The Deputy Prime Minister asked the People’s Committees of provinces and cities to follow the direction of the government’s “dual goals”, both disease prevention and economic development. The People’s Committees are required not to “stop the river from banning the market”, have a plan to prioritize quick circulation at Covid-19 epidemic control points with means of transporting lychee from Bac Giang province to promptly consume finished product. Means of transporting Bac Giang lychee are officially opened “green lane” to quickly consume finished products. Photo: Hoang Dong. Relevant units include the Ministry of Transport, Industry and Trade, Public Security, Agriculture and Rural Development according to their functions and tasks to guide ensuring favorable conditions for trade, consumption and supply activities. goods between epidemic localities and other localities, in which priority is given to means of transporting lychee from Bac Giang province. The Ministry of Health was assigned to continue to inspect, urge and correct localities in the application of Covid-19 prevention and control measures to freight transport. This ministry is also responsible for guiding the Bac Giang People’s Committee on the issuance of certificates of safety to prevent and control the Covid-19 epidemic for means of transporting lychee through quarantine checkpoints. Previously, according to the Trade Promotion Department (Ministry of Industry and Trade), on June 12, the first batch of lychee with a traceability stamp entered the French market via air. This batch of nearly 1 ton lychee is stamped with the traceability stamp itrace247 developed by the unit. The shipment also took advantage of tariff preferences from the Vietnam – European Union Free Trade Agreement (EVFTA).

Feng shui expert Phung Phuong said below are 3 characteristics of an ideal house in feng shui, in a house that has all the above factors, the owner not only has good health but also has good luck. The more prosperous and prosperous, the more fortune increases, the work is happy. The front of the house is airy, not blocked from sight When choosing to buy or rent a house, it is best to choose an apartment with an open front space that is not covered too much, even if it is blocked by tall buildings or big trees, it is not good. If the front of the house has a wide view, the house will receive a lot of sunlight, air circulation, ideal feng shui. People living in a house with such good feng shui, the mood is usually happy, optimistic, fortune is also easy to improve, easy to make money. The ancients have said, “The harmony of all things flourishes”, the harmonious family, the members unite and love each other, that is the root of feng shui, will bring sustainable prosperity and prosperity in the next life. . The house has a prosperous vitality Around the house, plants and trees grow well, trees of normal shape are good vitality and prosperity. Do not think that only people have vitality, any house has vitality. Choosing to buy a house according to feng shui, do not choose a house that has just entered, it feels heavy and cold, it is a place of lack of vitality, which will drag down the owner’s fortune The secret to choosing a house with a prosperous vitality is quite simple, it is a house with good light, surrounded by trees and flowers growing well. In a house with a prosperous life, the new owner can have a prosperous fortune, even more luck and fortune will come. House with balanced yin and yang The most important rule of house feng shui is to ensure a balance of yin and yang. In a house, if yin and yang is out of balance, everything will develop unfavorably. When the house has too much yang because there are many lighting windows, the house is not suitable for accumulating wealth, at this time the homeowner should use curtains to block out light, to avoid the extreme yang that causes wealth dispersion. In addition, avoid choosing a house with 4 sides that are all glass doors, easy to absorb a lot of light, leading to blood loss, making homeowners prone to incidents of blood loss and injury. In a prosperous house without enough light, it is easy for the negative energy to linger in the house, for a long time, causing the spirit and health of the owner to decline, or worry about insecurity, easily anger, arise conflicts and disputes with other people, often sick, tired, money is also affected because of that. With a house with a lot of negative energy, you can neutralize it by increasing the light source entering the house, you can also use artificial light by turning on the lights for the dark corners of the house. * The article information is for reference and contemplation.

Eel farming according to new model. (Photo: Anh Tuyet/VNA) Farmers in Can Tho city are very excited because intensive farming of field eels using water circulation technology has helped them stabilize their livelihoods and get rich with typical products. This is a research achievement that has been implemented into reality by scientists of the Can Tho University . Associate Professor, Dr. Pham Thanh Liem, Head of the Department of Freshwater Aquaculture Technology, Can Tho University, Head of the project, shared from the fact that eel farming households in Can Tho are implementing two projects. farming, with soil and without soil with plant media or bamboo/nylon blisters all have limitations. Because, for the farming model with land, the stocking stock is large in size, often using natural seed, the food used is trash fish or homemade food, low density, eels hiding in the mud become a hindrance in the management of feed and health of farmed eels. In landless farming model , if it is an eel obtained from the wild, the growth and yield are lower than the land culture model. The rate of water change in both farming methods ranges from 1-1.3 times/day with 100% fresh water. Both of the above methods give low eel farming productivity of less than 10kg/m2. If the stocking density is increased, the water exchange rate will increase and increase the risk of disease, environmental pollution and food safety. Since 2018, the research team has implemented the intensive farming model field eels by water circulation technology. This is a model that meets food safety and traceability requirements, while maintaining environmental quality and protecting natural resources. The strength of the model is the application of technical and biological solutions, self-cleaning and reuse of water sources, increasing the maximum eel farming density up to 600 fish/m2 and increasing productivity to 25kg. commercial eel/m2. The productivity of farmed eel also increased from 2.5-4 times compared with conventional farming model; profit efficiency is from 36.5-60.2%. Households raising eel under the new model ensure safe operation, control of pathogens, health and quality of farmed eel products; minimize the rate of water change, increase the output of cultured eel; improve and increase the growth rate, eel quality and production efficiency; allows the treatment of contaminated water and helps control the discharge process. Thereby, contributing to environmental protection; forming and developing farming technology to create clean, high-quality products, meeting the needs of consumers. Currently, the model is starting to be transferred and deployed in a number of breeding and commercial eel farming sites in Can Tho city. Mr. Nguyen Thanh Tan, owner of Binh Thuy farm, Long Tuyen ward, Binh Thuy district has implemented the eel farming model in the form of water circulation since 2019, on a test area of ​​30m2, including 5 tanks, each tank is 6m2. The culture tank is designed to connect to the water circulation system including a biological filter tank, a solid waste settling tank and a water tank. The flow of water through the aquarium is adjusted from 0.5-0.8 liters/min. Black nylon rope is tied into a beam with a length of 20-30 cm, used for sheltering eels. This cord is cleaned daily and renewed once a month. Model of an eel tank based on water circulation technology. (Photo: Anh Tuyet/VNA) Eels are incubated for 90 days, size from 1.4-3.2g/head. Eel feed is industrial pellets, with 41% protein content. Instead of having to change the water every day like the old model, in the water recirculation model, the water is changed every 2-3 weeks. This helps farmers reduce labor costs, water costs, as well as help stabilize the water quality of the aquarium, and the eels are healthier and faster. After 8-9 months, commercial eels can reach 400g / head, farmers’ profits doubled compared to the old model. “In the commercial eel farming group of Binh Thuy district, there are currently more than 10 households out of 40 members who have switched to raising eels using water circulation technology. In general, the model is quite easy to install, the initial cost is The income is not high. The members are aware of supporting each other in farming techniques as well as product output. Therefore, most of the farming households give quite positive feedback,” said Mr. Tan. According to Associate Professor, Dr. Pham Thanh Liem, in the near future, the model will be replicated in Ninh Kieu and Phong Dien districts. The purpose is to support farmers to increase the technology content in farming and farming.

Accordingly, heated tobacco products are designated as tobacco products that reduce exposure to harmful substances to the body compared to cigarettes. This decision of the FDA is also a response to some concerns of governments around the world about the ability of products to reduce harm. In addition, other concerns were also answered by experts. The risk is lower than with cigarettes, higher than that of quitting To date, health authorities are concerned that the FDA’s decision to only allow products to be designated “reduced exposure” does not prove that heated tobacco products reduce the risk of disease to human health. use. In addition, some medical experts have made statements that contradict the FDA’s decision, saying that the product is not different from cigarettes. According to official information from the FDA, studies on heated tobacco have demonstrated that the aerosols produced by these products still contain high levels of harmful and potentially harmful ingredients, including formaldehyde. , acrolein, carbon monoxide; NNN and NNK (substances related to diseases caused by tobacco smoke) but significantly lower than the currently circulating combustible cigarettes. Specifically, depending on the type of substance, the average concentration in aerosol gas will be reduced from 55% to 99% compared to the smoke of cigarettes. At the same time, the FDA said that in the process of reviewing the records, FDA has consulted users. The results showed that users found that the risk of using these products was lower than that of smoking cigarettes. However, they are also fully aware that using this heated tobacco product carries a higher risk than quitting smoking or using nicotine replacement products. PGS.TS.BS. Tran Van Ngoc – Chairman of the Ho Chi Minh City Respiratory Association said that in logic, minimizing exposure will help reduce harm. Assoc.Prof.Dr. Le Van Quang, Director of the Central Hospital for Cancer, also stated: “From the perspective of an oncologist, when a patient smokes, the greater the amount of carcinogens exposed, the higher the cancer risk. And for cigarettes, one thing is important: nicotine is not the cause of cancer caused by smoking, but the cause of cancer is the molecules in the smoke created by the combustion of cigarettes. leaves”. Low accessibility to young people The US FDA is a reputable health authority in the US as well as globally. Accordingly, protecting the young generation and people’s health is the top goal of FDA. Therefore, allowing a single heated tobacco product to be allowed access to the US market shows that they have done thorough research and considered carefully before making a decision. FDA Representative, Dr. Priscilla Callahan-Lyon affirmed that the FDA has carefully studied the issue of the product’s impact on young people. Accordingly, in terms of appearance, a heated cigarette is a rather large set of equipment, difficult to conceal and is not cheap, must be used with its own custom cigarette, and this product also does not contain attractive aromas. young. Not only in the US, in countries where this product is allowed to be sold, it is almost impossible for young people to access the product. In order to make a purchase, the buyer must go through a background check to ensure that the buyer is a smoker and is of legal age of majority in the country of origin. At the same time, although allowing this tobacco product to be commercialized, FDA also requires manufacturers to regularly update their sales and trade processes to ensure control of young people’s access to the product. This product is at its lowest. Meanwhile, compared to heated cigarettes, young people can easily buy cigarettes anywhere with as cheap as giving. On the other hand, in countries that allow the circulation of heated tobacco, the impact of this product on young people or new users is almost under control. Despite accounting for 85% of global sales of heated cigarettes, only 0.1% of middle and high school students in Japan use heated cigarettes daily, which is only one-fifth of the total. percentage of students smoking burned cigarettes. It is worth noting that the number of students using heated cigarettes is the same group of students who have used cigarettes before. According to an independent study of 7,000 teenagers in Germany, the number of people aged 12-17 who used a heated tobacco product in the 30 days before the survey was almost zero. One study Another independent study of more than 11,000 teenagers aged 11-15 years old in Switzerland also found that less than 2% had ever used heated tobacco, while the number of people who smoked lit cigarettes in this same age range increased. to over 33%. Need a plan to build a legal corridor According to the Framework Convention on Tobacco Control (FCTC) of the World Health Organization (WHO), which Vietnam has acceded to and entered into force in March 2005, in the definition under article 1, item (f) published on the website of the Foundation for Prevention of Tobacco Harms (Vinacosh) also clearly states: “tobacco products” means products which are wholly or partly derived from tobacco materials manufactured to for sucking, sucking, chewing or inhaling. The 8th Conference of the Parties (COP8) held by WHO at the end of 2018 also once again reiterated that heated tobacco is recognized as a tobacco product. From this definition and the COP8 guidelines, it can be seen that whether according to the definition of the 2012 Law on Drugs and Prevention of Vietnam, or within the definition of the WHO Framework Convention on FCTC 2005, heated tobacco is a products must be subject to the control of the current Law on Drug Prevention and Control. Lawyer Phan Hoang Lam, Law Firm DT LAW On the other hand, lawyer Phan Hoang Lam, DT LAW Law Firm, said that the Law on Prevention of Tobacco Harms 2012 defines “Tobacco is a product manufactured from all or part of medicinal ingredients. leaves, processed in the form of cigarettes, cigars, tobacco, pipe tobacco or other forms”. On this basis, heated tobacco is considered “tobacco” because it contains tobacco leaf ingredients, consistent with the concept of “tobacco” under the current legal provisions of Vietnam. Therefore, this drug is completely regulated by the National Drug Prevention and Control Law. According to Lawyer Lam, in order to manage smokeless tobacco products more effectively, Vietnam needs to consider international scientific bases to evaluate and compare the level of harm to the health of the drug. smokeless leaves compared to burned cigarettes. At the same time, with the function of State management, in order to create free and fair competition among manufacturers and products and protect the interests of consumers, protect public health, regulatory agencies The state should immediately come up with a plan to build a legal corridor for the production, circulation and control of these products.

Seek to go public one after another

There are a total of 19 liquor-listed companies on the A-share market, and their stock prices are “steadily rising”, but there has been no liquor circulation company. The listing of Huazhi Liquor opened a new journey in the liquor circulation industry. In the past two months, Baichuan Famous Brands and Jiuxian.com have hit A shares to make this drama even more interesting.

On the evening of April 8th, the official website of the China Securities Regulatory Commission disclosed the prospectus of Jiuxian.com, which planned to issue 99 million shares on the Growth Enterprise Market and raise 1 billion yuan for the construction of three projects including smart warehousing and to supplement operating funds.

More than two months ago, the official website of the China Securities Regulatory Commission showed that Baichuan famous products have been filed and counseled with the Anhui Securities Regulatory Bureau and intend to apply for listing on the GEM. It is understood that Baichuan Mingpin and Huaan Securities signed the “Initial Public Offering Counseling Agreement between Baichuan Mingpin Supply Chain Co., Ltd. and Huaan Securities Co., Ltd.”.

Jin Yufeng, managing partner of Centaline Fund, told a reporter from China Business Daily that the shortage of funds for liquor circulation companies is the consensus of the industry, and the core demand for supplementary operating funds or most corporate financing. Liquor industry analyst Cai Xuefei also told reporters that in my country’s liquor industry chain, the circulation links have always lacked the right to speak and upstream bargaining power. They need to rely on low prices and scale advantages to improve their competitiveness. Contribute to the realization of large-scale expansion.

In fact, capital is optimistic about the alcohol circulation industry that has already begun. In December 2020, Jiu Xiaoer, a liquor delivery platform in the same city, announced the completion of Series A financing. The investors were Tencent and Sequoia Capital. Subsequently, Baode shares announced the acquisition of approximately 90% of the shares of Mingpin Family, and signed a gambling agreement, Mingpin Family’s “backdoor listing” dream has finally come true.

In Cai Xuefei’s view, the cooperation between capital and liquor circulation channels is nothing more than getting what they need. Capital is able to enter the wine market and extend its reach to the field of consumer consumption; and wine circulation companies can quickly realize the capitalization process and enhance their competitiveness after obtaining financial support.

The “past and present” of the two

What is the history of the two liquor circulation companies that have revealed their A-share listing ambitions? It is understood that Baichuan Famous Brand, established in 1997, is an out-and-out “veteran” in the liquor circulation industry, and its founder, Jia Guangqing, is also an industry leader. Its biggest highlight is the “thigh” of Pang Wuliangye. According to insiders, Baichuan Famous Brand started as a Wuliangye distributor and is a platform provider of Wuliangol products in six provinces in East China. Wuliangol’s revenue accounts for nearly 50% of Baichuan Famous Products’ revenue. In 2018, Wuliangye Co., Ltd. will increase by 1.853 billion yuan, and Jia Guangqing has become one of Wuliangye’s shareholders.

Is Baichuan Famous’s seeking to go public this time to achieve national expansion, and can its own resources match it? Jin Yufeng speculated that it would be of little significance for Baichuan Famous Brands to continue to cultivate the region or expand nationwide. And because it has a high reputation in the Wuliangye system and the national distributor circle, if it expands nationally, it will have a better guarantee of resources.

But Jiuxian.com is different. It is understood that Jiuxian.com was established in 2009, specializing in the Internet retail of alcoholic beverages, and tried to expand offline in 2014. In 2015, Jiuxian.com successfully landed on the New Third Board, but its performance suffered successive losses. It was eventually delisted in 2017 because it failed to release the financial report in time.

What’s interesting is that Jiuxian.com intends to issue 99 million shares of stock this time, accounting for 24.15% of the total share capital, and raise 1 billion yuan. Based on this calculation, Jiuxian.com was valued at about 4.14 billion yuan at this time, which is an impairment of about 36% compared with the 6.5 billion valuation when it was listed on the New Third Board in 2015.

Jin Yufeng revealed that the list of Chinese unicorn companies in 2018 released by the Foresight Industry Research Institute previously showed that 1919 ranked 150th with a valuation of US$1.077 billion, but there was no Jiuxian.com among the 203 unicorns on the list. It can be seen that its valuation has fallen a lot from the 6.5 billion yuan when it went public in 2015. Jin Yufeng believes that after 1919, the valuation of Alibaba’s investment of 2 billion yuan has become about 7 billion yuan, but Jiuxian.com has raised a total of 1.8 billion yuan, and the current valuation is still only about 4.1 billion yuan. This shows that the market is not optimistic about the business model of Jiuxian.com.

More importantly, the capital shortage of liquor circulation companies has been exposed on Jiuxian.com. The prospectus shows that from 2018 to 2020, Jiuxian.com’s asset-liability ratios were 67.04%, 74.12%, and 70.32%. In 2018 and 2019, the average asset-liability ratio of the liquor circulation industry was 44.65% and 45.51% (data for 2020 has not yet been released).

Jin Yufeng said frankly that the asset-liability ratio of Jiuxian.com is close to the red line of 70%, of which current liabilities are 1.599 billion yuan. It shows that its equity financing is too difficult, the original business expansion and new business development can only rely on debt financing.

Who is more favored by the capital market

One is a long-established wine merchant in the region, and the other is a national wine platform based on online chains. Nowadays, who is more likely to win the favor of the capital market when fighting on the same stage?

From the performance point of view, in 2019, Baichuan famous product revenue was 3.738 billion yuan, and the net profit was 319 million yuan; in the same period, Jiuxian.com’s revenue was 2.997 billion yuan, and the net profit was 81.66117 million yuan. Although Jiuxian.com is a national brand, its scale is slightly lower.

From the perspective of channels, Jin Yufeng revealed that Baichuan Brands has a strong and complete distribution system in East China. Jiuxian.com is slightly embarrassed. With the weakening of online dividends and high customer acquisition costs, the first-mover advantage of online traffic that it originally relied on no longer exists.

Jiuxian.com has also conducted live broadcast exploration. Since March 2020, Jiuxian.com has repeatedly tested live broadcast on the Douyin platform through “Jiuxian.com Lafige (Lafige)”. However, a reporter from China Business Daily found that the price of its Douyin products sold was quite different from the price of the official flagship store on the JD platform Jiuxian.com.

For example, the price of Wuliangye Golden VIP Wine 52% (480ml) Douyin is 1299 yuan, and the price of Jingdong flagship store is 109 yuan; the price of Remy Martin 40% XO Cognac (700ml) Douyin is 1699 yuan, and the price of Jingdong flagship store is 109 yuan. 1499 yuan; 52 degrees art is willing to pay tribute to the Sino-French series Landing (500ml) Douyin price is 458 yuan, Jingdong flagship store price is 598 yuan.

More importantly, the new retail road of Jiuxian.com’s offline expansion is not smooth. A franchisee of Jiuxian.com in Beijing revealed to a reporter from China Business Daily that the company has strict requirements on franchisees. On the one hand, the company requires franchisees to purchase 100% of the goods from the company, and does not give franchisees any power to purchase from outside; on the other hand, the company often requires franchisees to purchase many self-sold products of the company, but the sales of these products are not ideal.

Franchisees such as Huazhi Liquor and China Liquor Chain have all revealed to reporters from China Business Daily that the company requires franchisees to purchase about 80% of their products from the company, and about 20% of their products can be sourced from outside. In addition, Huazhi Liquor sometimes purchases products from franchisees in reverse.

From the perspective of upstream product resources, Baichuan’s famous products can be used as the “thigh” of Wuliangye. The Jiuxian.com prospectus shows that in 2020, Jiuxian.com will purchase a total of 399 million yuan in products from Wuliangye Group and its subsidiaries, accounting for 13.86% of its total purchases; and 307 million yuan in purchases from Maotai Group and its subsidiaries, accounting for 10.66% . In other words, in 2020, the purchase amount of Jiuxian.com from the Maotai and Wuliangye groups accounted for about 1/4 of the total purchase amount, or less than Baichuan famous products.

In addition, the cooperation between Jiuxian.com and wine “big factories” is not solid enough. The prospectus shows that the Maotai Group is not seen in the list of the top five suppliers of Jiuxian.com in 2018 and 2019. In fact, in previous years, Jiuxian.com was “blocked” by Moutai Group and Langjiu Group.

Jin Yufeng believes that the difference between Baichuan Famous Brands and Jiuxian.com’s model is too great, and it is difficult to compare horizontally. Just look at Jiuxian.com, the imagination of its impact on the market is insufficient, and the business model lacks bright spots.