaobao, founder/chairperson/CEO of Bioscience, shared his research and development experience in the field of protein degradation, emphasized the importance of safety evaluation in preclinical research, and mentioned that with the help of Medici’s one-stop preclinical service platform, they successfully obtained clinical approval in China and the United States. Finally, he emphasized the enlightenment of tracking the layout of large companies such as MNC for Biotech.

Following the glorious past, we will move towards a glorious tomorrow. This 20th anniversary celebration of Medici is not only a feast for a full house, but also a brainstorming that concerns the development of the next 20 years. In the past two decades, Medici has not only witnessed the magnificent development history of the industry, but also acted as a vanguard force driving the continuous upgrading of the industry. In the future, Medici will adhere to innovation, deepen the field of biomedical pre-clinical research and development, lead technological innovation, enrich the matrix of R & D service platforms, layout the global market, ride the wind and waves, and move forward in the next two decades! (CIS)

Proofreading: Wang Jincheng

　　Autonavi Maps has launched a "smart cone bucket" that applies the Internet of Things transformation. After connecting to its map app data platform, it can realize real-time collection and release of information such as road construction, accidents and closure controls, and improve user travel efficiency and safety. The picture shows that in January this year, a road construction information released by a "smart cone bucket" set in the Dinghu rest area of Guangfo Zhao Expressway has been uploaded to the map app. Photo by Liu Dawei, a reporter from Xinhua News Agency

　　Have you seen the "brain" of road traffic? What kind of scenario does the future of smart travel look like? In fact, before we know it, the "brain" of traffic has already been "bravely leading the beam" between the endless roads, empowering a more technological way of travel.

　　In recent years, new technologies such as "Internet +", intelligent networking, big data, and artificial intelligence have been continuously applied in the field of road transportation, integrating more and more deeply into people’s lives, and constantly meeting people’s new expectations for safe, convenient, and high-quality travel. At the same time, "black technology" has gradually been applied, innovating and enriching the new connotation of "smart transportation", which also echoes the deep-seated needs of cities to improve their comprehensive transportation management capabilities.

　　Recently, under the guidance of the Traffic Administration of the Ministry of Public Security, the "2019 Internet + Urban Traffic Management Innovation Forum" jointly sponsored by the China Road Traffic Safety Association and Autonavi Map was held in Hefei. Experts in the field, public security traffic management departments, universities and scientific research institutions, and representatives of related industries and enterprises from all over the country gathered together to share innovative services and technological achievements in the transportation industry, and make suggestions for the comprehensive realization of intelligent transportation. It also showed a vivid and colorful future travel picture.

　　"Black technology" escorts road safety

　　The data shows that with the in-depth implementation of China’s transportation power strategy, the transportation industry has developed rapidly, and the road for people and vehicles has continued to grow at a high speed. As of the end of June this year, the number of motor vehicles in the country has reached 340 million, of which 250 million cars, 66 cities in the country have more than 1 million cars, 29 cities have more than 2 million cars, and 11 cities such as Beijing and Chengdu have more than 3 million cars. Under the rapid growth, it also puts forward higher requirements on how to apply big data and serve traffic control.

　　car recognition

　　According to Sun Zhengliang, party secretary of the Traffic Management Science Research Institute of the Ministry of Public Security, in recent years, the construction of the highway traffic safety prevention and control system has continued to advance, and the network of bayonets, video and law enforcement forensics equipment has been connected to the public security traffic integrated command platform. It is expected that traffic surveillance video will be "networked nationwide" by the end of this year.

　　At the same time, 25 kinds of illegal analysis models and vehicle characteristics database were established to screen all kinds of illegal acts from the traffic trajectory data. The successful application of the integrated command platform has also made the deck car invisible. By labeling the vehicle "portrait", the integrated command platform can analyze 470 billion track data, screen out more than 120,000 suspected fake deck cars, and re-screen those with higher frequency. After the data is synchronized with provinces and cities, the fake deck is locked through cross-regional spatiotemporal analysis.

　　Face recognition

　　Not only is it "recognizing the car", but through facial recognition technology, the platform can also accurately detect relevant license-related violations in real time, and accurately "recognize the face". License-related violations are mostly divided into three categories: driving without a license, losing driving (Note: traffic violations in which drivers still drive motor vehicles on the road after losing their driving qualifications, such as "drunk driving" revoking their driver’s license, "drug driving" canceling their driver’s license, "super score" not learning, overdue inspection, etc.) and permitted driving do not match. In fact, it is far from enough for such personnel to enforce the law through the traffic police. It is very difficult. The application of facial recognition technology can use data comparison, analysis and judgment to systematically warn and deal with the behavior of lost drivers on the road.

　　Mobile navigation becomes a traveler’s "all-round guide"

　　The development of "smart +" travel and the improvement of travel efficiency with "seamless" travel services will reduce the average travel time and layered travel mode, and use the traffic design foundation and transportation tools to drive the travel industry into the stage of intelligent transportation development. Liu Zhenfei, partner of Alibaba and president of Autonavi Maps, said that the management and service travel mode with mobile navigation applications as the breakthrough point will open up all levels, allowing travelers to receive comprehensive and efficient services "before the trip", "during the trip" and "after the trip".

　　The era of smart travel is coming, and mobile navigation can play a role far more than just "guiding the way". It is transforming into an inseparable "all-round guide" for travelers.

　　Protect safety

　　"There are tens of thousands of roads, and safety comes first." Dynamic traffic incident voice prompts are the link between managers and travelers. Mobile navigation receives dynamic traffic cloud information in real time and prompts travelers at any time. Through the application of the "smart cone bucket" after the transformation of the Internet of Things, road construction information can be uploaded to the map app, connected to the data platform to realize real-time collection and release of road construction, accidents and closed control information, and set up safety barriers. With the appearance of the "smart cone bucket", the secondary accident rate of Shanghai-Nanjing Expressway alone has been reduced by 34%.

　　improve efficiency

　　Taking Autonavi maps as an example, according to the analysis results of KPMG and the National Research Institute of Economics, mobile navigation applications save users at least 1.90 billion hours of congestion time, greatly improving traffic efficiency and fuel efficiency. And like the "multi-directional real-time road conditions" first launched in the industry last November, it realizes lane-level navigation at intersections and guides vehicles at intersections more accurately.

　　guard the environment

　　"By gradually launching’real-time public transportation ‘and other green travel navigation, we are transforming into a mobile navigation application for multi-mode green travel." According to Liu Zhenfei, in the past year, more than 37% of users have adopted green travel mode, and the proportion of green travel sharing has even exceeded that of cities with perfect public transportation services, such as Toronto, Canada, and Brisbane, Australia. "In the past few years, by improving our technical capabilities, we have not only made map navigation tools, but also hoped to provide a large number of new products and services for green travel in the whole city. We have launched’smart bus stations’, covering more than 10 cities. Travelers can effectively plan travel time through vehicle information inquiry, and public travel will become more and more convenient." Liu Zhenfei said.

　　Drawing alluring future travel scenarios

　　In July this year, the Ministry of Transport officially issued the "Digital Transportation Development Plan Outline", proposing to build a digital collection system, a networked transmission system and an intelligent application system with the "data link" as the main line, and accelerate the development of transportation informatization to digitalization, networking and intelligence, providing support for the construction of a transportation power.

　　City CT

　　Congestion, excessive resource consumption, traffic accidents… How to solve the urban traffic problem? At the forum site, the Autonavi map mirror system was officially launched. In the opinion of Dong Zhenning, vice president of Autonavi maps, the "mirror" that realizes intelligent analysis, evaluation and diagnosis of urban traffic based on AI and big data is like the "CT" of the city. It scans the factors affecting urban traffic in multiple dimensions, provides the "medical report" of urban traffic operation, and analyzes the reasons, so as to provide the basis for accurate and comprehensive policies.

　　After obtaining the "diagnosis result", the next step is to focus on realizing the information coordination of people, cars and roads and establishing a service model that quickly reaches users. In Wuhan, Autonavi maps have been coordinated with the information of signal lights. In addition, when congestion, accidents and other situations occur, video AI recognition technology can judge the perceived road conditions in the first time, and realize zero-hour diversion guidance through intermediaries such as apps, in-car navigation, and smart guidance screens.

　　One-stop, full chain

　　"One-stop" and "full chain" are undoubtedly the direction of change in future travel services. Qiu Hongtong, a researcher at the Institute of Traffic Management Science of the Ministry of Public Security, believes that the new demand for travel can be explained from three aspects: managers, service providers, and travelers. Managers can use big data tools to correctly guide travel services and better supervise new business models; service providers have the ability to provide reservation-based and customized services; travelers can better adapt to and enjoy the continuous changes in travel methods.

　　Open data, policy guidance, technical support and effective supervision. In the process of achieving the goal of future smart travel, there are still several key issues to be solved. Liu Zhenfei said that in the future, "smart +" travel will be further promoted in four aspects: automation, electrification, networking and sharing, deepen cooperation among enterprises, and deepen innovation in basic applications.

　　"Start with travel, integrate with life", the process of intelligent upgrade of the platform is also a process of open resource sharing and data integration. Only by working hard to get out of the "data island" can the digital dividend better benefit everyone.

　　(Reporter, Sun Yahui)

　　China Economic Net April 26th (reporter, Guo Yue) April 24th, Hengda Automobile (stock code: 00708.HK) announced that the company will sell its 47 health space projects to China Hengda Group at a price of 2 yuan, in order to focus more on the development of new energy vehicles. The announcement also disclosed that due to lack of funds, Hengda Tianjin factory has temporarily suspended production of Hengchi 5, and is expected toMayResume production.

　　Specifically, Hengda Automobile said that the sale of the health space project is due to the huge capital demand involved in the new energy vehicle project, coupled with the current situation of Hengda Group, so continuing to invest resources in the health space project is not in line with the group’s overall deleveraging strategy, and may also limit the development of new energy vehicles. The company hopes to achieve more focused and professional development of new energy vehicles by reducing its holdings of non-main business assets.

　　The announcement also said that due to insufficient funds, Hengda’s Tianjin factory will temporarily suspend production of Hengchi 5 and is expected toMayResume production. According to Hengda Automobile’s announcement on March 22, as of the announcement date, the company has delivered more than 900 Hengchi 5 vehicles to users.

1905 movie network news　On the evening of January 19th,The fantasy-themed film premiered in Beijing. Producer Tang Lijun, director, starring,,,,, and others appeared at the post-screening meeting, sharing the feelings of participating in the creation of classic IP changes.

The movie "Hua Qiangu" is adapted from the novel of the same name, telling the story of the girl Hua Qiangu’s struggle with fate all the way, finally finding herself and harvesting pure love. As the main creator of the drama version and the film version, producer Tang Lijun said in an interview at the premiere that he hoped that this sincere work could bring new touches to the audience: "I hope that the growth story of Hua Qiangu will not only convey the emotion of human nature to the audience, but also want to show the growth and transformation of women, and be brave to be themselves." Director Zhang Chaoli also talked about the original intention of taking this work, and admitted that he was also deeply stressed at the moment, hoping to gain the audience’s recognition.

At the premiere, several of the stars of "Hua Qiangu" also shared the behind-the-scenes stories of the shooting, as well as their understanding of the story and characters. Chen Turin, who plays the heroine Hua Qiangu, said that after watching the story, she felt that "Hua Qiangu" could resonate with many girls, which is also what moved people in this story. She also revealed that as a "fear of heights" patient, the shooting of this Weiya drama made a deep impression on herself, and even the star even vomited after the shooting, and everyone paid a lot for the wonderful performance.

Actor Li Chengbin also shared his preparations for playing the character of Baizihua from the outside to the inside. In addition to being a vegetarian, slimming down, practicing meditation, and studying the Four Books and Five Classics, he is also very clear about the audience’s expectations for Baizihua in front of the version of Zhuyu. At the premiere, Li Chengbin also confessed that in his mind, Huo Jianhua is a god-like existence: "I hope everyone will show mercy [to me]."

It is reported that the movie "Hua Qiangu" officially landed in theaters on January 20, sharing with the audience the fantasy story of "Hua Qiangu going against the wind all the way".

Article | Market Value Observation, Author | Yuntan, Editor | Xiaoshimei

Wang Jianlin, China’s former richest man, continues to fight while some property companies lie flat.

On the evening of June 28, Zhuhai Wanda Commercial Management submitted its Hong Kong IPO application materials for the fourth time, more than 500 days after the first listing application.

In the past three years, Wang Jianlin’s life is not easy. The impact of the epidemic, the strictest supervision in the history of real estate, a group of once-famous real estate giants have collapsed.

Considering that the betting agreement with investors will take effect at the end of the year, if Zhuhai Wanda fails to list, then Wanda will face up to 40 billion share repurchase pressure.

For Lao Wang, going public is no longer the "icing on the cake". There are only 6 months left. Wang Jianlin, who does not admit defeat, must fight to the back.

"Wanda Commercial Management is Wanda’s core enterprise. I can lose any enterprise, but this cannot be lost."

But this "lifeblood" continued to be undervalued after it went public in 2014, so in 2016, Wang Jianlin decided to delist Wanda Commercial Management.

In the seven years since, the real estate industry has undergone a sudden change, and Wang Jianlin has always adhered to the "three major tasks" – reducing debt, light asset transformation and promoting re-listing.

During this period, Wanda Commercial Management introduced a number of investors, but also buried the risk of gambling.

In 2017, Wanda shares and debt double-kill, Wang Jianlin bite after the teeth, at the expense of borrowing to Sunac, let Sun Hongbin and R & F tension to 63.75 billion yuan to pick up 13 Wanda cultural tourism city and 77 hotels.

At the Wanda annual meeting in January the following year, Wang Jianlin was in tears:In 2017, Wanda experienced too many storms and hardships.

But the wave has not subsided, and another wave has come to attack.

There is no such thing as a free lunch in the world. The nine investors who helped Wanda privatize previously agreed with Wang Jianlin to go public at the end of 2018, otherwise Wanda would have to pay interest and buy back shares.

However, the road to listing of real estate companies is basically locked, Wang Jianlin can only ask for help from old friends, Pony Ma, Zhang Jindong, Sun Hongbin, Liu Jintao opened the purse generously, jointly funded 34 billion, to solve the urgent needs of Lao Wang.

Since then, Wang Jianlin has switched to H shares again, and the listed entity has been changed to Zhuhai Wanda Commercial Management.

On the eve of its listing in Hong Kong, Zhuhai Wanda Commercial Management launched a Pre-IPO financing, transferring 21.17% of its shares to multiple investors such as Country Garden, CITIC Capital, Ant Group, Tencent, PAG Pacific Alliance Investment Group, etc. A total of about 6 billion US dollars (43.50 billion yuan).

The price Wanda needs to pay is that it must complete the listing by the end of 2023, otherwise it needs to buy back investors’ shares. That is to say, if the listing cannot be completed by the end of this year, Wanda needs to use 40 billion funds to buy back the equity.

The same script played out again, but this time, the friends were already cash-strapped, and some of them could not even protect themselves, so there was no money to help others.

For Wanda, which is currently not well-off, the expenditure of tens of billions of dollars is undoubtedly adding to the woes.

The end of the bet is approaching, and the iron man Wang Jianlin must speed up his pace.

In the history of H-share listings, it is rare for such a large number of IPOs to be repeatedly tossed.

Due to the delay in obtaining the "big road" of the China Securities Supervision Commission, some analysts said that,Zhuhai Wanda Commercial Management has set a "record" for the slowest overseas listing of a private company.

As early as October 11, 2021, Zhuhai Wanda obtained the acceptance letter from the Securities Supervision Commission and submitted its first listing prospectus to the Hong Kong Stock Exchange ten days later. But to this day, Wang Jianlin has not yet received the "pass" he has been longing for.

According to past experience, it only takes 3 to 6 months to get from "small road" to "big road", but Wang Jianlin waited 627 days. In addition, several Wanda IPO applications have also stepped on the implementation node of the "Pilot Measures" for overseas listing, and the road to listing can be described as a difficult buff.

Under the pilot scheme, domestic companies seeking to list overseas or in H-shares must obtain, in addition to an acceptance letter from the Securities Supervision Commission, known as a "small road", "H-share issuance approval" issued by the Securities Supervision Commission, known as a "big road". Only after having the "big road" will the Hong Kong Stock Exchange conduct a listing hearing for the company and start the issuance, roadshow and listing work.

In addition to the two "tickets", it also needs to be filed with the Securities Supervision Commission and approved. In other words, Zhuhai Wanda Commercial Management has an additional hurdle of approval.

Previously, Wanda’s listing information had expired three times, and the fundamental reason was that the "big road" had not been approved. On June 2, the China Securities Regulatory Commission raised six major questions to Zhuhai Wanda and asked for supplementary materials. Compared with the ease of listing in 2014, Wang Jianlin’s IPO can be described as even more difficult.

Therefore, in response to the supplementary material requirements of the Securities Supervision Commission, whether Wanda’s reply can pass the customs will be the key to the sprint listing.

Looking at the requirements of the Securities Supervision Commission, it can be seen that the problem mainly focuses on compliance, including corporate governance, capital exchanges with major shareholders, the authenticity of rental rate data, share repurchase, debt repayment arrangements, and high proportion of dividends.

According to the requirements, the issuer should supplement the materials within 30 working days. That means Wanda has about two weeks to prepare this response.

However, it is better to receive a reply than no news. Wanda also pointed out that "requesting supplementary materials is a normal process, and the listing is still in progress."

Just leave Wang Jianlin time is not much, in the face of the Securities Supervision Commission questions, Wanda iron also need their own hard.

If the "big road" is successfully obtained, coupled with the current policy atmosphere to support the real estate market, it is not impossible for Wanda to accelerate its listing.

Wang Jianlin is a man who refuses to admit defeat.

16 years of military experience have created his character of integrity, perseverance, and perseverance.

At the beginning of his business, he ran supermarkets, factories, elevator factories, substations, and eventually waded into the field of real estate development. But real estate is a capital-intensive industry. Due to his lack of experience, he has walked to the edge of the cliff many times due to capital chain problems.

At first in order to obtain a 20 million loan, he has more than 50 times hope to meet the leader of a bank, sometimes in the bank gate a stand is a whole day, but at that time Wanda is still a little-known small business, the bank is not willing to take risks, the final loan or not down.

On the one hand, he was exhausted for loans, and on the other hand, he was unable to start the project for a long time. Wang Jianlin didn’t sleep for nine days and nights at that time, and on the tenth day, he was directly unconscious in the company and was rushed to the hospital.

"You can’t be afraid of humiliation, you can’t be afraid of setbacks. The living can’t be suffocated to death by urine, and the bank can’t find it, so think of other ways." Wang Jianlin finally rescued Wanda, which was on the verge of bankruptcy, by issuing bonds.

In 2000, Wang Jianlin decided to switch to commercial real estate, but Wanda’s troubles still did not stop. In the first three years, Wanda mainly sold, and the merchants who purchased the shops directly sued Wanda in court for poor management.

In just three years, Wanda has fought 222 lawsuits. Although it has lost only two, the company is struggling to cope. Many people left Wanda at that time to find other ways.

Wang Jianlin did not flinch. In the face of difficulties, he believed in the thinking of "actual combat" and explored innovation and solved problems in practice. "When you reach the Yellow River, you will not die, and if you hit the south wall, you will not look back. When you reach the Yellow River, you will build a bridge and pass, and if you hit the south wall, you will turn over with a ladder."

He came up with an "urban complex" model. "Make a commercial center, build office buildings and apartments next to it. Sell apartments, office buildings, get cash flow, and the shops will run themselves."

This "combination of rental and sale" has allowed Wanda to rapidly expand its territory across the country and gradually grow into the country’s leading commercial real estate enterprise.

From an operational perspective,Wanda Commercial Management is China’s largest and most profitable business operations service provider.

According to the prospectus, Zhuhai Wanda achieved 17.196 billion yuan, 23.481 billion yuan and 27.12 billion yuan respectively in 2020, 2021 and 2022; its net profit during the same period reached 1.112 billion yuan, 3.512 billion yuan and 7.534 billion yuan respectively.

It can be seen that after the epidemic was released, Wanda bottomed out and rebounded, successfully achieved a V-shaped reversal, and its profitability increased significantly. Moreover, the profitability level from 2021 (adjusted by a specific algorithm) to 2022 has exceeded the gambling requirements. Considering the signs of consumption recovery, it will also be a high probability event to complete the betting profit requirement of 9.46 billion yuan in 2023.

The parent company Dalian Wanda Business Management Group is even larger, in 2022, Dalian Wanda Business Management revenue 49.314 billion yuan, net profit 12.301 billion yuan.

Taking Zhuhai Wanda as a reference, its revenue is 3 times and 6 times that of Xincheng Holdings and China Resources Vientiane Life Business Management, and 3.4 times that of the entire China Resources Vientiane Life Profit (2.206 billion yuan).

As of the end of 2022, Zhuhai Wanda had 472 projects under management, covering an area of 65.60 million square meters, making it the world’s largest business operations service provider and the only service provider in China to export large-scale management to third parties.

This asset-light model is not only what Wang Jianlin hopes to achieve, but also favored by capital markets. In Hong Kong stocks, the price-to-earnings ratio of China Resources Vientiane Life is nearly 5 times that of China Resources Land. The market value of Country Garden Services once exceeded that of Country Garden, which is mainly engaged in real estate development. Vanke also split All Things Cloud and listed it in Hong Kong.

The "limit for betting" has been reduced, and the listing battle of Zhuhai Wanda will most likely determine the fate of the real estate kingdom. But Wang Jianlin, a soldier, will not easily admit defeat. For now, this big gamble continues.

In April last year, Wang Jianlin took over the 10-year operation rights of the commercial project owned by Hu Baosen, "the first brother of Henan Real Estate"; five months later, two Wanda workshops in Zhengzhou opened at the same time.

In addition, Wang Jianlin also worked with Xinyuan Zhang Yong and Shanxi Tian Sen Du Yinwu, and took over the operation rights of Beijing Blue Harbor and Wukesong Zhuozhan Shopping Center. In 2022 alone, Wanda Commercial Management was involved in more than a dozen transactions.

Taking advantage of the recovery in consumption after the epidemic, Wanda is back on the road. The latest data shows that Wanda Commercial Management Group opened 12 Wanda Plaza in the first half of 2023, with a total of 484 openings. Total rental income in the first half reached 26.32 billion yuan, an increase of 4.5% year-on-year;

In addition, compared with other business management service providers, Wanda is more efficient, with a rental rate of 98.2% in the first half of the year and a 100% rent collection.

In addition to the core sector of business management, Wang Jianlin also pointed out at the annual meeting that in 2023, in addition to promoting the listing of Zhuhai Wanda Business Management, there will be cultural tourism "starting again".

After selling a number of cultural tourism assets to collect funds, Wanda Cultural Tourism "came back" in 2023. After the Lunar New Year, the once-quiet Wang Jianlin made frequent appearances, appearing in Luoyang White Horse Temple, Luoyi Ancient City, Guizhou Danzhai and other places, and immediately signed a number of cultural tourism projects.

Not only that, Wanda also issued a recruitment announcement called "Return to the Goose Plan", which is intended to bring back people who have worked at Wanda Hotels. More than 100 Wanda hotels are said to have participated in the campaign.

Residential real estate has also begun to return to the public eye. Wanda Real Estate (residential sector) focuses on Wanda’s commercial development and has been located in Wuhan, Guiyang and other places.

"In China’s real estate industry, Wang Jianlin deserves to be ranked first in terms of strategic execution and tactical discipline." Hu Baosen said of Wang Jianlin.

From surviving with a broken arm in 2017 to today’s massive counteroffensive, Wang Jianlin has taken precautions and acted countercyclically, which is the key to Wanda’s long-term survival.

Wang Jianlin once said: "Wanda’s difficulties are only temporary and phased, and Wanda will never lie flat." However, since the beginning of the year, the negative news lingering on Wanda has continued to ferment, causing Wanda, who originally "went ashore early", to once again fall into doubt.

However, these negative news are not completely real, and there are still many controversies. For example, the previously frozen equity of Dalian Wanda Commercial Management 1.90 billion, which Wanda said was worth far more than 1 billion yuan in property disputes. Wanda is using legal channels to safeguard the legitimate rights and interests of the company.

Previously, Dalian Wanda suspended the small public debt of 6 billion yuan, taking into account the current market conditions and voluntarily giving up the issuance, and will not have a direct impact on the listing of Zhuhai Wanda.

In fact, after the crisis in 2017, after Wanda repaid more than 200 billion in debt, the "debt nuclear bomb" has been dismantled. The decisive transformation to light assets has also made Wanda lighter.

Moreover, compared with the crazy leveraging companies such as Sunac and Evergrande, Wang Jianlin has a more forward-looking strategic vision. He often takes precautions before the storm, even at the risk of breaking his wrists, ultimately escaping disaster.

At another crucial crossroads, the former richest man in China is facing a crucial battle.

As his favorite song sings: "I want to go from south to north, and I want to go from white to black." At the age of 69, he chose to stubbornly continue to fight.

On July 25th, TFBOYS sixth anniversary concert tickets went on sale. Many fans who bought tickets said that after entering the Damai APP ticket purchase page on time at the opening time, there were a large number of tickets that could not be purchased, including senior members of the TFBOYS combination official website (fans who recharged 298 yuan membership fee) who had previously claimed to have the right of first refusal. And then scalpers openly sold high-priced tickets on other platforms, so some fans suspected that the platform had locked up a large number of tickets in advance, which caused heated discussions. On the afternoon of the 25th, Wang Junkai’s fan club "Wang Junkai Weibo" issued a statement, hoping that the concert organizer would provide an explanation.

The full text is as followsWhat is it?

Hello, relevant departments and leaders.

On August 10, 2019, the TFBOYS group will hold its sixth anniversary concert in Shenzhen. At 10:00 on July 25, the concert tickets will be sold exclusively on the Barley Network, claiming that 25,000 tickets will be open for senior members of the TFBOYS group official website (fans who recharge the membership fee of 298 yuan) to buy first.

However, ticket-buying fans found that after entering the Damai APP ticket purchase page on time at 10 o’clock, a large number of tickets could not be purchased, and there was a large number of tickets locked in advance! As a result, a large number of fans who have recharged premium members and obtained ticket-buying privilege accounts did not buy tickets.

At the same time, the major scalper organizations on the Internet began to sell tickets at an amount [several times higher than the original ticket price], and the maximum ticket price has exceeded 10,000 yuan! There are even scalpers claiming that the organizers directly provide consecutive tickets!

The exclusive channel of Damai.com has no tickets, but all kinds of scalpers are openly selling high-priced tickets, which makes fans puzzled and unacceptable, and the rights and interests of senior members to buy tickets are seriously damaged! Why is there a large number of scalper tickets when Damai.com is the exclusive agent of tickets, and all the ticket prices are much higher than the original ticket prices, openly sold at high prices on [Taotao Ticket and other apps]!?

We hereby request: All parties concerned to investigate the situation related to the ticketing of this concert and protect the legitimate rights and interests of consumers! Barley is required to provide proof of the number of tickets successfully purchased from 10:00 to the time when the tickets are sold out.

At the same time, as a senior member of the official website of TFBOYS combination, we strongly request @TFBOYS_FanClub @TFBOYS combination @Fengjun culture as the organizer to make a reasonable explanation for why there are a large number of high-priced scalper tickets under the exclusive authorization of Damai.com ticket sales!

It is reported that on July 8, the sixth anniversary concert of the TFBOYS group was officially announced, and it will be held in Shenzhen on August 10, 2019. The concert is called "THE FEVER". According to netizens, the Mayday group will serve as the surprise guest of the TFBOYS concert.