Energy and climate package Triple steps or big litter?

Status: 22.06.2021 4:35 p.m.

Shortly before the summer break, the Union and the SPD agreed on an energy and climate package. It is intended to help achieve the goals of the new Climate Protection Act. According to this, Germany should be greenhouse gas neutral by 2045.

From Martin Polansky, ARD capital studio

Shortly before the end of the legislative period, the Bundestag is due to pass the stricter climate protection law this week. And now the Union and the SPD have agreed on a package with initial measures on how the more ambitious climate targets are to be achieved in the coming years. The chairwoman of the Union in the Bundestag Environment Committee, Anja Weisgerber from the CSU, welcomes the agreement. “It is definitely a clear step forward. And with everything we also pay attention to the effects on the economy, on jobs and people’s acceptance.”

Expansion of renewable energies – with restrictions

The government groups have specifically agreed on additional new wind and solar systems in the coming year, on simplified repowering, in which old wind turbines will be replaced by new and higher ones. CSU environmental expert Weisgerber emphasizes that the effects on species protection and noise emissions should continue to be examined. But simplified approval procedures are necessary in order to expand renewable energies more quickly and thus achieve the climate targets. The agreement also provides financial benefits for communities that provide rural open spaces for solar systems. The Union and the SPD could not agree on a faster increase in the CO2 price or the distribution of CO2 costs between tenants and landlords each half. And solar compulsory for new buildings is also off the table. This was not feasible with the Union, says the deputy SPD parliamentary group leader Matthias Miersch: “We cannot enforce this measure in such a constellation. I believe that the next government must first and foremost conclude a future pact between the federal, state and local governments , which provides for a binding expansion path for renewable energy sources. ”

Opposition and associations disappointed

Criticism of the resolutions comes from the opposition. The FDP speaks of campaign activism by the Union and the SPD, the Left calls the resolutions a sham campaign. The environmental expert of the Greens, Oliver Krischer, speaks of small, triple steps: “That is not what we need for climate protection. That is politics with our hands in our pockets and not the answer to the climate crisis.”

The BUND and the Paritätische Wohlfahrtsverband also criticize the resolutions as half-hearted: they are not only unambitious, but there is also no social compensation for tenants, for example. The Bundestag is to adopt the package of measures on Thursday together with the new climate protection law. This provides for Germany to become greenhouse gas neutral in 2045 – five years earlier than previously planned. In addition, the Federal Cabinet wants to launch an eight billion euro immediate program tomorrow to promote investments in the energy transition. However, the immediate program can only be finally adopted by the upcoming Bundestag

Aviation industry Corona isn’t the only problem

Status: 06/18/2021 6:46 a.m.

Aviation has been hit particularly hard by the Corona crisis. But the industry is also under pressure when it comes to climate protection. Will the change now succeed?

From Michael Immel, ARD aviation expert

The mood in the aviation industry has brightened. Because quite a few planes are filling up again, and many people are looking forward to their summer vacation. And so bookings are going through the roof almost everywhere these days: Lufthansa, Eurowings and Condor – all are experiencing a huge summer trend.

Will the first be the last?

The “National Aviation Conference”, which today is attended by top representatives from politics, business and trade unions at Berlin-Brandenburg Airport, wants to continue this positive trend. But it won’t be easy. Even if capacity utilization is now increasing sharply: over the year as a whole, the aviation industry will probably only end up at 40 to 50 percent of the pre-crisis level. Lufthansa boss Carsten Spohr had already stated last spring: “We were the first industry to be affected by this global crisis and aviation will be one of the last to leave it.”

Remove travel restrictions

In the joint declaration on the aviation conference to be signed in Berlin today, it is therefore stated: “After around 15 months of almost total standstill, the German air transport system is suffering from massive economic losses. Therefore, further decisions and measures are necessary to revive air traffic to support.”

It is primarily about travel restrictions that are to be lifted gradually. And to simplify travel, in particular through a digital vaccination certificate for proof of vaccination, recovery and test results. This should accelerate the processes at the airports.

Successful and sustainable

In the nine-page paper that tagesschau.de is available, the main focus is on a green strategy for the German aviation industry. The revival should be based entirely on sustainability. Climate protection, eco-efficiency and sustainable competitiveness: These are the future topics for the entire industry – which has also understood that lip service alone will not be enough in the future.

“An essential instrument for climate protection in air traffic is the rapid and continuous renewal of the aircraft fleets”, it says in the Berlin declaration. New commercial aircraft would emit up to 25 percent less CO2 than the previous generation. With the collapse of air traffic, however, the renewal of the fleet has largely come to a standstill. “That is why the federal government has initiated a funding program to provide an economic incentive for the fleet renewal. We are continuing to advocate for the rapid approval of the program under state aid law during this legislative period.”

Criticism from unions

Meanwhile, in the run-up to the aviation conference, there is massive criticism from unions. According to the ver.di survey, 16 percent of the workforce have left air transport since the beginning of the pandemic. “The numbers of downsizing are frightening,” said Mira Neumaier, ver.di federal specialist group leader for aviation, who is also taking part in the aviation conference today.

“In view of the extremely thin workforce even before the start of the pandemic and the great stress situation for the employees, it is to be feared that a regulated restart in air traffic – even at 50 percent of the pre-crisis level – will no longer be affordable.”

Securing jobs

“It is not enough to save corporations,” warns Stefan Herth, president of the cockpit pilots’ union. “The short-time work allowance was an important measure in the acute crisis. What we now need is the sustainable safeguarding of jobs. In the past year and a half, politics has shown too little commitment here,” said Herth.

As a major shareholder, the federal government also has the responsibility not to lose sight of the well-being of employees when making important business decisions. “Wage dumping and social cuts at state expense must not be accepted anywhere.”

During this round of precipitation, 8 provinces will encounter heavy rainfall, and the 16th will be the most extensive period of this round of rainfall. Beginning on the 18th, another round of precipitation will continue seamlessly.

Data map: On the night of June 12, Hangzhou, Zhejiang Province, was greeted with heavy rain.Photo by Zhang Yuhuan

This wave of rainstorm range The widest period is here!

Since my country officially entered the main flood season in June, precipitation in various places has increased significantly. On the 14th, the Tuli River in Inner Mongolia and other places broke the record of the strongest rainfall in a single day in June.

In Puyang, Henan Province, after heavy rainfall, the local urban streets became a piece of land. The citizens drove like a boat, and the driver had to scoop the water in the car with a bucket. Some citizens even backstroke in the stagnant water.

The heavy rainfall process will continue. From the 15th to the 17th, a new round of heavy rainfall will occur in the eastern part of Northwest China to the middle and lower reaches of the Yangtze River. Eight provinces including Sichuan, Shaanxi, Zhejiang, Anhui and Jiangsu will be affected.

Source of national precipitation forecast map: Central Meteorological Observatory

According to the Central Meteorological Observatory, from the night of the 15th to the 17th, some areas in the eastern part of Northwest China, the Sichuan Basin, the middle and lower reaches of the Yangtze River, the western part of North China, the northeastern part of Inner Mongolia, the northwestern part of Heilongjiang, and the southwestern part of Xinjiang had heavy rains and local heavy rains. , And accompanied by strong convective weather such as short-term heavy precipitation or thunderstorms.

For example, in Sichuan, the rain began to spread in various places from the 15th, and the rain will intensify on the 16th. In some areas of 12 cities including Bazhong, Nanchong, Suining, Ziyang, Neijiang, Meishan, Leshan, there were heavy to heavy rains, and some Heavy rain.

According to analysis by Wang Tianqi, a meteorological analyst of China Weather Network, this round of precipitation will reach the widest period of precipitation on the 16th, and most of the central and eastern regions will be covered by rain.

The Sichuan Basin is the place with the strongest precipitation in this round. As the subtropical high pressure gradually extends westward, the local energy and water vapor continue to increase, and there will be obvious convection at night.

Data map: On June 10, heavy rain caused water to accumulate in Guiyang, Guizhou, and vehicles were flooded.Photo by Zheng Yu

Increased risk of flooding and geological disasters

The presence of heavy rains everywhere has also increased the risks of floods and geological disasters.

The China Meteorological Administration has cooperated with the Ministry of Water Resources and the Ministry of Natural Resources to issue meteorological warnings for orange mountain torrent disasters and meteorological risks for geological disasters.

Previously, the results of consultations with the Office of the National Disaster Reduction Commission, the Ministry of Emergency Management, the China Meteorological Administration and other departments showed that in June, the risk of flooding and geological disasters in many areas in the south is high. Regional rainstorms and floods occurred.

The Huaihe Water Resources Commission of the Ministry of Water Resources held the first flood control conference this year on the 15th. Statistics show that since the beginning of this year, the average rainfall in the Yishusi River system has been 35% higher than that in the same period in history.

The Huai Commission requires that the flood limit water levels of reservoirs and lakes and the scheduling of water conservancy projects be well monitored, and the water level changes of major lakes such as large and medium-sized reservoirs in the basin, Hongze Lake, and Luoma Lake should be closely monitored.

In order to do a good job in flood prevention, the Yellow River Bureau of Shandong has recently launched an actual combat drill to prevent floods in 2021, simulating the 20,000 cubic meters per second flood evolution process at the Huayuankou Hydrological Station.

The Yellow River Water Conservancy Commission of the Ministry of Water Resources also held a flood prevention and drought relief mobilization meeting, demanding to shape a working state of “waiting for battle at all times and being able to fight at any time”.

Data map: On June 12, the temperature in Chongqing reached a record high. The highest outdoor temperature exceeded 35°C. The picture shows a child passing by the water mist cooling area on the square.Photo by Chen Chao

Another round of precipitation seamlessly connects and the temperature in many places is approaching 40 ℃

The current round of precipitation has not yet ended, and the next round of precipitation is already waiting for a seat with a number plate.

On the 18th, another round of rainfall took over. From the 18th to 20th, there were moderate to heavy rains in north-central Jiangnan and eastern Guizhou, and heavy rains in some areas, accompanied by strong convective weather such as thunderstorms and gales.

It is worth noting that, before the next round of rainfall, there will be 35-37 ℃ high temperature weather in most of the south of the Yangtze River.

From the 16th to the 17th, the highest temperature in parts of Hunan, Jiangxi, Fujian and other places will exceed 37°C. Changsha and Nanchang may spend the hottest period of summer this year, and the air humidity is also high, and the sultry feeling is prominent, and it feels like a sauna day. Starting from the 18th, with the increase of rain, the high temperature in the above-mentioned areas will ease from west to east. (Finish)

European market China is significantly reducing investments

Status: 16.06.2021 12:53 p.m.

China invested less in the European market in 2020 than it has for ten years. Great Britain was particularly hard hit. It’s not just the corona pandemic to blame. China significantly reduced its direct investment in the European market last year. According to a joint report by the American Rhodium Group and Merics in Berlin, direct investments by the People’s Republic in the EU and Great Britain amounted to around 6.5 billion euros in 2020. Compared to the previous year, a decrease of 45 percent. That is the lowest level in ten years.

June 16, 2021

Great minus for Great Britain

In the past year, even 77 percent less Chinese direct investment flowed into Great Britain. Even so, the UK remains one of the top three destinations for China’s investments in Europe – alongside France and Germany at the top. The three most important areas for Chinese investors were infrastructure, information and communication technology and electronics. Poland, promoted by a major acquisition, was a major new recipient last year.

01/14/2021

Stricter controls on Chinese purchases

However, many Chinese purchases are now being scrutinized more closely by the EU member states than in the past. Several planned takeovers did not materialize. In Germany, for example, the Federal Ministry of Economics stopped the planned sale of the radar specialist IMST from North Rhine-Westphalia to a Chinese company with links to the military. Several EU countries, including Italy, France, Poland and Hungary, had tightened their inspection mechanisms for direct investments from third countries last year. Investments continued to decline in the current year, according to the report. The reasons are the pandemic, high hurdles for capital outflows from China and tighter controls in the EU.

10/01/2019

Sanctions dispute exacerbates tensions

In addition, the tense relations between China and the EU are likely to play a role. That’s the way it is Investment protection agreements agreed in December between the EU and the People’s Republic is currently on hold and ratification by the European Parliament seems to be moving further and further into the distance. Another point of contention remains the human rights violations in China: In March, the EU Sanctions imposed on Chinese politicians and an organization for the first time in 30 years . The EU accuses China of violating human rights by suppressing the Uyghur Muslim minority in the Xinjiang region. As a result of the European punitive measures, China also reacted shortly thereafter with sanctions against European institutions and several EU politicians . With information from Ruth Kirchner, ARD Studio Beijing, currently Berlin

Transporting anchovies from the boat to the truck at the back yard of Mui Ne, Binh Thuan province Fisherman Tran Van Dat, who specializes in anchovies, is with his boatmates moving nearly 1 ton of anchovies to shore. Inside, traders and transport vehicles are waiting. Mr. Dat said that in the past 10 days, anchovies were abundant throughout the sea of ​​Mui Ne, so not only he but also many friends’ boats had a good harvest. “This is the 3rd trip in the men’s season. The previous two trips, each trip was 7-8 quintals. In general, the fish this year caught very well, the fish was big, the traders liked it” – Mr. Dat shared his joy. Dat fisherman moves anchovies from the basket to the shore This year, the anchovy season at Phan Thiet – Binh Thuan fishing grounds and the southern sea area started to flourish from the beginning of June, with a fairly high yield. The production of anchovies so far by fishermen in Mui Ne ward and Phan Thiet city has generally increased sharply compared to previous years. Anchovies are picked up by traders as soon as they come ashore Bustling scene at the back beach of Mui Ne After the fish is purchased, the truck is transported directly to the steamer, salt and fish sauce establishment The output is high, the purchase price of anchovies this year is quite stable. In Mui Ne ward, each basket of anchovies (25 kg) is purchased by traders for around 250,000 VND. Particularly for delicious, large, fresh fish used for drying, there are places to buy nearly 300,000 VND / basket. Grade 1 anchovies are sold for 300,000 VND/basket for drying Phan Thiet waters have up to 3 popular types of anchovies, including: white striped anchovies, black striped anchovies and mouth anchovies. In which, anchovies after drying are priced at over 200,000 VND/kg. In the photo: White striped anchovy has just been caught in Mui Ne Not only being dried for export, anchovies in Binh Thuan are also the main raw materials for salting fish sauce. The profession of making fish sauce anchovies in Binh Thuan has a history of development for more than 2 centuries and the product has been present in almost all regions of the country. After being transported from the sea, anchovies are mixed in a certain ratio with grain salt and put in a jar (Khanh) to salt them. In addition to salted fish sauce, grade 1 anchovies are steamed, then dried and dried for export With the fishing season, the stable selling price helps fishermen to be excited and push to go out to sea to exploit in the next trip. Mui Ne fishermen load rocks from the shore onto a basket to transport to the boat, preparing for the next sea trip

“Investor Net” Wu Wei

On June 4, ten days before the Dragon Boat Festival in 2021, Zhejiang Wufangzhai Industrial Co., Ltd. (hereinafter referred to as “Wufangzhai”), which changed its sponsoring brokers three times in just two years, finally submitted a prospectus to the China Securities Regulatory Commission. The company officially applied for listing on the main board of the Shanghai Stock Exchange.

As a well-known zongzi product brand, Wufangzhai began accepting listing counseling as early as April 2019. The sponsoring broker at that time was GF Securities Co., Ltd. (hereinafter referred to as “GF Securities”, 000776.SZ); in January 2020, Wufangzhai replaced the sponsoring brokerage with China International Capital Corporation (hereinafter referred to as “CICC”, 601995.SH); however, the cooperation between the company and CICC has not exceeded one year. In December 2020, Wufang Zhai also replaced the securities firm with Zheshang Securities Co., Ltd. (hereinafter referred to as “Zheshang Securities”, 601878.SH).

Beginning in 1921, Wufangzhai became the first batch of “Chinese time-honored” enterprises to become famous for making zongzi. After restructuring and privatization of collective enterprises, the company is no longer just a zongzi production enterprise. After years of development, Wufangzhai also has business lines or product lines such as catering stores, moon cakes, glutinous rice balls, cakes, egg products, and other rice products.

However, like many old brands, in addition to products such as rice dumplings and finished dishes and semi-finished products, the moon cakes, glutinous rice balls, pastries, egg products, and other rice products sold in Wufangzhai are all processed and produced by OEMs. Even for the famous zongzi products, Wufangzhai is increasingly dependent on OEM production.

As a company that produces seasonal foods, in order to ensure the stability of the company’s income, Wufangzhai has established direct-operated or franchised stores in high-speed service areas, high-speed rail stations, shopping malls and other places with large numbers of people, but these stores have different profits and losses. From 2018 to 2020, the total number of the company’s directly-operated stores has declined. By entrusting processing to expand product lines and raising funds to build an e-commerce center, can “Wufangzhai” be transformed into an Internet food brand as it wishes?

The historical evolution of collective enterprise restructuring is complicated

The predecessor of Wufangzhai was the overall reorganization of the Wufangzhai Zongzi subsidiary in Jiaxing City, and was jointly established by Jiaxing Department Store, Jiaxing Meat Center, Jiaxing Brewing, Jiaxing Academy of Agricultural Sciences and 582 natural persons. From the perspective of property rights structure, Wufangzhai is a collective enterprise. At the beginning of its establishment in 1998, Wufangzhai still left 520,000 shares that were not clearly vested, and the remaining shares accounted for 4.29% of the company’s total share capital.

From 2001 to 2004, the shareholders of Wufangzhai carried out multiple equity transfers. The predecessor of the company’s controlling shareholder, Wufangzhai Group, Sino-Ocean Industrial, became the controlling party of the company through multiple transfers of the equity of Wufangzhai collective or individual shareholders. By March 2004, Sino-Ocean Industrial held 59.16% of Wufangzhai. Shares. Since then, Wufangzhai’s equity has been transferred many times. In 2010, Wufangzhai also transferred 4.29% of the remaining shares held by shareholder Zhu Zhijie, and the company paid the registered capital to incorporate the residual income into the capital reserve. The form solves the problem of remaining shares.

In 2011, Wufangzhai Group also incorporated 9 companies under the group including catering, e-commerce and rice industry into the company system of Wufangzhai through capital increase, in order to increase Wufangzhai’s business line and avoid competition in the same industry. Related questions. The following year, in 2012, Wufangzhai accepted the capital increase from 6 institutional shareholders, including Shanghai-Nanjing Expressway, Everbright Financial Holdings Venture Capital Co., Ltd. (hereinafter referred to as “Everbright Financial Holdings”), and 2 individual shareholders. The valuation is 1.3 billion yuan. In the same year, Wufangzhai Group also transferred 139 million yuan worth of equity at a valuation of 1.3 billion yuan.

Five institutional shareholders, including Everbright Financial Holdings and Ivy Investment, who invested in Wufangzhai in 2012, transferred their equity in Wufangzhai to the company’s actual controller’s related parties at an overall valuation of 1.7 billion yuan in 2016. Ocean decoration. Judging from the supplementary agreement signed between Wufangzhai Group and Ningbo Fuju, which became a shareholder in 2012, Wufangzhai introduced new shareholders in 2012 to promote the listing of the company. The trigger condition for the supplementary agreement signed by Wufangzhai Group and Ningbo Fuju is the enterprise. To be listed at the end of 2015.

Also in 2016, Wufangzhai Group acquired 1.25 million state-owned shares of Wufangzhai held by Jiaxing Meat Center at an overall valuation of 1.367 billion yuan, accounting for 2.48% of the company’s total shares. In the long history of Wufangzhai, the company’s major shareholder Wufangzhai Group has also reduced the number of natural-person shareholders of the company through the transfer of shares held by natural persons. However, as of the 2021 prospectus release date, Wufangzhai still has 165 natural person shareholders.

In the historical evolution of Wufangzhai, issues such as the transfer of state-owned shares and the handling of remaining shares may become the focus of the company’s listing review. The actual controller of the company, Li Jianping, was also involved in the case of Feng Shuixiang, the former chairman of Jiaxing Industrial Assets Investment Group Co., Ltd. and party secretary, taking bribes and illegally operating similar businesses. This has aroused further market concern about the listing of Wufangzhai.

Regarding Wufangzhai’s above question, “Investor Net” also contacted Wufangzhai’s secretary of the board for verification, but failed to get a reply from the other party.

Limited market space, unfavorable expansion of self-operated channels

Zongzi is one of the traditional Chinese delicacies with a long history, but like moon cakes, it is a typical seasonal food. After the Dragon Boat Festival, the market demand will be greatly reduced. At the same time, in the long process of development, combined with local specialties and taste preferences, Zongzi has also developed many “factions” and taste preferences. Representatives include the Jiaxing fresh meat dumplings preferred by Wufangzhai in Jiangsu and Zhejiang, and the Beijing glutinous rice dumplings eaten with sugar in the north; in addition, there are also Shanxi yellow rice dumplings, Shaanxi honey cool dumplings, and Nanning cool dumplings. Zongzi’s “sweet party” and “salty party” are also incompatible on the Internet, and they have been a hot topic of discussion during the Dragon Boat Festival for many years.

In addition to the large regional differences in taste, the price of zongzi is generally not high, so the overall scale of this market is not large. According to statistics, the scale of my country’s zongzi market was 4.916 billion yuan in 2015, and it will grow to 7.337 billion yuan in 2019, with a compound annual growth rate of 10.53%. The report cited by Wufangzhai in the prospectus estimates that by 2024, the domestic zongzi market The scale is only 10.291 billion yuan.

Unlike moon cakes, which require a mold and an oven, the rice dumplings can be made at home after simple processing of the materials, and they can be eaten after they are cooked. Also because of the convenience of making zongzi and the different tastes in different places, shopping malls and vegetable markets in many places will provide materials for making zongzi or homemade finished zongzi before the Dragon Boat Festival. Because the production of zongzi is convenient, and consumers prefer to make zongzi now, this makes the originally small zongzi market present a very fragmented status quo.

Competition is also fierce in terms of fine packaging and zongzi gift boxes. At present, there are more than a dozen brands such as Wufangzhai, Beijing Daoxiangcun, Zhenzhen Lao Lao, and Zhiweiguan. In addition to traditional rice dumplings, beverage brands such as Starbucks, Heytea, and Naixue will also make their own creative rice dumplings to further carve up this otherwise small market.

During the period from 2018 to 2020, Wufangzhai actively deployed catering or sales outlets in crowded areas such as shopping malls, high-speed service areas, and high-speed rail stations to cope with the current seasonal changes in the company’s income and further expand the scope of the company’s product radiation .

However, the expansion of Wufangzhai’s stores has not been smooth. From 2018 to 2020, the number of directly-operated stores opened by the company is lower than the number of closed direct-operated stores. Therefore, the number of directly-operated stores in Wufangzhai has increased from 203 in 2018. This has dropped to 169 in 2020. Even in 2019 without the impact of the epidemic, the number of directly-operated stores of the company is still 20 fewer than in 2018. After the Wufangzhai cooperative store opened and closed, the number of stores in 2020 has also returned to 43 in 2018. Different from the unfavorable expansion of directly-operated stores, from 2018 to 2020, Wufangzhai’s franchise stores increased from 38 to 40; dealer stores increased from 185 to 222, an increase of 20%.

It is worth mentioning that as of the end of 2020, of the 169 directly-operated stores that Wufangzhai is still operating, more than 100 have suffered losses in 2020, and a large part of the loss-making stores also have losses in 2019. Among the 42 cooperatively operated stores, more than half of the stores also suffered losses.

Zongzi sales decline, the proportion of e-commerce is low

Due to the unfavorable expansion of self-operated stores and restrictions on local tastes, as of the end of 2020, 55.82% of Wufangzhai’s income depends on the contribution of Eastern China. In the division of Wufangzhai’s sales revenue, only 18.53% comes from e-commerce retail, and this part is directly sold to end consumers. Wufangzhai did not disclose the sales target. Therefore, consumers in East China may contribute more than 55.82% of the income to Wufangzhai online and offline. In addition, compared with the 411 million zongzi sold in 2018, the total number of zongzi sold by the company in 2019 decreased by 3.131 million; affected by the epidemic, in 2020, Wufangzhai only sold 366 million zongzi.

Although the overall sales volume of Wufangzhai Zongzi has declined, and the company’s production capacity has increased, Wufangzhai’s self-produced rice dumplings accounted for a lower and lower proportion of the total number of Zongzi produced by the company during the current period. The more they rely on foundries to produce products for the company, the controllers of some foundries are still shareholders of Wufangzhai. From 2018 to 2020, the foundry produced 11.66%, 13.40% and 25.01% of zongzi for Wufangzhai.

In addition to using OEMs to produce rice dumplings, Wufangzhai has also expanded the company’s product line by producing moon cakes, glutinous rice balls, pastries, egg products and other rice products. As of the end of 2020, only Wufangzhai contributed 70.77% of the revenue, of which 17.82% of the revenue was provided by the moon cake series, egg products, pastries and other products produced by the foundry.

Among the five projects that Wufangzhai plans to raise 1.056 billion yuan to build, only less than 50% of the funds will be used for the construction and upgrading of production lines, and the other 465 million yuan will be used for the construction of digital industrial smart parks (ie, storage and e-commerce centers). ) And R&D center. The digital industry smart park construction project, Wufangzhai aims to enhance the company’s warehousing and logistics capabilities, and at the same time, through the construction of an e-commerce center, further strengthen the company’s e-commerce business development and increase e-commerce business sales revenue.

It is worth mentioning that of Wufangzhai’s 1.056 billion yuan fundraising, 90 million yuan is intended to be used to supplement working capital. However, from June 2018 to March 2021, Wufangzhai has paid dividends 4 times, with a total dividend amount of up to 253 million yuan. This also makes the outside world have certain doubts about the necessity of fundraising.

In response to the above questions, “Investor Net” also tried to ask Wufangzhai’s Secretary of the Board for verification, but failed to get a reply. (Produced by Thinking Finance)■

At noon on June 17, a serious car accident occurred on Hanoi Highway, the section through Tan Phu Ward, Thu Duc City (HCMC) between a container truck and a Range Rover. At the scene, the Range Rover car was crushed body, mirror, wheel, shell … and many other parts were broken. According to witnesses, a Range Rover car with a license plate of Ho Chi Minh City was moving in the direction of the Saigon Bridge to Dong Nai. When about 100 meters from the overpass of Station 2, this car collided with a container truck carrying the Binh Duong control plate running in the same direction. The Range Rover car was dented, fortunately the driver was not injured. The container truck pressed the Range Rover, causing it to break many parts, completely deforming the body due to the high concrete ledge on the side of the lane. Fortunately, the driver of the car was not injured. Range Rover cars are luxury cars, with a market value of about 3-4 billion VND each. Immediately after, the Rach Chiec Traffic Police Team and Thu Duc City authorities came to handle the scene and investigate the cause of the incident. Crashed a parked car, a young man riding a motorbike died The incident happened at about 8:15 am at Km 64+985 National Highway 18, the section through Dong Trieu Town, Quang Ninh Province. The victim is Mr. Pham Phu N (38 years old, residing in Hai Phong city) driving a motorbike BKS16K6-828x in the direction of Dong Trieu – Hanoi, because he could not control the speed and crashed into another vehicle parked on the side. the road in the same direction. As a result, the impact was too strong, causing Mr. N to die, both vehicles were damaged. As soon as the incident happened, Traffic Police Team No. 1, Traffic Police Department of Quang Ninh Provincial Police was promptly present at the scene to coordinate with Dong Trieu Town Police to ensure traffic order; organize the handover of the victim’s body to the family. The initial cause of the accident was determined to be because Mr. N was riding a motorbike fast, did not control the steering wheel, and caused the accident himself. Currently, the case is being investigated and clarified by the Dong Trieu Town Police. The driver who tested positive for drugs forced the traffic police car to run away 30km On June 17, information from the Traffic Police Department said that the Traffic Police Department, Binh Duong Provincial Police had just handled a driver who used meth and drove against the traffic police while working. mission. Specifically, at about 5:45 pm on June 16, the Traffic Police Team of the Binh Duong Provincial Police Department, led by Major Luu Van Vi, was on duty to regulate traffic and handle violations of traffic order and safety. At the intersection of Road 22/12 intersecting National Highway 13 in Thuan Giao ward, Thuan An city, a passenger car brand INNOVA, BKS 60LD-028.91 was found violating the error “Not obeying the orders and instructions of the sea. signal.” The traffic police team gave the order to stop the car to check and control, but the driver did not obey the signal but increased the gas and ran towards the intersection of 5 An Phu. Seeing doubts, Comrade Tran Trung Kien drove a special motorcycle carrying comrade Hoang Anh Van and comrade Nguyen Quyet Thang drove other special motorcycles to follow. When coming to the road near the intersection of 5 An Phu, comrade Hoang Anh Van continued to give the order to stop the vehicle, the driver did not comply and even forced the special motor vehicle driven by comrade Tran Trung Kien. Then the car turned around and ran in the opposite direction of the intersection on 22/12. The subject continued to run away through the stop of the Traffic Police Team, hit the motorbike of the traffic police force, causing comrade Nguyen Quyet Thang to injure his right leg and severely damaged the motorcycle. Subject was restrained at the scene. When running to the railway overpass on the My Phuoc Tan Van line (in Dong Tan neighborhood, Tan Dong Hiep ward, Di An city), the traffic police team stopped the vehicle after chasing about 30km. The traffic police team coordinated with the Tan Dong Hiep ward police station to bring people and vehicles to the ward police headquarters. At the police station, the driver’s name was identified as Tran Van Thuy (SN 1990, residing in Tho Minh commune, Tho Xuan district, Thanh Hoa province), the accompanying person was Vu Van Tuan (SN 1992, residing in Dinh Khai, Yen Dinh, Thanh Hoa). Conducted a quick test, the driver tested positive for meth and had a previous conviction for drug trafficking and use. The traffic police team made a record for the driver with errors of not obeying the signals and instructions of the signboard; did not obey the orders of the traffic controller and handed over the people and vehicles to the Binh Duong Provincial Police Department for further handling in accordance with the law.

Regarding Jing Boran’s skill in dressing, Sister SO thinks it’s quite brilliant. In her performance, she is very spiritual. Jing Bao has won a large number of fans who love fashion. The sunny and handsome appearance is even more capable. Control a variety of styles-even if it is the white vest of the same style as Li Ronghao, he can play with his own figure and match.

On social networks, Jing Boran often exposes his interactions with his friends, and there are not a few moments when he goes shopping together and partying together. Such a close relationship is really enviable, so when he gets along with his friends, will he be afraid? What about hitting shirts with friends? And in the dressing, what are the dressing rules he has been following? This time, Sohu Fashion interviewed Jing Boran, and let “the noble son” tell us about his experience of wearing the Heart Sutra and supporting the film restoration career with the watch brand Jaeger-LeCoultre.

Sohu Fashion: Do you often go shopping with friends to pick and buy clothes? Do you mind if you run into shirt and watch collisions with them?

Jing Boran: There have been cases of buying clothes together, but not many. I don’t mind hitting a shirt with my friends, and I will even enjoy it. I can wear the same clothes or the same shoes as my good friends. Because there have been times when we hit shirts like this. Brother Hao (Li Ronghao) and I have many shoes of the same style. However, it should not be possible to hit the watch, because everyone has their own brand endorsement (laugh).

Sohu Fashion: What is an indispensable tool for your daily collocation? Is the usual dressing match based on your own feelings, or what “strategies” will you learn from and refer to?

Jing Boran: It should be a white T-shirt, especially in summer, white T is the best fashion partner. The reason why I chose white T is because I don’t want to match it in many cases. A white T can be paired with jeans or trousers, and a pair of sunglasses will be very stylish.

If you match clothes, you will still pay attention to some clothes from each season and each brand every year, because in fact, you know your style best. What you wear has actually become a very natural style and a channel.

More often it depends on your mood. For example, if you are in a good mood today, just squeeze a little bit. If you feel lazy, use the simplest method. Especially for boys, I think it’s okay.

Sohu Fashion: Jaeger-LeCoultre’s support for the restoration of classic films has been going on for many years. What do you think of this charity action?

Jing Boran: As a filmmaker, Jaeger-LeCoultre repairing old movies must be very happy. This is also a very important part of the Jaeger-LeCoultre brand to me. Because it is true that Jaeger-LeCoultre is constantly repairing it every year, and every year’s film festival dinner will also update some news about repairing movies, and I will learn a lot, and I can also understand many old movies that I have not paid attention to before.

In fact, old movies are also very important when it comes to speaking. For example, when I am my current age, I will talk to some children about previous movies. I found that many old movies have not been watched. For example, I once asked a little sister born after 00 had seen the Titanic? She said she hadn’t watched it, but I think a movie like this is actually very worth seeing. Especially old movies are very important to us, because in your field of work, it is difficult for you to defend the future without experiencing some beautiful words, so I think this kind of restoration is a very important part.

Sohu Fashion: Which classic movie do you most look forward to being restored?

Jing Boran: Everything I like has been restored. If I remember correctly, my favorite movie, the Sea Pianist the year before, has also been restored.

Sohu Fashion: If you ask you to engrave a mark on your Reverso watch, what kind of pattern and text would you choose?

Jing Boran: I actually collaborated with Reverso last year on a commemorative logo engraved by myself, with a word of love engraved on it. I also bought a few pieces to give to more important people around me.

The choice of imprinting is actually different from person to person. For example, you can imprint an important person, or an important moment, and imprint all kinds of precious rituals or moments of memory.

Direct activity

Jaeger-LeCoultre, the Swiss Haute Horlogerie, has joined hands with the 24th Shanghai International Film Festival to continue the eleventh anniversary of the magnificent chapter. That night, Jaeger-LeCoultre ambassador Ni Ni and many other stars wore Jaeger-LeCoultre watches to shine on the red carpet at the opening ceremony, reappearing the legend of starlight.

Jaeger-LeCoultre ambassador Ni Ni wearing Jaeger-LeCoultre Reverso One Precious Flowers

Yuan Wenkang wearing Jaeger-LeCoultre Reverso Tribute Calendar

Deng Jiajia wears Jaeger-LeCoultre Reverso One double-sided jewelry watch

Wei Chen wears Jaeger-LeCoultre Reverso Tribute series double-sided dual time zone small seconds watch

Li Yunrui wearing Jaeger-LeCoultre green Reverso Tribute small seconds watch

Sun Yizhou wearing Jaeger-LeCoultre Reverso Classic flip series double-sided dual time zone small seconds watch

Zhang Lanxin wears Jaeger-LeCoultre Rendez-Vous dating series watch

Wang Jia wears Jaeger-LeCoultre Master Control Chronograph Calendar

Li Yuan wears Jaeger-LeCoultre Reverso Duetto Medium rose gold watch

Bao Bell wears Jaeger-LeCoultre Reverso Tribute Duoface Fagliano flip series double-sided dual time zone watch

After the red carpet session of the opening ceremony of the 24th Shanghai International Film Festival, Jaeger-LeCoultre invited guests to spend a dazzling night together. The scene was designed with Art Deco style as inspiration, making it feel like being in the thirties of the last century. In the movie set of the epoch, indulge in the charming charm of light and shadow. Jaeger-LeCoultre ambassador Ni Ni and Jaeger-LeCoultre ambassador Jing Boran paid tribute to Chinese-language films through online live broadcast and talked about the important value of film protection.

Jaeger-LeCoultre and the 24th Shanghai International Film Festival held an opening special event

Jaeger-LeCoultre ambassador Jing Boran wears the 90th anniversary of the Reverso Tribute Nonantième

Light and shadow flow, Fanghua reappears

By cooperating with the Shanghai International Film Festival, Jaeger-LeCoultre has ushered in the tenth year of the restoration project of Chinese classic films, and has been tirelessly guarding the artistic heritage of Chinese films. At present, 14 films of different eras and genres have been restored through this project, and many of them have profoundly influenced the Chinese film industry in the past 80 years. Recently restored classic films include “Outside the Window” directed by Song Cunshou (1973), “Painting Soul” directed by Huang Shuqin (1994), “Flower on the Sea” directed by Hou Xiaoxian (1998) and “Blessing” directed by Sang Hu (1956) year).

The next film work to be restored is “Early Spring in February” (1963) by the third-generation famous director Xie Tieli. This film is adapted from the novella of the famous writer Rou Shi in the 1920s and starred by well-known movie stars such as Sun Daolin, Xie Fang, Shangguan Yunzhu, Gao Bo, and Han Yan. “Early Spring February” was a great success at the beginning of its release, and won both the Top Ten Film Award and the Top Ten Director Award at the China Film Century Awards in 1995.

“Early Spring February” movie poster

During the 24th Shanghai International Film Festival, Jaeger-LeCoultre will unveil the Jaeger-LeCoultre Art Deco Café (Art Deco Café) at the Shanghai K11 Art Shopping Center, bringing guests a rich experience. Coinciding with the 90th anniversary of the birth of Jaeger-LeCoultre Reverso, Jaeger-LeCoultre set up a movie theater in the Art Deco Café to pay tribute to the legendary model of Art Deco design-the Reverso Reverso series.

Jaeger-LeCoultre Art Deco Café

Jaeger-LeCoultre and film art inherit many of the same values ​​and are able to contribute to this creative field of art. Jaeger-LeCoultre is very proud of it.

Vinaconex is the unit that won the most construction and installation packages in the East North-South Expressway Construction Project. On the afternoon of June 15, the Project Management Board 2 (Ministry of Transport) and the joint venture between Mien Trung Construction Group Joint Stock Company – Vietnam Construction and Import-Export Corporation (Vinaconex) signed a contract for the package. XL3 contractor: Construction and surveying, construction drawing design for section Km364+410.75 – Km380+000, Construction investment component project of Highway 45 – Nghi Son section of the project to build some road sections expressway on the East North-South route in the period 2017-2020. Accordingly, the contract for Package XL3 has a winning price of VND 1,144.4 billion, which is a mixed type of contract, in which the survey is performed at a fixed unit price; construction drawing design is implemented in a package; construction and installation shall be carried out at the adjusted unit price. Contract Package XL3 has a contract execution time of 720 days, funded by the state budget. The construction investment project of the National Highway 45 – Nghi Son section is one of 11 component projects of the project to build a number of expressway sections on the East North-South route in the period 2017-2020. This is a project. converted from PPP investment to public investment. This project has a length of 43.28 km, passing through the territory of Nong Cong district and Nghi Son town (Thanh Hoa), investment is phased according to the scale of 4 lanes, width of road bed 17m, design speed 80 km/h. The total investment of the project is VND 5,534.4 billion, of which the cost of construction and equipment is VND 3,193 billion, construction time is 2 years, completion in 2023. The project is divided into 3 construction and installation bidding packages, 3 supervision consultancy packages. Currently, PMU2 is asking the consortium of Mien Trung Construction Group – Vinaconex to urgently complete the preparation work to be able to start the bidding package at the end of June 2021. Currently, Vinaconex is the contractor winning the most packages in the Project to build some expressways on the East North-South route in the period 2017-2020. If including the XL3 package, Vinaconex has directly participated or participated in the project. in the form of a consortium of 4 construction and installation bidding packages with a total value of about VND 10,000 billion.

Especially, in the first quarter of this year, Vietnam’s mango exports earned 125.2 million USD, up 30.6% over the same period in 2020. However, these days, the price of mangoes at the market has dropped sharply. For example: An Giang low-seeded mangoes are reduced to 9,000-15,000 VND/kg depending on the type, many places sell for 15,000 VND/kg, Vip Taiwanese mangoes are only 7,000 VND/kg, Australian mangoes are advertised. As for export goods, the price has also decreased to 15,000 VND/kg,… Not only that, mangoes are also landing in the markets in extremely large quantities. So, on the “online market” instead of selling by weight as before, mangoes are now sold in sets of several pounds or sold in boxes. Mangoes are being sold on the “web market” for as cheap as vegetables Wholesalers said that currently Vietnamese mangoes are as cheap as vegetables, retail by weight, shipping is more expensive than mangoes. So, they switched to selling in sets of a few pounds or in boxes for convenience. Ordering a whole box of 15kg Taiwanese mangoes for only 95,000 VND, Ms. Doan Thi Thanh Hai from Nguyen Cong Hoan (Ba Dinh, Hanoi), said: “A box for only 95,000 VND, the price is only about 6,700 VND/ kg”. According to Ms. Hai, in the past, she often had to buy Taiwanese mangoes with flat seeds at the price of 35,000-45,000 VND/kg depending on the time. 4 days ago, she also ordered Australian mango with large fruit, red skin, ripe yellow inside, sweet and delicious, priced at only 15,000 VND/kg. “In previous years, Vietnamese mangoes were usually more expensive,. And now the opposite. At the market, Chinese mini mangoes cost up to 25,000-30,000 VND/kg, while Vietnamese mangoes are as cheap as vegetables,” she commented. Therefore, on this occasion, Ms. Hai did not buy foreign fruits anymore, but switched to buying Vietnamese mangoes to support farmers to consume products. The retail price of mangoes at the market mostly fell to less than 10,000 VND/kg (photo: BH) On the “online market”, Vietnamese mangoes are also crowded with customers because the price is so cheap. Most women choose to buy in boxes of 9-15 kg/barrel because the price is cheaper than buying in sets, 3-5 kg/set, depending on the type. Talk to PV. VietNamNet, Ms. Nguyen Thi Thu Thuy – a large online fruit seller in Cau Giay (Hanoi) admitted that on this occasion most mango prices have dropped sharply. Some are halved, some are now only 1/3 of what they used to be. Ms. Thuy said that on this occasion, she sells many kinds of mangoes such as: acacia mango, Australian mango, Taiwanese mango, flat-seeded mango, etc. However, each time she imports a different type of mango for customers to choose from. . Mangoes do not retail 1-2kg as before, but are divided into 5kg bags or sold in boxes of 9-15kg. “Because of the unprecedented low price, on this occasion, the number of customers buying mangoes has increased dramatically,” she said and revealed that it is normal for her to consume about 1-2 tons of mangoes a day. One day, she sold out more than 3 tons, because most of the customers bought by the box. Like last week, she sold out about 10 tons of mangoes of all kinds. On this occasion, the harvest season was in full swing with the Covid-19 epidemic, so the price of mangoes at the growers plummeted (photo: BH) Ms. Bui Thi Tram from Hoang Van Thai (Thanh Xuan, Hanoi), also said that in the past half month, she has consumed around 1 ton of low-seeded mangoes every day. “A lot of people will not believe it. But low-seeded mangoes are very cheap. Big and beautiful fruit is only 15,000 VND/kg I sell in sets of 5kg, customers buy less than 1 set, buy 2 sets more, so the amount of mangoes sold every day is very large,” she shared. Last April, many growers in An Giang and Long An said that mangoes were in the harvest season but faced difficulties in exporting due to the impact of the Covid-19 epidemic, so the price plummeted. Ms. An, a mango farmer in Chau Doc (An Giang), lamented that if Hoa Loc mango was purchased for 40,000 VND/kg, now it only sells for 20,000 VND/kg, Thai mangoes are still sold. 15,000 VND/kg, Taiwanese mango varieties are sold at the garden for only 3,000 VND/kg. Traders buying mangoes in Long An also said that because mangoes in the southern provinces were in the midst of a busy harvest and encountered an epidemic, the price dropped. Accordingly, acacia mangoes reduced to 4,000-5,000 VND/kg, Cat Chu mango 9,000-10,000 VND/kg, Hoa Loc sand mango 15,000-17,000 VND/kg.

Because the skirt has a prominent pattern, instead of choosing T-shirts with too many pictures, words, etc., you should choose the simplest shirt to combine harmoniously with the skirt. Although the T-shirt is somewhat simple, when combined with a floral skirt, it will make your outfit more harmonious and eye-catching. Although your summer outfit is very impressive with floral skirts and t-shirts, it will not be complete without accessories such as doll shoes, sandals, sneakers or bags. 2. Two-piece shirt If you love gentleness and lightness, then why not mix a set of clothes with a two-piece top and a baby flower skirt right away. This set of clothes has a strong summer flavor, and also enhances the beauty of your thin shoulders. Baby flower skirts with colorful and fresh colors such as red, blue, pink … will be the most appropriate choice to pair with a two-piece shirt. You can choose two silk blouses, two elastic bands, … to mix with floral skirts to stand out. 3. Shirts If you are an office girl who loves fashion, but just wants to wear it simply but still be stylish, don’t ignore the combo of a white shirt mixed with a baby flower skirt. Combining a skirt with a wide white shirt is one of the familiar beautiful ideas that many fashionistas love. The advantage of this set of clothes gives you confidence, youthfulness but still lightness, femininity without being “flashy” too suitable for office bow style. 4. Armpit tops Don’t think that underarm shirt is only suitable for healthy and active outfits such as jeans, shorts, shorts,… Try to mix and match a shirt with a floral skirt, you will be surprised the effect that this set brings. The underarm shirts are made of cotton, wearing in the summer is very comfortable and comfortable. Simple shirts, with gentle neutral colors will be the most ideal choice to mix with floral skirts because patterns with colorful patterns or colors will turn the overall outfit into a mess. eye. Don’t forget to combine the set with a pair of sandals and a sedge bag to look more vintage and outstanding.

If the national costume contest honors the cultural beauty of each country, the bikini contest distracts the audience from the breathtaking curves of the girls, then the evening gown has a very attractive appeal. private. The fact that the girls wore gorgeous outfits helped the audience have a colorful beauty party. After much deliberation, Khanh Van ended up in a brilliant orange evening gown with a slit-shaped silhouette to score points in the eyes of the judges as well as international friends at this important semi-final night. The advantage of 1m76 height has helped Khanh Van confidently conquer all different outfits, this time the outfit is very elaborately invested and meticulously attached. Confidently striding professionally like the Queen of the Universe, right at the “star” moment – Khanh Van showed off her talent in posing with an extremely eye-catching turn that made everyone cheer non-stop. This is also a design that is considered to be very suitable for the body of the representative of Vietnam. With deliberate steps and eyes directed at the camera lens, Khanh Van’s eyes showed pride because she had fought hard for the past few days for the colors of the flag so that tonight, she had almost done it. achieve your youthful dream. True to the spirit she had said before: “No matter what, I will fight to the end.” Taking on the role of vedette for the semi-final show, Khanh Van successfully completed 2 parts of her bikini and evening gown contests. The daily efforts have made millions of hearts who love Khanh Van at home expect a new achievement for Vietnam – and everyone always believes in Khanh Van – the brave girl competing in the middle of the epidemic season. half a world away from home.

There have been many trends in food and beverage coming and going, but green tea has been the drink that has captured Gen Z’s special affection for many years. It is an especially useful and convenient spice for young people to cool down their lives before the stresses, fatigue of work, study, exams or treckking, camping, and backpacking trips throughout the summer. Green tea brings a lot of interesting surprises with special health benefits. Not only is it a refreshing drink in the middle of a hot summer day, green tea also helps to relieve stress, fatigue, and cool down life thanks to the compound EGCG in tea leaves. EGCG is a natural polyphenol found most commonly in green tea leaves, helping you to always have a relaxed mind, improve your memory. EGCG also helps Z Gen to lose weight, keeping in shape before the temptation of fast food and especially anti-aging, for smooth, rosy skin so that young people can keep their youthful beauty. With great uses, green tea has automatically become a “hot hit” drink for young people, because for today’s young people, healthy becomes a lifestyle rather than just a temporary concern according to trendy. Bottled green tea is always a favorite choice of travelers to relieve stress and fatigue. The reward and payment method of the “cloud citizens” is different, they do not spend hours and hours sitting “living slowly” with each hand-made cup of tea, but “enjoy” the acrid taste and characteristic aroma of leaves. The tea is bottled in favor of each street, wheelchair circle when “vi vu” discovers the nature of the country. Although the way of enjoying tea has become modern, Gen Z – the generation is considered to be wise consumers who always care about the origin and quality of products. In particular, only use bottled green tea products of natural and healthy origin. Khong Do Green Tea is a drink that has always been in the top “hot hit” of young people for many years Among the myriad of bottled green teas, according to experts, the secret to the quality of bottled tea lies in the taste. Products that retain the characteristic acrid taste of tea leaves and the most natural aroma will have a high level of EGCG and maximize the nutrients of the tea leaves during the extraction process. One of the products that are always in the top “hot hit” for many years is Khong Do Green Tea. The product is rated by 75% of consumers to have the most distinctive acrid taste and aroma among the bottled green tea available on the market. The product is loved by young people from north to south in the journey to discover the country Not only Green Tea is loved not only because this drink is extracted from Thai Nguyen green tea leaves but with Aseptic cold and sterile extraction technology, it retains the highest EGCG content and nutrients in the extraction process. export. With EGCG compound and the most retained nutrients in the extraction process, Zero Degree Green Tea has become a favorite drink for young people and an indispensable item in the youth’s inventory, who always have a lifestyle. active, love outdoor activities, passion to explore nature to relieve stress, fatigue, cool off life in all the ways to explore the country. With EGCG compound, Zero Degree Green Tea helps keep skin beautiful, becoming the “national drink” of young people in all regions. Although it is a very popular and popular drink, second only to filtered water, green tea “surpassed” the trend of drinks imported into Vietnam and became a “national drink” loved by millions of young people. and use every day to relieve all stress, fatigue, cooling life. From April 5 to July 3, Tan Hiep Developed a promotion program with more than 300,000 cash prizes, applicable to the products of Khong Do Green Tea, Dr Thanh Tea, Number 1 Energy Drinks, Number 1 Chanh Strawberry, Number 1 Active Drinks, Number 1 Soya Soy Milk. Users just need to tear the bottle label and text the code to the 6020 switchboard, to have a chance of winning more than 300,000 cash prizes. In particular, the program has 3 millionaire prizes of 100 million VND and one billionaire award of 1.2 billion VND.

Like the “underground rule” in the fashion world, every time a series of stars “meet” any outfits, that item will immediately fall into the eyes of the grave. A leather jacket model from Celine’s Spring-Summer 2021 collection is an example. Not only being promoted by Jungkook (BTS), Cha Eun Woo (Astro), the summer-inspired coconut tree motif design is also favored by the stars. In the new pictures taken with BTS, Jungkook has made an impressive point with Celine’s eye-catching color-coordinated leather jacket. The design with raglan arm is mixed in a sporty style. Creating a curly blonde hair shape also brings plus points, making Jungkook become more romantic and attractive. “Confrontation” with BTS member is Cha Eun Woo. Astro’s idol wears a leather jacket with a unique color-coordinated T-shirt and jeans. The addition of the costume with the forehead headband has emphasized the dynamic look and personality of the star born in 1997. Also thanks to the creation of ten thousand people, the “male theologian” has received more than 4 million heart drops for the series photo posted on personal page. Celine’s patterned leather shirt is also the outfit that makes the rebellious look for Jeno (NCT DREAM) in the new album promotion photo “Hot Sauce”, released on May 10. Jay Park “hiccup” with raglan design when filming the show. The famous rapper’s outfit has attracted countless compliments on social networks. Netizen said that he had an excellent “age hack” when he mixed jacket with jeans, a black collar shirt and special accessories. As a guest on the show “I Live Alone”, Kang Daniel made the public excited by wearing a “hot hit” shirt, which was promoted by many seniors. The “National Center” is also excited to take a selfie, showing off the attractive visual with a jacket that is being welcomed by many followers. In the finale of Creative Entrepreneurship 2021, Mika (INTO1) made the red carpet “wobble” when appearing with the whole set of “genuine” Celine. The blonde American man wears a black tree, and a coconut tree-patterned Celine jacket is a highlight. Close-up of the outfit helps “prince of love” stand out at an important event. Immediately after being displayed by Mika, the leather shirt design and even the Celine-branded T-shirt became the focus of the Mainland devotees. Vuong Nguyen (TFBoys) also had a moment of ecstasy with the shirt “making the rain”. Sampling a color combination shirt as a highlight, Vuong Nguyen easily scored the maximum score even when only wearing a monochrome T-shirt and jeans. Luka Sabbat hides Celine’s items from head to toe. Not only mixing leather jacket with jeans, he also wears CT-02 shoes that match with the overall. Symone, the winner of the RuPaul’s Drag Race season 13, wears leather jacket on L’Uomo Vogue magazine. It is known that the “hot hit” shirt that is favored by a series of stars is the design from Celine’s Spring Summer 2021 collection. This item is currently listed for $ 6,400 (nearly 150 million) on the brand’s website. Perform: Ngoc Pham

Like the “underground rule” in the fashion world, every time a series of stars “meet” any outfits, that item will immediately fall into the eyes of the grave. A leather jacket model from Celine’s Spring-Summer 2021 collection is an example. Not only being promoted by Jungkook (BTS), Cha Eun Woo (Astro), the summer-inspired coconut tree motif design is also favored by the stars. In the new pictures taken with BTS, Jungkook has made an impressive point with Celine’s eye-catching color-coordinated leather jacket. The design with raglan arm is mixed in a sporty style. Creating a curly blonde hair shape also brings plus points, making Jungkook become more romantic and attractive. “Confrontation” with BTS member is Cha Eun Woo. Astro’s idol wears a leather jacket with a unique color-coordinated T-shirt and jeans. The addition of the costume with the forehead headband has emphasized the dynamic look and personality of the star born in 1997. Also thanks to the creation of ten thousand people, the “male theologian” has received more than 4 million heart drops for the series photo posted on personal page. Celine’s patterned leather shirt is also the outfit that makes the rebellious look for Jeno (NCT DREAM) in the new album promotion photo “Hot Sauce”, released on May 10. Jay Park “hiccup” with raglan design when filming the show. The famous rapper’s outfit has attracted countless compliments on social networks. Netizen said that he had an excellent “age hack” when he mixed jacket with jeans, a black collar shirt and special accessories. As a guest on the show “I Live Alone”, Kang Daniel made the public excited by wearing a “hot hit” shirt, which was promoted by many seniors. The “National Center” is also excited to take a selfie, showing off the attractive visual with a jacket that is being welcomed by many followers. In the finale of Creative Entrepreneurship 2021, Mika (INTO1) made the red carpet “wobble” when appearing with the whole set of “genuine” Celine. The blonde American man wears a black tree, and a coconut tree-patterned Celine jacket is a highlight. Close-up of the outfit helps “prince of love” stand out at an important event. Immediately after being displayed by Mika, the leather shirt design and even the Celine-branded T-shirt became the focus of the Mainland devotees. Vuong Nguyen (TFBoys) also had a moment of ecstasy with the shirt “making the rain”. Sampling a color combination shirt as a highlight, Vuong Nguyen easily scored the maximum score even when only wearing a monochrome T-shirt and jeans. Luka Sabbat hides Celine’s items from head to toe. Not only mixing leather jacket with jeans, he also wears CT-02 shoes that match with the overall. Symone, the winner of the RuPaul’s Drag Race season 13, wears leather jacket on L’Uomo Vogue magazine. It is known that the “hot hit” shirt that is favored by a series of stars is the design from Celine’s Spring Summer 2021 collection. This item is currently listed for $ 6,400 (nearly 150 million) on the brand’s website. Perform: Ngoc Pham

Illustration. https://kinhtexaydung.petrotimes.vn The cost of pollution in Europe has risen by more than 50% this year, signaling that climate policies need to be harsher, the region is also starting to make a difference. Futures in the carbon market of Europe, the largest market in the world, exceeded $ 60 / ton for the first time on May 4. Rising prices make it more expensive to release carbon dioxide into the air and force the industry to look for cleaner ways to run production. According to Ulf Ek, investment director at London’s Northlander Commodity Advisors LLP, the bulls have to go further. He hopes the futures contract will trade as high as $ 91 / ton by the end of the year, to boost his incentive to protect the environment. The rise in prices and industry concerns about its competitiveness, poised to put further strain on political discussions about the implementation of the “Green Agreement,” aimed at achieving neutrality. on climate by 2050 and strengthening emissions reduction targets by 2030. Some technologies to cut emissions, such as hydrogen generated without pollution, are still too expensive for steel and chemical manufacturers. But further price hikes could change that. Record carbon prices in Europe will strengthen the Government budget. EU leaders are arguing about enacting stricter pollution targets over the next decade at an extraordinary summit in Brussels, to be held on May 23. On July 14, the European Commission will propose a regulatory package to enact a new goal, by 2030, to cut greenhouse gases by at least 55% from 1990 levels. Agree by national governments and the European Parliament to become the binding rule. https://kinhtexaydung.petrotimes.vn

Strong and delicious yellow plaice meat is a rare specialty for fishermen in Cam Nhuong waters. So, as soon as we landed, after only 3 hours, the batch of goldfish was sold out. Previously, on January 24, while fishing near the shore at the estuary of Cam Nhuong commune (Cam Xuyen), fisherman Le Xuan Tien’s boat caught the net over 200 goldfish (commonly known as goldfish). positive). Each fish weighs from 7 – 12 kg. Strong and delicious yellow plaice meat is a rare specialty for fishermen in Cam Nhuong waters. So, as soon as we landed, after only 3 hours, the batch of goldfish was sold out. With the selling price of 300,000 VND / kg, fishermen Le Xuan Tien earned about 600 million VND. Subtracting the cost of fishing, each fisherman on the boat earns an income of over 40 million VND after one night. Mr. Nguyen Van Hung – Chairman of Cam Nhuong Commune People’s Committee said: “Winning goldfish is rare, this is a lot of net hit by yellow fish with large weight. According to the old fishermen in Cam Nhuong commune, for the first time in a decade, this sea has a boat that has hit the goldfish net. Nearly 3 months later, fisherman Le Xuan Tien and his friends continued to hit strongly. Around 2 am on April 16, while fishing 1.5 km from Cua Nhuong beach, fishermen Le Xuan Tien’s boat continued to catch more than 2 tons of goldfish. The net is nearly 300 fish, each weighing 7 – 10 kg. Immediately after arriving at Con Go at 4:00 am, fishermen Le Xuan Tien sold all of them at 300,000 VND / kg, earning more than 600 million VND. According to the people of Cam Nhuong, for the first time in a decade, this sea has a boat that has been hit by a heavy goldfish net. Fisherman Le Xuan Tien shared: “We are very happy to bring the large batch of fish ashore. With more than 600 million VND collected, the boat owner will get half of the money, the rest will be shared with the boat friends. On average, each employee earns 30-35 million dong. ” Mr. Nguyen Van Hung – Chairman of Cam Nhuong Commune People’s Committee said: “The whole commune has 252 boats of all kinds, of which more than 130 boats are fishing 10 to 15 nautical miles from the coast. From the beginning of April up to now, the whole commune has caught nearly 40 tons of aquatic and assorted seafood; Seafood prices increase by 20-30% over the same period last year. Specifically: large fresh squid 300 – 320 thousand VND / kg, mackerel 180 – 200 thousand VND / kg, scallop 50,000 VND / kg… ”. Fisherman Le Xuan Tien (in the middle), who hit the yellow fish twice Mr. Nguyen Viet Hung – in charge of the Department of Fisheries Exploitation, Ha Tinh Fisheries Department, said that this year, the aquatic and marine resources of the male fish crop in our province appeared quite early with relative yields. These signals motivate people to buy more fishing gear, repair boats, continue to rise offshore and stick to the sea. Reporter (Synthetic)

To complete the task, the officers and soldiers of the 209th Regiment created a winch to tie the zipper to the cannon shaft and then release it gradually, while inserting and inserting the cannon from the rapid, out of control. Thanks to this initiative, cannon towing speed was increased, while ensuring the safety of artillery, personnel, and soldiers. In addition, the army had to pull artillery all night to cover the enemy’s eyes, but in the dense forest areas, the unit still encouraged the soldiers to take advantage of more daytime pulling in order to make progress. To avoid being exposed, the soldiers had the idea of ​​spreading camouflage leaves, covering the cannon hull. On sunny days, camouflage trees had to be changed several times, and at the same time they had to be taken from elsewhere, away from the artillery track and shelter so that enemy reconnaissance aircraft could not detect them. With the above initiatives, after nearly 10 days and nights, the officers and soldiers of the 209 Regiment pulled 12 cannons into the battlefield in accordance with the agreement, ensuring safety, making an important contribution to the historic victory of electricity. Bien Phu.

The scale of e-commerce retail of consumer goods and services increased from 4 billion USD in 2015 to about 11.5 billion USD in 2019. The report predicts that the growth rate of 2020 will continue to remain above. 30% and reach the scale of 15 billion USD. VECOM’s Vietnam E-commerce Index 2021 also cited Google, Temasek and Bain & Company Southeast Asia’s E-commerce 2020 report, Vietnam e-commerce 2020 increased 16% and reached a scale of over 14 billion. USD. Online shopping continues to grow Of which, online retail sales increased 46%, ride-hailing and tech food increased 34%, marketing, entertainment and online games up 18%, and online travel down 28%. . This report also predicts an average growth rate of 29% in the 2020-2025 period and by 2025, our country’s e-commerce scale will reach 52 billion USD. E-commerce has had impressive numbers despite the impact of the epidemic. According to VECOM data, the output of postal items through express delivery services will increase by 47% by 2020. The leading delivery companies have posted mail growth rates ranging from 30% to 60%. Sales of digital marketing services are about 26 million USD, in 2015 increased to 329 million USD. Report on Vietnam’s digital marketing trends 2021 shows that digital marketing revenue in 2019 is 716 million USD and despite the Covid-19 epidemic, this number in 2020 is still 820 million USD and it is predicted that in 2021 it will be to $ 1 billion. The above report also said that during the Covidi-19 epidemic the online payment field continued to grow strongly. According to the Vietnam Bank Card Association in the first 6 months of 2020, banks have issued up to 10.3 million new cards of all kinds, bringing the total number of cards in Vietnam to 103.4 million. In which, the number of international cards is 15 million and domestic cards are 88.4 million. Sales of spending payments by e-commerce channels in the first six months of 2020 increased 17%. Race supper app To accommodate the new needs of consumers, the concept of super apps or “super apps” refers to the role and advantages of apps that provide a mobile ecosystem. It’s time for business to make changes to add even more value to consumers from its mobile apps and websites. The proportion of businesses with a mobile version website has not changed much compared to previous years, it can be seen that most businesses no longer choose to build a separate website for the mobile version, instead. is a solution to build a new website with technology that automatically adjusts the interface compatible with different platforms such as computers, tablets, mobile … Unlike the mobile version website, building applications on mobile platforms of the business requires a higher level than a normal website. Instead, if consumers want to download, install and use regularly, the application requires to provide a variety of solutions, products and services suitable to many different needs of customers.

The scale of e-commerce retail of consumer goods and services increased from 4 billion USD in 2015 to about 11.5 billion USD in 2019. The report predicts that the growth rate of 2020 will continue to remain above. 30% and reach the scale of 15 billion USD. VECOM’s Vietnam E-commerce Index 2021 also cited Google, Temasek and Bain & Company Southeast Asia’s E-commerce 2020 report, Vietnam e-commerce 2020 increased 16% and reached a scale of over 14 billion. USD. Online shopping continues to grow Of which, online retail sales increased 46%, ride-hailing and tech food increased 34%, marketing, entertainment and online games up 18%, and online travel down 28%. . This report also predicts an average growth rate of 29% in the 2020-2025 period and by 2025, our country’s e-commerce scale will reach 52 billion USD. E-commerce has had impressive numbers despite the impact of the epidemic. According to VECOM data, the output of postal items through express delivery services will increase by 47% by 2020. The leading delivery companies have posted mail growth rates ranging from 30% to 60%. Sales of digital marketing services are about 26 million USD, in 2015 increased to 329 million USD. Report on Vietnam’s digital marketing trends 2021 shows that digital marketing revenue in 2019 is 716 million USD and despite the Covid-19 epidemic, this number in 2020 is still 820 million USD and it is predicted that in 2021 it will be to $ 1 billion. The above report also said that during the Covidi-19 epidemic the online payment field continued to grow strongly. According to the Vietnam Bank Card Association in the first 6 months of 2020, banks have issued up to 10.3 million new cards of all kinds, bringing the total number of cards in Vietnam to 103.4 million. In which, the number of international cards is 15 million and domestic cards are 88.4 million. Sales of spending payments by e-commerce channels in the first six months of 2020 increased 17%. Race supper app To accommodate the new needs of consumers, the concept of super apps or “super apps” refers to the role and advantages of apps that provide a mobile ecosystem. It’s time for business to make changes to add even more value to consumers from its mobile apps and websites. The proportion of businesses with a mobile version website has not changed much compared to previous years, it can be seen that most businesses no longer choose to build a separate website for the mobile version, instead. is a solution to build a new website with technology that automatically adjusts the interface compatible with different platforms such as computers, tablets, mobile … Unlike the mobile version website, building applications on mobile platforms of the business requires a higher level than a normal website. Instead, if consumers want to download, install and use regularly, the application requires to provide a variety of solutions, products and services suitable to many different needs of customers.

◎”Shield-2″ space missile

This mysterious space weapon is the guy in the picture above-the “Shield-2” space missile. It can be seen from the naming that this is a weapon that focuses on self-defense. Of course, the specific method of self-defense must be defined by the Soviets.

As shown in the figure above, the “Shield-2” space missile consists of four parts, from left to right are the solid fuel rocket engine, the spin attitude stabilization system, the warhead, and the seeker.

◎Close-up of the seeker and warhead of the “Shield-2” space missile

From the structural point of view, except for the fin-shaped spin attitude stabilization system, the structural composition of the “Shield-2” space missile is not much different from the common missile structure. Of course, the most interesting thing is the densely packed bullet warhead. The warhead of the “Shield-2” space missile consists of as many as 96 sub-munitions. The sub-munitions will spread out when approaching the target, forming a barrage to intercept the target. The killing method is hard kill. According to another report from Red Star TV, this submunition may also have a propulsion device, but Red Star TV did not further explain how its propulsion device works. The “Shield-2” space missile has some unknown secrets.

◎Diamond military space station model

The “Shield-2” space missile was developed for the “Salute-4” military space station, which was one of the Soviet military space stations. It was originally planned to enter space in the late 1970s, but the “Diamond” military space station project was cancelled. The launch of the “Salute-4” military space station was also cancelled, and the “Shield-2” space missile and “Shield-1” space cannon attached to the “Salute-4” space station also failed to enter space service.

◎”Shield-1″ 23mm space cannon

However, it is worth mentioning that the “Shield-1” 23mm space cannon entered space with the “Salute-2” space station in 1974, and conducted the only space thermal weapon launch test so far. The “Shield-1” 23mm space cannon is actually a space variant of the R-23M self-defense cannon equipped with the Tu-22 supersonic bomber. The “Shield-1” is installed at the front end of the “Salute-2” space station to offset it. The recoil produced by the guns in space affects the attitude of the space station. When the “Shield-1” guns are fired, the space station must turn on the thrusters opposite to the gun recoil to counteract the recoil.

In addition, the “Shield-1” space cannon is installed in a fixed manner, which means that when the “Shield-1” is fired, the attitude of the space station must be adjusted to aim at the target. The operation is more complicated, and it is only due to the efficiency of self-defense. In other words, “Shield-1” is obviously inferior to “Shield-2”, but it is a pity that “Shield-2” has never had the opportunity to test in space since its birth, and “Shield-1” was able to be used on the “Salute-2” space station. On the last day of the orbit, a test was fired in space. It is reported that a total of 20 shells were fired from the Shield-1 during the test, and all the shells entered the atmosphere and burned.

On April 22, Beijing time, this season’s Super League Group B officially kicked off in Suzhou. In a game at the Kunshan Sports Center, Tianjin Jinmen Tigers 1-6 defeated Shanghai Harbour, which was also the second tragic loss in the history of the Super League. The league started after Shanghai SIPG had beaten Dalian Yifang 8-0 at home. However, from the perspective of the scene, the lower limit of the league shown by Tianjin Jinmen Tigers this season will only be lower. Starting from 70 minutes in the second half, Shanghai Haigang began to replace three foreign attackers. If it were not for the mercy of Shanghai Haigang, Jinmen Tigers’ The goals conceded are likely to be in double digits.

The goal of the Tianjin Jinmen Tigers in this game is to lose less when they lose. Yu Genwei, who served as the head coach of the Super League for the first time, has a 541 formation. A certain effect was achieved in the first 20 minutes, but due to the lack of systematic training of the players, more than 30 minutes later, many Jinmen Tigers have experienced a sharp decline in physical fitness. The Tianjin team’s defense immediately became full of loopholes, relying on Oscar’s two feet. Pass in seconds, the harbor led by 2 goals in the first half. In the second half, the harbour opened the game, scoring 4 goals in 10 minutes from 47 to 57 minutes of the game, expanding the score to 6-0.

With the expansion of the score, the game has lost the significance of the competitive level. When Anautovic scored the sixth goal for the team, the Harbour players did not even have the excitement after scoring, just stepped forward gently. High five to celebrate. In the last minute of the game, the Tianjin team took advantage of a counterattack opportunity to score a face-saving goal by foreign aid Iloki, with this ball to save a trace of face.

From the technical statistics after the game, the possession rate of Haigang reached 73%, while the possession rate of Tianjin Jinmenhu was only 27%, and the number of shots by Haigang was as high as 22 times. Jinmenhu only had a pitiful 3 times. From the perspective of the offenses completed in the game, the harbor completed 164 offenses and created 96 dangers, while the Jinmen Tigers only completed 67 offenses, and only 16 offensives that created a certain threat were made. No matter from which point of view, this is not a level of league contest.

It is difficult to give more criticism to the Tianjin Jinmen Tigers’ fiasco. Before the official start of the league, this team only trained for less than three weeks. Correspondingly, the club’s five-month “disorder” If it were not for the forced “resurrection” on March 28, Tianjin Football would have bid farewell to the Super League territory.

After cleaning up the remaining strength of Tianjin TEDA, the current Jinmen Tigers can only meet the registration requirements of the Super League in terms of numbers. Many of the new forces the club has added in the transfer market have not experienced systematic winter training. Two foreign aid central defenders, Kadar, played for Shandong Luneng last season and are considered to be of average level, while former foreign aid Iloki played for Sichuan Youbixuan last season, and was subsequently loaned to Suzhou Soochow by Youbixuan on a temporary loan. In May, although he scored a goal in this game, he is basically only a foreign aid at the level of China. Jinmen Tigers starting forward Li Xiang, although he came from TEDA youth training, but did not represent TEDA’s record in the Super League. Before that, he had been mixed in low-level leagues such as China A and China B.

Such a lineup, don’t mention the Super League, in the eyes of many insiders, I am afraid that the competitiveness is not as good as that of many Chinese A teams. Although Tianjin Football ultimately retained the Chinese Super League qualification “dramatically”, with such a team, how to survive in the Chinese Super League deserves outside attention. Last season, Tianjin Teda did not have a win in the 14th round of the league, but using the special format, it was lucky to be relegated in the knockout stage. This season, if the Tianjin Tianjin Tigers cannot introduce strong support in the second transfer window, their overall performance will only be better than last season’s TEDA. More tragic.

Although the head coach Yu Genwei affirmed the team’s fighting spirit after the game, the current situation of the team may be difficult to change in the short term. The “resurrected” Tianjin Jinmen Tigers has greatly refreshed the lower limit of the Chinese Super League, and this has an impact on the overall trend of the league. I am afraid it will also have a profound impact. (Sohu Sports Pei Li)

Dominating the hearts of women in recent times, perhaps the high waistband pants. The highlight of this pants model is the high waistband, long and wide downline. This design helps hack legs, hack significantly because the waistband is high and also helps to conceal defects with a slim, long, wide shape. Wide-legged pants can be jeans or plain pants. With each type of pants can create an interesting style. The jeans are dynamic, youthful can be combined with T-shirts, tank tops, croptop T-shirts, … you will become active, young and several years younger. 2. Baggy pants An indispensable pair in the summer is baggy pants. The fever of these pants has not cooled down yet. Baggy pants can be combined with many styles to create many youthful and dynamic styles. With high back baggy trousers, is a great choice for women in the office. Women’s canvas baggy pants come in a variety of smooth pastel color combinations that are very elegant and easy to use. You can buy multiple colors to change it regularly, to avoid boredom. The pink and yellow tones of women’s baggy pants are very popular because they are bright colors, easy to mix with shirts or T-shirts. If you are tired of tight-fitting jeans, try baggy jean. High waist baggy jeans are a great choice for girls because although they look bold, they make you extremely attractive and feminine with long legs and ant waist. 3. Pants biker The hot hit pants are nearly full of hot facebook, hot insta often worn are biker pants. These pants are quite short, above the knee and tight like leggings. Biker pants are very popular because everything is beautiful. Biker short mix T-shirt is the recipe that many girls choose and apply the most. Simple, fast, but also bring great effect are the advantages of this mix. If you feel a bit shy about wearing a tight short leggings, the oversized T-shirt will make you feel a lot more comfortable. A T-shirt combined with biker pants is a great combination, giving a feeling of freedom and dynamism. Jennie is active when she mixes biker pants with a sweater. Mixing biker pants with a blazer is also a smart creation and affirms a very high fashion personality.

When arriving in the area of ​​Phuoc Thanh commune, My Tho city, suddenly hit the motorbike BS: 63AS-023.37, controlled and carried by Mr. Vo Minh Tri (39 years old, living in Phuoc Thanh commune, My Tho city). The daughter is Vo Thi Xuan Mai (14 years old) traveling in the same direction. This passenger car continued to break the roadside lighting post and then stopped 80m from the scene. Being hit, father and daughter fell on the street, the female student died on the spot, a passenger and Mr. Tri were seriously injured and were taken to the emergency room. The scene of the accident The lighting post was turned on and fell along the roadside, the power line pulled across the road was also broken, so the people had to temporarily fix the problem. Relatives of the victim said that Mr. Tri was on his way to school when he was in an accident. At the scene, the school girls’ notebooks were scattered on the road, motorcycles and passenger cars were badly damaged. Passenger car cramped Receiving the news, the Traffic Police Department of Tien Giang province was promptly present at the scene and coordinated with Phuoc Thanh Commune Police and My Tho City Police to regulate traffic and investigate the cause of the accident. Until 9:30 am the same day the scene was completed.

The pace of reduction and cash out of the National Large Fund seems to be increasingly anxious.

This time, the target of the big fund reduction is SMIC, the chip leader with a market value of over 280 billion. On the evening of April 15, according to the latest data disclosed by the Hong Kong Stock Exchange, the National Integrated Circuit Industry Investment Fund (“Big Fund”) reduced its holdings of 100 million SMIC Hong Kong stocks on April 9 and 12. The proportion dropped from 9.62% to 8.93%.

Prior to this, the big funds have successively reduced their holdings of Jingfang Technology and Zhaoyi Innovation. In addition, Anji Technology, Beidou Xingtong, Changchuan Technology, Taiji Industry, and Changjiang Electronics Technology have all been in the reduction plan of the big funds.

In the past, China’s chip industry’s largest gold owner has now become one of the main “short” forces, which may be related to the investment rhythm of the national fund. It is reported that from 2019 to 2024 is the payback period of the first phase of the National Fund, so the large fund’s reduction and exit of chip stocks will continue with a high probability.

At present, large funds still hold SMIC, Anji Technology, Zhaoyi Innovation, Jingfang Technology, Changjiang Electronics Technology, Sanan Optoelectronics, Changchuan Technology, North China Huachuang, Tongfu Microelectronics, Ninestar, Taiji Industrial, 23 A-share companies including Goodix Technology, Guokewei, Jingjiawei, Chipengwei, China Resources Micro, Rockchip, Shanghai Silicon Industry, Saiwei Electronics, Jacques Technology, VeriSilicon, Beidouxingtong, Wanye Enterprise, etc. .

280 billion chip giant is underweight by big funds

It should come, it will come. But what surprised the market a little is that this time the big fund selling target was SMIC.

On the evening of April 15, the Hong Kong Stock Exchange disclosed two data on shareholding reductions, which aroused market attention.

On April 9, the National Integrated Circuit Industry Fund reduced its holdings of SMIC’s H shares, with an average price of HK$26.15, involving 45 million shares, and its shareholding ratio dropped from 10.19% to 9.62%;

On April 12, the big fund made another move, reducing its holdings of SMIC’s H shares by 55 million, with an average price of 25.56 Hong Kong dollars, and its shareholding ratio dropped from 9.62% to 8.93%.

Based on the average price and quantity of the reduction, the accumulated cash amount of the two major fund reductions reached HK$2.583 billion.

It is worth mentioning that under the sell-off of big funds, SMIC’s stock price was under pressure on April 9th ​​and April 12th, and it closed in the green market for 2 consecutive trading days. Among them, the decline on April 12th was even greater. Close to 4%.

As of the close of April 15, the total market value of SMIC was approximately HK$286.97 billion, of which the A stock market was valued at HK$131.68 billion and the Hong Kong stock market was valued at HK$155.29 billion.

As the largest and most complete chip manufacturer in mainland China, SMIC was once known as the “Hope of the Village” under the interference of the United States. So why did the big funds suddenly reduce their holdings?

First look at the performance level. On March 31, 2021, SMIC disclosed its 2020 annual report. According to the performance report, SMIC’s 2020 revenue was 26.97 billion, a year-on-year increase of 25.4%; the net profit attributable to the company reached 4.69 billion yuan, a year-on-year increase of 204.9%, and the gross profit margin increased from 20.6% in the previous year to 23.6. %.

This is a transcript that satisfies the market. The next day, SMIC’s H-share share price soared by nearly 5%. From this point of view, the reason for the reduction of large funds is not because SMIC’s operating level has changed. In fact, SMIC’s operating environment in 2021 will be much better than in 2020.

At present, the chip industry is in a very tight state: shortage of production capacity and rising prices have become the “main theme” of the global chip industry. At the same time, the trend of the global semiconductor industry’s transfer to China continues. Under the superposition of the two, the production capacity of China’s semiconductor industry chain is tight.

On April 15th, TSMC CEO Wei Zhejia stated on a conference call that the company’s customers are currently experiencing capacity shortages across the entire industry. The global chip shortage may continue at least until the end of this year, or even 2022.

China Galaxy Securities believes that at present, the world is facing a shortage of semiconductors. The domestic supply chain has advantages in the recovery of the supply chain due to better epidemic control. The semiconductor industry is booming. In 2021, the semiconductor industry will continue to maintain rapid growth under the dual logic of technological innovation and upgrading and domestic substitution. .

In this view, the reduction of SMIC by the National Large Fund may be due to its own funding arrangements and investment cycle considerations.

The real reason for the reduction of large funds

In fact, the reduction of chip stocks held by large funds is not new in the capital market. In the past year, the first phase of large funds has respectively completed the reduction of 1% of Jingfang Technology and 2% of Zhaoyi Innovation.

Entering 2021, the steps of large funds to reduce their holdings and cash out seem to be increasingly anxious. On January 23, it disclosed the shareholding reduction plan of Jingfang Technology, Zhaoyi Innovation and Anji Technology in one breath, and the reduction ratios did not exceed 2%. Among them, Zhaoyi Innovation and Jingfang Technology have been reduced in some stocks. ; On April 7, it re-announced its 10.154,600 share reduction plan for Big Dipper; on April 13, another member of the big fund’s reduction list was added: Changchuan Technology, which also reduced its holdings by 2%.

In this way, the reduction of large funds is not aimed at a certain chip company, but systematically and comprehensively reduce holdings and withdraw funds.

This may be related to the investment rhythm of the National Large Fund. It is reported that the first phase of the large fund has invested in the chip industry for more than 5 years. According to the previous investment plan, 2019-2024 is the investment payback period of the first phase of the national large fund. Therefore, the large fund’s reduction and withdrawal of chip stocks are still probable. will continue.

At present, large funds still hold SMIC, Anji Technology, Zhaoyi Innovation, Jingfang Technology, Changjiang Electronics Technology, Sanan Optoelectronics, Changchuan Technology, North China Huachuang, Tongfu Microelectronics, Ninestar, Taiji Industrial, 23 A-share companies including Goodix Technology, Guokewei, Jingjiawei, Chipengwei, China Resources Micro, Rockchip, Shanghai Silicon Industry, Saiwei Electronics, Jacques Technology, VeriSilicon, Beidouxingtong, Wanye Enterprise, etc. .

An insider once told a reporter from a brokerage firm China that since the establishment of the first phase of the National Fund, it has made great profits by investing in listed companies in the semiconductor industry. Will not have a major impact.

Xu Tao, chief analyst of the electronics group of CITIC Securities, previously stated that when the first phase of the large fund enters the payback period, the second phase will take over the investment, but the second phase will not directly take over the first phase. Leading companies in various fields of integrated circuits will continue to be the key investment targets of the second phase, and the manufacturing sector will still account for the largest proportion.

The second phase of the big fund has invested 22.1 billion, and bet on SMIC

The first phase of the large funds reduced their holdings and withdrew, but the second phase of the large funds invested in China’s chip industry is increasing, and SMIC became the key investment target of the second phase of the large funds.

In May 2020, the second phase of the National Grand Fund and the second phase of the Shanghai Integrated Circuit Fund injected US$1.5 billion and US$750 million in SMIC’s subsidiary SMIC. Calculated at the exchange rate at the time, the capital injection was equivalent to RMB 10.6 billion and RMB 5.3 billion respectively;

In July 2020, SMIC went public on the Science and Technology Innovation Board. The second phase of the Big Fund invested 3.5 billion yuan to participate in its strategic placement, and was allocated 127 million shares, with a shareholding ratio of 1.65%;

In December 2020, the second phase of the Big Fund once again entered SMIC’s new Beijing project-SMIC Beijing Integrated Circuit Manufacturing (Beijing) Co., Ltd., which produces 12-inch integrated circuit wafers and integrated circuit packaging series, with a total investment of 7.6 billion US dollars. Among them, SMIC’s investment accounted for 51%, and the second phase of the large fund invested US$1.2245 billion, and the investment accounted for 24.49%.

The total amount of these three investments alone is as high as 22.12 billion yuan, which is higher than the total amount of cash in the first phase of large funds in recent years. At present, the second phase of the Big Fund has invested in 9 companies, of which SMIC, SMIC Southern, and SMIC Beijing occupy 3 seats. This shows that the second phase of the Big Fund attaches great importance and support to SMIC.

According to data, the registered capital of the second phase of the Big Fund is as high as 204.15 billion yuan, and there are 27 shareholders, including the Ministry of Finance, China Development Bank Finance, China Tobacco and other state agencies, as well as national funds, as well as local government background funds, central enterprise funds, Private enterprise funds, etc., will continue to invest in China’s semiconductor industry under the responsibility of the first phase.

After the wind and rain, the real grass is still the most fragrant. According to the latest data, in January, the world’s largest Chinese equity fund, which reduced its holdings in Moutai, played high selling and buying low, and bought it again!

The world’s largest Chinese equity fund increased its holdings of Moutai in March!

According to the latest data from Morningstar’s official website, the world’s largest Chinese equity fund “UBS (Luxembourg) China Select Equity Fund (USD)” increased its holdings in Kweichow Moutai in March, with its share increasing by nearly 15%. As of March 31, Guizhou Moutai is the fund’s third largest stock. In addition, it has also increased its holdings in Tencent, and its heavy holdings include Ping An of China, Alibaba, and NetEase.

As of the end of March, the market value of Moutai in Kweichow held by this fund is US$877.9 billion, which is equivalent to more than RMB 5.7 billion.

You know, this fund reduced its holdings in Moutai in late January this year. At that time, it was reported that as of the end of January, Guizhou Moutai was the fund’s fifth largest holding stock. Compared with the end of 2020, the fund held Guizhou. Moutai decreased by 3.66%.

In addition to this fund, funds under the US Capital Group have reduced their holdings of Moutai at the end of 2020.

After foreign capital reduced its holdings of Moutai, various core assets have begun to fall back this year. Take Moutai as an example, it has withdrawn 23% from the high point this year.

However, it is worth noting that the capital group that holds the largest number of shares in Moutai in the world, its “New World Fund” is still reducing its holdings in Moutai in March, and Morningstar’s data shows that its share has dropped by 7%.

It seems that foreign investment also has different views on Moutai.

Shareholders: Foreign investors are doing T?

Is white wine still fragrant?

On April 8th, China Merchants Food invited several guests to discuss the valuation of liquor, which investors are more concerned about, in the form of interviews. Share how to price liquor assets and how to invest in liquor under different investment frameworks.

It mentioned that Huang Ruiqi, Senior Fund Manager of Allianz Global, mentioned The stock price of the liquor sector rose too fast last year, which exceeded the support provided by profit growth. The latter part mainly relied on the increase in valuation, and a more dangerous situation appeared. The stock price correction is only a matter of time. After the Spring Festival holiday, investment sentiment changed, triggering a sharp drop in stock prices. We tracked the channel and found that the fundamentals have not changed much, so we judged that the fluctuations since the beginning of the year have little to do with the basic factors, mainly due to the outflow of profitable funds brought about by the change in investment sentiment.

The valuation increase of A-share liquor stocks in the past few years is also partly due to foreign participation. Overseas institutional investors generally focus on the balance of returns and risks, so they are willing to give higher valuations to stocks with stable growth (such as food and beverages). The same situation has occurred in A shares in recent years.

As for the flow of funds, I believe that the inflow of funds into A-shares will be a long-term structural growth, because the proportion of China’s A-shares in global asset allocation is still seriously low. If you look at the current A shares, they actually only account for less than 5% of the MSCI index. Eventually, if the A shares are fully included, the proportion will be more than four or five times the current amount. Therefore, overseas investors are very clear about this. Whenever A shares fall severely, they will seize the opportunity. The stable growth sector of liquor must be given priority.

Hou Hao, manager of China Merchants China Securities Liquor Fund, said, The problem with high valuations is that any disturbance will bring changes in marginal funds, which will lead to follow-up of trend funds. This is the situation in which disturbances occur after the holiday, and the volatility caused by the follow-up of marginal funds and trend funds increases. From the perspective of the next 3-5 year cycle, this year is the starting point for many companies in the liquor industry in the 14th Five-Year Plan period. I learned at the rum party that the future development pattern and trend of the entire industry will be better. The future space looks at prices first, and prices change with changes in the level of economic development and per capita income. In terms of volume, some high-end and sub-high-end brands, especially sauce wine and companies with base wine reserves, will see obvious marginal changes in the next five years. Another major change factor, which has been discussed a lot, is the change in the price band of overtaking in the corner that may be brought about by the change in opinion leaders’ views. This point is actually hard to ignore.

U.S. stocks hit a new high

Dow rose to 34,000 points for the first time

A-share stockholders cried with envy, and US stocks hit a new high tonight.

On the 15th, US time, driven by positive economic data and earnings reports, the three major U.S. stock indexes opened higher. For the first time in history, the Dow broke through the 34,000-point mark.

The US Department of Commerce reported that US retail sales in March increased by 9.8% month-on-month, a new high since May last year, far exceeding expectations of 5.9%. According to data from the US Department of Labor, the number of people applying for unemployment benefits for the first time last week fell from 744,000 in the previous week to 576,000, a record low since the week of March 14 last year. It was better than market expectations and both helped US stocks rise.

The three major European stock markets opened higher and the European Stoxx 600 index hit a record high

On the other hand, European stock markets opened higher due to a series of March inflation data released by major European economies. As of 10:11 pm on the 15th, Beijing time, the London FTSE 100 index rose 0.68%, the Frankfurt DAX index rose 0.26%, and the Paris CAC40 index rose 0.35%.

The Pan-European Stoxx 600 Index hit a high of 438.29 points, which is more than 55% higher than the low on March 18 last year. Analysts said that because European stocks are still at a low level compared with US stocks, there is still room for further gains in European stocks. JPMorgan Chase analysis indicated that the pan-European Stoxx 600 index is expected to rise 3% this year. Bank of America analysts expect the index to rise by 7% by the end of this summer.

Just now, the National Big Fund reduced its holdings of SMIC by 100 million shares!Biden imposes new sanctions on Russia

Seek to go public one after another

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

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

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

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

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

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

The “past and present” of the two

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

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

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

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

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

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

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

Who is more favored by the capital market

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

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

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

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

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

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

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

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

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

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

“Sorry, I don’t play Pinduoduo.”

“That’s even better. New users cut a lot, go to the next one, and it can be done in one minute.”

…

Similar conversations are frequently staged in the WeChat dialog box, which makes people feel tired. It seems that everyone can not escape the “bargaining shadow” of Pinduoduo. Pinduoduo, which “swept the market outside the Fifth Ring Road”, relied on extremely low-cost product strategies and social fission gameplay. It only took three years to catch up with Jingdong, which has been in business for 20 years in annual sales and market value, and successfully entered the United States. Starck goes public.

It is also the taste of the social fission spreading method based on bargaining that makes Pinduoduo even more unscrupulous. With the exponential increase in the number of Pinduoduo users, in order to expand new users, its bargaining methods are becoming more and more routine. This result directly caused the public to complain about Pinduoduo’s routines. So, have you ever been fooled by Pinduoduo’s routines?

The facts are in front of us, bargaining is a routine

Pinduoduo’s bargaining is mainly divided into two types-getting free in kind and getting cash every day. The process is basically the same: A sees the goods that can be obtained for free or the cash that can be received in the station, and the progress bar shows more than 99% after a meal. If you want to bargain again, you need to invite friends to help on WeChat. At this time, A sends the bargaining link to several or even dozens of people such as B, C, D, E, etc. for help. After other people helped to bargain, they found that they could take advantage of it, so they also joined the ranks of bargaining for free. Such a fission form naturally makes Pinduoduo more and more users.

But the reality is that today’s Pinduoduo just wants to fission, but does not give the corresponding “carrots.” For example, a certain self-media person conducted an experiment and invited more than 500 friends to help him with a knife. However, more than 500 chances of lottery draws have never been able to cut the final cut. There is a blogger who does not believe in evil on the Internet. He said that he was really successful. He mobilized more than 7,000 fans and got a game console at bargain. But how can a normal person have 7,000 friends? The so-called free cash collection and withdrawal are just plain words.

Netizens who have good deeds also summed up the essence of the routine: when you are still short of a penny withdrawing, the penny is divided into 10 1 cents. When you have worked so hard to collect 9% of the money, and the last 1% of the money is missing, the withdrawal rules have changed again:

Tell you to pull a person to give you 1 gold coin, collect 10 gold coins to withdraw. When you wear out your mouth and collect 9 gold coins, it splits 1 gold coin into 10 pieces of 0.1 gold coins… After entering an infinite loop, you give up on your own initiative, so it won’t work anymore. It.

Facts speak louder than words, and Pinduoduo’s bargaining is indeed just a routine.

Pinduoduo is a bit too much behind the psychology of the prospect

Why do people know that Pinduoduo’s bargaining is a routine, and people still enjoy it? According to the simplest principle, Pinduoduo makes full use of the free “magic”. In the marketing activities of Pinduoduo, the word “free” has always occupied the C position, because this is the copywriting that attracts the most attention. In order to “have a chance to get it for free”, people are naturally attracted and greatly increase Pinduoduo’s click conversion rate.

From another point of view, Pinduoduo’s bargaining also has obvious “fanning” characteristics. In the book “Game Changes the World”, the author puts forward the four elements of the game: goals, rules, feedback, and voluntary participation. And Pinduoduo’s bargaining routine is similar. In addition to voluntary participation, Pinduoduo’s bargaining target is very clear. Because the progress bar for bargaining activities starts directly from 99% or higher, making people feel that the goal can be easily achieved. The rules are naturally very clear-the more people you invite to bargain, the closer you are to free money.

In terms of feedback mechanism, there are more routines. A very simple example is that every time people invite someone to help bargain, the progress bar goes a little bit. And with the help of words such as “just bad” and “about to be cut”, people are even more stimulating to invite users. It is worth noting that there is a time limit for bargaining, which makes it extremely urgent to invite users. After all, if you don’t continue to invite, the previous efforts will be in vain, and you can only continue to invite.

It can be seen that Pinduoduo accurately captures the user’s psychology. But it seemed a bit too much to only grasp the psychology without giving the corresponding reward.

Pinduoduo urgently needs change under much criticism

Pinduoduo’s bargaining routines have been criticized and even aroused public outrage. For example, Shanghai lawyer Liu Yuhang took Pinduoduo to court after he caught the routine. He believes that when Pinduoduo provides network services, it is suspected of violating the principle of good faith, using false data, concealing rules, and taking advantage of human weakness to allow consumers to complete various tasks set by Pinduoduo and purchase paid services, only to increase the activity of its APP. Statistics and income have constituted fraud and seriously affected the social atmosphere.

In addition, you can see the complaints of a large number of netizens by simply searching the online bargaining activities of Pinduoduo. It can be said that the practice of Pinduoduo has become less and less attractive. If Pinduoduo still uses such a routine to pull new ones, it will only make its own path narrower and narrower. For this reason, Pinduoduo urgently needs to change and find a real balance between bargaining and people’s interests. (New Discovery of Science and Technology Constantine/Text)

As it turns out, the act of killing a spider is not only a “bad omen” but also harms the home ecosystem. Even the cleanest houses have inhabited spiders. In the journal The Conversation, entomologist Matt Bertone and colleagues at North Carolina State University in the United States published a study of 50 homes in North Carolina and in each home they found spiders. According to Bertone, arachnids are important members of the inner human ecosystem. They are “omnivorous” predators and eat almost anything they catch: from a fly trapped in a window to a mosquito trying to suck human blood. Sometimes, the spiders eat their own kind. A house spider is watching for flies Many of the “victims” of spiders are potential vectors of disease. There is even a species of jumping spider in Africa that only likes to eat blood-sucking insects in the house. So when you kill a spider by hand, you accidentally “kill” a “soldier” to destroy the pathogen in your home. The indoor spiders are not the venomous monster spiders in Australia that we still see in newspapers. During his research, Bertone often found only common indoor spiders like Pholcidae * and the most harmless arthropods of the family Theridiidae **. Both of these spiders spread silk where they live. Spiders Pholcidae sometimes leave their webs to hunt and eat other spiders around. I don’t want to see this scene in my house at all, what about you guys? The truth is that most spiders are poisonous, but the venom of most of them is not strong enough to harm humans. The spider’s fangs are also often too weak to bite through the skin. Hollywood movies have sprinkled us in the head with spiders attacking us while we are off guard. However, in contrast to these movie “myths”, the spiders almost never crawl past a sleeping person. The act of snoring, puffing, or even ordinary human breathing is enough to scare away the vertebrates in the home. Furthermore, spiders are afraid of humans and always try to avoid us. We are far more dangerous to them than they are to us. Cases of spider bites are extremely rare. The scene is haunting for many people Although there are some highly toxic species like the Black Widow, they very rarely bite humans and even so, these bites rarely cause serious medical disorders. If you have phobia or simply don’t want to see spiders crawling around where you live, follow the scientists’ recommendations: instead of killing arthropods, catch them in one. box and drop off the road. The spiders themselves will find a new place and we do not have to carry the “killing” karma. *: Pholcidae are arachnids in the arachnid family of the suborder Araneomorphae. They have a body length of 2–10 mm and their legs can be up to 50 mm long. They can be found on every continent in the world except Antarctica. They weave a messy, irregular mesh. Spider webs are woven in wet and dark areas, in caves and under rocks, and abandoned animal caves. Do these spiders look familiar? Spider webs do not have cohesive properties, but their unusual insect trap structure makes it difficult for prey to escape. Spiders quickly cover their prey with spider webs and then inflict a poisonous bite to kill the prey. The prey can be eaten or stored immediately thereafter. **: Theridiidae is a family of arachnids of the order Araneae. This family has 109 genera, a total of 2295 species. The spider Theridiidae is usually reclusive, almost harmless and extremely gentle.

Indianapolis Star Daily quoted a police source announced at 23:30 on April 15 (US time), or around noon April 16 (in Vietnam time), saying many victims were discovered. FedEx international carrier office at 8951 Mirabel Rd, Indianapolis City, Indiana, USA.

Where the shooting took place

Indianapolis Police Department spokesman Genae Cook said police were at the scene at 23:00 on April 15 (local time) after receiving reports of many gunshots. They described it as a shooting and “had many victims with bullet-like injuries”.

Currently, this country’s security forces have surrounded and sealed off this entire area.

The scene outside the office of international shipping company FedEx in Indianapolis, after the incident. Photo: Indystar

According to the latest information from the police, the number of victims injured in the shooting is unknown, but many people have been taken to hospitals in the area; and the suspect who committed the incident committed suicide. The engine of the shootings is still unknown.

A Fedex spokesperson also confirmed that the company was at the scene of the attack, and pledged to coordinate to assist in the investigation with authorities.

A woman asked law enforcement at the scene to find a loved one inside the FedEx office. Photo: Indystar

Family and friends of the victim wait for news after the shooting. Photo: Indystar

This is the latest shooting to take place in America. At the end of March 2021, a shooting in an office building in Southern California claimed the lives of four people, including a child. On March 22, 10 people were killed in the shooting at a vegetable shop in the city of Boulder, Colorado.

Each year, the US records nearly 40,000 people killed in gun-related cases, and more than half of them are suicidal.

The pace of reduction and cash out of the National Large Fund seems to be increasingly anxious.

This time, the target of the big fund reduction is SMIC, the chip leader with a market value of over 280 billion. On the evening of April 15, according to the latest data disclosed by the Hong Kong Stock Exchange, the National Integrated Circuit Industry Investment Fund (“Big Fund”) reduced its holdings of 100 million SMIC Hong Kong stocks on April 9 and 12. The proportion dropped from 9.62% to 8.93%.

Prior to this, the big funds have successively reduced their holdings of Jingfang Technology and Zhaoyi Innovation. In addition, Anji Technology, Beidou Xingtong, Changchuan Technology, Taiji Industry, and Changjiang Electronics Technology have all been in the reduction plan of the big funds.

In the past, China’s chip industry’s largest gold owner has now become one of the main “short” forces, which may be related to the investment rhythm of the national fund. It is reported that from 2019 to 2024 is the payback period of the first phase of the National Fund, so the large fund’s reduction and exit of chip stocks will continue with a high probability.

At present, large funds still hold SMIC, Anji Technology, Zhaoyi Innovation, Jingfang Technology, Changjiang Electronics Technology, Sanan Optoelectronics, Changchuan Technology, North China Huachuang, Tongfu Microelectronics, Ninestar, Taiji Industrial, 23 A-share companies including Goodix Technology, Guokewei, Jingjiawei, Chipengwei, China Resources Micro, Rockchip, Shanghai Silicon Industry, Saiwei Electronics, Jacques Technology, VeriSilicon, Beidouxingtong, Wanye Enterprise, etc. .

280 billion chip giant is underweight by big funds

It should come, it will come. But what surprised the market a little is that this time the big fund selling target was SMIC.

On the evening of April 15, the Hong Kong Stock Exchange disclosed two data on shareholding reductions, which aroused market attention.

On April 9, the National Integrated Circuit Industry Fund reduced its holdings of SMIC’s H shares, with an average price of HK$26.15, involving 45 million shares, and its shareholding ratio dropped from 10.19% to 9.62%;

On April 12, the big fund made another move, reducing its holdings of SMIC’s H shares by 55 million, with an average price of 25.56 Hong Kong dollars, and its shareholding ratio dropped from 9.62% to 8.93%.

Based on the average price and quantity of the reduction, the accumulated cash amount of the two major fund reductions reached HK$2.583 billion.

It is worth mentioning that under the sell-off of big funds, SMIC’s stock price was under pressure on April 9th ​​and April 12th, and it closed in the green market for 2 consecutive trading days. Among them, the decline on April 12th was even greater. Close to 4%.

As of the close of April 15, the total market value of SMIC was approximately HK$286.97 billion, of which the A stock market was valued at HK$131.68 billion and the Hong Kong stock market was valued at HK$155.29 billion.

As the largest and most complete chip manufacturer in Mainland China, SMIC was once known as the “Hope of the Village” under the interference of the United States. So why did the big funds suddenly reduce their holdings?

First look at the performance level. On March 31, 2021, SMIC disclosed its 2020 annual report. According to the performance report, SMIC’s 2020 revenue was 26.97 billion, a year-on-year increase of 25.4%; the net profit attributable to the company reached 4.69 billion yuan, a year-on-year increase of 204.9%, and the gross profit margin increased from 20.6% in the previous year to 23.6. %.

This is a transcript that satisfies the market. SMIC’s H-share share price rose nearly 5% the next day. From this point of view, the reason for the reduction of large funds is not because SMIC’s operating level has changed. In fact, SMIC’s operating environment in 2021 will be much better than in 2020.

At present, the chip industry is in a very tight state: shortage of production capacity and rising prices have become the “main theme” of the global chip industry. At the same time, the trend of the global semiconductor industry shifting to China continues. Under the superposition of the two, the production capacity of China’s semiconductor industry chain is tight.

On April 15th, TSMC CEO Wei Zhejia stated on a conference call that the company’s customers are currently experiencing capacity shortages across the entire industry. The global chip shortage may continue at least until the end of this year, or even 2022.

China Galaxy Securities believes that at present, the world is facing a shortage of semiconductors. The domestic supply chain has advantages in the recovery of the supply chain due to better epidemic control. The semiconductor industry is booming. In 2021, the semiconductor industry will continue to maintain rapid growth under the dual logic of technological innovation and upgrading and domestic substitution. .

In this view, the reduction of SMIC by the National Large Fund may be due to its own funding arrangements and investment cycle considerations.

The real reason for the reduction of large funds

In fact, the reduction of chip stocks held by large funds is not new in the capital market. In the past year, the first phase of large funds has respectively completed the reduction of 1% of Jingfang Technology and 2% of Zhaoyi Innovation.

Entering 2021, the steps of large funds to reduce their holdings and cash out seem to be increasingly anxious. On January 23, it disclosed the shareholding reduction plan of Jingfang Technology, Zhaoyi Innovation and Anji Technology in one breath, and the reduction ratios did not exceed 2%. Among them, Zhaoyi Innovation and Jingfang Technology have been reduced in some stocks. ; On April 7, it re-announced its 10.154,600 share reduction plan for Big Dipper; on April 13, another member of the big fund’s reduction list was added: Changchuan Technology, which also reduced its holdings by 2%.

In this way, the reduction of large funds is not aimed at a certain chip company, but systematically and comprehensively reduce holdings and withdraw funds.

This may be related to the investment rhythm of the National Large Fund. It is reported that the first phase of the large fund has invested in the chip industry for more than 5 years. According to the previous investment plan, 2019-2024 is the investment payback period of the first phase of the national large fund. Therefore, the large fund’s reduction and exit of chip stocks are still probable. will continue.

At present, large funds still hold SMIC, Anji Technology, Zhaoyi Innovation, Jingfang Technology, Changjiang Electronics Technology, Sanan Optoelectronics, Changchuan Technology, North China Huachuang, Tongfu Microelectronics, Ninestar, Taiji Industrial, 23 A-share companies including Goodix Technology, Guokewei, Jingjiawei, Chipengwei, China Resources Micro, Rockchip, Shanghai Silicon Industry, Saiwei Electronics, Jacques Technology, VeriSilicon, Beidouxingtong, Wanye Enterprise, etc. .

An industry insider once told a brokerage China reporter that since the establishment of the first phase of the National Fund, it has made huge profits by investing in listed companies in the semiconductor industry. Will not have a major impact.

Xu Tao, chief analyst of the electronics group of CITIC Securities, previously stated that when the first phase of the large fund enters the payback period, the second phase will take over the investment, but the second phase will not directly take over the first phase. Leading companies in various fields of integrated circuits will continue to be the key investment targets of the second phase, and the manufacturing sector will still account for the largest proportion.

The second phase of the big fund has invested 22.1 billion, and bet on SMIC

Large funds reduced their holdings and exited in the first phase, but the investment in the Chinese chip industry in the second phase of the large funds is increasing, and SMIC has become the key investment target of the second phase of the large funds.

In May 2020, the second phase of the National Grand Fund and the second phase of the Shanghai Integrated Circuit Fund injected US$1.5 billion and US$750 million into SMIC’s subsidiary SMIC. Calculated at the exchange rate at the time, the capital injection was equivalent to RMB 10.6 billion and RMB 5.3 billion respectively;

In July 2020, SMIC went public on the Science and Technology Innovation Board. The second phase of the Big Fund invested 3.5 billion yuan to participate in its strategic placement, and was allocated 127 million shares, with a shareholding ratio of 1.65%;

In December 2020, the second phase of the Big Fund once again entered SMIC’s new Beijing project-SMIC Beijing Integrated Circuit Manufacturing (Beijing) Co., Ltd., which produces 12-inch integrated circuit wafers and integrated circuit packaging series, with a total investment of 7.6 billion US dollars. Among them, SMIC’s investment accounted for 51%, the second phase of the large fund invested US$1.2245 billion, and the investment accounted for 24.49%.

The total amount of these three investments alone is as high as 22.12 billion yuan, which is higher than the total amount of cash in the first phase of large funds in recent years. At present, the second phase of the Big Fund has invested in 9 companies, of which SMIC, SMIC Southern, and SMIC Capital occupy 3 seats. This shows that the second phase of the Big Fund attaches importance and support to SMIC.

According to data, the registered capital of the second phase of the Big Fund is as high as 204.15 billion yuan, and there are 27 shareholders, including the Ministry of Finance, China Development Bank Finance, China Tobacco and other state agencies, as well as national funds, as well as local government background funds, central enterprise funds, Private enterprise funds, etc., will continue to invest in China’s semiconductor industry under the responsibility of the first phase.

When shopping for grapes, you should choose large grapes, large and succulent grapes. Or, you can choose clusters with sparse and few fruit. If the grape still has chalk clinging to the outside of the skin, the bunch of grapes is still fresh and delicious.

Illustration.

Appearance: Choose soft grapes, stretched skin without bruising. Do not choose waxy grapes with a strange odor or grapes with irregular, speckled skin

Fruit stalks: Choose grapes that are fresh and soft that won’t dry out.

Color: For green grapes, choose fruit with a cool, smooth, dark green skin. Black grapes choose fruit with purple black or light yellow skin.

For raisins

You choose grapes based on 4 criteria: Round seeds; dried; has bright colors and tastes good.

• Round seeds

Grapes have large, soft seeds, do not choose too flat fruits.

• About the dryness

To check if grapes have a guaranteed dryness, you can check by picking up a small handful of grapes and then holding it again. When you release your hand, if the grape leaves, it will be a delicious grape. In contrast, the grapes stick to the clusters of wet, poor quality grapes.

• Bright colors

Choose raisins made from green grapes when eaten, will be crunchy and have a beautiful, more attractive color. – About the taste

This factor is quite easy, you can taste, delicious raisins are grapes with sweet taste, characteristic aroma, no sour taste or strange smell. If the grapes are dark, the fruit is weak, when the fruit feels like it is not dry, it is a poor quality grape.

According to the National Meteorological Agency, at present, the trend of temperature is gradually turning to a neutral state. With this development, the hurricane season this year is expected to come more wanted than every year, but need to be careful of strong storms; the rainy season can come early with extreme phenomena; risk occurs drought and local water shortage in Central and Central Highlands.

More information with VietnamPlus Electronic Newspaper reporter on the afternoon of April 15, Mr. Nguyen Van Huong, Head of Climate Forecast Department, National Hydrometeorological Forecast Center, said that from now until about May, it is unlikely to export storms and tropical depressions in the South China Sea. However, in the following months, storms and tropical depressions will begin to operate and increase in frequency, lasting until the end of 2021.

Specifically, in the period from June to July, storms and tropical depressions are likely to begin operating in the North East Sea and gradually increase the frequency, likely to affect the Northern region. and North Central region from August to September; affect provinces in Central and South Central from September to the end of this year.

“It is forecasted that this year there will be about 10-13 storms operating in the South China Sea, of which about half will affect the mainland. In which, strong storms will occur from September to October, “Huong said.

Also according to Mr. Huong, normally in the first half of the season (from June to September), tropical low pressure will concentrate in the North and the South China Sea, potentially affecting the North and North Central regions. ; in the second half of the season (from September to November), it will focus on the Middle and South East Sea, affecting the North Central Coast and returning to the South.

With the storm trend mentioned above, localities need to be careful of strong storms with complicated movements and cause strong winds at sea in months. stormy rainy season year 2021.

Regarding the trend of the rainy season, Mr. Huong said that this year’s rainy season is likely to come early in the Central Highlands and the South, from about the second half of April to the first half of May, thunderstorms and whirlwinds may occur. , hail, strong wind. In the last 6 months of 2021, rainfall tends to increase nationwide.

Illustration. (Source: VNA)

During the dry season months, the flow volume on most of the common rivers is approximately 15-40% lower than the average of many years in the same period, some rivers are 50% lower. Risk of drought and local water shortage in Central and Central Highlands.

In the flood season in 2021, the annual flood peak on the main rivers in the North, North Central region and Central Highlands is usually around 1-2 and above fluctuation 2; rivers in Yen Bai and Ninh Binh, from Quang Binh to Binh Thuan fluctuate 2-3, some rivers fluctuate 3.

The annual flood peak in the watershed of the Mekong River on Tien River in Tan Chau and Hau River in Chau Doc fluctuates 1-2, lower than the average flood peak of many years from 0.1-0.3m. In the dry season 2020-2021, salinity intrusion in the Mekong River Delta is at a high level but not as serious as the dry season in 2019-2020. Since May, saline intrusion in the Mekong Delta tends to decrease gradually.

The period of moderate and large floods in the North is likely to concentrate more in the second half of the flood season. On small rivers and streams, in the upstream areas, big floods, flash floods, and landslides are likely to occur; Inundation in cities and urban areas continues to be at risk from local heavy rains in the flood season months.

Before the weather trend mentioned above, the representative of Forecast Center Hydrometeorology The country said that the Ministry of Natural Resources and Environment will continue to direct hydro-meteorological forecasting and warning units, continuously monitoring, monitoring and updating daily on the website of the Ministry of Natural Resources. and Environment, General Department of Meteorology and Hydrology, soon provide detailed forecast information and warnings to functional agencies, media agencies and the people to prevent and avoid ../.

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Alibaba was fined $ 2.8 billion for alleged monopoly.

JD.com, Meituan and ByteDance lead China’s first group of Big Tech companies to commit to complying with the law after China Market Surveillance Agency (SAMR) asked them to “learn lessons” from Alibaba. Group Holding in Beijing’s latest antitrust investigation.

On April 14, 12 out of 34 tech companies released a public statement pledging to do business in compliance with the law after SAMR warned of Alibaba’s recent antitrust sanctions and conducted self-testing. next month.

Earlier, e-commerce giant Alibaba was fined a record $ 2.8 billion for forcing small businesses to sell exclusive products on the platform. Monopolistic behavior is understood as how businesses eliminate competition of competitors by forcing customers to choose “one of two”.

JD.com has made eight promises including “never taking measures to force sellers to choose either and never abusing a dominant market position or making any exclusive deals. “. The e-commerce group also said it will “never publish illegal advertisements and never sell products of substandard quality”.

Meituan’s delivery staff.

Meituan promised not to impose unreasonable measures forcing sellers to “choose one of the two” and would not abuse its market position to limit competition. In addition, the company is committed to providing full support to the Chinese regulatory authorities. “Once we find evidence of illegal conduct, we will report it to regulators in a timely manner and readily cooperate with any investigation,” Meituan said.

ByteDance, the owners of short video apps TikTok and Douyin, made 13 promises in its public statement. China’s most valuable unicorn company says it will “not illegally collect and misuse user data” and adhere to “minimum guidelines” in collecting data from users. E-commerce platform Pinduoduo said it will “proactively assume more social responsibility”, as well as comply with legal and regulatory requirements.

The rest of the companies are expected to announce their public commitment over the next two days

Beijing’s targeting of key Big Tech firms including Kuaishou, Bilibili and Didi Chuxing comes at a time when the Chinese government is resolutely using antitrust laws and other regulatory methods to halt. out-of-control expansion.

SAMR has accused major tech companies of misconduct such as forcing sellers to choose only one trading platform, abuse of market dominance, abuse of big data to unfair pricing. for certain customers, ignoring poor quality products, leaking customer data, and tax evasion.

“No one is allowed to cross the regulatory lines and not touch the legal red line,” SAMR said on Tuesday.

34 Internet service providers are on the spot, many of which are listed on US and Hong Kong exchanges. Companies were asked to “raise responsibility and give priority to the national interests”.

“Companies must absolutely avoid disordered capital expansion to ensure China’s economic and social security, you must absolutely avoid monopolies to ensure fair competition,” according to Beijing’s statement towards Internet service platforms.

SAMR says companies have one month to do a “self-check and self-repair”, after which the government will conduct follow-up and “severely punish” those companies that fail to address the misconduct.