Produced｜Sohu Finance

Author｜Wu Ya

On the evening of June 14th, Juran Zhijia (SZ:000785) issued multiple announcements in a row, disclosing various contents such as “Adjustment of Beijing Juran Zhijia Home Furnishing Chain Co., Ltd. (hereinafter referred to as “Home Chain”) related performance commitments.

Jiaranzhijia said that in view of the comprehensive impact of various factors such as the sudden outbreak of the new crown epidemic in early 2020, the listed company plans to adjust the performance commitments of the home chain after consultation with the performance pledger.

In the original performance promise, the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses (hereinafter referred to as “net profit deducted from the parent company”) realized by the household chain in 2020 should not be less than about 2.42 billion yuan; and financial data Shows that this indicator for the household chain in 2020 is about 1.297 billion yuan, which is 1.118 billion yuan less than the original performance commitment, and the performance completion rate is 53.59%.

The announcement shows that after this adjustment, the household chain will no longer assume the performance indicator of deducting non-parent net profits in 2020; the original performance commitment will be postponed to the next fiscal year, that is, 2021; in addition, other performance compensation The method and calculation formula, the implementation of profit compensation and other original terms are not adjusted.

Photo source: “Announcement of Juran Home New Retail Group Co., Ltd. on Adjusting Beijing Juran Home Furnishing Chain Co., Ltd.’s Performance Commitments”

Jia Ranzhi was established in 1999. In December 2019, it backdoor Wuhan China Merchants reorganization and listing and landed on the A-share capital market. At that time, Jia Ranzhi signed a performance betting agreement with Wuhan Zhongshang, the holder of Shell Resources.

In 2019, the first annual report after listing, home furnishing chain achieved 2.117 billion yuan of net profit deducted from the parent company, fulfilling the first performance period commitment; but in the first year after backdoor, the home furnishing chain performance was unqualified for gambling.

In the first quarter of this year after the epidemic, the business of Jia Ranzhi ushered in a rebound. According to the plan of Jiaranzhijia, in 2021, it will have breakthroughs in the development of six self-service modes, and the establishment of its first overseas store outside the country.

Home furnishing chain deducts only 1.297 billion yuan in net profit from non-returned parent in 2020, “unqualified”

The result of “the first year of backdoor performance is not qualified for gambling” has been reflected in the 2020 annual performance forecast announcement. At that time, Jiaranzhijia had announced that in 2020, the non-net profit will be reduced by up to 30% to only 1.45 billion yuan; and that “preliminary estimates that the home chain will not be able to complete the 2020 annual performance forecast”.

Judging from the statement of the announcement, the new crown epidemic is the main factor that has caused such a predicament for home furnishing chains. Jiaranzhijia stated that “the household chain’s operating income was directly reduced by 2.161 billion yuan due to the impact of the epidemic, and the net profit attributable to the parent company will be reduced by 1.277 billion yuan after deducting non-recurring gains and losses in 2020.”

Among them, home furnishing chains reduced rents, property fees, market management fees, and advertising and promotion fees for a total of 1.569 billion yuan (72.6%); during the epidemic period, the leased area was reduced, and the rent was also reduced by 259 million yuan; Signing of franchise stores has been significantly reduced compared with the same period and plan, and the loss of household chain stores is 152 million yuan.

However, due to multiple factors such as preferential policies and property owners’ rent reductions, the household chain will save 443 million yuan in operating costs in 2020.

The home furnishing business is mainly engaged in home furnishing products retail, home improvement services, home store business, decoration business and other pan-furniture businesses. In December 2019, after nearly a year, the home actually backdoored Wuhan Zhongshang to land in the A-share market (issued by Wuhan Zhongshang) The shares purchased 100% of the home furnishing chain) and became another home furnishing store giant that has landed on the A-share market after Macalline (SH: 601828).

At that time, from the book assets alone, the transaction consideration of 35.65 billion yuan between the two parties was not cheap; compared with the net asset value of 11.199 billion yuan involved in the transaction, the premium rate was 218.54%.

As a result, this also left the sword of Damocles hanging over the head of the unexpected house-the gambling agreement. At that time, the two parties made performance commitments for the home furnishing chain: from 2019 to 2021, the home furnishing chain will achieve a net profit of no less than 2.06 billion yuan, 2.42 billion yuan and 2.72 billion yuan, respectively.

The agreement signed by the two parties also clarified that “if a force majeure event occurs that causes part of the original profit forecast compensation agreement to be unfulfilled or delayed, neither party is required to bear any liability for breach of contract due to the unfulfilled part or delayed performance caused by the force majeure event.” .

The first annual report after listing is the first performance commitment period. The net profit of household chain deductions from non-parents is approximately 2.117 billion yuan, far exceeding the commitment target of 2.06 billion yuan, and the performance completion rate is 102.76%.

In the first year after the backdoor, that is, the second performance commitment period, the final result showed that the net profit attributable to the owners of the parent company in the consolidated statement of the household chain was 1.368 billion yuan; the actual profit is the net profit after the deduction of the non-parent company after the consolidated statement. 1.297 billion yuan; and 2.42 billion yuan of performance commitments, there is still a gap of 1.118 billion yuan.

Photo source: “Special Verification Opinions of CITIC Securities Co., Ltd. on the Realization of the 2020 Performance Commitments and Performance Commitment Adjustments of Beijing Juranzhijia Home Chain Co., Ltd

In view of this, Zhiranzhijia said that it intends to adjust the performance commitments: After the adjustment, the net profit of the home chain in 2019, 2021 and 2022 will not be less than 2.06 billion yuan, 2.42 billion yuan and 2.72 billion yuan, respectively. ; In addition, the original performance does not make adjustments to other major terms in the gambling agreement.

In other words, after this adjustment, the 2020 performance commitment of the home furnishing chain will be postponed to the next fiscal year, 2021.

According to the announcement, the new crown epidemic is an unforeseen and insurmountable force majeure event that was unpredictable and insurmountable when the original performance betting agreement was signed, and it is directly related to the failure of the household chain to achieve the 2020 performance promise, so this adjustment plan is reasonable.

“This adjustment plan is conducive to further urging home furnishing chains and companies to increase the speed of performance recovery, increase the rate of performance improvement, and essentially improve the quality of listed companies, which is conducive to the long-term interests of all shareholders, especially small and medium shareholders.” Jiaran said.

This year’s GMV may exceed 100 billion yuan, and plans to open no less than 70 new stores

The annual report shows that due to the impact of the epidemic, the total revenue of the house in 2020 was 8.993 billion yuan, a year-on-year decrease of 2.56%; the net profit attributable to the parent was 1.363 billion yuan, a year-on-year decrease of 56.81%.

During the period, the operating cost of the house was 5.36 billion, a year-on-year increase of 9.3%; the expense ratio was 18.2%, a year-on-year increase of 4.6%, which was a drag on the company’s performance. In addition, in 2020, the annual sales (GMV) of Jia Ranzhi was 65.7 billion yuan, a year-on-year decrease of 17.87%.

In addition to the sharp decline in performance, from 2018 to 2020, the interest-bearing liabilities of the house were 258 million yuan, 3.104 billion yuan, and 4.131 billion yuan respectively, which increased by about 16 times in three years; of which, the long-term interest-bearing debt was 1.32 respectively. Billion yuan, 2.305 billion yuan, 2.587 billion yuan, 5.1 times in three years, accounting for more than 51%.

In May 2020, Ranzhijia, which was listed on the backdoor for only half a year, launched a fixed increase, issuing stocks to no more than 35 specific investors, raising funds no more than 3.595 billion yuan for store renovation and upgrading, and smart retail construction of Zhongshang Supermarket And replenish working capital and other matters.

In December of the same year, the unexpected home announced that it had completed a fixed increase of 3.5 billion, and companies such as Xiaomi, Ali, and Centennial Life Insurance appeared in the list of subscription targets, which brought a great “blood-tonifying” effect to the unexpected home affected by the epidemic.

Among them, Xiaomi Technology (Wuhan) Co., Ltd., furniture listed company Gujia Home Furnishing (SH: 603816), and Centennial Life Insurance each subscribed for 14.1643 million shares, each with a shareholding ratio of 0.22%; Alibaba (Chengdu) Software Technology Co., Ltd. subscribed 28,329,600 shares, with a shareholding ratio of 0.43%.

The latest financial report shows that in the first quarter of 2021, the house of unexpectedly realized revenue of 3.34 billion yuan, a year-on-year increase of 39.05%; realized a net profit of 630 million yuan, a year-on-year increase of 144.58%. Compared with the same period in 2019, the growth rates have also reached 61% and 43% respectively.

In this regard, Jiaranzhijia said that during the reporting period, the investment rate of the company’s direct-operated stores has overcome the impact of the epidemic and returned to a high level, and the expansion of franchise stores has also resumed rapid growth.

It also predicts that the company’s GMV is expected to exceed 100 billion yuan in 201, and it plans to open no less than 70 new stores throughout the year.

For Jia Ranzhi, 2021 is the second fiscal year after listing, and it is also a crucial year for its digital strategy. In December last year, Jia Ranzhi held a new retail achievement and digital strategy press conference, and for the first time disclosed in detail the new strategy of “building a home improvement and home furnishing industry service platform in the digital age”.

Wang Linpeng, chairman and chief executive officer of Juran Home, said that Juran Home is no longer a traditional home furnishing store, a traditional home retail enterprise, and a real estate-style property service provider. It must become an enterprise with long-term value.

At that time, Ranzhijia launched six self-operated IPs, covering design, decoration, auxiliary materials, logistics and distribution, smart home and after-home services, covering all the upstream and downstream tracks of home improvement and home furnishing, including lying flat designer home, digitalization Six platforms including smart home improvement service platform.

According to the plan of Juranzhijia, these six IPs have the profitability to run wildly along their respective tracks; they can also be interconnected and empowered with each other. It is estimated that “every track can contribute more than 10 billion in revenue within 5 years after it runs through.”

In terms of the main business, Jia Ranzhi predicts that in the next 5 years (2025), offline stores will strive to exceed 1,000, with GMV exceeding 150 billion yuan; within 10 years (2030), offline stores will strive to exceed 1,500, GMV More than 300 billion yuan.

However, the performance of the house in the stock market is not optimistic. On June 11, the stock price of Jiaranzhijia hit 6.31 yuan, the lowest since December 28, 2018; it closed at 6.73 yuan, down 0.16%.

On June 15th, the first trading day after the announcement of the adjustment of the performance commitment compensation plan, the stock price of Jiajiao reached the bottom again at intraday, to 6.22 yuan; it closed at 6.29 yuan, down 1.26%.

With the gradual advancement of Huawei’s “renewal of hundreds of machines”, there will be more and more models and equipment adapted to the Hongmeng OS system in the future, and even a lot of honor enthusiasm can be upgraded to experience the Huawei Hongmeng OS system;

However, according to the well-known big V, Huawei Hongmeng OS system leader Wang Chenglu officially stated: “The installed capacity of the Hongmeng OS system this year is 360 million units, and the installed capacity of the Hongmeng OS system in the following year is 1.23 billion units.” At the same time this year. More than 1.2 million developers will join the Hongmeng OS system ecosystem, and the development goal for the next year is 10 million developers.

Regarding the development goals of Huawei Hongmeng OS system, it undoubtedly exposed Huawei’s ambitions. However, this “small goal” set by Huawei has once again been questioned by many netizens. Many people have questioned and said that Huawei brags, and even netizens mentioned it. By the time, if Huawei’s current equipment inventory is calculated at 120 million, it is estimated that only 50% of people will choose to upgrade Hongmeng. Can the final installed capacity of Huawei Hongmeng OS system reach 60 million?

In fact, the stock of Huawei’s mobile phone market is far more than 120 million. At the same time, the installed capacity has exceeded the 10 million mark in just one week. It can be seen that the upgrade rate of Huawei Hongmeng OS system is definitely far more than 50%. In a few days, the Honor 30 and v30 have been upset because of the Hongmeng schedules on the Q4 forum, and the Honor 20 and 30 series can apply for the closed beta in a few days. Various signs indicate that the installed capacity of the Huawei Hongmeng OS system can be assured;

Of course, Huawei has indeed done a lot of bullshit in the past, and now it has been realized by Huawei. This is not one or two things. Many things have been proved. After all, Huawei, as the strongest private technology giant in China, is also a hard-working company. , If you want to build the same successful domestic operating system, you have set a very ambitious target of 360 million installed units, which seems difficult to achieve, but in fact, Huawei can fully achieve this small goal, confident Originating from the Hongmeng OS system in many key performance aspects, it has far surpassed the IOS/Android system, and Huawei’s HMS ecological service has also completely secured the third largest ecological throne in the world.

Finally: Dear friends, do you think the Huawei Hongmeng OS system can accomplish this feat? What are your opinions and opinions on this? Welcome to leave a message in the comment area to discuss, and look forward to your wonderful comments!

Corentin Tolisso. The Old Lady’s top target in the summer 2021 transfer window is still Sassuolo’s Manuel Locatelli, but Tolisso will be a backup. According to DiMarzio, Juventus had the first contact with Tolisso with the consent of coach Max Allegri. Tolisso’s contract at Bayern expires next year and he has struggled to compete for a starting place in the Gray Lobster’s midfield. The French player has great potential but injuries keep him from reaching his full potential. He still has some great performances for Bayern but with plenty of quality options in central midfield, the German club are weighing Tolisso’s future. An offer from Juventus for a player who is not so important and is about to enter the final year of his contract will be worth considering for Bayern. They certainly don’t want him to go under the CNTD format, but they don’t plan to extend it either. DiMarzio also pointed out that this is not the first time Juventus has pursued the French midfielder. They tried to sign him in 2017, when he was still playing for Olympique Lyon in Ligue 1. After that, Tolisso moved to Bayern for 41.5 million euros, a record transfer fee for Gray Lobster at the time. Only when Luca Hernandez moved from Atletico Madrid for a fee of 80 million euros in the summer of 2019, this record was broken. In addition to Juventus, Tolisso has also received the attention of many big players such as Arsenal, Man United, Inter Milan, Napoli and Atletico Madrid. In the winter transfer window of 2021, there was much information that Bayern wanted to use Tolisso as part of the agreement to sign Florian Neuhaus from Borussia Monchengladbach. However, the deal was not successful.

Ho Chi Minh City strives for 100% of supermarkets to use environmentally friendly plastic bags in 2021. Photo: CAO THANG Many consequences The project “Building a system to observe plastic waste in society and the environment” (COMPOSE) implemented by the French Embassy in Vietnam has shown that, out of 250,000 tons of plastic waste per year in Ho Chi Minh City, there are 48,000 tons. buried, more than 200,000 tons are recycled or discharged directly into the environment. Alarmingly, the Saigon River has the 5th largest amount of plastic waste in Vietnam and 45th in the world. The amount of plastic waste dumped into the Saigon River in March 2018 recorded 5.6 – 10.3 tons. Based on this figure, the amount of plastic waste is estimated at 7,500 – 13,000 tons/year. Every liter of water the Saigon River pours into the sea has 1,000 times more microplastics than the Seine in Paris. According to research by scientists, each broken microplastic will produce a lot of toxic substances harmful to health. At that time, people can suffer from hormone balance, neurological diseases, respiratory diseases… Microplastics less than 5mm long, when not properly collected and handled, will have a negative impact on the environment and the ocean. , underwater creatures. Microplastics are found in most of the products we use every day such as cleansers, shower gels, toothpastes and some cosmetics. Each time we wash 6kg of clothes, we also release 728,000 microplastic fibers into the environment. Researchers from the World Wide Fund for Nature (WWF) also argue that plastic pollution is a transboundary problem, with global impacts. Southeast Asia, including Vietnam, is most vulnerable as the region bears most of the consequences of the overload and inefficiencies of the global recycling system. Plastic pollution causes negative economic impacts on the region’s industries, estimated at $1.3 billion per year. Although most national governments have announced or are in the process of establishing national regulatory measures, these measures are limited in their ability to address the broad cross-border challenge. borders of ocean plastic pollution due to lack of effective coordination among countries. The time has come for countries to consider establishing a legally binding international treaty to combat plastic pollution. The convenience and popularity of plastic products on the market, especially single-use plastic items, make consumers consume and use a large amount of plastic. Therefore, we need to come up with basic solutions to limit such as incentives for new innovative products, promotion of more sustainable or plastic-free alternatives. Create a labeling mechanism to promote better choices from consumers. It is necessary to encourage the participation of businesses in handling plastic packaging. Combine multiple solutions To join hands with the Government to realize the goal of reducing plastic waste, the People’s Committee of Ho Chi Minh City has issued a plan to strengthen the management, reuse, recycling, treatment and reduction of plastic waste. Accordingly, Ho Chi Minh City strives by the end of 2021, 100% of supermarkets and trade centers to use environmentally friendly packaging for living purposes to replace difficult-to-decompose plastic bags; Small traders at the people’s market reduce by 50% using non-biodegradable plastic packaging in product packaging. State management agencies and public non-business units must be exemplary, active, and take the lead in reducing and reusing plastic waste, not using non-degradable plastic packaging and single-use plastic products. times (bottles, jars, straws, foam boxes…) at offices, conferences, seminars. In particular, limit the use of single-use banners, slogans, etc., and switch to using electronic devices for propaganda purposes. To achieve these goals, Vice Chairman of Ho Chi Minh City People’s Committee Le Hoa Binh directed relevant departments and units to jointly develop action plans for implementation. In particular, focus on waste control at source. Minimize and move towards not using non-biodegradable plastic packaging and single-use plastic products in all daily activities of state agencies, factories, schools and people’s daily activities. . Mobilize restaurants, hotels, tourist resorts, tourism and catering establishments, etc. to have plans to reduce plastic waste and gradually switch to using recycled and environmentally friendly products. Plastic waste generated from tourism, marine services, maritime economy, marine mineral resources, aquaculture and fishing must be collected, stored and transferred to functional units. handling. In parallel with the source control solution, HCMC also encourages the reuse and recycling of plastic waste through the development and deployment of the 3T model (Reduce – Reuse – Recycle). , encourage and create favorable conditions for organizations with functions and conditions to perform the service of collecting, reusing and recycling plastic loads in the city. Ho Chi Minh City will also strengthen the inspection of environmental violations such as indiscriminate dumping of waste and plastic waste in public places. Inspect and handle violations of environmental protection tax, value-added tax, corporate income tax, etc. in import, production and distribution activities, and trading in non-degradable plastic packaging and plastic products. disposable; encourage recycled products, environmentally friendly products.

The program has “dual goals” including: Protecting the secrets of private life and preventing and dealing with acts of taking advantage of the internet environment to abuse children, in which special attention is paid to equipping children. knowledge and skills appropriate for each age (digital immune system) so that children can self-identify and protect themselves in the online environment. At the same time, the program maintains a healthy network environment, develops an ecosystem of Vietnamese products and applications for children to learn, connect, and entertain creatively. The program sets out a number of specific goals such as: 100% of primary schools, junior high schools, high schools, and child protection and nurturing facilities periodically organize propaganda and education programs for children. knowledge and skills necessary for children to participate in a safe online environment. 100% of children who are victims of abuse in the online environment are supported and intervened at the request of the children themselves or from their relatives and the social community. To achieve the goals, the program will deploy many technical measures, solutions, and technology applications. The program deploys technical solutions to connect, share data, collect and analyze information, monitor compliance with filtering, and remove child abuse content on the network environment; establish friendly information channels to receive and reflect on images, videos and content of child abuse in the online environment; integrate online notification channels on issues related to children in the network environment with the national child protection switchboard number 111. In addition, the program will put into use in the education industry software, information and communication technology applications, scientific repositories, electronic publications to improve the quality of teaching and learning on the Internet. network environment , and at the same time well manage students’ access to the network, innovate the way the school interacts with families and students; contribute to the safe implementation of digital transformation in the field of education and training. The program also encourages and calls for Vietnamese businesses in digital technology, digital content and digital media to develop and master technologies to protect and support children in the online environment and applications and content. help children interact healthy and creative in the online environment.

Illustration. The Prime Minister, on June 1, signed Decision No. 830/QD-TTg approving the program “Protecting and supporting children to interact healthy and creatively in the online environment for the period 2021-2025”. This is the first time that Vietnam has issued a Program at the national level specifically on the issue of child protection in the online environment. The program “Protecting and supporting children to have healthy and creative interactions in the online environment for the period of 2021-2025” aims at dual goals: Protecting the secrets of private life and preventing and dealing with behaviors taking advantage of the online environment to abuse children, with special attention being paid to equipping children with age-appropriate knowledge and skills (digital immune system) so that children can self-identify and be able to ability to protect themselves in the online environment; Maintain a healthy network environment, develop an ecosystem of Vietnamese products and applications for children to learn, connect and entertain in a creative way. The program is highly interdisciplinary with the participation of many state management agencies including: Ministry of Information and Communications, Ministry of Labor – Invalids and Social Affairs, Ministry of Education and Training, Ministry of Public Security; the coordination of socio-political organizations: Vietnam Fatherland Front, Vietnam Women’s Union, Ho Chi Minh Communist Youth Union Central Committee; the participation of information and communication enterprises, press agencies; and especially the involvement of parents, teachers and caregivers. In order to effectively implement the goal of protecting the secrets of private life and preventing and dealing with acts of taking advantage of the cyber environment to abuse children, at the same time, maintaining a healthy online environment and developing the ecosystem. By embracing Vietnamese products and applications for children to learn, connect, and entertain in a creative way, the program has introduced many innovative initiatives, tasks, and breakthrough solutions, specifically: Deploying new technology solutions (artificial intelligence, big data…) to automatically collect and analyze early warning, prevent/handle content that violates the law on children, inappropriate content suitable for children. Establishing and organizing activities of the Network to rescue and protect children in the online environment with the main tasks of raising awareness and sharing experiences of child protection in the online environment; receive, classify, transfer, and promptly handle complaints and problems arising from children in the online environment; Develop and implement programs and activities to support and encourage businesses to develop initiatives and provide information security technical solutions to protect children from interacting safely in the online environment; propose a pilot mechanism to order businesses to provide products and services developed by Vietnamese enterprises to support children’s creative interaction in the online environment. Integrate online notification channels on issues related to children in the online environment with the National Child Protection Switchboard No. 111; towards forming a single application on the network environment to reflect and share issues related to children. Develop and integrate into the educational program the training of “digital skillset” for children by age, including a number of contents and skills such as knowledge about the Internet, social networks; minimum information security skills; protect personal information online; how to recognize when being exploited or violated in the network environment and where information and reflection are needed… Implement technical solutions at schools to monitor, block and filter access to illegal content and inappropriate content for students of each age group. Previously, on May 26, the Minister of Information and Communications issued Decision No. 716/QD-BTTTT on the establishment of a network to rescue and protect children in the online environment. This network with the participation of many agencies, organizations and businesses acts as an interdisciplinary organization, helping the Minister of Information and Communications to enhance the effectiveness and efficiency of state management and real results. performing the tasks of preventing child abuse in the online environment, raising social awareness and creating a safe and healthy online environment for children.

Emissions from a factory in Scunthorpe, UK. Photo: AFP/VNA The UK’s Emissions Trading Scheme officially became operational two weeks ago, replacing the UK’s participation in the EU’s common system. The UK government has announced that the new CO2 trading scheme will make a significant contribution to achieving the goal of being CO2 neutral by 2050. British Prime Minister Boris Johnson also plans to reduce emissions by 78%. pollutant emissions by 2035 compared to 1990 levels. UK prices start at around £50 ($71) per tonne of CO2, slightly higher than European prices. Meanwhile, the average selling price in the world’s third largest market, California (USA) is about 20 USD/ton. Observers say the supply of CO2 credits is dwindling in the UK to meet the Government’s environmental targets. Therefore, CO2 prices in this market are expected to continue to rise. According to Tim Atkinson, director of sales and brokerage at CF Partners, CO2 trading is one of the cornerstones of climate change policy. He considers this the most important tool to cut emissions in the power sector and heavy industries. For example, the UK has largely phased out the use of coal, largely because CO2 quotas make it too expensive to produce electricity this way. Meanwhile, other tools such as subsidies have fueled the boom of wind farms in the country. The efforts come as the UK, host of the G7 summit this month, is urging the world’s richest nations to facilitate for the “green” global economic recovery after the COVID-19 pandemic. London will also host the United Nations climate summit (COP26) in Glasgow in November.

The program has “dual goals” including: Protecting the secrets of private life and preventing and dealing with acts of taking advantage of the online environment to abuse children, with special emphasis on equipping children knowledge and skills appropriate for each age (digital immune system) so that children can self-identify and protect themselves in the online environment. The second goal, the program maintains a healthy network environment, develops an ecosystem of Vietnamese products and applications for children to learn, connect, and entertain in a creative way. Program to protect and support children to have healthy and creative interactions in the online environment for the period of 2021-2025 It is considered to be highly interdisciplinary with the participation of the Ministry of Information and Communications, the Ministry of Labor, War Invalids and Social Affairs, the Ministry of Education and Training and the Ministry of Public Security. In addition, the program also received the coordination of socio-political organizations, Vietnam Fatherland Front, Vietnam Women’s Union, Ho Chi Minh Communist Youth Union Central Committee. Information and communication enterprises, press agencies also participate and implement the program. The program also introduced many breakthrough initiatives, tasks and solutions. One of them is deploying new technology solutions (artificial intelligence, big data…) to automatically collect and analyze early warning, prevent/process content that violates the law on children , the content is not suitable for children. The program to establish and organize activities of the Network to rescue and protect children in the online environment with the main tasks of raising awareness and sharing experiences of child protection in the online environment; receive, classify, transfer, and promptly handle complaints and problems arising from children in the online environment. Develop and implement programs and activities to support and encourage enterprises to develop initiatives and provide information security technical solutions to protect children from interacting safely in the online environment; propose a pilot mechanism to order businesses to provide products and services developed by Vietnamese enterprises to support children’s creative interaction in the online environment. Integrate online notification channels on issues related to children in the online environment with the National Child Protection Switchboard No. 111; towards forming a single application on the network environment to reflect and share issues related to children. Develop and integrate into the educational program the training of “digital skills” for children by age, including a number of contents and skills such as knowledge about the Internet, social networks; minimum information security skills; protect personal information online; how to recognize when being exploited or violated in the network environment and where information and reflection are needed… Implement technical solutions at schools to monitor, block and filter access to illegal content and inappropriate content for students of each age group. The promulgation of the above program is to concretize a step of the implementation of Resolution No. 121/2020/QH14 dated June 19, 2020 of the National Assembly on continuing to strengthen the effectiveness and efficiency of the implementation of policies and laws. law on the prevention and control of child abuse. This move is also a strong message, demonstrating the Government’s determination to protect the future generation of digital citizens, towards building and maintaining a safe and healthy online environment for children to unleash their creativity. create. Nguyen Son The entire Program ‘Protecting and supporting children to have healthy and creative interactions on the internet’ ‘

Orcin G (from Hamburg, Germany) has a height of 1.90 m with attractive blue eyes. For him, appearance is not the only thing that inspires, but also comes from a passion for work and a belief in difference in appearance. Image: fashionably male, @ orcin.g. Kelvin Davis lives in Columbia, South Carolina, USA. He is not only an oversized model but also known as a fashion blogger for men. His page is called Notoriently Dapper – a place that inspires people to love their own body and always confident in appearance despite the difference. Image: glamor, happiful. Riccardo Onorato born in 1987, living in Rome, Italy. The male model has a personal page called Guy Overboard – where he shares his knowledge of fashion and style for large-sized clothing. As a blogger, Riccardo helps oversized men easily choose suitable outfits and are more confident with their body. Image: @guyoverboard. Robert Kuhn attracts the eyes of the opposite person thanks to deep blue eyes. He shared with Fashionuer : “Being a model with a difference in appearance makes me face malicious comments. However, it is that difficulty that motivates me to work hard every day.” Image: immbruxelles. Brett Morse Not only a model but also a disc shooter at Olympic . With a height of 1.89 m and weighing 121 kg, he always tries to exercise every day to have a firmer, more attractive body. Image: color. Alex Frankel used to weigh 200 kg at the time of the wedding. Unlike men’s preferences for drinking and smoking, he only focuses on a passion for food. The male model’s big dream is to become a modern version of Mario Lanza in the 1950s. wihelmina. Scott Bayliss Models are managed by Next Models and Curve Models. Thanks to his stylish fashion style and sophisticated style, he has attracted a lot of attention from companies specializing in producing oversized clothing. Image: @scottbayliss_, gentlemenscurb. Steven Martin (from Germany) was one of the first to sign a contract with Bridge Models. Steven has an elegant beard and a height of 1.85 m. Even as an oversized model, he still tries to take care of himself by exercising and maintaining good health. Image: rothman models. Zach Miko famous for being the first oversized model for Target – the famous clothing line in America. He has also appeared in many advertisements and magazines. The male model is 2 m tall and has a waist circumference of 101 cm, rejecting the popular notion that a man should have abs. Currently, fashion is more diverse, so oversized people need to dress up with trends. Image: imgmodels, @extraextratyle. Claus Fleissner not only famous as an oversized male model but also a blogger. He was contracted by Curve Model Management and spoke up about accepting the diversity of male body shapes. At the age of 37, Claus became a model by participating in a fashion show for loose clothing. Image: @Extra Inches, pocketstylist. The tallest models on the catwalk Lingerie model Karlie Kloss, Caroline Trentini and many long legs impress by her outstanding height.

Signing of a cooperation agreement on waste collection and recycling. Accordingly, URENCO and PRO Vietnam cooperate to develop a specific plan to promote the model of sorting at source, collecting, transporting and treating recyclable waste in Hanoi; building and implementing communication plans: Designing, training, communicating to raise awareness, guide the method of garbage classification at source; thereby changing the habits and behaviors for the community in the classification and collection of recycled waste. At the same time, the two sides build a network to connect between collection and transport units – recycling units in promoting a circular economy … PRO Vietnam currently has 18 members who are the leading brand owners and packaging manufacturers, importers, distributors and retailers in the food and beverage industry. Speaking at the signing ceremony, Mr. Zahanzeb Khan, Vice President of PRO Vietnam shared: “Through this cooperation, we wish to create a connection between PRO Vietnam and members of the Urban Environment Association. Vietnam market and industrial park in implementing environmental protection activities, for a green – clean – beautiful Vietnam; at the same time, making packaging recycling more accessible and sustainable, towards the goal All packages of PRO Vietnam members put on the market are collected for recycling. According to URENCO’s statistics on the results of the implementation of waste management, classification and collection at sources deployed in 4 districts (Hoan Kiem, Ba Dinh, Dong Da, Hai Ba Trung) in Hanoi, from mid-August Until now, URENCO has purchased more than 150 tons of recycled waste. Of these, plastic accounts for 35%, paper 55% and 10% are metals.

Promote the provision of online public services According to the Ministry of Information and Communications, by the end of 2020, the average rate of level 4 service delivery nationwide is 30.86%, reaching the target of 2020. However, in order to develop e-Government towards digital government in the new phase, the provision of public services remains a top priority task. Therefore, the Ministry of Information and Communications recommends ministries continue to drastically and effectively implement solutions to achieve the goal of providing 100% of eligible public services to level 4 online in 2021. . For public services that do not qualify for online posting level 4, it is necessary to thoroughly apply technical solutions to maximize public service delivery activities on the network environment, from the submission process, receive and settle administrative procedures dossiers until the results are returned to the people and enterprises. The Ministry of Information and Communications also requested ministries and branches to assign the specialized agencies in charge of information technology of the ministries and branches to develop a plan to implement the level 4 public service delivery service, in which the following contents should be clearly shown: Target to provide 100% qualifying public services to level 4 online by 2021 month by month; A list of public services that are eligible to go online to level 4 in 2021 and a list of public services ineligible for level 4 online (with an explanation of the cause of ineligibility) should be sent to the Department. TT-TT before April 29, 2021. Every month, the ministries and branches send reports on the provision of electronic services to the Ministry of Information and Communications through the digital transformation evaluation system at: https://dti.gov.vn for synthesis. At the same time, the information collection and evaluation system and the information service (EMC System) built by the Ministry of Information and Communications when connected to the public service portal and the ministerial electronic one-door system will monitor the reality. implementation of the provision of public services by ministries and branches.

Negotiators from the EU states and the European Parliament have finally agreed to tighten the climate target for 2030. By then, the European Union’s greenhouse gases are to be reduced by at least 55 percent below the 1990 level. So far, the target has been minus 40 percent. The climate law will also make it legally binding that the EU will become climate neutral by 2050. From this point onwards, the international community wants to emit fewer greenhouse gases than it otherwise compensates.

Savings through lowering?

After more than 15 hours of negotiations, the negotiators of the European Parliament finally accepted the brand that the EU heads of state and government had set at the end of 2020. The EU Parliament actually wanted a lot more: a 60 percent reduction in greenhouse gases and a more rigorous calculation method. The MPs only reached concessions in details. In addition to the percentage, the main point of contention was the question of whether and to what extent the amounts of carbon dioxide stored by forests, plants and soils should be included. MEPs complain that including these so-called sinks weakens the savings target. Instead of 55 percent, the actual savings would only be 52.8 percent, complained the Greens, among others.

Climate council should watch over goals

The parliamentarians negotiated at least that the counting of the sinks will be limited to 225 million tons of carbon dioxide. The EU Commission is to increase the binding power of the forests to 300 million tons of carbon dioxide through afforestation, so that net greenhouse gases could be saved by more than 55 percent. Parliament was able to establish a climate council with 15 experts to support the implementation of the goals. In addition, a greenhouse gas budget is determined for the next few decades, from which a milestone for 2040 can be derived.

“Binding promise”

The details of the deal now leave room for interpretation. The agreement puts the EU “on the green path” for a generation, said EU Commission President Ursula von der Leyen. “It is our binding promise to our children and grandchildren.” Vice-President Frans Timmermans said that the EU was sending “a strong signal to the world”. The liberal chairman of the Environment Committee in the EU Parliament, Pascal Canfin, said that the compromise would enable a reduction of “close to 57 percent” by 2030 compared to 1990. The social democratic rapporteur Jytte Guteland made a similar statement. Parliament wanted more, but this was “a good first step towards climate neutrality,” she said.

Ambitious but necessary

The federal government praised the agreement as setting the course for new investments. Now the way is clear for an “ambitious European climate law”, said Economics Minister Peter Altmaier (CDU). “With clear, long-term objectives, we now have the unique opportunity to promote and reconcile climate protection and business together.” With investments in innovations and new clean technologies, jobs could be secured and new ones created, said Altmaier. Federal Research Minister Anja Karliczek also welcomed the EU decision. This was “ambitious, but absolutely necessary in view of the ongoing climate change,” said the CDU politician of the news agency dpa. Karliczek called for research in the field to be further strengthened. Without the further development of climate-friendly technologies, it will not be possible to limit the rise in temperature worldwide. “All over the world there will be more and more demand for climate-friendly technologies. The development of climate-friendly technologies will be a key issue for our country in the next few years,” emphasized Karliczek.

“Leadership lost”

The German CDU MP Peter Liese spoke of a “historic agreement”. If everything goes well, it is quite conceivable that the target for 2030 will be “overachieved” and that in the end there will be a “net 57 percent” reduction. The Federation of German Industries described the 55 percent target as “extremely ambitious”. The Greens were disappointed. “With this climate target and climate law, the European Union is losing its pioneering role in climate protection,” criticized MEP Michael Bloss. “The Paris climate agreement will hardly be able to be adhered to, climate change will not forgive us for that.” His group colleague Sven Giegold complained that the climate target had been reduced with a “computing trick”. This is a serious mistake, and the federal government has also contributed to it.

Biden invites you to the summit

The parliament and the council of the EU states still have to formally approve the outcome of the negotiations. Before US President Joe Biden’s virtual climate summit on Thursday and Friday, the political pressure was high to tie down a binding EU target and thus bring the EU climate law under wraps. The US is also expected to announce a more ambitious climate target for 2030. At the end of the year, all contractual partners are to sharpen their climate targets at a world climate conference in Glasgow. Otherwise the treaty target of stopping global warming below 2 degrees – and if possible only 1.5 degrees – would be missed.

Specifically, Techcombank targets 2021 consolidated pre-tax profit at 19,800 billion, up 25.3% compared to the result in 2020. Credit balance is expected to reach nearly 356,200 billion, growth of at least 12%. compared to last year and within the amount allowed by the State Bank. Deposit value (including certificates of deposit for individual customers) is expected to reach VND 334,291 billion, growing at least 14.7% and in line with actual credit growth. Notably, Techcombank targets 2021 consolidated pre-tax profit to reach 19,800 billion, up 25.3% compared to 2020. NPL ratio is expected to be below 2%. Techcombank 2021 shareholders meeting Techcombank’s management said it would improve efficiency by concentrating resources to increase demand deposit balance (CASA), on home buying value chains, real estate and high-income customers. Techcombank will also focus resources on customer-transaction banking platforms; upgrading credit processes; providing the right process for customers, minimizing the time to reach “approval”; analyzing data to gain insights into customers; creating a technological platform for building and implementing specialized financial products and services … At the meeting, Techcombank continued to submit to shareholders not to pay dividends, which meant keeping more than 26,700 billion dong of undistributed profits for business operations. At the same time, the bank continues to submit to shareholders the plan of issuing shares for selected employees (ESOP). Number of shares expected to be issued is more than 6 million shares, selling price is 10,000 dong / share. Shares are restricted from transfer for 1 year. In addition, at this meeting, a new member of the Board of Directors will be elected with the candidate Mr. Ho Anh Ngoc (Chairman Ho Hung Anh’s younger brother). Thus, the number of members of the Board of Directors of the bank is expected to increase from 8 to 9 people. Mr. Ho Anh Ngoc was born in 1982, holds a Master’s degree in economics from Macquarie University Sydney, Australia. He is also a CPA member of the Australian Auditing Association. Since 1/2007, Mr. Ho Anh Ngoc has held many positions at Techcombank, from Deputy Director of Consumer Service Card Center; Director of Ho Chi Minh City Branch; Deputy Head of Wholesale Banking Division and Head of Wholesale Banking in the South, … Currently, he is holding the Southern Representative Board of Techcombank, is the Chairman of the Board of Directors of One Mount Group, Chairman of JSC 1MG Housing, Chairman of JSC One Distribition. In addition, from 1 / 2013-5 / 2018, he was a Vice Chairman / Chairman of the Board of Members of Techcombank AMC. From November 2011 to January 2013, he was Vice President cum General Director of Thao Dien Investment Joint Stock Company, … HA Techcombank aims to make a “huge” profit of nearly 20,000 billion in 2021

Aviation and shipping are likely to be included in the new UK target. (Image: Getty Images) In the near future, Prime Minister Boris Johnson will announce a commitment to reduce emissions by 78% by 2035. The new UK target will be announced before the summit on climate. Here, President Joe Biden will outline a new national carbon reduction goal of the US. The UK’s new goal is seen as a step up from the previous goal of reducing emissions by 68% by 2030, which is already one of the most ambitious plans among the developed economies. To achieve this goal, the UK will have to make changes to most industrial activities, including: carbon-free electrical systems, reducing meat and dairy consumption across the country, introducing low carbon heating in the home and more forest. The UK is one of the first major countries to make a commitment to zero emissions by 2050. The United States is expected to adopt a similar goal under the Biden administration. Emissions from international aviation and shipping are likely to be included in the new UK target. As the COP26 host in Glasgow in November, the UK tried to persuade other countries to adopt more ambitious climate targets ahead of the meeting. However, the pandemic hindered the efforts of the economic CO P26 which was delayed for a year because of Covid-19. He is coming up with contingency plans that include a virtual summit, delaying the event, or a mixed model with only a small number of attendees. Summit Chairman Alok Sharma said: “We are actively working, of course taking into account any unusual cases related to Covid-19. I have no desire for procrastination any more. Prime Minister Johnson gave priority to green policies, enacted a ban from 2030 on the sale of new gasoline cars and major new targets for offshore wind production.

Emission from a factory in Scunthorpe, UK. Photo: AFP / VNA This week, the UK is expected to commit to a stronger cut in carbon emissions on its role as COP26 President country later this year. British Prime Minister Boris Johnson will announce a new commitment to reducing emissions by 78% by 2035 compared to 1990 levels. The new UK target will be announced ahead of the US Climate Summit on This Thursday (April 22), the event that US President Joe Biden will also outline a new US national goal for carbon reduction. The UK’s new goal is a more ambitious step up from the previous goal of reducing emissions by 68% by 2030, already one of the most ambitious among the developed economies. To achieve this goal, Britain will have to make changes to most industrial activities, such as switching to electrical systems, according to a report by the Climate Change Commission, an independent advisory group of the UK Government. works without creating carbon emissions, reducing meat and dairy consumption, replacing low-carbon heating in the home, and growing more trees. The UK is one of the first major economies to commit to zero net emissions by 2050. The United States is expected to adopt a similar goal under the Biden administration. The UK is the host country of the COP26 Conference scheduled to be held in Glasgow in November this year. The UK is also trying to lobby other countries to adopt more ambitious climate goals ahead of the conference.

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. .

Apple logo in San Francisco, California, USA. Photo: AFP / VNA On April 15, Apple announced an initiative to reduce carbon emissions with the Recovery Fund (RF), which aims to invest in forestry projects to reduce carbon emissions from the atmosphere while generating profits. for financial investors. Together with Conservation International and Goldman Sachs, Apple’s $ 200 million fund aims to remove at least 1 million tons of CO2 annually from the atmosphere, equivalent to the emissions of more than 200,000 passenger vehicles. According to the company “Apples Defect”, RF can help expand the scale of investment in forest rehabilitation. Conservation International will co-invest in RF while Goldman Sachs will take on the role of fund manager. Apple said the three sides will identify new projects later this year. Nature offers one of the best tools for removing carbon from the atmosphere, says Lisa Jackson, Apple’s vice president of environmental, policy and social initiatives. By setting up a fund that generates both financial returns as well as helping to reduce emissions, Apple seeks to promote broader change in the future, by encouraging investments in carbon removal across the country. bridge. Apple hopes that others will share its goals and contribute resources to support and protect ecosystems. In July 2020, Apple announced its goal of neutralizing 100% of its entire supply chain and product lifecycle by 2030 and directly eliminating 75% of its supply chain and product emissions. 2030. It is expected that RF will help solve the remaining 25% of Apple’s emissions by removing carbon from the atmosphere. During the past year, 15 Apple suppliers in China pledged to join the plan and shift Apple’s manufacturing operations to 100% renewable energy. Apple Vice President and CEO of Apple in China Isabel Ge Mahe said that as early as 2015, Apple has launched a long-term cooperation plan for many years with the World Natural Foundation to build more than 400,000 hectares of forests in China. to 2020./.

A coal-fired power station from German giant RWE, in Weisweiler, West Germany, January 26, 2021. Photo: INA FASSBENDER | AFP | Getty Images Policymakers are under increasing pressure to fulfill the commitments of the Paris Agreement ahead of COP26 in Glasgow, Scotland, November 2021. Politicians and businessmen acknowledge the need to transition to a low-carbon society, but slowing global warming and meeting global goals of reducing emissions is increasingly so difficult. According to the director of the International Center for Environmental Law Carroll Muffett, the energy transition is going too slowly from a climate change perspective, but most importantly the acknowledgment of the problem is mainly willpower. political and economic options. World leaders and business sectors repeatedly reiterate their commitment to “transform the energy”. Nearly 200 countries have ratified the Paris Agreement on Climate Change, unanimously pursuing efforts to limit global warming to 1.5 degrees Celsius. This continues to be the main focus of COP26, albeit one Some climate change scientists say that now this goal has been “unattainable”. The Intergovernmental Panel on Climate Change (IPCC) thinks that between 2030 and 2052, the global temperature will get 1.5 degrees C hotter; To reduce global warming, it is necessary to reduce carbon emissions by 45% by 2030 from 2010 levels, before reaching net zero emissions by 2050. The problem is not that there is no technology or the ability to transform, or economic choice, but the structure of power and support for an industry that will decline. The emissions balancing strategies of some Governments and companies still depend on the increasing use of fossil fuels in the “coming decades”. According to Carroll Muffett, this reality can be seen in US policy, particularly in the plan to invest heavily in carbon capture and capture. The road is bumpy ahead . According to the US National Oceanic and Atmospheric Administration, the Earth’s carbon level is higher than at any time in the past 3.6 million years; If the worst effects of climate change are to be mitigated, it is important to focus on reducing fossil fuel emissions and studying how to prevent greenhouse gases entering the atmosphere. Burning fossil fuels such as oil, gas and coal releases large amounts of carbon into the air. Fossil fuel emissions and industry accounted for 89% of global emissions in 2018, the IPCC says. The US Energy Information Administration projects that global carbon emissions from fuel sources will continue to increase over the coming decades. According to energy finance analyst Clark William Derry, the current “energy transition” process is like the “transition of energy systems from the 19th century to the 21st century”; transition is taking place but it is not clear whether it is fast enough to prevent the worst consequences of climate change, fast enough to improve air quality in cities in developing countries such as in India, China, Bangladesh, Vietnam as well as some other countries; The road ahead is very bumpy. Is the current essential issue . The IPCC Intergovernmental Group notes that the transition from fossil fuels is underway and will require “rapid, far-reaching and unprecedented” changes in all aspects of the commune. festival. However, the February 2021 United Nations report showed that countries’ commitment to reducing greenhouse gas emissions was “far from” compared to the far-reaching measures needed to avoid the dire consequences of Climate Change. Currently only 75/195 countries have signed the Paris Agreement on climate change, submitting the National Contribution Plan (NDC) on emissions reductions to 2030. USA, China and India, are emissions countries. The world’s largest has yet to release its own NDC. United Nations Executive Secretary on Climate Change Patricia Espinosa urged policymakers to “accelerate” ambitious plans to cut emissions by 2021, emphasizing it as “crucial. ” The current./.

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For the first time the world has a guideline for the global health sector to reach zero emissions by 2050. This is an industry with no small climate impact, equal to 4.4% of global net emissions. Without climate action inside and outside the industry, emissions by the health sector would more than triple, to more than six gigatons per year by 2050, equivalent to annual emissions from 770 homes. coal thermal power plant.

If countries can meet the commitments in their Paris Agreement, this could cut the health sector’s projected increase in emissions by 70%, still a long way from its zero-emission target. This Roadmap Guideline identifies seven high-impact activities that could help the health sector cut emissions by 44 gigattons more over 36 years, the equivalent of keeping more than 2.7 billion barrels of oil underground each. year.

Medical waste (Artwork: chatthaiyte.vn)

The roadmap also outlines for the health sector in different countries separate carbon reduction orbits. Countries with large greenhouse gas emissions in the health sector need to reduce their emissions fastest and most. Meanwhile, low-income and middle-income countries with less responsibility can implement climate-smart solutions to develop their health infrastructure, following a less “slope” trajectory. “For zero emissions. The guidelines also have a proposal for Vietnam’s health sector, ranking 20th out of 68 countries in the net emissions report and responsible for 2.4% of total national emissions.

The new Global Roadmap Guidelines show that 84% of the sector’s climate emissions come from fossil fuels used in health-care operations, supply chains and the broader economy. . These include coal, oil and gas used to power hospitals, medical travel, manufacturing and transporting health care products.

“We are experiencing a climate emergency at the same time,” said Josh Karliner, International Strategy and Program for Harm-Free Health and co-author of the Roadmap. health, including increased respiratory illnesses caused by fossil fuel pollution and illnesses caused by severe climatic effects such as wildfires. Not only does the health sector bear the brunt of these two crises, but ironically also contributes to them through its own emissions. Health leaders are forced to take the lead as an example and act now to reach zero emissions by 2050. This roadmap helps to chart the path in that direction, ”

The Roadmap Guidelines provide detailed data on health sector emissions from 68 countries and specific recommendations for governments, international agencies, and the private sector to achieve their carbon reduction goals and creating a better and fairer health care system. Recommendations for governments include incorporating carbon reduction in the health sector into their own National Contribution (NDC) commitments under the Paris Agreement and developing robust interagency climate policies to ensure protects public health from the impacts of climate change, and supports carbon reduction and resilience in the healthcare sector.

There are already good examples of health systems in countries adopting zero emissions schemes. Britain’s National Health System has announced a 2040 zero net emissions goal. Most recently, Argentina included reductions in healthcare carbon emissions in its climate plans. Healthcare professionals are a key voice in asking governments to be more aggressive in climate action. In May last year, 40 million people working in the health sector signed a statement asking G20 leaders to focus on public health and green recovery when planning a post-pandemic economic recovery. Most recently, Lancet research has published that ambitious climate goals can save millions of lives each year ../.