May 11th of the Lunar Calendar

NowadaysLookSummer graduation song at station B

My colleague said it was taken at his alma mater

I miss my student days

While envious of colleagues

So there are so many stars in the school

In the end, he said he was used to it

I have seen many stars come to school in the four years of university

Here are the other big news today

# Sichuan Bitcoin mining farm collectively cuts off power netizens: Nice job

(China Fund News) It is reported that due to policy reasons, China and even Sichuan, the world’s most important gathering place for Bitcoin mining machines, will usher in a large area of ​​mining machines. According to calculations, the shutdown load is about 8 million kilowatts. Following Inner Mongolia and Xinjiang, Sichuan, which is dominated by clean energy and hydropower, also failed to become the last bastion of Bitcoin mining in China.

A document “Notice of the Sichuan Provincial Development and Reform Commission and the Sichuan Provincial Energy Bureau on the Cleanup and Shutdown of Virtual Currency “Mining” Projects” shows that for virtual currency “mining”, relevant power companies in Sichuan need to do so on June 20. The screening, clean-up and shutdown work was completed a few days ago.

According to data from btc.com, the current average computing power of the entire Bitcoin network is 126.83 EH/s, which is nearly 36% lower than the historical high of 197.61 EH/s (May 13). At the same time, Bitcoin mining pools with Chinese backgrounds such as Huobi Pool, Binance, AntPool and Poolin have fallen sharply in their computing power. The decline in computing power in the past 24 hours has been 36.64%, 25.58%, 22.17%, and 8.05%, respectively.

:plus! Big! force! degree!

# The supply chain has received the design proposal of Huawei Mate 50, and the delivery time is to be determined

(House of IT) According to China Securities Journal, Huawei Supply Chain Company stated that they have received Huawei Mate 50 mobile phone design. “Huawei did not say that it will cancel the release, but the time for mass production and supply has not yet been determined.”

At present, Huawei officials have not yet officially responded to the above news. However, some Huawei coefficient code bloggers said that they will not be cancelled, but will be postponed, and will do their best to launch this year.

According to the period of Huawei’s previous release of new products, the P50 series of mobile phones should have been released in March, and the Mate 50 series should be launched in September this year and equipped with a new generation of Huawei’s self-developed chips.

: Tears again.

# Xiaomi’s three new screens broke the news: MIX4 is FHD+ Huaxing screen, and there will be direct screens next year

(House of IT ) Digital blogger @ 数码闲聊站 recently broke a lot of information about new under-screen cameras and new folding screens from various manufacturers. Although some did not clearly indicate that they are Xiaomi, I believe there are still some small partners who can see it.

Although the news is complicated, there are actually three products about Xiaomi. Digital blogger @ ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ release, Mi MIX4 and MIX FOLD will be released this year. , The latter supports 90/120Hz for both internal and external screens, while the third model is a direct-screen model with 1080p + 90Hz refresh rate and will be released next year.

Combined with the news of @数码闲聊站, the MIX FOLD under-screen version will be equipped with Qualcomm Snapdragon 888 chip, with 5000mah battery, and the rear main camera is still 108MP; while Xiaomi MIX4 will use the upgraded version of the Huaxing Optoelectronics under-screen solution shown last year , The hyperboloid AMOLED screen is expected to be around 6.67 inches, or it will support high refresh rates.

: There are so many people looking forward to MIX4.

# my country’s new crown vaccination has more than 1 billion doses, all regions continue to go all out to ensure vaccine supply

(CCTV )The National Health Commission announced today (June 20) that as of June 19, 31 provinces, autonomous regions, municipalities, and Xinjiang Production and Construction Corps had reported a total of 1.010.48 million doses of COVID-19 vaccine.

my country’s new crown vaccination has more than 1 billion doses, and all localities continue to make every effort to ensure the supply of vaccines, increase the organization and implementation of vaccination, and introduce a number of convenient measures to facilitate the people’s vaccination.

At present, all localities are taking effective measures to ensure the smooth progress of vaccination work.

: The second shot is over!

On the eve of the college entrance examination, Zhang Xifeng, a senior high school student in Hengshui Middle School, delivered a speech titled “A Little World, Big You”, which unexpectedly became popular on the Internet. His sentence “I am a native pig in the country, I want to go to the cabbage in the city” quickly sparked public opinion.

Hengshui Middle School where Zhang Xifeng is located is one of the first demonstration high schools in Hebei Province. It is widely known for its high enrollment rate and high-definition north rate, but the evaluation of Hengshui Middle School is mixed.

Although Hengshui’s education model has been criticized by many people, in recent years, super middle schools headed by Hengshui Middle School have risen rapidly and blossomed all over the country.

“blossom everywhere”

Hengshui Middle School was originally called “Hengshui County Middle School” and was established in 1951.

In the 1960s, it was designated as a provincial key middle school by the Hebei Provincial Department of Education. But even in the key counties in the Hengshui area, the ranking of Hengshui Middle School counts down all the year round.

In 1992, Li Jinchi was appointed as the head of the Hengshui High School in Hebei Province. With his own power, he took Hengshui Middle School from the middle and lower reaches of the 11 counties in Hengshui City to the top 100 in the province in 2004/number of people with more than 600 points/ Many indicators such as the number of people on the line have become the province’s first national prestigious school.

In 2014, Hengshui Middle School embarked on the path of capitalization. It cooperated with Taihua Company to establish a private high school-Hengshui No. 1 Middle School. In Hengshui, Hengshui Middle School is called the “North Campus” and Hengshui No. 1 Middle School is called the “South Campus”, and the two are often treated the same.

In fact, there is no difference between Hengshui No. 1 Middle School and Hengshui Middle School in terms of teaching system, teaching process, and examination time. Therefore, the so-called “Hengshui Middle School” does not distinguish between these two schools. But the biggest difference between them is that one is public and the other is private.

The college entrance examination results of Hengshui Middle School and Hengshui No. 1 Middle School confirmed the effectiveness of the Hengshui model. Since 2014, Hengshui Middle School and Hengshui No. 1 Middle School have blossomed all over the country through joint operations with local governments or educational institutions and new branch schools. These schools are all named “Hengshui”.

According to incomplete statistics from Blue Whale Education, public information shows that there are more than 30 branch schools in the country under the name of “Hengshui”. In Hengshui City alone, there are two private schools founded based on the management model of Hengshui Middle School, namely Hengshui Middle School Experimental School and Hengshui Ganyang Middle School; other campuses are also located in 24 cities in 11 provinces across the country.

Except for Hengshui city, other branch schools are located in Anhui Province (Hefei, Suzhou), Hebei Province (Tangshan, Baoding, Handan, Zhangjiakou, Dingyuan County of Chuzhou City), Zhengzhou City, Henan Province, Yunnan Province (Dianchi, Chenggong, Yiliang) , Xishan, Qujing, Yuxi, Xishuangbanna), Ordos, Inner Mongolia, Guizhou Province (Guiyang, Liupanshui), Sichuan Province (Zigong, Suining), Lanzhou City, Gansu Province, Nanchang City, Jiangxi Province, Datong City, Shanxi Province, Jiaxing City, Zhejiang Province, etc.

It is worth mentioning that Hengshui No. 1 Middle School’s longest cooperative branch school has gone abroad, and “Hengshui No. 1 Middle School Malaysia Branch” was established in Negeri Sembilan, Malaysia.

The road to high-speed capitalization

How does Hengshui Middle School move toward capitalization? How is the “balanced model” output?

According to public information, in terms of the cooperation model, Hengshui exports brand or management personnel and some teachers, the government provides school premises and enrollment policies, and enterprises provide funds. Blue Whale Education found that the names of cooperative schools include “Hengshui No. 1 Middle School” and “Hengshui Middle School”.

Among the institutions cooperating with Hengshui Middle School, there are many listed companies. On March 12 this year, the First High School Education was listed on the New York Stock Exchange. As of December 31, 2020, it has a total of 19 schools. Fifteen of them are named “Hengshui”. They are spread all over Yunnan, Inner Mongolia, and even counties in the name of Hebei Hengshui Middle School.

In addition, in 2014 Hengshui Middle School cooperated with Jingcheng Education Investment Company located in Suining, Sichuan, and established the “Hengshui Middle School Sichuan Branch” based on the original foreign language experimental school of Suining Middle School; on August 28, 2014, the private Zhangjiakou Dongfang Middle School Hengshui Middle School signed a contract with Hengshui Middle School to run a school to establish “Hengshui Middle School Zhangjiakou Branch”; April 9, 2016, Hengshui Middle School and Henan Yongwei Education Group signed a contract to establish “Hengzhong Henan Branch School”; May 20, 2016, Hengshui Middle School and private school Jiangxi Sanghai Middle School cooperated to establish “Hengshui Middle School Jiangxi Branch”; on December 21, 2016, Anhui Dingyuan Yinghua Middle School added the school card of “Hengshui Middle School Chuzhou Branch”; July 28, 2017, Hengshui Middle School and Anhui Sanhuan The group cooperated to create “Hengshui Middle School Anhui School”-and this is just part of many “joint schools”.

At the same time, “Hengshui No. 1 Middle School” has branch schools all over the country: including Hengshui No. 1 Middle School Fuping Campus, Hengshui No. 1 Middle School Liupanshui School, Hengshui No. 1 Middle School Kangbao Branch, Hengshui No. 1 Middle School Pinghu School, Hengshui No. 1 Middle School Peng Cheng Branch, Hengshui No. 1 Middle School, Lanzhou Branch, Hengshui No. 1 Middle School, Tangshan Branch, Baoding Heyang Hengshui No. 1 Middle and Senior High School, Heyang Hengshui No. 1 Middle School, Tangshan Branch, etc.

Among these institutions that jointly run schools with Hengshui No. 1 Middle School, He Yang Education submitted a prospectus to the Hong Kong Stock Exchange on February 11 this year. If it is successfully listed, there will be two listed education companies that are closely related to the name “Hengshui”.

High tuition, high return

After being named “Hengshui Middle School, Hengshui No. 1 Middle School”, what is the profitability of these educational institutions?

Take the first high school education and Heyang education as examples. The first high school’s 2020 financial report shows that it achieved revenue of 446 million yuan, a year-on-year increase of 32.5%; net profit was 80.9 million yuan, a year-on-year increase of 155.3%.

He Yang Education, which submitted the prospectus, is also in a state of steady development. According to its prospectus, its revenues were 396 million yuan, 481 million yuan, and 572 million yuan in the 2018-2020 fiscal year, and the compound growth rate of the most recent three fiscal years was 20.1%; it achieved profits in the 2018-2020 fiscal year. 165 million yuan, 229 million yuan and 256 million yuan, with a compound annual growth rate of 24.7%.

High returns come from high tuition fees.

According to the prospectus of No. 1 High School Education, in 2018, the average tuition fees of high schools, junior high schools and cram schools under No. 1 High School Education were 16,941 yuan, 10866 yuan, and 22,915 yuan, respectively, which were all higher than the average tuition fees of private schools in Yunnan Province over the same period. According to the CIC report, the average tuition fees of private high schools, private junior high schools, and private cram schools in Yunnan Province in 2018 were 9,739 yuan, 8,636 yuan, and 19,426 yuan, respectively.

It can be seen that the charging standard of “Hengshui” is likely to be higher than the average tuition level of ordinary schools. According to the Heyang Education Prospectus, in the 2020/21 school year, the tuition standard for Heyang Hengshui Middle School and Caofeidian Zhongheng High School is also as high as 19,800 yuan. In sharp contrast, during the same period, the tuition fee for undergraduate courses at Hebei University of Science and Technology under Heyang Education was only 16000-20000 yuan.

Controversy continues

With the blessing of capital, the development of “Hengshui Middle School” has entered the fast lane. But at the same time, it also attracted a lot of controversy.

According to related reports by The Paper, in June 2017, Hebei Taihua Jinye Real Estate Development Co., Ltd. issued a document called “Statement of the Board of Directors of Hengshui No. 1 Middle School” on its official website, signed by Hengshui Huarui Investment Co., Ltd. and Hengshui No.1 Middle School.

The statement stated that since the official seal of the private Hengshui No. 1 Middle School was forcibly removed by the principal of Hebei Hengshui No. 1 Middle School at 23:40 on September 19, 2014, the board of directors of Hengshui No. 1 Middle School has never authorized individuals and groups to cooperate in establishing branch schools. From 23:40 on September 19, 2014 to June 2017, all contracts and agreements signed in the name of Hengshui No. 1 Middle School and other school-running activities and business activities are not related to the board of directors and investors of Hengshui No. 1 Middle School. , Hengshui No. 1 Middle School’s financial account and investors have not received any sponsorship funds and franchise fees from any school.

Subsequently, in June 2017, the Hebei Provincial Department of Education issued the “Notice on the Rectification of Hebei Hengshui Middle School and Hengshui No. 1 Middle School”.

In the document, Hengshui Middle School and Hengshui No. 1 Middle School both put forward rectification requirements. The three rectification requirements of the Hebei Provincial Department of Education for Hengshui Middle School include: the legal representative of Hebei Hengshui Middle School shall not act on behalf of the legal representative of Hengshui No. 1 Middle School; the appointment of teachers in Hebei Hengshui Middle School to private schools should be approved by the Hengshui City Education Bureau, and shall not Affect the teaching activities of Hebei Hengshui Middle School; remove the relevant information related to Hengshui No. 1 Middle School from the official website of Hebei Hengshui Middle School, and no simultaneous occurrence of Hebei Hengshui Middle School and Hengshui No. 1 Middle School in the content related to external propaganda.

In addition, the capitalization of Hengshui Middle School has also caused controversy. Some people frequently questioned, “Is education used to make money?” On the other hand, Hengshui Middle School’s practice of “picking the top” of outstanding students has aroused resentment from other local schools. The education bureaus of Shijiazhuang, Chengde, Langfang, Zhangjiakou, Cangzhou, Xingtai, Handan and other places have issued opinions on handling illegal enrollment of private schools such as Hengshui No. 1 Middle School.

In fact, in recent years, the rapid development of “super schools” such as Hengshui Middle School, Huanggang Middle School, and Maotanchang Middle School is a manifestation of the Matthew effect. Some people commented that local education needs super middle schools, and parents of students also need super middle schools, and capital needs super middle schools. Even with doubts, under the influence of the Matthew Effect, the “super middle school” will only grow stronger.

At the moment, “education equity” has become a buzzword. And will the development and growth of super middle schools run counter to the concept of “educational equity”? In addition, the current regulatory policy for “pink-out enrollment” is accelerating the replenishment. How long can the “myth” of super high schools last?

Deutsche Bank, which had been plagued by scandals, falling revenues and high risks in previous years, made strong profits again at the start of the current year. Bubbling income in investment banking and a sharp decline in risk provisioning have brought the bank a surplus of 908 million euros – after a loss of 43 million in the previous year. Industry observers had expected a significant increase, but the actual numbers far exceeded expectations. The main driver was business in the capital markets, investment banking, where Deutsche Bank is one of the most important bond and currency traders in the world. Income in this area rose by a third to 2.5 billion euros. The bank was also able to score in the consulting and IPO business. With a pre-tax profit of 1.5 billion euros, more than twice as much as in the previous year, investment banking once again proved to be by far the bank’s most profitable line of business.

Aimed at eight percent return

At the same time, the group benefited from government aid for the economy. As a result, there were significantly fewer bankruptcies in the first quarter than feared, so that the bank was able to reduce its risk provision for bad loans to 69 million euros, after 506 million in the first quarter of the previous year. Overall, the money house has succeeded in increasing income while at the same time costs have continued to fall. “These results reinforce our expectation that we will achieve our goals for 2022,” said bank chief Christian Sewing. The aim is to increase the return on equity after taxes to eight percent. With 7.4 percent in the first quarter, it has come very close.

Confidence despite ongoing pressures

Inspired by the good numbers, Sewing was more confident in the morning for the year as a whole. “Not only can we look back on an excellent quarter, the outlook is also optimistic,” he wrote in a letter to the group’s almost 85,000 employees. The consequences of the low interest rates gradually had less of an impact on income in the retail and corporate banking business. At the same time, there are many indications that a considerable part of the income growth in the investment bank will prove to be sustainable. At the same time, Sewing also promised lower risk provisions for bad loans for the year as a whole. The bank continues to be burdened by the bad bank, which it calls the “unit for releasing capital”. There was a loss of 410 million in the first quarter. Although this is less than in the previous year, there are still loans at risk of default with a volume of 34 billion euros. In the private and corporate customer business, it is also struggling, like its competitors, with the low interest rates in the euro area.

8 provinces exceed the national average

Data show that in the first quarter of 2021, Shanghai people can earn the most, with a per capita disposable income of 21,548 yuan, and Shanghai is also the only region to break the 20,000 yuan mark. Followed by Beijing and Zhejiang, the per capita disposable income is 19,585 yuan and 18,263 yuan respectively.

Previously released data by the National Bureau of Statistics showed that in the first quarter of 2021, the national per capita disposable income of residents was 9,730 yuan, a nominal increase of 13.7% over the same period last year. Measured by this standard, in the first quarter of 2021, the per capita disposable income of residents in Shanghai, Beijing, Zhejiang, Jiangsu, Tianjin, Guangdong, Fujian, and Shandong exceeded the national average.

In terms of nominal growth rates, the growth of per capita disposable income of residents in the 10 provinces of Hubei, Zhejiang, Anhui, Inner Mongolia, Yunnan, Guizhou, Guangdong, Ningxia, Jiangsu, and Sichuan outperformed the country in the first quarter, with Hubei’s nominal growth rate reaching 24.4%.

Wage income is the cornerstone of driving residents’ income growth

According to income sources, in the first quarter, the national per capita wage income was 5,505 yuan, an increase of 12.4%, accounting for 56.6% of disposable income. Fang Xiaodan, director of the Household Survey Department of the National Bureau of Statistics, explained that wage income is the cornerstone of the growth of residents’ income.

Fang Xiaodan further analyzed that since the first quarter, the national economy has continued to recover steadily, and the effect of ensuring employment for residents and ensuring market players has continued to show. At the same time, the local Chinese New Year has significantly increased residents’ working hours, accelerated industrial production growth, and the gradual recovery of the service industry, which has led to an increase in rural residents’ going out to work, laying a solid foundation for the steady growth of urban and rural residents’ wage income.

51job.com recently released the “Salary Research Report for the First Quarter of 2021” and pointed out that the current company has adapted to the “normalization of the epidemic” and its operations have stabilized. Compared with 2020, the internal and external conditions for the company to adjust employee compensation have gradually improved. As an important adjustment window for the annual salary, a considerable proportion of enterprises have made corresponding salary adjustments in the first quarter.

The above report also mentioned that by geographical space, non-first-tier developed cities led the increase in salary; according to the nature of the company, private and state-owned enterprises were relatively leading; according to the type of industry, financial/investment/securities, communications/telecommunications/networks The equipment industry, electronic technology/semiconductor/integrated circuit industry led the salary increase.

Data map: RMB.Photo by Xiong Siyi, Sino-Singapore Jingwei

Regarding income increase, experts say this

This year’s government work report proposes to stabilize and expand consumption. Increase residents’ income through multiple channels. Efforts will be made to increase the income of low-income groups and expand middle-income groups. The growth of per capita disposable income of residents is basically synchronized with the growth of GDP.

In addition, the “14th Five-Year Plan” outlines the implementation of an action plan to expand the middle-income group, focusing on college and vocational college graduates, skilled workers, and migrant workers, and continuously increasing the proportion of the middle-income group.

How to achieve the goal of “Expanding China”? In an interview with the Overseas Edition of the People’s Daily, Su Hainan, a special researcher of the Chinese Society of Labor, said that employment is the biggest livelihood of the people and the source of the expansion of middle-income groups; improving the quality of middle- and high-level employees is an important support for the “expansion”.

It is worth mentioning that Cai Fang, chief expert of the National High-end Think Tank of the Chinese Academy of Social Sciences and a member of the Monetary Policy Committee of the Central Bank, said that in the future, more than 100 million rural people will gradually become middle-income groups, and 290 million migrant workers will gradually become middle-income groups, 2.45 Hundreds of millions of elderly people over 60 years old are gradually leading a middle-income life.

In early April, Xia Gengsheng, deputy director of the National Bureau of Rural Revitalization, stated that to achieve the leap from poverty alleviation to entering the middle income, three main measures were taken: first, to promote income growth through the development of industries, second, to promote income growth through stable employment, and third through innovation. Entrepreneurship promotes income growth. (Zhongxin Jingwei APP)

Edit｜ Zhang Yating

On April 28, the Securities Regulatory Commission’s website pre-disclosed China Telecom’s prospectus. Yesterday, China Telecom’s application for the issuance and listing of A shares was accepted by the China Securities Regulatory Commission.

According to the prospectus, subject to regulatory requirements such as the minimum issuance ratio in the place of listing, China Telecom intends to publicly issue no more than 12,093,342,392 A shares (that is, no more than 13% of the total issued share capital after the issuance, and before the over-allotment option is exercised) ). At the same time, China Telecom can authorize the lead underwriter to exercise the over-allotment option under the premise of complying with laws, regulations and regulatory requirements, and the over-sale of A shares does not exceed 15% of the number of A shares issued (before the over-allotment option is exercised). .

China Telecom intends to take advantage of the opportunity of issuing A shares to introduce strategic investors with complementary advantages and synergy effects with the company, further improve corporate governance and market-oriented operation mechanisms, expand the ecological territory, and enhance the company’s products and services, technological innovation and other fields. Comprehensive Competitiveness.

In terms of operating performance, China Telecom has seen steady growth in operating revenue in recent years, leading the industry in service revenue growth for many years, and increasing net profit year by year. In 2018, 2019 and 2020, operating income was 374.929 billion yuan, 372.20 billion yuan and 389.939 billion yuan, and the net profit attributable to shareholders of the parent company was 20.432 billion yuan, 20.521 billion yuan and 20.855 billion yuan, respectively.

In terms of business development, China Telecom ranks first in the industry in a number of indicators. As of December 31, 2020, the scale of mobile users has reached 351 million, and the number of net additions has led the industry for three consecutive years. Among them, 5G package users have reached 86.5 million, with a penetration rate of 24.6%, ranking first in the industry. In 2020, the industry’s digital revenue reached 84 billion yuan, ranking first in the industry; Tianyi Cloud ranked first in the global operator public cloud IaaS, and its revenue scale ranked first among domestic operators; IDC resources have the largest number and widest distribution , Is the largest IDC service provider in China.

In terms of reform and innovation, China Telecom has made remarkable achievements in technological innovation, promoting independent control of core technologies in the fields of cloud-network integration, 5G, security, Internet of Things, and smart homes. Actively undertake major national scientific and technological research tasks. Since 2018, it has undertaken a total of 26 national key scientific and technological research and development projects. In 2020, 40 international standardization projects will be completed. As of the end of 2020, the number of valid patents has exceeded 3,000. China Telecom implements the strategy of strengthening the company with talents and builds a talent team with differentiated competitive advantages. Implementing a market-based incentive mechanism, according to the latest value-added rights plan in 2021, and in accordance with the principles of “divided by contribution”, “divided by potential”, and “acquired by performance”, 8,239 core staff members were granted approximately 2.412 billion shares of stock appreciation rights. Vigorously promote the market-based selection and employment mechanism, and continue to increase the introduction of 5G, cloud-network integration, and ABCI related talents.

In terms of the use of raised funds, the net funds raised this time are planned to be used for 5G industrial Internet construction projects, cloud-network integration new information infrastructure projects, and technological innovation research and development projects. The total investment scale in the next three years will be 102.1 billion yuan, of which, it is planned to use The amount of raised investment funds will reach 54.4 billion yuan.

Through the in-depth implementation of the “cloud-to-digital conversion” strategy and this A-share listing, China Telecom will comprehensively enhance the company’s competitiveness, innovation, control, influence, and anti-risk capabilities, and strive to build a service-oriented, technology-based, and secure enterprise . Looking forward to the next three years: China Telecom’s technological innovation capabilities and talent innovation vitality have been significantly enhanced, the industry’s digital expansion capabilities have been significantly improved, the business structure has been further optimized, and the proportion of industry digital revenue has increased year by year. The layout of the strategic emerging industry segments has been further strengthened, the development model and growth mode have been effectively transformed, the operating income has grown steadily, the income and profit margin has been steadily improved, and the value of the company has been newly improved.

Compared with the fact that funds frequently experienced explosive products and the fund’s net value repeatedly hit new highs in the previous period, only a quarter has passed, but the investment enthusiasm in the fund market has significantly cooled down. At the same time, due to the impact of market adjustments, the performance of common public funds in the first quarter was not satisfactory. According to data, the overall loss of public funds in the first quarter of 2021 was 210.266 billion yuan, and the total loss of equity funds and hybrid funds was close to 300 billion yuan.

The loss of funds is largely related to the market decline in the first quarter. Among them, the ChiNext Index, the leading index in the A-share market, has experienced the largest cumulative drop of nearly 25% since peaking this year. In addition, the Shanghai Composite Index, which has a high degree of market attention, has the largest cumulative drop of about 10% during the year.

Although the volatility of the market index in the first quarter was great, the degree of market differentiation did not decrease. Even if the market index showed a rapid decline in the first quarter, it was mainly affected by the sharp decline of the White Horse stock. As a white horse stock with a higher market weight, its irrational adjustment trend will definitely have a greater impact on the market index. pressure. However, on the other hand, for the small and medium-sized market capitalization stocks whose growth rate was low in the previous two years, and even far underperformed the market index during the same period, their overall performance this year has not been inferior, and they basically have a certain degree of resilience. This is also the year The manifestation of the serious market differentiation.

While the fund’s performance was poor and the overall loss occurred in the first quarter, the enthusiasm for fund issuance was also largely affected. At the beginning of the year, we also frequently saw the phenomenon of intensive issuance of hot funds, but now, the enthusiasm for fund issuance has dropped to a freezing point.

Faced with the phenomenon that fund issuance has dropped to a freezing point, it is mainly affected by the market environment. In the context of intensive fund issuance and concentrated fundraising in the early stage, in fact, the homogeneity of the overall fund market is still very obvious. Although there is a lot of private capital in the domestic market, the capital is smart and they are willing to find investment channels with profitable effects. Therefore, in the context of intensive fund issuance, it is easier for star funds to complete their fund-raising goals in a short period of time, but for small and medium-sized funds, the task of fundraising is still relatively arduous, and they may even face failures in issuance. risk.

From the historical performance analysis, when the hot funds frequently appear or the average fund position reaches a historical high, this time often indicates that the market may face the risk of adjustment. On the contrary, when funds frequently fail to issue, or when the average fund position declines rapidly, it often indicates that the market adjustment has come to an end.

Judging from the magnitude of the adjustment, many White Horse stocks have generally fallen between 20% and 30%. This level of decline is not low. Relative to the stock price, it has suddenly fallen from the highest position of the bull market to the vicinity of the bull-bear boundary. However, from the analysis of the adjustment cycle, since the adjustment on February 18 this year, the adjustment time of the A-share market has only been 2 months, which is not enough to indicate that the market adjustment has been fully realized. However, judging from the current level of the major market indexes, the technical bear market has not yet been touched, so for the major market indexes, it can still be defined as a bull market.

Since the market operation trend can still be defined as a bull market environment, the adjustment market in the first quarter of this year can be regarded as a mid-term adjustment market under the bull market. However, from the time of adjustment, it seems to be insufficient, and the future market does not rule out that it will complete this turbulent process in the form of time for space.

With the continuous disclosure of the annual report of the A-share market and the quarterly report, the valuation level of the A-share market will also improve to a certain extent. Judging from the financial report data of listed companies in the first quarter of this year, most listed companies have shown their performance pre-happy, which will also add points to the profitability of A-share listed companies this year, and the corresponding valuation pressure will also decrease.

At this stage, the biggest external risk comes from the end of the Fed’s easing cycle or the trend of in-depth adjustments in the US stock market. Internally, there may be concerns about changes in the policy environment, which may affect the high degree of market rebound. However, due to the better domestic economic fundamentals and the strong profitability improvement capabilities of listed companies, under the background of low stock market valuations, the market downside will also be limited. This year, there is a high probability that they will get out of the turbulent market.

Mr. Bui Quang Huy – Alternate Member of the Party Central Committee, Permanent Secretary of the Central Youth Union, Chairman of the Vietnam Youth Association, awarded certificates of merit to excellent units in the Youth Month 2021. Many creative models Mr. Dao Chi Nghia – Secretary of the Can Tho Youth Union said: Can Tho established the Youth Development Steering Committee of Can Tho city. The Steering Committee focuses on directing the implementation of activities in the Youth Month and Youth Volunteer Campaign Summer 2021; At the same time calling for the support of authorities, units and businesses. “During the Youth Month, we create an environment for the Youth Union members, young people contribute their youth to the difficult front of the city, with the motto that each grassroots union organization performs a youth project”, Mr. Nghia said. . With that innovation and strong participation, in Youth Month 2021, Can Tho implemented 747 youth projects at all levels, with a total value of 36 billion VND. In addition, there are 6 businesses committing to accompany youth volunteer activities throughout the year 2021, with resources of 36 billion VND support. Ms. Nguyen Thi Ngoc Xuan – Secretary of Doan Binh Province, exchanged at the conference Ms. Nguyen Thi Ngoc Xuan – Secretary of the Youth Union of Binh Duong, said: The Youth month of 2021 has a characteristic of both organizing activities and preventing the COVID-19 epidemic, so the Youth Union of Binh Duong has been proactive and flexible. towards grassroots, split activities, promote propaganda before, during and after Youth Month, connect resources and support; at the same time, to deploy works and jobs so that young people can have space and conditions to dedicate their youth and wisdom to their localities and units. With that innovation, Binh Duong has achieved and exceeded all the targets set in Youth Month. One of the prominent models of Binh Duong is the organization Kitchen connects love . Every Sunday, young people cook hundreds of free meals for workers in difficult circumstances. From these meaningful activities, the vitality of the Union and the Union has been enhanced. According to Xuan, since Binh Duong has 53.5% of the migrants, the province’s policy is to take care of the people so that people can see Binh Duong as a second home. “We organize good social security, support young workers in difficult circumstances. The provincial Youth Union set up a support fund to visit difficult cases; coordinate with businesses and people to reduce the cost of living and living for young workers. At the same time, it encourages young people to share difficulties with businesses … Thanks to that, despite the impact of COVID-9 epidemic, the business and production situation in Binh Duong is still guaranteed ”, Ms. Xuan said. One of the prominent models of Binh Duong is the organization Kitchen connects love . Every Sunday, young people cook hundreds of free meals for workers in difficult circumstances. From these meaningful activities, the vitality of the Union and the Union has been enhanced. Delegates share at the conference Mr. Ha Duc Minh – Secretary of the Lao Cai Provincial Youth Union, said: Due to being a border area, the province has quite a high number of workers going to China to work, recently massively returned to the locality because of COVID-19. Therefore, the Mission focuses on supporting livelihoods for these young people to have a sustainable economy; science and technology transfer, job search support. “Everywhere, we can see that the green shirt color is always attached to people in poverty reduction and accompanying young people in difficulty” In particular, on the 90th anniversary of the establishment of the Ho Chi Minh Communist Youth Union, we have carried out 999 projects in the whole province and undertook to support 900 poor households to escape poverty. This is a new and difficult job, but the Union’s support has spread throughout and has spread to the corps level. Everywhere, the green shirt color is always attached to people in poverty reduction and accompanying young people in need, ”Mr. Minh said. Most of the targets are impressive In the Youth month of 2021, the Youth Union at all levels mobilized 1,344,522 turns of young people volunteering to participate in building a new countryside and a civilized city (increasing 2.58 times compared to 2020); newly planting 1,894,707 trees, newly built 230 rural traffic bridges (an increase of 78.3% compared to the number of newly built bridges in 2020). There are 2,240,000 youth union members and youth participating in Youth Month activities in 2021 (an increase of 193% compared to 2020). In the Youth month of 2021, the Youth Union at all levels mobilized 1,344,522 turns of young people volunteering to participate in building a new countryside and a civilized city (increasing 2.58 times compared to 2020); newly planting 1,894,707 trees, newly built 230 rural traffic bridges (an increase of 78.3% compared to the number of newly built bridges in 2020). There are 2,240,000 youth union members and youth participating in Youth Month activities in 2021 (an increase of 193% compared to 2020). National Youth Union members and youth have proposed 81,185 creative ideas (an increase of 19.1% compared to 2020). In which, there are ideas, contributions to the Youth Union’s work, youth gathering, ideas about protecting the ecological environment, supporting young people to start a business, establish a career, associated with public themes. year 2021. The whole delegation organized 16,414 classes to foster awareness about the delegation, admitted 291,834 new union members (increased 3 times compared to 2020). There are 35,292 excellent union members introduced to the Party for consideration and admission, of which 6716 excellent members are admitted to the Party (increasing 33% and 27% compared to 2020, respectively). In particular, many of the Youth Month’s targets reached and exceeded the targets set out under the Youth Union’s work program and the youth movement in 2021. Typically, the number of creative startup projects of young people are supported by the Youth Union. support is 3,012, exceeding 231.3% of the target for 2020. Mr. Bui Quang Huy, alternate member of the Central Committee of the Communist Party, Permanent Secretary of the Central Youth Union, and President of the Central Vietnam Association of Vietnamese students speaking at the conference Speaking at the Conference, Mr. Bui Quang Huy, Alternate Member of the Party Central Committee, Permanent Secretary of the Central Committee, Chairman of the Vietnam Youth Association said: Youth Month 2021 took place in a very special context. Special: The XIII Congress of the Party ended successfully; celebrating the 90th anniversary of the establishment of the Communist Party of Vietnam; The Law on Youth was born … Besides, the Central Youth Union and other provinces and cities also implemented a number of activities to prevent the epidemic, COVID-19. Anh Huy assessed that Youth Month 2021, provinces and cities of the Youth Union have actively and flexibly innovated from the content to the form of extensive political activities. “The Youth Month 2021 really becomes a show of force for the Youth Union at all levels; creating a joyful atmosphere, highly appreciated by the commissars, authorities at all levels, the society “, Mr. Huy emphasized and said that the Youth Month 2021 achieved comprehensive results. In particular, there are many innovative and effective models that have caught up with the youth trend. According to Huy, this result reflects the historical adaptation. “The Youth Month 2021 really becomes a show of force for the Youth Union at all levels; creating a joyful atmosphere, highly appreciated by the commissar, authorities at all levels, society “- Mr. Bui Quang Huy – Alternate member of the Central Committee of the Communist Party, Permanent Secretary of the Central Committee of the Youth Union, and Chairman of the Central Association of Vietnamese students. From the successes achieved, Permanent Secretary of the Central Youth Union Bui Quang Huy noted that the Youth Union at all levels continue to proactively and flexibly deploy activities skillfully, suitable for each young object. According to Mr. Huy, the new situation is a test for the Youth Union at all levels. “We need to change quickly, adapt to the new situation and embrace our forces,” Huy said. Mr. Bui Quang Huy – Alternate member of the Central Party, Permanent Secretary of the Central Youth Union, President of the Vietnam Youth Association, awarded certificates of merit to excellent units of the Youth Month in 2021 At the Conference, 38 excellent units in the Youth Month received Certificates of Merit from the Central Committee of the Youth Union. Sponsorship news