Auction at Sotheby’s www source code will be auctioned

Status: 23.06.2021 12:35 p.m.

It is basically the founding document of the World Wide Web: 9550 lines of programming code. Now the original files of the inventor Tim Berners-Lee come under the hammer.

From Peter Mücke, ARD Studio New York

“This changed everything” is what Sotheby’s calls the auction quite immodestly. Which, for once, shouldn’t be an exaggeration – because who would deny that the World Wide Web has actually changed almost everything. Even if its inventor Tim Berners-Lee was probably not aware of this when he presented his proposal for a system for the exchange of information on March 12, 1989.

It started at CERN

At that time, the British computer scientist was working at the European nuclear research center CERN and had the problem that parts of the laboratories are located on Swiss territory and other parts on French territory. Because the two countries had different network infrastructures, he developed a system that was supposed to facilitate the exchange of information across borders. This original programming code comprises 9550 lines and has since dictated the basic structures of the Internet: the page description language HTML and the transfer protocol HTTP and the identifier URI. A revolution – not just for the scientific world for which the project was actually intended.

Invented the Internet code: the British computer scientist Tim Berners-Lee. Image: picture alliance / dpa

Digital collector’s item

Even if the code has long been “open source” – that is, freely accessible to everyone – it is now going under the hammer: the original files, provided with a time stamp and a signature from Berners-Lee, together with a digital poster that visualizes the source code and a letter from the scientist from 1989 in which he describes his project. Everything is conveniently packed in a so-called NFT – a “non-fungible token”. This is a kind of digital certificate of authenticity that is stored on a so-called blockchain. It should prove that the virtual object is unique – even if any number of digital copies can exist. The collector’s item of the digital age, so to speak.

Minimum bid $ 1000

As a computer scientist, it is only logical to auction his invention as such an NFT, says Berners-Lee. It feels right to put your signature under an all-digital artifact. The online auction lasts a week and starts with a minimum bid of $ 1000. The proceeds will go to a foundation.

After the auction houses had long blocked the auctioning of such NFTs, they have been doing this for some time good sales with digital art . Most recently, the auction of works by crypto artist Pak at Sotheby’s raised $ 17 million. At Christie’s, an NFT of a collage by digital artist Beeple changed hands for just under $ 70 million

Missing computer chips Short-time work at VW and Daimler

Status: 16.06.2021 10:23 a.m.

Time and again, the production lines in car plants stand still – the manufacturers refer to the industry-wide shortage of chips. Now it hits Volkswagen and Daimler again. When will the situation improve? From Angela Göpfert, tagesschau.de There will be stoppages in the coming week at the VW main plant. In the Tiguan, Touran and Tarraco production as well as in the Golf production in the late and night shifts, the Wolfsburg switch to short-time work. In the Daimler plants in Bremen and Rastatt, short-time work is already the order of the day. The reason is once again the industry-wide shortage of chips.

06/08/2021

Interruptions cost billions

It is nowhere near the first time that the shortage of semiconductors has slowed automakers’ production. It was not until the end of May that the VW luxury subsidiary Audi at the Ingolstadt and Neckarsulm locations suffered production interruptions. BMW had been hit a few weeks earlier. The Ford plant in Cologne is also affected. The German auto industry is not alone with its problems: The US auto giant Ford calculates charges of around 2.5 billion dollars this year due to the lack of chips. The problems in the automotive industry have consequences for the entire economy. Just today, the researchers at the Munich Ifo Institute lowered their forecast for the growth of the German gross domestic product this year from 3.7 to 3.3 percent. To justify this, they also referred to bottlenecks in the delivery of intermediate products such as semiconductors.

Improvement in the third quarter?

It could take a few more weeks for a change for the better. According to experts, the automotive industry is heading for the lowest point. “We are facing the toughest six weeks,” said Murat Aksel, VW Board Member for Purchasing, recently in an interview with the “Handelsblatt”. The situation should improve again in the third quarter. Competitor Daimler also expects an improvement in the second half of the year. The Boston Consulting Group (BCG) also estimates that the situation should ease from July.

Around four million cars less

Because of the lack of chips, automakers worldwide produced 1.4 million fewer cars in the first quarter and 1.6 million in the second quarter, the BCG experts calculate. For the entire year 2021, the failures are likely to amount to four to six million vehicles.

05/04/2021

The consulting firm Alix Partners in Munich estimates 3.9 million cars. This corresponds to a value of non-produced cars of around 91 billion euros.

Lessons from the shortage of chips

The car manufacturers have long since learned their lessons from the shortage of chips: They are carefully reviewing their supply chains and are not only expanding their warehousing for chips. After all, the supply chains have thinned out after a pandemic for more than a year, even for important intermediate products, for example in the chemical industry.

06/07/2021

Security of supply is suddenly a priority again after years of just-in-time delivery. Chip manufacturers are also taking strong countermeasures and are pushing ahead with expanding their capacities at full speed. In Germany, the new high-tech chip factory from Bosch ensure regional supplies.

Misjudgments as the cause

But how did it come to that? Where does this lack of chips come from, which is currently keeping the auto industry and its employees in suspense? With the outbreak of the corona pandemic, demand for cars collapsed and chip manufacturers cut their production plans.

05/31/2021

When the demand for new vehicles suddenly increased surprisingly in the summer of 2020, chip manufacturers such as Infineon or NXP were overwhelmed by the demand. The current chip shortage is therefore based on a whole series of misjudgments – on the part of car manufacturers and suppliers, but also on the part of chip manufacturers. The lack of chips also shows that the auto industry did not come through the Corona crisis as badly as feared.

But that is the effect that can be seen and felt after the renovation process, and before that, this was a 195m² penthouse, completely raw and located in the northwest towards the center of Ho Chi Minh City. How to create an impressive interior space mixed with natural architectural lines into the interior space is the topic that the design team received from the investor. “This is a very interesting and very difficult topic for us” – the design team from APS concept shared. “The apartment is designed with the idea of ​​creating a connection between nature and architecture, with two large glass facades allowing views of the surrounding area. A very remarkable highlight of the living room space is the wall made from black stone that runs high into the atrium, creating the feeling of being next to a majestic cliff. The second impression is the “epoxy metallic” floor that is applied in the apartment. Sharing more details on how to create this floor, the architects said that they started with an all-white epoxy floor, then added more black and silver metals to create a unique and rhythmic flow. “We like the way it flows naturally and flows from the first floor, along the steel stairs down to the entire living space like streams flowing along the cliffs. This special material is never duplicated.” Thus, the white marble effect epoxy floor treated with the emotions of the performers has become smooth and makes the space open and airy. In terms of color, black tone was chosen as the main color, clearly showing the elegance and personality. In harmony with this overall, the Hermès orange furniture creates accents, making the space more lively and eye-catching. The walls using black paint are roughened to bring the desired effects during the day when there is direct sunlight or create depth for the space under the lights at night. The curved stairs and the steps surface details are treated to feel like a flow from the stairs to the lower floor, full of nature inspiration. The old monotonous staircase was replaced with a new curved staircase, completely machined by sheet steel, from the steps to the handrail. This is an appropriate solution to help reduce the traffic to the first floor while creating a soft feeling for the space. Besides, the Hermès color tone is still the highlight for the space and the epoxy flow on the stairs is like a stream overflowing and spreading from above, spreading to the floor in the living room… Thus, the topic of the investor fully resolved – the apartment is an impressive living space that blends natural lines into the interior space. Children’s room with outside view and close-up. The toilet blocks of the apartment. Project location: One Verandah, Thu Duc City, HCMC Design and construction: APS Concept Design team: Hung Vo, Nguyen Chi Tam, Trinh Phoi, Truong Van Tam, Tran Van Trong, Le Phuc Phu, Dao Van Hieu, Le Cam Duong, Dinh Quang Thinh Office address: 135/1/58 Nguyen Huu Canh, Ward 22, Binh Thanh District, HCMC Website: www.apsconcept.vn – Phone: 0932735246 Tin Nhi – Image Quang Tran

Hops are an indispensable ingredient in beer production – a wonderful drink that is loved by every country. However, few people know that hops are also used to eat with the most expensive prices in the world. The hops, scientifically known as humulus lupulus, are shaped like the tops of asparagus and are only for the rich to enjoy. In the past, when the beer industry was new, young shoots that did not bloom into flowers were considered waste. Over time, what used to be discarded has become the most expensive vegetable in the world with a price of more than 1,000 USD/kg. The reason why the price of hops shoots is so high is because of the scarcity of this plant. Hops sprout only once in the spring, between March and April. Moreover, the life time of hops shoots is not long. Just a short time after the hops sprout, the hops will quickly perish if not harvested. The expensiveness of hops buds also comes from the sophisticated harvesting process. Hops do not grow in rows, so harvesting must be done entirely by hand. The harvester must carefully find the buds growing in the foliage. They are so small that it takes thousands of hops to fill a bag Garden owners also have to depend on the weather to have a reasonable harvest schedule within 14 days of hops sprouting. They are quite picky about habitat, so they are usually grown only in England and Belgium. Having a shape and taste similar to asparagus when eaten raw, some people think that the hops buds, if eaten raw, are quite bitter, tasting like green beans, but when cooked, it has a very distinct flavor. After being harvested, most of the hops are used by luxury restaurants to cater to privileged diners. Hops shoots can be used for salads, noodles or baked… according to the preferences of the buyer. Sautéing garlic is also an option that many people who have eaten hops appreciate. For many chefs around the world, hops are considered a great ingredient to prepare the unique dishes that make them famous. Please watch the video: The strangest shaped trees in the world. Source: Happy and healthy every day

The apartment has an area of ​​125m2 with 3 bedrooms, designed to improve interior for families with 5 members (including 3 small children). Homeowners like modern style but not too simple. Therefore, the design team came up with the idea of ​​a contemporary style, combining the charming details of the Neoclassical inspiration for the apartment. The living room is treated with eye-catching lighting arches, opposite is the marble cliff, woven with the matte gold stainless steel pattern to create accents. Natural Italian marble is also used in combination with natural wood for flooring. Accordingly, in the continuous common space is the living room – the kitchen, the living room is paved with wood, and the kitchen is paved with stone. The dining area is accented by a set of chandeliers. The table top uses stone material. Most surfaces such as walls, desks, cabinets have vivid decorative details. The kitchen next to the dining room is designed quite simply for easy cleaning. The main gray-white color gives a clean, luxurious feel. The cabinet in the lobby area, next to the dining table, is decorated with an attractive lighting system. The main bedroom is renovated combining two original small bedrooms. The bedside wall is decorated with curling motifs. This is also the owner’s music corner with hi-end treble system. This hobby is invested a lot by homeowners to meet the needs of enjoying music. Sound absorption treatment solutions are also considered, wooden walls with moderate ribs, cabinets stylized from the image of sound waves, details of only matte gold stainless steel on the wall continue to be used, in tune with living space outside The remaining bedroom for 3 children. With the solution of uninterrupted bunk beds, the space is reasonably constructed and saves area. Children who are growing up should design in anticipation of their interests and psychology, not follow too childish ways and abuse colors. In the children’s bedroom a long desk to study. Above is the cabinet combined with the decorative lighting system. The logistic space outside the living room is a place to relax, watch the street./.

Produced｜Sohu Finance

Author｜Wu Ya

On April 15, Sunshine City Group (000671.SZ) released its 2020 annual report and held a 2020 annual performance briefing.

“Entering the profit-oriented development stage” became the signal released by Sunshine City at this performance meeting. “The low profit rate is not terrible, but the terrible thing is the loss.” Zhu Rongbin, Executive Chairman and President of Sunshine City, was at the performance meeting. Said so.

In 2020, the overall performance of Sunshine City increased significantly, with annual revenue of 82.2 billion yuan, a year-on-year increase of 34.60%; net profit attributable to the parent company was 5.2 billion, a year-on-year increase of 29.85%. However, the gross profit margin was 18.88% during the same period, a year-on-year decrease of 6.66%.

In 2020, Sunshine City will achieve full-caliber sales of 21.011 billion yuan, equity sales of 139.565 billion yuan, and equity accounted for 64.02%, reaching its annual sales target; in 2021, it will exceed 220 billion yuan in annual sales.

As of the end of 2020, Sunshine City’s debt-to-asset ratio of 79.1% after excluding advance accounts is still “stepping on the line”; Zhu Rongbin said that Sunshine City will continue to maintain its “yellow profile” in 2021.

“The most impressive highlight in 2020 is the company’s successful introduction of Taikang Life Insurance as a strategic shareholder.” After Shoukang became a strategic shareholder, Sunshine City also announced the “Two Five-Year Plans” for the first time under the “Ten Year Gambling Agreement”. The future development goals of the company.

Gross profit margin problem: low profits are not terrible, but the terrible loss is

In 2020, Sunshine City will achieve revenue of 82.171 billion yuan, a year-on-year increase of 34.60%. Among them, the construction industry segment revenue was 897 million yuan, a year-on-year increase of 193.56%; the real estate industry contributed 96.01% of revenue to 78.889 billion yuan, a year-on-year increase of 34.27%.

During the same period, Sunshine City achieved a double reduction in management expenses, marketing expenses and fee rates throughout the year. Among them, management expenses were 1.978 billion yuan, a year-on-year decrease of 9.58%, management fees were 2.41%, a year-on-year decrease of 1.18 percentage points; marketing expenses were 2.402 billion yuan, a year-on-year decrease of 6.49%; marketing expenses were 2.92%, a year-on-year decrease of 1.28 percentage points.

In 2020, Sunshine City realized a net profit of 5.22 billion yuan attributable to its parent, a year-on-year increase of 29.85%; deducting non-net profit of 5.191 billion yuan, a year-on-year increase of 32.52%.

Under the downward trend of the industry, the gross profit margin of Sunshine City in 2020 was 18.88%, a year-on-year decrease of 6.66%. Previously, from 2017 to 2019, this indicator was 18.73%, 20.48%, and 21.55%.

During the same period, Sunshine City’s net profit margin was 6.68%, a year-on-year decrease of 0.4%. Prior to 2017~2019, this indicator was 11.8%, 13.3%, and 12.19%, respectively.

Regarding this, Zhu Rongbin, executive chairman and president of Sunshine City Group, said frankly that in recent years, due to price restrictions and adjustments, the profit rate of the industry has indeed been declining. “Because our profit rate was not high in the past, we are still in a stable situation. “.

In his view, the real estate industry has bid farewell to the era of high dividends. After adapting to the regulation, the profit rate will remain stable after a period of decline.

He said that behind the expansion of the profit scale, it is important to ensure the realization of the safety of profits. “The low profit rate is not terrible, but the terrible thing is to generate losses.”

Insurance capital invested 94.2 billion in net profit of “10-year gambling”, and proposed two “five-year plans”

In fact, with Shoukang’s shareholding, under the “10-year gambling agreement”, for Sunshine City, “delivering on performance and profit growth promises” has become a top priority.

In 2020, the real estate market staged two “marriage” dramas between insurance funds and real estate companies. In the end, China Merchants Shekou failed to introduce Ping An, and Sunshine City successfully partnered with Taikang. At that time, Sunshine City introduced Taikang’s 3.4 billion war investment and signed a 10-year net profit gambling agreement of 94.2 billion.

Specifically, Sunshine City promises a “10-year commitment”: the total net profit attributable to the parent in the first 5 years will be no less than 34 billion yuan, and the cumulative net profit attributable to the parent in the next 5 years will reach 60.164 billion yuan, and the total net profit attributable to the parent in the 10 years Reached 94.223 billion yuan; and if the performance does not meet the target, Sunshine City must provide corresponding cash compensation to Taikang.

“The strongest highlight in 2020 is the successful introduction of Taikang Life Insurance as a strategic shareholder.” Zhu Rongbin said at the performance meeting that Taikang’s shareholding ratio exceeded 13%. At the same time, two directors were stationed to participate in the management of the company and optimize governance with modern company management concepts. The structure improves the management standard; on April 5, Taikang and Sunshine City also formally signed a strategic cooperation agreement to cooperate in various business sectors such as capital, project investment and property listing.

“Sunshine City has made a ten-year performance commitment. This will be a severe test for our operation and management.” He said that in accordance with the development goals, Sunshine City has formulated the company’s development plan for the next 10 years, namely two “five years”. Annual plan”.

Sohu Finance understands that in the planning of the first “Five-Year Plan” (2020 to the end of 2024), Sunshine City seeks “continuous and steady growth in profit scale” and “three red lines” all meet the standards, and “green smart home becomes IP “Achievement of other goals.

In the planning of the second “five-year plan” (2025 to the end of 2029), Sunshine City stated that it will open up a new track in real estate-related fields, have the ability to obtain stable income and sustainable development, and build a future-oriented, self-made blood. , An iterative sustainable development organization.

Sunshine City is a member of Fujian-based real estate companies. From 2016 to 2019, Sunshine City’s sales were 48.7 billion yuan, 91.5 billion yuan, 162.9 billion yuan, and 211 billion yuan, representing a year-on-year increase of 57%, 88%, 78%, 30%.

In terms of sales performance, in 2020, Sunshine City will achieve a full-caliber sales of 21.811 billion yuan. Although the annual sales target has been reached, the growth rate is only 3.3%; for the 2021 annual sales target, Sunshine City seeks “stability” and only sets it as “2200+” “If calculated at 220 billion yuan, this year’s sales growth rate is only 0.9% year-on-year.

The annual report shows that in 2020, Sunshine City will pay a total land price of 70.7 billion yuan for the whole year, of which the equity land price is 40.2 billion yuan, and the total supplementary equity land reserve is about 7.2596 million square meters; the total value of newly confirmed rights is 180 billion yuan, first- and second-tier goods The value accounted for about 70%, and the greater Fujian, the Yangtze River Delta, and the Pearl River Delta accounted for about 63%.

As of the end of 2020, Sunshine City’s accumulated land reserves totaled 42.519,700 square meters, a year-on-year increase of 3.7%. Among them, first- and second-tier cities are expected to account for 75.96% of the future saleable value.

“At the beginning of 2019, Sunshine City set a sales target of 200 billion yuan+. This is the cause of the epidemic on the one hand, and Sunshine City’s prediction of future development.” In Zhu Rongbin’s view, for real estate companies, the scale , Profit and financial indicators are the “impossible triangle” and it is impossible to take care of them all.

He said that in 2021, Sunshine City will strictly abide by the “three revenues and three expenditures”: investment, sales and replenishment based on sales; and to promote the “trillion-yuan reform” strategy. “In order to achieve this goal, Sunshine City has already completed the project at the beginning of this year. The organization of the marketing area is sinking, bringing the marketing command closer to the front line.”

Talking about the “Three Red Lines”: “Keep in the Yellow File in 2021”

In just four years, the sales of Sunshine City went from 30 billion yuan to 200 billion yuan, and the financial indicators once deteriorated. From 2016 to 2019, the debt-to-asset ratio of Sunshine City was above 83%; the net debt ratio was 259.93%, 252.25%, 182.22%, and 138.2%, respectively.

With the cash generated by sales growth and the deleveraging and structural adjustment since 2017, Sunshine City has achieved the “three red lines” from the “orange level” to the “yellow level” six months in advance.

In 2020, Sunshine City’s total assets were 352.301 billion yuan, a year-on-year increase of 14.55%; the net assets attributable to shareholders of listed companies was 306.93%, a year-on-year increase of 14.76%.

In the same period, the scale of Sunshine City’s interest-bearing liabilities was 106.039 billion yuan, a year-on-year decrease of 5.59%. Among them, the scale of short-term interest-bearing debt was 32.524 billion yuan, down 3.06% year-on-year; non-bank financing accounted for 24.94% compared to the end of last year, and continued to drop to 20.34%.

As of the end of 2020, Sunshine City’s asset-liability ratio was 83.18%, a year-on-year decrease of 0.25 percentage points; the interest-bearing asset-liability ratio reached 30.10%, a year-on-year decrease of 6.41 percentage points; the net debt ratio was 94.90%, a year-on-year decrease of 43.04 percentage points.

At the end of the period, Sunshine City’s book currency funds were 49.805 billion yuan, which could fully cover short-term interest-bearing liabilities of 32.524 billion yuan, and the cash short-term debt ratio was 1.53 (after deducting restricted funds of 9.290 billion yuan and pre-sale supervision funds of 6.021 billion yuan, cash short-term debts) The ratio is 1.06).

However, as of the end of 2020, Sunshine City’s debt-to-asset ratio after excluding advance accounts was 79.1%, a year-on-year increase that still did not meet the regulatory requirements, a year-on-year increase of 1.5 percentage points.

The annual report shows that in 2020, Sunshine City’s advance receipts are 68.94 billion yuan, a year-on-year decrease of 13.94% from the 80.11 billion yuan in 2019.

In this regard, Zhu Rongbin said, “It is possible to stay in the yellow file for a long time in the future, and it is indeed a bit difficult to strive for the first five years to achieve full compliance with the “three red lines”.

New track expansion: spin off property listings and force Mengxiangjia

At the performance meeting, Sunshine City revealed that it will expand in new tracks in 201. On the same day, Sunshine City disclosed the plan to spin-off its subsidiary, Shanghai Sunshine Zhibo Life Service Group Co., Ltd. (hereinafter referred to as “Sunshine Zhibo”) to list overseas (Hong Kong Stock Exchange).

According to the announcement, Sunshine Zhibo was established in July 2020. As of the announcement date, Sunshine City and its wholly-owned subsidiary Fujian Sunshine Real Estate Development Co., Ltd. hold 72.39% of its shares (including the direct shareholding ratio of Sunshine City). 71.68%).

In 2020, Sunshine Zhibo will achieve operating income of 1.371 billion yuan, a total profit of 226 million yuan, and a net profit of 173 million yuan, of which the net profit attributable to the owners of the parent company is 173 million yuan.

As of the end of 2020, Sunshine Zhibo’s consolidated total assets are 1.437 billion yuan, total liabilities are 814 million yuan, and net assets are 624 million yuan. Among them, the owner’s equity attributable to the parent company is 624 million yuan.

“After the independent listing of Sunshine Zhibo, it will not have any material adverse impact on the continuous operation of the company’s other business segments, and will not affect the company’s independent listing status.” Sunshine City said in the announcement that Sunshine Zhibo will continue to be listed overseas. Maintain a controlling interest in Sunshine Zhibo; after Sunshine Zhibo is listed overseas, it will help to enhance Sunshine Zhibo’s own market competitiveness.

At the performance meeting, Wu Jianbin, executive vice president of Sunshine City, said that the progress of the listing is currently being comprehensively arranged and promoted. “If it goes well, it can be completed this year.”

The spin-off and listing of property companies is currently the path that many real estate companies will choose. Sunshine Zhibo’s more detailed financial data and operating conditions will not be announced until the prospectus is submitted.

Mengxiangjia is a brand new business incubated by Sunshine City, dedicated to providing one-stop full-cycle home improvement and home integration services for urban families.

Real estate companies’ home improvement business is not a new thing. Before Sunshine City, Vanke “Wanke” and Country Garden “Orange Home” have entered the home improvement industry; Evergrande, Greenland, Poly and many other leading real estate companies have also entered into the home improvement industry. Home furnishing companies have cooperation.

The operating entity of Mengxiangjia is Shanghai Mengxiangjia Enterprise Development Co., Ltd., which was established in July 2019; In July 2020, Sunshine World Commercial Management Co., Ltd. (a wholly-owned subsidiary of Sunshine City) withdrew from the investment company Shanghai Mengxiang Home, Sunshine City is currently a wholly-owned holding company.

On March 5 this year, the Mengxiangjia Division officially announced that “the real estate industry in 2021 will still face many uncertainties, which requires our advanced strategic vision and wisdom to deal with it.” At that time, Zhu Rong said. .

Produced｜Sohu Finance

Author｜Wu Ya

On April 15, Sunshine City Group (000671.SZ) released its 2020 annual report and held a 2020 annual performance briefing.

“Entering the profit-oriented development stage” became the signal released by Sunshine City at this performance meeting. “The low profit rate is not terrible, but the terrible thing is the loss.” Zhu Rongbin, Executive Chairman and President of Sunshine City, was at the performance meeting. Said so.

In 2020, the overall performance of Sunshine City increased significantly, with annual revenue of 82.2 billion yuan, a year-on-year increase of 34.60%; net profit attributable to the parent company was 5.2 billion, a year-on-year increase of 29.85%. However, the gross profit margin was 18.88% during the same period, a year-on-year decrease of 6.66%.

In 2020, Sunshine City will achieve full-caliber sales of 21.011 billion yuan, equity sales of 139.565 billion yuan, and equity accounted for 64.02%, reaching its annual sales target; in 2021, it will exceed 220 billion yuan in annual sales.

As of the end of 2020, Sunshine City’s debt-to-asset ratio of 79.1% after excluding advance accounts is still “stepping on the line”; Zhu Rongbin said that Sunshine City will continue to maintain its “yellow profile” in 2021.

“The most impressive highlight in 2020 is the company’s successful introduction of Taikang Life Insurance as a strategic shareholder.” After Shoukang became a strategic shareholder, Sunshine City also announced the “Two Five-Year Plans” for the first time under the “Ten Year Gambling Agreement”. The future development goals of the company.

Gross profit margin problem: low profits are not terrible, but the terrible loss is

In 2020, Sunshine City will achieve revenue of 82.171 billion yuan, a year-on-year increase of 34.60%. Among them, the construction industry segment revenue was 897 million yuan, a year-on-year increase of 193.56%; the real estate industry contributed 96.01% of revenue to 78.889 billion yuan, a year-on-year increase of 34.27%.

During the same period, Sunshine City achieved a double reduction in management expenses, marketing expenses and fee rates throughout the year. Among them, management expenses were 1.978 billion yuan, a year-on-year decrease of 9.58%, management fees were 2.41%, a year-on-year decrease of 1.18 percentage points; marketing expenses were 2.402 billion yuan, a year-on-year decrease of 6.49%; marketing expenses were 2.92%, a year-on-year decrease of 1.28 percentage points.

In 2020, Sunshine City realized a net profit of 5.22 billion yuan attributable to its parent, a year-on-year increase of 29.85%; deducting non-net profit of 5.191 billion yuan, a year-on-year increase of 32.52%.

Under the downward trend of the industry, the gross profit margin of Sunshine City in 2020 was 18.88%, a year-on-year decrease of 6.66%. Previously, from 2017 to 2019, this indicator was 18.73%, 20.48%, and 21.55%.

During the same period, Sunshine City’s net profit margin was 6.68%, a year-on-year decrease of 0.4%. Prior to 2017~2019, this indicator was 11.8%, 13.3%, and 12.19%, respectively.

Regarding this, Zhu Rongbin, executive chairman and president of Sunshine City Group, said frankly that in recent years, due to price restrictions and adjustments, the profit rate of the industry has indeed been declining. “Because our profit rate was not high in the past, we are still in a stable situation. “.

In his view, the real estate industry has bid farewell to the era of high dividends. After adapting to the regulation, the profit rate will remain stable after a period of decline.

He said that behind the expansion of the profit scale, it is important to ensure the realization of the safety of profits. “The low profit rate is not terrible, but the terrible thing is to generate losses.”

Insurance capital invested 94.2 billion in net profit of “10-year gambling”, and proposed two “five-year plans”

In fact, with Shoukang’s shareholding, under the “10-year gambling agreement”, for Sunshine City, “delivering on performance and profit growth promises” has become a top priority.

In 2020, the real estate market staged two “marriage” dramas between insurance funds and real estate companies. In the end, China Merchants Shekou failed to introduce Ping An, and Sunshine City successfully partnered with Taikang. At that time, Sunshine City introduced Taikang’s 3.4 billion war investment and signed a 10-year net profit gambling agreement of 94.2 billion.

Specifically, Sunshine City promises a “10-year commitment”: the total net profit attributable to the parent in the first 5 years will be no less than 34 billion yuan, and the cumulative net profit attributable to the parent in the next 5 years will reach 60.164 billion yuan, and the total net profit attributable to the parent in the 10 years Reached 94.223 billion yuan; and if the performance does not meet the target, Sunshine City must provide corresponding cash compensation to Taikang.

“The strongest highlight in 2020 is the successful introduction of Taikang Life Insurance as a strategic shareholder.” Zhu Rongbin said at the performance meeting that Taikang’s shareholding ratio exceeded 13%. At the same time, two directors were stationed to participate in the management of the company and optimize governance with modern company management concepts. The structure improves the management standard; on April 5, Taikang and Sunshine City also formally signed a strategic cooperation agreement to cooperate in various business sectors such as capital, project investment and property listing.

“Sunshine City has made a ten-year performance commitment. This will be a severe test for our operation and management.” He said that in accordance with the development goals, Sunshine City has formulated the company’s development plan for the next 10 years, namely two “five years”. Annual plan”.

Sohu Finance understands that in the planning of the first “Five-Year Plan” (2020 to the end of 2024), Sunshine City seeks “continuous and steady growth in profit scale” and “three red lines” all meet the standards, and “green smart home becomes IP “Achievement of other goals.

In the planning of the second “five-year plan” (2025 to the end of 2029), Sunshine City stated that it will open up a new track in real estate-related fields, have the ability to obtain stable income and sustainable development, and build a future-oriented, self-made blood. , An iterative sustainable development organization.

Sunshine City is a member of Fujian-based real estate companies. From 2016 to 2019, Sunshine City’s sales were 48.7 billion yuan, 91.5 billion yuan, 162.9 billion yuan, and 211 billion yuan, representing a year-on-year increase of 57%, 88%, 78%, 30%.

In terms of sales performance, in 2020, Sunshine City will achieve a full-caliber sales of 21.811 billion yuan. Although the annual sales target has been reached, the growth rate is only 3.3%; for the 2021 annual sales target, Sunshine City seeks “stability” and only sets it as “2200+” “If calculated at 220 billion yuan, this year’s sales growth rate is only 0.9% year-on-year.

The annual report shows that in 2020, Sunshine City will pay a total land price of 70.7 billion yuan for the whole year, of which the equity land price is 40.2 billion yuan, and the total supplementary equity land reserve is about 7.2596 million square meters; the total value of newly confirmed rights is 180 billion yuan, first- and second-tier goods The value accounted for about 70%, and the greater Fujian, the Yangtze River Delta, and the Pearl River Delta accounted for about 63%.

As of the end of 2020, Sunshine City’s accumulated land reserves totaled 42.519,700 square meters, a year-on-year increase of 3.7%. Among them, first- and second-tier cities are expected to account for 75.96% of the future saleable value.

“At the beginning of 2019, Sunshine City set a sales target of 200 billion yuan+. This is the cause of the epidemic on the one hand, and Sunshine City’s prediction of future development.” In Zhu Rongbin’s view, for real estate companies, the scale , Profit and financial indicators are the “impossible triangle” and it is impossible to take care of them all.

He said that in 2021, Sunshine City will strictly abide by the “three revenues and three expenditures”: investment, sales and replenishment based on sales; and to promote the “trillion-yuan reform” strategy. “In order to achieve this goal, Sunshine City has already completed the project at the beginning of this year. The organization of the marketing area is sinking, bringing the marketing command closer to the front line.”

Talking about the “Three Red Lines”: “Keep in the Yellow File in 2021”

In just four years, the sales of Sunshine City went from 30 billion yuan to 200 billion yuan, and the financial indicators once deteriorated. From 2016 to 2019, the debt-to-asset ratio of Sunshine City was above 83%; the net debt ratio was 259.93%, 252.25%, 182.22%, and 138.2%, respectively.

With the cash generated by sales growth and the deleveraging and structural adjustment since 2017, Sunshine City has achieved the “three red lines” from the “orange level” to the “yellow level” six months in advance.

In 2020, Sunshine City’s total assets were 352.301 billion yuan, a year-on-year increase of 14.55%; the net assets attributable to shareholders of listed companies was 306.93%, a year-on-year increase of 14.76%.

In the same period, the scale of Sunshine City’s interest-bearing liabilities was 106.039 billion yuan, a year-on-year decrease of 5.59%. Among them, the scale of short-term interest-bearing debt was 32.524 billion yuan, down 3.06% year-on-year; non-bank financing accounted for 24.94% compared to the end of last year, and continued to drop to 20.34%.

As of the end of 2020, Sunshine City’s asset-liability ratio was 83.18%, a year-on-year decrease of 0.25 percentage points; the interest-bearing asset-liability ratio reached 30.10%, a year-on-year decrease of 6.41 percentage points; the net debt ratio was 94.90%, a year-on-year decrease of 43.04 percentage points.

At the end of the period, Sunshine City’s book currency funds were 49.805 billion yuan, which could fully cover short-term interest-bearing liabilities of 32.524 billion yuan, and the cash short-term debt ratio was 1.53 (after deducting restricted funds of 9.290 billion yuan and pre-sale supervision funds of 6.021 billion yuan, cash short-term debts) The ratio is 1.06).

However, as of the end of 2020, Sunshine City’s debt-to-asset ratio after excluding advance accounts was 79.1%, a year-on-year increase that still did not meet the regulatory requirements, a year-on-year increase of 1.5 percentage points.

The annual report shows that in 2020, Sunshine City’s advance receipts are 68.94 billion yuan, a year-on-year decrease of 13.94% from the 80.11 billion yuan in 2019.

In this regard, Zhu Rongbin said, “It is possible to stay in the yellow file for a long time in the future, and it is indeed a bit difficult to strive for the first five years to achieve the “three red lines” to fully meet the target.”

New track expansion: spin off property listings and force Mengxiangjia

At the performance meeting, Sunshine City revealed that it will expand in new tracks in 201. On the same day, Sunshine City disclosed the plan to spin-off its subsidiary, Shanghai Sunshine Zhibo Life Service Group Co., Ltd. (hereinafter referred to as “Sunshine Zhibo”) to list overseas (Hong Kong Stock Exchange).

According to the announcement, Sunshine Zhibo was established in July 2020. As of the announcement date, Sunshine City and its wholly-owned subsidiary Fujian Sunshine Real Estate Development Co., Ltd. hold 72.39% of its shares (including the direct shareholding ratio of Sunshine City). 71.68%).

In 2020, Sunshine Zhibo will achieve operating income of 1.371 billion yuan, a total profit of 226 million yuan, and a net profit of 173 million yuan, of which the net profit attributable to the owners of the parent company is 173 million yuan.

As of the end of 2020, Sunshine Zhibo’s consolidated total assets are 1.437 billion yuan, total liabilities are 814 million yuan, and net assets are 624 million yuan. Among them, the owner’s equity attributable to the parent company is 624 million yuan.

“After the independent listing of Sunshine Zhibo, it will not have any material adverse impact on the continuous operation of the company’s other business segments, and will not affect the company’s independent listing status.” Sunshine City said in the announcement that Sunshine Zhibo will continue to be listed overseas. Maintain a controlling interest in Sunshine Zhibo; after Sunshine Zhibo is listed overseas, it will help to enhance Sunshine Zhibo’s own market competitiveness.

At the performance meeting, Wu Jianbin, executive vice president of Sunshine City, said that the progress of the listing is currently being comprehensively arranged and promoted. “If it goes well, it can be completed this year.”

The spin-off and listing of property companies is currently the path that many real estate companies will choose. Sunshine Zhibo’s more detailed financial data and operating conditions will not be announced until the prospectus is submitted.

Mengxiangjia is a brand new business incubated by Sunshine City, dedicated to providing one-stop full-cycle home improvement and home integration services for urban families.

Real estate companies’ home improvement business is not a new thing. Before Sunshine City, Vanke “Wanke” and Country Garden “Orange Home” have entered the home improvement industry; Evergrande, Greenland, Poly and many other leading real estate companies have also entered into the home improvement industry. Home furnishing companies have cooperation.

The operating entity of Mengxiangjia is Shanghai Mengxiangjia Enterprise Development Co., Ltd., which was established in July 2019; In July 2020, Sunshine World Commercial Management Co., Ltd. (a wholly-owned subsidiary of Sunshine City) withdrew from the investment company Shanghai Mengxiang Home, Sunshine City is currently a wholly-owned holding company.

On March 5 this year, the Mengxiangjia Division officially announced that “the real estate industry in 2021 will still face many uncertainties, which requires our advanced strategic vision and wisdom to deal with it.” At that time, Zhu Rong said. .

Try it once in your life, travel slowly and feel every single frame outside the train window to see how beautiful Vietnam really is … 1. Railways pass through Hai Van pass (Da Nang and Hue) Many people have experienced and confidently said that: The North – South railway line passing through Lang Co – Hai Van Pass is the most beautiful railway in Vietnam! Because this is the most unique route when one side leaned on the towering mountain, the other faced the deep blue sea, creating a very unique and rare scene. You can sit on the train and watch the sea scenery from Hai Van pass, along with the green patches of green forest. In the summer, the wild flower hills on either side of the train track are also in full bloom and paint a brilliant picture. The trains passing through the Lang Co – Hai Van pass railway often move at a very slow speed, about 15km / h, due to many bends and dangerous terrain. But also because of this, passengers on board can easily enjoy and watch the natural scenery around the legendary Hai Van pass. 2. Phung Hung train route In Asia, when it comes to “Chinatown”, people will immediately think of three very famous names that have appeared in the international newspaper. These are all places that give visitors a thrilling, but no less exciting, experience. The story of this Hanoi railway neighborhood once appeared in many foreign newspapers. In April 2014, the British newspaper Dailymail published an impressive series of photos of trains running across the crowded residential area in Hanoi. During the railway run through the city of Hanoi through many streets such as Phung Hung, Dien Bien Phu, Le Duan … visitors can visit and experience the food service, but only the section across Phung Hung Street is the most crowded. Railways over a hundred years old running through the old town of Hanoi have recently become an attractive tourist destination for tourists, especially foreigners. The dreamy images seem to be only in the movie There are still simple, intimate and rustic features of Hanoi people. 3. Tran Quy Cap train route in Da Lat Dalat city always has beautiful little corners and the train track on Tran Quy Cap Street is such a place. This place is especially beautiful and romantic when cherry blossoms bloom with sparkling pink colors in the season. In addition to cherry apricot, this place is also adorned by the bright yellow color of many wild flower bushes characteristic of the land of fog. Also because of the cherry blossom season, many corners of this train line make people think of the romantic atmosphere of the Japanese cherry blossom season. The train trips between these beautiful and peaceful natural scenery are unique sceneries that you have the opportunity to experience. Because of this beautiful scenery, many people have come here to take excellent check-in photos of Dalat. To get beautiful photos, the photographer needs to wait for the train schedule to reach Trai Mat station and the shooting time is only a few seconds. Therefore, to see these beautiful images sometimes you also need a little more luck.

Image source @Visual China

[ThisarticlecomesfromthefeaturedcolumnofTitaniumMedia“Fast Company”】

Recently, Simayi, a program code library analysis platform, announced the completion of US$5.2 million in Series A financing in September last year. This round of financing was led by Jingwei China, with existing investors such as GGV, Lenovo Star, and Polychain following the investment, and the funds will be used For technology investment and product iteration.

According to public information, Simayi was founded in 2018 by Ren Jinglei, PhD in computer science and technology at Tsinghua University. In March of the same year, it received $1.1 million in angel round investment from Polychain Capital and OSS Capital; in May 2020, it received investment from GGV and Lenovo’s Star and Polychain co-invested US$4.1 million in Pre-A round of financing; in September, it received another US$5.2 million in Series A financing from Jingwei China.

After less than 4 years of establishment, it has obtained 3 rounds of financing in a row. What is the appeal of Simayi to investors? Through this financing, Titanium Media interviewed Ren Jinglei, the founder of Simayi.

Founder of Merico: Ren Jinglei

A paper starts the entrepreneurial journey

“Towards Quantifying the Development Value of Code Contributions” published in the international software engineering conference FSE is the basic framework and the most basic technology for the research and development of the SiMayi project, and it is also a support for products to solutions, just like Google’s two Like the founders who published Page Rank, starting from that paper, they have been building the current Google search engine and the entire business empire.” Ren Jinglei told Titanium Media.

After graduating from Tsinghua University with a PhD in Computer Science in 2016, Ren Jinglei worked as a visiting scholar at Stanford University and Carnegie Mellon University to engage in research on software systems. He also contributed code to the open source community before joining Microsoft Research.

During his work at Microsoft Research, he learned that Facebook uses a simple and rude way of counting the number of lines of code to determine bonuses, which made him realize that enterprises have a demand for quantitative programmers. But this method is not suitable for all teams, he began to think, since doing program analysis, can we measure the programmer’s work through some smarter and in-depth analysis methods.

At the same time, there is another problem that has been bothering him. They have been contributing open source code to the community for many years. Now many open source projects have received some donations, and how to allocate these donations reasonably has always been a question he is thinking about. How to make programmers’ intellectual achievements obtain long-term benefits, so as to promote the prosperity of the entire open source community, especially today, 92% of applications rely on open source software.

Based on the above two factors, Ren Jinglei decided to work for quantitative programmers and what to do in the open source community. Therefore, at the end of 2018, he created Simayi together with Yin Hezheng and Roland. The main business is to quantify the work of programmers through in-depth code analysis technology, mainly including program analysis and artificial intelligence.

New scenarios, new data, new architecture

According to the Evans Data Group’s 2019 report, the number of global developers reached 23.9 million, which is expected to grow to 28.7 million within 5 years. At the same time, with the continuous rise of labor costs, the cost of developers is at the forefront, and the R&D team is transforming from extensive growth to refined management and efficiency improvement.

The enterprise version of Simayi launched in early 2019 is based on in-depth code analysis technology and machine learning technology, extracting retrospective data from historical and current code bases, real-time analysis and feedback, and providing software engineering management and talent development for enterprises The solution is to drive management upgrades with smarter metrics, and promote the joint improvement of the development team and individual developers.

At present, indicators such as working hours, line of codes (LOCs, Line of Codes), and number of commits (NOCs, Number of Commits), which are widely used in the market, are relatively “simple and rude” and are easily disturbed by noise such as line breaks and dead codes.

The code analysis engine of SiMayi compiles the code into an abstract syntax tree, and distinguishes the change in the logic amount of the code generated by each submission, so as to judge the workload; in addition, the analysis engine can also analyze the call relationship between the codes. Function influence, combined with code quality and the impact of code on the overall quality of the project, can more accurately and objectively reflect the value of the developer’s work. At present, the analysis engine has supported 15 development languages, and is continuing to be added.

Since the product went online, it has served Tencent, Didi Chuxing, Hexun.com, ICBC Credit Suisse, Changting Technology, Know Chuangyu, Bairong Yunchuang, Ticket Yitong, Kaisi Auto Parts, Weili Technology and other industry customers, which is also reflected in the side The urgent need of enterprises to improve the efficiency of research and development.

Ren Jinglei said that in response to the needs of customers in different industries, the product is continuously upgraded to 3.0, and the product will be fully optimized from the three dimensions of new scenarios, new data, and new architecture.

New scene

The roles of executives, technical leaders, project managers, and developers, and how different the focus and granularity of the effectiveness data required for different roles are. Based on the wrong roles and usage scenarios, Simayi reconstructed the information framework within the product.

Cross-team efficiency comparison view under executive roles

Specifically, executives can quickly review the R&D performance status and trends of different teams or projects, and accurately guide the team’s improvement direction based on the industry performance reference baseline; project managers can grasp the progress of specific iterations in real time and review project efficiency, quality and stability , Quickly find and respond to bottlenecks; technical managers can continue to track the accumulation of technical debt, identify risks at all stages of the software development cycle, and gain detailed insights into the output efficiency and quality of each developer, and promptly motivate outstanding members; developers can use Quantitative research and development efficiency, visually show their contributions, quickly identify the optimization space of their own code, and how to optimize, so as to spontaneously improve the quality of the project and improve the maintainability of software products.

New data

On the basis of the existing code analysis data, it is connected to JIRA’s R&D process management data. On the one hand, the R&D efficiency data is gathered in one place, which is convenient for managers to understand the R&D process and results from multiple perspectives; on the other hand, these indicators It can cross-analyze existing efficiency and quality indicators to generate more in-depth insights and help managers perceive R&D trends in a timely manner.

Support development equivalent multiple indicators and iterative progress chart

At the same time, version 3.0 supplements industry performance data based on open source projects. According to the scale and language of the enterprise project, the Simayi system can automatically match similar excellent open source projects, provide an external baseline reference, and help R&D managers quickly locate the level of their team in the industry, and objectively understand the direction of improvement.

Industry level view

New architecture

Ren Jinglei said that 90% of large companies such as Didi, Tencent, and Taikang Life Insurance used privatized deployment. He found that the company not only has a complex organizational structure, but also has a large number of project levels and a huge amount of code. There may be tens of thousands of code bases. , Dozens of terabytes of code, the scale exceeds the range that the earlier product version can support.

In order to solve this problem, in the release of version 3.0, Si Ma Yi Enough supports complex organization and project structure, rapid import and configuration, which improves the customer’s startup speed and optimizes the use experience. At the same time, the underlying analysis engine also performs technology Refactoring, based on the distributed computing capabilities of K8s, can now support the import and analysis of 10,000-level code bases to meet the needs of large R&D teams.

Deeply cultivate the code analysis market and introduce AI expert system

Ren Jinglei said, “In the future, we will increase investment in two aspects. On the one hand, we will continue to deepen the code analysis market; on the other hand, we will introduce AI expert systems to help companies better interpret the analyzed data.”

Specifically, in the code analysis market, we will continue to open up the front and back links in the R&D process, and access a wider range of R&D data, such as vulnerability and defect data, performance testing, log analysis, etc., and cross-analyze different data to make the R&D process more effective. The overall results can be traced, providing more complete and in-depth insights for R&D management and bringing new commercial value.

Introducing the AI ​​expert system, further productizing the existing light consulting services, improving the system’s ability to interpret data, discover problems, and judge trends, so that data analysis can more directly help R&D management decision-making.

Regarding corporate profitability, Ren Jinglei’s thinking is that the current focus is on privatization deployment of enterprise version products, and subscription fees, because as of the first 4 months of 2021, 150% of last year’s annual sales have been achieved, and all expired customers are retained. Performance. At the same time, it is also expected that public cloud services will be launched this year to provide SME customers with a more convenient and efficient deployment and use experience.

In addition, the open source community version Merco Build was released at the end of 2020, which provides free analysis of the effectiveness and community activity for open source projects, and provides individual contribution reports for open source contributors.

Hope that through the promotion of public cloud services and community version products, continue to accumulate research and development performance data, optimize the underlying computing engine, create a credible in-depth code analysis engine, and become a developer and development team in contribution analysis, performance analysis, competence analysis, etc. Industry Standard.

(This article first published Titanium Media App, author | Guo Hongu, editor | Cai Pengcheng)