Source: GPLP Rhino Finance (ID: gplpcn)

On June 18, the official website of the Shenzhen Stock Exchange showed that the IPO review status of Shenzhen Han’s CNC Technology Co., Ltd. (hereinafter referred to as “Han’s CNC”) was changed to “Inquired”.

It is reported that Han’s CNC intends to issue no more than 42 million shares this time, and raise funds of approximately 1.707 billion yuan, which will be used for equipment production transformation and expansion and equipment technology research and development center construction projects.

Han’s Laser Splits the Pledge of Han’s CNC Listed Shares

The prospectus shows that Han’s CNC was established in 2002. Its main business is the research and development, production and sales of PCB special equipment. The registered capital is 378 million yuan. The controlling shareholder is Han’s Laser (002008.SZ). Han’s Laser directly holds 94.15% of the company’s shares.

In addition, the actual controller of Han’s CNC is Gao Yunfeng, who directly holds 9.03% of Han’s Laser, and indirectly controls 15.17% of Han’s Laser through Han’s Holdings, and controls a total of 24.20% of Han’s Laser.

The Han’s Laser’s split and listing of Han’s CNC also caused investors to worry.

On May 27, an investor asked Han’s Laser that there are a large number of related transactions and related guarantees between the parent company and listed subsidiaries. How does the company deal with such problems? It is true that the splitting of subsidiaries can better obtain financing to facilitate the further development of the subsidiaries, but it is an act at the expense of all investors. Does Han’s Laser consider the position of investors?

Han’s Laser stated that after this spin-off, Han’s Laser and Han’s CNC have no related party transactions that affect independence or are obviously unfair, which meets the requirements of the China Securities Regulatory Commission and the Shenzhen Stock Exchange on related party transactions.

However, GPLP Rhino Finance noticed that Han’s Holdings and Gao Yunfeng’s holding of Han’s Laser pledged shares have certain risks, which may indirectly affect the stability of Han’s CNC decision-making and management and the company’s production and operation.

As of April 30, 2021, the cumulative number of pledged shares of Han’s Laser held by Han’s Holdings was 5.36 million shares, accounting for 36.68% of its holdings and 5.56% of Han’s Laser’s total share capital.

The accumulated pledged shares of Han’s Laser held by Gao Yunfeng are 89.140 million shares, accounting for 92.55% of the shares held by him and 8.35% of the total share capital of Han’s Laser. The total number of pledged shares of Han’s Laser held by Han’s Holdings and Mr. Gao Yunfeng totaled 149 million shares, accounting for 57.52% of the shares held by the two and 13.92% of the total share capital of Han’s Laser.

GPLP Rhino Finance noted that the sponsor of Han’s CNC this time is CITIC Securities Co., Ltd. (hereinafter referred to as “CITIC Securities”). As of December 31, 2020, CITIC Securities held approximately 1.0635 million shares of Han’s Laser, accounting for approximately 0.10% of Han’s Laser’s total equity. Han’s CNC stated that if Han’s Holdings and Gao Yunfeng cannot repay the loan on or before the due date of the guaranteed loan, the pledged Han’s Laser shares may be subject to the risk of forced disposal, which may lead to changes in the equity structure of Han’s Laser, which may be indirect Affect the stability of Han’s CNC decision-making and management and the company’s production and operation. There are still connected transactions with Han’s Laser, and the high cash flow of accounts receivable is under pressure However, Han’s CNC still has connected transactions with Han’s Laser. From 2018 to 2020, the related sales amount of Han’s CNC is 17.2676 million yuan, 48.292 million yuan and 22.107 million yuan respectively. The sales between Han’s CNC and related parties are mainly the sale of laser forming machines and mechanical drilling machines to the controlling shareholder Han’s Laser, and the testing and sales of mechanical forming machines and mechanical drilling machines to the associated company Mingxin. The related-party purchase transactions of Han’s CNC were 127 million yuan, 60 million yuan and 118 million yuan respectively. The purchases between the company and related parties are mainly purchases of chillers, linear motors, lasers, etc. from the controlling shareholder and its controlled companies Han’s Motor and Han’s Tiancheng. Can the performance of Han’s Laser be able to maintain steady growth without Han’s Laser’s Han’s CNC? The prospectus shows that Han’s CNC has seen a sharp decline in its performance in 2019, and will only pick up in 2020. From 2018 to 2020, Han’s CNC’s operating income was 1.723 billion yuan, 1.323 billion yuan, and 2.21 billion yuan, and net profits were 374 million yuan, 227 million yuan, and 304 million yuan. The revenue growth rates in 2019 and 2020 are -23.24% and 67.10% respectively; the net profit growth rates are -39.25% and 33.86% respectively. Despite the support of Han’s Laser, the gross profit margin of Han’s CNC is far lower than the industry average. From 2018 to 2020, Han’s CNC’s gross profit margins were 34.03%, 35.90%, and 34.92%, while the industry averages over the same period were 49.94%, 46.52%, and 44.01%, respectively. (Source: Han’s CNC Prospectus) In addition, the inventory of Han’s CNC has increased year by year and accounted for a relatively high proportion. From the end of 2018 to the end of 2020, the company’s inventory book value was 246 million yuan, 261 million yuan, and 799 million yuan, accounting for 14.32%, 15.19%, and 28.69% of current assets, respectively. From the end of 2018 to the end of 2020, the total book value of Han’s CNC’s notes and accounts receivable was 1.124 billion yuan, 972 million yuan, and 1.269 billion yuan, accounting for 65.51%, 56.66%, and 45.56% of current assets, respectively. In this regard, Han’s CNC stated that in 2020, due to the increase in orders for PCB special equipment, the company increased its inventory, resulting in a relatively high inventory balance. Han’s CNC stated that the high inventory balance will occupy a large amount of its working capital on the one hand, which puts the company under pressure on working capital; on the other hand, if there is an order cancellation or customer return due to changes in customer demand or major adverse changes in operating conditions Circumstances, may lead to the risk of stagnation and impairment of inventory, and the company’s operating results will be adversely affected. GPLP Rhinoceros Finance noted that in 2020, the substantial increase in operating receivables combined with the accumulation of inventory, Han’s CNC’s net operating cash flow turned from positive to negative. From 2018 to 2020, its net operating cash flow was 185 million yuan, 270 million yuan, and -509.714 million yuan. Han’s CNC stated that if the company cannot obtain financing in a timely manner, it may result in insufficient business operating funds, which will further negatively affect its financial status and production operations. (This article is for reference only, does not constitute investment advice, and operates at your own risk accordingly)

“Last March, I flew to Hanoi for work. Before that, I made a medical declaration on the web, but forgot to take a photo. I thought the data would be on the Bluezone app because this app also has a declaration section. , when I went to the airport to open the app, I knew I had to make a medical declaration from the beginning, which took time,” shared Ngoc Mai, an office worker living in Ho Chi Minh City. “On the last election day, I still had to make a medical declaration when I went to the place. I don’t understand why they didn’t let me scan the QR code that I just declared a few days ago,” said Ngoc Phuong, living in Ba Dinh district, Hanoi. said. Minister of Information and Communications Nguyen Manh Hung said that anti-epidemic applications currently use a unified data store. Photo: VGP. Share with Zing , a representative of the Department of Informatization, under the Ministry of Information and Communications affirmed that the database of applications is now interconnected, helping to increase the efficiency of the applications and reduce the cumbersome for people. Why does the application need data communication? Mr. Do Lap Hien, Deputy Director of the Center for E-Government, under the Department of Informatization, explained the inconvenience when applications use independent and unconnected data. “In the past, there were cases where people declared their health on the NCOVI app, then downloaded more Bluezone to protect themselves. When going to a quarantine point, opening the health declaration function on Bluezone, there is no previously declared data. This is really inconvenient. In the opposite direction, the trace group when accessing the information of the Bluezone app, the data in the app is just the phone’s code. They have to find the corresponding information in the NCOVI or VHD database to know who and where the close contact is. This process will reduce the tracking speed,” said Mr. Hien. Anti-epidemic applications all have medical declaration functions. Data warehouse interoperability ensures this functionality works across applications. Photo: Tuan Anh. During the National Online Conference on the situation and urgent solutions to prevent and control the Covid-19 epidemic on the morning of May 29, Minister of Information and Communications Nguyen Manh Hung said that the current anti-epidemic applications have used a unified data warehouse. . “Once synchronized, only one operation can access all information on the applications, more effective in fighting the epidemic,” Mr. Hien shared. Centrally connected IT applications, linked data. This is an important development step in the application of technology and data. Minister of Information and Communications Nguyen Manh Hung According to the representative of the Center, when updating to the latest version, the applications will use the linked data. This is to ensure that the people’s experience is seamless and unaffected. The latest version of Bluezone will be updated on the iOS and Android app stores this week. “For citizens and users, all changes must be ‘transparent’ to them. The application must not change anything about the user experience, only more convenient, “said Mr. Hien. App data will delete itself after a month Despite being propagated about anti-epidemic applications, many users said they encountered difficulties and inconveniences when using. For example, with the Bluezone application, having to constantly turn on the Bluetooth connection makes users worry about consuming the smartphone’s battery. “I installed Bluezone since last year, but sometimes it bothers me because there are too many notifications. Also, I don’t know if the app is effective because now I don’t see the number of people exposed to almost the same amount of time,” Anh Hoang said. , working in Hanoi shared. In addition, the information that people who do not install Bluezone may be fined is also confusing. Reply Zing , a representative of the Information Technology Department, Ministry of Health said that the fine or not will depend on local regulations. Bluezone application supports the process of tracing, close contact. Photo: VH. “The regulation clearly states that when going to a public place, it is mandatory to install the Bluezone application and turn on Bluetooth. If it is in a personal space, at home or in a place where there are not many people, it is not necessary. The sanction will depend on the risk or development of the epidemic in the locality. Thus, depending on the local situation, the sanction will be assigned to the People’s Committees of the provinces and cities for their own consideration and decision”, said Mr. Nguyen Truong Nam, Deputy Director of the Information Technology Department, Ministry of Industry and Trade. Health said. Personal data will be deleted after one month of storage so that people can rest assured to comply. Minister of Information and Communications Nguyen Manh Hung In addition, there are also concerns about the security of people’s personal information. Sharing about this issue, a representative of the Center for E-Government said that current data according to regulations will be deleted after 30 days. This number may change depending on the development of the disease and the requirements of the Ministry of Health. “Currently reserved data will be deleted after one month. When deleted, it will be completely deleted and cannot be retrieved, in order to ensure the privacy of users, “said Mr. Hien. Due to anti-epidemic requirements, many units and objects can access anti-epidemic data. However, depending on the scope and needs, these objects will have limited access. Not everyone can access the user’s data and information. In addition, according to the Minister of Information and Communications, wearable isolation monitoring devices will be deployed from June 1, immediately for workers in industrial parks. This bracelet is part of a seamless system, data will also be shared with other applications to ensure isolation. “Currently, the new bracelet solution is being tested at the request of the Ministry of Health. Regardless of the technology application, we will ensure that the data is attached to the application, which is part of the system.” representative of the Center for E-Government said.

The world’s longest pedestrian suspension bridge is located between two hills A pedestrian suspension bridge named 516 Arouca with a length of 516 meters has just opened in northern Portugal after 3 years of construction. The bridge, located inside the Arouca Geopark, hovers 175 meters above the Paiva River and connects two hills. The bridge as a tourist attraction for the Arouca area. It is next to the Paiva Walkways, an 8km trail that winds through the Arouca hills. When crossing the bridge visitors have views over the Pavia Gorge, towards the nearby Aguieiras Falls, and all the verdant rocky mountains in the Arouca geopark. The world’s longest pedestrian suspension bridge is held up by steel cables and two large towers at each end. This pedestrian suspension bridge that can see through will shake with every step. The pedestrian walkway is made up of 127 metal cages stacked together. Hugo Xavier, the first person to have the courage to cross this bridge, said: “I was a little scared, but the experience was very unique, extraordinary, well worth it for you to overcome your fear”. Rui Brandao, who participated in the experience but did not dare to look down, said: “I recommend you try this experience once in your life even if you have a fear of heights like me.” Visitors can admire the natural beauty of the national park while standing on the bridge 516 Arouca Bridge, designed by the Portuguese company Itecons, is inspired by the ancient Inca rope bridges spanning the gorge in the Andes. Margarida Belém, Mayor of Arouca said: “This is a remarkable national monument, the most iconic structure in Arouca and in the whole country. It has certainly become a landmark of the present. great”. It will take you about 10 minutes if you walk while enjoying the panoramic view of the surroundings such as waterfalls, canyons and fast flowing river below through the mesh at your feet; or about 4 minutes if you’re just trying to get through quickly because you’re afraid of heights. The bridge is currently Europe’s longest pedestrian suspension bridge, surpassing Switzerland’s 494-meter-high Charles Kuonen Bridge, completed in 2017. It is also the longest pedestrian suspension bridge in the world because the 567-meter Baglung Parbat Footbridge in Nepal is quite simple, the bridge deck follows a curve and is supported like a cable car.

CCOL platform interface. (Screenshots) On the morning of April 23, the CCOL Online Notary Platform was officially introduced by the Ministry of Information and Communications at “Vietnam Digital Challenge Forum”. Online Notary Platform CCOL is the first and only system that connects customers and notary service providers across the country with the orientation of fully implementing services. Notarized The online environment also allows organizations providing notary services to manage their operations as an independent business. The CCOL system allows users to choose notaries (CCV) and deliver documents for notaries to verify and prepare before bringing the originals to notaries for checking and checking, while still ensuring compliance with the Law. Notarization whereby the parties are required to sign in front of the notary. In addition, CCOL allows users to evaluate CCV and notary organizations so that the system will advise users to choose the best service quality assessed by the user. . This system will help people and businesses to limit the need to repeatedly travel to public servant places when the documents are incomplete, saving time and costs. On the other hand, during the epidemic period COVID-19 has not been completely controlled, this solution helps to avoid crowds and to limit infection in the community. The system also helps state agencies to perform quick real-time monitoring to be able to monitor and orient the administration of civil servants’ activities in the area quickly and intuitively. Mr. Tran Quoc Bao, CEO of Online Notary Company, said this platform helps people save more than 70% of time preparing papers compared to traditional notarization as well as help notaries shorten the time. Operations. CCOL platform is available on two operating systems iOS and Android. (Screenshots) “Vietnam Digital Technology Challenge Forum” is a continuation of the series of events “Technology Friday” launching platforms. number converter in 2020, organized in a new format. Accordingly, in addition to the introduction of the digital platform development unit, there will be more direct interaction sessions between the platform development team and the media, users in the form of a debate. Participants of the event will be asked questions, show frankly multi-dimensional perspectives on the platform and at the end of the session, everyone will be publicly voted for technology products and solutions. Make in Vietnam selected referral. The motto of digital transformation in 2021 is to actively seek and solve social problems and challenges. This will also be the guideline of the forum “Challenge Vietnam digital technology”, under which the selected platforms to launch in the framework of the forum will have to be the products born from the pain of the commune. Association, carrying the mission to solve those pains with digital technology./.

The town of Evian-Les-Bains located in the Rhone-Alpes region on the shores of Lake Geneva in southeastern France attracts visitors for its pure and refreshing mineral water. Derived from rain and ice on the top of the Alps, gradually seeping through many geological layers, new mineral water flows to the groundwater of this land. Evian natural mineral spring is one of the top destinations in the French Alps. It took 15 years for raindrops in the Alps to flow down deep underground. This world famous water is completely free for everyone. The small town has lots of free public water baths available to the residents. Therefore, visitors coming here often quench their thirst with this wonderful gift. From gym runners, housewives to tourists just bring bottles to collect water to use. 10 adjacent mountain peaks form a low-lying area of ​​about 35 km2 containing huge natural water resources. Many visitors come to town with the desire to once drink the famous pure water. The pure mineral water source of this region has been exploited and bottled since 1826. The mineral water bottles are gradually exported to many countries around the world. From Geneva airport (Switzerland), visitors take about 2 hours by train to reach the town. Not only famous for its mineral water stream, this place also has many other beautiful sights for you to explore. The majestic Lake Geneva is located in the middle of the Alps valley, impressed by the fresh air and unspoiled natural beauty. Here, you can take a relaxing walk or meditate. Climbing up the steep vineyards, boating or sunbathing by the lake, enjoying the sun, fresh air is also a memorable experience in town. In addition, visitors should not miss the famous spa sites with warm and relaxing natural hot tubs.