Production drops slightly A lack of material slows down industry

As of: June 8th, 2021 12:32 p.m.

It sounds paradoxical: the order books are full, but production in German industry fell in April. The main reason is the supply bottlenecks for intermediate products such as semiconductors or lumber. In April, industrial production in the German economy fell by one percent compared to March, according to the Federal Ministry of Economics. That is significantly worse than experts had forecast, after a plus of 2.2 percent had been recorded in the previous month. The reason for the decline is the lack of intermediate products such as, which has been widely discussed for a long time Semiconductors or Lumber , which the companies from industry, construction and troubles the energy suppliers.

“A slight disappointment”

The sectors are affected differently by this development. Industrial emissions fell by 0.7 percent. The construction industry recorded a significant minus of 4.3 percent. Energy generation, on the other hand, increased by six percent compared to the previous month. Within the industry, the weighty area of ​​motor vehicles / motor vehicle parts recorded a significant decline of 5.6 percent in a two-month comparison, according to the press release. The comparably weighty mechanical engineering sector, on the other hand, was only slightly below the previous level at minus 0.3 percent. “In view of the high order backlog, that is a slight disappointment,” commented LBBW economist Jens-Oliver Niklasch on the current economic data. This is also how his colleague Alexander Krüger from Bankhaus Lampe sees it: “It is paradoxical: Despite the magnificent order situation, production is not getting underway. Once again it is clear that the industry is still affected by indirect pandemic pressure. Longer delivery times and material bottlenecks are actually signs a boom that is currently not at all. ”

“Material shortage has a full impact”

Thomas Gitzel, chief economist at VP Bank, is of the opinion that the shortage of materials is now having an impact: “Such a constellation is unparalleled. The industry’s order books are well filled and production is giving way.” Nils Jannsen, Head of Business for Germany at the Kiel Institute for the World Economy (IfW Kiel), also sees the delivery bottlenecks as a major problem, as the companies have not been able to fully process the high incoming orders for several months. “In April, the proportion of companies in the manufacturing sector that reported production disruptions due to a lack of preliminary work was at a record level of more than 40 percent,” said the expert. In addition to the shortage of manufactured intermediate goods, Jannsen also observes transport bottlenecks in shipping. For Andreas Scheuerle, an expert at Dekabank, another aspect is also effective: “Delivery bottlenecks certainly hampered production in April. But they alone do not explain the lower industrial production. Another part of the picture is that the infection situation in Germany is continuing tightened the easing of March again. ”

Production expectations are falling

How could it go on in the future? Apparently, there is a certain skepticism among companies: The production expectations of the industry deteriorated in May after a 30-year high had only been reached in the previous month. The corresponding ifo indicator fell by five to 27 points, as the Ifo Institute announced in its monthly survey of companies. “The picture of production expectations in the individual sectors is very different,” said Ifo expert Klaus Wohlrabe. “The auto industry and its suppliers are significantly lowering their expectations, but continue to expect production increases.” The clothing manufacturers, on the other hand, report for the first time after nine months that they want to expand their production. “Additional boost” The economist Scheuerle emphasizes that the order cushion increased again in April, because orders would develop more strongly than production: “This record high order backlog will secure the recovery in the second half of the year as soon as the bottlenecks ease again.” According to ifw specialist Jannsen, it is currently difficult to predict how long the production disruptions will continue. They would presumably only fade gradually and initially put a brake on the recovery in industry. “As soon as these impairments have been overcome, companies will work off the backlog of orders quickly and industrial production will receive an additional boost.”

Illustration. For ants and small animals, the resistance of the air helps them a lot and makes their falling velocity very slow, sometimes their acceleration is negative (due to the wind blowing up). Thus, ants are almost unharmed when falling from the roofs of high-rise buildings. All objects falling through the air have terminal velocities that depend on their size, shape, and mass. The terminal velocity of an ant (6.4 km/h, according to the physics department of the University of Illinois) would be vastly different from the terminal velocity of a human (about 200 km/h). “For rats and any small animal, there’s really no danger. You can drop a rat into a minehole nearly 1,000 meters deep and when it hits the bottom, it’ll be slightly stunned and run away. , provided that the ground is fairly soft.The air resistance acting on a moving object is proportional to its surface.If the length, width and height of an animal are divided by 10, respectively, the mass is its mass is reduced by 1000 times while the surface area is reduced by only 100. Therefore, the air resistance for small animals is usually 10 times higher than the driving force. Force isn’t usually a problem for an insect, it can be free-falling without danger, with the ability to grip.” Michael Kaspari is an ecologist at the University of Oklahoma (USA) who has studied the aerial activities of wingless ants. Research shows that when ants are facing a predator, they will jump right into the air from tall tree branches and use their legs to control the direction of flight to reach the tree trunk. The longer hind legs will help the ants glide through the air, helping them avoid falling into places they consider dangerous. With this ability, it is possible that the ant has found a way to cling somewhere before it falls to the ground, but whether or not the ant does, the ant will not die if it hits the ground. The most ancient creature that still exists to this day It is said that the earth currently has 10 million billion ants, despite the fact that they are killed a lot every day. According to the biological kingdom, it is estimated that ants account for 15-20% of the total number of animals living on land. Ants are animals belonging to the order of membranes, the class of insects. Scientist Corrie Moreau and French colleagues published a study showing that ants appeared between 140 and 170 million years ago. That means they are the most ancient creatures that still exist to this day, despite the violent fluctuations of the earth. Since then, it has been found that ants have a very high ability to survive in all weather conditions. Such survivability is endowed by nature, for they show no sign of changing accordingly. Which means it’s very likely that an ant 170 million years ago and an ant today would be no different. It is thought that the earth exists about 20,000 different species, with 4,500 families. They are present everywhere on earth. Even the extremely cold places are the poles of the earth, or the hot center of the equator. Ants come in many varieties, but the color is usually just red or black. Especially, there are new species mixed with white color. Ants are gregarious species, with a rather distinct social organization. Each ant nest has an average of about 100,000 children in a colony with a single mother (Christian ants can live up to 30 years). Here, there is something like the organization of a swarm life of bees. The vast majority of ants in the colony are worker ants (who only live for 1-2 years) – likened to the hardest workers on earth. The job of worker ants is to take care of the queen, incubate eggs, transfer eggs, raise baby ants, build burrows, find food, guard … Not many people know that all worker ants are female, but their reproductive organs are not fully developed, so they can never become a god, but are forever just “cool” feet from birth. until death. Ants are considered to be the strongest species because they can carry food 10 times heavier than themselves. But to transport that heavy amount of food, they must use collective strength in coordination. Together they carry the food they earn very easily, when thousands of them work together. Ants are everywhere, everyone can see them or be bitten by them, but few people know that they also have positive effects. The Masai people of eastern Africa have a habit of using ants as a tool to heal wounds. When a member of the tribe is injured, they will catch a few large ants in the swarm of “army ants” so that they bite on both sides of the wound, then remove the ant body, leaving only the ant head on the wound. Since then the wound does not bleed and heals quickly. And interesting things about ants Ants are animals with a fairly hygienic life. Specifically, the handling of dead animals. When one ant dies, the other ants in the colony will together carry the dead ant out of the nest, with the sole purpose of keeping it clean and avoiding infection or disease spread. The workers will take care of the carrying, under the command of an ant that is supposed to be in charge of the burial of the colony. It is also surprising to learn that ants are insects with very advanced organizational systems. Along with the Lord ant, worker ant, and burial commander ant, there are also ‘teacher ants’ Born, in order to have the necessary skills, they undergo a learning process under the guidance of “teachers”. The “teacher” ants in the nest will teach the younger ants to do the necessary work. In case the “student” learns slowly and “fails” in the test, they will be transferred to another job that requires less skill. Not only know how to find termites, but ants also know how to “livestock” to create food reserves. They feed on insects such as aphids and caterpillars to obtain the sweet substance secreted by these insects. When it’s time to harvest the sweetener from the insect swarm, the ants “milk” using their antennae. It is very interesting to know that ants bring with them the insects they nourished when they move to a new area. It’s no different than people taking livestock with them to more verdant places. People have talked about the extraordinary in the world of ants. They have no ears but perceive sound from ground vibrations, through sensitive sensors on the pins. They have the ability to exist to the point of fantasy despite the harshness of weather and climate. Therefore, ants are also one of the first creatures on earth to be sent into space by humans in an experiment to conquer the sky. Ants have poor eyesight, but they often use the earth’s magnetic field to navigate. They are considered the most intelligent insects when in the small head of ants there are more than 250,000 brain cells. As industrious animals, ants are also said to be “excellent athletes”. If an ant were about the same size as a human, they could run at an average speed of 55 km/h without ever getting tired. They are also able to lift an object 50 times its own weight with extraordinary strength.

Especially in the summer, women will not be able to “stop their mouths” with sugary drinks, fruit cakes… The more sugar in the summer, the faster the aging speed of beauty. Sugar – the culprit that causes skin to age quickly, prone to pimples, easy to catch the sun, dark and old Too much sugar makes the collagen in the skin and body work less efficiently, the skin cells harden, leading to a decrease in elasticity. Wrinkles will become more and more imprinted, making the skin rough, rough, even causing serious dermatitis. The more sugar you eat, the worse your skin condition will become. Eating a lot of sweets will cause the body to secrete male hormones, which increases the amount of oil secreted on the skin, the pores from there getting bigger and bigger, causing the blockage, causing the skin to break out, leading to scars. Continuous bruising appears on the skin. Along with the hot summer sun, the skin is more prone to oil secretion. The skin condition is getting worse and worse, making you always in a state of discomfort. So eating less sugar is something that every girl needs to apply to have smooth, white skin throughout the summer. Sugar – the cause of oily skin damage, hair loss in buns As mentioned above, eating a lot of sugar will tend to secrete male hormones, increasing the amount of oil not only in the face but also in the scalp. An oily scalp makes the hair sticky very quickly, the pores on the scalp are clogged and damaged, causing the hair to fall out in a bun. No matter how carefully you wash your hair and take care of your hair, you will still experience constant hair loss. Eat a lot of sugar: The body accumulates excess fat, within 2 days a fat One of the negative effects of eating too much sugar in the body is weight gain, the body stores more and more fat. Excess sugar will be stored as body fat. Therefore, a diet high in sugar for a long time will lead to overweight and obesity. Eating a lot of sugar can also increase ghrelin, the hormone that causes hunger. So you will always tend to eat more, mainly carbohydrate rich foods which leads to the accumulation of fat in the belly. No matter how hard you practice, no matter how fast you eat, as long as you are still hungry for sweets, your 2nd round will still be full of fat. This is the reason why the skin ages quickly, the hair loses both buns and the 2nd round of fat. Eating a lot of sugar brings a lot of negative things to the beauty of women, you need to curb it right away to immediately improve the problems that are arising with your skin, hair and physique.

This weekend, China’s Long March 5B (Truong Chinh 5B) missile will fall back to Earth. Instead of falling into the sea as originally planned, the Long March 5B was orbiting the Earth and lost control. The silence from the China National Space Administration (CNSA) coupled with the rocket’s too fast travel speed makes scientists at other space research institutions do not have enough computational data, see rockets. Where will it fall. Hard to have human casualties The Long March 5B missile is 30 meters long, weighs 22.5 tons, and when it falls to the ground the equivalent of a small plane falling and debris flying 160 km away. This is the comment of Jonathan McDowell, an astronomer at the Harvard-Smithsonian Center for Astrophysics. In 2020, a 50 meter long fragment also from a Chinese rocket crashed into the Atlantic, just 13 minutes after passing New York City with 9 million inhabitants. However, a 12-meter-long piece may have crashed in a village on Ivory Coast, according to the report The Verge , from the source of the local newspaper Afriksoir. The villagers heard a loud explosion, lightning, and noise at the same time that scientists calculated missile debris. The 12-meter-long debris that fell on the village of Mahounou on Ivory Coast in May 2020 is believed to have belonged to the Truong Chinh 5B missile. Photo: Afrik Soir. The orbits re-enter the atmosphere of rockets, which are inherently difficult to predict, because they travel at speeds of thousands of kilometers per hour. Scientists can only calculate accuracy after the rocket has returned to the atmosphere and began to fall. However, according to Mr. McDowell’s estimates, there will be no loss of life. Rockets will usually be burned most of the time when they pass through the atmosphere. Only a few parts, which are designed to be more heat resistant, can fall back to Earth. However, with a planet’s surface area of ​​up to 75% that is water, and also much of the ground uninhabited, the probability that missile debris could fall right where humans are inhabited is very low. “The worst scenario is that when a small piece falls on a person, that person is more likely to die. The probability that a lot of people get a debris fall is not high,” said Jonathan McDoWell. With a landing speed of about 160 km / h, debris falling on structures and vehicles will also leave great consequences. However, since the debris will fall in an area up to 160 km in diameter, the likelihood that they will fall into an inhabited, residential area is also very low. The Long March 5B missile contains the core module of the new space station. Photo: Getty Images. According to the Independent Over the past decade there have been about 100 satellites, and the wreckage of the missile returns to Earth every year, with a total mass of 150 tons. However, most of them do not cause serious consequences. The mass of space junk that fell in 2020 is the fourth largest block to fall back to Earth in history, after the Skylab space station in 1979, the Skylab’s rocket deck in 1975, and the Salyut-7, the Soviet space station, At 1991. Big problem with space junk This is not the first time that CNSA has had problems with objects landing on Earth from space. In 2018, the Tiangong-1 space station freely fell into the Pacific, between Australia and Chile. The Ivory Coast incident in May 2020 was also caused by another Long March 5B missile. Although there is little potential to cause material or life damage, the disposal of rockets and satellites out of use still leaves many scientists a headache. When a satellite expires, becomes unusable, it resumes its orbit. A boosters after completing a mission to put the spacecraft into orbit will also be left in the air. And when two objects in the universe collide with each other and create millions of debris, they are also left in space. Cosmic debris are surrounding the Earth. Photo: Nikkei. No one has put a ship on board and collects debris in space. All materials left by humans so far are known as cosmic trash. NASA scientist Donald Kessler believes that colliding with two large pieces of space debris can create a domino effect, causing thousands of smaller debris to continue orbiting the Earth. Mr. Kessler warns there will be a day when space junk becomes so much that we cannot launch a satellite without hitting another object. By then, we will be prisoners on our own planet, and will not blame anyone else but humans. As for the controllable missiles, the space agencies will calculate to bring them back to Point Nemo, which is considered the “graveyard” of spacecraft in the ocean. With the closest distance to the mainland of 2,250 km, the South Pacific Ocean is considered the “pole of the ocean” and is no different than a desert region in the middle of the sea.

Author/ Ren Yafei

Source / Benben Finance (ID: daxiongfan)

SF Express in 2021 is not going well at all.

Yesterday, SF Express announced its report for the first quarter of 2021. SF Express achieved revenue of 42.620 billion yuan, a year-on-year increase of 27.07%; net loss attributable to shareholders of listed companies was 989 million yuan, compared with a profit of 907 million yuan in the same period last year, a difference of 2 billion.

As early as April 8 when SF Express announced its first-quarter results forecast, the market reacted fiercely. SF Express’s stock price plummeted on the 9th. As of yesterday, SF Express’s closing price was 63.18 yuan, and its stock price has hovered at 63 yuan in the past week. From the historically highest price of 124.06 yuan to the present, in two months, the market value of SF Express has evaporated by more than 270 billion yuan.

Where did SF Express lose its money?

The official explanation is that during the Spring Festival, 1 billion was spent on subsidizing employees, transportation capacity guarantee costs, overlapping investment costs in resources, new business expansion and pre-investment, and so on.

Faced with investors’ questions, Wang Wei took the initiative to apologize, saying that the losses were mainly due to management negligence. From an analysis point of view, the epidemic suddenly led to an increase in transportation capacity guarantee costs and employee subsidies. This is a sudden and short-term impact, but the latter two are the long-term impacts caused by SF Express’s insistence on investing in the future.

Wang Wei, chairman and general manager of SF Holdings, once said, “SF is not only targeting the 400 billion traditional express delivery market, but the 12 trillion large logistics market.” “The competition that the express industry will really face in the future will not come from peers, but A high-tech company like Google”.

Therefore, Wang Wei, who has always adhered to the long-term doctrine, has spent the past three years spending lavishly on new business development.When Binfan Finance sorted out the investment and M&A trends of SF Express and its affiliated companies, it found that only There are 38 investment projects under the name of SF Holdings. The investment speed has accelerated since 2014, and slowed down in 2019 and 2020, especially in 2018, when the number of investment reached 12.

Is it true that SF Express buys and buys so lavishly?

From now on, SF Express seems to have fallen into a kind of long-term trap. The investment is too large, the return period is too long, and the new business does not seem to bring considerable growth to SF.

01 Where did SF Express lose money?

“I didn’t manage well in the first quarter, and I was responsible for it. I was negligent in management.” On April 9, Wang Wei apologized in response to investors’ doubts about the loss of SF Express.

This is also the first performance report of negative revenue growth that SF Express has handed over since its listing. In the 2020 annual report released in March this year, SF Express has just delivered outstanding results. In 2020, SF Express achieved revenue of 154 billion yuan, an increase of 37.3% year-on-year, which was much higher than the industry’s 17.3% growth rate, and its net profit attributable to its parent was as high as 7.33 billion yuan.

Regarding the performance loss in the first quarter, SF Express stated that there are five major reasons, namely:

1. Continue to increase the pre-investment of new business;

2. Since the fourth quarter of last year, temporary resource input has been increased to undertake the increase, which has put pressure on costs and increased capital expenditure input;

3. The company re-integrated the express network, express network, storage network and other resources, and there is a certain amount of resource overlap;

4. During the Spring Festival, subsidies for on-the-job personnel hit a record high, reaching 1 billion yuan;

5. The growth of the bulk order business of time-sensitive parts was lower than expected, and the gross profit of e-commerce parts was under pressure.

   These 5 reasons, except for the one-time expenditure of 1 billion yuan in employee subsidies, and the decline in SF Express’s gross profit margin due to industry competition, the rest are all As a result of SF’s cost problems, these expenditures are mainly spent on SF’s new business.

   

   SF Express’s 2020 financial report shows that as of the reporting period, SF Express invested a total of 14.155 billion yuan, accounting for about 9.2% of its revenue, nearly 1.2 billion more than last year , Including land, warehouses, sorting centers, airplanes, vehicles, information technology equipment, etc., among which sorting centers and aircraft have a relatively large investment, accounting for nearly 6 billion. In addition, investment in technology reached 4.273 billion yuan, a year-on-year increase of 16%.

   Judging from Wang Wei’s favorite aircraft, in 2009, SF Airlines had only 2 aircraft. In 2012, SF Airlines’ fleet expanded to 10 aircraft. In 2016, the scale has been expanded to 30. In 2017 and 2018, SF Airlines purchased another 10 aircraft. As of February this year, SF Airlines has bought 63 aircraft, making it the domestic cargo airline with the largest fleet.

   In addition, SF Express has also increased its investment in the construction of Ezhou Airport. In the first quarter of this year, three self-operated freighters were added. By the end of the year, the fleet size may reach 70. It is expected that Ezhou Airport will be put into operation next year.

   In simple terms, the reason for SF Express’s loss is that the increase in investment has led to pressure on costs; the explosive growth of business volume has brought about a bottleneck in production capacity; the investment in new business has not yet achieved profitability. In addition, the expansion plan of heavy assets, It is also accompanied by certain debt risks.

   And these increases in costs will hold SF Express for a long time to come. Wang Wei said that SF Express will certainly not lose any more in the second quarter, but the annual profit cannot return to the same period last year, because the battle will continue in the future and there are still many goals to be achieved in the next three years.

02 buy buy buy

If the reason for the loss is short-term investment, leading to increased costs, Wang Wei will not emphasize that the company’s annual profit cannot return to the level of the same period last year. What has SF Express bought in the past three years? how much did you spend?

Previously, Wang Wei said in an interview: “Our future will be to go into many industries, and to deepen many industries, rather than’last mile’ warehouse distribution. If this is the case, we will never deepen one industry. Using technology to upgrade this industry is the direction SF Express will take in the future.”

What SF Express has to do is to provide B2B2C integrated full-process supply chain logistics services. In February this year, SF Holdings announced that it would acquire 51.8% of Kerry Logistics at a total consideration of HK$17.56 billion. This is the latest investment in 2021.

In fact, whether it is this cooperation with Kerry Logistics or the previous cross-border exploration of e-commerce platforms, SF Express’s underlying logic has not changed, that is, to create a one-stop integrated logistics solution.

Wang Wei once publicly stated: “Today’s organizational structure and business model of the four major international express delivery giants can be used as a reference for SF Express’s future mid- and long-term development. , E-commerce distribution, etc. give another supplier’s operating mode, which may be adjusted in the near future. Therefore, we must invest resources to do a good job now.”

to this end, In recent years, SF Express has continuously made large purchases through investment and mergers and acquisitions .

Number of investment projects of SF Holdings and its affiliates from 2013 to 2020

According to the company’s data, As of March this year, there were 38 investment projects under the name of SF Holdings alone. In terms of time, SF Express did not make a single investment before 2013. The number of investments in 2014 was 3, the number of investments in 2015 was 7, and the number of investments in 2016 was 5. In 2017, the number of investments dropped to 2. At the peak, the number of investments was 12, accounting for nearly one-third of the number of investments. Since then, the investment speed has started to slow down again. There were 7 investments in 2019 and only 4 investments in 2020.

For example, in May 2017, UPS announced the establishment of a joint venture company with SF Holdings in Hong Kong; in March 2018, SF Holdings acquired Guangdong Xinbang Logistics for 1.7 billion yuan to increase its heavy cargo express business; in March 2018, SF Holdings issued an announcement, Hubei International Logistics Airport was approved, and the central budget, the Civil Aviation Development Fund, and the Hubei Provincial Financial Fund invested more than 8 billion yuan in total. In April 2018, 100 million US dollars led the financing of Flexport, a well-known American technology loan, to increase international business; In August 2018, we joined hands with Xia Hui, China Merchants and China Railway Corporation to increase the cold chain, shipping and railway business; in October 2018, it invested 5.5 billion in the acquisition of DHL’s supply chain business; in 2019, SF Express invested in Yiyoutong A+ Round of financing and so on.

The above are just some of the important key deployments of SF Express’s investment strategy in the past three years, and they are also frequently mentioned and familiar to everyone. In fact, in SF Express’s financial reports for the past three years, the long-term equity investment alone contains many other joint ventures or joint ventures’ investment arrangements.

Especially in 2018, China Yunda Airport Airport Ground Service Co., Ltd., Beijing Wulian Shuntong Technology Co., Ltd., Beijing Shunhe Tongxin Technology Co., Ltd., Zhejiang Kailux Technology Co., Ltd., Guangdong Shucheng Technology Co., Ltd., Xi’an Hua Joint ventures or joint ventures such as Han Airlines Passenger and Cargo Service Co., Ltd. and Qingdao Dakai Freight Forwarding Co., Ltd. have all received large amounts of new investment.

According to SF’s financial report, in 2018, all SF’s joint ventures will invest 12.159 billion yuan in new investment, and the new investment in joint ventures will be 402 million; in 2019, the new investment in SF joint ventures and joint ventures will be 105 million yuan and 179 million yuan respectively; 2020 This figure was 1.134 billion yuan and 378 million yuan respectively. In the past three years, SF Express has invested more than 14.4 billion in joint ventures and associates.

Classification of investment projects of SF Holdings and its affiliates from 2013 to 2020

From the perspective of industry distribution, the investment of SF Holdings basically revolves around the main business Among them, the logistics and warehousing industry has the highest number of investments, reaching 15; followed by corporate services, with 11 cases; e-commerce, with 6, ranking third. Others are the Internet of Things and artificial intelligence serving the main business, with 4 and 2 investments respectively.

Among these 38 investments, they are only publicly visible investment projects under the name of SF Holdings.

At the end of 2017, Meituan Wang Xing gave an internal speech. This speech shared his views on the supply chain and 2B business: “In the recent period, my judgment is that if the next wave of Chinese Internet wants to pick up, it will be a very The important direction is driven by innovation in the supply chain and the 2B industry, so this is the supply side.”

Wang Wei once publicly stated that SF Express pays more attention to the quality of revenue and provides high-quality services to mid-to-high-end customers than its business volume share. “SF is not only targeting the 400 billion traditional express delivery market, but the 12 trillion large logistics market. market”.

But after spending a lot of money on new business, what exactly have these investment projects brought to SF Express? From the current point of view, some are still being integrated, the effect is difficult to quantify, and the time cost is a major concern. When these businesses will create value for SF Express, there is even more uncertainty.

03 SF’s dilemma

From the perspective of long-term strategy, companies occasionally have short-term losses. It is understandable that as long as the strategic requirements can be met, there will be a return one day. However, in the process of company expansion, not all losses can be attributed to strategic losses, and blindly burning money cannot burn the future. While Pinduoduo, Meituan, JD.com and other major Internet companies have succeeded, there are also a number of companies that have been eliminated, such as Eggshell, Ofo, and Ruixing Coffee.

So, what kind of loss is considered a strategic loss of a company? Take SF Express as an example, the loss in the innovative business is a strategic loss.

SF Express’s business includes: time-sensitive express delivery, economic express delivery, express delivery, cold delivery and medicine, intra-city express delivery, international, supply chain and others. Among them, time-efficient express delivery and economic express delivery belong to SF Express’s traditional business. Among them, time-efficient express delivery mainly focuses on mid-to-high-end business items, and economic express delivery mainly focuses on low-end e-commerce items.

And SF Express, cold shipping and medicine, supply chain, etc. belong to SF’s new business.

From the perspective of the proportion of SF’s various business revenues in 2020, the proportions of timeliness, economy, express, cold transport and medicine, intra-city express, international, and supply chain are 43%, 28.6%, 12%, 4.2%, and 2 %, 3.9%, 4.6%, 1.46%. Compared with 2019, the proportion of revenue has clearly seen a decline in timeliness and an increase in the economy and express transportation. Among them, time-sensitive express delivery declined by more than 7%, and economic express delivery increased by nearly 5%.

On the whole, SF Express’s new business revenue accounted for 28.24% in 2020, which is an increase compared to 2019, but the growth is less than 3%. In other words, It still depends on the traditional business.

Chen Fei, director and deputy general manager of SF Holdings, also stated that although the proportion of economic items with a relatively low unit price in 2020 has exceeded the time-limited items, From the perspective of the overall revenue of the new business, the contribution to the company’s revenue is very limited.

In addition, unlike Tongda, which relies on e-commerce, SF Express’s core competitiveness is time-sensitive express delivery, and it has always been its cash cow. However, the main business of aging express delivery has also seen a growth ceiling in recent years. From 2017 to 2020, the revenue growth rate of SF Express Express was 1.40%, 14.30%, 5.93% and 17.41% respectively, with obvious fluctuations. In 2020, due to the impact of the epidemic, the growth rate will be relatively high.

Wang Wei once said that the company will not blindly burn money to do new business, but if short-term profit pressure can be exchanged for long-term competitiveness, it has the opportunity to build SF Express into an indispensable choice in the market and is willing to reduce its profit in the next 1-2 years. Rate expected.

But the problem is, SF Express has fallen into a long-term trap. The projects that have invested heavily in the past three years have not brought considerable growth to SF Express. There is also great uncertainty about whether it will bring deterministic growth in the next few years.

At present, the problem that SF Express has to solve is not only to ensure that the traditional time-sensitive express delivery maintains stable growth, but also to make breakthroughs in the areas of economy, express, cold, international, intra-city, and supply chain.

“I don’t believe in chance, why is there chance? I believe in chance because of ignorance. I suddenly win a big prize. If I don’t know why, I feel like chance. When all the factors are brought together, you can compare them. You will know that this is inevitable. What we have to do now is to use this good platform of SF Express to turn many uncertain and seemingly accidental things into inevitable in the future.”

Looking at it now, the accident in Wang Wei’s mouth becomes inevitable for SF and it still takes time.SF Express falls into the trap of long-termism

Located in the middle of the old growth forest of Kon Chu Rang Reserve – a primeval forest spread on the land of 4 provinces: Kon Tum, Gia Lai, Quang Ngai, Binh Dinh, from January to June is the most beautiful time of the year. to conquer the K50 waterfall. There are two possible routes to the falls: from Binh Dinh and from Gia Lai. To reach the K50 waterfall by the direction of Binh Dinh, you have to find an Toan village, An Lao district, Binh Dinh, then hire local people here to guide the path through the forest to the waterfall. If you come to K50 waterfall from Pleiku, Gia Lai, you will have to move along Highway 19 with a distance of about 80km to reach An Khe commune, then continue to Kbang junction then turn left and move about 30km to Kbang district. From Kbang district, you need to move another 60km to move to Kon Chu Rang sanctuary. Here, you will send your vehicle back and begin your trekking journey to conquer the K50 waterfall. After 14km of forest road by motorbike, you will reach Trai Bo. From Ranch, you will send your vehicle back and continue climbing about 4km through the forest, up and down many slopes, crossing streams to reach the falls. It takes about 3 hours to cross the road to get to the K50 waterfall. Although the road is difficult to go, the scene on the two sides of the road is beautiful. You will explore the diverse ecosystems in the Kon Chu Rang nature reserve. With a beautiful scenery like a fairyland on earth – the stream of water flowing from a height of 54m creates white foam creating fog and rainbow light through the reflection of rocks creating a surprisingly beautiful scene in the wilderness. The thousands that K50 waterfall bestowed .. The clear blue spring clearly sees each pebble on the bottom, the rocky outcrops standing in front of the cave entrance. According to the experience of those who have conquered the K50 waterfall, this place is for those who are healthy, like to explore the true meaning of “crossing the forest, wading streams”, so if anyone intends to conquer this beautiful waterfall, prepare good health. For the most complete journey to conquer K50 waterfall, you need to prepare comfortable clothes, climbing shoes to trekking K50 waterfall. You should bring a thin coat to wear during the night when it gets colder. In addition, you should prepare a raincoat because it is rainy and dewy; sleeping tents … You should also prepare enough food and water for the whole journey and bring insect repellent, mosquito repellent, cold medicine and indispensable flashlight, lighters. Below are a bunch of photos sent by Dr. Mai Kieu Phuong to Infonet readers after her journey to conquer the K50 waterfall.

All objects falling into the air have terminal velocities depending on their size, shape and mass. The terminal velocity of an ant (6.4 km / h, according to the physics department of the University of Illinois) will be much different from the human terminal velocity (about 200 km / h). “For rats and any small animal, there’s really nothing dangerous. You can drop a mouse into a mine nearly 1,000 meters deep and when it hits the bottom, it gets dizzy and runs away. , provided that the ground is quite soft The air resistance acting on the moving object is proportional to the surface of the object.If the length, width and height of an animal are divided by 10, then the mass. Its amount is reduced by 1000 times while the surface area is reduced by only 100 times, so the air resistance for small animals is usually 10 times higher than the actuation force. Force is usually not an issue for insects, it can fall freely without danger, with the ability to cling. ” Michael Kaspari is an ecologist at the University of Oklahoma (USA), who has studied the aerial activities of wingless ants. Research shows that when ants are confronted with a predator, they jump in the air from tall branches and use their legs to steer their flight to the tree. The longer hind legs will allow the ant to travel through the air, preventing it from falling into places they deem dangerous. With this ability, it is possible that the ant has managed to cling to something before it falls to the ground, and whether it can grip or not, the ant will not die if it lands. The most ancient creatures still exist today It is thought that the earth currently has 10 million billion ants, despite the fact that they are killed a lot every day. According to biota, it is estimated that ants make up about 15-20% of the total number of terrestrial animals. Ants are animals belonging to the membrane wing, the layer of insects. Scientist Corrie Moreau and his French colleagues published a study that found ants appeared 140 to 170 million years ago. That means they are the most ancient creatures that still exist today, despite the intense fluctuations of the earth. Since then, it has been found that ants have a very high ability to survive in all weather conditions. Such survival is bestowed on nature, since they show no signs of consistent change. Which means it is very likely that an ant 170 million years ago and an ant now are no different. It is thought that the earth exists about 20,000 different species, with 4,500 families. They are found all over the earth. Even the extremely cold places are the poles of the earth, or the hot center of the equator. Ants come in many varieties, but the colors are usually just red or black. Especially, there is a species with white color added. Ants live in herds, with a quite separate social organization. Each nest has an average of about 100,000 children in a herd with a single mother (God ants, can live up to 30 years). Here, there is something like the way bees organize the swarms of life. The great majority of baby ants in the herd are worker ants (who only live 1-2 years) – such as the hardest and most hardworking workers on earth. The job of worker ants is to take care of queens, incubate eggs, transfer eggs, raise young ants, build caves, forage, guard … Few people know that all worker ants are female, but their reproductive organs are not fully developed, so they can never become God prejudices, but are forever just “cu-li” legs from birth. to death. Ants are considered the most powerful because they can carry food 10 times heavier than them. But to transport that heavy food, they have to use collective strength in coordination. Together, they carry the food they can find easily, when thousands of them work together. Ants are everywhere, anyone can see them or be stung by them, but few people know that they also have positive effects. The Masai people of eastern Africa have a habit of using ants as tools for wound healing. When one of the tribe was injured, they would capture a few large ones from the “army ant” group so that they would bite on either side of the wound, then remove the body, leaving only the ants on the wound. From there, the wound did not bleed and healed quickly. And interesting things about ants Ants are animals with a fairly sanitary life. Specifically the handling of the dead. When one is dead, the other ants in the herd together carry the dead ants out of the nest, with the sole purpose of keeping clean, avoiding infection or disease spreading. Worker ants will take care of carrying under the command of an ant that is believed to be responsible for the funeral of the flock. It was also surprising that ants were insects with a very advanced organizational system. Along with God ants, worker ants, and the commanding ants of burial, there are also “teacher” ants. Born, to have the necessary skills, they go through a learning process under the guidance of “teachers”. The “teacher” ants in the nest will teach the younger ants to do the necessary work. In the event that “students” learn slowly and “fail” on a test, they will be transferred to another job that requires less skills. Not only know how to find termites, but also know “breeding” to create a food reserve. They know how to feed insects such as aphids and moths to get the sweetness they produce. When it is time to harvest the sweeteners from the insect swarm, the ants “milk” using their antennae. It is extremely interesting to know that ant colonies carry a swarm of insects that they cultivate when moving to a new area. It is no different than humans taking cattle along to places where the grass is lush. People have talked about extraordinary in the ant world. They do not have ears but senses sounds from ground vibrations through the sensitive sensors on their legs. They have the ability to survive miraculously despite the extreme weather and climate. That is why ants are also one of the first organisms on earth to be sent to space by humans in experiments to conquer the sky. Ants have poor eyesight, in return they often use the earth’s magnetic field to guide their way. They are considered the smartest insects when there are more than 250,000 brain cells in the small head of ants. As a hard-working animal, ants are also said to be “great athletes”. If an ant was about the size of a human, then it could run at an average running speed of 55 km / h without ever getting tired. They can once again lift an object 50 times its weight with incredible strength.