Financial crime Malta graylisted for Financial crimes

Status: 06/24/2021 9:40 a.m.

Corruption, money laundering and “golden passports”: the Mediterranean island of Malta has fallen into twilight. An international institution to combat money laundering now wants to monitor the country more closely. The attempts by the Maltese government to avert the decision of the Financial Action Task Force (FATF) were unsuccessful: The international institution for combating money laundering, terrorist financing and the financing of weapons of mass destruction has put Malta on the gray list for financial crimes, according to the Times newspaper of Malta “reported. Inclusion on this list means that the country is under increased surveillance, that it is being monitored more and more. At the same time, the state undertakes to remedy the deficiencies identified in the context of financial crime. Who is the FATF?

The Financial Action Task Force, based in Paris, is an independent international institution that develops and promotes measures to combat money laundering, the financing of terrorism and the financing of weapons of mass destruction. It was founded in 1989 by the G7 countries and currently has 37 members. More than 200 states and jurisdictions have committed to complying with the FATF standards. The FATF is supported by a secretariat affiliated with the Organization for Economic Cooperation and Development (OECD).

Malta pledges cooperation

Prime Minister Robert Abela confirmed the decision and described it as “unjust”. Most of the concerns expressed by the reviewers have already been addressed. Malta wants to continue with its reform program, said Abela. “We will intensify our exchanges to better explain Malta’s achievements and to ensure that they are respected and understood by the international community.” Malta will never show itself to be uncooperative in the fight against financial crime or resist it, he assured the international partners.

Cayman Islands and Syria are also on the gray list

It is not the first time that Malta has fallen into twilight: the country has already been screened for financial crime more intensely because of its “golden passport” program. Like Cyprus, Malta had granted citizenships in return for financial commitments. The EU Commission then initiated infringement proceedings.

With the jump on the gray list of the FATF there is now a further loss of reputation for the country. As of February 2021, the FATF gray list includes countries such as Burkina Faso, the Cayman Islands, Ghana, Mauritius, Panama, Syria, Uganda, Yemen and Zimbabwe.

Germany holds the FATF presidency

Germany took over the presidency of the FATF in July 2020. The term of office of Marcus Pleyer from the Federal Ministry of Finance ends on June 30, 2022.

Marcus Pleyer is currently the President of the FATF. Image: Felix Zahn / photothek.net

Incidentally, the Federal Republic of Germany is currently also being routinely audited by the FATF. In its last evaluation in 2010, the organization came to the conclusion that Germany was susceptible to money laundering and terrorist financing

Marktbericht

Deutliche Kursgewinne Die Wall-Street meldet sich zurück

Stand: 21.06.2021 22:24 Uhr

Ähnlich wie beim DAX haben auch die US-Märkte zum Wochenstart in einer Gegenbewegung deutlich zugelegt. Zinsängste sind etwas abgeflaut. Nun blickt alles auf Notenbank-Chef Jerome Powell. Die New Yorker Börsen haben zum Wochenstart den Schock vom Freitag wieder abgeschüttelt und deutlich Boden gut gemacht. Unter Führung des Leitindex Dow Jones, der 1,76 Prozent oder fast 600 Punkte zulegte auf 33.876 Punkte, lagen zum Handelsschluss alle Indizes komfortabel im grünen Bereich. Auch die zunächst schwächer gestartete Technologiebörse Nasdaq war im Verlauf ins Plus gedreht und gewann 0,8 Prozent. Der Auswahlindex Nasdaq 100 ging bei 14.137 Punkten um 0,6 Prozent ebenfalls höher aus dem Handel. Der breiter gefasste S&P-500-Index baute seine Anfangsgewinne aus und schloss 1,4 Prozent höher bei 4224 Punkten. Zum Wochenstart standen kaum nennenswerte Konjunkturdaten auf dem Programm. Von dieser Seite blieb der Kursimpuls also gering.

Alle Augen auf Jerome Powell

Für solche Kursimpulse ist nicht nur für die US-Börsen derzeit fast ausschließlich die Notenbank Federal Reserve zuständig. Die Augen der Investoren richten sich nun auf eine Anhörung des Fed-Chefs Jerome Powell vor Teilen des US-Kongresses an diesem Dienstag. Dabei geht es um die Reaktion der Notenbank auf die Corona-Pandemie. Die Äußerungen Powells dürften genau auf Hinweise zur künftigen Geldpolitik abgeklopft werden. “In gewisser Hinsicht verhalten sich die Anleger so, als ob die US-Notenbank ihre Unterstützung für die US-Wirtschaft vollständig einstellen würde, auch wenn nichts weiter von der Wahrheit entfernt sein könnte”, schrieb Marktanalyst Michael Hewson vom Handelshaus CMC Markets. Eine etwas differenziertere Betrachtung des jüngsten Zinsbeschlusses der Fed also. “Wir glauben, dass der neue Ausblick der Fed in absehbarer Zeit nicht zu deutlich höheren Leitzinsen führen wird”, so die Analysten von BlackRock. Unter den 30 Einzelwerten im Dow Jones gab es keinen einzigen Verlierer, Tagessieger waren die Papiere des Kreditkartenriesen American Express. Für Finanzwerte würden höhere Zinsen Rückenwind bedeuten, steigen dadurch doch die Margen und somit die Gewinne.

DAX schließt am Tageshoch

Aufatmen auch an der heimischen Börse. Der DAX hat nach schwachem Start im Handelsverlauf die Kurve gekriegt und damit nach den deutlichen Verlusten vom Freitag Stärke gezeigt. Dies trotz der sich abzeichnenden Zinswende in den USA, die die Anleger aber weiter umtreibt und auf der Tagesordnung der Börse(n) weiter ganz oben steht. Denn die US-Notenbank Federal Reserve hat zwar klar gemacht, dass die Zinsen perspektivisch wieder anziehen werden, bis es aber soweit ist, könnte es noch dauern. Am Ende eines volatilen Handelstages schloss der deutsche Leitindex bei 15.603 Punkten ein Prozent fester und zudem nur knapp unter seinem Tageshoch bei 15.606 Punkten. Zum Handelsstart hatte es allerdings nicht nach einem Happy-End ausgesehen, das Tagestief lag bei 15.309 Punkte immerhin rund 300 Zähler tiefer als der Schlusskurs. Positiv auch, dass der DAX sogar auf Schlusskursbasis über seiner technischen Unterstützung von 15.500 Punkten endete, was eine gewisse Absicherung nach unten bietet.

Das neue Szenario ist noch nicht in trockenen Tüchern

Aber trotz der Intra-Day-Erholung: Potenzielles Störfeuer gibt es weiterhin reichlich. Denn der Fed-Beschluss ist nicht in Stein gemeißelt, was den Zeitpunkt erster geldpolitischer Straffungen betrifft. James Bullard, der Präsident der regionalen US-Notenbank Fed von St. Louis, hatte am Freitag eine Leitzinserhöhung bereits im kommenden Jahr ins Spiel gebracht. Prompt sackten die Märkte ab. Es dürfte daher wohl noch etwas dauern, bis sich die Anleger mit dem neuen und wohl auch volatileren Umfeld für die Kapitalmärkte arrangiert haben. “Das Interessante an dieser Korrektur ist, dass sie verzögert war, so dass der Markt eine Weile brauchte, um die Nachrichten zu verarbeiten”, sagte Sebastien Galy, Stratege bei Nordea Asset Management.

Von der EZB droht keine Gefahr

Während die Anleger über den Fed-Kurs rätseln, können sie sich dies in Bezug auf die EZB sparen. Trotz der zuletzt auch in Europa anziehenden Inflationsgefahren ist von einem Ende der ultralockeren Geldpolitik weit und breit nichts in Sicht. Das machte heute Bankchefin Christine Lagarde nochmals deutlich. Es gelte weiter wachsam zu bleiben, auch wenn sich der Ausblick angesichts der verbesserten Corona-Lage “in der Tat” aufhelle, sagte Lagarde am Montag in einer Videoschalte vor einem Ausschuss des Europa-Parlaments. Die geldpolitische Unterstützung müsse bis weit in die Phase der Konjunkturerholung hinein eine Brückenfunktion einnehmen. Lagarde machte einmal mehr deutlich, dass die EZB den jüngsten Anstieg der Inflation als vorübergehend ansieht.

Christine Lagarde

Autoaktien, Siemens, BASF & Co. gefragt

Nach den stärkeren Verlusten am Freitag stiegen heute erste Schnäppchenjäger auf tieferem Niveau wieder ein. Teilweise gab es bei den Einzeltiteln deutliche Gewinne von über zwei Prozent. Gefragt waren Autoaktien, aber auch andere Zykliker – also Unternehmen, deren Geschäfte stark vom Konjunkturverlauf abhängen – wie Siemens, BASF oder Covestro. Rückenwind erhielten die exportstarken Branchen derzeit vom zuletzt schwachen Euro, ein Effekt, der nicht zu unterschätzen ist. Am Indexende standen die beiden Fresenius-Papiere, und auch Bayer gaben nach. Gegen den Leverkusener Konzern wurde am Abend eine weitere Klage wegen des umstrittenen Unkrautvernichters Glyphosat vor Gericht in den USA eingereicht.

Sorgen um Delta-Variante

Potenzielles Störfeuer könnte aber auch noch von einer anderen Seite kommen. Denn mit der sich ausbreitenden hochansteckenden Delta-Variante des Coronavirus meldet sich derzeit ein alter Bekannter wieder zurück. Eine Entwicklung, auf die nicht nur die Märkte gerne verzichtet hätten – und die natürlich allemal das Zeug dazu hat, für viel Unsicherheit zu sorgen. Zwar sind die Infektionszahlen hierzulande (noch) niedrig; die Frage ist aber nicht, ob sich das Virus hierzulande stärker verbreiten wird, sondern wie und wann. Der Impfkampagne kommt damit auch für die Kapitalmärkte noch größere Bedeutung zu als ohnehin.

Euro erholt sich

Volatil geht es heute auch am Devisenmarkt zu. Die neuen Zinsspekulationen in den USA haben dem Dollar zu Wochenbeginn zunächst größeren Auftrieb verleihen, der Greenback stieg im frühen Handel gegen den Euro bis auf 1,1848 Dollar. Mittlerweile sind die Anfangsgewinne aber in einer starken Gegenbewegung wieder verloren gegangen. Der Euro liegt im US-Handel bei 1,1917 Dollar sogar wieder knapp ein halbes Prozent im Plus. Seit Mittwoch hat der Euro nach dem Zinsentscheid der Fed allerdings unter starkem Druck gestanden und bis zu knapp drei US-Cent an Wert verloren. Aus Händlerkreisen hieß es, dass die Erholung am Aktienmarkt dem Euro Rückenwind gegeben habe. Der Dollar gilt in Zeiten hoher Unsicherheit und Krisenzeiten als sicherer Hafen. Wenn die Anleger dann wieder bereit sind, größere Risiken einzugehen, fällt er meist wieder zurück. Die Europäische Zentralbank (EZB) setzte den Referenzkurs auf 1,1891 (Freitag: 1,1898) US-Dollar fest.

Iran-Wahl stützt die Ölpreise

Die Ölpreise sind am Montag gestiegen. Bis zum Abend haben sie leichte Gewinne aus dem frühen Handel deutlich ausgebaut. Marktbeobachter verwiesen auf eine allgemein freundliche Stimmung an den Finanzmärkten und die jüngste Kursentwicklung am Devisenmarkt. Die Ölpreise erhielten am Nachmittag Auftrieb durch eine leichte Kursschwäche des US-Dollar. Zugleich erhalten die Preise Unterstützung durch den Wahlausgang im Iran und die nach wie vor ergebnislosen Verhandlungen über das iranische Atomprogramm: Die US-Sanktionen dürften so schnell nicht gelockert werden, mit einem größeren Ölangebot aus dem Iran ist vorerst nicht zu rechnen.

“Todeskreuz” und China-Sorgen beim Bitcoin

Kryptowährung geraten zu Wochenbeginn deutlich unter Druck. Der Bitcoin fällt auf rund 32.400 Dollar und damit rund neun Prozent zurück. Als Grund wird auf das harte Vorgehen Chinas gegen das Krypto-Mining verwiesen. Darunter versteht man die digitale Herstellung von Internet-Währungen über komplizierte Rechenoperationen. Zudem erhöht China den Druck auf die heimischen Banken: Diese sollten sich nicht in Kryptowährungsgeschäften engagieren. Charttechnische Verkaufssignale beschleunigen die Talfahrt des Bitcoin zusätzlich. Am Wochenende hatte der Durchschnittskurs der 50 vorangegangenen Tage den 200-Tages-Schnitt unterschritten. Diese Konstellation heißt im Börsenjargon “Todeskreuz” und gilt als Startschuss für weitere Verkäufe.

Auto1 ab heute im MDAX

Heute sind die von der Deutschen Börse beschlossenen Index-Änderungen wirksam geworden. Neu im MDAX sind die Papiere des Online-Gebrauchtwagenhändlers Auto1. Auch im SDAX gibt es einige Änderungen, so steigen etwa die Anteile der Vodafone-Funkmastentochter Vantage Towers in den Nebenwerteindex auf. Im DAX bleibt alles beim Alten.

BMW-Chef verteidigt Verbrenner-Strategie und will Kosten deutlich senken

BMW-Chef Oliver Zipse hat die Strategie seines Konzerns verteidigt, langsamer als etwa der heimische Konkurrent Audi aus der Produktion klassischer Verbrennermotoren auszusteigen. “Die wahren Entscheider in unserer Industrie sind die Kunden”, sagte der Manager der “Passauer Neuen Presse”. Zwar werde es in den kommenden 15 Jahren Städte, Regionen und Länder geben, in denen sich der Transformationsprozess zur Elektromobilität vollständig vollziehe. Aber in der Summe der weltweit 140 BMW-Märkte werde das nicht der Fall sein. Zudem will das Unternehmen die Herstellungskosten deutlich senken. “Wir werden bis 2025 die Produktionskosten pro Fahrzeug um 25 Prozent senken – gemessen an dem Niveau von 2019”, sagte Vorstandsmitglied Milan Nedeljkovic dem “Handelsblatt” (Dienstagausgabe). Dies solle über die Digitalisierung von Planungsprozessen, eine schlankere Logistik sowie eine bessere Auslastung der bestehenden Werke geschehen, hieß es vorab.

Porsche produziert künftig Batteriezellen im kleinen Stil

Der zum VW-Konzern gehörende Sportwagenbauer Porsche will zusammen mit einem Partner im kleinen Umfang Hochleistungs-Batteriezellen herstellen. Die Batteriefabrik soll im Großraum Stuttgart entstehen, wie Porsche mitteilte. Die Batteriezelle sei der Brennraum der Zukunft. Die geplante Fabrik soll einmal eine Kapazität von 100 Megawattstunden pro Jahr erreichen. Das seien Batteriezellen für 1000 Autos. Produktionsstart soll 2024 sein. Am Abend berichteten Medien, dass Varta als Batteriezulieferer für Porsche einsteigen wird. Varta hatte im Frühjahr erklärt, künftig Zellen für die Elektromobilität herstellen zu wollen.

Derweil bahnt sich bei der ebenfalls zum Konzern gehörenden italienischen Sportwagentochter Bugatti eine Entscheidung an. Der Konzern will über die Zukunft der Luxusmarke bis Ende Juni entscheiden. Das kündigte Konzernvorstand und Porsche-Chef Oliver Blume am Montag an.

BaFin prüft CureVac-Crash

Der Kursabsturz der CureVac-Aktie hat die Finanzaufsicht BaFin auf den Plan gerufen. Die BaFin schaue sich außergewöhnliche Kursbewegungen dahingehend an, ob möglicherweise Verdachtsmomente für Marktmissbrauch oder Marktmanipulation vorliegen, sagte ein Behördensprecher heute. Die Aktie von CureVac war nach enttäuschenden Studienergebnissen bei dem Covid-Impfstoff des Tübinger Biotechunternehmens am Donnerstag um mehr als 40 Prozent eingebrochen. Die “Rheinische Post” hatte zuvor unter Berufung auf Branchenkreise berichtet, dass die BaFin dem Verdacht nachgehe, ob jemand aus den Unternehmen CureVac oder Bayer sein Insiderwissen genutzt und rechtzeitig Aktien abgestoßen haben könnte. Bayer ist Kooperationspartner von CureVac.

Drägerwerk hebt die Prognose an

Der Medizin- und Sicherheitstechnik-Konzern Drägerwerk stellt seinen Aktionären für 2021 nach bislang guten Geschäften einen geringeren Umsatzrückgang in Aussicht als bisher befürchtet. So erwartet der SDAX-Konzern jetzt nur noch einen währungsbereinigten Rückgang der Erlöse um zwei bis sechs Prozent, wie er am Montagabend in Lübeck nach Börsenschluss mitteilte. Bisher hatte das Unternehmen mit einem Abfall von sieben bis elf Prozent gerechnet. Auch bei der Marge des Ergebnisses vor Zinsen und Steuern (Ebit-Marge) wird Drägerwerk optimistischer. Sie soll nun bei acht bis elf Prozent liegen, nachdem das Unternehmen vorher fünf bis acht Prozent erwartet hatte. Die Aktie legt auf der Handelsplattform Tradegate zu.

Bundeskartellamt nimmt auch Apple unter die Lupe

Das Bundeskartellamt nutzt seine neuen Möglichkeiten zum Vorgehen gegen große Digital-Plattformen nun auch für Ermittlungen gegen Apple . “Wir werden jetzt prüfen, ob Apple rund um das iPhone mit dem proprietären Betriebssystem iOS ein digitales Ökosystem über mehrere Märkte errichtet hat”, kündigte Kartellamts-Präsident Andreas Mundt an. Auf der Grundlage des im Januar reformierten Gesetzes gegen Wettbewerbsbeschränkungen prüft die Behörde bereits Facebook, Amazon und Google.

Plötzlicher Chefwechsel bei Fluggesellschaft Norwegian

Die Fluggesellschaft Norwegian tauscht nach turbulenten Monaten ihren Chef aus. Vorstandschef Jacob Schram wird durch den bisherigen Finanzchef Geir Karlsen ersetzt. Karlsen sollte seinen neuen Job noch im Laufe des Montags antreten. Ein Grund für den plötzlichen Wechsel wurde zunächst nicht genannt. Nach langem Kampf ums Überleben hatte die Fluggesellschaft zuletzt ihre Neuaufstellung abgeschlossen und auch die monatelange Zeit unter Gläubigerschutz hinter sich gelassen.

Frachttechnologie-Startup Forto ist jetzt ein “Einhorn”

Das Berliner Frachttechnologie-Startup Forto hat bei Investoren frisches Kapital in Höhe von 240 Millionen Dollar eingesammelt. Das fünf Jahre alte Unternehmen wird nun mit 1,2 Milliarden Dollar bewertet. Damit schafft die Firma den Sprung zum “Einhorn”. Ab einer Milliarde Dollar werden Startups im Jargon der Investmentbanker als “Einhörner” bezeichnet.

Novartis mit positiven Studiendaten zu Zolgensma

Novartis hat am Freitagabend positive Studiendaten zum Nutzen der Genersatztherapie Zolgensma beim Einsatz gegen seltenen, erblich bedingten Muskelschwund spinale Muskelatrophie (SMA) publiziert. In der laufenden Phase-3-Studie SPR1NT haben demnach alle mit Zolgensma behandelten Kinder ohne Unterstützung beim Atmen und der Nahrungsaufnahme überlebt. In der STR1VE-EU-Studie hätten zudem 82 Prozent der behandelten Kinder gute Werte in der motorischen Entwicklung gezeigt, die so bei einem normalen Verlauf der SMA-Krankheit nicht beobachtet worden seien. Mit einem Preis von rund zwei Millionen Euro ist Zolgensma das mit Abstand teuerste Medikament der Welt

Less CO2 through power plants EUEmissions trading paying off

Status: 06/17/2021 3:36 p.m.

The European emissions trading system had an impact last year. According to figures from the Federal Environment Agency, CO2 emissions in Germany’s power plants have fallen sharply. It looks different with industry.

From Martin Polansky, ARD capital studio

The German power plants emitted 15 percent less CO2 last year than in 2019. Coal power plants in particular were shut down. The energy sector and industry in this country have reduced their CO2 emissions by 33 percent since 2013. This is shown by current figures presented by the Federal Environment Agency (UBA).

According to the head of the German Emissions Trading Authority at UBA, Jürgen Landgrebe, European emissions trading has proven its worth. “The greenhouse gas emissions of the plants in Germany have fallen significantly.” Since 2018, the EU has decided to significantly strengthen its ambitions in European emissions trading. “And as a result, the markets reacted immediately,” said Landgrebe.

Significant price increases since 2018

Emissions trading is seen as a market-based instrument to reduce CO2 emissions. The system has existed since 2005. It ensures that around 1,800 power plants and industrial companies in Germany require emission certificates in order to be allowed to emit CO2.

The certificates are traded. The number of these decreases annually, which means that their price increases gradually. As a result, CO2 emissions are also becoming more and more expensive. While the certificate price was quite low for a long time, it has increased significantly since 2018 – to more than 50 euros per ton of CO2.

Gas-fired power plants and renewable energy systems have benefited from this, said the head of the emissions trading office. Last year, more than 45 percent of the gross electricity consumption in Germany was covered by renewable energies. “The aim is for us to price fossil fuels heavily so that renewable energies also become competitive more quickly,” said Landgrebe.

Weak effects in industry

Many market observers assume that emissions trading could lead to the shutdown of coal-fired power plants in this country much earlier than 2038. This end date was agreed a good two years ago in the so-called coal compromise between industry, environmental associations and trade unions. The federal government had largely adopted the compromise in the coal exit law. In industry, however, the effect of emissions trading has so far been less pronounced. Emissions have only fallen by around eight percent since 2013 – also due to the corona pandemic. In many cases there is a lack of marketable alternatives, for example for chemical plants or the steel industry. The latter is to switch from coke to hydrogen in the long term.

Help for retrofitting

The head of the German Emissions Trading Authority advocated increasing the pressure on industry. Fewer CO2 certificates should soon be issued. In addition, public aid is available for retrofitting. Landgrebe referred to the European innovation fund, which will provide approximately 20 billion euros for corresponding investments.

“The national decarbonisation fund is also providing around two billion euros to strongly promote such technologies and bring them to market readiness,” said Landgrebe.

Special taxes on industrial imports?

The steel industry and other sectors fear that European companies could suffer competitive disadvantages if the pressure to switch becomes too strong. The argument goes that climate protection does not benefit from steel coming more from India or China in the future.

In the European Union there are therefore considerations to impose special taxes on industrial imports from regions of the world with low climate standards in order to protect domestic industry. The EU Commission wants to present plans in July on how emissions trading can be used even more. On the one hand, consideration is being given to lowering the CO2 cap more quickly in order to meet the more ambitious European climate targets. On the other hand, certificate trading could be expanded to the areas of transport and buildings.

Surcharge at the gas station

In Germany, there has been a national CO2 pricing for fuel, heating oil and natural gas since the beginning of the year. However, this system is currently not based on a fixed CO2 cap, which is gradually being lowered, but on a price surcharge, for example at the petrol station – in the hope that people will use less fuel.

Similar to the issue of phasing out coal, European emissions trading could in the long run make the special national regulations superfluous in this country – if it proves to be the more efficient and market-compliant system for reducing CO2 emissions

Author丨Li Wenxian

Produced丨Sohu Finance

It has been a year since the sale of Baicao Wei, and I missed you for announcing the focus on the main business of red dates, but you have repeatedly fallen into doubts from investors.

On June 14, I really want you to receive an annual report inquiry letter from the Shenzhen Stock Exchange, and you were asked to respond to 11 questions about the sale of Holmes, performance, and the decline in the gross profit margin of jujube products.

Since the delivery was completed in June last year, I miss your net profit for two consecutive quarters. In 2020, the gross profit rate of jujube and related products is 29.34%, a year-on-year decrease of 3.46%.

One year after the release of the share repurchase plan, I really want you to significantly reduce the repurchase ratio. During the period, the second largest shareholder Hangzhou Haohong Industrial Co., Ltd. (hereinafter referred to as “Hangzhou Haohong”) reduced its shareholding nine times and cashed out about 180 million yuan in total. .

Since the announcement of the reduction of the repurchase ratio, I miss your share price plummeting for 5 consecutive trading days. As of today’s close, I miss your share price at 10.30 yuan, down 1.62%.

After selling Baicaowei, I miss your net profit for two consecutive quarters.

After selling Baicaowei, I really miss your revenue in 2020.

The annual report shows that in 2020, I miss you to achieve operating income of 3.001 billion yuan, a year-on-year decrease of 49.65%.

On February 23, 2020, I miss you an announcement that it will sell 100% of Baicaowei’s equity. The buyer is Pepsi Beverage, a subsidiary of PepsiCo. The negotiated transaction price of the two parties is US$705 million, which is approximately RMB 5 billion.

On May 14th last year, I missed the transfer of the equity you held in Holmes (that is, Baicaowei) to Pepsi Beverage. On June 2nd of the same year, I missed the announcement that you had received US$698 million from Pepsi.

According to the disclosure, from the first quarter to the fourth quarter of 2020, I miss you operating income of 1.773 billion yuan, 713 million yuan, 250 million yuan and 264 million yuan, respectively. The third and fourth quarter revenues are less than the sixth quarter of the first quarter. One part.

At the same time, in the third and fourth quarters, I miss you a loss of 18 million yuan and 83 million yuan in net profit respectively in the two quarters. After deducting non-net profits, you will lose three consecutive quarters. The second, third, and fourth quarters will lose about 114 million yuan, 17 million yuan and 19 million yuan.

The Shenzhen Stock Exchange asks you to combine the situation of comparable companies in the same industry, as well as the seasonal characteristics of the company’s business (if any), market demand changes, product price trends, cost and expense confirmation basis, and changes in amounts, and explain the quarters of the reporting period. The reasons and reasonableness of the large fluctuations in financial data, and whether there is an inter-period recognition of income or expenses.

Jujube business revenue declines year after year, gross profit margin declines 3.46%

Before selling Baicaowei, I miss your jujube business has been declining year after year.

From 2017 to 2019, the revenue of I miss you jujube products were 961 million yuan, 868 million yuan, and 735 million yuan, respectively, accounting for 23.61%, 17.54%, and 12.33% of the revenue. Revenue has fallen for two consecutive years.

In 2020, I miss your jujube revenue of approximately 666 million yuan, a year-on-year decline of 18.87%, and a gross profit margin of 3.46%.

Compared with jujube products, nuts have contributed 1.187 billion yuan in revenue, which is nearly twice that of jujube business, but they are also facing a decline in gross profit margin.

The financial report shows that in 2020, the gross profit margin of I miss you nuts products is 20.90%, a year-on-year decrease of 4.36%.

The inquiry letter requires you to combine marketing model, product positioning, market share, cost structure and other factors to explain the reasons for the decline in the gross profit rate of red dates and nuts during the reporting period, and analyze whether related factors will continue to affect the company’s production and operation.

I miss you announcing the return to the main business of jujube, and decided to terminate the contract of 4770 acres of land leased by the subsidiary Xinjiang Jujube Agriculture and Forestry Co., Ltd., and concentrate resources on the company’s own high-quality raw material base.

After the termination of the land lease agreement, you no longer own the ownership of the jujube trees, employee dormitories, warehouses and other ground attachments on the corresponding land, and the remaining land lease fees paid will no longer be returned. The total asset loss is 45.66 million yuan.

The inquiry letter requires you to estimate whether the cost of using the leased land to obtain raw materials such as red dates is significantly different from the cost of the company obtaining raw materials such as red dates through other channels. Combined with the reasons for your company’s early termination of the land lease, further explain the company’s termination of the land lease Whether it is conducive to safeguarding the interests of listed companies.

At the same time, according to the disclosure that I wanted to focus on the main business of red dates when you sold the shares of Holmes, it explained whether the company took other methods to consolidate the supply of upstream raw materials while terminating the 4770 mu land lease of the subsidiary Xinjiang Dazaoshu Agriculture and Forestry Co., Ltd. .

The repurchase plan has shrunk sharply, the second shareholder reduced their holdings and cashed out 180 million yuan

I really miss you to change the stock repurchase plan, which also caused investor complaints.

On June 3, 2021, I really want you to disclose the “Announcement on Adjusting the Share Repurchase Program” stating that the number of shares to be repurchased will be adjusted to no less than 41.2 million shares and no more than 67.2 million shares.

Compared to the most embarrassing repurchase plan in history that was thrown out in June last year, the number of shares you bought back has shrunk dramatically.

I really want you to disclose that the number of shares repurchased is no less than 113 million shares and no more than 226 million shares, accounting for no less than 21.91% and no more than 43.83% of the company’s total share capital. The repurchase price does not exceed 13 yuan per share.

As of May 10, 2021, I really want you to repurchase approximately 28.79 million shares through centralized auction trading, accounting for 5.58% of the company’s current total share capital. The highest transaction price is 13 yuan per share, and the lowest transaction price is 10.93. Yuan/share, the total turnover is about 339 million yuan.

During the period, Hangzhou Haohong, the second largest shareholder, reduced its shareholding 9 times, with a cumulative reduction of 13.84 million shares. The number of changes accounted for more than 3% of the outstanding shares. The average transaction price was 11.95 yuan to 13.79 yuan, and the cumulative cash out was about 180 million yuan.

After the announcement of the adjustment plan, I miss your stock price plummeting for 5 consecutive trading days.

The inquiry letter asks, I really want you to further explain the reason and rationality of the company’s adjustment to the repurchase plan in the past 12 months before the shareholders’ meeting reviewed and approved the share repurchase plan, and whether there is a situation of using repurchase matters to cooperate with relevant entities to reduce holdings Wait.

In terms of sectors, the electronics and automotive sectors bucked the market and rose, while the leisure services and non-ferrous metals sectors fell by more than 3%.

After the Dragon Boat Festival, the rainy season rained and wet the A shares. The high shock before the holiday was “inspiring”, and the plunge after the holiday was “sad”. On June 15, the first trading day after the Dragon Boat Festival, the performance of A shares was “unsatisfactory.” The two markets traded over one trillion yuan, and large market value stocks plummeted significantly.

What is the main logic of the A-share market opening on the first day after the holiday? From the perspective of fundamentals, valuation, liquidity, etc., what is the expected A-share market in the second half of the year? How to choose between large, medium and small market value and sectors?

“International Finance News” reporter interviewed several industry insiders. In their opinion, the current A-shares do not have the conditions for the index to rise sharply, and the hotspots collectively fell again, and the index continued to wash up and gather momentum. The upward momentum of the economy is still weak, liquidity is restricted, and equity market valuations are not low. In the second half of the year, income expectations should be lowered.

The first day after the holiday market “green fat red thin”

On June 15th, the three major A-share indexes rebounded slightly after falling in early trading, and then maintained a low and volatile trend, and the decline narrowed. As of the close, they all fell by about 1%. The Kechuang 50 Index bucked the market and opened higher and then fell back to close up.

In terms of sectors, the electronics and automotive sectors bucked the market and rose, while the leisure services and non-ferrous metals sectors fell by more than 3%. The performance of individual stocks was “green, fat, red and thin”, with 1351 individual stocks rising and 67 daily limit stocks; 2913 individual stocks falling, and 27 falling limit stocks.

In terms of popularity, the turnover of the two cities exceeded one trillion yuan, a slight decrease from the last trading day before the holiday. The net outflow of Beishang capital was 5.2 billion yuan, mainly reducing its holdings of WuXi AppTec, Zijin Mining, Ping An, etc., each of which exceeded 500 million yuan; Beishang capital also “started” Yanghe shares and BYD, and the net sales were about approximately 300 million yuan.

In the first half of the year, a total of 208.3 billion yuan of net inflows of funds from the north, including 88.8 billion yuan in Shanghai Stock Connect. Since June, the net inflow of funds from Beijing to Beijing is 1.5 billion yuan, of which Shenzhen Stock Connect has a net inflow of 1.4 billion yuan.

What is the main reason for the market decline after the holiday?

Qianming Asset Management Fund Manager Bai Yi analyzed to a reporter from the International Finance News that today’s market’s hot cyclical stocks and the concept of Hongmeng fell collectively, and the bull market trend sector securities also appeared to sell off. The deep-seated logic is that there are currently no conditions for the index to rise sharply, and the hotspots collectively fell again, so the index continues to wash up and gather momentum.

“The Shanghai Index fell below the 20th line on the first day after the Dragon Boat Festival, which exceeded most investors’ expectations.” Liu Youhua, head of research on private equity rownets, also told reporters that in terms of popularity, the turnover of the two markets still exceeded one trillion yuan. , The market is still hot, but structural opportunities are more difficult to grasp. In terms of liquidity, over-issuance of foreign currencies has led to global inflation expectations, while the continuous appreciation of the renminbi has led to continued inflows of foreign capital. This expectation will still exist in the second half of the year. From the perspective of individual stock fundamentals, the profitability of most individual stocks has improved, and the semi-annual report will be the focus of the market.

Wang Jiang, general manager of Yuanrong Investment’s stock department, said in an interview with a reporter from the International Finance News that the market tends to choose the direction of least resistance in the short term, which has a certain degree of randomness. On the macro level, the market focuses on US employment data. If employment is weak, the expected contraction of the balance sheet will be delayed, which is conducive to the stability of the valuation level. However, as time goes by, the window of desensitization of inflation data and employment data has not yet recovered is being consumed, and as the Fed’s interest rate meeting approaches, the market will inevitably be worried. “As far as the second half of the year is concerned, there are macro variables, and the current equity market valuation is hardly cheap, and it is reasonable to reduce income expectations. In terms of sectors, the optional consumption branch in the increase in penetration rate and the disturbance of raw material prices The sub-manufacturing sectors that have little real impact can be paid attention to.”

How to switch between large and small market capitalization opportunities

In the first half of the year, the Shanghai Composite Index rose more than 4%, the ChiNext Index rose more than 11%, and the Shanghai and Shenzhen 300 Index and the China Securities 1000 Index both rose more than 2%. Since June, there has been a significant gap in the index of individual stocks representing large, medium and small market capitalization. The Shanghai and Shenzhen 300 Index fell nearly 1% during the year, the Shanghai 50 Index fell more than 3%, and the CSI 1000 Index rose 2.5%.

How to choose large, medium and small market capitalization stocks in the second half of the year?

“Currently, large blue chips and Baotuan stocks are at historical highs, and the probability of shock adjustments in the second half of the year is relatively high; but small market capitalization, second-tier blue chips, and the financial sector are again in the historical underestimation range, and there is an upward trend in the second half of the year. The biggest opportunity in the second half of the year. The risk is the valuation of U.S. stocks, which severely restricts the rise of the big blue chips of A shares.” Bai Yixiang “International Finance” reporter estimated that in terms of liquidity, the central bank is expected to continue to implement moderate monetary policy, and foreign capital will continue to flow into A shares. tendency. On the whole, the index fluctuated more in the second half of the year. Focus on the upside opportunities of undervalued companies. On the sector, it is recommended to pay attention to TMT, domestic substitution, and post-epidemic sectors such as tourism, airports, ports, etc.

Lang Chengcheng, director of the research department of Furong Fund, bluntly stated to the reporter of “International Finance” that the market was mainly high and volatile last week, and structurally small and medium-sized market capitalization companies rose at the top. In fact, since May, from the rotation of large market value companies to small and medium market value companies, both types of companies have seen a certain degree of rise. The core logic is to restore the pessimistic expectations of liquidity. “As the semi-annual report and the 100th anniversary of the founding of the party approach, the round of rising prices may have reached the middle and late stages, and market volatility will increase. Small and medium-sized market value companies under the catalysis of the theme should be treated with caution.

“In the short-term, it is recommended to moderately control the investment rhythm, and be optimistic about low-value banks and some cyclical leaders; in the medium and long term, performance growth is still the core main line, and we are optimistic about the high-period cycle of electronics and electronics.” Lang Chengcheng further analyzed, economic fundamentals. Financing data reflect that the upward momentum of the economy is still weak, the scale of new social financing has fallen sharply year-on-year, and the year-on-year growth rate of the stock of social financing has also continued to decline. The South China Industrial Products Index has risen to a high level again. Last week, the US CPI rose by 5% year-on-year in May, exceeding expectations and setting the largest increase since August 2008. However, the yield of Treasury bonds has continued to decline since then. Compared with inflation, the Fed pays more attention to employment and economic recovery, focusing on the Fed’s interest rate meeting this week.

Institutional view: not overly optimistic in the second half of the year

In terms of sectors, cyclical stocks such as steel, mining, chemical, non-ferrous metals and other cyclical stocks ranked first in the year’s component range (total market value weighted average), with a rise of more than 14%; non-banking finance, defense and military industry, and household appliances all fell more than 11%.

In terms of price-to-earnings ratio PE (TTM, holistic approach), science and technology sectors such as computers, national defense and military industries, transportation, communications, electronics, and medical biology exceed 50 times, of which media, leisure services, and integrated sectors exceed 240 times. The lower valuations are steel, mining, non-banking finance, etc., less than 20 times, and banking, building decoration, and real estate sectors are less than 10 times.

How to choose sector investment in the second half of the year?

Chen Li, chief economist of Chuancai Securities and director of the research institute, predicts that in the second half of the year, sector rotation will become more frequent and structural differentiation will continue. Unlike last year’s single valuation drive and the dominant performance drive in the first half of this year, the market in the second half of the year will no longer be a competition among various industries, and more inclined to comparisons within the industry, with low internal valuations and growth rates. The fast company will become the leader, and vice versa, it will continue to fall. For example, the growth of mid-to-high-end liquor in the liquor industry is expected to have strong certainty; under the background of “carbon neutrality”, the new energy industry is expected to diverge, focusing on both the technological path and cost advantages; Pay attention to the three links.

Looking ahead to the second half of the A-share market, the strategy team of Ping An Securities predicts that the overall market will fluctuate upwards in the second half of the year, and will lay out structural opportunities for growth styles. The economy is basically facing the upward pressure of the market, and there are corresponding constraints on liquidity. However, continued favorable policies and funding levels in the second half of the year are expected to continue to increase risk appetite. Equity valuation is not overly optimistic from the perspective of equity-bond yield ratio and earnings expectations. . It is recommended to pay attention to the proliferation of new energy vehicles, new energy, semiconductors, new chemical materials, biomedicine and other industries, as well as the proliferation of investment opportunities for more companies in the high-prosperity industry chain.

Northeast Securities bluntly stated that the leading factor in the market in the second half of the year will be the topping of profits, and the overall market valuation will be difficult to increase, and low-value and high-prosperity industries will prevail. The market fluctuated in the second half of the year. From the perspective of profit calculations, the profit growth rate in the second half of the year is decreasing quarter by quarter. In terms of funding, the US Taper expectations and the decline in domestic credit entering the second half of the year led to tight macro liquidity in the second half of the year; the stock market remained neutral in the second half of the year, mainly due to the increase in the issuance of new funds at the inflow side and the slowdown in foreign capital inflows. The outflow-end IPO fundraising rose, and the lifting of the ban fell. In terms of valuation and sentiment, the advantages of small and medium-cap valuations are obvious and the position of individual stocks is still low; Sino-US relations and credit risks may still suppress risk appetite.

When visiting the ancient city of Fengzhou, you can look up at the Xiaocai Temple on Douji Mountain in the opposite Qinling Mountains. I saw many temples lined up on the entire cliff, and there are cave temples embedded in the mountain, majestic, majestic and magnificent. So we decided to visit the ancient city of Fengzhou and go to Xiaocai Temple to find out. PS. For the specific content of the ancient city of Fengzhou, you can read my last travel note:There is an “abandoned” ancient city deep in the Qinling Mountains of Shaanxi. It used to be prosperous for more than 2,200 years, but now it is only lonely. As a result, while strolling in the ancient city of Fengzhou, I chatted with the local fellow and talked about the next itinerary. The fellow told us sadly: The big Buddha in Xiaocai Temple has been demolished, and there is nothing to look at inside, so there is no need to spend money to go. At that time, I thought that maybe the fellow villagers saw it every day, and I didn’t think this thousand-year-old temple was rare. It wasn’t until we finished visiting the Xiaocai Temple that we understood why the fellow villager was so sorry… Xiaofan Temple was originally an ancient grotto temple, inlaid on the cliffs of Douji Mountain in Qinling Mountains, facing Fengzhou ancient city across the Jialing River. The ancient temple was built in the Western Han Dynasty and prospered in the Sui and Tang Dynasties. It has a history of more than 1,400 years. The fame of Xiaoba Temple is related to two celebrities. First, Zhang Guolao, one of the Eight Immortals of Taoism, once lived and practiced here in seclusion, and the Guolao Cave where Zhang Guolao cultivated immortals still remains in the temple; later in the Tang Dynasty, Tang Xuanzong used to pray here for blessings and disasters when he avoided misfortune and history. This ancient grotto temple deep in the Qinling Mountains is well-known. The thousand-year-old ancient temple with such a profound heritage has flourished for a long time, and it has continued to this day. Xiaofan Temple is only more than 10 kilometers away from the county seat of Fengxian County, and is on the side of Provincial Highway 212, the only way from Baoji to Fengxian, so it is very famous and has many tourists. When the tourism development of Feng County is booming, this is also one of the main attractions of the county. But I didn’t expect that when we came again this time, we saw a disaster-eliminating temple that was completely different from what we imagined. Before entering the scenic spot, we noticed the signs on the side of Provincial Highway 212 and the big archway in the scenic square. The names have been changed from the original “Xiaosha Temple” to “Fengzhou Ancient City” and “Ancient Fengzhou”. The introduction to the scenic spot in the square only introduces the ancient city of Fengzhou, without mentioning the Xiaocai Temple. Passing through the archway, the square is empty. The fountain sculpture of Lotus Guanyin seen in the travel notes before seems to have been demolished. Buy a ticket to enter the scenic spot, the original 50 yuan ticket is now 25 yuan. The staff at the scenic spot told us that all halls were closed due to the epidemic. Facts have proved that not only that, but the old temple of Xiaocai Temple (Xiao Temple) that could have been visited has been closed, and Guo Lao Cave can only be viewed from a distance. The area was fenced off. The only area that tourists can reach is the Yaowang Palace. To enter the scenic spot, you need to walk across a long chain bridge across the Jialing River. At the end of the bridge, there is a straight staircase leading to a magnificent hall. On the upper left side of the hall is the cave ruins where Zhang Guolao practiced and lived in seclusion. This is also one of the most filmed places in the entire scenic spot. From the ancient city of Fengzhou, we can see a straight stone staircase from a distance. On the stone staircase is a magnificent hall with magnificent grandeur. However, when I walked closer, I discovered that this stone ladder was no longer accessible, and a large area of ​​mud-rock landslides could be seen in the area on the left (pictured below). So we walked across the suspension bridge, and we walked towards the Yaowang Palace. There are lush vegetation along the way, but there are many construction wastes everywhere, and it looks like it has not been maintained for a long time. We arrived at a scenic spot called “Shenquan of Immortality”. There was originally a waterfall rushing down the stone steps from the mountain, but unfortunately it has dried up now. If there is water, it should be quite spectacular! When I walked to the “Pharmaceutical Hall”, it seemed that the momentum was quite magnificent. Although this hall was renovated in 2008, it is said that the incense has been flourishing. The fellow said that a big Buddha was originally enshrined in it, but unfortunately it has now been demolished. When we came, the gate of the Pharmacist’s Hall was closed and we could only stroll around. As a result, in the core area of ​​the Xiaocai Temple that can only be reached by tourists, there is a scene of decay and dilapidation everywhere. Garbage and waste can be found everywhere and discarded at will. We even have the feeling of an abandoned ancient temple in the mountains. Behind the Yaowang Hall, and on the highest point of Douji Mountain, is Xiaosi, the earliest ancient temple for eliminating disasters. “Xiaosi Morning Bell” is said to be one of the eight ancient scenic spots in Fengxian County. But this time, the road through Xiaosi is closed and tourists can no longer reach it. When turning back from the original path of the Medicine King Hall, we stood on the high platform of the Hall, still amazed by the picture in front of us. Surrounded by the endless Qinling Mountains, the Jialing River flows slowly through the middle. Rows of houses in the ancient city of Fengzhou extend from the banks of the Jialing River to the foot of the Qinling Mountains, looking very magnificent. It also relieved our depressed mood. In less than an hour, we have visited all the sights of Xiaocai Temple that can be visited. Speaking from the heart, Xiaocai Temple has a profound humanistic background, and it also has a unique natural landscape. But now it is like an abandoned scenic spot (although it still holds tickets), and it is full of dilapidated scenes. In the square at the entrance of the scenic spot, it seems that the “elimination temple” is no longer mentioned, only the “Fengzhou ancient city” is mentioned. I don’t know what the next step will be for this thousand-year-old temple in the depths of the Qinling Mountains? If you want to know more about less popular and fun tourist destinations, you are welcome to pay attention to Xiaoyu’s travel diary. Discover more beautiful worlds with Xiaoyu!

As Apple’s regular flagship two years ago, the advantages and disadvantages of the iPhone 11 at this stage are still obvious. Thanks to the support of the Apple A13 processor and the closed IOS system, the performance and smoothness of the iPhone 11 are still online, and the user experience is quite smooth. At the same time, the iPhone 11 is also equipped with IP68 waterproof and a built-in 3110 mAh battery. The quality control and battery life are also remarkable, but unfortunately, the iPhone 11 is only a 4G mobile phone and does not support 5G networks. This is a bit out of date in the industry. In addition, the initial storage of iPhone 11 is only 64G, which is also a bit inadequate under the current trend of increasingly large applications in the industry.

In terms of price, with the intensification of competition in the mobile phone market and the continuous launch of new products at the same price, the impact of the diversion of iPhone 11 is becoming more and more obvious. For this reason, the price has been on a downward trend. It is worth mentioning that it coincides with the recent 618 With the advent of the event, the iPhone 11 has dropped to the “clearance price” at full speed. At present, on the e-commerce platform, the 64G version of the iPhone 11 has dropped to 3799 yuan. Compared with the release price of 5499 yuan, the drop has reached a full 1,700 yuan, which can be called a freezing point , I have to say that in order to increase the sales of its own products, Apple has paid the money.

From the perspective of price alone, the price/performance ratio of the iPhone 11 after the big price cut has also been improved. Some netizens also said after understanding the big price cut of the iPhone 11: Not bad. It can be said that the iPhone 11 after the price cut has a certain appeal to some consumers. So to be honest, is the iPhone 11 still worth starting at this stage? The author believes that this issue should be viewed from multiple angles. First of all, from the Apple mobile phone camp, the iPhone 11 has a starting value. After all, at the current price, the iPhone 11 has no appearance, performance, and battery life except for the lack of 5G network elements. Outdated, if you value the IOS system more, iPhone11 is one of the options.

However, from the perspective of the entire industry, the starting value of the iPhone 11 is a bit general. You must know that there are many more cost-effective options at the same price, such as Xiaomi 11, OnePlus 8 Pro, iQOO7, etc., the comprehensive strength of these domestic Android models It is not inferior to the iPhone 11, and both support 5G networks. The price is also cheaper. In contrast, it should be a more cost-effective choice. Friends, what do you think of this? At the current price, do you think the iPhone 11 is worth starting? Welcome everyone to leave a message and exchange views with each other.

There is a vision in the development of the insurance industry. Many consumers think that China’s insurance industry is a big pit . China’s insurance industry faces consumers with completely different attitudes. One part is people who are keen to insure themselves, and the other part is people who are not interested in insurance at all.

On the whole, people who are interested in insurance products still occupy a very small proportion. In the face of insurance products, most people’s attitudes are still relatively conservative.

In addition, the fact that middle-class families fell down a little bit without the help of insurance in the face of real disasters also warns us all the time: Do not buy insurance lightly.

Buying insurance means buying insurance clauses

Insurance is a kind of protection. Its original intention was to reduce the risks people face and to provide people with some effective protection when they face risk accidents. At the beginning of the development of the insurance industry, many insurance product designs were indeed very practical.

However, with the continuous development of society and the increasing diversification of consumer demand, there are more and more types of insurance products and more detailed divisions. In particular, the design of many insurance clauses is becoming more and more complicated, which makes people confused.

In order to reduce the pressure of life and provide an effective protection for themselves in the face of major diseases or accidents, many friends like to configure insurance for themselves and their family members, especially the middle class with a higher standard of living and a certain amount of savings. From serious illness medical treatment to weddings and funerals, as long as the financial conditions permit and the protection meets their needs, they will allocate an insurance for themselves.

But after buying insurance, can you really sit back and relax? The answer may disappoint many people.

Insurance is a long-term consumption process. Many people only see that people pay insurance premiums on time, but they don’t see the difficulty of applying for claims after paying insurance premiums. Money given to insurance companies has always been easy to get in and hard to get out. The fact that applications for claims have been repeatedly rejected all warn us of the importance of carefully reading the insurance clauses.

The design of insurance clauses is the standard that really tests the level of an insurance company. Whether we buy insurance is useful or not depends on whether the design of the insurance clause is reasonable.

Many friends are fooled when buying insurance because they do not understand the design of the insurance clauses and blindly believe that this insurance must be able to provide appropriate compensation in the event of an accident or illness. But at the stage of claim settlement, I realized that my situation could not meet the conditions of claim settlement.

There are “pits” everywhere in insurance, so you need to be cautious when applying for insurance

Among the various insurance products, there are many insurance products with practical protection functions. Whether you can buy practical and useful insurance products depends mainly on whether you can recognize the terms of the insurance products.

There are people who blindly insure high-priced premiums and high-priced insurance products, but they forget whether the protection content of the insurance truly meets their actual needs. Sometimes, under the brainwashing of insurance salesmen, people always equip themselves with many insurance products that are completely unusable. When the disaster comes, many people find that the hedging effect of insurance companies is minimal.

The fact that many middle-class families equipped with complete insurance products have difficulty in claim settlement and gradually collapsed in the face of huge expenditures, which deeply warns us not to buy insurance lightly! If you really want to buy insurance, you have to read the insurance clauses before deciding.

There is a coverage for insurance, which needs to be kept in mind by all consumers. There are various restrictions on the scope of compensation for insurance products. The more restrictive clauses, the more difficult it is to meet the standards for compensation in case of later emergencies.

Therefore, everyone should rectify a misunderstanding: buying insurance is not buying the nominal coverage of this insurance, but buying the detailed terms of this insurance. Especially for some medical insurances, it is best to consult your doctors and friends around you and ask whether the insurance clauses are valid. Sometimes people’s lives are gone to meet the claims standard, we really don’t need to buy.

Rational allocation of insurance

Having said that, despite the chaos in the insurance industry, the existence of “insurance” is reasonable. When everyone configures insurance, You must seriously think about your physical and economic conditions, and use this as a basis to configure suitable insurance products.

Nowadays, the business atmosphere of the insurance industry is becoming stronger and stronger, and the work performance of insurance salesmen is directly linked to the total amount of insurance products they sell. Under the pressure of survival in the industry and the company’s business incentive mechanism, insurance salesmen are trying all kinds of ways to increase their sales.

Noncommittal, this marketing model has effectively promoted the expansion of insurance companies’ business and customer groups, but it has also sacrificed the interests of many customers. After all, once the salesperson’s purpose of promotion changes from recommending the right products to the right people to completing the task, the group that ultimately bears the costs and losses becomes the majority of consumers.

therefore, If you want to improve the effectiveness of insurance, consumers must improve their self-discrimination ability . To reimburse minor illness medical treatment, minor surgery and medical expenses, it is enough to configure a simple medical insurance.

If the possibility of suffering from a major disease is high, then everyone may wish to configure a targeted critical illness insurance. If there is a history of cancer in the family, then everyone can also configure a targeted anti-cancer insurance for themselves accordingly.

In short, for middle-class families with small savings, the more insurance is not the better, nor is the higher the insurance, the better. Targeted insurance configuration method is the correct method.

summary:

We must treat the insurance industry with a rational attitude. Since it exists in this society, it must have its rationality. If our ordinary consumers want to effectively avoid the pit of insurance, the most direct and effective way is to improve their understanding of the insurance industry.

In today’s era of competition for commercial interests, how consumers protect their legitimate rights and interests is a matter of concern. If we blindly follow the wishes of insurance salesmen to configure insurance, it is inevitable that the insured company will squeeze the wool. Your own rights and interests need to be guarded by yourself. You can buy insurance, but everyone must remember: The insurance clause in black and white is the top priority we should pay attention to. !

People in Brazil are examining the debris believed to have belonged to a European spacecraft in 2014. Photo: Getty. Sea of ​​Japan (also known as East Sea) The phenomenon of debris falling from space falling to the ground and causing damage was first recorded in 1969. That year, Japanese diplomats informed the United Nations of an unknown object from the falling space. Down and collide with Japanese cargo ships moving off Siberia (Russia). The collision caused serious injuries to 5 crew members. Shortly after, Soviet ships appeared at that time looking for debris. Japanese officials said the debris was identified by experts as part of the Soviet spacecraft. However, this information was initially kept private by Tokyo because it did not want to create conflicts with Moscow, according to the report AP . State of the Northwest Territories, Canada The danger of an object from space became apparent in 1978, when Cosmos 954, a satellite powered by the atomic energy of the Soviet Union, fell to Earth. The incident caused radioactive debris to spread throughout the Northwest Territories, Alberta, and Canada’s Saskatchewan province. After the incident, the Canadian government organized a large-scale “Morning Light Campaign” to search for tiny pieces of radioactive material falling on the arctic tundra. The cost for this campaign is nearly 14 million CAD (equivalent to 11.5 million USD). A fragment of satellite Cosmos 954. Photo: United States Department of Energy. Canada demanded that the Soviet Union compensate at the time for CAD 6 million ($ 5 million), but Moscow ended up paying only half of that amount. State of West Australia, Australia In 1979, Skylab – the first space station of the US Aerospace Agency (NASA) – crumbled while returning to Earth’s atmosphere. The incident caused many debris to fall throughout the farm town of Esperance in West Australia, Australia. The Skylab space station was photographed by the last crewman before falling apart on July 11, 1979. Photo: NASA. “It’s the best fireworks display you’ll ever see,” described Brendan Freeman, a retired farmer. ABC . The debris did not cause great damage, but for fun, the town authorities Esperance wrote a $ 400 fine letter to NASA for littering. NASA did not pay the fines, possibly out of fear of setting a negative precedent. By 2009, a DJ in the city of Barstow, California (USA) called to raise funds and bring fines to pay the town of Esperance. Lakeport, California, USA An early weekend in 1987, a retired aircraft mechanic living in a town near Mendocino National Forest, in northern California, heard gun-like noises outside the bedroom window. After searching, he discovered a scorched metal piece longer than 2 meters in the alley next to the house. Analysts at the US Air Force determined this object was most likely a piece of debris falling from a Soviet missile. This missile has previously been seen flying across the sky while being burned and dropped to Earth. “It’s interesting because things like that don’t happen around here very often,” said Maggie Pickle, the mechanic’s neighbor. AP . Tulsa, Oklahoma, USA Lottie Williams held up a piece of debris that fell on her shoulder from a US Delta II rocket in 1997. Photo: Tulsa World. One morning in 1997, Lottie Williams was walking with friends in Tulsa city park when he saw something like a comet across the sky. The object fell on Mrs. Williams’ shoulder, but the force of the impact was very light, almost insensitive. The object identified by the scientists was most likely a piece of the US Delta II rocket. Fragments are kept by Mrs. Williams as a souvenir. “I must be very lucky for the debris to be so light. It was one of the strangest things that ever happened to me, ”Mrs. Williams told NPR in the interview many years later. Eastern region of Texas and Louisiana, USA In 2003, the American space shuttle Columbia collapsed while returning to the atmosphere, killing seven astronauts on board. Where the wreckage of the space shuttle hit the ground, temporary memorials were built for the crew. Rural residents along the Texas-Louisiana border reported seeing debris from the ship fell into a water storage tank or through the roof of a dental office. Someone even tried to sell a piece of fragment on an eBay e-commerce site for $ 10,000. Finally, 84,000 pieces of debris from the ship in distress were collected after extensive searches in swamps, forests, and grasslands. These debris were used to rebuild the ship and identify the cause of the disaster. Ivory Coast In May 2020, another Chinese 5B Truong Chinh missile also crashed on Earth. The missile was initially thought to have crashed into the Pacific Ocean, but some people reported hearing ultrasonic explosions and seeing metal debris falling from the sky. This shows that some parts of the Truong Chinh 5B missile fell in the village of Mahounou, on the Ivory Coast. China’s Truong Chinh 5B missile launch in late April in Hainan province. Photo: Getty. However, there were no reports of human casualties following the incident. The discovery of tube fragments longer than 12 m also seems to help this area get more attention. Grant County, Washington State, USA The most recent cosmic waste incident happened just over a month ago, when a private aerospace company SpaceX rocket exploded over the Pacific Northwest. The explosion created a “light show,” which caused some at first to mistake it for a meteor shower, according to the report The Verge . A piece of equipment from the missile crashed on a farm in Washington state, leaving a mark more than 12 cm deep on the ground, The Verge reporting. A similar object was also discovered by fishermen off the coast of Oregon a few days later, but authorities have not confirmed whether this is debris from the SpaceX missile or not.

Bat degree bamboo, also known as the tree, is a wild tree, grown in abundance in the highlands and deltas. In the past, the people who planted bamboo were only used trees and the leaves were discarded. But in the past few years, fresh and dried bamboo leaves have become an export commodity, providing a positive income for the people. On the internet market and online sales groups, many small businesses openly buy bamboo leaves with unlimited quantity and the price is not cheap. They buy and sell to traders exporting to Taiwan for 10,000 VND / kg of fresh bamboo leaves and 40,000 VND / kg of dried bamboo leaves. Bamboo leaves are bought and exported to Taiwan Bamboo leaves are larger in size than normal bamboo leaves. They are cleaned by natural methods, do not use chemicals, so they are exported abroad to make cake wrapping materials, food packages … Banana leave In Vietnam, bananas are a popular plant, grown in rural areas. People often grow bananas for fruit or sell, while banana leaves and banana stalks are often discarded, if sold, it is also very cheap. The purchase price of a beautiful banana leaf is only 8,000-10,000 VND / kg (the price of a leaf that has left the leaf bones). Banana leaves are used to wrap traditional cakes such as banh chung, banh Tet, or spring rolls, sticky rice packages, … However, the number of banana leaves used for these things is quite modest. Recently, some units also buy beautiful banana leaves in the garden for 4,000 VND / kg for export to the US market. Banana leaves used for export must be those with 30cm wide width, unbroken leaves. And only banana leaves can be used and exported. Banana leaves are quite crunchy, so you must know how to choose the right age, pick them to dry in the sun just enough to wither so that the leaves are soft without losing the green color. Banana leaves have become an expensive commodity in Japan. In the rest, in most of the big banana growing areas in our country, when the branches are pruned, the banana leaves are harvested, farmers often have to cut the leaves to feed the cows and fish. Even if there is too much, they have to dry and burn the fields and gardens. Recently, the picture of a fresh banana leaf being sold on Amazon Japan for 2,280 yen, equivalent to nearly 500,000 VND, surprised many Vietnamese. If you buy more, the cheaper the price. Buy 3 leaves, the price is only about 760,000 VND and if you buy 5 banana leaves, the price is only 1,168,000 VND. However, this price is also extremely expensive. Lotus leaf In our country, lotus is a popular plant, grown in all regions from the North to the South. This plant not only gives beautiful flowers to tea and decorate, but lotus seeds and lotus roots are also exploited to make ingredients for attractive dishes. Dried lotus leaves can sell up to 400,000 VND / kg Notably, lotus leaf is also used to do many different things. In addition to wrapping sticky rice, wrapping rice … fresh lotus leaves, dried lotus are also used to make tea every day. In the market, 1kg of chopped fresh lotus leaves costs up to 70,000 VND, dried lotus leaves cost 110,000-200,000 VND / kg. There are even organic food stores that sell dried lotus leaves for up to 400,000 VND / kg. According to the shop owners, the reason why lotus leaves are quite expensive and are popular with women is because they have many effects in beauty, especially weight loss and treatment. Seeing the value of tea made from lotus leaves, Ngo Khanh Huy (39 years old, living TT.My An, H.Thap Muoi, Dong Thap) came up with a startup idea from his native lotus tree. According to Thanh Nien newspaper, the lotus leaf tea products of Mr. Huy have affirmed the brand, not only for domestic consumption but also to Thailand, Cambodia, China … “In the past, lotus leaves were almost empty. brings economic value, because farmers often just take flowers, mirrors and look. But for me, lotus leaf is a special ingredient to make tea with its own flavor, ”Huy said in this newspaper. In Phu Tho commune, Tam Nong district, Dong Thap province, seeing that selling lotus mirrors has low profits, many farmers have turned to growing lotus and selling fresh leaves to process lotus leaf tea, giving good income. Perilla leaves Perilla is a spice vegetable that is easy to grow, easy to buy in Vietnam, and even given away for free. If sold, perilla leaves are also very cheap, only from 1,000-2,000 VND a bunch. In addition to making seasoning leaves, perilla is also considered by many Vietnamese as a remedy for colds and flu. Perilla leaves exported to Japan cost 700 VND / leaf. However, a company in Bac Ninh grows perilla and exports to Japan for 700 VND / leaf, earning billions of VND per year. For the Japanese, perilla is an essential spice vegetable and is very important. This vegetable is used by the Japanese to reduce the fishy smell of seafood, is the most important ingredient of the umeboshi plum melon (a pickle dish very popular in Japanese cuisine) or is wrapped around sushi. In Japan, perilla leaves are not sold in bundles like in Vietnam, but sold by leaves. In addition to selling fresh leaves in supermarkets and markets, perilla leaves are dried and packed for domestic sale or abroad. Japanese online sites sell perilla vegetables with prices ranging from VND 107,000 to VND200,000 / pack. Lemon leaves Lemon leaves are very familiar to Vietnamese people, often used to sprinkle on boiled chicken as a condiment. Vietnamese people usually pay more attention to lemons than lemon leaves. Vietnamese farmers rarely consider lemon leaves as a source of income. In many places, lemon leaves are not sold or are sold at “as cheap as giving”. In the city market, lemon leaves are very cheap, only 1,000-2,000 VND / bundle. Lemon leaves sell for almost 7 USD / 1 oz on Amazon. In foreign countries, the price of lemon leaves is quite high. At the Amazon online store, lemon leaves are again for sale for about $ 7/1 oz, equivalent to 25g. Thus, 100g of lemon leaves cost about 28 USD (635,000 VND), 1kg will cost about 6.35 million VND. Lemon leaves are widely used in many Western dishes. Realizing huge profits from this ordinary leaf, from a few years ago, lemon leaves were collected by a number of companies with the quantity of tens of tons for export to the European market, earning millions of USD. Lemon leaves exported to the European market come in 2 forms, spices are packaged with galangal products, chili peppers and lemongrass. In the normal form, it only encapsulates the lime leaves into small bags and is completely frozen. Vietnamese lemon leaves are favored by the European market because they are more fragrant and richer than lemon leaves from other countries. Hanh Nguyen (Synthetic)

1. Why can the RMB regain the 6.5 mark again?

At present, after the CNY regained the 6.5 mark again, there is a certain degree of suppression at the 60-day moving average on the technical level, that is, short-term or strong shocks below 6.4982. We disassemble the fluctuations of CNY for internal and external reasons. The difference between the closing price of the day and the midpoint of the day is regarded as the part of the day trading, and the difference between the midpoint of the day and the closing price of the previous day is regarded as the external shock. The fluctuation of CNY from the past week In terms of factors, the appreciation of the onshore renminbi is mainly caused by external shocks, and considering that the recent dollar index is highly synchronized with onshore and offshore renminbi exchange rates, we believe that the breaking down of the dollar index is a direct result of the recent renminbi’s regaining the 6.5 mark. drive.

Figure 1: From the perspective of internal and external factors, the fluctuation of CNY is mainly due to the fall of the US dollar index (as of April 21)

Source: iFinD South China Research

In fact, relative to the dollar index and the rise and fall of most non-US currencies, the recent appreciation of the renminbi is actually relatively restrained. Since the U.S. dollar index peaked at 93.2860 on March 31, the U.S. dollar index has fallen back by 1.91%. At the same time, most non-U.S. currencies have appreciated against the U.S. dollar. As of April 21, the onshore RMB exchange rate has appreciated by 1.20. %, the appreciation of non-US currencies such as the euro and the yen against the US dollar was 2.17% and 2.29%, respectively. It can be seen that the recent increase in the renminbi has been relatively small. We believe that there may be two reasons for this: 1. We have observed a slight increase in the degree of tension in Sino-US relations since the beginning of April, which may have restricted the recent appreciation of the renminbi. 2. In addition, since the closing of the foreign exchange purchase window in the first quarter, the recent strong performance of the RMB exchange rate may lead to an increase in short-term foreign exchange purchase demand by importing companies, which in turn suppressed the appreciation of the RMB.

Figure 2: The appreciation and devaluation of major international currencies in April (as of April 21)

Source: iFinD South China Research

1. How to understand the continuous decline of the U.S. dollar index since the beginning of April?

   This wave of decline in the U.S. dollar index began at the end of March and early April. This point in time also corresponds to the recent peak and fall of U.S. Treasury yields, and we believe that the decline in U.S. Treasury yields is the primary reason for the continuous decline of the U.S. dollar index since early April. the reason.

   First, the nominal and real interest rates of U.S. bonds fell simultaneously, and the difference between U.S. and German bond yields fell rapidly. At the beginning of April, the U.S. Treasury yield fell from a high of 1.75% for the second time. As of April 21, the U.S. Treasury yield has fallen below 1.6%. At the same time, the actual yield based on inflation has also begun to fluctuate lower, that is, nominal. Interest rates and real interest rates have both fallen. Although inflation expectations are still fluctuating above the 70% quantile, which is similar to the level at the end of March, both nominal and real interest rates have fluctuated and fell, and the market’s response to inflation expectations is no longer as good. As anxious at the end of March. Observing the fluctuations in the yields of 10-year Treasury bonds in various countries since April, the yields of 10-year U.S. Treasuries have fallen by 15bps since April. In comparison, with the exception of the United Kingdom, major European economies such as France and Germany have fallen for 10 years. U.S. bond yields are still showing a continuing upward trend. The current US-German spread has significantly declined compared with the end of March, and is basically close to the level of early March.

   Figure 3: Since April, the difference between the US and major non-US Treasury bond yields has dropped significantly (as of April 21)

   

   Source: iFinD South China Research

   The decline in U.S. bond interest rates is mainly due to the expected reversal of global capital markets, and has nothing to do with the fundamentals of the U.S. economy. From the retail, CPI, and employment data released by the United States last week, various economic data exceeded expectations, and the tone of the U.S. economy continued to improve temporarily. Therefore, the decline in U.S. bond interest rates is only short-lived. We believe that the decline in U.S. Treasury interest rates is mainly due to the decline in market panic over the reduction of easing policies following the rise of new confirmed cases worldwide. The basic logic behind this lies in the fact that the uncertainty of the global epidemic has increased — the need for easing monetary policies to continue to stimulate the economy still remains — policy reductions and panic decline — demand for U.S. debt allocation is improving — U.S. interest rates have fallen. According to the latest 20-year U.S. Treasury auctions announced by the U.S. Treasury Department on April 21, the demand for U.S. debt allocation has indeed rebounded again since April, leading to a decline in U.S. Treasury yields.

   Table 1: The latest U.S. Treasury auction shows rising demand for U.S. debt allocation

   

   Data source: South China Research of the U.S. Department of the Treasury

   Secondly, in addition to the fall in U.S. bond yields, the improvement of the epidemic in Europe and the acceleration of vaccine progress are also reasons for the decline in the US dollar index. We know that there is a strong correlation between the gap in newly diagnosed cases in the United States and Europe and the US dollar index, and the bottom out of the gap in newly diagnosed cases in the United States and Europe and the recent rebound of the euro against the dollar also started at the end of March. Since the Eurozone implemented the epidemic lockdown measures on March 18, judging from the new confirmed cases, the new cases in Europe have been well controlled. Except for France, the new confirmed cases in Germany, Spain, Italy and other countries have dropped, and recently The distribution of vaccines in Europe has also begun to accelerate, which supported the euro and caused pressure on the dollar index.

   Figure 4: Newly diagnosed cases around the world are on the rise again, and epidemic control in Europe has improved (unit: person)

   

   Source: iFinD South China Research

   Furthermore, short-term dollar liquidity is relatively abundant under the dovish statement of the Federal Reserve. Judging from the dovish statements made by Fed Chairman Powell last week, he mentioned that he will wait until the inflation rate continues to reach 2% and the labor market fully recovers before considering raising interest rates. These two conditions are unlikely to be met by the end of 2022. Powell reiterated to allow inflation to be higher than 2% for a period of time. In addition, Powell did not mention the recent QE reduction roadmap mentioned by Fed officials, but pointed out that the time for the reduction may be much earlier than the interest rate hike. In fact, although this statement only conveys a basic concept, it has greatly eased the market’s expectations of shrinking. This statement made the market believe that the Fed will indeed remain accommodative in the short term, and that the time gap between reducing debt purchases and raising interest rates may be larger than market expectations. The current market expects that the Fed will formally discuss the reduction in July, or at the earliest in May and June, and the actual implementation of the reduction may not be until the end of the year. The U.S. Treasury Department has stated that it will halve the balance of its huge so-called Treasury General Account (TGA) by April and reduce it to 500 billion U.S. dollars by the end of June. Judging from the latest trends in the Fed’s balance sheet, the TGA account Indeed, it has fallen rapidly in the near future, which means that the financial market has injected a lot of liquidity in the short term. Therefore, the short-term U.S. dollar index has undergone a certain correction when the U.S. dollar liquidity is abundant, and the possibility of a large-scale rebound before policy expectations shifts is low.

   Figure 5: Quick release of TGA account balance of the US Department of the Treasury (unit: millions of dollars)

   

   Source: South China Research on the Federal Reserve’s official website

2. How will the RMB exchange rate go in the future?

   From the current point of view, since the US dollar index fell below 91, the downward movement seems to have slowed down, and the renminbi has moved strongly, rising above 6.49 after regaining the 6.5 mark. In the short term, before the U.S. is guided by shrinking expectations or the global capital market is expected to shift, it is expected that the US dollar index will not be able to get out of a large-scale rebound, and the renminbi will also likely follow the US dollar index in the current central two-way fluctuations. However, in the medium and long term, U.S. Treasury yields will continue to rise as the U.S. economy continues to improve. The current corrections in the U.S. dollar index and U.S. Treasury yields are only temporary. Therefore, we need to pay attention to the Fed’s tightening expectations or the medium-term renminbi. Cause a certain depreciation pressure.

   Author: Ma Yan Nanhua Futures Institute

   Investment consulting qualification certificate number Z0012651

   (Editor in charge: Chen Zhuang)

   [Disclaimer]This article only represents the views of the co-contributor, not the position of Hexun.com. Investors operate accordingly at their own risk.

Starting next year, Hyundai Motor and Kia will launch pure electric vehicles in China every year.

Hyundai and Kia fell out of TOP15 sales in the first quarter

As we all know, China, as the world’s fastest-growing economy, has become the world’s largest auto market. Here, there are the world’s largest and youngest consumer groups and the most complex and diverse car-using scenes. The so-called Chinese market wins the world, but in the past few years, due to political factors, superimposed product strength, quality reputation and other multiple reasons, Korean brands have been difficult to improve in recent years. According to the March sales statistics of the National Travel Association, no matter whether it is at the level of car companies or the models of various market segments, the sales TOP15 list can not find the names of two Korean companies and related products. In the 2020 annual report released by BAIC Group, although it did not disclose the specific revenue and gross profit of its joint venture Beijing Hyundai, the announcement revealed that Beijing Hyundai’s terminal sales volume was 502,000, which has been declining for 4 years. In contrast, Dongfeng Yueda Kia’s situation is slightly better. The brand officially announced that the sales volume in 2020 will be 249,300 vehicles, a year-on-year increase of 2.6%.

It can be said that if Hyundai and Kia do not make changes, their prospects will be even more bleak under the trend that their own brands continue to rise.

Therefore, Hyundai Kia has proposed four core strategies, which can be simplified into four aspects. First, further strengthen localized R&D and launch exclusive high-quality products and services for Chinese consumers; second, import exclusive electric vehicle products recognized by the global market into the Chinese market; third, make full use of them to start earlier Promoting the transformation and upgrading of joint venture brands to become a brand favored by Chinese consumers.

New energy products in China will increase to 21

According to Hyundai Kia’s strategic announcement this time, they will further strengthen China’s localized R&D and marketing efforts, and launch products and services that are more valuable to Chinese users. According to reports, Hyundai Kia plans to establish its first overseas advanced digital R&D center in Shanghai in the second half of this year. The R&D center will focus on the current four disruptive technology development directions-autonomous driving, interconnection technology, electrification and shared travel, and accelerate the digital transformation of Hyundai and Kia in China. At the same time, Beijing Hyundai and Dongfeng Yueda Kia will also carry out business innovation in all links including production, sales and marketing, focusing on the needs of local users.

In response to the major changes in the electrification of the global automotive industry, Hyundai and Kia will simultaneously develop all new energy models including hybrid, plug-in hybrid, pure electric and hydrogen fuel cells. In 2020, sales of Hyundai and Kia plug-in hybrid models and pure electric vehicles ranked fourth in the world. In December 2020, Hyundai·Kia created E-GMP, a global modular platform for electrification. The strategic products IONIQ 5 and Kia EV6 respectively launched by Hyundai and Kia are based on this E-GMP platform. Hyundai Motor’s IONIQ 5 received 18,000 orders in just one hour in Korea’s pre-sale, breaking the local pre-sale record of the Korean car brand. Kia’s EV6 orders reached 21,016 on the day the pre-sales officially opened in South Korea, reaching 162% of the 2021 sales target. As for the Chinese market, Hyundai Kia has made it clear that it will accelerate the pace of new electric vehicle launches.

Starting next year, Hyundai Motor and Kia will launch pure electric vehicles in China every year. IONIQ (艾尼氪) 5. EV6 will be introduced one after another, and a dedicated pure electric model for the Chinese market will be launched. By 2030, Hyundai Motor and Kia plan to increase the number of new energy products in China to 21 models, covering hybrid vehicles and hydrogen fuel cell vehicles.

E-GMP, an electrified global modular platform built by Hyundai and Kia

In particular, Hyundai and Kia have made great efforts in the R&D and application of hydrogen fuel cell technology in recent years. As the first company to mass-produce hydrogen fuel cell vehicles, the world’s first hydrogen fuel cell dedicated model NEXO was launched in 2018. In the field of commercial vehicles, the first mass-produced hydrogen fuel cell heavy truck XCIENT Fuel Cell has also achieved commercial operation in Switzerland. At the end of last year, Hyundai Motor also released the exclusive brand HTWO for hydrogen fuel cell systems. At the same time, they also introduced their hydrogen fuel cell technology to China. The group’s first overseas hydrogen fuel cell system production and sales base “HTWO Guangzhou” is expected to be officially completed in the second half of 2022, and the total investment is expected to reach 8.5 billion yuan by 2030. RMB (including factory operating expenses). This will be the first plant named after Hyundai’s hydrogen fuel cell exclusive brand “HTWO”, and it will also be China’s first large-scale hydrogen fuel cell system production dedicated plant.

At the brand level, Beijing Hyundai will continue to implement the “HSMART+” technology brand strategy and develop into an innovative brand focusing on smart experience. Through innovative technologies in the three areas of environmentally friendly travel, connected travel and free travel, it will provide consumers with a new travel experience . As for Dongfeng Yueda Kia, it will simultaneously become a fashionable and young mobile travel brand. During the Shanghai Auto Show a few days later, in addition to all Kia models equipped with new logos, Dongfeng Yueda Kia will also fully upgrade its dealer network based on new standards, and deploy high-end direct experience centers and specialty city experience stores in major cities across the country. Wait.

Southern Reporter Liang Luozhe

Lei Jun and Chen Nian

Speaking of the old age of the founder of Vancl Eslite, you have to mention Lei Jun. The Xiaomi Group founded by Lei Jun has become a Fortune 500 company in the world. According to the 2020 full-year financial report released by Xiaomi on March 24, the annual business reached 245.9 billion yuan and the net profit was 13 billion yuan. As of the close on April 10, Xiaomi’s market value was as high as 647.748 billion Hong Kong dollars.

As one of the first people to enter the IT industry, Lei Jun knew many well-known people in the industry. Among them, Lei Jun is very close to the old. In the early stage of the Internet wave in 2000, Chen Nian and Lei Jun founded Joyo. They did it for 4 years. After Amazon acquired Joyo for 75 million in 2004, the two parted ways and started their own businesses. A career.

Vancl eslite “flying into the sky”

After leaving Lei Jun, he established Vancl Eslite in 2007. In order to support the cause of his friends, Lei Jun made a friendly investment in Vancl Eslite. By 2010, Vancl Eslite’s annual sales volume was 30 million pieces, and sales reached 2 billion, making it the fourth B2C e-commerce brand following JD.com, Amazon and Dangdang.com. It is reported that in just one year, the number of employees of Vancl Eslite has exceeded 13,000.

At the 2010 conference, the situation of Vancl Eslite was very good. He set an annual sales target of 10 billion yuan, and he spoke boldly, not only to acquire the well-known luxury goods LV, but also to sell LV products to Vancl Eslite. The same price, and in 2015, let Vancl’s sales exceed 100 billion yuan.

In June 2011, the industry once reported that Vancl Eslite was about to go public in the United States, and it was even confirmed that Vancl would submit the IPO documents on November 21. However, the hope was not fulfilled. The next day, China Concept Stocks suffered a tragic drop. , Vancl had to temporarily plan to go public and wait for the next good opportunity.

Vancl Eslite has become a “crisis” of Vancl?

In order to achieve sales targets, Vancl Eslite continues to increase product categories, regardless of whether the growth rate has reached the upper limit. At the same time of rapid expansion, it also brought a crisis of 1.445 billion backlog of goods to Vancl.

Although the sales volume of Vancl Eslite hit a new high of 4 billion yuan in 2011, in the fourth quarter of the same year, Vancl Eslite fell into a “crisis” of Vancl. According to data from the Beijing Administration for Industry and Commerce, in the past three years, Vancl Eslite has a cumulative loss of 250 million yuan, compared with a loss of 700 million yuan in 2011. Only one year later, Vancl Eslite’s inventory backlog has been added to 2 billion yuan.

Not only that, Chen Nian also invested heavily in advertising and marketing, and invited many celebrities to speak for him. At the 2012 annual meeting, Chen Nian invited the Japanese actress Sora Aoi to serve as the van passenger platform, but this could not restore the hearts of users. Under the “blessing” of the star halo, it failed to bring Vancl the expected good results.

Lei Jun injects capital again, Vancl Eslite “cannot return to heaven”

Chen Nian realized his missteps in the investment strategy and chose to move the office building away from the luxury zone in 2014, and his staff was once reduced to 180. Chen Nian also said that he would “start from scratch”, starting from a white shirt. In the same year, Lei Jun led the investment and IDG and other investment institutions once again injected 100 million US dollars into Vancl Eslite.

It’s a pity that the old “white shirt strategy” did not succeed. Perhaps it was because Vancl had overdrawn its brand reputation before that, or it was because he had “slammed” Jay Chou in public, but whether it was For whatever reason, Vancl Eslite has been “powerless”.

Even Lei Jun, who has always supported Vancl, officially retired from the directorship of the affiliated company of Vancl in June 2020. It seems that he has completely separated from Vancl. Perhaps Lei Jun is really disappointed with this project. Got it. After all, Lei Jun also said that investing in Vanke is a bad thing.

At present, you can still search for news about Vancl Eslite on the Internet. On January 12, 2021, Chen Nian posted a message on Weibo about the “crash” of the Vancl Eslite app, which surprised many people. Vancl Eslite Are you still fighting hard?

As of 2021, my country’s e-commerce market is basically saturated. With the rapid development of well-known e-commerce companies such as Taobao and JD.com, Vancl Eslite has lost its place and has become unknown. However, although Vancl Eslite is still “surviving”, we don’t know what the future direction will be.

Have you ever bought anything from Vancl Eslite? What do you think of the quality of his Vancl Eslite? Welcome to leave your opinion.