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Private enterprises in Guanlan, Chaotou, overcome difficulties.

  On the way to Sichuan, General Secretary of the Supreme Leader made a special trip to see a private enterprise — — Jimi Optoelectronic Co., Ltd. focuses on the strengthening of independent innovation by enterprises, local support for the development of private economy, and the introduction of bail-out policies.

  At present, some private enterprises have encountered certain difficulties. As the general secretary said, "We have solved different problems in different periods, and now we need to further study how to solve the current problems in the development of private enterprises." Private enterprises are still growing in the fields of China’s hope.

Private economy has contributed a lot.

  General Secretary of the Supreme Leader once summed up the characteristics of the private economy with "56789", that is, it contributed more than 50% of tax revenue, more than 60% of GDP, more than 70% of technological innovations, more than 80% of urban employment and more than 90% of enterprises. The supreme leader sincerely said, "China’s economic development can create a miracle in China, and the private economy has contributed!"

  △ Yibin, Sichuan, Lingang Development Zone. (Photographed by General Station reporter Hu Jichuan)

  As of last year, the number of private enterprises in China has increased to 44.575 million, accounting for 92.1% of the total enterprises. The growing private "army" plays an important role in stabilizing growth, promoting innovation, increasing employment and improving people’s livelihood.

Care and encouragement are consistent.

  The General Secretary of the Supreme Leader is very concerned about the development of private enterprises, and he gave great care and encouragement to private enterprises as early as when he worked in the local area. In Zhejiang, he promised private entrepreneurs: "You can come directly to Hangzhou and come to my office."

  In November 2018, the General Secretary specially presided over the symposium on private enterprises. He came straight to the point: "The purpose of holding this meeting today is to brainstorm, strengthen confidence and work together with Qi Xin to maintain and enhance the good momentum of the development of China’s private economy."

  △ In April, 2021, the Supreme Leader pointed out that it is not easy to achieve such a big millet flour industry when inspecting the snail powder production cluster in Liuzhou. (Photographed by CCTV reporter AARON Li)

  In July, 2020, when the epidemic in COVID-19 had a great impact and many market players were facing unprecedented pressure, the General Secretary also convened an entrepreneur forum attended by representatives of private entrepreneurs and individual industrial and commercial households to have a heart-to-heart talk, cheer up and listen to opinions and suggestions.

  From building a pro-fresh relationship between government and business, to declaring that "private enterprises and private entrepreneurs are our own", from paying attention to the healthy growth of "creating the second generation" to supporting entrepreneurs to "persevere in running a constant business" … … A word of entrustment, a measure, so that private entrepreneurs eat "reassurance."

Where there is life there is hope

  On the way to China, private enterprises are also one of the focuses of the Supreme Leader General Secretary.

  In March, 2020, when the General Secretary inspected small and medium-sized private manufacturing enterprises in Ningbo, Zhejiang Province, he said that China’s small and medium-sized enterprises are energetic, good at overcoming difficulties and constantly striving for self-improvement. With the support of the party, the government and all sectors of society, they will certainly be able to tide over the difficulties and usher in better development.

  At that time, the supreme leader inspected the mechanical mold production line of this enterprise in Ningbo. (Photographed by CCTV reporter Xing Bin)

  During an inspection tour in Liuzhou, Guangxi in April last year, the General Secretary went to the snail powder production cluster to learn about the local characteristic industries to promote employment and increase farmers’ income.

  Influenced by COVID-19 epidemic and external environment, private enterprises in China, especially some small and medium-sized enterprises, are under great pressure.

  On April 29th this year, Politburo meeting of the Chinese Communist Party explicitly requested that market players should be stabilized and a package of relief policies should be implemented for industries, small and medium-sized enterprises and individual industrial and commercial households severely affected by the epidemic.

  Large-scale value-added tax refund, deferred payment of social security fees, increased support for job stability, and exemption of private enterprise bond financing transaction fees … … A series of measures to help enterprises bail out have been introduced intensively, which is injecting confidence into the development of private enterprises.

  The shepherd would rather lose the wool than the sheep. By doing everything possible to protect market players, we can accumulate basic strength for China’s economic development.

  As the General Secretary of the Supreme Leader said, "China’s development will fluctuate for a while, but in the long run it will still be a mighty east wind." Enhance confidence, face difficulties, China private economy will still hold up a sky.

  Producer: Shen Yong Zhao Xuehua Gong Xuehui

  Chief writer Liu Huimin

  Broadcast Li Chun

  How long is audio production?

  Editor-in-Chief Yu Zhenyi

  Visual sense, Chen Kuo, Zhang Jing

On traditional foreign trade industries from the perspective of "intellectual creation" chain, opening up "new track" and enhancing international competitiveness

CCTV News:Labor-intensive industries are the traditional dominant industries in China’s foreign trade, but they are also facing increasingly fierce international competition. In the first two months of this year, the export value of China’s labor-intensive products increased by 22.2% year-on-year, and many industries broke through in the competition. The global market share of China’s toothbrush industry is about 60%. How can small toothbrushes keep a large share? Let’s go and see The Secret Behind.

In a toothbrush factory in Yangzhou, Jiangsu, more than 200 sets of production equipment are busy working, and the shaping, coloring and hair insertion of the brush handle are all completed automatically. The person in charge of the company told the reporter that half of their orders come from overseas and grow at a rate of about 30% every year. In order to meet the growing demand for overseas orders, this smart factory was put into production at the end of 2023.

The production efficiency of toothbrush also depends on the quality of mold. A good mold can improve the quality of toothbrush and reduce the rate of defective products. In another toothbrush enterprise in Yangzhou, Jiangsu Province, the processing center that produces molds is as lively as the product production line. The person in charge of the enterprise told the reporter that one mold can be produced here every day. Because they have improved the processing accuracy, each mold can make at least 4 million toothbrushes.

Jiang Qiang told reporters that their annual R&D investment exceeds 3%, which is to do a good job in the transformation and upgrading of traditional industries and improve the global competitiveness of toothbrushes. It is understood that one out of every three toothbrushes in the world comes from Yangzhou, Jiangsu.

Old industry, new hand clothing enterprises form a group to start cross-border e-commerce

Besides toothbrushes, clothing is also a typical labor-intensive industry. China has been the world’s largest clothing producer and exporter for many years. Facing the fierce competition in the international market, the export value of clothing still achieved double-digit growth in the first two months of this year. In the investigation, the reporter found that many garment enterprises seized the new opportunity of cross-border e-commerce on the way to breaking the situation.

Zhou Huiming is the head of a clothing enterprise in Ningbo, Zhejiang Province. Since 2007, he has been engaged in clothing export. A few years ago, overseas orders met with bottlenecks. After investigation, he and several friends who encountered similar problems started a second venture and established a cross-border e-commerce clothing export enterprise.

After discussion, they targeted the customer base at small overseas e-commerce companies. Finding targets through overseas social media, promoting their own brand products and providing OEM cooperation have become their main channels for expanding customers.

Traditional garment foreign trade factories have to order at least thousands of pieces, while cross-border e-commerce has a small single order, and sometimes it is difficult to find factories to take orders. Zhou Huiming, relying on the original factory and industrial chain, quickly solved this problem, and the sales performance doubled year by year.

Live air freight overseas warehouse practitioners "show their magical powers" to help clothing exports

In addition to clothing manufacturers "holding a group" to do cross-border e-commerce, many people have made great efforts in mode and logistics, and the practitioners of "showing their magical powers" have helped China’s clothing exports to grow substantially.

A small room of several square meters, two rows of colorful men’s suits, this cross-border e-commerce enterprise in Hangzhou, Zhejiang Province, is a cross-border e-commerce live broadcast room specially for North American consumers. The person in charge of the enterprise told the reporter that cross-border e-commerce has greatly shortened the supply chain of clothing exports, and they can face overseas consumers directly.

John young said that they used big data to collect a large number of overseas buyers’ comments on the Internet as design guidance. After accumulation, their export volume increased by more than 30% in the first quarter of this year. Network shortens the distance between supply and demand, while aviation shortens the transportation time limit. At Hangzhou Xiaoshan International Airport, small packages are passing the cross-border e-commerce inspection and will be sent to Japan soon. The person in charge of the cross-border e-commerce platform told the reporter that the purpose of taking clothes by air is to improve the repurchase rate of overseas consumers, and the more densely woven international routes provide a guarantee for air transportation of clothes.

Faster than air freight are overseas warehouses. The reporter learned from an American clothing overseas warehouse that after the consumer placed the order, the eastern region of the United States was 3-mdash; The goods can be received in 4 days, while it only takes 2 days in the western United States, and the number of cross-border e-commerce practitioners entering overseas warehouses is increasing.

AI native application, why difficult to produce?

 Picture | |Bohdan Kit

Quadrant originality

Wen Yi Luo Ji

Programming heart

The native application of AI is "difficult to produce".

After the Hundred Models War, a group of exhausted entrepreneurs gradually reacted: the real opportunity for China lies in the application layer, and the native application of AI is the most fertile soil for the next round.

▲ The picture comes from the Internet.

Robin Li, Wang Xiaochuan, Zhou Hongyi and Fu Sheng, taking stock of the speeches made by big bosses in the past few months, all emphasized the great opportunities of the application layer.

Internet giants talk about AI nativity: Baidu released more than 20 AI native applications in one breath; ByteDance set up a new team, focusing on the application layer; Tencent embedded the big model into the small program; Ali also wants to do all the applications again with Tongyi Qianwen; Wps crazy gift AI experience card ..

Startups are even more fanatical. After a hackathon, there are nearly 200 AI native projects. Since the beginning of this year, there have been dozens of events and thousands of projects, including Wonderland, Baidu and Founder Park, but none of them came out.

We have to face up to the fact that although we are aware of the great opportunities of the application layer, the big model has not subverted all applications, and all products are being transformed innocently. Although China has the best product managers, they are "out of order" this time.

From the explosion of Midjourney in April to the present, in nine months, the domestic AI native application of "Hope of the whole village" has been brought together. Why is it difficult to give birth?

Choice is more important than hard work. At present, perhaps we need to look back calmly and find the "posture" to correctly open the AI ? ? native application.

First, do AI native, not end to end

Why is the native application difficult to produce? We may find some answers from the "production" process of native applications.

"We usually run four or five models at the same time, which one has better performance." A big model entrepreneur in Silicon Valley mentioned when communicating with Self Quadrant that they developed AI applications based on basic big models, but in the early stage, they didn’t bind a big model, but let each model run up and down, and finally chose the most suitable one.

Simply put, the horse racing mechanism is now involved in the big model.

However, there are still some disadvantages in this way, because although it chooses different large models to try, it will eventually be deeply coupled with one of them, which is still an "end-to-end" research and development idea, that is, one application corresponds to one large model.

However, unlike applications, as a large model at the bottom, it corresponds to multiple applications at the same time, which leads to very limited differences between different applications in the same scene. The bigger problem is that at present, all the basic large models on the market have their own advantages and disadvantages, and no large model has become a hexagonal warrior, which is far ahead in all fields, so it is difficult for applications developed based on a large model to achieve balance in various functions.

In this context, the decoupling of large model and application has become a new idea.

The so-called "decoupling" is actually divided into two links.

The first is decoupling the large model from the application. As the underlying driving force of AI native application, the relationship between big model and native application can actually be compared with the automobile industry.

▲ The picture comes from the Internet.

For AI native applications, the big model is like the engine of a car. The same engine can adapt to different models, and the same model can also match different engines. Through different training, different positioning from mini-cars to luxury cars can be realized.

Therefore, for the whole vehicle, the engine is only a part of the overall configuration and cannot be the core of defining the whole vehicle.

Analogy to AI native application, the basic big model is the key to drive the application, but the basic big model should not be completely bound with the application implementation. A big model can drive different applications, and the same application should also be driven by different big models.

In fact, such examples have been reflected in the current cases. For example, domestic flying books, nails and foreign Slack can all adapt to different basic models, and users can choose according to their own needs.

Secondly, in the specific application, the large model and different application links should be decoupled layer by layer.

A typical example is HeyGen, an AI video company that exploded abroad. Its annual recurring revenue reached $1 million in March this year and $18 million in November this year.

HeyGen currently has 25 employees, but it has established its own video AI model, and integrated the large language models of OpenAI and Anthropic and the audio products of Eleven Labs. Based on different big models, HeyGen will use different models in different links such as creation, script generation (text) and sound when making a video.

▲ Source HeyGen official website

Another more direct case is the plug-in ecology of ChatGPT. Recently, the domestic clipping application Clipping has joined the ecological pool of ChatGPT. After that, users request to call the clipped plug-in on ChatGPT to make videos, and Clipping can automatically generate a video driven by ChatGPT.

That is to say, the many-to-many matching between large model and application can be detailed enough to select the most suitable large model to support in each link. That is, an application is not driven by a large model, but by several or even a group of large models.

Many large models correspond to one application, which is the best of a hundred. In this mode, the division of labor in the AI industry chain will also be redefined.

Just like the current automobile industry chain, every link of the engine, battery, accessories and fuselage has its own specialized manufacturers, and the OEM only needs to select and assemble them to form differentiated products and push them to the market at the same time.

Re-division of labor, breaking the reorganization, not breaking and not standing.

Second, the embryonic form of the new ecology

Under the multi-model and multi-application mode, a new ecology will be born.

According to the map, we try to imagine the architecture of a new ecology based on the experience of the Internet.

At the beginning of the birth of applets, everyone was very confused about the capabilities, architecture and application scenarios of applets. In the early stage, the development speed of applets was very slow, and the number of applets could not advance by leaps and bounds.

Until the emergence of WeChat service providers, service providers connected with WeChat ecosystem, were familiar with the underlying architecture and pattern of small programs, and connected with corporate customers to help customers create exclusive small programs according to their needs. At the same time, they cooperated with the whole WeChat ecosystem to acquire customers and retain them through small programs. The service provider group also ran out of the micro-alliance and praised.

In other words, the market may not need a big model, but it needs a big model service provider.

By the same token, each big model needs to be really used and traded before it can really understand the relevant characteristics and how to play it. In the middle layer, the service provider can not only create a number of big models in backwards compatibility, but also create a benign ecology with enterprises.

According to past experience, we can roughly divide service providers into three categories:

The first type of experienced service providers, that is, to understand and master the characteristics and application scenarios of each big model, cooperate with the industry segmentation scenarios, and open up the situation through the service team;

The second type of resource-based service providers, like the business model that Weimeng was able to get the low-priced advertising space in WeChat and then outsource it, the opening authority of the big model in the future is not universal, and the service providers who can get enough authority will cast early barriers;

The third type of technical service providers, when the bottom layer of an application is embedded with different large models at the same time, how to call and connect multiple models in series, while ensuring stability and security, as well as various technical problems need to be solved by technical service providers.

According to the observation of "self-quadrant", the prototype of large model service providers has begun to appear in the past six months, but in the form of enterprise services, they teach enterprises how to apply various large models. And the way to do application is also slowly forming WorkFlow.

"I’m going to make a video now. I’ll first put forward the idea of a script with Claud to help me write a story, then copy and paste it into ChatGPT, use its logical ability to decompose it into a script, access the clipping plug-in and turn it into a video to directly generate a video. If some pictures in the middle are not accurate, use Midjourney to regenerate them and finally complete a video. If an application can call these capabilities at the same time, it is a truly native application. " An entrepreneur told us.

Of course, there are many problems to be solved in the real implementation of multi-model and multi-application ecology, such as how to communicate among multiple models? How to maximize model calls through algorithms? How to cooperate is the best solution, which is both a challenge and an opportunity.

Judging from the past experience, the development trend of AI applications may be scattered and dotted, and then gradually unified and integrated.

For example, we need to ask questions, make pictures and do PPT. At present, there may be many separate applications, but they may be integrated into a whole product in the future. Move closer to the platform. For example, the previous taxi, take-away, booking and other formats are gradually concentrated into a super APP, and different needs will also pose further diversified challenges to the model’s ability.

In addition, AI Native will subvert the current business model, the hot money in the industrial chain will be redistributed, Baidu will become the shelf of knowledge, Ali will become the shelf of goods, and all business models will return to the most essential part to meet the real needs of consumers, and redundant processes will be replaced.

On this basis, value creation is on the one hand, and how to rebuild the business model has become a more important issue for investors and entrepreneurs to think about.

At present, we are still on the eve of the outbreak of the original application of AI. When it is gradually formed, the bottom layer is the basic big model, the middle layer is the big model service provider, and the upper layer is various startup companies. With such a clear division of labor and benign cooperation, AI native applications can come in batches.

The map in this paper comes from the network.

If you want to break the news, contribute, reprint, cooperate and communicate.

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Learn from him and inject new impetus into the development of Sino-British relations

one

  British Prime Minister Theresa May paid an official visit to China from January 31st to February 2nd, and held a new round of annual meeting between Chinese and British prime ministers. Theresa May’s visit is a historic state visit to Britain by the Supreme Leader in 2015. After China and Britain announced the establishment of a global comprehensive strategic partnership oriented to the 21st century and the beginning of the golden age of Sino-British relations, the two sides held the annual meeting of prime ministers for the first time. It is also Theresa May’s first visit to China since he took office as Prime Minister, which is of great significance to the development of Sino-British relations under the new situation. On Sino-British relations, the Supreme Leader General Secretary has many important expositions, so let’s study them together.

  Turn the blueprint of "golden age" into more "golden achievements"

  I paid a successful state visit to the UK in 2015. Together, we have opened the "golden age" of Sino-British relations and injected new impetus into the development of bilateral relations. Since taking office, Prime Minister Mei has continued to adhere to the general direction of the "golden age" of Sino-British relations, and Sino-British relations have maintained a sustained development trend. At present, high-level exchanges between China and Britain are close, mutually beneficial cooperation is deepening, and people-to-people exchanges are increasingly active, bringing tangible benefits to the two peoples. China is willing to continue to strengthen communication, exchanges and cooperation with the British side, including carrying out mutually beneficial cooperation on a larger scale, at a higher level and at a deeper level within the framework of the Belt and Road Initiative, so as to turn the blueprint of the "golden age" into more "golden achievements" and promote the long-term and stable development of bilateral relations.

  — — Speech when meeting with former British Prime Minister David Cameron at Diaoyutai State Guesthouse on January 11, 2018.

  Reaffirm the general direction of the "golden age" of Sino-British relations

  When the Prime Minister and I met during the G-20 Summit in Hangzhou last September, we reaffirmed the general direction of the "golden age" of Sino-British relations. Thanks to the joint efforts of both sides, China-UK strategic mutual trust has deepened and pragmatic cooperation in various fields has reached a high level. This year marks the 45th anniversary of the establishment of diplomatic relations at ambassadorial level between China and Britain, and bilateral relations are facing new opportunities for development. China is willing to work with Britain to push China-UK global comprehensive strategic partnership for the 21st century to a higher level, so as to bring more benefits to the two peoples.

  — — Speech when meeting with British Prime Minister David Theresa May in Hamburg on July 7, 2017.

  The first year of the "golden age" of Sino-British relations

  This year marks the beginning of the "golden age" of Sino-British relations, and next year will mark the 45th anniversary of the establishment of diplomatic relations at ambassadorial level between the two countries. China is willing to work with Britain to push the global comprehensive strategic partnership between the two countries to a higher level for the 21st century.

  — — On September 5, 2016, he met with British Prime Minister David theresa may, who was in China to attend the G20 Summit.

  It is timely to further deepen bilateral relations and mutually beneficial cooperation.

  Britain is an ancient and young, traditional and modern country. In recent years, Sino-British relations and cooperation in various fields have entered the fast lane of development. This year marks the beginning of the second decade of China-UK comprehensive strategic partnership, and it is timely for the two countries to further deepen bilateral relations and mutually beneficial cooperation.

  — — On October 21, 2015, he held talks with British Prime Minister David Cameron at the Downing Street Prime Minister’s Office in London.

  Important partner and sincere friend

  China regards Britain as an important partner and sincere friend. Since the end of World War II, Sino-British relations have generally been at the forefront of China’s relations with the West.

  — — Speech at the Mayor’s Dinner of the City of London on October 21st, 2015.

  Jointly open the "golden age" of Sino-British relations

  "The way to benefit is to go with the times." Bacon said: "The golden age is in front of us, not behind us." In today’s meeting with Prime Minister Cameron, we reached a consensus on creating a "golden age" of global comprehensive strategic partnership facing the 21st century. Let’s take action, seize the opportunity given by the times, jointly open the "golden age" of Sino-British relations, and strive to make new and greater contributions to the lofty cause of peace and development of mankind!

  — — Speech at the Mayor’s Dinner of the City of London on October 21st, 2015.

  You have me and I have your community of interests.

  China and Britain are increasingly becoming a community of interests in which you have me and I have you. The source of the development of Sino-British relations comes from the mutual understanding, support and friendship between the two peoples. The era we live in today is an era with the theme of peace and development, and it is also an era in which all countries help each other in the same boat and work together. In such a great era, standing at a new starting point of comprehensive strategic partnership, it is timely for China and Britain to join hands.

  — — On October 20, 2015, he delivered a speech at the British Parliament.

  China and Britain are important representatives of eastern and western civilizations.

  Both China and Britain are influential countries in the world, sharing broad common interests and shouldering important responsibilities for promoting world peace and development. At present, China-UK relations are very good, and China-UK comprehensive strategic partnership is entering the fast lane of development. The trade volume between the two sides has exceeded US$ 80 billion, and Britain is also the main destination of China’s investment. The two countries have made new progress in cooperation in the fields of finance, nuclear power and high-speed rail. This year is the year of cultural exchange between China and Britain. China and Britain are important representatives of eastern and western civilizations. Strengthening exchanges and cooperation between the two countries will certainly make positive contributions to the progress of world civilization.

  — — On March 2, 2015, he met with Prince William, Duke of Cambridge, England at the Great Hall of the People in Beijing.

  Relations between the two countries have turned a new page.

  The Prime Minister’s successful visit to China last December turned a new page in the relations between the two countries. It is hoped that the two sides will continue to make joint efforts, maintain high-level exchanges on the basis of mutual respect and taking care of each other’s major concerns, and make good use of the annual meeting between Chinese and British prime ministers and the China-UK strategic dialogue to strengthen communication and cooperation.

  — — Speech at a meeting with British Prime Minister David Cameron in the Netherlands on March 25th, 2014.

  Both sides should climb high and look far.

  The two sides should look beyond the differences in national conditions, systems and values, deepen mutual understanding, respect each other, treat each other as equals, take care of each other’s major concerns and core interests, enhance mutual trust, plan the future of Sino-British relations, and promote the long-term and healthy development of bilateral cooperation.

  — — Speech at the meeting with British Prime Minister David Cameron at Diaoyutai State Guesthouse in Beijing on December 2, 2013.

  (This article comes from WeChat WeChat official account’s "No.1 Online", which is a new media platform for promoting major themes of CCTV, and is operated by the Publicity and Coordination Department of the editorial office. )

Huatai Futures: The supply gap of zinc market still exists under the background of low inventory.

  Author: Huatai futures engineer Chen Mu Asaruo


  First, the first half of the market summary


  In the first half of the year, due to the conflict between Russia and Ukraine, repeated epidemics in many places in China, and tightening macro liquidity, the overall price of zinc showed a trend of rising first and then declining. From January to mid-April, refineries that had previously cut production in Europe were still plagued by high power costs. The outbreak of the conflict between Russia and Ukraine in late February and the sanctions imposed on Russia by Europe and the United States made the market more worried about energy shortage. The high fluctuation of energy prices keeps the worries about the shortage of refined zinc supply in Europe fermenting. In addition, the violent fluctuation of nickel in mid-March drove the price of zinc up. Zinc alloy climbed from $3,524.5/ton at the beginning of the year to $4,513/ton, once hitting an all-time high of $4,896/ton, with an increase of over 28%. However, as the demand for natural gas entered the off-season, the PMI data of manufacturing industries in major economies in the world peaked, and the Fed’s interest rate hike was radical, the market’s expectation of global demand turned pessimistic, and Lunzinc entered the downward channel. Under the impact of multiple negative macro, the gains of the previous round were retreated. The trend of Shanghai zinc and Lunzinc is similar, but in the rising and falling market, the increase and decrease are not as good as Lunzinc. In the first half of the year, due to the environmental protection control of the Winter Olympics and the outbreak of many domestic epidemics, the demand was weak. However, in the early stage of the epidemic, the market’s expectation of post-epidemic consumption recovery was more positive, which was supported by Shanghai Zinc. However, due to macro pressure, the market began to worry that the economy will fall into recession in May, and the price of zinc was under pressure.


  Second, the prospect of zinc market in the second half of the year


  From a fundamental point of view, zinc will be a relatively strong variety in the second half of the year. However, the unilateral market is still subject to the macroeconomic situation and the impact of domestic infrastructure.


  Macroscopically, after the Federal Reserve raised interest rates by 75 basis points in June, the inflation rate is still at a high level. The tightening of overseas liquidity has caused concern about the global economic recession. The changes in economic data in the second half of the year and the adjustment of Fed policies will change the market’s expectations of the economic recession, so it is necessary to pay attention to the impact of macroeconomic performance on zinc prices in the future.


  Overseas, the energy risks brought by geopolitics will continue in the second half of the year, and European smelters will be difficult to resume production in the short term due to high cost pressure. On the demand side, due to the dual pressures of tight liquidity and high inflation, it is expected that overseas demand will fall under pressure in the second half of the year. At present, the problem of low overseas inventory still exists, and the global total inventory of LME zinc ingots is at a historical low. Under the background of low inventory and high fluctuation of energy prices, the market is still relatively pessimistic about the subsequent overseas zinc ingot supply, and the soft-forced market may still be staged repeatedly, and the price of zinc is supported to some extent. It is necessary to pay attention to the short-term fluctuation interference of prices caused by unexpected reduction of supply side and sudden increase of cancelled warehouse receipts.


  On the domestic supply and demand side, considering the slow resumption of work in domestic mines and the difficulty in increasing production due to factors such as the decline in ore grade, and the inflow of imported ore still takes some time, it is expected that the supply of raw materials in domestic smelters will be relatively limited in the second half of the year, and the processing fee may be further lowered. In addition, the production of some refineries in Guangxi was temporarily interrupted by heavy rain recently. It is estimated that the domestic refined zinc output will be around 6.15 million tons during the year, with a year-on-year increase of 0.5%. In terms of import and export, considering the slow recovery of the Hulun ratio, there may be a chance to change from net export to net import in the second half of the year. However, due to the slowdown of overseas consumption and the limited recovery of domestic consumption, it is expected that the import and export window will be difficult to open continuously. It is estimated that the annual net import will be 115,000 tons, a decrease of 355,000 tons compared with last year. From the perspective of terminal consumption, it is expected that zinc consumption will increase in the second half of the year, among which infrastructure and automobile sectors will contribute the main increase in zinc consumption, while real estate and household appliances are relatively dull. Due to the strong infrastructure nature of zinc demand, there is room for domestic demand to repair in the second half of the year. However, considering that the consumption affected by the impact of the epidemic in the first half of the year may be difficult to make up, the primary consumption continues to be sluggish, and the global demand is weakening, the overall growth rate of consumption is lowered to about -7% in a relatively pessimistic situation, with an annual consumption of 6.37 million tons and a supply gap of about 105,000 tons. If there are obvious signs of stimulating recovery in terminal sectors such as infrastructure, the supply gap may be further enlarged.


  At present, the global zinc ingot inventory level is still at a low level, and the profit margin of zinc smelters at home and abroad is relatively limited. Compared with other non-ferrous metals, zinc may be relatively resistant to falling. In the second half of the year, it is estimated that Shanghai Zinc will have some support between 19,000-20,000 yuan/ton. Considering the fundamental support and the high elasticity after macro-stabilization, it is recommended to allocate more zinc in cross-variety allocation, but we should pay attention to the impact of macro risks on prices.


  Third, the supply side situation


  (A) the output of overseas mines is less than expected.


  Judging from the financial report of overseas zinc mine enterprises in the first quarter, although the output of overseas zinc concentrate rebounded significantly in 2021, the pace of recovery has gradually slowed down since the second half of the year. In Q1, 2022, the output of overseas zinc concentrate showed a negative growth year-on-year, and the planned new output of 135,000 tons decreased compared with the planned increase of 216,000 tons at the end of last year. The main reasons are: 1) the increase in employee absenteeism caused by the COVID-19 outbreak, which led to the shortage of labor in some mining enterprises, such as Dugald River;; 2) Some mines stopped production due to heavy rainfall, such as Vazante and Antamina;; 3) Judging from the ore grade in recent years, the continuous decline in the grade of some mines has led to a decrease in output, such as Rosebery.


  Combined with the production guideline and capital expenditure budget of enterprises in 2022, it is found that most mining enterprises have not increased the scale of capital expenditure of zinc mine business, and under the situation of tight capacity expansion, some mining enterprises have lowered their production targets in 2022 to varying degrees based on the gradual reduction of ore grade and the future shutdown plan. Therefore, it is expected that the current round of zinc mine capacity expansion cycle is coming to an end, and the increase in overseas mine supply will be less than market expectations during the year.


  Although the output and increment of overseas zinc mines were less than expected, in the first half of 2022, the continuous high energy prices in Europe affected the production of local smelters, and the historical price difference between domestic zinc concentrates and imported concentrates in China also kept China buyers away from the imported spot market, which eased the tension in overseas zinc concentrate market. If the subsequent energy crisis is alleviated, smelting enterprises will resume production one after another, and the shortage of mine ends will be enlarged.



Huatai Futures: The supply gap of zinc market still exists under the background of low inventory.


Huatai Futures: The supply gap of zinc market still exists under the background of low inventory.


Huatai Futures: The supply gap of zinc market still exists under the background of low inventory.


  (B) domestic ore supply is tight.


  In the first half of the year, the overall supply of domestic ore was tight. On the one hand, the overall supply of domestic mines declined due to the staged interference of the Winter Olympics, the two sessions, the shortage of auxiliary materials such as explosives, and the epidemic situation in many places. According to SMM data, the domestic zinc concentrate output from January to May totaled 1.32 million tons, down 3.5% year-on-year. Since the beginning of the year, the processing fee of domestic zinc concentrate has also dropped to 3,400 yuan/metal ton, which is the lowest in recent years. On the other hand, due to the lower Shanghai-Shanghai exchange rate and the expansion of import losses, domestic smelters are weak in purchasing imported ores, which also aggravates the shortage of domestic ores. According to customs data, from January to May 2022, the cumulative import of zinc concentrate reached 1,523,986,000 (physical tons), a cumulative year-on-year decrease of 7.38%.


  At present, although mining enterprises are relatively willing to produce under the incentive of higher profits, from the new production plan, there are basically no large-scale new projects in domestic mines in the second half of the year, and objective factors such as epidemic situation still exist. In addition, the grade of some domestic mines has declined, and it is expected that the supply of domestic mines will remain tight in the second half of the year. In terms of imported ore, it is expected that with the recovery of internal and external ratio, the loss of raw material import will gradually narrow, and the willingness of domestic smelters to use imported ore will be enhanced, which will supplement the domestic raw material supply. However, considering that the output of most large overseas mining enterprises in the first quarter showed a downward trend year-on-year, the amount of new minerals added overseas during the year may be less than expected. It is expected that the replenishment of imported minerals in China will be relatively limited in the second half of the year, and the supply of raw materials will remain tight.



Huatai Futures: The supply gap of zinc market still exists under the background of low inventory.


Huatai Futures: The supply gap of zinc market still exists under the background of low inventory.


  (C) High fluctuations in energy prices pay attention to overseas zinc smelting and production.


  Since the fourth quarter of last year, the continuous reduction of production in European smelters affected by high-cost electricity prices has led to a decline in global zinc production. Although at the end of March, Nyrstar announced that its Auby zinc smelter in France would resume the production capacity of zinc smelting in April, it only controlled its production and operation within the scope of the French government’s electricity price subsidy. In addition, spot premiums in Europe and North America rose to record highs in the first half of the year. In Europe, the demand for galvanized steel in the construction and renewable energy industries has increased, and although Russia’s contribution to the market outside China is less than 1% in zinc concentrate and zinc ingot, the Russian-Ukrainian conflict has had an impact on the electricity cost of European zinc smelters, and European zinc smelters have maintained a reduction in production, leading to an increase in the price premium of zinc metal in this region. North America, on the other hand, was mainly affected by logistics and the closure of a zinc smelter in Canada, which led to a decline in metal production and affected metal supply. Therefore, on the whole, the supply of overseas refined zinc was tight in the first half of the year.


  In the previous heating season, the energy logic promoted the zinc price to rise obviously. As we enter a new heating season in October, it is expected that supply uncertainty will persist and the demand side will rise again. At that time, the contradiction between supply and demand will intensify or drive European energy back to high volatility. The profit of zinc smelter is under pressure again, and the risk of production reduction increases. It is necessary to continue to pay attention to the trend of energy prices in Europe and whether Glencore and Nyrstar, which frequently cut production in the last heating season, will cut production again.



Huatai Futures: The supply gap of zinc market still exists under the background of low inventory.


  (D) Domestic zinc ingot production remained low.


  According to SMM, from January to May 2022, the cumulative output of refined zinc was 2.483 million tons, a cumulative year-on-year decrease of 1.09%, and the output of refined zinc continued to be lower than market expectations. Although the price of sulfuric acid remained at a high level in the first half of the year, the by-product income supplemented part of the profit of the smelter, but considering the cost increase caused by the double control of energy consumption and load reduction, the production profit of the main zinc ingot in the refinery was basically at a loss. In addition, since the output of mines at home and abroad has been less than expected this year, the shortage of raw materials makes it difficult to increase the output of zinc ingots significantly. In the second half of the year, the bottleneck of domestic refined zinc supply still lies in the raw material end and cost. In addition, some refineries in Guangxi stopped production due to heavy rain in late June, and the expected output remained relatively low.


  In terms of import and export, according to the General Administration of Customs, China imported 47,000 tons of refined zinc from January to May, compared with 231,000 tons in the same period last year, and exported 54,000 tons of refined zinc, while only 30,000 tons were exported in the same period last year. In the first five months, refined zinc turned into a net export of 7,000 tons, compared with a net import of 229,000 tons in the same period last year. The main reason is that the capacity of European smelting end is limited, and the low Shanghai-Shanghai ratio in the first half of the year keeps the import window closed, while the export window was once opened, and domestic refined zinc exports supplement overseas supply. With the gradual restoration of the Hulun ratio in the second half of the year, it is expected that the import of zinc ingots will improve month on month.



Huatai Futures: The supply gap of zinc market still exists under the background of low inventory.


  Fourth, the consumer side


  (A) the recovery of the primary processing end is slow.


  The epidemic situation in COVID-19 has had a great impact on all aspects of the zinc industry chain, mainly focusing on the supply and transportation of raw materials and the consumption of finished products downstream. Judging from the downstream consumption of zinc in the first half of the year, the East China market with Shanghai as the center and the North China market with Tianjin as the center have been hit by epidemic in different degrees since March. The processing enterprises are affected by factors such as rising raw material prices, blocked transportation and rising freight rates, and their start-up performance is relatively low, and the peak consumption season has not been fulfilled. Since mid-May, with the improvement of the epidemic situation and the initial confirmation of the resumption of production in Shanghai, the start-up of processing enterprises has recovered slightly, but some export orders are still lost.


  Judging from the situation at the primary processing end, it is expected that zinc plating will start in the second half of the year or be boosted by the terminal infrastructure, while zinc alloy and zinc oxide will be flat.


  Galvanizing started to rebound slightly.


  The start of galvanizing industry has rebounded slightly recently, but it has not yet recovered to the same level as last year. On the one hand, due to the global economic downturn, the overall demand in overseas markets has weakened, and overseas enterprises have gradually resumed work and production, and domestic export orders have weakened. On the other hand, under the impact of the domestic epidemic, the data of the real estate and automobile industries are sluggish and domestic demand is insufficient.


  Although it is difficult to solve the dilemma of the construction industry in a short period of time, and zinc plating is mostly used in the post-real estate cycle, it is expected that the real estate sector will drive the consumption of zinc plating relatively dull. However, infrastructure projects may bring more demand for zinc plating, and we can expect infrastructure to drive consumption of zinc plating.


  Zinc alloy orders are relatively optimistic.


  After the epidemic, the overall recovery of zinc alloy market is limited. Although the epidemic situation in East China has improved since late May, the operating rate of some zinc alloy factories has rebounded slightly, but the terminal orders of alloy enterprises such as doors, windows, kitchens, furniture and hardware have not fully recovered, which has dragged down the demand for zinc alloy.


  However, with the steady growth of domestic demand expected to improve, coupled with the recent introduction of "green home appliance subsidies" and other policies in many places in China, zinc alloy consumption will be stimulated to some extent. In addition, with the gradual recovery of the automobile industry chain, auto parts hardware may become the main growth point of alloy demand in the second half of the year.


  Zinc oxide consumption is weak


  Affected by the epidemic situation in many places in China, the terminal tire enterprises started to decline in the first half of the year, resulting in less orders in the zinc oxide market and average market transactions. Considering that the recovery process of the terminal tire market is relatively slow this year, there are few new orders, and most of them are delivered in the early stage. In addition, the number of days of finished product inventory in tire enterprises is high, and it is expected that the consumption of zinc oxide will be weak in the second half of the year.


  (2) The export continued to slump.


  According to customs data, from January to May, 2022, the total export volume of galvanized sheet in China was 3,655,600 tons, and the total import volume was 636,300 tons. From January to May, 2022, the net export volume was 3,019,200 tons, with a cumulative year-on-year decrease of 16.51 percentage points.


  In the first half of the year, the Russian-Ukrainian conflict, soaring energy costs, high inflation and other factors accelerated the Fed’s tightening of liquidity. The manufacturing PMI of major economies such as the United States, Japan and Europe all peaked and overseas demand weakened. In addition, with the gradual liberalization of epidemic prevention and control measures in Southeast Asian countries, the manufacturing industry continues to pick up, and due to the continuation of labor advantages in Southeast Asia, there is a certain outflow pressure on the initial and downstream orders such as zinc plating and die-casting zinc alloys in China. Therefore, it is expected that the export demand of zinc primary processed products will continue to be sluggish in the second half of the year.


  (C) Pay attention to the development of terminal infrastructure under the policy of steady growth


  Marginal recovery of real estate sector in the second half of the year


  Affected by the epidemic, this year’s real estate data showed a downward trend. According to statistics, from January to May, 2022, the national land purchase area was only 23.89 million square meters, a sharp drop of 45.65% year-on-year. The year-on-year decline has continued at more than 40% this year, which is the same as last month, both of which are historical lows. From January to May 2022, the newly started housing area in China was 516.28 million square meters, down 30.56% year-on-year, and the decline continued to expand, increasing by 4 percentage points over the previous month; The completed area was 233.62 million square meters, down nearly 15.30% year-on-year, expanding again from last month. The national housing construction area was 8,315.25 million square meters, a year-on-year decline of 1 percentage point. From January to May, 2022, the sales area of commercial housing in China was 507.38 million square meters, down 23.57% year-on-year, of which the residential sales area accounted for 85%, down 28.13% year-on-year, and it continued to show negative growth this year. From January to May, the sales amount of commercial housing was 4,833.7 billion yuan, down 31.47% year-on-year, and the sales amount of residential housing was 4,231.7 billion yuan, down 34.46% year-on-year, both of which continued to expand compared with last month.


  On the other hand, in the first half of this year, more than 100 cities in China successively introduced preferential policies for the real estate sector. However, in March and April, when the impact of the epidemic in China was increasing and the economic outlook was pessimistic, the preferential policies for the real estate sector began to increase. The types of preferential policies were expanded from the previous focus on provident fund, housing subsidies and talent attraction to the cancellation of the purchase restriction/sale policy, tax incentives, the use of financial instruments and strengthening the protection of rental housing construction. Since the beginning of June, it has been obvious that the sales area of commercial housing in 30 cities has started to rise rapidly, which has exceeded 820,000 square meters by the end of June, a sharp increase of 66% compared with last month, indicating that the strength of various favorable policies for real estate may be gradually increasing.


  Generally speaking, although the performance of the real estate sector was depressed in the first half of the year due to epidemic factors, it can also be seen from the monitoring of relatively high frequency that the demand may gradually pick up, and it is expected that the real estate sector will pick up marginally in the second half of the year. The demand for zinc in real estate during the construction process is mainly galvanized building materials. After the completion of real estate, there is a large demand for zinc alloy pipes, all kinds of hardware, galvanized steel, air-conditioning refrigerators and other household appliances. It is expected that the demand for zinc in the real estate sector will improve in the second half of the year.


  Infrastructure is an important driving force to stimulate zinc consumption.


  According to the data of the National Bureau of Statistics, infrastructure investment (excluding electricity) increased by 6.7% from January to May 2022, and infrastructure investment (including electricity) increased by 8.2%. In terms of project commencement, in May 2022, 6,896 projects were started all over the country, with a total investment of 2,846.5 billion yuan, a year-on-year increase of 21%. From January to May 2022, the investment in major projects was 31,761.9 billion yuan, up 11.8% year-on-year. In terms of project volume, from January to May, the National Development and Reform Commission approved a total of 48 fixed assets investment projects with a total investment of 654.2 billion yuan, a year-on-year increase of 215.1%, a record high, which also reflected the country’s willingness to stabilize investment. Judging from the situation of projects in previous years, most projects usually land in 4-5 months, so it is expected that the huge projects approved by the National Development and Reform Commission in the first five months will land in the late third quarter, further stimulating the growth rate of infrastructure.


  With the gradual easing of the epidemic situation in East China, which is dominated by Shanghai, the impact of the epidemic situation on the start of projects in various places is also gradually weakening. Considering the current downward pressure on the economy, in the absence of obvious improvement in real estate, it is expected that infrastructure will also increase its strength in the second half of the year to ensure the stable operation of the economy. Therefore, the infrastructure sector, as the sector with the largest proportion of zinc terminal consumption, is still highly resilient and is an important driving force for stimulating zinc consumption throughout the year.


  Restorative growth of automobile sector


  In terms of automobiles, although the sales trend in December last year was basically continued in January, the sales volume of passenger cars reached 2.262 million. However, in February, some areas were affected by the epidemic, and cities such as Jilin Province began to close cities to control the epidemic, which led to the interruption of the automobile supply chain. After that, there was a cluster epidemic in many places in China, and the international geopolitical instability increased, which affected the production and operation activities of automobile enterprises to some extent. At the same time, the rising prices of raw materials such as power batteries have pushed up the production costs of enterprises and affected the sales in the terminal market. In April, China’s automobile production and sales reached a monthly low of 1.205 million and 1.181 million respectively, down 46.2% and 47.1% from the previous month and 46.1% and 47.6% from the same period last year. However, with the improvement of the epidemic situation and the guarantee of transportation faced by policies since late April, automobile enterprises in Jiangsu, Zhejiang and Shanghai have resumed production to varying degrees, and the operating rate has steadily rebounded. According to the data of China Automobile Association, in May 2022, China’s automobile production and sales reached 1.926 million and 1.862 million respectively, up 59.7% and 57.6% from the previous month and down 5.7% and 12.6% from the same period last year. From January to May, the cumulative production and sales of 9.618 million vehicles and 9.555 million vehicles decreased by 9.6% and 12.2% year-on-year, showing obvious recovery growth. Among them, the cumulative number of new energy vehicles exceeds 2 million. It is expected that in the second half of the year, the consumption of zinc will still be boosted.


  Household appliances are dull.


  In terms of household appliances, according to statistics, the output of household refrigerators (household freezers) in China from January to May 2022 was 34.01 million units, down 8.1% from the same period of last year, and the growth rate was 37.3 percentage points lower than that of the same period of last year. According to CIEDATA import and export statistics, from January to May 2022, the number of refrigerators exported in China was 26.49 million units, down 12.0% year-on-year. From January to May, 2022, the national household washing machine output was 34.717 million units, down 4.1% year-on-year. In May, the production of household air conditioners was 15,544,500 units, a year-on-year increase of 0.54%; Exports reached 6.252 million units, down 11.98% year-on-year. Household appliances are expected to have "retaliatory consumption" in the short term. However, with the weakening of the epidemic, the economic order has returned to normal, and the consumption stimulus policy is superimposed, it is expected to achieve a certain degree of consumption recovery in the second half of the year. If the international market is eased with the cost of shipping and raw materials, and the demand for domestic air-conditioning products with high quality and low price will increase under the background of global inflation, the downward trend of exports will change slightly.


  V. Inventory


  (1) It is expected that the domestic inventory will continue to be depleted.


  As of June 27th, the domestic stock of zinc ingots in seven places was 197,400 tons, an increase of 66,400 tons compared with 131,000 tons at the beginning of the year. Since the Spring Festival, due to the weak downstream consumption performance, zinc ingot inventory has been at a high level. After the May Day holiday, due to the holiday and epidemic situation, many places suffered from poor transportation and poor downstream procurement. At one time, the social inventory in seven places in China increased by 281,100 tons. Since mid-May, the epidemic situation has been gradually effectively controlled, and the problem of poor transportation in many places in the early stage has been alleviated. In addition, the downstream procurement has increased slightly due to the callback of zinc prices, and the social inventory has continued to decline. Under the expectation that Shanghai and other places will resume work and resume production, and the consumption of medium and long-term infrastructure will improve, it is expected that the domestic social inventory will continue to be depleted in the second half of the year.


  (B) LME inventory decline concerns the risk of crowding under low inventory.


  As of June 29th, LME zinc delivery inventory was 81,075 tons, which was 118,250 tons lower than 199,325 tons at the beginning of the year. The reduction rate has slowed down since May, but the overall inventory is at a low level since April 2020. Mainly affected by factors such as the continuous reduction of production in overseas smelters, LME inventories have continued to decline this year as a whole, with LME inventories in Europe and America at relatively low levels in the same period. Therefore, we need to be alert to the risks brought by low inventory.



Huatai Futures: The supply gap of zinc market still exists under the background of low inventory.


Huatai Futures: The supply gap of zinc market still exists under the background of low inventory.

(Editor in charge: Chen Chen)

   [Disclaimer] This article only represents the views of the third party and does not represent the position of Hexun. Investors should operate accordingly, at their own risk.

Cat fractures cost tens of thousands, and pets are more expensive than people.

  Zhongxin. com, June 21st (Zhongxin Finance Peng Jingru) "The cat gets sick and drives the whole family ‘ Poverty caused by illness ’ 。” A "shovel officer" with a cat commented on the medical consumption of his pet.

  Many pet owners have a deep resonance with this: "If you see your pet once, you will lose your salary for one month." "From a few hundred dollars to thousands of dollars." "Food expenses are small, and the pressure to go to the hospital is huge. Cats and dogs are more expensive than people." Nowadays, the problem of expensive pet medical treatment is puzzling many people.

  Cat fracture costs tens of thousands of experts registration fee 300 yuan

  "Pet hospitals are mixed, and sometimes minor illnesses and pains will be treated with various treatments. When I took my cat to treat stones, I even encountered a situation where the price was over 10,000. " Mr. Sun, who has had two cats before and after, told Zhongxin Finance that his second cat got sick very few times. In Shenzhen, it finally cost nearly 3,000 yuan to treat cats with stones. Previously, the sterilization of cats cost more than 1,000 yuan.

  Mr. Sun said that some pet hospitals use pet owners’ love and affection for their pets to "profit from illness". When their first cat suffered from liver disease, some doctors said that the treatment would take at least two months, and the cost would be tens of thousands. However, after many inquiries and comparisons, I later found that it would cost a few hundred yuan for cats to continue taking medicine for this condition.

  Zhongxin Finance randomly visited several pet hospitals in Beijing and found that because pets can’t talk and can’t reflect their own illness, pet owners can only roughly describe their symptoms. In the diagnosis and treatment, pet hospitals often propose to check the medical equipment first to determine the cause.

  The pet is being treated in the hospital. Photo courtesy of respondents.

  Taking the problem of cat’s regular fracture as an example, a pet hospital in East Fourth Ring Road, Chaoyang District, Beijing, told Zhongxin Finance that it is necessary to take photos of cats first, and the 120 yuan is charged for each leaflet. If staff are needed to help fix pets, an additional "Baoding fee" will be paid. The cost of surgery generally ranges from 5000 to more than 10000 yuan. A pet hospital in Xicheng District, Beijing, said that it takes at least two films to determine the fracture situation, and the price of a single sheet is about three or four hundred yuan.

  The third pet hospital first asked Zhongxin Finance what source it needed to hang for pets. The registration fee for orthopedic experts was 300 yuan, including the diagnosis fee. Chief physician registration fee 50 yuan, diagnosis fee 150 yuan, 200 yuan. The cost of routine fracture surgery for cats needs less than 10 thousand yuan, which does not include hospitalization, medical care and other expenses in the later period.

  Is it still difficult for pet hospitals to make money under high fees?

  "In addition to the various fees charged by pet hospitals, it is also one of the reasons why pets do not have non-commercial medical insurance." Mr. Sun said.

  A person in charge of a pet hospital in Zhanlan Road, Xicheng District, Beijing, told Zhongxin Finance that many pet owners think that it is more expensive for pets to see a doctor. On the one hand, pet hospitals are generally private, without various policy subsidies from public hospitals, and pets rarely have medical insurance; On the other hand, the use cost of inspection and treatment equipment, drugs and consumables in pet hospitals is also higher than that in ordinary hospitals.

  "Many people often have to wait in line to go to public hospitals for examinations, but pet hospitals do not have this problem.The utilization rate of pet inspection equipment is low, so the cost is much higher.. Coupled with the commercial charges of water and electricity and the high rent, the profit of pet hospitals is actually not high. "The person in charge said.

  Zhongxin Finance noted that Xinruipeng Pet Medical Group Co., Ltd. (hereinafter referred to as "Xinruipeng"), a unicorn enterprise of the pet medical track, officially submitted a prospectus in January this year. The prospectus shows that in the first three quarters of 2020, 2021 and 2022, Xinruipeng’s income was about 3.008 billion yuan, 4.784 billion yuan and 4.315 billion yuan respectively, and its net loss was about 1.005 billion yuan respectively. After calculation, the cumulative loss during the reporting period was 3.42 billion yuan. This means that Xin Ruipeng is in a state of increasing income but not increasing profits in recent years.

  Some insiders told the media that the pet hospital’s statement has certain realistic factors, but it ignores the doctor’s diagnosis and treatment level and professional ethics factors, which also provides cover for the chaos such as minor illnesses and excessive inspections in the pet medical market.

  Regulatory intervention to standardize the pet medical market

  Sino-Singapore Finance made an inquiry on a complaint platform with "pet hospital" as the key word. As of press time, there were 1501 related complaints, including misdiagnosis, induced consumption, unreasonable charges, excessive medical treatment and so on.

  In response to the chaos of pet diagnosis and treatment, the Ministry of Agriculture and Rural Affairs and the General Administration of Market Supervision issued the Notice on the Special Rectification Action for Regulating the Order of Pet Diagnosis and Treatment in Some Cities in October 2022, and deployed to carry out the special rectification action for regulating the order of pet diagnosis and treatment in 20 cities including Beijing from October 2022 to May 2023.

  According to the website of Beijing Municipal Market Supervision Administration, in the first half of 2023, the Beijing Municipal Bureau of Agriculture and Rural Affairs and the Municipal Market Supervision Bureau carried out a special rectification campaign to standardize the order of pet diagnosis and treatment in the city, and inspected 672 pet diagnosis and treatment institutions. During the special rectification period, the city investigated and dealt with 25 cases of price violations, and the amount of fines and refunds was 29,615 yuan.

  Sun Yanzheng, vice president of the Teaching Animal Hospital of China Agricultural University, told the media that it is the general trend to strengthen the supervision of the pet medical market in the face of frequent consumer questions. On the one hand, the spontaneous adjustment of the market should strictly abide by the "Measures for the Management of Animal Diagnosis and Treatment Structure" and other relevant regulations, and employees should firmly establish the awareness of engaging in pet diagnosis and treatment according to law; On the other hand, administrative supervision and industry self-discipline should keep up, increase the transparency and openness of all aspects of pet diagnosis and treatment, put an end to induced consumption, and let doctors return to the initial heart of doctors during surgery, examination and medication. (End)

Taizhou Zoo’s "Panda Dog" was controversial and responded: it was specially introduced and dyed when it was introduced.

  Recently, some tourists sent a video saying that there were two strange "pandas" in the Taizhou Zoo in Jiangsu. Its hair is black and white, and its appearance is similar to that of a panda, but it walks like a puppy. On the tickets of Taizhou Zoo exposed by netizens, the words "Panda Dogs Meet" are printed. Some people think that it is suspected of false propaganda to dye dogs as pandas to attract tourists. In this regard, the staff of the inspection brigade of the Market Supervision Bureau of Taizhou Pharmaceutical High-tech Zone said that the "panda dog" was not marked as a panda and did not involve false propaganda. On May 7, the reporter contacted Taizhou Zoo. The staff said that the two "panda dogs" were introduced by the zoo leaders, and they were already dyed lewd when they were introduced. Other details are not clear.

  The official profile of the "Panda Dog" in Taizhou Zoo released by netizens shows that "‘ Panda dog ’ It is not a specific purebred dog, but a pet dog that looks like a panda. This term is usually used to describe dogs that have been trimmed to a specific style or have a natural color distribution similar to that of pandas. Their typical feature is white undercoat with black stripes, especially around the eyes and ears, imitating the facial features of giant pandas. "

  In this regard, some netizens ridiculed: "How can these two pandas be arrogant?" Some netizens also questioned that the garden used the "panda dog" as a gimmick to attract tourists and was suspected of false propaganda.

  According to the live broadcast of Hubei Jingshi, the staff of the inspection brigade of the Market Supervision Bureau of Taizhou Pharmaceutical High-tech Zone said that the "panda dog" was not marked as a panda and did not involve false propaganda. "The zoo also explained that it is a kind of dog, which seems to make up for the regret that there are no giant pandas in Taizhou, because if the zoo’s qualifications and level are not enough, it will not be able to introduce giant pandas, and the giant pandas have higher requirements on the breeding environment. This is a marketing method of the zoo."

  According to xiaoxiang morning herald, the staff of Taizhou Zoo said that the "Panda Dog" was inspired by the Internet, and its "real body" was Song Shiquan. For the netizen’s nickname "I borrowed it from a pet shop and returned it after the holiday", the staff explained, "No, it was specially introduced". As for whether to continue the exhibition as "Panda Dog" or Song Shiquan, she said that it is not clear for the time being, and it is up to the leaders to decide.

  Some tourists disclosed that there is no separate charge for visiting "Panda Dog", which is included in the zoo tickets. Adult tickets to 20 yuan, children under one meter four are free, and children over one meter four receive 10 yuan. At present, two "panda dogs" have been named "Xiao Tang Bao" and "Xiao Gan Si" respectively. (The Paper reporter Chen Leizhu intern Liu Xinyu)

Original Yuan Wah: He used to be body double, Bruce Lee, Jackie Chan’s fellow brother, and met Stephen Chow before he got into a fire.

Yuan Wah: I used to be body double, Bruce Lee, Jackie Chan’s classmate, and it was only when I met Stephen Chow that I got into a big fire.

Sixteen years ago, Kung Fu, directed and starring by Stephen Chow, was born.

This movie has inspired many actors, such as Eva Huang, who plays "Sargam", and Chen Guokun, who plays "Old Axes".

In addition to them, many viewers think that "the chartered woman" and "the chartered man" are the most outstanding characters in this movie.

Yuan Wah, who plays the role of "charterer", has experienced the success of this movie.

Indeed, before that, he had been a deputy actor for many years, and was also the imperial body double of Bruce Lee.

Body double, who used to be Bruce Lee, was Jackie Chan’s brother.

In the 1960s, there was a wonderful Wusheng pear garden, that is, Qixiaofu pear garden.

Sammo Hung, Jackie Chan, Yuan Biao and others are all members of this pear garden, but many people don’t know that Yuan Wah is Jackie Chan’s brother.

In July, 1970, they were hit by the cinema, and they all devoted themselves to the martial arts cinema.

Later, some people have been mixed into old people, such as Sammo Hung and Jackie Chan.

And some people are already "hiding" and can’t find any trace in the entertainment circle.

But Yuan Wah is an example of these two kinds of people-centered, saying that old age is not, but it will not fall into the realm of no drama.

At that time, Yuan Wah had a very good figure, and was once one of the "Seven Little Blessings" with very good skills. He could do many difficult actions.

In 1972, 20-year-old Yuan Wah entered the film industry, first as a walk-on.

Because Bruce Lee’s figure is very similar, and his somersault is excellent, he took part in Jingwumen as Bruce Lee body double.

Speaking of which, probably a lot of people will be bored. Bruce Lee is so good at kung fu, why use body double?

Bruce Lee can do somersaults, but he can only do cartwheels, and backflips can only be described as ordinary.

Yuan Wah’s somersault was very good among those martial arts students, so he was noticed.

A year later, he once again served as body double of Bruce Lee and participated in enter the dragon.

His somersault was extremely beautiful, and he landed firmly after crossing the height of ordinary people, so he was highly praised by Bruce Lee.

At that time, he also got the name of "King of Fighting".

In the long run, he and Bruce Lee became acquainted, and they would often discuss it, and Bruce Lee would teach him some work.

At that time, Bruce Lee also planned to take him into Hollywood, which was also a great opportunity for Yuan Wah.

But helpless Bruce Lee died suddenly in the home of Xiang Huaqiang’s ex-wife Ding Pei in 1973, and Yuan Wah lost the opportunity to come to Hollywood.

In the future, he can only come in Shaw, but the resources are all a few minor roles.

Later, I came to the Hongjiaban, and I only played a little role of body double and a walk-on in the movie.

For example, "Leng Qian" in Yi Tian Slaughters the Dragon, "Grandfather" in Zombie Master, and "Chinese Leader" in Flying Dragons and Tigers, etc.

He has played a lot of big names, but all he played were a few small feet that were hard to remember.

It was only when I met Stephen Chow that the fire broke out

In 1991, 39-year-old Yuan Wah and Stephen Chow formed an alliance for the first time, and participated in Descendants of the Dragon, in which they played the straightforward "coach of Tai ‘ao Village on Lantau Island".

This is the first time that he was first decomposed by the audience. In the movie, Yuan Wah has a line: "I used to be body double in Bruce Lee".

This made many viewers know that he was Bruce Lee’s past body double.

In the same year, he also participated in Stephen Chow’s Love Saint, and played "King Gui Li’s brother" in the movie.

Although the alliance with Stephen Chow has slightly changed his miracle, he will still play a walk-on and a side role for many years to come.

And he also got the name of "the shadow queen", which means that shooting the back is very handsome.

Until 2004, Stephen Chow planned to make an action comedy, which was Kung Fu.

Stephen Chow’s first technical guide was Sammo Hung. Before shooting, Sammo Hung reported that Stephen Chow himself had the idea of filming, and the two agreed to shoot it the next day.

But before going to bed, Stephen Chow first twists and turns.

Because China’s action movies are always packed severely, he doesn’t want to make another movie of this kind, but he wants to add spoof factors to his martial arts.

When shooting started the next day, Stephen Chow cried and upset Sammo Hung’s shooting thoughts, trying to shoot according to his own thoughts.

Later, Sammo Hung and Stephen Chow were a little unhappy because of this incident. Actually, Stephen Chow was also blamed by many people for his stubbornness in the movie.

Returning to the motherland, when filming Kung Fu, Yuan Wah had completely followed Stephen Chow’s approach.

He is also very calm about Yuan Wah, because there is no such performance as "Seven Little Blessings" in Yuan Wah.

But Yuan Wah was brought by Sammo Hung, and Sammo Hung later said that he quit. Friends thought that Sammo Hung would leave and Yuan Wah would leave. The truth is that Yuan Wah is Sammo Hung’s younger brother.

But Yuan Wah didn’t leave, because his mind was that he would do it only if there was work, and the truth was that he had to support his family.

And Yuan Wah also has his own weird mind about movies, and he also knows that if he follows Sammo Hung’s thoughts, this movie will be no different from other martial arts movies.

He also knows that the audience only watch Stephen Chow’s movies because of this, and it must be impossible to follow the thoughts of Sammo Hung and Jackie Chan.

Therefore, Yuan Wah stayed, and all the thoughts of filming were based on Stephen Chow’s thoughts.

After the release of "Kung Fu", the audience also thought that such an action film was really full of vitality, and now it is still a classic.

Among them, nothing is more popular than the "charterer" and the "charterer". Yuan Qiu, the "charterer", is also a fellow teacher and sister of Yuan Wah, and their alliance is very tacit.

It is worth mentioning that Yuan Wah attached to this movie and won the Golden Academy Award and the Golden Bauhinia Award for Excellent Supporting Actor.

Not only Yunyun, but also won the Excellent Actor Award of the Global Chinese Golden Art Award, and he finally became popular.

At the time of winning the prize, there were really many new journalists who didn’t break him down.

At that time, many people doubted Yuan Wah’s acting skills, saying that he was grandiose.

But instead of losing his temper, Yuan Wah said excitedly, "I really played a bit exaggerated."

The reason why he has such a good temper is completely because of history, and his temper has been smoothed away.

Still fighting in the film and television industry in the twilight years.

Later, Yuan Wah also became an actor who was decomposed by the audience all over the world.

Many people don’t know his name, but they will be familiar with his appearance.

He has already played a big villain, and later he also received a very big villain’s foot color.

Yuan Wah is basically unwilling to flirt, because he still needs to support his family and his salary is extremely low.

In Detective Chinatown 2, Mo Yougan, played by Yuan Wah, also brought great joy to the audience.

As a golden supporting role in the Hong Kong film industry, it is also very natural to play against Wang Baoqiang, which adds a lot of laughter to the film industry.

In this movie, the actors are paid very high, but only Yuan Wah has only 100,000 yuan.

The reporter asked him why he didn’t want to be paid. He replied: "If the price is high, no one will ask me to film."

That year, Yuan Wah was 66 years old.

Not long ago, "Ghost Story: Human Love" starring Yuan Wah was broadcast, and many viewers revealed that they were amazed by Yuan Wah’s version of "Yan Chixia".

Now 68 years old, he is still fighting in the film and television industry, and his skills are still flexible, which makes people astonish.

Yuan Wah is a low-key person with profound acting skills, and has rarely become the headline of entertainment news for many years.

He has never revealed his private life, and many people don’t know his family environment.

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He has never been to any variety show to make money, but when he is interviewed, he talks big, which is also a clear stream in the entertainment circle.

If Bruce Lee had not died young at first, Yuan Wah would have done something for himself.

I just didn’t expect it. Fortunately, he didn’t give up and got a reward.

Editor in charge:

Elegance and performance coexist from the price of 125,800 yuan.

Nowadays, consumers pay more and more attention to space when buying a car, which is worth mentioning in terms of space performance. Let’s get to know each other.

First of all, from the appearance, the front of Fenglanda looks very simple and looks very domineering. Coupled with simple headlights, the design took the sports route. The car is equipped with LED daytime running lights, front fog lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Coming to the side of the car body, the size of the car body is 4485 mm * 1825 mm * 1620 mm. The car adopts round and lovely lines, and the car side looks very round and lovely. With large-sized thick-walled tires, the overall visual effect is very delicate. In terms of the rear end, the overall shape of the rear end echoes the front face, and the taillights give people a very fashionable and dynamic feeling. Coupled with the unique exhaust pipe, the overall layout is impressive.

When I came to the car of Fenglanda, the interior of Fenglanda was fashionable and concise, and the visual effect was very good. The car’s steering wheel is very soft, equipped with manual steering wheel up and down+front and rear adjustment and other functions, everything looks very hard. Let’s take a look at the central control. The car is decorated with a cold touch-control LCD central control panel, which makes the interior design quite layered and looks sharp. Let’s take a look at the dashboard and seats again. The dashboard of this car presents a young design style and is full of science and technology. The car uses imitation leather seats, which are wide and thick and very comfortable to ride.

The overall performance of the trunk space of Flanders is excellent, and the shape is regular, which is convenient for people to take their luggage. At the same time, the car is equipped with anti-lock braking (ABS), LED daytime running lights, brake assist (EBA/BAS, etc.), braking force distribution (EBD), traction control (ASR/TCS, etc.), main driver airbag, co-pilot airbag, knee airbag, side airbag curtain, front side airbag and other safety configurations.

Many people buy SUVs because of their stronger passability. The car is practical and fully equipped, and it is a good helper for home travel. If you like it, you might as well learn more about it.

2022 Tianjin Auto Show: New Land Rover Range Rover Sport Edition unveiled.

  [car home Information] At the 2022 Tianjin Auto Show, a brand-new (|) appeared at the auto show. The car has been officially listed before.The new car has launched a total of five configurations, with a price of 968-1.358 million yuan.As the third generation model, the new Land Rover Range Rover Sport Edition is built on the Land Rover MLA-Flex architecture, and the body stiffness and NVH performance are further optimized, which can easily cope with various road conditions and has better comfort and stability. The new car is available in fuel version and plug-in hybrid version.

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  In terms of appearance, the new Land Rover Range Rover Sport Edition inherits the genes of the Range Rover family. The new China Net is the same as the Range Rover, but the China Net is all blackened, which is more sporty. Headlights become more slender and streamlined, showing a sporty beauty, and digital LED headlights have higher visibility. The front bumper is X-shaped, and sports decorative strips and fog lights are embedded, with satin bronze side vent trim.

Home of the car

  The side of the car body is still a classic suspended roof design, and a hidden door handle is introduced. The beauty of streamline is perfectly integrated with masculine body lines and waistlines, showing the beauty of sports and strength. The body dimensions are 4946/2047/1820mm in length, width and height, respectively, and the wheelbase is 2997 mm. At the same time, the new car is also equipped with 23-inch aluminum alloy spokes, and red calipers can be seen inside. The double shark fin design on the roof also looks particularly chic. The new Land Rover Range Rover Sport Edition also uses special technology at the joint between glass and car body, which reduces the gap between car bodies.

Home of the car

  The taillights with bright black trim at the tail look quite simple, with a lot of white space at the tail. However, the three-dimensional lines show that the tail is not empty. There are two huge exhaust openings on both sides full of strength, which enhances the momentum of the tail.

Home of the car

  In terms of interiors, the new Land Rover Range Rover Sport Edition still retains a large number of interiors made of Windsor and semi-aniline luxury leather fabrics, and can also choose UltrafabricsTM innovative and environmentally friendly fabrics, and gives a variety of interior theme colors. The brand-new three-spoke steering wheel adopts two-color design and uses touch buttons, which are larger in size. The center console is equipped with a 13.1-inch suspended curved screen, a brand-new InControl OS 2.0 infotainment system, and a fully optimized high-definition touch screen menu hierarchy design, so that common function commands can be easily used in only two steps.

  The new car is also equipped with an all-LCD instrument panel and a brand-new head-up display system. By applying full-color high-definition images, key vehicle data such as current speed, gear position and navigation direction can be projected onto the windshield. At the same time, the new car also adopts a streaming media rearview mirror. The air conditioning system returns to the traditional physical touch buttons and is equipped with the in-vehicle air purification system PRO, which can purify the in-vehicle air in advance, neutralize odor, bacteria and allergens and filter PM2.5 through remote control. At the same time, the new car is also equipped with mobile phone wireless charging.

Home of the car

Home of the car

  In terms of seats, the front seats have 22-way electric adjustment, including seat ventilation, massage and other functions. The whole seat looks thicker and uses a flying wing headrest design. The new dual-color steering wheel is decorated with moonlight chrome elements, and with the suspended ceiling, it enhances the sports atmosphere and texture of the interior. The rear seats are also spacious and comfortable, the seat angle can be adjusted electrically, the central armrest is wide, and the rear row provides an independent air conditioning control system.

Land Rover (Imported) Range Rover Sport Edition 2023 First Edition

  In terms of power, the new Land Rover Range Rover Sport Edition is equipped with an Yingli 3.0T six-cylinder engine, offering three power versions: 360PS, 400PS and 510PS. Among them, the 360PS version has a maximum power of 360 HP, a maximum torque of 500 Nm, and an acceleration of 0-100km/h for 6 seconds; 400PS version, the maximum power is 400 HP, the maximum torque is 550 Nm, and the acceleration is 0-100km/h for 5.7 seconds; 510PS version, the maximum power is 510 HP, the maximum torque is 700 Nm, and the acceleration is 0-100km/h for 5.4 seconds; The first release P510e is a plug-in hybrid vehicle with a comprehensive power of 510 HP, providing 100 kilometers of pure electric cruising range in pure electric mode.

Land Rover (Imported) Range Rover Sport Edition 2023 First Edition

  The new Land Rover Range Rover Sport Edition introduces an integrated chassis control system, and the new generation of dynamic air suspension and the advanced dynamic feedback system frame work together to achieve more accurate independent vibration reduction and adjustment functions. The second generation adaptive dynamic system can effectively slow down the body shake by managing and controlling the adjustable double-valve shock absorber through software, and strive to ensure that the vehicle always maintains the best driving state. At the same time, four-wheel steering, active electronic differential system and torque vector distribution system effectively improve the flexibility of the car body.

Land Rover (Imported) Range Rover Sport Edition 2023 First Edition

  The second generation Terrain Response intelligent all-terrain feedback adaptive system provides 9+1 modes including 5 off-road modes, automatic, comfortable, sports and economic modes, as well as user-defined modes. It is the first time to carry off-road adaptive cruise, which can adjust the speed according to the road conditions to maintain a smooth form, reduce the driving difficulty of drivers and improve the stability of vehicles. The wading depth of the whole vehicle reaches 900mm, that is to say, it can still pass through the wading area under the condition of submerging 815mm outer diameter tires.

  The new Land Rover Range Rover Sport Edition comes standard with an omni-directional body imaging system, with wading sensor, front and rear parking radar, collision prevention emergency braking, etc. It also provides intelligent parking assistance packages, driving assistance packages and blind spot assistance packages. (Text/car home Li Na)