Image source: Shanghai Stock Exchange official website

The company develops, produces and sells molecular diagnostic reagents and equipment integrated products based on this, focusing on precise diagnosis, effective prevention and control, and personalized diagnosis and treatment of pathogens in the fields of reproduction, breathing, digestion, blood, food, environmental safety, etc. provide the solution.

Picture source: company prospectus

Financial data shows that the company’s revenue in 2018, 2019, and 2020 were 69,343,400 yuan, 99,168,100 yuan, and 250 million yuan, respectively; during the same period, the corresponding revenues were -32,0512 million, 3,379,200 yuan, and 61,376,500 yuan respectively. After the non-deduction, both 2018 and 2019 lost money.

In 2020, the issuer will realize RMB 249,903,400, net profit of RMB 61,376,500, net profit after deduction of RMB 53,281,600. Based on the company’s latest external situation and the valuation of comparable companies in domestic and overseas markets, the issuer expects the valuation to be no less than RMB 1 billion.

The issuer’s selection criteria for listing is Article (1) stipulated in Chapter 2.1.2 of the “Shanghai Science and Technology Innovation Board Stock Listing Rules”: the estimated market value is not less than RMB 1 billion, and the net profit in the most recent year is positive and operating The income is not less than RMB 100 million. This fundraising is planned to be used for industrialization R&D projects of precision diagnostic reagents and smart equipment, and marketing network construction projects. Picture source: company prospectus Rendu Biotech is backed by Suzhou Qiming, Yida Talent, Jinxin Venture Capital, etc. Rendu Biotech frankly stated that the company faces the following risks: (1) New product development risks The issuer’s in vitro diagnostic industry is a typical technology-driven industry. The research and development of new products has the characteristics of strong technical integration, large capital investment, and long cycle. Whether the company can continuously develop new products that meet market needs is whether the company can One of the key factors for maintaining a leading position in industry competition. Therefore, in the process of new product development, the issuer may face the risk of R&D failure due to deviations in the R&D direction, slow R&D process, and high R&D investment costs. (2) Risk of falling product prices According to the current relevant national regulations, the highest price standards for non-profit medical institutions that enter the “Clinical Testing Project Catalog” are set and adjusted by the local price authorities. With the deepening of the national medical reform and the further adjustment of relevant policies and regulations, the relevant competent authorities may lower the prices of some test items. With the further deepening of my country’s medical treatment, the company’s product sales prices may be affected by policy factors such as bidding policies and hospital procurement regulations. In addition, with the increase of market participants and the intensified competition, the price of corresponding diagnostic reagent products will also be lowered. If the company cannot continue to increase R&D investment and launch new products in the future, or is affected by factors such as government price adjustments, bidding policies, and market competition, the company will face risks related to product prices. (3) New technology market acceptance risk During the reporting period, the issuer focused on RNA molecular diagnostic technology and products, and its main business was R&D, production and sales of molecular diagnostic reagents and equipment integrated products based on the RNA real-time fluorescent constant temperature amplification technology (SAT) platform. Compared with the DNA molecular diagnostics that appeared in the 1980s and 1990s, RNA molecular diagnostics appeared later, and the current market awareness is low. The proportion of RNA in the field of infectious molecular diagnostics in China is only 6%, and the penetration rate is relatively low. 25% in developed markets in the United States is lower. At the same time, unlike the development path of DNA molecular diagnostics used by comparable listed companies in the same industry, the issuer focuses on RNA molecular diagnostics. If the company’s market development and academic promotion are insufficient in the future, the market structure and needs change, the company cannot successfully achieve market promotion, or the clinical market fails to be more familiar with and accept the company’s RNA molecular diagnostic products, this will result in the company’s market development, which may affect the company. The future and sales growth will have certain adverse effects. (4) The risk of performance fluctuations caused by the new coronavirus epidemic At the beginning of 2020, the new coronavirus epidemic broke out in my country. The issuer successfully developed a new coronavirus 2019-nCoV nucleic acid detection kit with high-throughput automatic detection equipment based on a systematic technology platform and an efficient R&D system. And through the emergency approval of the State Drug Administration, the registration certificate was obtained on March 26, 2020. Combined with the company’s fully automatic nucleic acid detection and analysis system, it can realize the automatic, integrated, and on-the-go detection of new coronavirus detection. It is an enterprise that realized the automatic detection of new coronavirus early in China, and it is rapidly mass-produced for the prevention and control of new coronary pneumonia. make a contribution. The company’s new crown detection kit revenue in 2020 will be 68,507,400 yuan, accounting for 27.41%. With the advent of the new crown vaccine and the effective control of the epidemic by government departments, the company’s new crown detection kit income is at risk of decreasing. Hospitals at all levels across the country actively responded to the call of the state in the early stage of epidemic prevention and control, and invested a large number of medical staff and health resources in the epidemic prevention and control battle, causing their normal diagnosis and treatment business to be suspended. Since the company’s reproductive tract and intestinal products are mainly used in hospital reproductive departments, pediatrics and other departments, during this epidemic, in order to concentrate efforts to fight the epidemic and reduce the risk of cross-infection in the hospital, the above departments were partially or completely closed, resulting in The sales of related products of the company will be affected to a certain extent in the short term. At present, the new coronavirus epidemic has been effectively controlled nationwide, but the impact of foreign epidemic outbreaks, imported cases and virus mutations may lead to greater uncertainty in the epidemic, which will cause fluctuations in the company’s business performance growth. (5) Risks of investment projects with raised funds The funds raised by the company this time are mainly used for industrialization R&D projects of precision diagnostic reagents and intelligent equipment and marketing network construction projects. The construction of the above-mentioned fund-raising investment projects will enhance the company’s in vitro diagnostic reagent product structure, and at the same time, through the update and upgrade of instruments, it will effectively enhance the market competitiveness of the company’s products, increase the company’s sales scale and thereby enhance the company. Although the company has conducted a prudent feasibility demonstration for the raised funds investment projects, due to the large amount of funds raised, if the raised funds are not in place as scheduled, the project implementation organization is poorly managed, or the downstream market demand changes adversely, the raised funds will be affected. The construction progress and investment benefits of capital investment projects have an adverse impact. In addition, the issuer’s raised funds investment project will significantly increase R&D investment and marketing team building expenses in the early stage of construction. There is a risk that the company’s profitability will decline due to increased expenses. At the same time, the company’s net assets will increase significantly. Since it takes a certain amount of time from the beginning of the implementation of the fund-raising investment project to produce the expected benefits, the company has the risk of a decline in the return on net assets

report

Tourism crisis Later restart the River cruises

Status: 19.06.2021 3:29 p.m.

River cruise ships are back in Bavaria – because of the infection protection with fewer guests on board. The long absence of the ships has left deep marks along the routes.

By Sebastian Grosser and Martin Gruber, BR

A melody sounds on deck of the river ship “NickoSpirit” before cruise director Ferdinand Selig starts his speech. “Welcome to Regensburg, dear passengers.” In front of Selig is a piece of paper with several names, which are in turn marked with different colors. “Please remember your grouping and don’t forget your mask when you leave the ship,” he says. At this point, several passengers have already gathered at the entrance of the ship to go ashore for a tour of the city. A maximum of 14 people are allowed in a group. This is part of infection protection.

Million revenues before Corona

The “NickoSpirit” is the first river cruise ship to be moored in Regensburg this year. Usually the season starts in spring. But Corona put the once booming tourism industry on the back burner in 2021. The Regensburger Stadtwerk, which manages the pier, is expecting around 100 landings this year. Similar to 2020, in the first Corona year, the city is expected to turn over only 100,000 euros with the ships. For comparison: in 2019, more than 1000 ships moored in Regensburg, with which the city was able to bring in a turnover of 1.3 million euros.

Hard times for tour guides

Michaela Ederer is already waiting for the guests at the Donaulände, where the “NickoSpirit” moored. The tour guide has longingly awaited the first ship and its passengers. “The last few months have been really tough,” she says. “The majority of the tour guides work as freelancers and rely on the tour guides and the sales they generate with them.”

In the peak of the pandemic, around 7500 tour guides nationwide were unemployed, says Ederer, who is also on the board of the Federal Association of Tour Guides in Germany. Many of her colleagues should have tapped their retirement reserves. “We are therefore very happy,” she says, referring to the arrival of the first passengers.

Passengers: No problem with infection protection

While the guests with audio guides in their ears follow the tour operator’s blue tablet to explore the historic old town of Regensburg, cruise director Selig talks to the passengers who have stayed on the ship. Unless they are sitting in the restaurant or on the summer deck, they all wear mouth and nose protection. Many of the mostly older passengers do not mind the infection control measures. “The guests are used to it,” says Selig. For the provider of cruise travel, however, creating a suitable hygiene concept was a bit of a challenge: In order to maintain the distance, only 143 of the otherwise 170 passengers are currently allowed on board. There is even a certified test center on the “NickoSpirit” so that everyone on the ship can be tested every 48 hours.

End of the cruise boom

While the provider Nicko had previously relied mainly on a German-speaking audience, other shipping companies, such as the largest industry association IG Rivercruise, have a harder time BR demand notifies. In particular, sales of shipping companies that specialize exclusively in guests from overseas such as the USA or Australia fell by 100 percent last year. But also those ships that were able to sail between July and October 2020 recorded losses of between 60 and 70 percent.

“The Queen would declare the year 2020 to be an ‘annus horribilis’. The IG Rivercruise joins this,” said the Industry association. The forecast for 2021 is no better. “The season is short,” said IG Rivercruise. Individual providers have therefore filed for bankruptcy, but had already got into financial difficulties before the pandemic.

Souvenir shops before the end

The lack of cruise business also brought Gabriele Winklmeier into existential difficulties. The 58-year-old has a souvenir shop in the old town of Passau. The ship tourists from the USA and France would actually be their main business. Due to the pandemic, hardly anything happened last year, according to Winklmeier. “This year, too, things have been bad so far: no buses, no ships, no customers. Now the first cruise ships are arriving, but they all dock outside.” She will probably give up her souvenir shop – after 17 years.

Winklmeier looks back with sadness: “Three years ago all hell was going on here. 300 guests as early as eight in the morning. You could still do business there. Today it can happen to me that I don’t have a turnover of 30 euros.” The guests of “NickoSpirit” will probably no longer buy souvenirs in Winklmeier’s shop. The cruise on the river ends in Passau. Several buses are waiting along the landing stage where the suitcases are already lined up. Cruise manager Selig, who has to say goodbye to his guests after nine days, draws a positive balance: “It was a relaxed trip, even if it seems unrelaxed. We were well prepared with the tests on board. Many guests were vaccinated or recovered. That is natural also a great relief for us. “

On June 21, according to news from the Sichuan Regulatory Bureau of the China Securities Regulatory Commission, Huatai United Securities recently announced that the domestic semiconductor IP supplier Chengdu Ruichengxin Micro Technology Co., Ltd. (hereinafter referred to as “Ruichengxin Micro”) IPO and Progress report on the guidance of listing on the Science and Technology Innovation Board (Phase 1). On January 29, 2021, Huatai United Securities and Ruichengxin Micro signed the “Chengdu Ruichengxin Micro Technology Co., Ltd. and Huatai United Securities Co., Ltd. Initial Public Offering Counseling Agreement.” The Sichuan Supervision Bureau submitted the application documents of Ruichengxin Micro’s IPO counseling and filing. According to data, Ruichengxin Micro was established in 2011, dedicated to the design and authorization of integrated circuit intellectual property (IP) products, and provides one-stop services, with the goal of becoming a world-class integrated circuit IP provider with innovative capabilities and trustworthiness. Relying on independent semiconductor IP, we provide customers with platform-based semiconductor IP authorization services and one-stop chip design services. The products include ultra-low power analog IP, embedded non-volatile memory IP, and high-performance radio frequency IP. Semiconductor IP has applied for more than 200 patents at home and abroad, serving hundreds of integrated circuit design companies around the world. Products are widely used in 5G, Internet of Things, smart home, automotive electronics, smart power supplies, wearables, medical electronics, industrial control and other fields. As early as 2016, Ruichengxin Micro launched a complete set of ultra-low power analog IP design solutions based on 55nm process, and cooperated with partners to develop the world’s first MCU chip with the lowest power consumption of 7nA; in 2017, Ruichengxin Micro and China’s top 3 integrated circuit design companies jointly developed the world’s lowest power consumption, mass-produced NB-IoT chip; in 2018, based on the domestic Foundry 153nm, CMOS process, successfully verified LogicFlash that meets the requirements of automotive electronics Grade0, and tested more than 200,000 times Erasing, high temperature resistance 175℃, service life up to 11 years. This technology has also been adopted by international automotive electronics companies for many years, and has registered the LogicFlash trademark in the United States and Japan. On April 28, 2020, Ruichengxin Micro announced the completion of the acquisition of Chengdu Shengxin Micro Technology Co., Ltd. (SYDTEK), a wireless communication chip designer. According to the progress report of the sci-tech innovation board listing guidance work, the actual controller of Ruicheng Xinwei is Xiang Jianjun, with a shareholding ratio of 35.59%. The shareholders include Zhuhai Apex Microelectronics Co., Ltd., BYD Co., Ltd., Suzhou Juyuan Oriental Investment Fund Center, Datang Telecom Investment Co., Ltd. and other enterprises and investment institutions. It is worth noting that, recently, the Ministry of Industry and Information Technology announced the list of recommended and supported national-level specialized and new “little giant” enterprises and national (or provincial) public service demonstration platforms for small and medium-sized enterprises (the first batch of the first year), Ruichengxin Micro also successfully made the list. Editor: Xinzhixun-Rurouni Sword

However, there are still old people who have aspirations for thousands of miles. Although they have reached the legal retirement age, they still continue to lead the company to gallop in A shares.

According to incomplete statistics from the IPO Daily, as of June 15th, in the A-share market, there were 479 actual controllers who were male, over 60 years old, and who were also chairman of the company.

“After 50” the most

Among the 479 “senior-aged” male actual control persons, 228 were 60 to 64 years old, 159 were 65 to 69 years old, 65 were 70 to 74 years old, and 75 to 79 years old. The number of people is 19, and the number of people between 80 and 84 years old is 8.

Data source: IPO daily self-made table

IPO Daily statistics found that the number of people aged 60 to 69 years reached 387, accounting for 80.79%. In other words, among the above-mentioned 479 men, more than 80% are under 70 years old.

According to the age, there are 107 people born between 1960 and 1969, 313 people born between 1950 and 1959, 57 people born between 1940 and 1949, and a total of people born between 1930 and 1939. 2 people, The proportion of “post-50s” is as high as 65.34% .

Data source: prospectus

It should be pointed out that Li Yunxiao, the actual controller of Sun Cable, and the actual controller of Haitian Precision Zhang Jingzhang is 84 years old this year and is the oldest actual controller and chairman of the A-share listed company .

Half from these 6 industries

According to statistics from the IPO Daily, the above-mentioned 479-controlled companies are mainly distributed in 47 industries. Among them, there are 50 pharmaceutical manufacturing companies, 42 electrical machinery and equipment manufacturing companies, 37 computer, communications and other electronic equipment manufacturing companies, 37 general equipment manufacturing companies, 37 special equipment manufacturing companies, and automobile manufacturing companies. There are 36 companies in the industry, 239 companies in total, accounting for 49.9%.

This also means that nearly half of the men who have reached the legal retirement age but still serve as the actual controller and chairman of the company come from the above six major industries.

Data source: IPO daily self-made table

The market value exceeds 6775.1 billion yuan

So, what is the performance of the above-mentioned 479 male-controlled companies?

According to statistics from the IPO Daily, as of June 15th, the total market value of the 479 male-controlled listed companies totaled 6,775.135 billion yuan. Among them, the market value of Mindray Medicine controlled by Li Xiting is as high as 566.694 billion yuan, which is the company with the highest market value among the above-mentioned 479 companies; while the market value of Haitian Flavour Industry controlled by Pangkang has also exceeded 500 billion yuan, reaching 553.743 billion yuan. Afterwards.

The IPO Daily News further inquired and found that as of June 15, there were only 18 of more than 4,300 A-share listed companies with a market value of more than 500 billion yuan.

In addition to the two companies mentioned above, Zhifei Biotech controlled by Jiang Rensheng and Sany Heavy Industry controlled by Liang Wengen both have a market value of more than 200 billion yuan. Rongsheng Petrochemical controlled by Li Shuirong, Enjie Holdings controlled by Paul Xiaoming Lee, and Cao Dewang controlled. The market value of Fuyao Glass, Huayou Cobalt controlled by Chen Xuehua, Huali Group controlled by Zhang Congyuan, and Cobos controlled by Qian Dongqi are more than 100 billion yuan.

Data source: IPO daily self-made table

In other words, Among the companies controlled by the above-mentioned 479 men, 10 companies have a market value of more than 100 billion yuan .

Worth more than 150 billion yuan

Let’s take a look at their worth.

Due to the large number of people reaching the statutory retirement age, the IPO Daily selected those male actual controllers who were over 70 years old.

Flush shows that as of June 15, a total of 92 male actual controllers and chairman of A shares are over 70 years old. The specific shareholding ratio is as follows:

Data source: IPO daily self-made table

The IPO Daily reported that among the 92 men mentioned above, the value of the listed company’s equity held by many of them reached 100 million yuan, as follows:

Data source: IPO daily self-made table

Overall, The above 92 men are worth more than 340 billion yuan in total by holding equity in these listed companies. .

Among them, Li Xiting has reached 156.862 billion yuan through holding equity in Mindray Medical, Gan Zhongru and Cao Dewang have exceeded 20 billion yuan through holding equity in Ganli Pharmaceutical and Fuyao Glass respectively, and Li Rucheng, Wu Yiling, and Zhang Congyuan have also passed The equity value of the company it controls exceeds 10 billion yuan.

Law for more women on boards Which companies now have to act

Status: 11.06.2021 3:55 p.m.

In future, women must be given greater consideration when filling executive board positions: the Bundestag has passed the “second management positions law”. What are the rules now? And how many companies does this affect?

What was decided?

The new minimum number of women on executive boards applies to listed companies with equal co-determination and more than 2,000 employees. In future, you must have at least one woman on the board if it has more than three members. The minimum participation only applies when a new position is filled. “An appointment of a board member in violation of this participation requirement is void,” says the law. There are stricter rules for companies with a majority shareholding by the federal government: In general, if there are more than two members of the management team, there should be at least one woman. This applies to Deutsche Bahn AG or German air traffic control, for example. In addition, the fixed minimum quota for the Supervisory Board is to apply, which is 30 percent.

interview 03/08/2011

Other listed or co-determined companies that do not fall under the requirement should in future have to justify if they plan for the board of directors without women. If this does not happen, there is a risk of fines. With the law, the reporting obligations for companies are tightened accordingly. However, the Federal Council still has to approve the law.

How many women sit on company boards?

More than half of the large listed companies in Germany have no women on their boards, as a study by the Women in Supervisory Boards Initiative (FidAR) shows. The 160 groups in the stock market indices DAX, MDAX and SDAX as well as the 26 companies listed on the stock exchange with equal co-determination (as of March 22nd) were evaluated.

background 02/17/2011

Accordingly, in 103 of 186 corporations examined, not a single woman sits in the boardroom. At the same time, the average proportion of women on executive boards rose to 13 percent compared to the previous year, which corresponds to a plus of 2.3 percent. In the 200 companies with the highest turnover in Germany, the proportion of women on executive boards is 11.5 percent, as a study by the German Institute for Economic Research (DIW Berlin) shows. In the past year, the proportion of women on supervisory boards in the currently 106 companies that are subject to the mandatory women’s quota was an average of 35.9 percent.

Which companies need to improve?

According to the FidAR study, the number of companies that would be affected by the law passed today is 66. Of these, 25 had no women on the board of directors as of the reporting date. This also applies to the engine manufacturer MTU and HeidelbergCement, two companies from the DAX. The situation will soon change at the building materials company. At the end of May, HeidelbergCement announced that Nicola Kimm will take over the newly created position of Chief Sustainability Officer from September 1st. She is then responsible for the issues of sustainability and new technologies.

05/28/2021

The course has also been set at MTU: The company has formulated the goal of a women’s quota on the Executive Board of 25 percent by 2022. The Executive Board is currently made up of four men. According to the study, Knorr-Bremse was also one of the companies that would have to make improvements. That has now happened: Claudia Mayfeld has been in charge of the newly created Executive Board department for Integrity and Law since May 1, 2021. According to the authors of the study, Adidas, Bayer, Eon, Infineon, Fielmann and Südzucker have each appointed women to their boards since the bill was announced.

On May 19, there were media reports that Huawei was trying to acquire the electric vehicle division of local automakers, including seeking to control the electric vehicle brand of BAIC Blue Valley New Energy Technology-Arcfox ARCFOX. And just the day before, Huawei just announced new personnel adjustments and appointed Yu Chengdong as the CEO of BU, a smart car solution. Therefore, as soon as the news of Huawei’s stake in BAIC Jihu came out, the outside world was speculating whether this was the first “fire” after Yu Chengdong took office. However, Huawei quickly refuted the rumors and said there was no such incident. On May 24, Huawei issued a “Statement on Huawei Not Building Cars” (hereinafter referred to as the “Statement”) stating, “The company spokesperson has repeatedly clarified the false rumors about Huawei building cars. Today, we To reiterate: Huawei does not build cars. This long-term strategy has been made clear in 2018, and nothing has changed.” Data source: Dongcai Choice, China Automobile Association, IDC Yang Jing drawing Huawei quickly refutes rumors Huawei stated in the “Statement”: “We believe that what the industry needs is not Huawei branded cars, but Huawei’s accumulated ICT technology capabilities for more than 30 years to help car companies build future-oriented cars, that is, to provide car companies with Intelligent networked auto parts based on Huawei’s ICT capabilities.” In fact, Huawei has repeatedly stated its position in public on the issue of “Huawei does not build cars.” At the Huawei 2020 performance conference on March 31 this year, Hu Hou, then Huawei’s rotating chairman, said in response to a reporter’s question that Huawei is positioned as a supplier of smart auto parts in the Internet of Vehicles, car cloud, smart driving and other fields. To make competitive products, the goal is to help auto companies “build good” cars and build “good cars.” Subsequently, at the Huawei Global Analyst Conference on April 12, Huawei’s rotating chairman Xu Zhijun reiterated that “Huawei does not build cars.” He said frankly that Huawei had talked with many large automakers in Japan, Germany, and China before, and found that what they needed was not a Huawei brand car, but Huawei’s ICT software capabilities, which could help them build and sell good cars. At that time, Xu Zhijun revealed that Huawei had selected three car companies, BAIC, Changan and Guangzhou Automobile, as strategic partners to support them in building their respective sub-brands. Cars that use Huawei’s autonomous driving solution can only use the HI logo with Huawei’s authorization, which represents Huawei Inside. In terms of car sales, Huawei chose to cooperate with Jinconcelis, a subsidiary of Chongqing Xiaokang Group. Huawei stated in the “Statement” that in this cooperation, Huawei has become a supplier of electric components for Cyrus SF5 and HiCar cockpit components. At the same time, in order to solve the problem of survival of Huawei authorized mobile phone retail stores in the case of a significant reduction in Huawei mobile phones, Huawei is supporting some retail stores to sell this car, and retail stores can obtain corresponding revenue. Xu Zhijun said bluntly that the automobile industry is one of the most disruptive industries in the next decade, and it is also the business that Huawei currently values ​​most. “There are 30 million vehicles in China each year, and there will be more in the future. Even if we only do the Chinese market, it is enough to get an average income of 10,000 yuan from each vehicle each year. Therefore, after media reports on May 19 that Huawei was trying to acquire the electric vehicle division of a local automaker, including seeking to control the electric vehicle brand of BAIC Blue Valley New Energy Technology-Arcfox ARCFOX, Huawei quickly refuted the rumors, saying that there was no such thing. thing. Huawei’s auto concept stocks fell across the board After Xu Zhijun announced that Huawei would cooperate with BAIC, Changan and GAC, the stock prices of BAIC Blue Valley, Changan Automobile and GAC Group rose sharply. Among them, the cooperation between Huawei and BAIC was the first to be exposed. On April 6, the official Weibo of Huawei Smart Car Solutions released a dynamic, showing that Huawei and Jihu Automobile will release a new generation of smart luxury pure electric cars on April 17th-Alpha S, the official Weibo of Jihu Automobile Simultaneously published an article called “See you in Shanghai. It is understood that the Polar Fox Alpha S Huawei HI version is the first luxury smart electric car with the HI logo. It has the highest level of Huawei’s automatic driving level. It is equipped with a super central supercomputing ADCSC, 3 lidars and many sensors. On the second day (April 18) that Huawei cooperated with BAIC to launch the Alpha S Huawei HI version, Huawei released the “Octopus” autonomous driving platform and other car and machine products. On April 21, Huawei further announced its participation in the downstream sales of Cyrus. Cyrus Huawei Smart Selection SF5 will be stationed in the Huawei Mall and the Cyrus Experience Center. In addition, on April 23, Cyrus announced that Huawei’s smart selection SF5 has been sold for two days and orders have exceeded 3,000 units. Huawei’s intensive actions in the field of smart cars have almost led the hot spots of the entire automotive industry during this period. With the blessing of Huawei Automotive Concept, the stock prices of BAIC Blue Valley, Changan Automobile, Guangzhou Automobile Group, and Xiaokang have soared. At that time, there were rumors that Huawei might participate in BAIC Blue Valley or Xiaokang shares in the future. The capital market has been enthusiastic. Up to now, the share prices of BAIC Blue Valley and Xiaokang shares have doubled compared with the beginning of April. On May 24, Huawei’s “Statement” broke the speculation of the outside world. Emphasize that Huawei has not invested in any car companies so far. In the future, it will not invest in any auto companies, nor will it hold or participate in shares. Huawei said that all future talks about Huawei building cars or participating in the auto manufacturing industry are rumours and should not be trusted. As soon as this “Statement” came out, the “Huawei Auto” concept stocks fell across the board, and the decline further expanded in the afternoon. As of the close of May 24, BAIC Blue Valley and Changan Automobile have dropped their limits, while GAC Group and Dongfeng Motor have fallen by more than 4%. Daily economic news

On May 24, Huawei issued the “Statement Regarding Huawei Not Building Cars” stating that the company spokesperson has repeatedly clarified the false rumors about Huawei building cars. Today, we reiterate that Huawei does not build cars. This long-term strategy was clear in 2018, and nothing has changed. Huawei also stated that it will not participate in investing in any car companies, and BAIC (600166), Changan (000625) and Guangzhou Automobile Group (601238) will only serve as strategic partners and use Huawei’s solutions to help them create future-oriented car. The cooperation with Jinconcelis is also to solve the current survival problem of Huawei authorized mobile phone retail stores. On the 24th, affected by the “Huawei does not build cars” statement, Huawei’s automotive concept stocks fell across the board. Changan Automobile and BAIC Blue Valley fell by the limit. Xiaokang shares (601127.SH) plummeted by more than six points, and Guangzhou Automobile Group fell by as much as six points. 4.32%. Huawei denies building cars again In the “Statement on Huawei Not Building Cars,” Huawei said: We believe that what the industry needs is not Huawei brand cars, but Huawei’s accumulated ICT technology capabilities over 30 years to help automakers build future-oriented cars. , That is, to provide car companies with intelligent networked auto parts based on Huawei’s ICT capabilities. So far, we have not invested in any car companies. In the future, it will not invest in any auto companies, nor will it hold or participate in shares. In the future, all discussions that Huawei builds cars or participates in the auto manufacturing industry are rumours and don’t be credulous. We have chosen BAIC, Changan and Guangzhou Automobile as our strategic partners to support them in building their respective sub-brands. Cars that use Huawei’s autonomous driving solution can only use the HI logo with Huawei’s authorization, which represents Huawei Inside. Regarding the cooperation between Huawei and Jincon Sailus, a subsidiary of Chongqing Xiaokang Group, Huawei is a supplier of electric components for Celes SF5 and HiCar cockpit components. At the same time, in order to solve the problem of survival of Huawei authorized mobile phone retail stores in the situation where Huawei’s mobile phones are greatly reduced, Huawei is supporting some retail stores to sell this car, and retail stores can obtain corresponding benefits. It can be seen from Huawei’s statement that Huawei’s positioning of itself has not changed, and that it is a provider of automotive intelligent network components. Huawei will not directly enter the vehicle manufacturing industry, and rumors about “Huawei making cars” in the market are all false. Huawei said that it can help car companies build good cars. Of course, Huawei has the strength to fulfill its promises. Huawei has launched a comprehensive layout around the three core areas of “smart driving, smart cabin, and three-electricity”. On April 18, at the Huawei HI new product launch conference, Wang Jun, President of Huawei Smart Car Solutions BU, said that Huawei will release five new products, covering smart cockpits, computing platforms, radars, autonomous driving open platforms and thermal management systems. “From the perspective of business portfolio and technical solutions, Huawei’s full-stack self-developed almost all core businesses of smart cars, including hardware and software. Tesla’s advantage is the massive trip data of global users, Baidu’s advantage is algorithms, and Huawei’s However, the advantages of the company are all-round, and it can open up the upstream and downstream of the industrial chain. This kind of strength is not possessed by new car-building forces or cross-border car-building technology companies.” Industry insiders analyzed and said to reporters. “Catch up” with Huawei’s car companies Although Huawei has always stated that it will not build cars, rumors about Huawei building cars in the market have been uninterrupted. It was reported on March 9 that Huawei and GAC Group’s new energy vehicle company GAC Aian had begun to jointly develop the next generation of smart electric vehicles. Both parties invested in R&D teams of more than 100 people. After the news was released, on the same day, GAC Group’s AH shares soared collectively, with A shares rising 6.39% and H shares rising 4.26%. At the end of April, there was news that Huawei was negotiating with Xiaokang shares to acquire a controlling stake in Chongqing Jinkang New Energy Automobile, in order to produce smart cars with the Huawei brand. Subsequently, Shen Wei, the secretary of the board of Xiaokang shares, said that the cooperation with Huawei was only in business, and he clearly denied that Huawei will control or participate in Jinkang. And Huawei also said that “there is no such thing.” But even denying it will not affect the performance of Xiaokang shares in the capital market. The share price of Xiaokang shares has risen from around 23 yuan in early April to 66.54 yuan on May 18, which has soared nearly three times. Since the new energy vehicle Cyrus SF5 under Xiaokang shares entered the Huawei Mall on April 19, only one week, the order of Cyrus SF5 reached 6,000. In sharp contrast, the sales volume of SF5 in 2020 is only 732 units. SF5’s weekly sales volume is eight times that of last year’s full-year orders. On the eve of the Shanghai Auto Show on April 17, Huawei and BAIC New Energy Jihu released the first smart car jointly created-Alpha S, officially called the “global new benchmark for autonomous driving.” Since then, BAIC Blue Valley’s share price has risen from about 12 yuan in mid-April to a peak of more than 19 yuan. At the Shanghai Auto Show on April 20, Changan Automobile’s chairman Zhu Huarong revealed that he has teamed up with CATL and Huawei to create a smart electric networked vehicle platform (ie CHN). The plan for high-end smart electric vehicles is on track, and a new high-end brand name is about to come. Announced. On May 20, Changan Automobile issued an announcement to formally rename its holding subsidiary Changan Weilai New Energy Automobile Technology Co., Ltd. to Avita Technology Co., Ltd., and jointly create autonomous and controllable intelligent electric vehicles with Changan Automobile, Huawei and CATL The connected car platform (CHN) creates a rich series of smart car products. On May 21, the share price of Changan Automobile rose 8.46% to close at 25 yuan per share. In the past 40 trading days, the share price of Changan Automobile rose 76%. Although in this process, Huawei has not formally stated its position to build cars, news about Huawei’s participation in car building has been spread out one after another, which has continuously aroused the enthusiasm of the market. As long as car companies have a relationship with Huawei, the market will definitely buy it, and it will have the most direct manifestation in the stock price. And this time Huawei completely denies building a car, which can be regarded as breaking the market’s thinking about Huawei building a car. Huawei’s 2020 annual report shows that its growth has slowed sharply, with annual revenue of 891.4 billion yuan, a year-on-year increase of only 3.8%. In the previous three years, Huawei has achieved a year-on-year growth of about 19%. On April 28, Huawei announced its operating results for the first quarter of 2021. Due to the sales of Honor and the decline in mobile phone sales, operating income fell 16.9% year-on-year to 150.57 billion yuan. Huawei’s overall revenue is expected to face greater pressure in 2021. “The automotive business may be the focus of Huawei’s efforts in the next few years. Huawei needs to find new profit growth points. At the moment when smart cars are in the air, with Huawei’s technical strength, they choose to help automakers build good cars instead of their own. It is undoubtedly a safe and wise choice to build a car in person.” said the industry insider. Editor: Zhai Yanan Editor: Wang Dayong

Debate about retirement at 68 Altmaier cashes in on plans from his advisors

As of: June 8th, 2021 3:33 p.m.

Work until 68 – this proposal from the Advisory Board of the Ministry of Economic Affairs creates massive headwinds. After the rejection of the coalition partners CSU and SPD, Altmaier now expressed himself: The retirement age is currently not an issue. Federal Minister of Economics Peter Altmaier has rejected an increase in the retirement age to 68 years, as recommended by an advisory committee of his house. The retirement age was set at 67 in the first grand coalition “at the suggestion of esteemed colleague” Franz Müntefering (SPD). “It should stay that way, that’s been my opinion for years,” wrote Altmaier on Twitter.

“Suddenly increasing financing problems”

The Scientific Advisory Board of the Ministry of Economics is independent, wrote Altmaier. His proposals are not binding on either the ministry or the minister. The Scientific Advisory Board of the Ministry of Economic Affairs – an advisory body – had proposed a reform towards the retirement age at 68. Because there was a threat of “sudden increasing financing problems in the statutory pension insurance from 2025”. The retirement age cannot be decoupled from the development of life expectancy in the long term.

CSU and SPD against raising the retirement age

The CSU also rejected ideas about raising the retirement age to 68 years. “We reject a later retirement age,” said CSU regional group leader Alexander Dobrindt. In order to make pensions more secure, an “effective reform of private provision is required,” he said. This must be “more successful and efficient,” said Dobrindt. The SPD had previously rejected an increase in the retirement age. He thinks this is the wrong way, said the federal labor minister responsible for pensions, Hubertus Heil, according to a statement from his ministry. The statutory pension is a central promise of the welfare state. It is about recognition of lifetime achievement and security in old age. “Everyone must be able to rely on that.”

“Unsocial, what is proposed there”

SPD parliamentary group leader Rolf Mützenich said that a new regulation for a possible entry age of 68 does not go with the SPD. “Pensioners and the generation that will retire in the next few years must not be further unsettled.” That will also play a role in the federal election campaign. SPD Chancellor candidate Olaf Scholz said: “I stand for the fact that we are not discussing any further increase in the statutory retirement age.” Scholz spoke of a “horror scenario” which should serve to “implement pension cuts for which there is no reason at this time”. According to Scholz, not only are the calculations wrong in the report. “What is being proposed there is also anti-social,” said the minister.

Advisory board proposes retirement at 68

The representatives of the Union and the SPD reacted to an opinion from the Scientific Advisory Board at the CDU-led Federal Ministry of Economics. The Scientific Advisory Board of the Ministry of Economic Affairs – an advisory body – had presented a concept that provides for longer work in old age and a limitation on future pension increases. The proposal mentioned a retirement age of 68 years in 2042. Currently, the rule applies that the age for entry into retirement without deductions should increase to 67 years by 2030. The advisory board warned that the pension system would head for a “financing shock” without further increases.

Employer President: “Lead honestly” pension discussion

Employer representatives were open to the experts’ suggestion. Employer President Rainer Dulger said with a view to demographic development that one should not get into a situation in which there are more service recipients than service providers. “The discussion must be conducted and it must be conducted honestly,” said Dulger. The topic cannot be concluded with stubborn rejection. People who would like to work longer should also be included in the discussion.

DGB and left indignant

The SPD gets a tailwind from its criticism from the German Trade Union Confederation (DGB) and the Left Party. The advisory body wants to “drastically cut pensions, dismantle the welfare state and privatize old-age pensions – all of this to massively relieve employers,” said DGB board member Anja Piel of the “Neue Osnabrücker Zeitung”. She accused the body of announcing the imminent ruin of the state on the basis of a fictitious legal status in order to then justify radical reforms. This is not scientifically based advice, but political propaganda. “From this oblique perspective, those affected are to blame if the pension is not enough: they could have made more private provisions,” said Piel. Left party leader Susanne Hennig-Wellsow spoke of an “asocial Oberhammer.” The left will “defend the rights of pensioners with tooth and nail”. What would be necessary would be a clear pension guarantee that bindingly excludes pension cuts as a result of the corona pandemic, said Hennig-Wellsow.

Government advisory council proposal Will you retire at 68?

Status: 07.06.2021 6:49 p.m.

Advisors to the federal government consider it necessary to raise the retirement age to 68 years. Otherwise, the pension will soon be heading for a “financing shock”. The left reacted indignantly. Advisors to the federal government proposed a reform towards the retirement age at 68 around three months before the general election. There was a risk of “sudden increasing financing problems in the statutory pension insurance from 2025”, predicted the Scientific Advisory Board at the Federal Ministry of Economics on the occasion of its new report on the future of pensions. According to the current legal situation, the age limit for the pension without deductions will be gradually increased from 65 to 67 years until 2029. The proposal could catapult the topic of pensions more strongly into the debates ahead of the federal elections. Because the positions of the advisory board are likely to meet with rejection from the SPD, the Greens, the left and the trade unions. “This is the anti-social Oberhammer,” said left party leader Susanne Hennig-Wellsow with a view to the report. Economics minister Peter Altmaier had to “cash in immediately” the corresponding report from his advisors, “otherwise the pension election campaign will start tomorrow”. The left will “defend the rights of pensioners with tooth and nail”. What would be necessary would be a clear pension guarantee that bindingly excludes pension cuts as a result of the corona pandemic, said Hennig-Wellsow.

“Dynamic coupling of the retirement age to life expectancy”

The experts emphasized that the retirement age cannot be decoupled from the development of life expectancy in the long term. “Instead, the additional years of life must be divided according to a clear rule between working more and receiving a longer pension.” To this end, there should be a “dynamic link between the retirement age and life expectancy”. The relationship between the time spent in work and in retirement should remain constant. According to current projections of life expectancy, such a rule would reach retirement age in 2042 at 68, said the director at the Max Planck Institute for Social Law and Social Policy, Axel Börsch-Supan, who was in charge of the report. The advisory board emphasized in its announcement: “Should life expectancy decrease, the retirement age may also decrease.”

“Sharply increasing subsidies from the federal budget” necessary

By calling for the retirement age to be linked to life expectancy, the committee made a proposal that has been causing waves in the pension policy debates in Germany for years. It is illusory to expect “that higher contributions and a lower pension level can be avoided in the long term”, according to the panel of experts. In the opinion of the advisory board, “sharply increasing subsidies from the federal budget” would have to flow into the pension fund if the valid holding lines for contributions and the pension level were to be maintained. “That would be at the expense of future investments, for example in education, infrastructure and climate protection, and would undermine the sustainability of our social system,” said the chairman of the advisory board, Klaus M. Schmidt, according to the announcement. The advisory board’s proposals also include making existing pensions less dynamic than new pensions when it comes to pension increases.

And recently, he also made Facebook users happy like opening the flag in their stomach when together with friends, he formed a group called “7onez – Free support” to support problems about Facebook and other social networks. . For the purpose of serving the community’s interests, the group will have members who are experienced in Facebook security, and support to recover accounts when locked, especially problems/questions will be supported free of charge. online fees. Hieu PC’s personal Facebook post Facebook Although just established, the group has attracted nearly 6K people, with the introduction “This is a small group of 7onez used to help you improve your security and recover your Facebook, Gmail, Instagram accounts… Free of charge. Supporters will be those who are censored and selected by the 7onez administration.” So if you have problems with account security or your account is locked, just post or inbox will be answered by everyone, support to get back quite quickly and especially can avoid scam cases. Free support group

Maybe d ress code This year is packed with only two colors, so the Baeksang 2021 red carpet is like a Go board when the stars appear in only black and white outfits. Although quite dull, the red carpet is also not short of shining stars with beautiful costumes. Suzy is as beautiful as a goddess with white skin, bouncy and flowing hair in Dior’s Autumn-Winter Haute Couture collection 2019. “The Queen” Shin Hye Sun looks like a princess in a white dress. Simple but impressive and extremely luxurious, is Krystal. Beauty Journey of the Journey Oh Yeon Seo cleverly shows off her perfect curves. “Teacher” Kim So Yeon wears a sexy black dress with a seductive bust, overwhelming many juniors. “Sister Dai” Kim Hye Soo is extremely luxurious, elegant and powerful with a white dress. Park Joo Hyun looks pretty in a black dress. The actress who made an impression through two recent heavyweight titles is Extracurricular (Extra-curricular activities) and mouse . Go Ah Sung wears a simple white dress but is still very beautiful. Lee Joo Young shines on the red carpet with an outfit that combines two colors of white and black, which is commented as an interesting, innovative, and not boring overall. Kim Hyun Soo is gentle and feminine in a lace dress. Kim So Hyun wore a gold dress with a deep neckline that was both charming and elegant, marking a more mature image. Jung Il Woo and Yuri look very good together. Joint movie of both Bossam: Steal The Fate are receiving very positive feedback. Song Joong Ki is handsome and handsome, “faint horizontal and vertical”, does not know what old is. Yoo Ah In is very cool on the red carpet. Lee Do Hyun is handsome and radiant, exuding the aura of a future male god of the Korean screen. New movie Youth of May by Lee Do Hyun is airing. Song Kang is dashing and looks like an aristocrat. Kim Soo Hyun chose a black outfit with striking patterns to avoid boredom, the actor surprised him with long hair and a heart-shaped part of the bangs. Lee Seung Gi is neat and fresh. Lee Seung Gi’s acting in mouse really breakthrough and excellent, has conquered many fastidious audiences. Yoo Jae Suk made an impression with an unusual bow. Lee Jun Ki is still handsome despite the time. Actor Uhm Ki Joon with a gentle smile, no longer a bit cruel like the haunting Joo Dan Tae role in Penthouse . Actor Kim Ji Hoon impresses with his unusually long curly hair. Is the handsome guy ready to play Denver’s role? Money Heist Korean version? JaeJae “plays out” when wearing a bright red outfit with tones with hair in the middle of the white and black “go” red carpet Baeksang 2021.

In the impacted 2020, why can Focus Media quickly recover and get out of the counter-cyclical market? Behind it, how is the industry changing? The other side of the whole line: the “post-epidemic” cycle of full growth From the overall performance point of view, Focus Media has almost become popular across the board. For the whole year of 2020, Focus Media’s revenue scale is basically the same as in 2019, and its profit has increased significantly by 113.55%. Basic earnings per share were RMB 0.2774, a year-on-year increase of 114.04%; the weighted average return on equity was 26.16%, an increase of 12.40% from 2019, an increase of more than 13 percentage points. If you look at it carefully, the fact that the whole line is red is more from the rapid rebound of performance. In the second half of the year, Focus Media achieved revenue of 7.486 billion yuan, a year-on-year increase of 16.6%. The growth in the fourth quarter was even more pronounced, with a single-quarter revenue of 4.222 billion yuan, a significant year-on-year increase of 30.7%. What needs to be noticed is that there are two key trends in the growth of Focus Media. On the one hand, growth is not “assault”. In the first quarter of this year, this growth momentum became more apparent. Realized revenue of 3.593 billion yuan, a year-on-year increase of 85.35%. This aspect means that the epidemic is more like a fog, covering the original performance status. Focus Media is actually in a fast-growing channel. On the other hand, Focus’s growth is not at the expense of operating. In addition to revenue, in 2020, Focus Media’s net profit margin is as high as 33%, an increase of 18 percentage points from 15% in 2019. In the first quarter of 2021, Focus Media’s net profit margin was as high as 38%, an increase of 36%. In addition, for the entire year of 2020, Focus Media’s total assets will increase by 15%, and the net cash inflow from operating activities will be 1.573 billion yuan, an increase of nearly 1 billion yuan over the same period last year. Over the years, Focus Media has continued to net inflows and its operations have become more stable. Revenue growth, better profit margins, and plenty of cash. Under the epidemic, such performance is indeed dazzling enough. What needs to be noticed is that the impact of the epidemic on the advertising industry is very obvious. According to the report “Annual Inventory of China’s Advertising Market in 2020” released by CTR at the beginning of the year, the cost of advertising cases in 2020 decreased by 11.6% year-on-year, which was the largest decline in the past five years. Why can Focus Media achieve a rapid rebound? Deconstructing growth: for effect, but for brand Disassembling the CTR report shows that in 2020, elevator TVs and elevator posters have increased significantly, with 23.8% and 28.9% growth respectively, while other channels have shown a significant decline, and even Internet video advertisements have also experienced a 18.8% decline. The same trend can be seen from Focus Media’s financial report. In 2020, Focus Media’s elevator media business will perform particularly well, taking the lead in achieving a strong recovery. In the fourth quarter, revenue was 3.894 billion yuan, an increase of 47.02% over the same period last year; The annual operating income was 11.576 billion yuan, an increase of 15.19% over the same period last year. Why has elevator TV and elevator posters soared? What are the considerations behind the advertiser’s choice? From the PC Internet to the mobile Internet, online traffic is growing rapidly, and advertisers have been exploring effective conversion paths. Under the traffic dividend, the market is generally under the logic of “traffic is sales”. From variety show sponsorships to on-screen advertisements, from mid-slot advertisements to patch advertisements, the competition for traffic and attention was the focus of competition in the past. However, with the development of the mobile Internet, the market has gradually realized that under the condition of scarce attention, one-sided pursuit of effects is gradually entering a bottleneck. On the one hand, online traffic has gradually concentrated, and the leading companies of each track have gradually gathered a large amount of resources. The price of Internet traffic continues to rise, and the cost of acquiring customers is getting higher and higher. At the same time, users’ awareness of online advertising is declining. When users see advertisements, users often swipe away at the fastest speed. Most traffic advertisements can’t reach consumers deeply, and they have converted but haven’t formed a deep understanding of the brand. In recent years, advertisers have gradually realized the value of brands when chasing traffic. Paying more attention to traffic and brand building, “product-efficiency synergy” has become a major trend. To create “product-efficiency synergy”, the brand is the foundation and the flow is the incremental space. Brand building does not rely on low-price promotions or traffic conversion, but subtle influence. In the process of continuous trial and error, advertisers have gradually found a new paradigm. Online, content marketing has gradually become a sought-after object during the epidemic. Social media represented by “double micro-flick” has used live broadcasts and short videos to deeply plant brands and drive the rise of new brands. Offline, brand detonation in life scenes has become a key link. Continuously and repeatedly expose the brand in relatively closed environments such as elevators and theaters, and rely on digitalization to achieve more accurate placement, and achieve the brand’s rapid “out of the circle”. The latter is the value of Focus. Focus Media’s comprehensive coverage of life scenes can quickly build brand awareness among target user groups. Since May last year, Yuanqi Forest has been advertising on Focus TVC. The first month it sold 260 million is the total of 2019. It was continuously put on September, and the monthly revenue of Yuanqi Forest reached 400 million yuan. There are so many cases. Using Focus Media to achieve all-round exposure of the brand in life scenes, combined with the conversion of traffic effects, can often achieve a multiplier effect with half the effort. The value of Focus Media is being gradually tapped, and if you vote with your feet, growth is a matter of course. “Double Micro, Flick, One Focus”, the new paradigm of the advertising media industry However, why has Focus Media become the advertiser’s choice, and why not other offline agencies? The key lies in several core data in the financial report. According to the financial report, Focus Media has built the largest urban life circle media network in China, and its advantages are constantly expanding. In terms of building resources, as of the end of 2020, the media network of Focus Life Circle has covered about 330 major cities in China. In addition to Hong Kong Special Administrative Region of China, it also covers more than 30 major cities such as Seoul in South Korea, Bangkok in Thailand, Singapore and Jakarta in Indonesia. At the same time, the number of media coverage points of Focus Media declined slightly compared with last year. In this regard, Focus Media stated that the company’s expansion plan has not stopped. The expansion of resource points and the optimization of existing resources are in progress. On the one hand, Focus is continuing to develop a new middle class covering 5 million terminals in 500 cities and 500 million. The goal is actively advancing. On the other hand, the optimization of invalid and low-quality points is also being continuously carried out. From the perspective of market changes, Focus Media’s position as the core position for brand building is becoming stronger. Catalyzed by the epidemic in 2020, the Matthew effect in the advertising market has intensified. Advertisers choose to invest more of their advertising budgets, which may shrink, to head media; on the other hand, traffic dividends disappear, and more advertisers choose to allocate advertising budgets to brands. Diversion. Ipsos recently released “Inventory of Chinese Advertising Slogans in 2020” shows that among the TOP10 popular, highly recognizable and mind-occupying slogans in 2020, 47% of consumers’ cognitive channels originate from TV advertisements, and 56% originate from the Internet. Of the media, 83% comes from elevator media. In addition to perfect scene construction, Focus Media also has continuously optimized delivery effects. In recent years, Focus Media is combining Alibaba’s technological empowerment to continuously promote the process of digital transformation, achieving “network pushability, real-time monitoring, data reflow, and effect evaluation”, which has greatly improved the effect of brand communication. Both accurate and efficient, Focus Media has become an indispensable channel for advertisers. This is also very clear in the financial report. The financial report shows that in 2020, the media customer structure of Focus Elevator will continue to be optimized and stabilized, and customers will cover a wide range of industries such as consumer goods, the Internet, transportation, business services, entertainment and leisure, and real estate and home furnishing. Among them, driven by the massive emergence of traditional fast-moving consumer goods and new consumer goods, the proportion of daily consumer goods customers has grown steadily, ranking first with 35.45%; the rapid development of online medical care, community grouping, corporate office communications and other fields has promoted the Internet The overall high-volume investment of such customers ranked second with 27.13%, a year-on-year increase of 45.92%. Driven by this, Focus Group’s performance in the second quarter of 2021 will continue to grow rapidly, and it is expected to increase by over 86% year-on-year. Wang Xing, CEO of Kantar China and Global President of BrandZ, made it clear: For advertisers and brands, the combination of online and offline, content-based and scenario-based efficient combination, detonated by “double micro, one shake and one focus” Brands will become the most effective paradigm for future communication. This objectively proves that Focus has secured its position as the core brand building. The rapid growth of Focus Media is essentially that this company has seized the development opportunities in the changing times and also kept up with the changes in the advertising media industry. At present, the trend of the media advertising industry is still in the process of strengthening, which also means that the growth space of Focus Media may be larger than we thought.

Video: Nghe An fishermen excitedly earn hundreds of millions each trip from ‘freshly boiled’ squid on the boat After long days of reaching the sea, dozens of large-capacity boats of Quynh Luu fishermen are happy to return because they won large batch of ink. To ensure freshness, squid is steamed right on the boat, so it has high economic value, helping fishermen earn hundreds of million VND per trip. As soon as the ship was on the way to the port, traders left early to wait for the purchase. At 1:00 am, Lach Quen fishing port – one of the largest fishing ports in Nghe An, is crowded with buyers and sellers. Boats also docked in tandem. The joy of working when the boat comes back makes the atmosphere here more exciting. According to the fishermen’s share, on this occasion, although the catch is not too much, the boiled squid product has high economic value, so many boat owners are excited because of profit. The price of squid ranges from 100,000 VND – 140,000 VND / 1 kg depending on different sizes. In general, with small squid (45-50 fish / 1 kg), it costs 100,000 – 110,000 VND, medium-sized squid (30-35 fish / 1 kg) costs 140,000 VND, and larger squid, the price fluctuates up to 160,000 VND / 1 kg. Fisherman Pham Duy Hung in Quynh Thuan commune said: “Thanks to goodness, my boat caught more than 600 kg of boiled squid, not to mention tons of other seafood such as shrimp and other fish still on the boat. My boat sold at the port at the price of 110,000 VND / kg, was more than 60 million VND, the price was good, so the brothers were more excited and motivated. ”Trading at the port area. In just over 1 hour, squid, fish. Shrimp are sold to small traders for the market. Ms. Dinh Thu Hong (Quynh Tien commune) said: “I am a housewife so I pay attention to how to choose and recognize delicious watered seafood. Ready-to-hold steamed squid feels firm, dry and with blotchy film still on the skin is fresh and delicious. ” Steamed squid is available so it’s easy to process, can be re-steamed with soy sauce, sweet and sour roasted, fried with chili lemongrass. It is known that this occasion is the season of squid fishing for fishermen, so after selling all seafood, fishermen are busy preparing raw materials and necessities to go offshore.

Apartments for rent in Ho Chi Minh City are subject to tax In the field of housing, land and real estate transfer, Ho Chi Minh City Tax Department proposes to manage tax collection in apartment rental activities in apartments and buildings. STRENGTHENING MONITORING AND COMBATING TAX LOSS Subjects proposed to collect tax are individuals and organizations that lease apartments, houses, and business premises in apartment buildings; individuals and organizations directly trading in and providing services in the apartment building; individuals and organizations leasing offices. The Ho Chi Minh City Tax Department proposes to pilot the tax collection above in some apartments and buildings in District 11 such as Res 11 Apartment, located at 205 Lac Long Quan, Ward 3; Thuan Viet commercial residential area at 319 Ly Thuong Kiet, ward 15; Bao Gia building, 184 Le Dai Hanh, ward 15; apartment building 70 Lu Gia, 70 Lu Gia, ward 15; Khai Hoan building, 624 Lac Long Quan, ward 5. This unit also proposes measures to prevent loss through management of leasing, collection of land use fees, registration fees, personal income tax in land management activities and real estate business. If approved, the City Tax Department will work with the apartment management board to propose a list of apartment rental households, direct business households in the apartment area; At the same time, coordinate with the local police in reviewing the list of newspapers of temporary residence, temporary absence, list with permanent residence registration, through the Management Board of the apartment building to propagate to owners of apartments with changes about Declaration of temporary residence, self-declaration of tax, and payment of taxes for house and apartment rental is also done; propagating individuals and organizations providing office leasing services to declare and pay property rental tax. Tax authorities should study the appropriate tax rates to encourage renters to file taxes. To do the above work, the tax authority will guide households and individuals that rent out houses, apartments or offices to prepare tax registration and tax declaration documents; instructions on how to electronically submit tax returns and declarations; guide to tax non-agricultural land use; answer questions of taxpayers. In addition, the tax authority will also mobilize individuals, rental businesses and office rentals to provide information on the lease to have a basis for determining and comparing the actual rental price and the declared price. Tax payment of apartments, individuals for rent houses, apartments, office rentals. Thereby, basing on and comparing tax declaration data for real estate transactions in the same area, area, size, and area respectively to take grounds to force taxpayers to declare tax with the correct value. actual assignment. In addition, the Ho Chi Minh City Tax Department requested the authorities to review the cases of land lease in order to have the correct collection regime. In cases where there is a decision on land allocation from the People’s Committee of Ho Chi Minh City but the financial obligations have not been determined, the Department of Natural Resources and Environment quickly determines the financial obligations to collect land use fees. When there is a notice of implementing financial obligations from the Ho Chi Minh City Tax Department but the enterprise has not paid the land use fee, it will be reported to the People’s Committee of Ho Chi Minh City for handling measures. RECOMMENDATIONS TO REVIEW TAX PAYMENTS Most experts in the real estate sector say that: The profit for renting apartments is not high, if based on the total value of investment in this segment. In particular, during the current epidemic outbreak, the rental rates of serviced apartments are low, increasing pressure on homeowners. Mr. Hoa Binh has an apartment for rent in District 10, Ho Chi Minh City that is quite frustrated by this proposal. He said: “My wife and I buy an apartment and have to borrow money from the bank, pay both principal and interest more than 12 million dong each month, while the apartment for rent is only 15 million dong, so only 13.5 million dong / month. If the tax authority calculates 10%, ie the tax rate of 16.2 million, it is almost only enough to repay bank loans interest. The threshold for tax calculation of 100 million VND / year is considered unreasonable, leading to many consequences, they have to circumvent the law to declare rent at much lower prices, change to the form of capital contribution for house loans … legal trouble when a dispute occurs. “Not to mention, there are months when customers pay their houses, have to find new tenants and lose commissions from 50% -100% / month, then this type of apartment investment becomes a loss. In addition, for the money to repair the house when it is damaged or when the apartment is profitable, I have already paid transfer tax. Therefore, the tax authority should study the reasonable tax rate to encourage people who have rental houses to declare tax, “Mr. Hoa Binh said. Many experts also suggested: Currently, the family allowances have been raised to 11 million VND / month (equivalent to 132 million VND / year), but the threshold for calculating tax of 100 million VND / year is not reasonable. That leads to many consequences, they have to circumvent the law to declare rent at much lower prices, switch to the form of capital contribution for home loans … causing many legal troubles when disputes occur. In particular, there are many people who cannot afford the economy, so they have to rent an apartment and rent it out to a cheaper place to live, the balance is used to offset the bank interest … At an apartment for rent in Gold View District 4 Ho Chi Minh City, Mr. Nguyen Minh Quang, a software engineer, worries: the tightening of apartment rental tax as today is very likely, the landlord will increase more money. renting and the pressure of husband and wife is even greater. Especially in Covid’s present occasion, the family’s income has decreased by 25%.

In the midday of April 23, the “A-share first-quarter performance pre-increasing king” Hotview Bio once again rose by the daily limit, the stock price reported 174.13 yuan per share, and the total market value exceeded 10 billion yuan. In the past 9 trading days, there were 6 daily limits, and the stock price has increased by more than 3 times since April.

As the king of pre-increasing A-share performance in the first quarter, Rejing Bio realized a net profit of 660 million yuan attributable to the parent in the first quarter, a year-on-year increase of about 1,200 times. Regarding the reasons for the pre-increasing performance, Hotview Bio issued an announcement stating that the company’s two new coronavirus antigen detection kits have been certified by the German Federal Institute of Medicines and Medical Devices and can be sold in German supermarkets and pharmacies. Affected by the performance forecast, from April 12th to April 19th, Hotview Biotech gained 5 daily limit on 6 trading days.

It is worth noting that the company’s major shareholders violated regulations to reduce their holdings after the stock price of Hotview Biotechnology soared. Rejing Bio announced that in October 2020, shareholders of Fortune Group announced that three companies will reduce their holdings, and the reduction plan will expire on April 9. During the period, a total of 4.57 million shares were reduced, accounting for 7% of the company’s total share capital. The price of the reduction is maintained at around 40 yuan, and the amount of the reduction is 194 million yuan.

After the expiration of the shareholding reduction, the three Dachen companies are still reducing their shareholdings. Rejing Bio issued an announcement on this matter, stating that due to the negligence of the staff to reduce the shareholding procedures, the three companies of Dachen Group reduced their holdings of 1.368 million shares through a centralized bidding transaction, accounting for 2.2% of the company’s total share capital, and 2.2% after the stock price soared. The reduction in holdings is also close to 100 million yuan. (Text | AI Finance and Economics Zhu Quanhong)

Specifically, Techcombank targets 2021 consolidated pre-tax profit at 19,800 billion, up 25.3% compared to the result in 2020. Credit balance is expected to reach nearly 356,200 billion, growth of at least 12%. compared to last year and within the amount allowed by the State Bank. Deposit value (including certificates of deposit for individual customers) is expected to reach VND 334,291 billion, growing at least 14.7% and in line with actual credit growth. Notably, Techcombank targets 2021 consolidated pre-tax profit to reach 19,800 billion, up 25.3% compared to 2020. NPL ratio is expected to be below 2%. Techcombank 2021 shareholders meeting Techcombank’s management said it would improve efficiency by concentrating resources to increase demand deposit balance (CASA), on home buying value chains, real estate and high-income customers. Techcombank will also focus resources on customer-transaction banking platforms; upgrading credit processes; providing the right process for customers, minimizing the time to reach “approval”; analyzing data to gain insights into customers; creating a technological platform for building and implementing specialized financial products and services … At the meeting, Techcombank continued to submit to shareholders not to pay dividends, which meant keeping more than 26,700 billion dong of undistributed profits for business operations. At the same time, the bank continues to submit to shareholders the plan of issuing shares for selected employees (ESOP). Number of shares expected to be issued is more than 6 million shares, selling price is 10,000 dong / share. Shares are restricted from transfer for 1 year. In addition, at this meeting, a new member of the Board of Directors will be elected with the candidate Mr. Ho Anh Ngoc (Chairman Ho Hung Anh’s younger brother). Thus, the number of members of the Board of Directors of the bank is expected to increase from 8 to 9 people. Mr. Ho Anh Ngoc was born in 1982, holds a Master’s degree in economics from Macquarie University Sydney, Australia. He is also a CPA member of the Australian Auditing Association. Since 1/2007, Mr. Ho Anh Ngoc has held many positions at Techcombank, from Deputy Director of Consumer Service Card Center; Director of Ho Chi Minh City Branch; Deputy Head of Wholesale Banking Division and Head of Wholesale Banking in the South, … Currently, he is holding the Southern Representative Board of Techcombank, is the Chairman of the Board of Directors of One Mount Group, Chairman of JSC 1MG Housing, Chairman of JSC One Distribition. In addition, from 1 / 2013-5 / 2018, he was a Vice Chairman / Chairman of the Board of Members of Techcombank AMC. From November 2011 to January 2013, he was Vice President cum General Director of Thao Dien Investment Joint Stock Company, … HA Techcombank aims to make a “huge” profit of nearly 20,000 billion in 2021

Image source: Shanghai Stock Exchange official website

In the second round of inquiries on the Science and Technology Innovation Board, the Shanghai Stock Exchange is mainly concerned with the disclosure and verification of company shareholders’ information, R&D expenses and science and technology attributes, legal compliance of overseas subsidiaries, market space and industry development direction, industry policies and trade policies, and customers There are 14 questions in total.

Specifically, the Shanghai Stock Exchange requires Kuaike’s e-sponsor and issuer’s lawyers to verify and explain: (1) Whether there are any stock holdings in the issuer’s historical evolution, and if so, whether it is legally dismissed, whether to verify and disclose the reason for its formation and evolution. Circumstances, dissolution process, whether there are disputes or potential disputes, etc.; (2) Whether the issuer’s disclosure of shareholder information is true, accurate and complete.

Kuaike Electronic Reply: After consulting the issuer’s industrial and commercial registration information, the questionnaire issued by the shareholder, the letter of commitment, the shareholder’s capital contribution or payment certificate, the bank flow of the major shareholder during the reporting period, and the shareholder Fuende Xingyu’s fundraising account collection details and interviews The relevant shareholders of the issuer confirm that there is no proxy holding of shares in the issuer’s history. As of this issuance, the issuer is 48 million yuan, and the issuer has experienced 2 capital increases and 3 equity transfers.

After verification, the issuer’s capital increase and equity transfer in the aforementioned historical evolution did not exist on behalf of stock holdings, and the shares were clear and clear, and there were no disputes or potential disputes.

Regarding the surprise share purchase, the Shanghai Stock Exchange requires the sponsor and the issuer’s lawyers to verify and explain: whether new shareholders have been added through capital increase, share transfer, etc. within 12 months before the declaration; if so, whether to verify and disclose the basics of the new shareholders in the prospectus The circumstances, reasons for the share purchase, share price and pricing basis, whether the new shareholder has an associated relationship with other shareholders, directors, supervisors, and senior management of the issuer, the new shareholder and the intermediary institution of the issuance and its principals, senior management, and economic Whether there is an affiliated relationship between the office staff, whether there is a situation of holding shares on behalf of the new shareholders, etc.

Kuaike Electronic responded that according to the issuer’s industrial and commercial registration information, capital increase agreement, capital contribution or transfer payment voucher, the issuer submitted an application for this issuance and listing to Shanghai in November 2020. Since May 2017, Chengdu Hongtai Yinke will hold Since the issuer’s equity was transferred to Chengdu Fuende Xingyu, the issuer has not changed, that is, no new shareholders have been added in the 12 months before the issuer’s declaration.

After verification, the sponsor and the issuer’s lawyers believe that: the issuer has not added any new shareholders within 12 months before the declaration.

Regarding the abnormal share price, the SSE requires the sponsor and the issuer’s lawyers to verify and explain: (1) The background and reasons for the shareholder’s shareholding, form of shareholding, source of funds, payment method, share price and pricing basis; (2) Historical evolution of the issuer Whether there is an obvious abnormality in the shareholder’s share price; (3) If so, please follow the fourth and fifth provisions of the “Guidelines for the Application of Supervisory Rules-Information Disclosure of Shareholders of Companies Applying for Initial Listings” (hereinafter referred to as the “Guidelines”). The specific circumstances of the thorough inspection; (4) If no, please explain the sufficient reasons and objective basis for determining that the share price is fair.

Kuaike Electronic responded that the background and reasons for the previous shareholder’s share purchases in the history of the issuer are reasonable, and the share price is fair and there is no obvious abnormality.

Regarding R&D expenses and technological innovation attributes, the Shanghai Stock Exchange requires the issuer to explain: the reason and rationality of the issuer’s R&D expenses and the proportion of revenues that are quite different from those of the same industry; the reason for the rapid increase in the number of R&D projects during the reporting period, and the R&D expenses of each project According to the latest audit report, state the issuer’s total R&D investment in 2018-2020 and the proportion of its operating income, and whether the issuer’s indicators still meet the relevant indicators of the “Science Innovation Attribute Evaluation Guidelines (Trial)” Request etc.

Kuaike Electronics responded that during the reporting period, with the continuous innovation of photovoltaic module technology and the application of high-efficiency and high-power panels, in order to ensure the company’s product competitiveness and product performance to meet the needs of module customers, the company needs to maintain product upgrades and forward-looking research Continuous investment has increased R&D investment year by year. During the reporting period, the company’s R&D expense ratio was higher than that of companies in the same industry, mainly due to the following:

(1) The product structure is different. According to publicly disclosed data by companies in the same industry, the main products of companies in the same industry are photovoltaic junction boxes. The company is committed to the research and development and production of bypass protection and connection integrated products. In addition to junction boxes, the main products also include component connection core components photovoltaics Connectors, in order to ensure the safe and stable connection of photovoltaic modules, it is necessary to keep the product performance of the photovoltaic junction box and the connector improved simultaneously, so there are more R&D projects involved and higher R&D investment;

(2) The direction and scope of research and development are broader. In addition to the general-purpose junction box and connector, the company’s research and development focus is earlier involved in the research and development of intelligent junction boxes among domestic companies in the same industry, especially MPPT efficiency optimization and fire shutdown intelligent junction boxes. In addition, the company’s R&D center also actively develops related product research and development, expands the company’s product line, and invests in the research and development of photovoltaic combiner boxes, energy storage connectors, PVT cogeneration and other products, so the research and development expenses are relatively high.

(3) Difference in business scale. In each period of the reporting period, the absolute amount of research and development expenses of Tongling shares was higher than that of the company. The average operating income of Tongling shares and the company from 2018 to 2019 were 792 million yuan and 329 million yuan, respectively. Their revenue scale was significantly higher than that of the company. Its research and development expenses account for a relatively low proportion of revenue.

In each period of the reporting period, the number of R&D projects being implemented by the company are 5, 8, and 14, respectively. The number of R&D projects has increased rapidly, mainly due to the rapid technological upgrading of the photovoltaic industry. The company has continued to increase in order to maintain market competitiveness. Large R&D investment, R&D projects include not only the improvement and upgrading of existing product performance and production process improvements based on market feedback, but also forward-looking research based on judgments on industry development trends, so the number of R&D projects has increased rapidly.

Regarding the properties of science and technology innovation, the cumulative R&D investment in the last three years is 64,384,300 yuan, exceeding 60 million yuan; the cumulative R&D investment in the last three years accounts for 5.54% of the cumulative operating income, which is more than 5%, the total R&D investment and the three-year cumulative R&D investment The proportion of cumulative operating income meets the relevant indicator requirements of the “Guidelines for the Evaluation of Attributes of Science and Technology Innovation (Trial)”.

As of the date of issuance of this reply, the issuer and its subsidiaries have obtained 10 invention patents, of which 8 are related to the main business, which are used in the company’s daily business activities and form main business income, and the ownership of the patent is clear, and there is no right Restrictions or litigation disputes. The number of invention patents related to the issuer and its main business meets the requirements of the “Guidelines for the Evaluation of Attributes of Science and Technology Innovation (Trial)”.

The issuer’s operating income scale and the compound growth rate of operating income in the last three years meet the requirements of the “Guidelines for the Evaluation of Science and Technology Innovation Attributes (Trial)”.

Accordingly, in order to restructure the investment portfolio, Intact Management Co., LTD registered to sell more than 4.62 million TCD shares, equivalent to the ownership ratio of 5.62% of capital. If the transaction is successful, this organization will reduce its ownership in TCD to 0%. Trading is done by matching and / or agreement method, expected time from April 28 to May 27, 2021. On the market, TCD shares were quite bleak when closing this morning on April 23 at the floor price of 13,050 dong / share, down 6.8%. If temporarily calculated at this market price, Intact Management Co., LTD will earn about VND 60.3 billion from the divestment at TCD. On April 29, Tracodi will hold its 2021 annual shareholder meeting to approve this year’s business plan with 2021 consolidated revenue target of 3,203 billion, an increase of 12.3% compared to 2020 and profit after tax. 280 billion, up strongly by 91.3%. In addition, TCD also plans to pay dividends in 2020 at 11% and 2021 at 14%. In which, the Company estimates consolidated revenue is expected in the first quarter of 2021 to reach more than 817 billion, up 69% over the same period. Profit before tax is estimated at 73.99 billion, 3.7 times higher than the same period in 2020. Accordingly, TCD has completed 25.5% of the revenue plan and 21.6% of the expected profit plan in 2021. .

Through the inspection and review of legal documents, approved project design documents and current construction status, the construction of the above works arises by the Ba Ria Fishing Port Management Board – Vung Tau is not in accordance with the guidelines allowed by the Provincial People’s Committee and the Department of Agriculture and Rural Development, not in accordance with the approved planning and design. Construction works on sea encroachment in contravention of approved planning at Ben Loi – Binh Chau estuary storm shelter area of ​​Xuyen Moc district. Ba Ria – Vung Tau fishing port management board allows people to arbitrarily build sea encroachment works, pour pillars on the embankment to protect the border to build, seriously affect the safety of the protective talus, possibly potential landslides, later subsidence, danger to ships, loss of aesthetics and affect the overall site of the project, causing frustration in public opinion. The management board of Ba Ria – Vung Tau province’s fishing port does not comply with the regulations on the commencement of the work to the local authority. At the meeting with the inspection team, at the time of signing the minutes, Mr. Ngo Thanh Liem, Director was absent. Mr. Le Hong Liem, Deputy Director was present and presented opinions to the delegation to write in the minutes but did not agree to sign the minutes, indicating the non-cooperation of leaders of Ba Ria – Vung Tau Fishing Port Management Board. with local authorities. Immediately after the report of the People’s Committee of Xuyen Moc district, on February 1, 2021, Mr. Tran Van Tuan, Vice Chairman of the People’s Committee of Ba Ria – Vung Tau province issued the document of express speed No. 1022 / UBND-VP on the inspection inspecting construction works in the storm shelter anchorage for fishing ships of Ben Loi – Binh Chau. Accordingly, the Provincial People’s Committee assigned the Department of Agriculture and Rural Development to preside over and coordinate with the Department of Construction and the People’s Committee of Xuyen Moc district to inspect and handle. One of the wrongly planned constructions at Ben Loi – Binh Chau estuary, used for business purposes, was requested to be dismantled. On January 25, 2021, the Department of Agriculture and Rural Development presided over and coordinated with the People’s Committee of Xuyen Moc district and relevant branches to organize the inspection. Thereby, the Department of Agriculture and Rural Development has concluded that the construction of works in the storm shelter anchorage for Ben Loi – Binh Chau fishing boat is not consistent with the master plan. The Provincial People’s Committee approves and requests the Provincial Fishing Port Management Board to stop construction and dismantle all construction items that are not in accordance with the planning, and return to the original state before February 28, 2021. . Through the inspection and supervision at the locality, the Provincial Fishing Port Management Board has stopped the construction of work items. However, up to now, the Fishing Port Management Board only dismantled 01 item of sea encroachment, built on the guard’s slope (area 8.2m x 15.5m = 80.6m2). The remaining construction items that are not in accordance with the remaining planning remain unchanged and have not been dismantled (the un-dismantled works include 12 items, an area of ​​about 1,869 square meters). The Department of Agriculture and Rural Development of Ba Ria – Vung Tau province has 3 times issued a document to the Provincial Fishing Port Management Board to urgently dismantle completely and return the original state of construction works. in accordance with the master plan of the site approved by the Provincial People’s Committee on the adjustment of the investment project to build storm shelter anchorage for fishing ships of Ben Loi – Binh Chau. For unknown reasons, until now, Ba Ria – Vung Tau Fishing Port Management Board still “defies” the instruction documents from the Provincial People’s Committee, the Department of Agriculture and Rural Development, has not carried out the dismantlement of the wrong builder here? Legal forums will continue to update developments regarding this incident.

The net profit attributable to Shengxiang Biological and other companies increased by more than 10 times

According to the data disclosed by Wind, among the 261 listed companies on the Sci-tech Innovation Board, 243 companies will achieve profitable net profits in 2020, accounting for about 93.1% of the number of companies on the Sci-tech Innovation Board.

According to Wind data, among the 243 sci-tech innovation board listed companies, 136 companies will achieve attributable net profit of more than 100 million yuan in 2020. Among them, 17 stocks such as Lanqi Technology, Trina Solar, Stone Technology, and Oriental Bio will be realized in 2020. The net profit attributable to over 1 billion yuan. Judging from the data disclosed by Wind, SMIC’s net profit attributable to 2020 will be approximately 4.332 billion yuan, ranking first in science and technology stocks in terms of profit.

The growth rate of attributable net profit is an important indicator to measure the growth and development capabilities of a company. According to Wind data, among the 243 companies listed on the Sci-tech Innovation Board with attributable net profits in 2020, 180 companies’ attributable net profits in 2020 will increase year-on-year. Among them, 29 stocks including Chipsea Technology, Haier Biotechnology, and Kingsoft Office will be The annual attributable net profit doubled year-on-year, and the attributable net profit of the four sci-tech innovation board listed companies of Shengxiang Bio, Shijia Photonics, Oriental Bio, and Zhijiang Bio will increase by more than 10 times in 2020.

The biggest increase is Shengxiang Biology. The data shows that in 2020, the attributable net profit of Shengxiang Bio will be approximately 2.617 billion yuan, a year-on-year increase of over 65 times. The attributable net profit of Shijia Photonics, Oriental Bio, and Zhijiang Bio will be 39 million yuan, 1.688 billion yuan, and 928 million yuan in 2020, respectively, representing a year-on-year increase of 2542.2%, 1956.37%, and 1701.53% respectively. From the perspective of Wind industry, Shengxiang Bio, Oriental Bio, and Zhijiang Bio are all medical and healthcare companies.

Wind statistics show that among the 243 listed companies on the Science and Technology Innovation Board, there are still many stocks that have seen a year-on-year decline in net profit attributable to 2020. Specifically, the net profit attributable to 24 shares in 2020 has declined by more than 30% year-on-year, including Espressif Technology, Minxin, Haohaishengke, etc. The net profit attributable to 5 stocks including Shin Kong Optoelectronics, Sino Medical, Nuohe Zhiyuan, Ruisheng Intelligent, and Tianyi Shangjia will drop by more than 50% in 2020.

The net profit attributable to 14 shares exceeded 100 million yuan

According to Wind data, there are 18 sci-tech innovation board listed companies in a state of loss in 2020 attributable net profits.

Specifically, among the 18 companies listed on the Science and Technology Innovation Board, 14 stocks will have attributable net profit losses exceeding 100 million yuan in 2020, including Qingyun Technology, Frontier Biology, and Zejing Pharmaceuticals.

The data disclosed by Wind shows that among the 18 sci-tech innovation board listed companies that have attributable net profit losses in 2020, Junshi Biologics has the largest amount of losses. The data shows that Junshi Bio will have a net profit loss of approximately 1.669 billion yuan in 2020.

It is understood that Junshi Biotech was listed on July 15, 2020 and is an innovation-driven biopharmaceutical company. Regarding the reason for the performance loss, Junshi Biotech stated that it was mainly because the company’s operating income could not fully cover the continuously increasing R&D investment in research projects and reserve R&D projects. Junshi Bio also stated that the company reserves a number of research projects in the early preclinical research stage, and the company will continue to invest in large-scale research and development in the future to complete preclinical research, clinical trials and preparations for new drugs. The company’s product pipeline research and development business, and the company’s new drug listing application and new drug market promotion will also incur high costs, which may lead to further expansion of the company’s losses.

After Junshi Biologics is Shenzhou Cell, the company’s attributable net profit loss in 2020 is about 713 million yuan.

It is worth mentioning that according to Wind data statistics, among the 18 sci-tech innovation board listed companies that have a net profit loss in 2020, 14 are companies with “U”, accounting for about the proportion of the number of companies with a net profit loss in 2020. 77.78%.

According to the industry to which Wind belongs, among the 18 sci-tech innovation board listed companies that will have a net profit loss in 2020, 9 companies including Junshi Bio, Shenzhou Cell, Biotech, and Kangsino belong to the healthcare industry. Qingyun Technology, Youke Six companies, including Deer, Cambrian, etc., belong to the information technology industry, while three companies, Funeng Technology, Eft, and Yihuatong, belong to the industrial field.

Song Qinghui, a well-known economist, believes that most of the companies with performance losses in the science and technology board stocks are biomedical innovation companies. From the perspective of the general development cycle, the large R&D investment before the product launches, and the situation of sustained losses or even no income in the short term is the inevitable pain for the growth of these companies.

4 shares are now listed for the first loss

It is worth noting that the 4 shares of You Kede, Funeng Technology, Sansheng Guojian, and Youfang Technology will usher in their first losses on the market.

Excluding the companies with “U”, among the 18 sci-tech innovation board listed companies with a net profit loss in 2020, Youqo will have the worst performance. According to the 2020 performance bulletin disclosed by Youkede, in 2020, Youkede realized operating income of approximately 2.466 billion yuan, a year-on-year increase of 62.79%; the corresponding realized net profit loss was approximately 341 million yuan, which turned from profit to loss year-on-year.

It is understood that Ukerde was listed on January 20, 2020. It is a third-party cloud computing service provider and one of the first companies to pass the certification of trusted cloud services. It adopts three modes: public cloud, private cloud, and hybrid cloud. Users provide services. This is also the first loss in the annual report of Ukde since its listing.

Regarding the specific reasons for the company’s 2020 attributable net profit loss, a relevant person of Youkede said in an interview with a reporter from Beijing Business Daily, “We are currently in the silent period of annual reports. The 2020 annual report will be issued on April 27. The matter will be explained in detail”.

In addition to You Kede, Funeng Technology, Sansheng Guojian, and Youfang Technology also experienced their first losses on the market. It is understood that Sansheng Guojian went public on July 22, 2020, and is mainly engaged in the research and development, production and sales of antibody drugs. The performance bulletin shows that Sansheng Guojian will have a net profit loss of about 200 million yuan in 2020. Before listing, 3SBio Group maintained its profitability in its performance. Data show that from 2017 to 2019, the attributable net profit of Sansheng Guojian was approximately 390 million yuan, 370 million yuan, and 230 million yuan, respectively.

Funeng Technology and Youfang Technology were listed on July 17, 2020 and January 23, 2020 respectively. The net profit attributable to Funeng Technology and Youfang Technology in 2020 will be approximately -316 million yuan and -69 million yuan, respectively.

Xu Xiaoheng, an investment and financing expert, said that investors should be cautious in investing in stocks that have “changed their faces” after listing.

Beijing Commercial Daily reporter Liu Fengru

Another family company launched an impact on the A-share market.

Recently, Tangshan Baichuan Intelligent Machine Co., Ltd. (hereinafter referred to as “Baichuan Intelligent”) submitted a prospectus, and plans to be listed on the Science and Technology Innovation Board, with a public offering of no more than 33.4 million shares, accounting for no less than 25% of the total share capital after the issuance.

The IPO Daily found that the equity of Baichuan Intelligent was mainly held by the actual controller, the father and the daughter. The company not only relies on the top five customers for its performance, but is also questioned by the Shanghai Stock Exchange whether it has the attributes of science and technology innovation.

The value of “post-90s”

It is understood that Baichuan Intelligent was established in 1998, funded by Qingyuan Environmental Protection and Liu Jianying.

As of the signing date of the prospectus, Baichuan Zhixin holds 72.09% of the shares of Baichuan Intelligent, Liu Jingyan holds 19.9% ​​of the shares, and Baichuan Zhihui holds 8.01% of the shares.

It needs to be pointed out that Baichuan Zhixin is 100% owned by Liu Jianying, Liu Jianying and Liu Jingyan have a father-daughter relationship.

In other words,Liu Jianying and Liu Jingyan directly and indirectly hold 91.99% of the equity of Baichuan Intelligent and are the actual controllers of Baichuan Intelligent.

In this regard, Baichuan Intelligent said that the company’s operations may be affected due to the relative concentration of the equity structure and the control of the actual controller, and there is a risk of the relative concentration of the equity structure and the actual controller’s control.

In addition, Baichuan Zhihui is the employee stock ownership platform of Baichuan Intelligent.

In other words, Baichuan Intelligent does not have any external shareholders. Relying on its own capabilities, Baichuan Intelligent wants to become a listed company.

In addition, if Baichuan Smart goes public, A-shares will usher in a “post-90s” worth over 100 million yuan.

The prospectus shows that Baichuan Intelligent intends to raise 1.449 billion yuan this time and publicly issue no more than 25% of its shares. Based on this calculation, if Baichuan Intelligent successfully raises funds, its valuation may reach nearly 5.8 billion yuan.

It is reported that Liu Jingyan was born in 1991 and currently does not hold any position in Baichuan Intelligent. After the successful listing of Baichuan Intelligent, Liu Jingyan’s equity ratio in Baichuan Intelligent will be diluted to 14.92%, and the value of the equity held may reach 865 million yuan.

Performance depends on the top five customers

It is understood that Baichuan Intelligent is mainly engaged in the research and development, production and sales of rail transit locomotive and rolling stock inspection and testing equipment, and is committed to providing reliable guarantee for rail transit safety. It is the main rail transit locomotive and rolling stock inspection and testing equipment provider in the industry.

From 2017 to 2019 and from January to March 2020 (hereinafter referred to as the “reporting period”), Baichuan Intelligent realized operating income of 601,265,800 yuan, 722,321,900 yuan, 822.9387 million yuan, and 74,412,200 yuan respectively, and the net profit was returned to the parent after deduction. They were 113,700,900 yuan, 139,666,600 yuan, 20,257,300 yuan, and 19.509 million yuan respectively.

During the above time period, both the revenue and net profit of Baichuan Intelligent have shown a continuous upward trend.

It needs to be pointed out that Baichuan Intelligent can achieve the above-mentioned performance, mainly The top five customers that rely on the company.

According to the prospectus, during the reporting period, the sales revenue generated by Baichuan Intelligent’s top five customers was 457,955,700, 493,907,400, 390,581,800, and 69,134,200, respectively. Respectively accounted for 76.17%, 68.38%, 47.46%, 92.91% of the current operating income.

In this regard, Baichuan Intelligent said that if the industry policy changes in the future, or the operating conditions of major customers undergo adverse changes, resulting in a decrease in customer demand for the company’s products, it will adversely affect the company’s operating results.

In addition to customer concentration, Baichuan Intelligent also relies more on tax incentives.

According to the prospectus, during the reporting period, the total amount of tax incentives obtained by Baichuan Intelligent was 21,780,500 yuan, 2019.94 million, 38,375,800 yuan, and 4,747,100 yuan, respectively, accounting for 15.56%, 24.32%, 14.8%, and 20.97 of the total profit for the period. %. At least 10% of Baichuan Intelligent’s annual profit comes from tax incentives.

In this regard, Baichuan Intelligent said that if there is an adverse change in the national tax preferential policy, it will have an adverse impact on the company’s operating results.

Weak liquidity

Although Baichuan Intelligent is mainly engaged in rail transit, it is an asset-light operating company.

At the same time, during the above time period, the balance of accounts receivable of Baichuan Intelligent was 571.1378 million yuan, 530.336 million yuan, 643.1794 million yuan, and 539.9911 million yuan, respectively, accounting for 39.42%, 37.04%, 38.92%, and 32.68 of the total assets of the current period. %; Inventory balances were 310.7784 million yuan, 328.19945 million yuan, 408.8454 million yuan, and 420.472 million yuan, respectively, accounting for 21.45%, 22.92%, 24.74%, and 25.45% of the total assets of the current period.

In other words, Accounts receivable and inventories are an important part of company assets.

It needs to be pointed out that the IPO Daily found that Baichuan Intelligent’s liquidity of accounts receivable and inventory is weaker than the average value of comparable companies in the same industry.

According to the prospectus, during the reporting period, the accounts receivable turnover rate of Baichuan Intelligent was 0.85, 1.02, 1.13, and 0.1, respectively. The average value of comparable companies in the same industry was 1.47, 1.25, and 1.42; the inventory turnover rate was 1.32, 1.35, 1.29, 0.09, the average values ​​of comparable companies in the same industry are 1.54, 1.5, 1.85, and 0.11 respectively. (Note: The average value of the accounts receivable turnover rate of comparable companies in the same industry of Baichuan Intelligent from January to March 2020 has not been announced)

During the above time period, Baichuan Intelligent’s accounts receivable turnover rate and inventory turnover rate have always been lower than the average value of comparable companies in the same industry.

Asked about the properties of science and technology innovation

The IPO Daily also found that because of the lack of science and technology attributes, Baichuan Intelligent wanted to be listed on the science and technology board this time.

Previously, the China Securities Regulatory Commission issued a science and technology innovation board science and technology innovation attribute evaluation index system. The specific conventional indicators are: the cumulative R&D investment in the last three years accounted for ≥5% of the cumulative operating income in the last three years, and the cumulative R&D investment amount in the last three years ≥6000 Ten thousand yuan, or the invention patents (including national defense patents) that form the main business income ≥ 5 items, etc.

According to the prospectus, during the reporting period, the R&D expenses of Baichuan Intelligent were 43.156 million yuan, 38.098 million yuan, 29.519 million yuan and 47.705 million yuan, respectively, accounting for 7.18%, 5.27%, 3.59%, and 6.41% of the current operating income.

It can be seen that in the above time period, the investment in R&D expenses of Baichuan Intelligent has shown a continuous downward trend. By 2019, its R&D expense ratio is still less than 4%.

At the same time, Baichuan Intelligent has invested a total of 110,774,400 yuan in R&D in the past three years, accounting for 5.16% of operating income, which is only just over 5%.

Look at invention patents again.

It is understood that as of the signing date of the prospectus, Baichuan Intelligent has a total of 7 invention patents, of which 3 have been applied for in 2013 and the remaining 4 have been applied for in 2019. Relying on the 4 new invention patents added in 2019, Baichuan Intelligent has more than 5 invention patents.

What needs to be pointed out is that in the inquiry, the Shanghai Stock Exchange asked Baichuan Intelligent to combine the aforementioned responses, Baichuan Intelligent’s R&D investment and R&D system, etc., to indicate whether Baichuan Intelligent has independent innovation capabilities and whether it possesses the attributes of science and technology.

END

Reporter Deng Haotian

Layout Wang Ying

Edit Wu Mingzhou

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