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Investigation on the current situation of domestic service： most institutions do not sign labor contracts with employees

　　Most domestic institutions do not sign labor contracts with employees, and acquaintances only verbally agree on related matters.

　　Investigation on the current situation of labor rights and interests protection of domestic service personnel

　　With the improvement of people’s living standards, more and more families choose to hire nannies and caregivers, especially in the context of the implementation of the comprehensive two-child policy and the deepening trend of aging, the domestic service market is growing. However, with the increasing number of domestic service employees, the protection of domestic workers’ labor rights and interests has become increasingly prominent.

　　Recently, the second China (Guangzhou) Family Service Industry Roundtable was held. The conference released the first data report of China domestic industry "led by government departments and combined with Industry-University-Research". According to the report, the data shows that the expenditure on domestic service has been increasing in double digits since this year, and there is a strong demand for maternal and child care, family education and nursing care. Domestic service is still mainly introduced by acquaintances, but more than half of domestic servants have not purchased relevant insurance.

　　At the same time, some media reported that many domestic workers said that they did not sign relevant contracts or agreements with domestic agencies or employers during their domestic service, especially when the employers were introduced by acquaintances.

　　What problems do domestic workers face in the protection of labor rights and interests without purchasing relevant insurance and signing contracts or agreements? The "Legal Daily" reporter investigated this.

　　Intermediaries do not sign contracts with domestic workers.

　　In May this year, Yang Ting came to Beijing from her hometown of Qingdao, Shandong Province. After being introduced by the villagers, she went to a housekeeping company for training.

　　"A housekeeping company, in fact, that is an intermediary. After a few days of training, the company registered me. When there is a job, they will release information and apply if I think it is appropriate. " Yang Ting said.

　　Yang Ting told reporters that she had applied for a job in Yueyue. After seeing the employment information released by the intermediary, she felt that the workplace was close to the place where she rented, so she decided to go for an interview.

　　"After the interview, the other party thinks that I am more suitable, and then the price is negotiated, and this matter can basically be settled." Yang Ting said.

　　Yang Ting told reporters that after the interview and negotiation with the employer, the intermediary will prepare an agreement, which will be signed by the intermediary, the employer and herself.

　　"It is to sign such an agreement, and the company will draw a certain commission from my first month’s salary as an intermediary fee, and then there will be nothing for the company." Yang Ting said.

　　Do you sign labor contracts or other agreements with domestic companies? "There is nothing else. When it is finished at an employer’s house, an agreement will be re-signed when the new employer is replaced. There is nothing else. " Yang Ting said.

　　Domestic companies are more willing to introduce new people.

　　In order to learn more about the domestic industry, the reporter of Legal Daily contacted Wang Min, a domestic worker.

　　Wang Min is from Cangzhou, Hebei Province and currently lives in Changping, Beijing. "I have been in this business for 10 years. I used to work in the property and later worked as a housekeeper." Wang Min said.

　　According to Wang Min, none of the domestic companies and intermediaries she worked for signed labor contracts. "I do cleaning, and after the company introduces the work, I will sign a contract or agreement with the company and the employer, and the time can be managed for one year. The first month’s salary is given to the company, and they will deduct 20% before giving it to me. In the second month, the employer will give me money directly. "

　　Wang Min told reporters that during this year, if the employer doesn’t need her, the company will arrange another job for her and will not charge extra money.

　　"I also worked in a leather bag company. Such a leather bag company contracts the work of the property and then recruits from the society. We will go to any household arranged by the company, and we will be paid monthly. Such a leather bag company will not sign any agreement. " Wang Min said.

　　As a matter of fact, the rights and interests of domestic workers can not be guaranteed when only a tripartite agreement is signed. During 10 years of working experience in domestic service, Wang Min has met several "unreasonable" domestic companies.

　　According to Wang Min, after signing the tripartite agreement of "managing for one year", she herself did not do it for one year several times.

　　"In this case, some companies will find me another one, but I have also met companies that have been slow to recommend new jobs." Wang Min said that after this happens, it will be a free introduction if the domestic company introduces it again. Generally speaking, companies will be more inclined to introduce jobs to "newcomers", so that companies can get 20% commission.

　　"The company usually makes me wait, but I just don’t want to find it. I am too lazy to find them. It is better to find another intermediary to earn some money when I have this time. " Wang Min said.

　　According to Wang Min, in the past 10 years, she has been wandering between many domestic companies and intermediaries in this way, and she will go if there is a suitable job. If there is a breach of contract and she doesn’t continue to introduce the work, she will change to another domestic company or intermediary.

　　Tripartite agreement on online domestic service

　　In the interview, the reporter found that with the development of "internet plus", many people are used to calling domestic service on websites or apps.

　　The reporter downloaded a housekeeping App, which can provide a variety of common housekeeping services, such as hourly workers, nannies, household appliances cleaning and so on. The reporter invited a nanny through this housekeeping App. Later, when the reporter called the nanny through the contact information provided by the housekeeping App, he was told that he had found the wrong person. About an hour later, a man called and claimed to be from a housekeeping company, asking about the nanny just now.

　　During the chat, the man claimed to be the staff of the above-mentioned housekeeping App. After the reporter informed him of the relevant requirements, he said that he could arrange an interview with a nanny.

　　The reporter also asked about the relationship between the nanny who arranged the interview and the housekeeping App. The man said that the nanny is their company.

　　Did the nanny sign a contract with the company? The man said that the nanny had signed a contract with the company and was a staff member of the company, so you can rest assured.

　　However, the man then told reporters that the employer needs to sign a tripartite agreement with the housekeeping App and nanny.

　　Since the nanny has signed a contract with the company, the employer only needs to sign a contract with the company, so why sign a tripartite agreement? When the reporter asked questions, the staff was vague and then hung up.

　　Acquaintances will not sign any agreements.

　　In addition to the introduction through domestic companies or intermediaries, the introduction between acquaintances is also a common form for domestic service personnel to find job opportunities.

　　Will the introduction between acquaintances sign a labor contract or a labor agreement?

　　Ms. Liu, who lives in Shijingshan District, Beijing, recently invited a nanny to her mother through an acquaintance.

　　Ms. Liu told reporters that she was not at home at ordinary times, and her mother had difficulties in taking care of herself. So she invited a nanny from her hometown in Hebei under the introduction of her neighbors.

　　"I didn’t sign any agreement with the nanny, it was a verbal agreement. The nanny works alone, without a company or an intermediary, and is introduced by acquaintances. " Ms. Liu said.

　　Ms. Zhang, who lives in Fengtai District, Beijing, also invited a new moon under the introduction of acquaintances.

　　"We didn’t sign a contract or agreement with Yueyue, just verbally. At first, it was a month. Later, my mother came from other places to help take care of the children, so she let Yueyue leave and Yueyue didn’t say anything. " Ms. Zhang said.

　　(At the request of the interviewee, the domestic workers in this article are pseudonyms.)

　　(Cartography/Li Xiaojun reporter Du Xiao Zhang Xichen)

Russian media： Vucic said that it cannot swear that it will not impose sanctions on Russia in the future, but so far it has not done so.

　　[Global Network Report] According to the Tass news agency, Serbian President Vucic once again expressed his position on sanctions against Russia on the 9th local time. He said that he cannot swear that he will not impose sanctions on Russia in the future, but Serbia stands firm and has not taken relevant measures so far.

　　"I can’t swear that we won’t do that (imposing sanctions on Russia). I can’t swear because it is irresponsible, but our position is very firm. So far, we haven’t done that." Vucic told Serbian Happy TV.

　　According to the report, Vucic said that Serbia had quickly made a decision on the conflict between Russia and Ukraine at the National Security Council of the country. "We (Serbia) don’t impose sanctions on the Russian Federation. I wrote a conclusion in the Serbian National Security Council. We negotiated every word, but I wrote it myself," Vucic said. "We made clear Serbia’s policy word by word, even if it sometimes cost."

　　Since Russia launched a special military action against Ukraine on February 24 last year, the EU has announced a number of sanctions against Russia, involving energy, finance and other fields. However, Serbia has always insisted on not joining the EU sanctions against Russia. Vucic said on August 30th last year that Serbia would not consider changing its policy on sanctions against Russia. He also said that if Serbia’s pressure on sanctions against Russia in the past six months is written into a book, it will be thicker than Marx’s Das Kapital.

　　According to a report by RIA Novosti last month, Vucic said on the 11th of that month that Serbia might have to impose sanctions on Russia because of western pressure on Serbia. Vucic believes that the time will come soon when Serbia is forced to do so. "Let me stall for as long as possible. I will not hide anything from the people. " However, according to media reports, Serbian President Vucic, who was visiting Abu Dhabi on the 21st of the same month, said in an interview with the media that Serbia has its own policies, which are serious, responsible, independent and independent, and it is the only country in Europe that insists on not imposing sanctions on Russia. He said that Serbia’s situation will become more and more difficult in terms of sanctions against Russia, but he believes that he can adhere to his own policies in the future.

Let ＂non-legacy＂ be more pyrotechnic.

Vivid the Monkey King.

Xiao Zhanxing attaches great importance to the inheritance of intangible culture.

Li Cuiwei’s work "Happy Birthday to the Eight Immortals"

Fengcheng "Xiao Pai Miansu" Guan Gong

Li Cuiwei took a group photo with her works at the second folk craft exhibition in Dongguan.

Qingyuan

Small-faced people make big souls.

During this double festival, I walked into the Xiaopai dough sculpture museum in Qingcheng District, Qingyuan, and the Monkey King, Guan Gong and Lu Bu … the colorful dough sculptures were lifelike, which made people exclaim. In Qingyuan Cultural Center, Guan Gong, a vivid intangible cultural heritage of Fengcheng "Xiaopai dough sculpture", often attracts many visitors, and its inheritor is Xiao Zhanxing, who is over 60 years old. He is the fourth generation descendant of Xiao School’s dough figurines, known as "dough figurine Xiao". At the age of 6, he followed his grandfather Xiao Lao to learn. Although he is no longer young, Xiao Zhanxing is still full of energy. He spends a lot of time studying history books and Chinese and foreign picture books every day, and skillfully combines Chinese traditional color sculpture skills with modern sculpture skills to form a unique dough sculpture technique.

● Work hard and look at "opening up"

Xiao Zhanxing is best at making heroes in Romance of the Three Kingdoms and Water Margin. He can show the muscles, bones and hair of the characters incisively and vividly, which is amazing. Many of his ingenious techniques of making dough sculptures were explored in more than 50 years of creative practice. Experts from the Committee of Experts on the Protection of Intangible Cultural Heritage in Qingcheng District believe that Xiao Zhanxing’s works combine artistic essences such as sculpture, painting, Peking Opera, history and literature, which are both traditional and innovative.

Xiaopai dough figurines are mostly based on fairy tales, dramas and historical figures, with wheat flour as the main raw material. After being processed and colored, they are shaped into vivid artistic images by means of kneading, rubbing and kneading, and by means of expression such as inserting sticks, hanging lines and embossing. Chang ‘e in graceful attire, Guan Gong with glaring eyes, Red Rabbit with braying hooves and bloody veins, and Lu Bu, the god of war who is aggressive in valor, are all endowed with fresh vitality under Master Xiao’s hand, and the details of facial features, clothes and weapons are handled very exquisitely.

In the inheritance of China’s traditional craft sculpture, whether a work is vivid or not depends mainly on the characterization of the details of the characters’ heads, commonly known as "opening faces". Xiao Zhanxing accurately grasped the changes in the muscle structure of the characters’ faces, and exaggerated them according to his own understanding. His expression was just right, which made different characters present different inner worlds. Xiao Zhanxing’s dough sculpture works are deeply loved and collected by art connoisseurs at home and abroad, and a classic work often needs to wait for 4~6 months.

● Show and spread Chinese culture through live broadcast.

In 1988, Xiao Zhanxing came to work in splendid china Folk Culture Village by chance. "In the 1990s, many Hong Kong people were curious about dough figurines. I once made dough figurines for some celebrities." According to Xiao Zhanxing, you only need to master the techniques of "one seal, two kneading, three inlays and four rolling" if you are quick in dough modeling, but it is not easy to achieve both form and spirit. In the studio, Xiao Zhanxing wears glasses, from making a skeleton and shaping, and then kneading, rubbing, lifting the skin of a person with noodles, and then using a knife to point, cut, carve, delimit, shape a body, hands, head and face, and put on various colors of hair accessories and clothes, which moves like flowing water.

In order to better promote dough sculpture culture, Xiao Zhanxing set up a studio in Qingyuan in 2019. In addition to opening the door to teach students, he also taught and broadcast live on the short video platform. A desk, two skillful hands, and small dough are endowed with new life in the fingers, so that netizens all over the world can intuitively experience the fun of "kneading people". After a few minutes, the colorful dough will become vivid characters, and the charm and movements of the face are portrayed to the extreme. Tens of thousands of people watched the live broadcast at most. With the blessing of the new forces of the Internet, the ancient Chinese craftsmanship also shaped Xiao Zhanxing into the "online celebrity" in the dough-making industry.

● Let the minority’s intangible craftsmanship become popular.

After thousands of years’ development, dough sculpture has become a kind of material that can not be ignored in the study of historical archaeology, folklore, sculpture and aesthetics. Dough sculpture works not only have the style of traditional painting in China, but also have the simple flavor of folk art, and are deeply loved by people because of their low cost, long preservation time and high artistic appreciation.

At the end of September this year, seven projects, including Xiaopai dough sculpture, The Legend of Feixia and The Legend of Longtang, were approved to be included in the list of the ninth batch of district-level intangible cultural heritage representatives in Qingcheng District and announced to the public after being evaluated by the meeting of the expert committee on the protection of intangible cultural heritage in Qingcheng District. When everyone is curious about why Xiao School’s dough figurines have a unique aesthetic appeal, Xiao Zhanxing tells the secret: a figure dough figurine with both form and spirit must have a deep understanding of the historical background of the characters created, not only trying to figure out the prototype, referring to the surrounding literature, but also making the charm that he wants to express through skills and techniques.

In Qingyuan, the skill of Xiao School dough sculpture has been widely spread. In order to inherit the dough sculpture skills, Xiao Zhanxing has widely accepted his disciples. In the past ten years, his disciples have become the best in the dough sculpture industry, and won gold medals in international competitions many times, which has played a significant role in promoting the development of dough sculpture, food sculpture and other industries. The seal of Xiao School is molded on every surface, which may be the best interpretation of Xiao Zhanxing’s ingenuity. Xiao Zhanxing said: "As a kind of folk street culture and art, dough sculpture has become an international work of art through the unremitting efforts of generations of folk artists. Behind the dough sculpture culture is the inheritance of Chinese traditional culture, and it is also my emotion for dough sculpture culture. It is a responsibility and a glory to devote myself to the promotion of dough sculpture culture. "

Dongguan

Mud tires "wear" clothes

During the long vacation, many people went to the art exhibition to see the "little clay figurine"-for example, the provincial intangible project "Tea Mountain Silk Dress Lantern", and the clay figurine wearing silk and flowers was different and exquisite; Or a clay doll for ladies’ wear, holding a banquet under the palm-sized "osmanthus tree", which is so festive. The clay sculpture works created by a female artist in Dongguan bring different pleasure to tourists.

● Garlic skin skillfully makes lotus petals.

At the second exhibition of fine folk arts and crafts in Dongguan, the work "Eight Immortals Celebrating their Birthday" by Chashan Silk Dress Lantern was an eye-opener. This is specially created by Li Cuiwei, the representative inheritor of the intangible cultural heritage project "Chashan Silk Dress Lantern" in Guangdong Province, for the "Golden Week". Inspired by the custom of "praying for the Eight Immortals" in Dongguan’s old festivals: a colorful New Year picture with seasonal fruits, adults praying for health and beauty, and children waiting to share fruits … From Li Cuiwei’s childhood memory, "Eight Immortals" has intersected with Dongguan’s folk customs, rich life and other concepts.

Three months ago, it didn’t go well. Li Cuiwei encountered a problem when making the first character "He Xiangu". The "Lotus" held by the character couldn’t find a suitable material-clay sculpture was poor and clever, paper-cut was thin, and light clay was too "cartoon", so she couldn’t start at the moment. On Tanabata this year, Li Cuiwei visited Tanabata Tribute Table in Wangniudun Town, and was pleasantly surprised to find that local skillful women made flowers with garlic clothes, but the effect was confusing. When she came back, she did the same thing, peeling off a garlic, selecting a full garlic clove, tearing off the garlic coat with tweezers, and trimming it with scissors, so that there was a tender and bright "petal". Soon, a "lotus" slightly larger than the thumb cover was completed, but it was still a little plain. Li Cuiwei had a brainwave and took out her lipstick-that’s how the blush of "He Jian" came from.

Li Cuiwei said that the folklore of "Eight Immortals Crossing the Sea" has the meaning of "facing difficulties and going forward" and conveys the belief of pursuing beauty. She hopes to pass on this kind of "kindness" to every audience.

● I hope that the inheritors can "eat by craft"

During this long vacation, Li Cuiwei is basically not idle. She is making a group of tea mountain silk lantern works related to firefighters, and is ready to participate in the "Guangdong Fire Seal" cultural and creative works design competition. Chashan Silk Dressed Lantern is a small clay figurine dressed in satin, which originated in Chashan, Dongguan, and the earliest doll prototype can be traced back to Wen Tianxiang.

Li Cuiwei said that "keeping pace with the times" in the topic selection and "being inclusive" in the material selection have made the skills of Chashan Silk Dress Lantern immortal-for example, the "astronaut" she created last year, the helmet was cut with a 3D printed mask, and the process of wrapping beads and pasting metal beads was also used. However, in recent years, she has felt the pressure of inheritance more and more. Not long ago, a young man came here with great admiration, but he came back sadly, because he was told that "working as a silk lantern does not earn money". This makes Li Cuiwei somewhat sad. She said that she has a little savings and doesn’t need to make a living by craft, but young people have to solve their livelihood problems.

Chashan Silk Dress Lantern has not yet found a way to realize it. Due to the need of skills, each doll is hand-made (including kneading clay tires and cutting clothes), with small output and not much price advantage. However, Li Cuiwei is making adjustments in combination with the direction of "Chaowan": designing 12 zodiac dolls, adding personalized and DIY elements, and controlling the price within 100 yuan. She hopes that young people who inherit Chashan Silk Dress Lantern can "eat by craft" in the future.

Text, map/Guangzhou Daily All-Media Reporter Cao Jing, Xie Yingjun

Qingdao’s most popular road! Don’t come without a 128G stomach

Qingdao food circle has a coordinate.

It’s called Liaoyuan Road,

There are many delicious foods that can stand the test of time.

Without a luxurious facade,

It depends on the word of mouth of diners.

If you miss this food street,

It will really leave regrets!

All right, let’s take a 128G stomach now, and let’s go!

Every few steps,

There is a store that awakens memories.

Ba Dao Xiao chuan

If you talk about strings in Qingdao, then overbearing strings can definitely dominate the corner. There are many branches in Qingdao, and this daily meal on Liaoyuan Road can only be described by people following the crowd.

The pot with red oil bottom is very fragrant, and the special dry dish and oil dish are definitely sharp tools to absorb powder. Beef, tripe, bone marrow, duck intestines ….. everything will not let you down. The tender beef is very tasty, the meat is soft and moderate, and the soup in the pot completely stimulates the taste of beef, which is so fresh that it cries!

Address: No.228-4 Liaoyuan Road

Per capita: 57 yuan

Pangtaitai Sichuan spicy sparerib chuan

After opening an old shop for 11 years, many people have learned to be parents since they were students. The most famous one is the sparerib string with honey sauce, which is sweet and spicy. Every bite is full of meat, solid and tight, without any greasy feeling!

The tripe shabu-shabu must be ordered, ruddy and dripping with oil, and the aroma is overflowing. That’s a delicious one!

Honeycomb corn also let me grow grass after eating it once, and it was fine and tender, mixed with the sweet and waxy corn. The big mixed vegetables are refreshing and refreshing, which makes me find the taste of home.

Address: No.228-5 Liaoyuan Road

Per capita: 66 yuan

Dongzhen hotpot

If you want to eat the original instant-boiled mutton, you have to eat the traditional copper pot. Hand-cutting is the most test of the master’s knife work. Its fat beef and mutton are full of weight, and the silk texture is fresh and tender. After such a rinse, it is called tender! With small ingredients, super satisfied!

I really can’t drink any more.

The "sand bag" is definitely a must-order. It is filled with crab seeds and shrimp seeds, and it will be very supportive if you eat two or three. Eating crab meat raw, the sweet taste makes people bite after bite.

Address: No.228-5 Liaoyuan Road

Per capita: 93 yuan

Yujilao copper pot

Qingdao’s rare 24-hour hot pot restaurant, you must order a hand-cut leg of lamb when you come here. The meat is delicate, fat and thin, and the taste is amazing.

Hot-boiled mutton has to be matched with "hemp bowl" to taste. Its dip is specially prepared by the boss in Qingdao. The sesame sauce and mutton are skillfully mixed in the mouth, which instantly cures the tired body and mind after a day.

Address: No.128 -6 Liaoyuan Road

Per capita: 83 yuan

Yuanji hotpot

Its disposable healthy pot bottom makes customers feel at ease. Skin, duck tongue, crispy meat and brain flower … enrich your eyes and your stomach, and they are all worth tasting.

Recommended spicy beef, fresh and firm taste makes you fall in love with it in minutes! Have a beer again, it’s really wonderful!

Address: No.234-5 Liaoyuan Road

Per capita: 57 yuan

Shengtian maoxuewang

When it comes to Mao Xuewang, we have to mention this store. Its side dishes are super! Feng! Rich! Yellow throat, hairy belly, crab stick, sea ganoderma lucidum, pig liver, duck blood, bean skin in oil, magnetic mouth twist, eel pieces ….. are too many for people to come over, and this one is enough for three people!

Spicy chicken must be ordered, the chicken skin is very waxy, the meat quality of the chicken is firm, and there is still a bit of teeth. Every bite is the climax of the tip of the tongue.

Address: No.240 Liaoyuan Road

Per capita: 66 yuan

Wangge barbecue

A shop that can drink wine until 2 am. This is Midnight Food Store for many people. Roast leg of lamb is almost a must for every guest who comes to the store. The skin is crisp, the meat is tender and delicious, and there is no smell at all.

Figure /Nancy_God_loves_U

The barbecue is oversized, and what you want is a solid satisfaction. Two more glasses of wine, and all the pride and frustration will be gone.

Address: Building 6, No.257 Liaoyuan Road

Per capita: 72 yuan

Ling Huchong Yao Kao live fish

Grilled fish control must not miss the shop, green pepper flavor, thirteen flavors, pickled peppers, sauerkraut … many flavors, thinking about it will make your mouth water.

Recommended green pepper flavor, full of soup constantly warm cooking to make fish taste, the more you eat, the more fragrant, hot and jubilant taste is simply addictive!

Address: No.228-5 Liaoyuan Road, Liaoyuan Road Street

Per capita: 75 yuan

Chuanyu store Sichuan dish

A Sichuan restaurant specializing in cooking fish, the owner of which is from Chongqing, certainly tastes authentic. Stone fish can definitely be regarded as Hua Dan, the master of Chuanyu House! Fish is fried in advance, and the smell is even more appetizing. Spicy and delicious, very delicious.

Figure/Panda Superman Miss

Address: No.240 Liaoyuan Road

Per capita: 51 yuan

How many people were there?

Along Liaoyuan Road

Eat from one end to the other

At that time, I studied, worked and lived here. ……

Every store has memories of youth.

Liaoyuan Road in Memory

It’s always been so lively

In the future, it will always be lively.

What other delicious restaurants have you eaten in this street?

Come and add it in the message ~ ~

Chinese disease control expert： The occurrence of adverse reactions after booster vaccination of COVID-19 vaccine has not exceeded the past.

The State Council joint prevention and control mechanism held a press conference on scientific and accurate prevention and control of epidemic situation.Wang Huaqing, chief expert of immunization program of China CDC, said that according to the current epidemiological analysis at home and abroad, the risk of serious illness and death is very high after the elderly are infected with Covid-19, especially those with basic diseases are infected with Covid-19. In this case, these people should be vaccinated. From the perspective of benefits and risks, the vaccination of the elderly should not only be carried out according to two doses of inactivated vaccine, but also follow-up booster shots according to regulations, so that better protection can be obtained.

Wang Huaqing said,According to the research results of strengthening needle in previous clinical trials, the vaccine has good safety and immune effect. At present, we can also see from the monitoring results of the adverse reaction monitoring system that the occurrence of adverse reactions after intensified needle inoculation has not exceeded the previous situation, including the occurrence of the first needle and the second needle. Then, from the category of adverse reactions, it is mainly general reactions, and allergic skin rash is the main abnormal reaction among adverse reactions. Of course, if the vaccinated person has any suspected adverse reaction during vaccination, especially booster shots, he should report it to the vaccination doctor in time, so that we can get relevant information as soon as possible and carry out relevant investigation and diagnosis. Judging from the current results, serious adverse reactions are also very rare in strengthening needles.

Qi Rui xing tu xing Ji yuan ET extended range Max version went on the market： supporting urban intelligent driving assistance, selling 249,800 yuan.

On August 10 th, Chery’s Star Road Star Era ET Extended Range Max model ushered in the market today, supporting the city’s intelligent driving assistance function, with a price of 249,800 yuan, which can be regarded as the top model of this series at present.

Qi Rui xing tu xing Ji yuan ET extended range Max version went on the market: supporting urban intelligent driving assistance, selling 249,800 yuan.

In terms of appearance, the new car continues the overall design of the models on sale, with a body length, width and height of 4955 x 1975 x 1698mm.Wheelbase 3000mm, available in Cangling Green, Moonshadow Grey, Starry Night Black, Yunshubai and Rime Blue (optional price is 3,000 yuan).

Qi Rui xing tu xing Ji yuan ET extended range Max version went on the market: supporting urban intelligent driving assistance, selling 249,800 yuan.

In terms of cockpit, the new product is equipped with a 15.6-inch suspended central control panel and a 10.25-inch suspended instrument panel, providing luxury velvet leather sofa seats, 8-way electric adjustment of the main driver’s seat with memory,Co-driver zero gravity seat256-color ambient lights, etc.

Compared with the models on sale, the new car has added intelligent fragrance system, Lion melody Max 2140 23 Yang stereo, silver-plated panoramic canopy, rear privacy glass,NEP city intelligent driving assistanceWait. In addition, the car also supports the optional technology exclusive package with a price of 8,000 yuan, including HUD head-up display system and ISD interactive lights.

Qi Rui xing tu xing Ji yuan ET extended range Max version went on the market: supporting urban intelligent driving assistance, selling 249,800 yuan.

In terms of power, the new car adopts a 400V voltage system and a 1.5T range extender. The maximum power of the motor is 195 kW and the maximum torque is 324 Nm.The CLTC pure electric cruising range of this car is 200 kilometers.The comprehensive cruising range of CLTC is 1518km, and the fuel consumption of WLTC feed is 5.2L/100km.

The extended version of IT House is sold at the following price:

A lecture on culture in Zhou Dynasty; Editors of literary magazines and poems selected by North Island for children.

The Auspicious Culture of Beijing-China People

Time:January 24th (Saturday) 9:30-12:00.

Location:The living room of Ullens Contemporary Art Center, 798 Art District, No.4 Jiuxianqiao Road, Chaoyang District

Guest:Duan Baolin (Professor of Chinese Department of Peking University), Wang Juan (Professor of Folk Literature and Folklore of Chinese Department of Peking University), etc.

　　　　 In addition to the "beaming" in the window grilles, the "fish every year" on the dining table, the "wealth and peace" on the doors and windows of ancient buildings, the "crane deer Changchun" on antique porcelain, the familiar dragon totem and wolf totem, the lion on the Sri Lankan national flag, the "jade cabbage" in the Forbidden City in Taipei, the 9,999 rooms in the legendary Forbidden City, and the "jade cabbage" frequently appearing in the Qing Palace drama. The system of "auspicious culture" is huge. In China people’s life, "auspiciousness" is everywhere. It is inseparable from auspicious culture for spring planting and summer harvest, getting married and having children, celebrating birthdays, opening for business, taking exams in scientific research, promotion, moving to a new house and other major events related to life. What is "auspicious culture" and how did it come into being? How is "auspicious culture" inextricably linked with totem culture and witchcraft culture? How to interpret many mascots and auspicious patterns, and what interesting stories are behind them? What kind of philosophy is contained in "auspicious culture" and what kind of relationship does it have with Confucian culture? What kind of "auspicious" factors are contained in the "annual custom culture"? How to treat "auspicious culture" from the perspective of world culture … The guests will explain.

BeijingCeltic Mist: Ireland as Silent Hill

Time:January 24th (Saturday) 14:00-16:00.

Location:Floor 3, Aegean Shopping Center, No.12 Qisheng Middle Street, Xibahe, Chaoyang District

Guest:Miao Wei (deputy editor-in-chief of Sanlian Life Weekly), Fan Ye (Spanish teacher and translator in Peking University) and Bao Huiyi (Ph.D. student in medieval literature in English Department of Dublin University).

　　　　 This is the end of Europe, which was called Hyperion in ancient times ("winter land"), and it is isolated by waves on all sides. This is the home of swamps, thorns, ruins, dense fog and cliffs. It is a cold fairyland where dwarf fairies and elves steal human children at night. It is the hometown of Ye Zhi, an illusionist, and book of kells, which was born in the hands of angels. Today, it is a country of manuscripts of poetry, literature and medieval painting, and it is also a silent hill like an empty city, which can accommodate people with different endowments to settle their lives. "Everything that really matters gives birth to the abyss of emptiness and silence between things and thoughts." Bao Huiyi, the author of "The Chronicle of Emerald Island", Miao Wei, the writer, and Fan Ye, the scholar, visited the one-way space together and chatted about the literature and human feelings on the Irish Green Island, their respective island experiences, and everything else born in silence.

Beijing-Reviewing the Return of Poetry in the 1980s-Xiong Peiyun’s New Book Sharing Meeting

Time:January 24th (Saturday) 14:30-17:00.

Location:Between the lines on the 1st floor of Confucius Institute Headquarters, No.129 Deshengmenwai Street, Xicheng District.

Guest:Xiong Peiyun (critic), Daxian (writer and poet), Su Xiaohe (financial writer and poet), Zhu Xuedong (senior media person) and Shen Xing (moderator).

　　　　 In the new book "I am the Coming Day", Xiong Peiyun regained his poetry. He believes that after suffering, people have no reason to forget poetry. Therefore, his poems bring readers not only the illusion of the world and poetic aesthetics, but also deep thinking about love, justice, media and human destiny. A book, a reunion with poetry, Xiong Peiyun and his friends share the rationality and poetry in life with readers, and find the long-lost breath of the 1980s.

This is a rumor era, and you need a cold weapon-the "rumor shredder" series of reading clubs.

Time:January 24th (Saturday) 14:30-16:30

Location:Floor 2, Yanjiyou Bookstore, Chuangye Street, Zhongguancun, Haidian District

Guest:Wu Ou (deputy editor-in-chief of Guoke. com), Chen Min (editor of Guoke rumor crusher), Gong Jue (third generation rumor crusher) and Xiaozhuang (co-founder of Guoke Reading)

　　　　　Should I drink the first glass of water in a disposable paper cup? Is chewing gum harmful for a long time? Eating a roast chicken leg is equivalent to smoking 60 cigarettes? Fried chicken breast enhancement is suitable for both men and women … In view of the widely circulated rumors about food, health and anecdotes, we have broken them one by one through professional knowledge and scientific spirit, and the essence of the "rumor crusher" theme station for three years has accumulated into a book. In the lecture, the distinguished guests will introduce this series of books and their publication, and interact with readers and talk about these books around the theme.

Beijing: What are we talking about when we talk about ideal readers?

Time:January 24th (Saturday) 19:00-21:00

Location:One-way space on the third floor of Aegean Shopping Center, No.12 Qisheng Middle Street, Xibahe, Chaoyang District

Guest:Wen Zhen (writer), Zhang Wei (deputy editor-in-chief of GQ magazine), Liang Hong (writer and scholar) and A Yi (writer).

　　　　 "We Fall in Love in Art Gallery at Night" is the latest collection of short stories by Wen Zhen, the youngest new winner of Lao She Literature Award. Wen Zhen’s novels have been praised by many people. A Yi said that her novels are "as bright as Hemingway and as cruel as Zhang Ailing". On the evening of January 24th, Wen Zhen visited One-way Space and shared her writing with the guests.

Beijing ︱ Mu Tao: How was the cultural ecology of Chang ‘an City tempered in Han Dynasty?

Time:January 25th (Sunday) 9:30-12:00.

Location:Multi-function Hall of China Modern Literature Museum, No.45 Literature Museum Road, Chaoyang District

Speaker:Mu Tao (famous essayist, executive deputy editor of Meiwen magazine)

　　　　 Mu Tao lived in Xi ‘an, so let him lead everyone back to the Han Dynasty and review the cultural ecology of Chang ‘an.

Story of Beijing-Japanese-style bento —— On Zhang Yueran × Yoshii Ren’s cooking literature

Time:January 25th (Sunday) 15:00-17:00

Location:PAGEONE, Building 2, South Campus, No.19 Sanlitun Road, Chaoyang District

Speaker:Yoshii Ren (Japanese Chinese writer) and Zhang Yueran (writer)

　　　　 The Four Seasons Lunch by Japanese Chinese writer Yoshinori, who lives in Beijing, introduces us to many practical methods of making lunch dishes, so that we busy people can have leisure to stop and enjoy a healthy and beautiful lunch time, and let us begin to reflect on our lifestyle and the subtle relationship with our families. On the afternoon of January 25th, Yoshii will meet Zhang Yueran and everyone in the New Year, and talk about cooking and literature from their own perspectives.

Beijing Oriental History Salon: Conservatism and China Tradition

Time:January 25th (Sunday) 15:00-17:00

Location:Wansheng Bookstore, No.59-1 Chengfu Road, Haidian District

Guest:Liu Junning (scholar), Liu Suli (Wansheng Bookstore operator, scholar-type calligrapher)

　　　　 If the so-called "conservatives" in Europe and America are liberalism, it seems difficult to find this tradition in China tradition, and "conservatism" is often stigmatized in China’s mass context. So what exactly is "conservatism" and how does it relate to China tradition and the present? Two guests who have deep research on conservatism and liberalism in China will have a wonderful discussion around this topic.

Beijing Ruan Yizhong: The width of life, the depth of image.

Time:January 25th (Sunday) 15:00-17:00

Location:One-way space on the third floor of Aegean Shopping Center, No.12 Qisheng Middle Street, Xibahe, Chaoyang District

Speaker:Ruan Yizhong (photographer)

　　　　 Photography is not only an interest, but also a belief. Ruan Yizhong’s Seven Questions on Photography Aesthetics was published in 1980s, which became the first book of photography that influenced generations of Chinese. In the book, Ruan Yizhong visited Tsun-shing Chen, a professor in Tsinghua University, Taiwan Province, Han Baode, a famous architect and architect, and Huang Chunming, a heavyweight novelist in Taiwan Province, and started the ultimate inquiry of photography aesthetics with cross-border dialogue. Classic return, first share.

Beijing News Reports and the Fate of the Country —— Japanese Newspapers before and after the War of Aggression against China

Time:January 25th (Sunday) 15:00-17:30.

Location:Yufeng Library and Chongwen Hall, Floor 2, New World Woman Department Store, No.7 Dongmaomachang Street, Dongcheng District

Guest:Zhan Jiang (Professor, Department of International Journalism and Communication, Beijing Foreign Studies University), Liu Xiaoying (Professor, Communication Research Institute, Communication University of China), Su Xiaoling (Editor-in-Chief of Beijing Influence Think Tank) and Yan Ying (Professor, Shanxi University)

　　　　 Today, the seventieth anniversary of the victory of the world anti-fascist war, Japanese militarism is showing signs of resurgence, the government is trying to amend the constitution, and right-wing public opinion is rampant. The relationship between news reports and the fate of the country has become a proposition that we cannot but reflect deeply. In view of this, we invite famous scholars such as Zhan Jiang, Liu Xiaoying and Su Xiaoling to share and discuss this topic with readers.

Beijing-The Road of Image and the Awakening of Painting

Time:January 29th (Thursday) 14:00-16:00.

Location:UCCA lecture hall, Ullens Contemporary Art Center, 798 Art District, No.4 Jiuxianqiao Road, Chaoyang District

Guest:Dai Zhuoqun (independent curator and art critic), Wang Yin (artist) and Xie Nanxing (artist)

　　　　 A dialogue to discuss painting from the perspective of image, a forum on painting ontology. Curator Dai Zhuoqun will tell his observation and speculation on current painting problems based on two topics: first, respond to the relationship between current painting practice and China painting tradition through images; As a self-sufficient painting system that has lasted for thousands of years, the history of ancient painting in China has neither realistic tradition nor abstract tradition: the spirit is written by form and the Tao is carried by things, all of which are based on concreteness and image, and the ontology of painting has never been shaken by external factors. The second question to be discussed is the great changes that painting has faced in the past 100 years, especially the impact of the double impact of western learning and becoming a tool on today’s painting. The reason why the two issues are discussed alternately is to break the artificial barrier between the so-called traditional painting and the current painting, and take the image as the entry point to face the painting itself.

Shanghai? Editors of those literary magazines.

Time:January 24th (Saturday) 14:00-16:00.

Location:Sinan Literature House, No.505 Fuxing Middle Road, Huangpu District

Guest:Cheng Yongxin (executive editor of Harvest), Jin Yucheng (executive deputy editor of Shanghai Literature), Fu Xing (executive editor of Germination) and Li Qigang (executive editor of Germination).

　　　　Shanghai has always been an important town of China literature, which has had a far-reaching influence on the development of China literature. In this issue of Sinan Reading Club, the editors-in-chief of three important literary magazines in contemporary China, Harvest, Shanghai Literature and Germination, were invited to have face-to-face communication with literary lovers and talk about those things when they were editors-in-chief of literary magazines.

Shanghai-The Third Series of "Walking in the City" —— The Centennial Changes of Shanghai Church

Time:January 24th (Saturday) 15:00-17:00

Location:2nd Floor, YWCA Building, No.133 Yuanmingyuan Road, Huangpu District

Speaker:Zhou Jin (Ph.D. in Architecture, Tongji University) and Tang Weijie (Associate Professor, School of Humanities, Tongji University)

　　　　 Shanghai introduced Christianity more than 400 years ago, and it is still the city with the largest number of churches in China, with more than 300 new and old churches. The long history and special cultural accumulation reflect the unique cultural connotation of Shanghai style. Dr. Zhou Jin will tell us how these churches come to us step by step, and how they gradually fade away from our vision with the process of urbanization. The stories are brilliant. After a hundred years of vicissitudes, it was condensed between more than an hour of lectures.

Shanghai: The Stage of Circulation, Chekhov Forever —— The Shanghai Sharing Meeting of Chekhov’s Complete Plays

Time:January 24th (Saturday) 14:00-16:30.

Location:D6 Space of Shanghai Drama Art Center, No.228 Anfu Road, Xuhui District

Guest:Cao Lei (famous director and actor), Wu Xiaojun (professor of Shanghai Theatre Academy), Liu Xuyuan (scholar and critic) and Zhou Limin (deputy director and critic of Ba Jin’s former residence).

　　　　 In 2014, the 110th anniversary of Chekhov’s death, Shanghai Translation Publishing House published a four-volume Complete Works of Chekhov’s Dramas, which was the first time in China to present Chekhov’s dramatic works in the form of "complete works" to pay tribute to this great playwright and world-class literary master. 2015 is the 155th anniversary of the birth of this literary master, and the Shanghai Drama Art Center will continue to stage his masterpiece Uncle Vanya, and the sharing party about his drama art has moved from Beijing to Shanghai. On the afternoon of January 24th, let’s get together in the name of commemoration and tribute, read Chekhov and discover Chekhov.

Shanghai-The image of China produced by British cultural industry in the early Victorian era.

Time:January 24th (Saturday) 15:00-17:00

Location:Shanghai Museum of Contemporary Art, No.200 Huayuangang Road, Huangpu District

Guest:Li Tiangang (Professor, Department of Religious Studies, Fudan University) and Wu Liang (critic)

　　　　 The Victorian Age (1837-1901) was the most glorious period of the British Empire. Even in the heyday of economy, military, politics and culture, Britain and Europe did not despise China culture, which was shown in the British copperplate prints on the theme of China in the 19th century. In the lecture, two scholars and artists who are familiar with the history of cultural exchange between China and the West analyze this era one by one, combining with many works in the published Impression of the City of the Qing Empire: British Copper Prints in the 19th Century. They will discuss from different aspects that the production of a nation’s culture for another nation actually relies on the media (prints in newspapers, magazines and books) to communicate through artistic and cultural means. By analyzing the media industry in London, England, we can know that copper engraving, as a part of commercial culture, is not only a new media in the 19th century, but also a Victorian cultural communication. In the 21st century, it has become a classic art of mankind and a museum collection.

Shanghai-the most beautiful flavor of the year in memory-related lectures on the documentary "Taste of China"

Time:January 24th (Saturday) 14:00-16:00.

Location:Moca shanghai in Gate 7 of People’s Park, No.231 Nanjing West Road, Huangpu District.

Guest:Yinghao Huang (documentary director), Zhang Wei (documentary director), Bing Wang (documentary director), Jin Ying (documentary director), etc.

　　　　 With the change of time, many traditional cuisines are gradually fading out of our sight. The gourmet movie Taste China tells the story of the craftsman behind the cuisine through the lens for the first time. Some of them insist on using the ancient method of well salt, some concentrate on making tofu coats soaked in spring water in their hometown, and some even make the most elastic Chaozhou beef balls by constantly beating them by hand. These challenges to the taste of China on the tip of the tongue stem from craftsmen’s persistence in traditional cooking and production techniques.

Debate on the Three Kingdoms by a Group of Confucians in Shanghai —— Appreciation Meeting of the Newly Arranged Comic Book Romance of the Three Kingdoms of the last American edition

Time:January 25th (Sunday) 14:00-16:00

Location:Multifunctional Hall, 6th Floor, Shanghai Ancient Books Bookstore, No.401 Fuzhou Road, Huangpu District

Guest:Mao Jian (Professor, Department of Chinese as a Foreign Language, East China Normal University), Luo Gang (Professor, Department of Chinese as a Foreign Language, East China Normal University), Liu Yongsheng (Associate Professor, School of Arts and Humanities, Tianjin Academy of Fine Arts) and Cai Xiaorong (Professor, School of Foreign Languages, Wuhan University).

　　　　 The comic book Romance of the Three Kingdoms, published in the United States, is not only a benchmark in the industry, but also a classic handed down by the public, which has influenced generations since it came out in 1957. On the occasion of the latest edition of the book, four well-known scholars visited the "Boya Forum at Sea" to share their reading feelings about this comic book from the aspects of painting techniques, characterization and story narration, and to discuss how the image culture of the three countries spread the tradition.

Shanghai-Shanghai word "trace" and historical memory in the new period

Time:January 25th (Sunday) 14:00-16:00

Location:Shanghai Museum of Contemporary Art, No.200 Huayuangang Road, Huangpu District

Guest:Jiang Qinggong (designer) and Tang Weijie (associate professor, School of Humanities, Tongji University)

　　　　 What kind of visual appearance will "social production" have in contemporary China, especially in a city like Shanghai? This lecture will cut into the above topics from a special interface-the trace of words. Since modern times, the word "Zi" has been endowed with unique energy in the historical time and space of Shanghai, and it has also generated extremely diverse forms. Printing, commerce, media, technology, capital, revolution, advertising, consumption, design, production … Every force field will leave traces of the word running in it.

Chen Yanqiao and Luxun.

Time:January 25th (Sunday) 14:00-16:00

Location:Shanghai Long Art Museum (West Coast Pavilion), No.3398 Longteng Avenue, Xuhui District

Speaker:Le Rong (Deputy Director and Researcher of Shanghai Luxun Memorial Hall)

　　　　 In 1930s, Lu Xun made outstanding contributions to the healthy development of new woodcuts in China. He edited and selected albums, organized "woodcut workshops" and held related exhibitions, and also kept close contact with artists. The speaker will explain Chen Yanqiao’s life, creation, his connection with Lu Xun and the left-wing culture in China.

Guangzhou ︱ Elegant Madness —— The Story of a Book Lover

Time:January 25th (Sunday) 15:00-17:00

Location:No.383 Tianhe Road, Tianhe District, taikoo hui Shopping Mall, No.383, the upper floor of the subway.

Guest:Chen Yan (translator) and Dai Xinwei (poet and media person)

　　　　 Over the past 500 years, more than 100 yuppies have pursued books wave after wave, thrilling rare book auctions, amazing anecdotes about tales of mystery, and lingering and meaningful book lovers-gentle and crazy dancing, just because of human eternal love for books. The most influential classic of calligraphy in the 20th century, Elegant Madness, was written by Basbain, the authority of western calligraphy, and it depicts the group of ancient and modern book collectors in a panoramic view, paying tribute to the book lovers in the world. In this lecture, Chen Yan, the Chinese translator of the book, and Dai Xinwei, a media person, will be guests together to talk about their interesting reading and book collection as book lovers, and share stories inside and outside the book.

Guangzhou-Poems for children and poems for adults.

Time:January 25th (Sunday) 19:30-21:30

Location:No.383 Tianhe Road, Tianhe District, taikoo hui Shopping Mall, No.383, the upper floor of the subway.　

Guest:North Island (poet), Chen Dongdong (poet), Liang Xiaoman (poet, poetry translator), etc.

　　　　 Poems for Children was personally selected by the poet Kitajima. Fifty-seven poets from different countries and 101 new poems of different styles compiled their own short poems which were most suitable for children to read and comprehend. On January 25th, Chen Dongdong, a representative of North Island and the third generation of poets, and Liang Xiaoman, a young poet translator, will come to Guangzhou to listen to "Poems for Adults" written by small poets in Sky City in person and share their reading and creation with parents and readers.

Guangzhou-Awakening Old Houses-How to Make them Valuable?

Time:January 25th (Sunday) 19:30-21:30

Location:289 Art Space, No.289 Guangzhou Avenue Central, Yuexiu District

Speaker:Tan Jinhua (Associate Professor, Department of Architecture, Wuyi University)

　　　　 In the Confucian cultural circle, where the concept of mansion is attached great importance, traditional architectural collections already have a hot market. Ma Yun took care of the old gardens by the West Lake, and Deng Wendi returned to Beijing to set up a quadrangle … In Jeonju, South Korea, which was certified as an "international slow city", 800 old Korean houses not only rose to sky-high prices, but also affected the development of the whole city through collection, restoration and functional reconstruction. In our China?

Appreciation of Taipei Man by Taiwan Province writer Bai Xianyong.

Time:January 24th (Saturday) 13:30-16:00.

Location:Jiangsu Writers’ Works Museum, 1st floor, Nanjing Library, Daxing Palace, No.189 Zhongshan East Road, Xuanwu District

　　　　 Bai Xianyong, a writer in Taiwan Province, is familiar with his person and writings. He spent his childhood in the mainland, and his memories of this time were transplanted to a group of "Taibei people" who came to Taiwan Province from the mainland. This relatively complex humanistic background created another exploration in his literary creation: the estranged connection between people and their native land. Elegance, abundance, nostalgia, and interest are all just the spread of the statement. The novel is written in a traditional way. Between the lines, a prosperous and lonely "past" slowly unfolds: not only the life itself at that time, but also his unique thinking.

Nanjing: A Humorous Analysis of the Unknown Art History by the Goddess of Western Art History

Time:January 24th (Saturday) 14:00-15:30

Location:Multifunctional Hall of Jinling Library, No.158 Leshan Road, jianye district

Speaker:Qi Si (Editor-in-Chief of Art Circle)

　　　　 The History of Gossip Art tells the little-known privacy of famous artists, penetrates the vast literature and pushes the artist’s real life and inner world, and digs the secrets in the depths of people’s hearts. Although it is all about art and gossip, it is about people’s hearts and lives in reality. Qi Si’s gossip and stories are extremely full of vitality. In her stories, there are beauty who is greedy for money, hero who is lustful, poet Byron who carries the gene of liar and killer, princess Sisi who is troubled by the problem of mother-in-law and daughter-in-law, and Benigni who disfigures her lover because of love and hate …

Behind the contrarian growth of FAW Hongqi： autonomous high-end is gradually becoming a climate

Observation | Behind the counter-trend growth: autonomous high-end is gradually becoming a climate

In the past September, China’s auto market once again handed over a beautiful "report card", and auto production and sales have shown growth for six consecutive months. Against the backdrop of the global auto industry being hit by the pandemic, the rapid recovery of China’s auto market undoubtedly provides a good model for the recovery of the global auto market.

However, under the premise that the domestic auto market is recovering well, the market share of Chinese brand passenger cars has shown a decline, falling to 36.4% from January to September, a year-on-year decrease of nearly 2.3 percentage points.

"The sales performance of Chinese auto brands is directly related to the trend of the auto market in the fourth quarter." An industry expert expressed the above judgment to Securities Times Car Capital.

Securities Times · Car Capital noticed that in the process of major Chinese auto brands struggling to turn around the decline, FAW Hongqi has achieved a contrarian growth that far exceeded market expectations. In September, monthly sales exceeded 20,000 vehicles, an increase of 86% year-on-year. This is a huge contrast with its sales performance in previous years.

Why did FAW Hongqi’s sales rise against the trend? What enlightenment will its growth bring to more Chinese auto brands and even the entire industry? It has become a hot topic in the industry recently.

Thunder reform works

"The competition in the entire manufacturing industry is intense, and it is more organic when it is dangerous. We saw such a prospect in FAW. Your development this year is unique."

On July 23, the top leader of the General Secretary of the Central Committee of the Communist Party of China, the President of the State, and the Chairperson of the Central Military Commission praised the red flag, the representative of the national brand, during a visit to the General Research and Development Institute of China FAW Group.

In the context of the "black swan" epidemic in China’s auto market for two consecutive years, the rise of FAW’s red flag against the trend can indeed be called "the unique scenery here".

A few days ago, China FAW announced sales data in September, Hongqi brand sales reached 21,500, an increase of 85.9%; 1-9 cumulative sales of 130,000, an increase of 104.4%. In 2019, Hongqi brand sales achieved nearly 600% year-on-year growth, cumulative sales exceeded 100,000.

Compared with the sluggish sales performance in earlier years, these two sets of data are like a "shocking reversal". What exactly did the Hongqi brand rely on to achieve a breakthrough against the trend? This has not only become a hot topic within the automotive industry, but also a hot topic for some investors.

An Qingheng, director of the China Automobile Industry Advisory Committee, told Securities Times Car Capital that the soaring sales of FAW Hongqi are closely related to its internal reforms in the past two years.

In September 2017, Xu Liuping, chairperson of FAW Group, who had been in office for less than two months, launched the Thunder Reform and adjusted the Hongqi brand to be directly operated by the group headquarters.

"This time the reform movement is particularly large. The original FAW Technology Center has been delisted, but the R & D General Institute, the Modeling Design General Institute, the New Energy Development Institute, and the Intelligent Networking Development Institute have been established respectively." An employee of FAW Group headquarters told Securities Times Che Capital on condition of anonymity that after the new organizational structure was completed, the group also carried out a "all stand up and compete for posts" personnel reform, and more than 4,000 cadres and employees at the headquarters had to be re-hired through competition.

At the beginning of 2018, the previous system reform quickly bore an important fruit – China FAW released the new Hongqi brand strategy. It is worth noting that at this press conference, China FAW called out the sales target of Xinhongqi, that is, 100,000 units in 2020, 300,000 in 2025, and 500,000 in 2035.

"Although the industry has not publicly discussed the sales target set by Xinhongqi, there are still many doubts." An Qingheng told Securities Times Car Capital that practice has proved that this series of reform policies has effectively promoted the development of Hongqi. Objectively speaking, Xu Liuping, as the helm of the company, played a key role.

An industry insider told Securities Times Car Capital that although the market share of Chinese brand passenger cars has declined and most of them face challenges, in general, there is still a strong entrepreneurial spirit in the industry, and the overall reform atmosphere is strong. Each brand is seeking transformation in line with the "new four modernizations" of the industry.

"It should be said that the revival of the Hongqi brand has exported a positive sample to the Chinese auto industry." An Qingheng believes that the successful transformation of Hongqi has brought inspiration to more independent brands and provided an upward path for reference.

Who is buying the Red Flag car?

"I was in my early 30s this year and bought a Hongqi H5 in 2019. At that time, I mainly liked the design and configuration of this car. You can’t enjoy this configuration by buying a joint venture car at the same price." Mr. Zhang, who lives in Zaozhuang, Shandong Province, told Securities Times Car Capital that in addition to high cost performance, what he values most is the overall tonality of the Hongqi brand. "Driving a Hongqi car, you seem to be very stable, and you have more face and personality," Mr. Zhang said.

Observation | Behind FAW Hongqi's contrarian growth: autonomous high-end gradually becoming a climate

Previously, people’s impression of Hongqi models was mostly "inspection cars" or concierge executive cars, which seemed to have little direct connection with the market. But with the launch of Hongqi H5, H7, HS5, HS7, H9 and other models in the past two years, this existing "stereotype" is gradually disintegrating.

A person close to China FAW told Securities Times Car Capital that according to his understanding, there are generally two types of consumers who buy Hongqi brand models. One is the more emotional and supportive, and the purchase of Hongqi cars is very national pride; the other is the more trendy consumer group. In recent years, the products launched by the Hongqi brand are more recognizable and can meet the personalized needs of consumers who pursue "different".

Pan Helin, executive dean and professor of the Digital Economy Research Institute of Zhongnan University of Economics and Law, told Securities Times Car Capital that the Hongqi brand has a deep historical sedimentation, and in this round of reform, FAW has made a good excavation of the value of the Hongqi brand. More importantly, the current market has undergone tremendous changes, and consumers’ car purchase preferences and habits are changing and becoming more diverse. This fundamental change in consumption trends will bring opportunities to Chinese car brands.

Indeed, in recent years, the rise of the national tide, Li Ning boarded the New York Fashion Week, the Forbidden City lipstick was snapped up, the white rabbit toffee, and the leap white shoes ushered in the red… Buying domestic products has become an emerging trend. Some analysts have pointed out that the rise of the national tide is not only related to the rise of young consumer groups and changes in consumer trends, but more importantly, it is closely related to the overall rise of national cultural self-confidence. Consumers can find a sense of satisfaction and belonging by purchasing domestic products full of cultural connotations.

The same is true of returning to the auto industry. At a Hongqi brand 4S store on Yaojiayuan Road in Beijing, a customer looking at the car told Securities Times Car Capital: "In recent years, Chinese brand models have improved in terms of design and product quality, especially the technology configuration is quite awesome. Driving Chinese brand models makes me feel quite proud."

Observation | Behind FAW Hongqi's contrarian growth: autonomous high-end gradually becoming a climate

Securities Times Car Capital noticed that even on weekdays, the Hongqi 4S shop is very busy, with consumers constantly coming to see the cars, and most of them are family units. "If it is on weekends, there will be a lot of consumers around every exhibition car, and there will be a queue when entering the cockpit to see the interior." Sales staff at Beijing Longze Hongqi Automobile Sales Co., Ltd. told Securities Times Car Capital.

In the most prominent position in the exhibition hall of this Hongqi 4S store, there is a Hongqi H9 that has just been listed. The above sales staff told Securities Times Car Capital that the new car has only been on the market for one month, and the order will be queued. At present, the most advanced configuration will take two months, and the personalized configuration will take almost half a year to pick up the car.

Observation | Behind FAW Hongqi's contrarian growth: autonomous high-end gradually becoming a climate

From little attention to ordinary consumers to monthly sales of 20,000 vehicles, the Hongqi brand has really moved to the end point market and completed its self-transformation.

"High-end is the right move!"

In the past period of time, some independent brands relied on price advantages to seize the market, and sales performance was also very good. But after a careful study of the pricing system of Hongqi’s main models, it will be found that "winning at a low price" is not the path chosen by Hongqi. Take Hongqi H7 as an example, its official guide price is 252,800 yuan – 317,800 yuan, and the newly listed Hongqi H9 has a guide price range of 309,800 yuan – 539,800 yuan. Obviously, the "200,000 yuan pricing ceiling" that continues to plague independent brand brands is being broken by Hongqi.

The salesperson in the Hongqi 4S store told Securities Times Car Capital that buying Hongqi’s new models does not require a price increase to pick up the car, which is a hard and fast rule of the manufacturer. However, Hongqi also rarely engages in promotional activities, and the price is relatively firm.

"Hongqi basically does not engage in promotions, and our discounts are more reflected in after-sales." The above-mentioned salesperson told Securities Times Car Capital that the purchase of Hongqi owners enjoys a lifetime free warranty service. At the same time, at the level of used car replacement, Hongqi can give the same value preservation rate as other luxury brands, relieving consumers of car replacement troubles.

Pan Helin said that in recent years, the Hongqi brand has made great efforts in marketing and channel construction, especially through the digital management model to transform the service chain, which has provided important support for the growth of sales.

It is not difficult to see that the re-started Hongqi brand is fully positioning itself as a luxury brand. In fact, many industry authorities have automatically included the Hongqi brand in the luxury brand camp in the process of ranking the sales list of automobile companies. In September, Hongqi successfully exceeded the monthly sales of 20,100 vehicles with 21,500 sales performance.

Industry insiders believe that compared with other independent brands, Hongqi’s high-end road has a natural brand advantage. An Qingheng told Securities Times Car Capital that the competition in China’s auto market is very fierce at present, and some mid-to-low-end enterprises have been gradually eliminated by the market, but independent brands, including, and so on, continue to move up and carry out high-end transformation. In his opinion, Hongqi’s sales have risen sharply against the trend, which further reflects the strength of Chinese auto brands and fully verifies the importance of high-end independent brands.

Shengang Securities analysis pointed out that the current Chinese auto brand products are no longer limited to low-price competition, and the idea of brand upward is becoming more and more obvious. Among them, higher profit levels are the driving force for brand upward.

Securities Times Car Capital learned that, taking Volkswagen Group as an example, the profit level of Volkswagen Group’s Volkswagen brand in 2019 was 4.3%, while the profit margin of its luxury brand was nearly twice that, reaching 8.1%, and the more luxurious brand reached 16.2%.

At the same time, Shengang Securities also analyzed that the solid growth of China’s automobile market in recent years has provided a solid foundation for Chinese automobile brands to move up the brand, and has also brought sufficient capital and technology accumulation space to enterprises.

However, An Qingheng also stressed that China’s auto market is very large, with both high-end and low-end markets. Companies should target precise market segments according to their own positioning. At the same time, whether it is high-end or low-end, the most important thing is to improve product quality. This is the foundation for building brand power and influence.

Wanda Film reorganization, Wang Jianlin Wang Sicong father and son cash 2.70 billion, is to collect money or cut meat？

Original title: Wanda Film reorganization, Wang Jianlin Wang Sicong father and son cash 2.70 billion, is to collect money or cut meat?

Author/Jia Yang, Chihiro

When the class A share film and television company was lamenting in the capital battle, Wanda Film, which had been suspended for nearly a year, threw out a restructuring plan – priced at 11.619 billion yuan and purchased 96.83% of Wanda Film and Television.

It seems that it is the sale of Wanda’s assets "left hand to right hand", but a discerning person can see the key to the problem at a glance: Wang Jianlin and his son have cashed out?

Entertainment CapitalAfter carefully analyzing the transaction structure, we found that the truth is not so simple.

It is not so much "cashing out" as "making a profit", and this is bound to go through a complex game of interests and multiple compromises.

In theory, Wang Jianlin and his son can indeed cash out nearly 2.70 billion yuan in the reorganization. But this is not their initiative, but triggered the relevant regulations of the Securities Supervision Commission on the short-term operation of major shareholders in the secondary market, and had to take cash. In addition, the money is not only paid in 3 years, but also stipulates strict gambling terms. Assuming that Wanda Film and Television does not complete the bet, 100 million less than the target, Wang Jianlin and his son will pay the listed company 1.30 billion…

Not only that, the price of Wanda Film and Television’s injection (about 13 times PE) is far lower than the current market price of film and television companies (24 times PE), and even lower than the valuation of the previous round of pre-IPO financing.

You know, the pre-IPO of Wanda Film and Television was still in early 2016, coinciding with the valuation peak of the film and television capital markets. Wanda’s bosses only sent a Moments, which easily raised billions of funds.

Now, film and television stocks are facing a cold winter, and Wang Jianlin’s demands are also very clear, and contradictions are divided into priority and priority. Advancing the listing of Wanda Film and Television as soon as possible is the first priority. It is necessary to reduce the valuation and obtain rapid regulatory approval, and use high cost performance to win the active endorsement of secondary market capital, so as to ensure the safety of the entire group’s funds.

After all, this is the rational and cold Wang Jianlin, not Jia Yueting who "runs blindfolded".

Wanda Film’s predecessor was the listed company Wanda Cinema (which had acquired Time Network), while Wanda Film and Television is mainly Wanda’s film and television production business, which has not been integrated into the listed company.

As early as 2016, Wanda Film and Television had a plan to inject assets into a listed company. At that time, the asset package also covered the legendary film industry that Wanda had just acquired. It was necessary to sell it to a listed company at a 37.20 billion price. But under the harsh environment of capital markets, in the end, Wanda voluntarily gave up.

This wait is two years.

This time, the injected asset package excludes the "big loss-making" Legendary Film Industry, and adds the new media Eslite (Wanda’s TV drama production asset, the production of "Breaking the Sky" is about to be broadcast).

Due to the change in assets, the transaction size has dropped significantly from the previous 37.20 billion to 11.60 billion.

In this merger, the listed company Wanda Film will purchase the equity of Wanda Film and Television shareholders through cash and issuance of new shares. After injecting Wanda Film, Wanda Film and Television made a performance commitment of 3.228 billion yuan in cumulative net profit for three years.

When the announcement came out and saw the following agreement, many people in the market tut-tut: The Wang father and son have cashed out!

Wanda Film said in the announcement that the underlying asset consideration held by Wanda Investment is 2.693 billion yuan, which is paid by Wanda Film in cash; the underlying asset consideration held by other parties is paid by non-public issuance of shares.

This Wanda investment is carried out by Wang Jianlin and Wang Sicong father and son through the shareholding, the two people together hold 100%. In theory, Wang Jianlin father and son can cash out nearly 2.70 billion yuan in the restructuring.

But in fact, taking cash may be a no-brainer.

According to Article 47 of the Securities Law, directors, supervisors, senior managers, and shareholders who hold more than 5% of the shares of a listed company shall sell their shares in the company within six months after purchase, or buy them again within six months after sale, and the proceeds therefrom shall belong to the company, and the company’s board of directors shall recover the proceeds.

What does this mean? That is to say, in secondary market stock trading, the Securities Supervision Commission does not allow major shareholders to buy and then sell, or sell and then buy within six months. This triggers the Securities Supervision Commission’s short-term trading rules.

According to the conditions in the announcement, in order to get the 2.70 billion yuan, the Wang father and son need to meet the following conditions:

First, 2.70 billion paid over three years.After the delivery, the listed company paid 1 billion yuan to Wanda Investment; after the first annual report, paid 900 million yuan; after the second annual report, paid the remaining 792,885,650 yuan transaction consideration.

Second, the cash payment transactions of Wanda Investment are tied to the gambling agreement.According to the announcement, before the payment of the second and third installments, if the performance commitment party Wanda Investment fails to complete the performance commitment and needs to compensate, Wanda Film will directly deduct the corresponding amount from the price.

Wanda Film board secretary Wang Huiwu further explained to Entertainment Capital that this compensation is not equal, but has an amplification effect. According to the amplification formula announced in the announcement, assuming that Wanda Film and Television has a difference of 100 million in 2018 to complete the bet, then Wanda Investment needs to compensate the listed company for 1 divided by 3.20 billion, and then multiplied by 12 billion.

In this process, Wanda Investment not only cannot easily cash out, but also has to bear some risks for other shareholders.

Since Wanda Film and Television has 21 shareholders in this transaction, under normal circumstances, if Wanda Film and Television does not complete the bet, each shareholder should compensate the listed company according to the proportion of equity held. However, according to the announcement, this is equivalent to Wanda Investment holding only 22% of Wanda Film and Television’s shares, but it bears 100% of the compensation liability. As long as the bet is not completed, it will be compensated by the major shareholders.

Referring to the announcement of Oceanwide Holdings in early 2016 (purchasing 6.61% of Wanda Film and Television for 1.058 billion yuan), it can be estimated that the valuation of Wanda Film and Television at that time was 16 billion. And the asset package of this acquisition added New Media Eslite (valuation 1 billion) and Mutual Love Interactive (valuation 259 million),The overall valuation has instead fallen to 12 billion.

There are old investors in the stock bar who commented that sending it to the listed company at this price is completely a loss-making deal. No wonder this time it is only buying 96.83% of the shares instead of 100%. The remaining 3.17% of shareholders may be "nail households" who feel that the price is too low and will not sell.

Wanda Film and Television’s valuation value in this transaction is 12.002 billion, the initial carrying value is 5.08 billion, and the value-added rate is 136.25%. This value-added rate is not high in the film and television industry. In terms of the review required for the acquisition of listed companies, it is about 13-15 times the level, while Wanda Film and Television is installed into Wanda Film at 13 times the valuation. After the class A share media sector fell sharply, PE still has 24 times.

It is worth noting that, in addition to Wanda Investment, the other 20 investors, the private equity investors gave up the opportunity to cash out, the most obvious reason is that the valuation is too low, and it is more cost-effective to hold the shares of listed companies to share the later rising dividends.

Huace insisted on part of Wanda Film and Television’s equity in the first quarter of 2017, and received a return of 18 million yuan according to media reports

Entertainment CapitalIt has been discussed in depth before,The capital of the film and television industry is experiencing a ebb period in the past two yearsIt is not surprising that the valuation at that time has shrunk today. The initiative to lower the valuation is also to reduce the resistance in terms of supervision and promote the injection of assets into listed companies as soon as possible.

This is not a good time to list or set an increase. The entire class A share has been in a state of trade war + tight capital panic recently, and film and television stocks are one of the most obvious sectors for capital flight.

Shenwan cultural media sector has declined by more than 20% since the beginning of the year.

Zeng Maojun, president of Wanda Film, told Entertainment Das Kapital that no one can predict the trend of the capital markets. You think it is a bad time, and some people think it may be a good time. For leading enterprises, it is always good. Because the industry is not good, it means that the industry may be reshuffled. Who is likely to concentrate better resources? It must be the leader of the industry. Just like the Baijiu industry crisis brought about by the prohibition of alcohol gave birth to the trillion-dollar market value of the leader Moutai.

Concentrating resources at industry lows is an enterprising enterprise, and injecting assets during capital lows, as mentioned above, is the financial pressure behind the enterprise. Wanda Group’s real estate business is not very smooth when it returns to class A shares and film resources are injected into listed companies. The pressure on related repurchase agreements is great.

Wanda Commercial promised in September 2016 that if it failed to list on class A shares within two years, it would buy back a total of 14.41% of its shares and pay 10% to 12% annual interest. When Wanda Group purchased Legendary Pictures in January 2016, it promised that if it failed to inject Legendary Pictures into Wanda Film’s listing within 12 months, investors would receive a 15% annual interest return. Despite changes to the follow-up agreement, pressure from investors has been ongoing.

Winning the support of investors with a restructuring plan that cuts its own meat and gives profits, and relieving the repurchase pressure, for Wanda, it is to solve the main contradiction first and then consider the secondary contradiction.

In order to ensure the fairness of the transaction, the two sides made a bet. Wanda Film and Television promised that the net profit in 2018-2020 shall not be less than 888 million, 1.069 billion and 1.271 billion. If the profit does not meet the standard, Wanda Investment will compensate the listed company according to the method agreed in the agreement.

With the profitability of Wanda Film and Television, is this bet high or low?

In 2016, Wanda Film and Television’s net profit was 364 million; in 2017, the net profit was 597 million. According to the 64% net profit growth rate in 2017, Wanda Film and Television’s net profit in 2018 can reach 979 million. What’s more, it has been disclosed in the announcement that Wanda Film and Television achieved 407 million net profit in the first quarter of 2018, and completed 45.83% of this year’s gambling commitment in just one quarter.

But it is worth noting that in the first quarter of this year’s report, Wanda Film and Television completed a total of 4.38 billion box office, and only one "Detective Chinatown 2" contributed 3.38 billion box office. In the second half of this year, or even next year and the next two years, whether it can continue to produce such a explosion is uncertain.

Wanda film and television how to complete the 3-year 3.128 billion performance bet? Zeng Maojun gave two major plans.

The first is to increase the number of movies, and to increase the non-box office revenue part of the movie revenue. In his opinion, no one can guarantee the box office of every movie, but 10 movies can have the probability of profitability, as long as the number is enough, it can spread the risk.

Secondly, it relies on TV series and games to make up for the income instability brought by film projects. This is also the reason why it is committed to loading the previously acquired company New Media Eslite into the listed company.

"The Wanda Film and Television team doesn’t do TV dramas, we do functional segmentation, and in the future TV dramas will be done by the platform of New Media Eslite. But all IP can form a linkage between movies, TV and games," Zeng Maojun said.

For example, the TV series "Breaking the Sky" produced by Wanda Film and Television has now been completed and is being posted productin. It will be broadcast on Hunan Satellite TV and Tencent platforms this year, and some profits have been locked in. At the same time, the TV series has planned a second and third season in addition to the first season, as well as movies and games with the same IP.

That is to say, in addition to getting the purchase price of the drama on the broadcast platform in advance, Wanda Film and Television will also enjoy the game sharing rights, movie box office sharing rights, derivatives sharing and many other benefits of "Fighting Sky". Even Wanda Film and Television has started planning the theme park of "Fighting Sky".

In addition to "Fighting the Sky", Zeng Maojun also revealed a series of web dramas, movies, games, and theme parks. For example, "Tang Tan" also started the development of web dramas and anime this year; "Dragon Hunting" series of games and theme parks, there will be a different form of IP project every year or two in the future.

Since Disney recently announced the acquisition of Fox, one of the reasons is to control the streaming video platform Hulu and compete with Netflix, which has surpassed Disney in market value. The threat of streaming media to traditional entertainment giants is imminent. Wanda Film and Television has also begun to explore streaming media in addition to its original business.

Zeng Maojun said that it will launch an online cinema chain and cooperate with film and television copyright holders in the mode of sharing accounts, which will be launched within this year.

Wanda’s acquisition of Legendary Pictures was seen as a landmark deal for Chinese capital to attack Hollywood.

If you count the valuation of Legendary Pictures alone, in early 2016, Wanda Group spent 3.50 billion dollars when it acquired, which was about 23 billion yuan at that time.

When Wanda Film and Television first announced the loading of a listed company in 2016, in addition to the production business of Wanda Film and Television itself, it also included the legendary film industry acquired by its Qingdao Film Investment Company and the film and television base Qingdao Movie Metropolis. The valuation at that time was 37.20 billion.

But soon after, Wang Jianlin said in an interview with the Financial Times that Wanda planned to separate Legend from its listing plans because Legend’s performance in 2016 was not satisfactory.In fact, Legendary Pictures has been acquired before two consecutive years of losses totaling 5.87 billion yuan, debt of more than 9 billion yuan.

The Sino-US co-production blockbuster "The Great Wall" released at the end of 2016 is a film jointly produced by LeTV Pictures, Legendary Pictures and Universal Pictures. It cost 150 million US dollars, and finally the world is about 1.20 billion. But neither the content nor the box office has met market expectations. Wanda’s expectations are that the global box office is 3-400 million US dollars.

The Great Wall.

After being acquired by Wanda, Legendary Pictures performed mediocre, with two consecutive CEOs leaving.

Even if it is at risk, Wanda will consider divesting Legendary. The main reason is that after the acquisition of Legendary Pictures by Wanda, the number of movies per year is relatively small, about 2-3, which is relatively risky.

For example, this year, Legendary Pictures participated in the production of "Jurassic World", and the investment accounted for 25%. Now the box office of this film has 620 million US dollars. When encountering such a hit, the performance may be very good, but when encountering a poorly performing film, the fluctuation is very large.

Zeng Maojun said that in the future, Legendary Pictures will develop independently and increase the number of movies. In addition, Legendary Pictures will also increase some TV drama business and strengthen cooperation with Time Warner and Universal Pictures.

Today’s Wanda Film is strengthening its entire layout from Wanda theaters to film and television production.Before the transaction, Wanda Film was mainly engaged in cinema investment and construction, cinema film distribution, cinema film screening and related derivative businesses, and its main business was concentrated in the downstream of the film and television industry chain.

Through this transaction, the company’s main business will expand to the investment, production and distribution of movies and TV series, as well as the distribution and operation of online games, and build "five business platforms integrating cinema end point platform, media marketing platform, film and television IP platform, online business platform, and film game interactive platform". Wanda Film can accelerate the pace of transformation into a pan-entertainment platform company.

So it seems that Wanda Film and Television’s ambitions are indeed not small.

Under the influence of the PPT project in the past two years, many companies have been afraid to release film orders during the Shanghai Film Festival. However, at Wanda Night, Wanda Film and Television announced 30 work plans in one go, including 9 domestic films, 6 co-productions, 4 animation works, and 11 TV series. For example, online dramas such as "Tang Detective" and "The Story of Kings in the Western Regions".

This year, Wanda Film and Television also launched an elite + talent training program. The first phase of screenwriter training is called the Future Master Workshop. So far, the screening training has been completed, and the contract has been signed, and the first phase of incubation has been completed. "We cooperate with industry celebrities, including well-known domestic screenwriters and Hollywood teams. We hope to train about 40 screenwriters every year in the next five years or so," Zeng Maojun said.

In addition to offline development, Wanda is also exploring online cinema business. But for the value of streaming media, Wanda Film’s perspective is still: content is king. Zeng Maojun is more optimistic about the Mango TV model. He believes that as long as there is good content, the video platform can be established in the short term. One or two variety shows will raise the market value of Mango TV to 10 billion.

This seems a bit conservative compared to Disney, which Wanda regards as a role model and rival.

A few days ago, Disney announced the acquisition of Fox. According to US media analysis, in addition to content assets, Disney has a 30% stake in Hulu in Fox’s hands, plus its own 30% stake, and can control Hulu after the merger is completed. In the major reform of the department in March this year, Disney has specially opened a department responsible for streaming media business.

But in Mr. Zeng’s view, Disney is more interested in Fox’s offline theme parks and vast IP library than Hulu. Wanda Pictures also does not want to buy BAT-owned streaming sites such as "Aiyouteng", but does its own streaming media. Zeng Maojun said that different forms of online platforms have survival space. Wanda will be different from other platforms. The main purpose is to divert traffic and divide accounts, and it will be combined with film marketing. That’s all.

Throughout last year, Wang Jianlin broke down, selling assets and reducing liabilities.

In July 2017, Wanda sold tourism and hotels to Sunac and R & F, and this agreement alone reduced debt by 44 billion yuan and recovered funds by 67 billion yuan. In Wanda Group’s 2017 work summary, Wang Jianlin revealed that assets at cost were 700 billion yuan, a decrease of 11.5% year-on-year. For this year’s plan, Wang Jianlin said that Wanda Group will use all capital means to reduce corporate liabilities, including the sale of non-core assets, equity transactions under the premise of maintaining control, and cooperative management of other people’s assets. "Wanda Group will never have any credit default in the world!"

So after entering 2018, Wanda Group continued to "sell, sell, sell". In addition to selling London and Australian hotel assets, it also transferred the equity of Wanda Commercial and Wanda Film, and introduced strategic investors respectively. While withdrawing funds, it delayed the pressure for Wanda Commercial to return to A and Wanda Film for restructuring.

With the help of this series of arm-breaking and slimming actions, Wanda has safely landed from the danger of the capital chain being questioned in the second half of last year and the dual killing of stocks and bonds. In June this year, Standard & Poor’s adjusted Wanda’s rating to stable, and Moody’s also adjusted Wanda Commercial’s rating outlook from negative to stable. Fitch confirmed Dalian Wanda Commercial Management’s BB + rating, with a stable rating outlook, and removed the negative watch list.

The cut to promote the reorganization of Wanda Film is part of Wanda Group’s overall strategy of exchanging small for big. Wang Jianlin said in Wanda Group’s 2017 work summary that this year’s goal is to promote transformation, accelerate the pace of light assets, and form a new pillar industry. The first is the film and television industry.

Wanda Film board secretary Wang Huiwu also told Entertainment Das Kapital: Wanda Group did not want to put a high valuation of things into the listed company, the bigger the industrial chain is the consideration. Wanda Group makes a lot of profits, is to make this thing, not to say how big the valuation.

For more exciting content, follow Titanium Media’s WeChat account (ID: taimeiti), or download the Titanium Media App.

The fuel consumption is as low as 5L, BYD Han DM-i is exposed, the design remains unchanged, and the price is lowered by 20%.

BYD’s successful transformation in just a few years can not be separated from its massive investment in the field of new energy.

In recent years, the benefits have gradually emerged. Blade batteries, super hybrid DM-i, etc. have become brand-new synonyms for BYD, and BYD has also won the favor of friends. BYD, on the other hand, is unmoved and concentrates on expanding its product matrix to seek more market share.

No, on the day of the release of BYD Song (parameter picture) Pro DM-i, the road test spy photos of BYD Han DM-i were exposed on the Internet. I have to sigh that BYD’s speed is too fast, which is not to give friends a chance.

According to the exposed road test spy photos, the appearance of Han DM-i is almost the same as that of the models currently on sale, with some adjustments only in the details. According to the previous application information, the new car will be equipped with a DM-i super hybrid system consisting of a 1.5T engine, while the Han DM currently on sale is equipped with a DM-p plug-in hybrid system. Compared with the two cars, Han DM-i is obviously better in fuel economy.

In addition to the difference in power, the appearance of the Han DM-i is also different from that of the Han DM model. In addition to the obvious difference in the logo in the lower left corner of the tail, the taillight part has also been replaced with a newly designed taillight group shape, although it is still a penetrating taillight, but the overall shape is more slender.

Combined with the declaration drawings submitted by BYD to the Ministry of Industry and Information Technology, Han DM-i continues the exterior design of Han DM models, and the front part continues the design of the models currently on sale. The large-size hexagonal air intake grille has formed a "big mouth" visual effect. The grille is decorated with lattice structure of chrome-plated elements, which gives people a very strong visual impact. The top of the grille is consistent with the cash, and a thick chrome-plated strip with the "Han" logo is on both sides.

The side part of Han DM-i is still designed with multiple waistlines, thus creating a slender outline of the vehicle, and the "Long Lin" decorative plate at the rear window triangle is also preserved, which well reflects the exquisiteness of the new car.

As the biggest highlight of this change, the dynamic performance of Han DM-i is undoubtedly the biggest highlight.

Han DM-i will be equipped with a super hybrid system composed of the same 1.5T engine as Tang DM-i. The power performance can refer to the powertrain of the current Tang DM-i. Of course, BYD will not rule out the power adjustment of Han DM-I in the later period, but the general data is still the same. The maximum power of the current Tang DM-I is 102kW, and the maximum power of the motor is 145kW. Although compared with the 2.0T engine of BYD Han DM currently on sale, correspondingly, the fuel consumption performance of Han DM-i in the feed state will be reduced, which is more in line with consumers’ demand for low fuel consumption.

After all, the biggest advantage of BYD’s DM-i hybrid system is obviously the low fuel consumption performance of the vehicle under the feed fuel consumption. Although there is no relevant information on the fuel consumption of DM-i models at present, referring to the comprehensive fuel consumption performance of BYD’s Tang DM-i as low as 5.3L100km, this is obviously very rare for a big guy who is positioned in a medium-sized SUV, and the high probability of fuel consumption of BYD’s Han DM-i will be stabilized at around 5L.

Finally, let’s look at the price. Combined with the official guide price of the current BYD Han DM plug-in hybrid model of 21.98-23.98 million, the BYD Han DM-i exposed this time is expected to be lowered in terms of price, further lowering the price threshold. It is estimated that the starting price will be controlled at around 170,000, and the reduction rate will be around 20%, so as to enhance the competitiveness of its own products.

On the whole, the Han DM-i launched by BYD this time is obviously more suitable for home use than the previous Han DM. After all, in today’s background, car companies have gradually begun to abandon models with high displacement, and BYD Han DM-i is obviously more suitable for the current consumption trend with the blessing of super hybrid DM-i and blade batteries. As for BYD Han DM, there is a high probability that it will be retained. After all, some consumers still prefer powerful models.