Seven departments jointly issued: strengthening the management of financial subsidies for benefiting the people and farmers

CCTV News:Yesterday (2nd), seven departments, including the Ministry of Finance, the Ministry of Agriculture and Rural Affairs, the Ministry of Civil Affairs, the Ministry of Human Resources and Social Security, the National Audit Office, the the State Council Poverty Alleviation Office, and China Banking and Insurance Regulatory Commission jointly issued the Guiding Opinions on Further Strengthening the "One Card" Management of Financial Subsidies for Benefiting the People. The "Guiding Opinions" clarify that a long-term mechanism for supervision will be established and improved to ensure that all policies for benefiting the people and benefiting farmers will be effective.

According to "Guiding opinions",by 2023, all financial subsidies for benefiting people and benefiting farmers that are directly paid to households will be distributed in principle through the" one card "method. The work of cleaning up and integrating subsidy policies and funds, standardizing financial institutions, building a centralized and unified distribution platform, and strengthening public publicity has been basically completed. The supervision pattern of central planning, provincial overall responsibility, and implementation by cities and counties has been basically completed, and the "one list management system" and "one platform management and distribution" have been realized. The subsidy policy is more scientific and the performance of funds has been significantly improved.

Carry out special treatment to ensure timely and full payment of subsidies

universal debit/credit card"It has played a positive role in serving the masses conveniently, but when the relevant departments carried out special treatment, they found that the" one card "still had problems such as piecemeal cross-subsidy projects and irregular management of subsidy funds, which affected the implementation effect of the policy.

In 2019, seven ministries and commissions, including the Ministry of Finance, jointly carried out the "one card" special treatment of financial subsidy funds for benefiting the people and farmers nationwide, and found that the problems were mainly concentrated in three categories.

Gao Jinxing, Director of the Supervision and Evaluation Bureau of the Ministry of Finance:For example, the phenomenon of multiple policies, multiple lines of cards, separation of people and cards, and multiple cards for one person have made loopholes in management, so that some funds that ordinary people should get have not been obtained.

Gao Jinxing introduced that during the inspection, it was found that some subsidized households held more than 10 subsidized cards, resulting in more than one card for one person, and the phenomenon of "one card for one thing" and "multiple lines for one card" was also common. Some county-level departments require farmers to set up a new bank card every time they issue subsidies, and some provinces have 27 subsidized banks. These problems are not conducive to the distribution and management of subsidies, causing inconvenience to the people to receive subsidies, and there is a risk that subsidy funds will be taken by others and taken.

However, due to irregular management, violations of discipline and rules have occurred from time to time, and serious violations of the interests of the masses have occurred in some areas, and the amount of violations detected has reached more than 300 million yuan.

In addition, during the special treatment period, it was found that 7.638 billion yuan of subsidy funds were not paid in time, 1.62 billion yuan of idle funds were not revitalized for a long time, and individual subsidy projects were idle for 16 years. The subsidy payment was not timely and accurate, and the idle waste of subsidy funds was prominent.

Shanghai’s latest residential water price adjustment plan is released! How much will the monthly water fee increase? See the detailed explanation of the question and answer →

Shanghai will raise the water price of residents in Shanghai, which has not changed for nearly 8 years.

On the afternoon of 16th, the Shanghai Municipal Development and Reform Commission announced the latest "Water Price Adjustment Scheme for Residents in the Service Area of Shanghai Water Supply and Drainage Enterprises". At the same time, a hearing on water price adjustment for residential users will also be held on the 31st of this month to listen to the opinions and suggestions of all sectors of society on the water price adjustment scheme for residential users in municipal water supply and drainage service areas.

What changes does this adjustment specifically include?

Let Xiaobian "focus" on you one by one.

1. Q: Which areas of Shanghai residents are involved in the price adjustment?

A: This adjustment covers the water price of residents in the service areas of municipal water supply and drainage enterprises in Shanghai, that is, Shanghai Chengtou Water (Group) Co., Ltd. and Shanghai Pudong Veolia Water Supply Co., Ltd.

It involves Huangpu District, Jing ‘an District, Putuo District, Xuhui District, Yangpu District, Hongkou District, Changning District, Minhang District, Baoshan District, and parts of Pudong New Area and Jiading District.

2. Q: What changes have been made to the water price?

A: The residential ladder water price standard has been raised, as follows.

The comprehensive water price of the first step: adjusted from the current 3.45 yuan per cubic meter to 4.09 yuan.

This price includes two parts: the water supply price is 2.27 yuan per cubic meter, and the sewage treatment fee payable is 1.82 yuan per cubic meter.

Second step comprehensive water price: adjusted from the current 4.83 yuan per cubic meter to 5.72 yuan.

Third step comprehensive water price: adjusted from the current 5.83 yuan per cubic meter to 8.63 yuan.

-The price comparison relationship of water supply price ladder is adjusted to 1:1.7:3, and the sewage treatment fee payable is consistent with that of the first ladder, and the comprehensive water price of the second and third steps is adjusted accordingly.

3. Q: Is there any change in the water quantity of the step?

A: The water quantity of each step of residents remains unchanged.

The water quantity of the first step corresponds to 0-220 cubic meters per household per year (inclusive);

The water quantity of the second step corresponds to 220-300 cubic meters per household per year (inclusive);

The water quantity of the third step corresponds to more than 300 cubic meters per household per year.

4. Q: How much will the monthly water bill actually increase?

A: According to the monthly domestic water consumption of 15 cubic meters per household, the monthly water fee expenditure of each household is about 51.75 yuan before adjustment and 61.35 yuan after adjustment.

Taking 61.35 yuan as an example, this figure accounts for 0.42% of the per capita disposable income of urban permanent residents in Shanghai (calculated according to the statistical data of Shanghai in 2020). The increase in water charges accounts for about six tenths of the average disposable income of households.

5. Q: Is there any change in the preferential policy standard of "one household with many people"?

A: The reporter from Dongfang. com learned that the current preferential policy of "one household with many people" for ladder water price in Shanghai does not involve adjustment and remains unchanged.

[Extension] What is the preferential policy of "one household with many people"?

Families with a large registered population can apply to increase a certain ladder base. The ladder base for increasing water consumption is 100 cubic meters of water per household per year.

Since September last year, the scope of the preferential policy of "one household with many people" has been expanded from the original registered residents who have the same household to those who hold the Household Registration Book, the Residence Registration of Persons with Separate Household Registration in this Municipality, and the Shanghai Residence Permit (including the residence permit for overseas talents) and live together at the same address.

If the cumulative number of people is more than 5, they can apply for increasing the ladder base of water, electricity and gas consumption, and if the cumulative number of people is more than 7, they can apply for the implementation of the average residential ladder price. Each resident user can only apply at one address, and cannot apply at multiple addresses.

6. Q: How do you know which ladder your water consumption belongs to?

A: It can be found through the monthly water bill and the "Shanghai Water Supply" APP just launched in August this year.

The "Shanghai Water Supply" APP has service functions such as business handling, inquiry and payment, fault repair, complaints and suggestions.

How to use it —— Search for "Shanghai Water Supply" in APPle [App Store] or Android [App Store] and download the app. After completing the registration and account binding, you can open an account for residents, transfer residents, register residents in real-name registration system, and automatically push electronic invoices online.

7. Q: What is the current water quality of tap water in Shanghai?

A: The reporter from Dongfang. com learned that the water quality of Shanghai is assessed according to the national standard, and the comprehensive pass rate has reached 99.8%. In order to ensure the safety of water supply and improve the quality of drinking water, Shanghai water supply industry has taken many measures in recent years.

First, build an ecological reservoir, increase pretreatment facilities of sodium hypochlorite and powdered activated carbon, and continuously improve the quality of raw water.

The second is to carry out advanced treatment and transformation of water plants, and continuously improve the water quality of the factory. The advanced treatment rate of the city has increased from 19% in 2013 to 60% at present. Third, through the rolling renewal of the old pipe network and the renovation of the secondary water supply facilities in residential buildings, online monitoring points and secondary water supply sampling points of the pipe network are set up, and the terminal water quality detection index and frequency are increased to continuously improve the terminal water quality of the pipe network.

At present, compared with the end of the "Twelfth Five-Year Plan", the water quality of Shanghai’s pipe network has decreased by 31%, and the water quality is clearer. The chroma drops by 37%, making the look and feel more transparent; The residual chlorine decreased by 25%, and the taste was further improved. The permanganate index of organic matter in water decreased by 26%, making drinking water healthier and safer.

During the "Tenth Five-Year Plan" period, Shanghai will accelerate the advanced treatment and transformation of water plants, and the advanced treatment rate of water plants will reach 90% in 2025, and the renewal of 2,000 km old water supply pipe network will be completed simultaneously, and the water quality management of raw water, factory water, pipe network water and secondary water supply will be continuously strengthened to continuously improve the drinking water quality of citizens.

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Source: Dongfang. com WeChat WeChat official account

Editor: Fang Jialu

Jiujiang: Old people who want to tear down old houses and build new ones must meet the conditions of one household changing.

The old man wants to tear down the old house and build a new one.

Lushan District Planning Bureau: Only when one household is changed can it be approved.

Jiujiang News Network (Reporter Zhang Xinhong) Mr. Liu, a villager from the sixth group of Jinqiao Village, Saiyang Town, Lushan District, said that his 80-year-old father wanted to demolish the old house and build a new one because of the danger of the old house, but the District Planning Bureau said that it did not meet the requirements. In this regard, the Planning Bureau of Lushan District replied that in rural areas, only those who meet the conditions of changing one household can approve building.

Mr. Liu said that his parents are old and still live in adobe houses built in the 1930s. At present, the old houses are in jeopardy, and it is dangerous for the elderly to live in them, and they are unwilling to live with their children. To this end, Mr. Liu went to the town and the district to ask for approval to build a house, but the town said that they only had the authority to approve 20 square meters. With this area, building houses in rural areas is too small. Seeing that the town could not approve it, Mr. Liu and his father went to the district to ask the District Planning Bureau for approval. However, the district did not approve it, on the grounds that the elderly originally had a house and could live with their children. In this regard, he can’t understand that his father just wants to tear down adobe houses on the original foundation and build new houses. Does it not occupy land?

In this regard, the Planning Bureau of Lushan District replied that if building a house in rural areas is in line with one household change, that is, parents with sons and their children have no houses, they can approve the construction of a three-story building; If the elderly do not meet the requirements, they should be arranged to live by children with housing. However, if Mr. Liu thinks that the situation at home is special, he can first write a written material from the village, and then submit a report from the town for approval. Regarding the situation of Mr. Liu’s family, the staff believes that all children have housing, and parents can live with their children. Even if they can approve, they can only build 20 square meters of housing, and they must be next to their children’s houses.

Extended reading:

Changhong has been added to Xunyang River, and the second Jiujiang Yangtze River Bridge was opened to traffic today.

Changjiu Business Integration Liansheng Layout Big Jiujiang

Jiujiang: the fourth week of October, the ranking of real estate sales was 10.

In the fourth week of October, the average transaction price of Jiujiang property market rose by 24%

Jiujiang International Bay real building model room and landscape demonstration area are open to the whole city for the first time.

Comments on the Management of Wentou Holding’s 2023 Annual Board of Directors

() The operating comments of the Board of Directors in 2023 are as follows:

  I. Discussion and analysis of business conditions

In 2023, the company closely followed the development trend of the industry, closely combined with the company’s business practice, further consolidated the stock business, optimized the asset-liability structure, promoted the disposal of inefficient assets in an orderly manner, and sought the company’s stable, healthy and sustainable development.

(1) Operation and management of cinemas and cinemas.

In 2023, the company’s cinema and cinema business actively grasped the favorable trend of industry recovery and promoted cost reduction and efficiency improvement. Strengthen the operation and deployment in key schedules, increase box office revenue, optimize and adjust the categories of cinemas, expand diversified cinema business models, and increase non-ticket income. Among them, Beijing Yaolai Jackie Chan Studios Wukesong Store resumed business on the eve of the National Day in 2023. On the opening day, the box office ranked first in Beijing, and the National Day box office ranked first in the country. The company further promoted the standardization of cinema operation, strengthened refined management, continuously reduced operating expenses by reducing rents, personnel costs and comprehensive energy consumption, shut down the inefficient cinemas and optimized the overall financial situation of the surviving cinemas. By the end of 2023, the company continued to operate 36 cinemas and 283 screens. During the reporting period, the company’s cinema sector achieved a total box office of 318 million yuan (excluding service charges), accounting for 0.63% of the total box office in the country, achieving a decrease in the number of cinemas but an increase in revenue compared with last year; Ranked 17th by box office revenue, with an annual movie attendance of 8.1581 million.

(2) Film and television investment production and distribution business

During the reporting period, the company’s film and television related business closely combined with the development trend of the industry, further adjusted its business strategy, reduced the total investment scale, and further emphasized the choice of themes and partners. Focusing on the strategic positioning of Beijing National Cultural Center, the company participated in the release of many film and television works that promoted the main theme and spread positive energy, and achieved good social and economic benefits.

In terms of film distribution, the company participated in the production and distribution of the official film Beijing 2022 for the Winter Olympics, the film Procuratorial Storm produced in cooperation with the Supreme People’s Procuratorate Film and Television Center, the work about animal protection, Dog Romance, and the inspirational film for rural children, Dream in the Mountains, and other films were successfully released. Among them, "Beijing 2022" was selected as the opening film of Beijing International Film Festival, selected as the key project of Beijing Cultural Boutique Project, and became the world’s first official Olympic film released by commercial cinema; He was reported by Xinhua News Agency, People’s Daily, CCTV News and other media, and won the mainland box office champion in 2023, the documentary attendance champion in 2023, the Dragon Boat Festival, the 61st documentary and the box office champion of sports films in the mainland. He was selected as the opening film of the 12th Beijing International Film Festival, nominated for the best documentary in the 36th () Golden Rooster Award, and won the golden wreath award and the "Olympic and Paralympic Spirit" unit of the 2023 Milan International Sports Film and Television Festival. In addition, during the reporting period, the film Our Winter Olympics, which was produced and distributed by the company, won the Golden Garland Award in the Film Unit of Milan International Sports Film and Television Festival 2023, the film My People,My Country The Wandering Earth, which was produced and distributed, won the Excellent Feature Film Award of the 18th China Film China Watch Award, and the film Miracle-Stupid Child, which was produced and distributed, won the Excellent Feature Film Award of the 19th China Film China Watch Award.

The TV drama and online drama business focuses on the main theme and positive energy projects. During the reporting period, China’s first big-screen film "Prosecutions" and China’s first TV series "Prosecutions" with the theme of procuratorial organs cracking down on new cyber crimes were broadcast in April and May, 2023, respectively. The theme came from the vigorous development of people’s procuratorial work in the new era, which has attracted the attention of the whole people and social familiarity, embodied people-centered creative thinking, and presented a distinct realistic view and positive social influence. The TV series "Days of Iron Horse’s Passion" with strong Beijing characteristics deeply digs into the great historical value of Changxindian, a thousand-year-old ancient town in southwest Beijing, as an important town of manufacturing development in China, the source of revolutionary history and the starting point of the workers’ movement, shows the century-long struggle of China’s national industry represented by railways, shapes a group of characters with distinctive personalities, and carries forward the "artisan spirit" of China’s national industry.

(3) Game R&D and operation business

During the reporting period, the company adhered to the business strategy of creating high-quality games, and started from the aspects of improving product quality and exploring new product categories to continuously improve the efficiency of research and development, distribution and operation of the company.

In terms of market expansion, the company actively explores new modes of cooperation, builds an ecosystem of research, development and transportation oriented by products, markets and users, and forms a benign synergy within the ecosystem; Through strategic cooperation and deep customization, we will gradually form a content-side product matrix to expand and enrich the revenue sources of game R&D and operation business. In 2023, the company’s flagship product "Siege the World" has maintained a stable total flow since it was launched in 2021 through continuous innovation in gameplay and continuous improvement in planning level. In 2023, the global flow reached 941 million yuan; The previous product, Siege Three Kingdoms, continuously improved the entertainment and user experience of the game by calling players to test and verify the core gameplay and listening to players’ suggestions, and launched a series of marketing methods such as the return of old users, which continued to slow down the decline of the original mature products. After years of operation, it continued to exert its strength. In 2023, the global water flow still reached 135 million yuan.

In terms of new game reserves, during the reporting period, the company added two new game products and reserves, which are expected to be launched online in 2024. Among them, Strange Tales of Immortal Fairy (tentative name) is a 3D multiplayer online role-playing product, which is a strategic product for the company to explore high-quality content. It is expected to be launched in June 2024. This product has made diversified innovations in product types, themes, artistic expression and gameplay, and is expected to become the main product of the company. The Three Kingdoms War 2 (tentative name) is a customized game on the H5 platform, which is expected to be launched in October 2024. The product is technically committed to improving the performance of the product engine, improving the quality of art and sound effects of the product, so as to meet the user’s experience demand for high-quality games; In planning, we will devote ourselves to gameplay innovation, design innovation and process optimization to meet the needs of users in interesting and fluent experience.

The company’s own distribution channel "Huluxia" APP channel has further exerted its strength. By the end of 2023, the registered users of "Huluxia" APP reached 37.1529 million, and the cumulative installation amount reached 375 million times. Compared with last year, the monthly active users of the platform increased steadily, showing a strong user base and market potential. In addition, Huluxia platform has completed the development of H5 operation port. In the future, it will do a good job in daily product cooperation with major game manufacturers, create stable game intermodal revenue, and continuously expand the H5 small game intermodal business to increase the game intermodal revenue. At the same time, the team made a major version update on the basis of the original Huluxia platform. Through the newly developed Android virtual machine APP system, the user experience of the game was better enhanced, the user activity and market competitiveness of the platform were enhanced, and the comprehensive income level was further improved.

(D) Promote the withdrawal of inefficient assets and optimize the asset structure.

During the reporting period, the Company concentrated its efforts on promoting the disposal of inefficient assets and the withdrawal of equity investment projects, designed different asset disposal schemes according to the characteristics of different assets and projects, and actively took judicial measures such as litigation and arbitration to speed up the implementation of payment collection. Actively use various means to optimize the company’s asset-liability structure, increase the recovery of film and television project funds, further revitalize assets, increase cash inflows, and lay the foundation for the company’s stable, healthy and sustainable development.

Ii. the industry in which the company is located during the reporting period.

(A) the film and television industry

1. Industry development

(1) Film industry

In 2023, China’s film industry showed a positive development trend, not only in the box office and movie attendance, but also in the diversification of content and the rise of domestic films, showing the vitality of the industry and showing a positive growth momentum.

The recovery of movie-watching demand has driven the market to rise, and domestic films have become the absolute protagonists. According to the data of the National Film Bureau, the total box office of China movies reached 54.915 billion yuan (including service fees) in 2023, returning to the level of 2017, and the number of people watching movies in city cinemas reached 1.299 billion, a record high in the past four years, and the audience’s willingness to watch movies rebounded obviously. With the continuous improvement of the quality and diversification of the content of domestic films, domestic films occupy an increasingly important position in the market, and the box office of domestic films is 46.005 billion yuan, accounting for the proportion.

83.77%, surpassing the record high in 2019. A total of 11 films broke 1 billion at the box office in the whole year, all of which were domestic films; 29 films with a box office of more than 500 million, including 24 domestic films; There are 73 films with box office exceeding 100 million, including 50 domestic films.

Industry production and supply have picked up, and creative enthusiasm has improved. According to the data of the National Film Bureau, 792 feature films were produced in 2023, with a total output of 971 films. In 2023, a total of 510 films were released, including 432 domestic films and 78 imported films. According to the 2023 national film script (synopsis) filing and project publicity data released by the State Film Bureau, in 2023, there were 3,008 films filed and approved nationwide, up 60.34% year-on-year, achieving the first substantial increase in the past five years.

The output value structure of cinemas has recovered well. According to the Annual Inventory Report of China Film Market in 2023 released by Lighthouse Research Institute (), in 2023, there were 12,723 box-office cinemas in China city cinemas, and the number of screens rose to 86,000. The construction of cinemas slowed down, and new cinemas were mainly distributed in third-and fourth-tier cities. The number of medium and high output value cinemas has rebounded, and the number of cinemas with annual box office less than 5 million has dropped. The output value structure of cinemas is healthier than that in 2020-2022. However, due to the obvious effect of box office schedule, 40% to 60% of cinemas are still more dependent on the popular schedule of Spring Festival and summer vacation than the industry average.

(2) TV series industry

The number of TV series on-line continues to decrease, and the creation and production have entered a rational and standardized stage. According to the data in the 2023 China Drama Development Report of the State Administration of Radio and Television and the Development Research Center of the State Administration of Radio, Film and Television, in 2023, 156 dramas with 4,632 episodes were produced nationwide and obtained the Domestic TV Drama Distribution License, which was slightly lower than that of 160 dramas with 5,283 episodes in 2022. The number of TV dramas decreased for eleven consecutive years, and the total number of episodes decreased for eight consecutive years. In 2023, there were 538 national TV drama production records and publicity plays, 67 more than in 2022. This is the first time that the number of TV drama production records has rebounded since the "seven consecutive declines" in 2016. In 2023, a total of 561 online dramas passed the planning and filing, which continued to decline compared with 660 in 2022 and 1,172 in 2021.

The distribution and broadcasting pattern of drama series has undergone profound changes, and the cooperation between Taiwan and the Internet has developed in depth. In the drama market, the proportion of copyrighted dramas is decreasing, while the proportion of customized dramas and sub-account dramas is increasing. The production system of platform-made dramas is becoming more and more mature, and the quality of works is constantly improving, showing a trend that platform-made dramas and self-made dramas replace copyrighted dramas and become the mainstream of the market. Major video platforms are becoming important drama suppliers for TV stations. Compared with the main video platform and the Central Radio and Television Headquarters, the competitiveness of provincial satellite TV stations has dropped significantly, and the advertising revenue has dropped significantly, which has restricted the TV stations’ ability to purchase excellent dramas. The solo broadcast of the five David TV theaters is scarce, and the spell broadcast has become the norm. It has become the norm for the second and third satellite TV stations to broadcast two rounds of dramas, multiple rounds of dramas and simulcasts in prime time at night.

2. Changes in industry policies

On May 21, 2023, the Announcement on the Policy of Exempting Special Funds for the Development of National Film Industry in Phases (Announcement No.9 of the State Film Bureau of the Ministry of Finance in 2023) was exempted from the special funds for the development of national film industry from May 1, 2023 to October 31, 2023. On September 22, 2023, Announcement on Continuing to Implement the Value-added Tax Policy to Support the Development of Cultural Enterprises.

(Announcement No.61 of the State Administration of Taxation, Ministry of Finance, 2023), the income from selling movie copies (including digital copies), transferring movie copyrights (including transfer and licensing), movie distribution income and movie screening income obtained by film group companies (including member enterprises), film studios and other film enterprises that are engaged in film production, distribution and screening according to their functions and powers. The city film screening service provided by ordinary taxpayers can choose to calculate and pay the value-added tax according to the simple tax calculation method according to the current policy. This announcement will be implemented until December 31, 2027.

On August 9, 2023, the Notice of the State Administration of Radio and Television on Further Standardizing the Planning, Filing and Content Review of TV Drama, Online Drama and Online Movie (Guangdian Fa [2023] No.26) was issued, which made clear and emphasized matters such as filing and publicity, filing before broadcasting, governance of water-flooded drama and sky-high film remuneration. Under the policy guidance and the ever-changing market environment, the TV drama industry continues to reduce and improve the quality and deepen the content to create high-quality excellent dramas.

(2) The situation of the game industry

1. The game industry

The domestic game market has obviously picked up. According to the Game Industry Report of China in 2023 and the Game Research Report of China in 2023 jointly compiled by the Game Working Committee of China Music and Digital Association, China Game Industry Research Institute and Gamma Data (CNG), in 2023, the global game market scale was 1,177.379 billion yuan, up 6.00% year-on-year, and the actual sales revenue of the domestic game market was 302.964 billion yuan, up 13.95% year-on-year. Among them, the actual sales revenue of China’s self-developed games in the domestic market was 256.375 billion yuan, up 15.29% year-on-year, among which the actual sales revenue of mobile games increased significantly, accounting for 74.88% of the revenue. The global mobile game market is about RMB 606.267 billion, up by 1.98% year-on-year. The actual sales revenue of China’s mobile game market was 226.86 billion yuan, a year-on-year increase of 17.51%, setting a new record.

The actual overseas sales revenue of self-developed game products decreased year-on-year. According to the Research Report on Games Going to Sea in China in 2023, in 2023, the actual overseas sales revenue of self-developed products in China was USD 16.366 billion, down 5.65% year-on-year. After 2022, it declined again, and the decline rate expanded, so the game going to sea was under great growth pressure. The United States and Japan are still the main overseas markets of China’s mobile games, accounting for 32.51% and 18.87% respectively; South Korea ranks third with 8.18%. In addition, Germany, Britain and Canada together accounted for 9.45%. Overseas emerging markets such as the Middle East and Latin America have not seen significant improvement.

2. Policy changes in the game industry

In 2023, the distribution frequency of game version numbers is relatively fixed, and the number of distribution has also increased significantly. According to official website of the State Press and Publication Administration, in 2023, 1,075 versions of games were issued, far exceeding the 512 versions in 2022. The distribution of the version number in 2023 shows that the competent authorities have begun to show greater transparency and stability in the approval of the version number, which provides more clear market expectations for game companies. At the same time, the support attitude towards high-quality content and innovative games has brought new development opportunities to the industry.

On November 17, 2023, the State Press and Publication Administration issued the Notice of the State Press and Publication Administration on Implementing the Publishing Project of Online Games (Guoxin Departure Letter [2023] No.230), and decided to select a number of online games with correct value orientation, rich cultural connotation and entertaining, so that positive energy will become the main tone for the development of online games. The circular pointed out five key directions: spreading socialist core values, inheriting Chinese excellent traditional culture, showing the development achievements and features of the new era, promoting scientific and technological innovation and application of new technologies, and having international market potential.

On December 22, 2023, the State Press and Publication Administration publicly solicited opinions on the Measures for the Administration of Online Games (Draft for Comment), covering online game approval, content management, distribution and trading of game coins and virtual props, publicity and promotion, and protection of minors. Articles 17, 18 and some other contents of the exposure draft have great influence on the current game industry and are concerned by all parties.

Iii. Business of the Company during the reporting period

(a) the main business.

The company is mainly engaged in the business of film and television and games and its derivative "culture+"business. The main business sectors include cinema and cinema operation management, film and television investment production and distribution, game research and development and operation, and "culture+"business, involving cultural and entertainment-related industries.

(2) Business model

1. The main business model of cinema and cinema operation management business.

The cinema operation business mainly provides film screening services to movie audiences, and also engages in value-added services such as cinema sales and derivative sales, as well as film patch advertisements and cinema venue advertisements. The cinema operation business is mainly for the unified film arrangement and film supply management of subordinate cinemas. Studios and cinemas mainly earn income by collecting non-box office income such as box office accounts, sales and advertisements.

2. The main business model of film and television business

The film investment and production business is mainly for the company to select high-quality themes through careful evaluation and market analysis, develop scripts independently or jointly with other partners, build a crew, and shoot and produce, and finally share benefits and risks according to their respective investment ratios or contractual agreements.

The film distribution business is mainly to promote films to cinemas and cinemas, negotiate with cinemas, arrange film screenings and other services, and obtain income by collecting distribution commissions and fixed returns.

The TV drama investment and production business is mainly for the company to jointly invest in TV drama projects with other investors, or for the company to provide IP and scripts and entrust a third party to produce and shoot TV dramas for the company, and to obtain income or share by transferring the right of communication to TV stations and online video platforms.

3. The main business model of the game business

The company’s main business includes research and development, distribution and operation of mobile games and web games. The company’s online game operation business is divided into three modes according to different operation modes: independent operation, authorized operation and joint operation.

The R&D and operation business of online games is mainly to create high-quality mobile games, web games and other product contents under the established R&D, distribution and channel industrial chain pattern, and to distribute and promote them through cooperation with major game platforms at home and abroad, as well as their own game platforms, so as to obtain income or share through game download income and props sales.

4. The main business model of "Culture+"business

"Culture+"business is based on the company’s strategic development plan, around the company’s existing main business, based on the company’s own brand advantages, diversified layout in the cultural field, expanding the company’s income channels and enhancing the company’s competitiveness.

Iv. analysis of core competitiveness during the reporting period

1. Have a competitive cinema.

During the reporting period, the company’s studio sector achieved a total box office of 318 million yuan (excluding service fees), accounting for 0.63% of the total box office in the country, ranking 17th in terms of box office revenue. The company’s Yaolai Studios Beijing Wukesong Store re-led the country after resuming business on the eve of the National Day. On the opening day of September 28, it won the first box office in Beijing Studios with a box office of 137,000 yuan. In the National Day period, the box office with service reached 2,451,200 yuan, ranking first in the national cinema single store; In the Spring Festival of 2024, it won the national cinema single-store box office champion for 8 consecutive days. The company’s studio has established a stable self-owned membership system, and the membership box office accounts for more than 20%.

2. It has a relatively complete film and television industry chain.

The company’s film and television business covers many links such as production, distribution, cinemas and cinemas, and completely covers the industrial chain system of the film and television industry, providing a powerful and perfect platform for the production, distribution and projection of the company’s film and television works, enabling the company’s various business sectors to coordinate resources, maintain control over film and television products in all links, improve overall operating efficiency, strengthen the sustainability of high-quality content output, and maximize value.

3. Have more efficient game research and development capabilities.

After several years of rapid development and technical accumulation, the company’s game business has continuously strengthened its research and development strength and greatly improved its product quality. The company actively promotes the strategy of "integration of research and transportation", adheres to the strategy of "quality, diversification and globalization", attaches importance to R&D investment and personnel training, and has excellent and efficient R&D capabilities. The self-developed products have the characteristics of high success rate and long cycle. The company has successively launched a variety of self-developed boutique games with a monthly flow of over 100 million yuan. At the same time, the company vigorously upgraded and optimized the R&D project establishment mechanism, established diversified indicators, and set up an incentive ladder system for different categories of products through diversified incentives to better stimulate the enthusiasm and creativity of employees.

4. Have refined long-term game operation ability.

The company combines market characteristics with rich experience in game research and development and operation, and has the ability of refined long-term operation, effectively extending the product life cycle. Through systematic, differentiated and customized traffic operation mode and perfect operation service, the company actively extends the life cycle of high-quality games from the aspects of product game activity planning, gameplay innovation and user’s game experience. The company adheres to the design and operation concept of game player-oriented, attaches importance to all aspects of product quality and customer service, deeply listens to the opinions of the majority of players on the products, responds to market changes in time, adjusts the delivery strategy, and satisfies the player’s game experience through rapid version update and breakthrough in gameplay, which makes the company’s various games have a good reputation and popularity, and has accumulated a certain loyal user group.

5. Strong resource integration ability.

As a state-owned cultural listed company in Beijing, the company operates in a market-oriented way, relying on the resource advantages of the capital cultural industry and the background of shareholders, and has established good cooperative relations with outstanding enterprises, teams, core personnel, special examination and approval institutions and special content resource institutions in the domestic cultural content industry, forming a strong ability to integrate industry resources, and maintaining the sustainable development of relations with outstanding enterprises and talents in the industry based on project cooperation; Based on the exploration and practice of new business and new fields, expand new formats in the cultural field and tap the potential of IP re-creation; Open up () channels, realize the horizontal diversification and vertical integration of the cultural industry chain, strengthen the resource gathering of key schedules and key projects, and reserve high-quality projects at the same time to ensure the depth of business.

V. Main operations during the reporting period

In 2023, the company further shut down the inefficient studios; Due to market contraction and uncertain industry prospects, its cultural and entertainment brokerage business was shut down; Some of the company’s film and television projects were affected by factors such as the market and actors, and the distribution effect was not up to expectations or could not be promoted, and the film and television business continued to decline. In addition, in 2023, due to the decline of siege series games, the development progress of reserve games was lower than expected, so the goodwill of the game sector showed signs of impairment. Considering the above factors comprehensively, in 2023, the company accrued 887 million yuan of goodwill impairment loss to Yaolai Studios and the game sector, which had a great impact on the company’s net profit. The company’s film and television projects are affected by immoral artists, and the distribution is facing greater risks. Although post-editing and re-shooting work are carried out, there are still major uncertainties, so the provision for inventory depreciation is 164 million yuan. In recent years, due to the large operating losses and tight funds, some projects are overdue or unable to be paid on time, resulting in liquidated damages, late fees, etc. According to the latest progress of pending litigation and the expected compensation for breach of contract, the estimated liabilities are about 91 million yuan. Due to the slow development progress, Jinniuhu Project was not completed as scheduled as agreed in the agreement, and the risk of the company’s actual obligation to pay fines, liquidated damages and other expenses related to land development was significantly increased. According to the possibility of payment, the estimated debt was accrued to 200 million yuan. Affected by the superposition of the above factors, the company lost 1.647 billion yuan during the reporting period.

By the end of 2023, the net assets attributable to shareholders of listed companies were-1.037 billion yuan and the total assets were 3.005 billion yuan, a decrease of 40.47% compared with the end of 2022.

By the end of 2023, the company’s total share capital was 1,854,853,500 shares, unchanged from the previous period.

VI. The Company’s Discussion and Analysis on the Company’s Future Development

(A) the industry pattern and trends

1. Film and television industry

The box office tends to concentrate on the head. The box office of Chinese movies is increasingly affected by the explosion. In 2023, the box office of the top five movies accounted for 33.83% of the total box office of the country, and the box office of the top ten movies accounted for 48.51%, both of which were further higher than in 2019. At the same time, the box office is further concentrated in key periods. In 2023, the box office of summer, Spring Festival, National Day and other holidays accounted for 37.5%, 12.3%, 5.0% and 7.5% of the total box office in the whole year, accounting for 62.4% of the national box office.

The box office continues to sink to third-and fourth-tier cities. The proportion of box office in first-tier cities dropped from 19.1% in 2019 to 16.6% in 2023, while that in second-tier cities dropped slightly from 40.9% in 2019 to 39.3% in 2023, and that in third-tier cities rose from 16.2% in 2019 to.

17% in 2023, and fourth-tier cities rose from 23.7% in 2019 to 27.1% in 2023. Newly-built studios have mainly sunk to second-,third-and fourth-tier cities, and the number of screens and single-screen box office have reached new highs.

The right to speak TV series is gradually transferred from the production organization to the broadcasting platform. With the rise of video platforms and the increasing proportion of customized dramas, on the one hand, production organizations are highly bound to creators, and actively realize highly stylized creative attempts; on the other hand, they establish a stable production and broadcasting relationship with platforms to realize efficient product output, which impacts the traditional pattern. The head production company market shows obvious differences, and the new generation creative companies hold up half of the market with a brand-new attitude.

2. Game industry

The game market has entered a mature stage. From the perspective of market size, the actual sales revenue growth in the domestic game market has slowed down significantly since 2018, and the actual sales revenue of self-developed games overseas has also declined for two consecutive years. From the scale of active households, in 2023, the number of game users in China was 668 million, up 0.61% year-on-year, and the number of mobile game users was about 657 million, up 0.38% year-on-year. Compared with the data of 526 million game users and 605 million mobile game users in 2018, the growth of users slowed down significantly. Judging from the game duration and willingness to pay, according to the statistics of the game industry report in 2023, the game duration of some users has decreased, and it is expected that the payment amount will also decrease accordingly; According to the "Analysis Report on the Trend and Potential of Game Industry in China in 2024" released by Gamma Data, in the latest user questionnaire, the proportion of users whose game duration has decreased has exceeded that of users who have increased, and the proportion of users who are expected to spend less on games in the future has also exceeded that of users who spend more.

The cost of game distribution continues to increase. According to DataEye data, in 2023, the number of games in mobile games reached 22,000, up over 10% year-on-year, and the amount of materials was 26.86 million, up 94% year-on-year. With the increase of exposure demand, the soaring number of products in investment and the decline of players’ consumption level, the buying end is more involuted, the competition is fierce and the buying cost is rising.

The small game market is growing rapidly. According to the Game Industry Report of China in 2023, due to the rapid increase of the realization mode of in-app purchase and payment, the market scale grew rapidly, and the annual revenue in 2023 reached 20 billion yuan, up 300% year-on-year. With the advantages of lightweight gameplay, a large number of enterprises began to choose to lay out small games through small game authentication and running mode, reaching more users through the characteristics of click-and-play and easy sharing fission, and realizing the transformation of mobile games.

(II) Company development strategy

As a state-owned listed cultural enterprise in Beijing, Wentou Holdings will closely focus on the positioning of Beijing National Cultural Center, strengthen the responsibility and responsibility of state-owned enterprises, take the mission of building a leading cultural content and channel enterprise, constantly strengthen the awareness of high-quality development, constantly consolidate the stock business through optimizing layout, deepening management and standardizing operation, fully promote risk resolution, explore innovative development models in line with industry laws and market trends, and enhance the company’s profitability and core competitiveness.

The cinema sector will focus on the existing cinema space resources, customer base resources, film and television distribution, the whole industrial chain resources of cinema, technology and channel resources, optimize the regional layout and management of cinemas, actively innovate, link up and expand new ecology, enhance internal management and risk control capabilities and support, and achieve the goal of orderly operation, efficiency improvement and performance competition of cinemas.

On the premise of controlling investment and risk, the film and television business will adhere to the realistic creative path around important time nodes and major themes, explore the creative direction of major revolutionary themes, major historical themes and major realistic themes, and create a "Beijing model" for the new era of Acura.

The game business will continue to deepen the core advantages of "quality products", enrich the game categories, explore excellent channels and operating companies, explore new modes of cooperation, build an ecosystem of research, development and transportation oriented to products, markets and users, gradually form a product matrix at the content end, and expand and enrich the income sources of the game operation business.

The company will continue to strictly implement the requirements of securities supervision, industry-related rules, regulations and policies, adhere to the correct orientation, bravely assume social responsibilities, and strive to achieve a stable, healthy and sustainable development pattern.

(3) Business plan

In 2024, the cinema sector will fully guarantee box office output and increase non-ticket income. Do a good job in arranging films in key slots, and at the same time strengthen the new media platform to attract customers, enhance the brand image and passenger flow transformation of studios, and increase the box office income of key slots. By optimizing the category and display of products sold, strengthening the standardized training of promotion and other measures, the customer’s willingness to consume will be increased and the sales income will be increased. Carry out cinema venue activities through cross-border cooperation, innovate the cross-border business model, and on the basis of the existing diversified position scene of "position income +VR+ technology", focus on exploring and trying more new modes and new scene opportunities such as "VR+ cinema+position", "VR+AI" and "AI+cinema+film and television" to expand the income of business cooperation. Strengthen the new media platform’s customer outreach function, increase customer base drainage and enhance brand awareness and reputation, continue to promote standardized and refined management of operations, and scientifically control various operating expenses.

(2) Film and television investment production and distribution business

The company’s film and television business will further focus on improving quality and reducing quantity, speed up the production and distribution of stock film and television projects, and successfully complete the announcement of "Beijing 2022". On the basis of ensuring the smooth operation of the business, we will focus on the content production of major themes and realistic themes, give full play to the advantages of platform resources of state-owned enterprises, strengthen cooperation and alliance with high-quality enterprises and industries inside and outside the industry, and strive to establish differentiated brands and enhance the influence value in the film and television industry.

(3) Game R&D and operation business

1. Effectively enhance the strength of self-research and develop multiple product matrices.

Implement the "high-quality and diversified" measures to achieve a double breakthrough in the quality and quantity of self-developed products. In 2024, we will continue to operate the game products of Siege Three Kingdoms and Siege the World, maintain and maintain the good cooperative relationship of existing channels, and actively expand new cooperative channels and overseas distribution channels. In terms of new product reserve, we will strive to complete the research and development of products such as "Strange Tales of Immortal Immortals" and "The War of the Three Kingdoms 2" (tentative name) on schedule. At the same time, according to the overall product strategy and market situation, formulate corresponding research and development plans and online promotion plans. In the future, we will continue to make diversified innovations in product types, themes, artistic expressions and gameplay, and strive to launch diversified boutique games with high quality and long life cycle to meet the needs of different types of players.

2. Expand the advantages of going to sea to help spread Chinese culture.

The company will further give full play to the first-Mover advantage in overseas markets, continuously expand the scale of overseas business by relying on the company’s game research and development capabilities and localized marketing capabilities, and at the same time integrate the excellent traditional culture of China in terms of game themes, content and gameplay, and promotional materials, and launch more excellent works with China characteristics, China spirit and China wisdom.

(D) Actively promote restructuring and improve the structure of assets and liabilities.

On February 19, 2024, the company received the Notice from Beijing No.1 Intermediate People’s Court (hereinafter referred to as "Beijing No.1 Intermediate People’s Court" or "the Court"). The creditors of the company applied to Beijing No.1 Intermediate People’s Court for reorganization of the company on the grounds that the company could not pay off the debts due to the applicant and obviously lacked solvency, but it still had reorganization value and reorganization possibility, and applied to start pre-reorganization of the company. On February 26th, 2024, the company received the Decision from Beijing No.1 Intermediate People’s Court on starting the pre-reorganization and appointing the temporary manager during the pre-reorganization period, and agreed to start the pre-reorganization and appoint the temporary manager at the same time. On March 1, 2024, in order to smoothly advance the company’s pre-reorganization and reorganization procedures, and restore and enhance the company’s sustainable operation and profitability, the temporary manager launched an open recruitment and reorganization of investors. On March 29th, 2024, the deadline for submitting the restructuring investment plan to the intended investors expired. A total of 22 intended investors (if two or more enterprises form a consortium to register, they will be regarded as one intended investor) submitted a binding restructuring investment plan, among which one intended investor has explicitly participated in the investment as an industrial investor. In order to strive for more favorable commercial conditions for the reorganization of the company, the company and the temporary manager are further conducting commercial negotiations with the intended investors. The company will actively promote the smooth implementation of this reorganization, substantially improve the company’s asset-liability structure, and protect the interests of the company and all creditors and shareholders to the maximum extent.

(E) divest inefficient assets and improve asset quality.

In order to improve the operating efficiency and market competitiveness of the company’s main business, the company will continue to promote the disposal and divestiture of inefficient assets and improve the overall quality of existing assets. In the cinema business segment, the company will further sort out and shut down loss-making stores while retaining high-quality cinema stores, and concentrate resources on high-quality stores to expand the market competitiveness of high-quality stores. The film and television sector will strengthen negotiations with project partners and collect film and television accounts receivable as soon as possible. The game sector will continue to give full play to the advantages of the company’s R&D and innovation capabilities, increase the exploration of new products and new business models, and create new business growth points. Foreign equity investment will accelerate the full withdrawal of existing projects, realize the depreciation of assets and complete the cash return through withdrawal.

(4) Possible risks

1. Risk of improper behavior of participants

The film and television project has a long cycle and involves a wide range of people. Once the main participants have negative events, the film and television project will be put on hold, unable to be released or increase the production cost, which will damage the project income and even make the company face default. The company will reduce the losses caused by the problems of the participants by strengthening the background investigation of the partners and strengthening the effectiveness of the binding clauses in the agreement.

2. Risk of changes in market demand

As a subjective nonstandard product, film and television products have unstable supply-demand relationship and high emotional value, so it is difficult to quantify the evaluation and judgment. But content quality is always the main criterion that can stand the market test. The company will combine its core competitiveness in subject matter and resources, and insist on creating high-quality content output with main theme.

The development projects of Jinniuhu Theme Park and E-sports Entertainment Industrial Park are tested by multiple factors in the market. For example, major changes in the future market are not conducive to the project operation, or major changes in market demand are caused by other uncontrollable factors, or the financing is not timely. The project may face the risk of failing to build according to the agreed schedule or even terminating the project, and the company may be required to bear the risk of related fines, liquidated damages and other expenses.

3. Industry regulatory policy risks

At present, the relevant government regulatory authorities attach great importance to the healthy development of the online game industry, and the supervision of the online game industry continues to increase, and the threshold for online game-related business qualifications and licenses has also increased. On December 22, 2023, the State Press and Publication Administration publicly solicited opinions on the Measures for the Administration of Online Games (Draft for Comment), and put forward specific requirements on the publishing and operation of online games and the protection of minors. In view of the uncertainty whether all kinds of new game products that the company will continue to develop in the future can pass the pre-approval of the competent authorities, such as the deviation between the company’s understanding of regulatory laws and regulations when reviewing the content of game products in the research and development process, or the fact that the content of game products in the future does not meet the requirements of current regulatory laws and regulations, or violates relevant regulations during the operation of game products, there may be compliance risks such as being ordered to rectify, punished or even terminated, which will have an adverse impact on the company’s daily operations.

4. Market competition risk

With the online game industry gradually entering a mature stage, the industry competition is becoming increasingly fierce, and the external competition is intensifying. At the same time, users of online games are becoming more and more mature, and the quality requirements of products are increasing day by day. The online game industry has formed a fierce competition pattern in terms of gameplay innovation, game operation and channel promotion. The head company has obvious advantages and the industry iteration speed is accelerated. Although the company has rich experience in game R&D and operation, it has a strong competitive advantage. However, with the upgrading of game products and the constant change of user habits, facing many competitors in the industry, the increasingly fierce market competition may make the company unable to adapt to the changes in market demand, strengthen its core advantages and expand market share. At the same time, the industry form and hot spots are rapidly changing, and the oligopoly pattern of resources such as users and channels is increasingly intensified. If the company can’t continuously develop new high-quality games and make use of various channels and technological research and development advantages to become bigger and stronger quickly, fierce market competition may have an adverse impact on the company’s performance.

5. Risks related to reorganization and pre-reorganization

(1) Whether the court accepts the company reorganization is uncertain.

Pre-reorganization is the pre-procedure for the court to formally accept the reorganization, and the court’s initiation of the company’s pre-reorganization does not mean that the company’s reorganization is officially accepted. As of the disclosure date of this announcement, the company has not received the legal documents of the court on accepting the reorganization of the company, and there is still great uncertainty whether the court accepts the reorganization of the company.

(2) There is uncertainty in publicly recruiting and reorganizing investors.

Although the intended investors have submitted a binding restructuring investment plan, the company still needs to negotiate the restructuring investment plan and sign a formal restructuring investment agreement. There is still great uncertainty whether the company can sign a formal restructuring investment agreement with the intended investors.

(3) Being warned of delisting risk and terminating listing risk.

The company is currently in the pre-reorganization stage. According to the Listing Rules of Shanghai Stock Exchange, if the court formally accepts the reorganization of the company, the company’s shares will be warned of delisting risk. If the company enters the reorganization procedure but fails, it will face the risk of being declared bankrupt by the court. According to the Listing Rules of Shanghai Stock Exchange, if the company is declared bankrupt by the court, the company’s shares will face the risk of being terminated from listing.

6. Warning of production and operation risks and possible delisting risks.

The audited net assets attributable to the owner of the parent company in 2023 are negative. According to Article 9.3.2 of the Listing Rules of Shanghai Stock Exchange, the company’s shares will be warned of delisting risk. If the financial indicators in the audited financial accounting report of the company in 2024 touch the financial mandatory delisting stipulated in the Listing Rules of Shanghai Stock Exchange, the company’s shares will face the risk of being terminated from listing.

7. The actual controller changes the uncertain risk of progress.

On March 1, 2024, the company issued the Prompt Announcement on the Free Transfer of the Equity of Indirect Controlling Shareholders and the Proposed Change of the Actual Controller. Up to now, this equity transfer is going through the formalities in accordance with the relevant requirements of state-owned assets management, and there is still uncertainty about the completion time of this equity transfer and the change of the actual controller of the company.

8. Litigation and debt risk

At present, the company is involved in many lawsuits, and there is a risk of asset loss caused by losing the case; At the same time, the company’s current outstanding debts are large. If the company’s reorganization fails, or the subsequent operation fails to be effectively improved, the company will have the risk of litigation, asset freezing and asset loss caused by the failure to pay off debts.

Comments on the management of Sanfu Outdoor’s semi-annual board of directors in 2022

() The business review of the Board of Directors in the first half of 2022 is as follows:

  I. Main businesses of the Company during the reporting period

The company’s main business is to develop and sell professional and high-quality outdoor sporting goods, operate X-BIONIC black technology sports luxury brand, organize the group construction of outdoor sports events, design, construct and operate the comprehensive quality education project of "squirrel tribe parent-child outdoor paradise+eagle pole safety education and training+three-husband little warrior +SanfoHood wild luxury camp", and provide consumers with all-round products and services through the integration of various business sectors, encourage and help people to go outdoors, exercise healthily, and fully practice the life concept of harmonious coexistence between man and nature.

(a) the company’s industry

In the first half of 2022, the consumer market was greatly affected by factors such as frequent domestic epidemics. Statistics from the National Bureau of Statistics show that the total retail sales of consumer goods in the first half of the year was 21,043.2 billion yuan, down 0.7% year-on-year. Quarterly, it increased by 3.3% in the first quarter and decreased by 4.6% in the second quarter. According to the retail format, department stores and specialty stores in retail above designated size decreased by 8.4% and 4.1% respectively. The total retail sales of social consumer goods such as clothing, shoes, hats, and knitwear was 628.2 billion yuan, down 6.5% year-on-year. However, with the improvement of epidemic prevention and control situation and the effectiveness of promoting consumption policies, the consumer market has gradually picked up. In June, the growth rate of retail sales of most commodities rebounded, sales in some areas improved significantly, the operation of physical stores improved, and the consumer market showed an accelerated recovery trend.

In June, 2022, the 13th the NPC Standing Committee revised the Sports Law of the People’s Republic of China, which marked that the construction of China’s sports law entered a new stage, which was of great significance to standardize and lead the high-quality development of the sports industry in the new era and accelerate the construction of a sports power and a healthy China. In this revision of the new content, the contents of national fitness, strengthening teenagers’ awareness of physical fitness and promoting teenagers’ physical and mental health and physical fitness are highlighted; It is of great significance to adjust the economic structure of sports industry, increase employment, cultivate new economic growth points and meet the diversified sports needs of the people.

In July 2022, the General Office of the State Sports General Administration issued a work plan on sports to help stabilize the economy and promote the activation of consumption, aiming to promote the high-quality development of the sports industry, build a new development pattern, and contribute sports strength to stabilizing the economic market and ensuring the economic operation in a reasonable range. It is mentioned in the plan that offline sports events should be resumed in an all-round and orderly manner, and efforts should be made to ensure that domestic events should be done and broadcast, and more events should be presented to the people; Promote sports consumption, deepen the pilot work of sports consumption, and promote 40 national sports consumption pilot cities to better meet the sports consumption demand under the normalization of mass epidemic prevention and control by creating new sports consumption scenes, cultivating new sports consumption formats and models, issuing sports consumption vouchers, and organizing sports consumption festivals; Promote a green and healthy lifestyle, encourage people to go outdoors and participate in outdoor sports, and further tap the consumption potential in outdoor sports, green travel and other fields.

In May, 2022, the Sports Bank think tank released the "Report on the Development of Sports Industry in 2022", which holds that the outdoor sports industry is an integrated format with sports, tourism, culture and education functions. After the epidemic, it is expected to set off a new round of consumption boom, and it is expected to play a unique role in the strategy of "strengthening the country by sports in the 14th Five-Year Plan" and become a new growth point in the field of sports consumption.

In June, 2022, Taobao Tmall Sports Outdoor Industry and Taobao Education and Consulting Company Kearney jointly released the White Paper on Sports Outdoor Consumer Operation. The "White Paper" shows that after five years of development, product upgrading and usage scenario expansion, the number of outdoor sports users and the consumption of customers have maintained rapid growth. Looking at the scale of outdoor sports market in China, the compound growth rate will be around 13.7% in the next three years.

Under the background of epidemic situation, the related consumption promotion policies in the field of sports outdoor industry have been continuously introduced, and the concept of sports outdoor consumption has gradually risen to a part of the social cost of life. Under the multiple benefits of national policy support, public trend response and positive market feedback, the outdoor sports industry will show great market potential and strong development momentum.

(2) Main business of the company

In the first half of 2022, the domestic epidemic was frequently distributed, and the chain retail industry in which the company was located was greatly affected. The stores and other businesses under the multi-line were closed for some time, and the business segments of sports events, group building and parent-child youth were also subject to different degrees of business restrictions such as postponement, park closure and current restriction, which had a great impact on the company’s business activities in the first half of the year. Faced with the difficulties caused by the epidemic and the overall downward trend of the retail industry, all business segments of the company actively adjusted their business ideas, focusing on X-BIONIC product research and development, flagship store image design, brand marketing and CRM system construction, timely adjusting product structure and (or) product layout according to market demand, introducing interested e-commerce businesses such as Tik Tok and live broadcast, strengthening the IP of the event and the "Squirrel Tribe" parent-child outdoor park project, and concentrating on developing the life field and the construction of SanfoHood wild luxury camp in the parent-child interaction field.

In April 2022, the company increased its capital to hold Guizhou Yingji Sports Tourism Co., Ltd., which mainly focuses on comprehensive safety education for young people. Eagle Sports owns the brand of Eagle Sports Safety Education, and has been awarded many honorary titles such as "National Popular Science Education Base for Earthquake Prevention and Disaster Reduction", "Guizhou Popular Science Education Base for Disaster Prevention and Disaster Reduction", "Guizhou Youth Self-care and Self-help Training Base" by China Earthquake Administration, governments at all levels and superior units. It is an important part of the comprehensive quality education project built by the company in 2022, and the first demonstration base will be built in Nanjing.

During the reporting period, the company achieved an operating income of 236,941,400 yuan, down 4.84% year-on-year; The total profit was-12,224,400 yuan, a year-on-year decrease of 377.64%; Among them, the net profit attributable to shareholders of listed companies was-15,786,300 yuan, a year-on-year decrease of 1,165.12%. As of June 30, 2022, the company’s total assets were 1,069,700,700 yuan, and the net assets attributable to shareholders were 669,751,900 yuan.

1. Develop and sell professional and high-quality outdoor sporting goods.

(1) New retail operation

During the reporting period, the company has 47 direct chain stores in 18 cities across the country, representing and distributing more than 300 high-end professional outdoor sports brands at home and abroad. The products are divided into three categories: outdoor clothing, outdoor shoes and socks and outdoor equipment, covering skiing, camping, running, hiking, mountaineering, self-driving travel, urban commuting and many other outdoor scenes. Open comprehensive/brand flagship stores in Tmall, JD.COM, Mobile Micro Mall, Live Broadcast and other e-commerce platforms to provide consumers with professional and digital mobile shopping experience anytime and anywhere.

In the first half of 2022, the exquisite camping market exploded. Relying on the advantages of outdoor industry for many years, the company’s offline retail stores quickly organized and integrated the product structure, transformed and expanded the store camping area, enabled the experiential display mode, and transformed five large stores, including Beijing Huaxi Wukesong Store, Beijing Madian Zhongdian Store, Beijing Chaoyang Park Store, Shanghai Wanti Store and Shenyang Tianhui Plaza Store. The medium-sized stores also expanded the display of camping products, and the rich and diverse product structure allowed consumers to immerse themselves in many dimensions. The significant increase in the sales of camping equipment in offline retail stores partially offset the adverse impact of the epidemic on retail business during the reporting period.

The e-commerce team continued to focus on core brands such as X-BIONIC, dig deep into product selling points, improve product page quality, actively participate in promotional activities of Tmall and JD.COM platforms, and pay special attention to the improvement of users’ after-sales service experience, resulting in obvious business growth. Among them, the X-BIONIC online store adheres to the principle of "customer-oriented" and continues to maintain the high-speed growth momentum year-on-year. The X-BIONIC Tmall flagship store won the honor of "the new brand with the most powerful treasure", "the new brand with the most potential treasure" and "the annual dark horse award of global brand management mawards" from Tmall platform. In order to meet the needs of the rapid development of the company’s e-commerce business, combined with market changes and integration of resource advantages, the company established Sanfu Supply Chain Company, focusing on one-stop service of commodity warehousing, engaging in e-commerce cloud warehousing, warehousing custody, and promoting logistics solutions, and integrating "warehousing+order" processing into one professional warehousing logistics system, which laid a logistics foundation for the further development of e-commerce.

The new retail business continued to develop well. While maintaining the stability of Sanfu Outdoor Micro Mall, we made great efforts at the Tik Tok Live Track, opening Sanfu Outdoor Franchise Store and CRISPI official flagship store, achieving steady growth in the first half of the year. Among them, Sanfu Outdoor Micro Mall accumulated 8 million views in the first half of the year, with 170,000 visitors and a turnover of 8,542,600 yuan; Sanfu outdoor Tik Tok franchise store accumulated 350,000 visitors in the first half of the year, with a turnover of 6,087,200 yuan, achieving a breakthrough from zero to one million per month; CRISPI’s official flagship store officially opened in April 2022, and has achieved a turnover of 1.4 million yuan in the past three months, and it is growing rapidly. In the future, the company will continue to lay out interest e-commerce platforms such as Xiaohongshu and Aauto Quicker, build a traffic acquisition matrix, deeply promote the company’s brand, provide users with real value through high-quality scenes and experiences, and then realize efficient transformation.

(2) brand operation

1) own brand

During the reporting period, the company continued to increase its research and development efforts, improved the construction of various product lines according to different sports scenes, continuously enhanced the strength of its own brand products, and laid a solid product foundation for gaining greater market share.

Adhering to the concept of combining science and technology with advanced fashion, X-BIONIC continues to introduce high-quality products suitable for spring and summer, including various sun-proof windbreaker jackets, waterproof clothes and pants, many long and short-sleeved T-shirts with different functions, long and short-sleeved POLO shirts, running vests, jogging pants and other long and short pants, and women’s sports bra with different strengths. The categories cover various scenes such as running, fitness, outdoor, commuting, tactics and women’s yoga, which have won favorable comments from many users. The X-BIONIC R&D team has carried out in-depth development for the products planned for autumn and winter in 2022. Most of the products have been developed and finalized, are being processed and produced, and continue to be updated.

SANFOPLUS’s own brand, combined with outdoor camping craze, develops and produces camping-themed fashion products, including various printed T-shirts, pants, trench coats and other products, which have won favorable comments from consumers and industry attention.

2) Agency brand

During the reporting period, the international brands represented by the company continued to maintain an upward trend. Under the Glamping (exquisite camping), mountain system and Gorpcore style trends, the Swedish classic brand Klattermusen (Pan mountain rat) continued to maintain a high-speed growth momentum, and continued to make efforts to promote brands and single products in Xiaohongshu, bilibili and Tik Tok, and cooperated with Xiaohongshu’s official platform to "explore the store by bloggers", which achieved both brand exposure and store realization. The sales of mountain rat’s first direct brand store, Zhejiang Hangzhou Building Store, jumped to the top three floors. The online self-operated Tmall Klattermusen Travel Mouse Store continued to exert its strength, constantly optimizing the interface and enhancing the store image, achieving a growth rate of 1,300%+ during the period of 618; German professional sports glove brand Reusch shined brilliantly in the 2022 Beijing Winter Olympics. In the alpine skiing competition, 90% of the winning athletes (including two alpine skiers in China) wore Reusch gloves and finished the competition, and the glove sales increased by 40% year-on-year. Professional outdoor backpacks MYSTERYRANCH, out shoes Boots DANNER, LASPORTIVA, Lizard, sports glasses Julbo and other companies continue to exert their strength in the outdoor and running market, and develop steadily.

3) Distribution and consignment of brands

During the reporting period, outdoor exquisite camping and ice and snow sports experienced explosive growth, and the company quickly adjusted its product structure. On the basis of the original outdoor camping equipment and ski products, Increase outdoor camping equipment brands such as BURTON, NORDISK, Barbecue Family, Gelong, MIFA, Guanya, Hengguang, Hermit Mountain Road, FOZZILS, Dilefu, and outdoor sports products brands such as MOJOSPARK, HAVAIANAS Havena, BALEGA, THERAGUN, Junlok, EMERSONGEARS and CRABGRAB, and the market feedback effect is good. In the second half of the year, the company will continue to enrich skiing and camping products.

2. Operating X-BIONIC black technology sports luxury brand

X-BIONIC is a luxury brand of black technology sports, "X" stands for technology, creativity, future and infinite possibilities, "BIONIC" stands for bionic technology, and X-BIONIC embodies the spirit of exploration, technology and passionate sports.

During the reporting period, the company continued to maintain all-round cooperative relations with international suppliers of high-quality materials such as GORE-TEX, Schoeller, Polartec, Pertex, Primaloft, Allied, Toray, Cordura, Carvico, etc. The company’s R&D team and the Swiss R&D team continued to communicate and cooperate, and developed and designed a series of products in spring and summer of 2022, with products in autumn and winter of 2021 superimposed, forming a full range, from inner layer to outer layer. At present, after market research, user communication, user feedback, team discussion and design adjustment, most products have been developed and finalized, are being processed and produced, and continue to be updated.

In May 2022, the company opened a ski shop in Chengdu Rongchuang Snow World, which mainly sells X-BIONIC brand products. With its technological advantages and cool decoration style, it gained a good reputation. In the second half of the year, the company will also open ski shops mainly selling X-BIONIC products in snow resorts such as Chongli, (), Tonghua Wanfeng and Xinjiang Jiangjun Mountain. As for the flagship store, the company hired an internationally renowned retail design company to complete the store image design, and has signed a contract with Beijing International Trade Mall, and plans to open the first brand flagship store of X-BIONIC in China from the end of September to the beginning of October.

In the 2022 Beijing Winter Olympics, China won a total of 15 medals, including 9 gold, 4 silver and 2 bronze, ranking third in the medal list. As a supplier of functional sportswear for the Winter Sports Management Center of the State General Administration of Sport, X-BIONIC has provided good equipment support for the athletes of 11 national teams in the Winter Olympics and Snow Sports. After the Winter Olympics, many sports and fashion media, such as X-bioni () Champion Sports Illustrated, filmed fashion blockbusters and short videos of many winter Olympic champions and outstanding athletes, such as Ren Ziwei, Xu Mengtao, Qi Guangpu, Gao Tingyu, Fan Kexin, Qu Chunyu and Ahenar, showing the highlights of the champions and the sports technology performance of X-BIONIC. The Winter Olympics ignited the ice and snow craze. X-BIONIC and Lamborghini Automobile held the "X-BIONIC Lamborghini Beijing Ice and Snow Tour" at the Yuyang International Ski Resort in Beijing. Many Lamborghini car owners and fashion celebrities participated in it to jointly create a high-end sports lifestyle. In the field of outdoor exploration, X-BIONIC sponsored many excellent climbers and expedition teams, including the second national Qinghai-Tibet expedition team, to provide them with equipment support. On June 6th, 2022, X-BIONIC sponsored climbers Gao Li, Ren Yong and Lu Ping successfully reached the summit of Yinfeng in Langemann at an altitude of 6,294 meters, becoming the first "China Team" to climb Yinfeng in Langemann.

In order to strengthen the middle and back-office management ability of X-BIONIC brand operation, the company cooperated strategically with Xiamen Nanxun Co., Ltd. to develop and deploy the online Nanxun ECRP system (omni-channel customer management system), open up the membership level, points and welfare system, launch the X-BIONIC member center, build a integral mall, maintain the after-sales platform, and integrate the recruitment entrance of member activities, so as to provide consumers with more professional outdoor extension services and meet the diversified needs of consumers.

X-BIONIC brand operation is the core business of the company in the next few years. The company will focus on the main resources and strive to build the X-BIONIC brand successfully as soon as possible.

3. Organize the group construction of outdoor activities.

(1) Sanfu event

During the reporting period, the Sanfu event prepared for the event in a positive state, and adjusted the work strategy in time according to the epidemic situation and industry trends, maximizing the use of online power to mobilize user activity and expand the influence of the event. At the beginning of the year, affected by the epidemic situation, Sanfu Games actively carried out the promotion and training of employees’ special skills, and organized related trainings such as first aid and volunteer management, aiming at improving employees’ professional abilities. At the same time, we actively carried out external liaison. Chongli 168 Super Cross-country Race reached a strategic partnership with Thailand’s Intanong Super Cross-country Race ByUTMB, which took an important step towards the internationalization of Chongli 168.

In the first half of 2022, in order to maximize the brand concept of the event, the official accounts of "Chongli 168 Super Cross-country Race" were newly set up, so as to better serve the contestants with more targeted push content. At the same time, the investment in the member service was increased, and the richness and convenience of small programs were fully utilized to provide various support services for the contestants. The Chongli 168 Super Cross-country Race held from July 22nd to 24th, with more than 7,000 participants, involved 9 tracks, 13 groups, 6 starting points and 2 finishing points. The total race lasted for 3 days, posing unprecedented challenges to the track, rescue, replenishment, operation, epidemic prevention and member service. At the same time, it continued to spread the advantages of the past channels such as live broadcast, online interaction and race record sharing. Affected by the epidemic in the first half of the year, the 23rd Sanshou Triathlon was postponed, and its preparations were suspended in the first half of the year. In the preparatory process, Sanfu event signed an agreement with China Triathlon Association, and this year’s event was upgraded to A+ level competition of China Railway Association, and the event was recognized as a specific theme competition of China Railway Association. The competition will become one of the main tasks of the Sanfu event in the second half of the year.

(2) Sanfu League Construction

Sanfu Youth League continued to expand the national territory of light luxury camping, deeply cultivated the enterprise team to expand the training field, delved into the physical fitness training of young people, and explored a new outdoor lifestyle.

During the reporting period, Sanfu Tuanjian actively organized the offline enterprise group building business, seized the outdoor fashion trend in the first half of the year, vigorously developed the inherent enterprise group building business, and at the same time, fully explored the outdoor C-end market, and made remarkable achievements in the continuous expansion of SanfoHood camping factory brand, and effectively linked with the parent-child outdoor park to create the "Sanfu Little Warrior" competition for children’s outdoor activities.

In the first half of 2022, the group construction business maintained sustained and healthy development. In March, the Goddess Festival theme group building products were built, and 13 group building activities were held in a single week. At the same time, seize the inter-provincial tourism window, quickly carry out high-end customized group building activities, and complete three outdoor group building activities such as "Hiking on Black Horse Camp Moganshan", "Yunqi Capital Sailing for hegemony" and "() Chongli Meadow Challenge", which have been widely praised by enterprises. Through the continuous upgrading and breakthrough of industrial resources, Sanfu Youth League has realized the leap-forward expansion of light luxury camping and small warrior project, and will also carry out new fields of large outdoor industry and explore a new outdoor lifestyle in the second half of the year.

4. Parent-child and adolescent comprehensive quality education project

(1) squirrel tribe parent-child outdoor amusement park

During the reporting period, the "Squirrel Tribe" overcame all kinds of difficulties brought by the external environment, adhered to its purpose, and strived to build an ecological family entertainment center integrating parent-child sports, popular science education, leisure and amusement, and ecological environment protection, and build a third space for children’s growth.

On the basis of the first outdoor amusement project, the "Squirrel Tribe" in Nanjing has completed the construction of the second water park and put it into operation. The operation effect is good and it is deeply loved by parents and children. Faced with people’s demand for short trips and their love for camping, the "Squirrel Tribe" followed the changes of market and consumption, and made use of its advantages of "field", "study" and "research" to launch "SanfoHood Squirrel Tribe Camp" and camping activities in Nanjing and Chengdu respectively. Unique activities have brought diversity and rich experience to the products of "Squirrel Tribe". In the first half of the year, the "squirrel tribe" received a total of 262,900 tourists under the haze of the epidemic.

"Squirrel Tribe" spreads and promotes on "two micro-shakes" in a popular way. The projects in Chengdu, Wuhan, Zhengzhou and Nanjing have registered their own official accounts on Tik Tok, WeChat and Weibo respectively, and regularly and irregularly launched project videos and tweets, making full use of online traffic, and making the "Squirrel Tribe" squeeze into the local hot-selling list through live broadcast and delivery.

With the effective implementation of the national epidemic prevention policy, tourism relief policies have been introduced one after another, and the company has full confidence in the market recovery in the second half of the year.

(2) Eagle Safety Education and Training

During the reporting period, Eagle Sports made full use of the epidemic intermission to complete the Guizhou provincial-level 1,000-person walking race, which was also the only large-scale outdoor event in Guizhou Province in the first half of the year. Completed the May Day camping tent festival, and began to build light luxury tent camps, and expanded the activities of light luxury tent group building and the government light luxury tent festival business; Relying on the main business of the safety sector, two large-scale government-sponsored drills were completed to ensure that the camp still maintained some just-needed businesses such as safety education and training under the epidemic situation. In the first half of the year, a total of 68 safety training activities were carried out, with 26,577 trainees.

Eagle Sports has reached a framework agreement with relevant departments in Nanjing to invest in Nanjing Eagle Sports, and completed the writing of the feasibility report of the project and the construction of the architectural renderings of the barracks area, laying the foundation for the next Nanjing project construction.

In the second half of the year, Eagle Sports will continue to enrich the safety product courses, expand more safety research travel business, and continue to undertake and implement the Yuntai Mountain Climbing Race (completed on July 30), Longli Rock Climbing Challenge, Light and Luxury Parent-child Tent Festival and other projects to maximize the target benefits.

(3)SanfoHood Wild Luxury Camp+Sanfu Little Warrior

During the reporting period, the brand of SanfoHood camping factory continued to expand and achieved impressive results. In the first half of the year, a total of 8 camps were landed and operated nationwide. With the mature systematic operation structure and previous camp operation experience, we successfully seized the holiday travel bonus period and handed over the perfect answer sheet that the average daily flow of a single camp exceeded 200 people. At the same time, it has reached a strategic cooperation agreement with two high-end homestays in Beijing, namely, Tile Factory Hotel and Mountain Lodge, to jointly build a wild luxury holiday tent camp, enrich the product formats around camping, and work together to promote the development of camping industry in China. Actively expand B-end customers with camp operation needs, and provide camp design and customized camping products such as tents and awnings. At present, it has provided related services to camp operation customers in many provinces and cities in China.

In the first half of 2022, Sanfu Little Warrior completed six events in Nanjing, Chengdu and Zhengzhou, and more than 1,000 families participated in a single event. It has won wide acclaim and certain influence in the local parent-child market. In the future, we will actively expand the creation of Little Warrior IP, further promote the diversification of children’s outdoor products and enrich the ecology of the whole industry.

Through the above business segments, the company provides consumers with all-round products and services, builds an outdoor ecological platform with business users as the core, links people with outdoor brands, people with outdoor products, people with outdoor sports, and people with outdoor education, so as to realize customer group transformation among different segments, thus building a complete outdoor industrial cycle.

(III) The position of the company

Since its establishment, the company has been deeply involved in the outdoor industry and committed to the upgrading of the outdoor sports industry. R&D and production of high-functional professional outdoor sporting goods, continuous expansion of the influence of competition activities, and creation of comprehensive quality education IP for parents and teenagers with social significance have formed a good reputation and brand reputation in the industry in line with the business philosophy of operating in good faith and ensuring after-sales. It is a leader in the development of outdoor industry in China and has been rated as "National Sports Industry Demonstration Unit" by the State Sports General Administration.

(A) retail business information analysis

1. Store operation

By the end of the reporting period, the company had opened 47 professional outdoor products chain stores in 18 cities, including Beijing, Shanghai, Nanjing, Hangzhou, Chengdu, Shenzhen, Shenyang, Changchun, Qingdao, Shijiazhuang, Suzhou, Wuxi, Wuhan, Chongqing, Dalian, Zhengzhou, Zhangjiakou and Jilin, with a total area of about 20,600 square meters.

(1) Distribution of stores at the end of the reporting period

(2) The situation of the top ten stores with sales revenue during the reporting period.

(3) Store business income

In the first half of 2022, the company’s store business income was 116,042,500 yuan, accounting for 48.98% of the company’s operating income.

2. Changes of stores during the reporting period

(1) Newly opened stores

(2) Close the store

3. Store efficiency information of comparable stores during the reporting period

Note:

(1) Comparable stores refer to stores with comparable sales data in 2021 and the first half of 2022.

(2) The above does not include the closing of stores in the first half of 2022.

(3) Floor efficiency refers to the sales per square meter of business area during the reporting period.

(II) Sales on the inside during the reporting period

During the reporting period, the transaction volume of the company’s third-party sales platform was 137,684,800 yuan. With the continuous development and increase of the third-party e-commerce platform, the company’s sales in official website have gradually been linked to the third-party sales platform.

(III) Procurement during the reporting period

1. Supply situation of the top five suppliers in each commodity category

2. Inventory management policy

In terms of inventory management, the company has applied ERP invoicing management and WMS warehousing management system, which can know the inventory situation in real time, and the data of goods warehousing, warehousing and distribution, sales outbound and end-of-season inventory can be reflected in real time, and the sales and inventory data of various stores in the country and the inventory structure of various categories can be obtained at any time from the system; The product department and the commercial control department of the company will formulate the safety inventory of each category, and arrange the replenishment quantity in time when the goods are out of stock, so as to ensure the continuous sales demand and avoid the stagnation of the goods.

3. Handling policies and impairment provision policies for unsalable and expired goods.

For unsalable goods, the company will take the form of returning to brand suppliers, big promotion in spring, summer or late autumn and winter, opening outlet stores and temporary special sales, e-commerce platform channels, micro-shopping malls and so on. For expired goods, the shelf life management regulations shall be strictly followed, and the principle of first-in-first-out shall be guaranteed. For temporary goods, measures such as returning to manufacturers and bundling promotion shall be taken, and expired goods shall be destroyed and included in the loss.

As for the impairment provision policy, it shall be measured at the lower of cost and net realizable value on the balance sheet date. If the inventory cost is higher than its net realizable value, provision for inventory depreciation shall be made and included in the current profit and loss. On the balance sheet date, if the factors influencing the previous write-down of inventory value have disappeared, the write-down amount will be restored, and it will be reversed within the amount of the original provision for inventory depreciation, and the reversed amount will be included in the current profit and loss.

(4) Warehousing and logistics during the reporting period.

The company’s central warehouse is located in Changping District, Beijing, close to Shahe Higher Education Park in the Sixth Ring Road, with convenient transportation. The warehouse covers an area of 5,000 square meters, and is used for rapid turnover and storage of a full range of goods sold by the company, including out shoes, clothes, bags and equipment. During the reporting period, the warehousing expenditure was 659,500 yuan, and the logistics expenditure was 2,984,400 yuan, of which the self-owned logistics expenditure accounted for 1.96% and the outsourcing logistics expenditure accounted for 98.04%.

(5) Own brand

During the reporting period, the company’s own brand operating income was 63,814,200 yuan, accounting for 29.11% of the company’s main business income. Among them, the operating income of X-BIONIC products was 52.2584 million yuan, and the sales increased by 118.32% year-on-year.

Note: The decimal difference of total operating income in the table is due to rounding.

II. Analysis of Core Competitiveness (I) The huge development space brought by the acquisition and operation of X-BIONIC, a luxury brand of black technology sports, has been widely recognized by many professional athletes in the world for its strong black technology attributes. "X" stands for technology, creativity, future and infinite possibilities, "BIONIC" stands for bionic technology, and X-BIONIC embodies the spirit of exploration, technology and passionate sports. After acquiring the ownership of "X-BIONIC" and "X-SOCKS" brands in China, the company absorbed and integrated its advanced technology, accepted the popularity and reputation of its international brands, combined with international and domestic R&D and production capacity adapted to the market, and closely cooperated with major international suppliers of high-quality raw materials, relying on the company’s accumulation in the outdoor sporting goods industry for many years, achieving brand development, which brought huge development space for the company’s production and operation. (II) Complete Outdoor Industry Operation Platform The company builds an outdoor ecological platform with operating users as the core, linking people with outdoor brands, outdoor products, outdoor sports and outdoor education by developing and selling professional high-quality outdoor sporting goods, operating X-BIONIC black technology sports luxury brands, organizing outdoor sports league construction, and designing, constructing and operating parent-child and adolescent comprehensive quality education projects. (III) Outdoor Multi-brand, All-category Product Structure Company, as one of the earlier enterprises engaged in outdoor industry, has been deeply involved in the industry since its establishment in 1997, and established a lasting and stable cooperative relationship with hundreds of outdoor brands at home and abroad, knowing the core advantages and applicable situations of different brands, different categories and different products, and forming in-depth insight and understanding of product characteristics, so as to provide professional and personalized product selection suggestions for different consumers in different scenarios and provide in-depth service to user groups. At present, the company has its own brands such as X-BIONIC, X-SOCKS, SANFOPLUS, ANEMAQEN, SANFO, KIDSANFO, etc., acting as an agent and distributing 300+ outdoor famous brands, with more than 8,000 SKUs. The product categories cover outdoor sports, daily business and leisure and other scenes. Some of the core brands are as follows: (4) Companies with strong R&D capabilities of their own brands have established many own brands such as ANEMAQEN, SANFO, KIDSANFO, SANFOPLUS, etc. by using more than 20 years of experience and in-depth understanding of products and customer groups, and have the ownership of IP in China, such as "X-BIONIC" and "X-SOCKS". The design R&D team consists of more than 40 professionals, including designers, typographers and material developers, focusing on the control of key links such as typography design, process optimization and production quality control.Focus on target market segmentation and diversified product design direction, constantly reform and innovate in fabric selection and functionality, and combine high-quality materials with advanced technology to empower sports and achieve a more comfortable, reassuring and cool brand experience. At present, the company has established in-depth cooperative business relations with international high-quality functional fabric companies including GORE-TEX, Schoeller, Polartec, Pertex, Primaloft, Allied, Toray, Cordura, Carvico, etc., which has laid a solid foundation for new product R&D, production and supply chain. Since the private brand products have been put into the market, they have gained a good market reputation, and the company’s core competitiveness and gross profit margin will be strongly guaranteed. (V) All-round distribution of sales channels The company has an independent team for expanding stores and a comprehensive evaluation system for opening stores. Combined with historical successful experience and business data, it evaluates and considers from various aspects such as region, consumption power, passenger flow, location, cost and return on investment, scientifically calculates and deduces the profit model, and selects excellent solutions to ensure the profitability of physical stores. Through offline channel coverage, online business development, group procurement promotion, event linkage and other means, we will comprehensively broaden sales channels and achieve online and offline coordinated development, which has strong industry influence in the professional outdoor field. (VI) Experience in organizing professional competitions and group building activities. The Sports Management Subsidiary has been focusing on the promotion and popularization of professional outdoor sports for many years.It has won the title of chinese mountaineering association Model Club and AAA outdoor sports club qualification for many years, and is a member of China Triathlon Association, Marathon Committee of China Athletics Association and International Cross-country Running Association. With the competition as the engine, the company is committed to leading Chinese people to develop a good outdoor sports lifestyle. At present, it has become a professional competition operation organization with large scale and strong technical strength in China, and its business ability is at the leading level in China from organization planning, route survey to guarantee implementation. The types of events cover daily training, entry-level events and long-distance super events, and there are many events with international brand influence such as Sanfu Triathlon and Chongli 168. The company has been fully recognized by members, contestants and outdoor sports enthusiasts in the event, and the members of the company have the characteristics of strong stability and high loyalty. The skill training subsidiary focuses on the in-depth development of enterprise group building business and occupies a leading position in the field of outdoor training for enterprises. After more than ten years of industry accumulation, a high-quality coach team composed of hundreds of professional senior coaches has been deposited, including many star coaches with national professional qualification certificates, more than ten years of experience and tens of thousands of training experiences. Established a deep cooperative relationship with many high-quality camp resources with unique outdoor entertainment attributes. After more than ten years of deep cultivation and business expansion, the company’s customer resources have covered more than 20 industries, including the Internet, technology and finance, including dozens of Fortune 500 companies, listed companies and emerging Internet technology companies. Quality customer resources,Long-term strategic cooperation, strong faculty and all-round enterprise services have enabled the company to win a stable market share and continue to drive business growth. (VII) Mature Operation and Management System of Quality Education Project for Parents and Teenagers Shanghai Xile Subsidiary is the main operator of "Squirrel Tribe". After years of exploration and practice in outdoor sports, entertainment and education, it has taken the lead in establishing standardized operation and management processes and curriculum research and development systems in the industry, and has a strong first-Mover advantage in product design, management concept, safety awareness and daily protection. "Squirrel Tribe" has its own brand IP image, and radiates clothing, picture books, courses and other related fields. By optimizing iterations, it enhances IP influence, systematically exports management service capabilities to the industry through joining, and enhances the radiation radius of IP regions. At present, the "Squirrel Tribe" has formed a good driving effect throughout the country. With the landing of projects with first-tier cities as the core, the brand awareness will be further enhanced. Eagle Sports Subsidiary owns the brand of "Eagle Safety Education", focusing on youth safety education, integrating diversified contents such as earthquake prevention and disaster reduction, self-care and self-rescue, popular science safety, youth safety education and training, etc. It can simulate various disaster sites to carry out various forms of skills training such as disaster prevention and mitigation, emergency rescue and emergency rescue, and enhance the self-help and self-care ability of young people in emergencies through experiential training. It has profound experience and mature operation mode in the youth safety quality education industry. Eagle sports investment and constructionGuizhou Yingji Outdoor Safety Base for Disaster Prevention and Mitigation has been awarded many honorary titles by Seismological Bureau of China, governments at all levels and superior units, such as National Popular Science Education Base for Earthquake Prevention and Mitigation, Publicity and Education Base for Disaster Prevention and Mitigation Safety in Guizhou Province, Publicity Base for Popular Science Education in Guizhou Province, and Training Base for Youth Self-care and Self-help in Guizhou Province. By continuously expanding the quality education program for teenagers, the company has become one of the representative enterprises in the field of outdoor unpowered sports, natural history exploration and safety education. (VIII) High-quality and stable membership group The company always adheres to the service tenet of "customer first", pays attention to the construction of customer information system, and uses CRM customer relationship management system to integrate online and offline multi-channel resources to carry out unified membership service and management. Actively cultivate new members, firmly maintain old members, increase value and optimize members’ rights and interests, and improve viscosity and repurchase rate; Establish accurate expansion of user portrait analysis needs; Provide timely and high-quality pre-sale, in-sale and after-sale services, pay attention to satisfaction feedback and follow up to enhance interaction; A loyal and stable membership base will help drive channel traffic and performance growth. (IX) The company with high industry popularity and reputation takes "encouraging and helping people to go outdoors, exercise healthily, and fully practicing the life concept of harmonious coexistence between man and nature" as its mission, and always adheres to the business philosophy of "honest management-ensuring after-sales" to provide consumers with multi-brand and full-range products. At the same time, to ensure the quality of service,The company has always adhered to the strategy of opening a store directly, and has established standardized management processes in product selection, storefront display, customer reception, professional explanation, inventory management, after-sales service, etc., which fundamentally ensures the unity and quality of foreign services. The company pays attention to establishing close cooperative relations with upstream and downstream enterprises and competent departments in the industrial chain, strictly fulfills commercial contracts, abides by business rules and business ethics, and has formed a good reputation and influence in the industry. In recent years, the company has won many awards, including National Sports Industry Demonstration Unit, Typical Enterprise of Ministry of Commerce, Zhongguancun High-tech Enterprise, Beijing AAA Credit Enterprise, Beijing Chengxin Creation Enterprise, Beijing Sports Industry Demonstration Unit, member units of Beijing Zhongguancun Enterprise Credit Promotion Association, Beijing Top 100 Private Enterprises with Social Responsibility, Beijing Top 100 Small and Medium Private Enterprises, Xicheng District Civilized Unit and Worker Pioneer, Zhongguancun Credit Cultivation Double Hundred Project "100 Most Influential Credit Enterprises" and so on. And ISO9001 quality management system certification, ISO14001 environmental management system certification, GB/T28001 occupational health and safety management system certification, etc.

Iii. Risks faced by the company and countermeasures (I) Risks that the X-BIONIC brand fails to meet expectations. Although the X-BIONIC brand has strong scientific and technological functional advantages, it takes a long time to establish brand awareness in the market as a new brand. Brand awareness also affects channel construction and sales performance. To fully operate the brand and test the company’s comprehensive ability, there is a risk that it will fail to meet expectations within a certain period of time. Countermeasures: Make clear the positioning of X-BIONIC black technology sports luxury brand, form a strong team from product research and development, brand marketing, channel construction and customer service, form operational capabilities, and ensure the stable and successful operation of X-BIONIC brand. (II) Risk of Force Majeure, such as repeated local epidemics and short-term stagnation of consumption. At present, domestic epidemics may face repeated situations. Repeated local epidemics may affect the sales of offline physical stores, the passenger flow of squirrel tribe parent-child outdoor paradise and Eagle safety education base, and the construction of outdoor games, and will also have an impact on the supply chain. Countermeasures: vigorously develop online business, seize new business opportunities such as camping, maintain close communication with international suppliers, send orders in advance to purchase and prepare emergency plans, control costs at the same time, adopt a more cautious attitude towards new project investment, and buffer the challenges brought by force majeure such as repeated epidemics to the greatest extent.

Red flag "Guoya opens the reservation": the pre-sale price is 1.1 million-1.46 million, and independent 4-seat and 5-seat versions are available!

[AutoCon royal car] original, without permission, reprint is prohibited!

The brand-new Red Flag Golden Sunflower Guoyao, once internally code-named C801, that is, the Red Flag L1 model opened a global reservation at the flagship of # Beijing Auto Show #, and provided the reservation rights such as lifetime free maintenance. According to "AutoCon Royal Car", according to the news from Hongqi Experience Center, the estimated price of Hongqi Guoya 3.0T model is 1.1 million-1.2 million; The estimated price of Guoya 4.0T model is between 1.3 million and 1.46 million.

Hongqi Guoyao is positioned as an "ultra-luxury executive car", offering no less than 8 kinds of car body colors, including 3 kinds of two-color painted cars, which are divided into 5-seat versions and independent 4-seat versions, combining 3.0T and 4.0t.Oil-electricity mixingThe combined power system, in addition to the optional models, provides at least four models: five-seat version of 3.0T with two different configurations, five-seat version and four-seat version of 4.0T;

Accordingly, the entry-level model of Hongqi Guoya 3.0T should be priced at 1.08 million, and the high-end version of 3.0T should be priced at 1.18 million. The 4.0T five-seat version is priced at 1.3 million, and the four-seat version is priced at around 1.46 million. In this way, the pricing of Hongqi Guoya is more reasonable, which not only conforms to the brand positioning of Hongqi high-end sunflower, but also conforms to the product positioning of "ultra-luxury executive car", which is not as high as the starting price of the Horsey version, but higher than the pricing of S-class and Audi A8L with the same displacement!

But Hongqi Guoya announced it.The maximum power of the 3.0T engine is 290kW, and that of the 4.0T engine is 360kW, which is obviously better than that of the 2.5T and Audi A8L 55 of Mercedes-Benz S450L specially designed for China. TFSI quattroModel and 60After all, the 3.0T and 4.0T of TFSI quattro models have the blessing of motors, and the net power of the engines is unknown at present!

At present, there is not much configuration information that can be referenced and published by Hongqi Guoya! But even so, it has been fully arranged. Intelligent four-wheel drive, dual-chamber air suspension, rear wheel steering, the world’s first flexible scroll screen, AR-HUD virtual reality head display, multi-mode interactive system of face fingerprint, and state secret algorithm are not only courteous, but also thoughtful, not only safe, but also comprehensive.

"Hongqi Guoya" doesn’t have a mysterious color like "Hongqi Guoya". Hongqi Guoya will be a market-oriented model. The car is scheduled to be put into production in mid-2024, with an annual production capacity of 15,000 vehicles and a monthly sales volume of about 1,200 vehicles. The production capacity planning goal is very clear, which is equivalent to the current domestic S-class sales level in Maibakh … The above content comes from the analysis of "AutoCon Imperial Car".

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This article was originally written by AutoCon Imperial Car, No.182117,

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Is 170,000 bargain-hunting worth it? Measured magotan 330 TSI

  [car home Professional Evaluation] Not long ago, the new generation (|) gained a lot of attention, but FAW-Volkswagen did not turn a blind eye to the B8 generation products, but chose the sales strategy of new and old under one roof. Our test car is the 2024 Magotan 330 TSI of B8 generation. It can be seen that it is no different from the previous model. As the "last goalkeeper" of B8 Magotan, is the product performance of this car still online? Let’s watch it together!

Home of the car

A quick review of exterior and interior decoration

FAW-Volkswagen Magotan 2024, 2 million cars, 330TSI DSG luxury model.

FAW-Volkswagen Magotan 2024, 2 million cars, 330TSI DSG luxury model.

  The standard front seat ventilation/heating function is a bright spot, which can improve the cabin comfort in summer and winter. It is worth mentioning that the seat configuration of the new Magotan 380 TSI Premium Edition is far less good, and the heating and ventilation only support optional. Although the screen size and the UI of the car are almost boring in creating a scientific and technological atmosphere, the business attributes have all the functions, and the smoothness of the whole experience is ok.

Space expresses traditional strengths

  The space part is the traditional strength of Volkswagen Magotan. In the standard space test in car home, the front row height is 945mm, the head space is abundant, and the length of the seat cushion is 530mm, which can better support the legs. The transverse width of the front row reaches 1555 mm.

FAW-Volkswagen Magotan 2024, 2 million cars, 330TSI DSG luxury model.

  The height of the rear row is 925mm, and the head space is slightly compressed. The width of the rear row is 1535mm, and the length of the seat cushion is 470mm, which is acceptable for supporting the legs. The wheelbase of 2871mm ensures spacious leg space. It is a pity that there is a big bulge on the middle floor in the back row.

FAW-Volkswagen Magotan 2024, 2 million cars, 330TSI DSG luxury model.

FAW-Volkswagen Magotan 2024, 2 million cars, 330TSI DSG luxury model.

  The storage space is very traditional. There are storage slots under the front and rear door panels, a cell phone slot and two cup holders in front of the center console. The opening of the central armrest box is relatively limited, and a USB-C interface is built in, which invades a certain space. The storage space of the glove box is normal. There is a storage board on the central armrest in the back row and a hidden cup holder.

FAW-Volkswagen Magotan 2024, 2 million cars, 330TSI DSG luxury model.

  The Volkswagen Magotan 330 TSI comes standard with an electric tailgate. As a medium-sized car that focuses on business, the trunk must have enough luggage space, which can well accommodate the three sizes of suitcases we have prepared, and there is still a certain margin.

FAW-Volkswagen Magotan 2024, 2 million cars, 330TSI DSG luxury model.

  The trunk has a large opening and a regular shape, and the conventional depth is already at a good level. When the rear seats are laid down, it undoubtedly increases the flexibility of placing items.

More exciting videos are all on the car home video platform.

The dynamic parameters are slightly superior.

FAW-Volkswagen Magotan 2024, 2 million cars, 330TSI DSG luxury model.

FAW-Volkswagen Magotan 2024, 2 million cars, 330TSI DSG luxury model.

  In urban driving conditions, this car may be very active in upshifting because of fuel economy, and will basically keep the highest gear at the current speed. When the overtaking intention is recognized, the downshift operation is neat and not procrastinating. The steering wheel feels a little heavy, and the victory lies in the accuracy of pointing. In addition, the road feeling of the vehicle in driving is very clear, which is the consistent style of German cars.

Stable performance of energy consumption

Home of the car

  On the day of the test, the temperature was 32℃, and we set the air conditioner to 23℃ automatic, and the gear was D, so the driving mode could not be adjusted. The distribution of road conditions covers common congestion, urban roads and expressways. The test stopped after driving 167.46km, the average speed of the whole journey was 30.1km/h, and finally 14.15L of No.95 gasoline was filled, and the measured fuel consumption was 8.45L/100km.

More exciting videos are all on the car home video platform.

Jiangling Kaiyun + brand new listing! Focus on 9 major market segments

When it comes to the "golden signboard" of the light truck industry, Jiangling was once in the limelight in the light truck industry.

Since the first Jiangling Kaiyun was launched in 2004, many users can think of Jiangling Kaiyun when they say "durable, fuel-efficient and safe", which is the charm brought by the brand. On February 10, 2023, the "golden sign in the light truck industry" Kaiyun + the launch conference of the new generation of light trucks was held at Nanchang Jiangling Toyama Smart Factory.

In 2023, with the gradual recovery of the economy, a series of policies to promote consumption and expand domestic demand will stimulate the demand of the light truck market, and the new blue card light card regulations will also help the light truck industry to develop in the direction of compliance, intelligence and new energy. Standing at a new starting point, what is the brand connotation of Jiangling’s new generation of Kaiyun +? What are the highlights of the new generation of Kaiyun + in different market segments? Please see Fangde.com’s report.

The first model developed by "Qingyun Architecture" has deep insight into user requests

2023 is a year of great change in the light truck market. Under the background of the gradual weakening of the impact of the epidemic and the recovery of the economy, regulations are becoming more and more stringent. With the development of smart logistics and smart cities, the light truck industry is developing towards intelligence, networking, sharing, and electrification. The needs of the client base in the light truck market are gradually changing.

The competition for products in the light truck market has intensified, and the implementation of the new blue brand regulations has led to new changes in urban logistics and customer demand, which in turn has promoted a tremendous change in the product structure of light trucks. This not only puts forward higher requirements for the R & D and manufacturing of light truck manufacturers, but also promotes the transformation and upgrading of the industry. In the future, it will be key for light trucks to have both compliance and superior user experience. As Jin Wenhui, first executive vice president of Jiangling Automobile joint stock company, said, "In this new era of change, Jiangling Automobile spent 1 billion to build Qingyun technology architecture, the underlying technology architecture for future logistics and ecology, which can cover oil cars, trams, hybrid and other models, making our products smarter, more energy-efficient, and at the same time have the advantages of lightweight, high growth and modularity. Jiangling Kaiyun + is the first model developed by Jiangling according to Qingyun architecture."

At the scene, Liu Rangpo, vice president of Jiangling Automobile joint stock company and general manager of Jiangling Automobile Sales Co., Ltd. announced the price and supporting preferential policies of Kaiyun +, Kaiyun + furniture version, priced at 96800; Kaiyun + engineering version, priced at 97800; Kaiyun + express express version, priced at 101800; Kaiyun + supermarket version, priced at 102800; Kaiyun + fruit and vegetable version 104800; Kaiyun + mountain version, priced at 115600; Kaiyun + aquatic version, priced at 119800; Kaiyun + building materials version, priced at 122800; Kaiyun + refrigerated version, 131600. If you buy a car in the first month of listing, you will enjoy a value-added gift package of 10,000 yuan: the engine and gearbox will enjoy lifelong quality assurance, a financial discount of 3482 yuan, and a cash subsidy of 3,000 yuan for vehicle upgrades (replacements).

The new generation of Kaiyun relies on strong power output, reliable body configuration, comfortable driving experience, and rich intelligent configuration. Through eight major upgrades and nine customized product configurations, it has launched a product portfolio to perfectly meet the needs of users in different scenarios, establishing a new leading benchmark in their respective scenarios.

Immersive scene experience brings scene segmentation to the extreme

The light truck industry has entered the era of scenarios. The usage scenarios of users in different market segments are used as the benchmark for light truck product design, and the vehicle parameters, configuration, and performance are accurately improved and matched for users in different scenarios. Ultimately, it will meet the needs of users and maximize customer value. It will become the focus of competition among light truck companies. At this time, the listing of Jiangling Kaiyun + can be said to be at the right time. This time, the listing of Jiangling Kaiyun + is the "accumulation" of Jiangling after three years of precipitation and polishing. This conference chose to build a real use scenario in Jiangling Toyama Smart Factory to bring you an immersive experience. With nine sub-scenarios, it is convenient for users to understand Jiangling Kaiyun + more intuitively, which also reflects Jiangling’s in-depth insight into the new regulations and user requests.

For users with different needs in different industries, Jiangling Kaiyun + has created immersive experience scenarios for the nine versions of engineering version, building materials version, express delivery version, refrigerated version, supermarket version, aquatic version, furniture version, mountain version, and fruit and vegetable version. For the special use scenarios of mountain users who run more slopes and long bends, Jiangling Kaiyun + mountain version is equipped with a Fast 8-gear box, which has stronger climbing ability; widened leather sheet and brake water spray ensure stronger braking force of the vehicle. Match the industry’s widest 900mm frame, 1680mm rear wheel pitch, and more stable cornering. For building materials transportation users, Jiangling Kaiyun + provides a 3-meter-6 wheelbase model with a more stable center of gravity and a higher-load frame, which is convenient for users to rest when loading and unloading.

For aquatic transportation users, Jiangling Kaiyun + has reserved oxygen production, oxygen transmission pipelines, drainage tanks, and drainage holes in terms of preservation. In terms of corrosion prevention, Jiangling Kaiyun + provides anti-corrosion compartments with composite materials, aluminum alloy wheels, and composite materials, which are fully anti-corrosive and can ensure that the compartments are more durable.

For supermarket distribution users, Jiangling Kaiyun + takes into account the pain points of high labor intensity and low efficiency in loading and unloading goods. It is equipped with a hydraulic hoarding on the car, and at the same time, the edge plate of the cargo box is reinforced and protected to ensure that the cargo compartment is more durable. The braking scheme of the front disc and the rear drum makes the vehicle drive more smoothly in the urban area and ensures that the goods are intact. 360 panoramic images allow users to calmly cope with crowded road conditions. The intelligent fuel-saving switch of the APP makes the vehicle’s power more suitable for the use scene and more economical. In response to the use scenario of refrigeration, Jiangling Kaiyun + provides a 113 horsepower Tengbao 3.0 engine, which is powerful, 150 amps high-power generator, worry-free electricity consumption, integrated installation of dual compressor brackets, one-button cooling function in the cab, making the car more convenient, exclusive shroud, lower fuel consumption in operation. In today’s unstoppable new energy trend, Jiangling light trucks are also at the forefront of the industry in terms of new energy. On-site Founder saw the debut of Jiangling’s new generation of pure electric light trucks, E-Luda. This pure electric light truck will officially meet with you in the second half of 2023 or will be exhibited at the auto show.

Lucky + or Lucky "Home"

Jiangling Kaiyun + lives up to its name of "Kaiyun +" with its unique brand genes that have been deeply cultivated in the industry for many years and the accumulation of many years of manufacturing experience. This "+" of Jiangling Kaiyun + represents addition and upgrade. Eight major upgrades in appearance, comfort, quality, energy saving, power, load bearing, safety and intelligence. Jiangling Kaiyun + matches a new cab with the blessing of Qingyun architecture, and the chassis is fully upgraded and evolved. The whole vehicle has lower fuel consumption, stronger load bearing, better power adaptation, safer vehicles, smarter and more comfortable driving experience, more reliable quality and more efficient use.

In order to further reduce the user’s cost of use, Jiangling Kaiyun + also strives for excellence in terms of economy, carefully crafted streamlined new appearance, wind resistance coefficient as low as 0.45, comparable to light passenger models. After actual road tests, Jiangling Kaiyun + models have a comprehensive fuel consumption of 10 liters per 100 kilometers, which is lower than the industry level of 1 liter, and 100,000 kilometers can save 10,000 yuan in fuel costs. The load capacity of Jiangling Kaiyun + has also been significantly improved. The whole frame is designed with a straight beam, which has good dimensional stability and high precision, which improves the stability of driving. At the same time, the width of the frame can reach 900mm, making it the widest blue brand light truck frame. The industry first uses super steel material with a bearing capacity enhancement of 83%, which is the best in the industry. All models come standard with a 4-meter-2 length container, providing maximum container capacity.

The new Kaiyun + also provides users with a rich product portfolio, powered by three engines: Tengbao JX4D30 163 horsepower, Tengbao JX4D25 152 horsepower, and Tengbao JX493 129 horsepower. The models include narrow-body models that flexibly shuttle through the streets and alleys, mid-body models that meet the needs of three-person rides, and wide-body models with their own sleeper that can rest at any time. From logistics, cargo, to dedicated and modified, from 129 to 163 horsepower, from 5-gear boxes, 6-gear boxes to 8-gear boxes, Jiangling Kaiyun + can be said to have achieved full-category and full-horsepower coverage, fully meeting the diverse needs of customers in different market segments. In terms of efficient operation, Jiangling Kaiyun + provides OTA remote upgrades, intelligent early warning, vehicle physical examination, smart maintenance, driving behavior analysis, smart fleet, night service, fault alarm and other eight service modules, and launches Jiangling light truck OurHours operation system. In addition to being a bonus in all aspects, "Give all Jiangling Kaiyun users a home" is the deep meaning and vision of Jiangling Kaiyun +.

The new regulations are released, and the blue card light card market is facing a new reshuffle, which is both a challenge and an opportunity for Jiangling. Especially in today’s logistics and transportation environment, users’ needs for fuel conservation, efficiency, safety and comfort are becoming more and more urgent. A reliable light truck product is not only a close partner of card friends on the wind and rain road, but also a guarantee for family life. Jiangling’s new generation of Kaiyun + is not only strong in power, wide in vision, comfortable in driving, safe and reliable, and more in line with the car needs of card friends in the new era. For users, a car should not just be a means of making money, but also a responsibility, a hope, and their loyal partner, a "home" to shelter from the wind and rain.

Yang Chaogang, General Manager of Light Truck Division of Jiangling Automobile Sales Co., Ltd., on behalf of the majority of users, shares the deep fate between car owners and Kaiyun. All along, Jiangling has been well aware that customers are the most important resource of an enterprise and the foundation of its survival and development. It has continuously practiced the management concept of "customer-centered" and insisted on providing customers with the best products and services. The listing of Kaiyun + reflects Jiangling’s values of achieving customers. People-oriented, creating greater value for customers, is a strong driving force for Jiangling to achieve development.

"Those who win the user win the world", whether it is a golden sign or a new dark horse, if you want to strive for the top in this industry reshuffle and competitive environment, you must first deeply understand the real needs of consumers.

The new generation of Jiangling Kaiyun + has truly solved user pain points, created value for users, aimed at customization of user requests, and achieved the ultimate scene-based solutions for market segments. (Text/rider number, Fang Dewang)

iQIYI lost the lawsuit of "Celebration Yuannian", but what didn’t lose was advanced on-demand

  Author/Yali, Editor/Guo Ji’an

  "I won. Thank you, Judge."

  At 4:58 pm today, as soon as the "iQIYI" Celebration of More Than Years "case ended, the plaintiff Wu Shengwei eagerly posted this Zhihu update.?

  It all started with the hyped-up "Qingyu Nian" advanced on-demand event last year. In December last year, "Qingyu Nian" launched an advanced payment model during the broadcast, allowing members to unlock the advanced on-demand privilege at a price of 3 yuan per episode, or pay 50 yuan to watch 6 episodes in advance.

  The news broke and public opinion was in an uproar. Lawyer Wu Shengwei believed that the platform had violated his rights as a golden VIP member in disguise, so he sued the broadcasting platform iQIYI in court with a complaint.

  This afternoon, the case was handed down at the Beijing Internet Court. The court ruled in court that iQIYI’s "iQIYI VIP Member Service Agreement" was partially invalid; the "paid ahead on-demand" clause updated after the defendant purchased the membership service was not effective for the defendant; iQIYI should continue to provide the defendant with the original membership rights.

  Soon, people began to carry the results of the trial on social platforms such as Weibo. Luo Gus, a lawyer who had also sued Tencent Video for "Qingyu Nian", also summarized the verdict on Zhihu, which was also the four points that many people summarized when discussing the results of the trial:

  However, is the "advanced on-demand" model really illegal? Entertainment Das Kapital, who watched the live broadcast of the entire trial, found that in fact the court did not find the advanced on-demand business model illegal. The plaintiff in this case was able to win the case mainly because the unilaterally changed new contract damaged the original rights and interests of members.

  iQIYI also issued a statement at the first time, saying that "there is nothing wrong with the advanced on-demand model". The court held that iQIYI’s launch of the advanced on-demand model is justifiable, and the change of the contract is necessary and reasonable in the industry. It does not deny the entire business model.

  The plaintiff in the "Qingyu Nian" case won, but "advanced on-demand" is not illegal

  We shall focus on unraveling the first two points mentioned by Venlogus, which are currently the most controversial.

  First, "advanced on-demand" is illegal and constitutes a breach of contract.

  In fact, the judge had already emphasized in his sentencing, "Relying on Internet technology, people’s differentiated needs for work and life are gradually satisfied. The’membership-based ‘service model launched by video platforms based on consumer willingness has been accepted by the public. It is not inappropriate to explore new video broadcast methods on this basis."

  To be precise, the judgment of "Qingyu Nian" in breach of contract was mainly because the platform did not clearly inform users before changing the membership contract, and the new "advanced on-demand" model essentially damaged the interests of users. Because the plaintiff Wu Shengwei purchased iQIYI members in June 2019, but iQIYI added the advanced on-demand clause without authorization on December 8, 2019. The violation is this act of changing the contract, not the advanced on-demand model.

  In other words, if you purchased a member after iQIYI changed the contract on December 8, 2019, you can be considered to agree with the advanced on-demand model, and it is unlikely to win the case like this plaintiff. This legal precedent cannot benefit others and has certain particularities.

  Second, the nesting doll clause that "stipulates that the standard clause is not the standard clause by the standard clause" is illegal and invalid.

  The judgment concerns a common "standard clause trap" in contracts. In its December 2019 membership agreement, iQIYI mentioned that "both parties agree that the aforementioned exemption and limitation of liability clauses do not belong to the clauses stipulated in Article 40 of the Contract Law that’exempt its liability, increase the liability of the other party, and exclude the main rights of the other party ‘. That is, both you and iQIYI agree to the legality and validity of the aforementioned clauses, and you will not claim that the clauses in the agreement are illegal or invalid on the grounds that iQIYI has not fulfilled its obligation of reasonable presentation."

  The court held that the iQIYI membership agreement was an agreement unilaterally issued by the platform without consultation with the other party, and was a standard clause stipulated by law. The above statement violates the mandatory provisions of Article 40 of the Contract Law on the validity of standard clauses. At the same time, the standard clause requires the user to promise to give up claiming that the standard clause is illegal or invalid on the grounds that "iQIYI company has not fulfilled the obligation of reasonable presentation". It is a situation where the standard clause is used to simulate that it has fulfilled its legal obligations, so it is invalid.

  That is to say, the court held that iQIYI’s membership agreement contained multiple cases suspected of exempting itself from liability and increasing user liability, which essentially violated Article 40 of the Contract Law (the main content is: if one party provides a format clause to exempt its liability, increase the liability of the other party, and exclude the main rights of the other party, the clause is invalid), so it is not supported.

  Similarly, the statement in the iQIYI membership agreement that "you will not claim that the terms of the agreement are illegal or invalid on the grounds that iQIYI has not fulfilled its reasonable obligation of presentation" is in the form of standard terms to relieve iQIYI of its legal obligations as the drafter of the standard terms, and it is also illegal.

  After listening to the entire judgment, it is not difficult to find that the court can understand the motives and reasons for iQIYI’s implementation of the advanced on-demand model, and also acknowledges that its unilateral change of contract is necessary and reasonable in the industry. However, it still emphasizes that the implementation of the new model should be based on the principle of not harming the rights and interests of the original members.

  Regarding the two points of contention between the two parties: first, whether the advance on-demand harmed the interests of the original members; second, whether iQIYI fulfilled its obligation to inform in advance before changing the terms, the court’s answer was negative.

  Therefore, if Youku, iQiyi, and Tencent want to implement the advanced on-demand model or other’VVIP ‘models in the future, they must clearly mark the price. Before changing the contract, users should also be clearly reminded in a prominent position. The advanced on-demand model is not illegal, and it is illegal to unilaterally change the contract and damage the interests of users.

  

  iQIYI launches Star Diamond membership, from "advanced on-demand" to upgrade price increases

  Obviously, after the "Qing Yu Nian" advanced on-demand turmoil, the platform also realized the risk of this model. Almost all the episodes that implement the advanced on-demand model on the market today have key information such as price and episode number written in the "drama chasing calendar" before going LIVE.

  iQIYI also launched Star Diamond members not long ago. Star Diamond members not only have the rights of Gold VIP members, but also can watch advanced on-demand and Star Diamond Cinema content, covering kiwi Star Diamond members, FUN members, literary members, sports public members, and VR members. Multi-member rights.

  Many rights and interests correspond to a high price: the price is 60 yuan per month, 40 yuan per consecutive month, and 398 yuan per consecutive year. Compared with the previous price of 19 yuan per consecutive month and 218 yuan per consecutive year for Gold VIP members, the price of Star Diamond VIP has almost doubled.?

  The platform here is pushing Star Diamond members, and there are people on Weibo and various groups every now and then sending coupons to sell Youku, iQiyi, and Tencent 99 yuan membership cards. The previous members are really worthless.

  It was to be expected that iQIYI’s focus would gradually shift to increasing Star Diamond membership. From the original dark test of advanced on-demand to the packaging of advanced on-demand content into Star Diamond members, the purpose of this upgrade was obviously to increase the average income of a single paying user.

  However, after the launch of Star Diamond members, iQIYI will face a greater test in terms of content: is the existing content of the platform sufficient to support the price of Star Diamond members?

  In terms of price alone, the existing Star Diamond members cost a full 180 yuan more a year than the previous Gold members. At present, users who pay extra can generally watch 8 to 10 episodes in advance for episodes that are ahead of the demand. We calculate according to 3 yuan per episode on demand, and it costs up to 30 yuan to order a single drama. A user must encounter at least 180/30 = 6 dramas that are willing to be ahead of the demand a year. Buying Star Diamond members will not lose money (excluding Star Diamond members, FUN members, literary members and other rights).

  The question is, with the quality of the shows currently available on video websites, can a user encounter six shows that are willing to get ahead of the game in the next year?

  The platform obviously knows that high-quality content is the core of supporting member upgrades. This can be seen from the recent iQIYI launch of Mist Theater, which focuses on 12-episode boutique skits.

  In the long run, the advanced on-demand model is conducive to the future development of the film and television industry. If the platform can share the revenue from the advanced on-demand model or upgrade the membership price with the filmmakers, encourage the filmmakers to produce better quality content, and achieve a positive cycle, the industry may usher in a true C-end payment era in the future. According to Entertainment Capital, after launching the Star Diamond membership, iQIYI is already discussing the issue of revenue sharing with the production company.

  The ideal situation is that the platform gradually cultivates the habit of users to watch "advanced on-demand" or buy more advanced members, and can share the revenue with the filmmakers, and the quality of the series content continues to improve; the worst situation is that users believe that the platform content is not worth the price, and some users will even return to watch pirated copies. The film and television industry continues to be trapped in the cycle of platform losses and filmmakers making no money.

  The case of "iQIYI" Qingyu Nian "is a landmark event in the dynamic game between the platform and users.

  The official understands the behavior of video websites to explore more business models in order to meet the differentiated needs of users, and believes that it is not inappropriate to advance the on-demand model. But at the same time, it also believes that the healthy development and operation of the business model is based on following commercial terms, respecting user feelings, and not violating relevant laws and regulations. This will be a prerequisite for the platform and users to continue to run in in the future.

  Under the official affirmation, it is an inevitable trend for video website members to gradually move towards fine grading, and the advanced on-demand model or the "VVIP" model like Star Diamond members will become more and more common. But compared with before, the platform will pay more attention to user experience when implementing the new model. Whether it is the platform or the user, it has come to a moment when it has to change.

  Platforms face the challenge of upgrading paid content, and users should also try to give platforms more understanding. The running-in situation between the two sides determines the future of the film and television industry.

Junyi Digital: The net repayment of financing for three consecutive days totaled 7.3009 million yuan (03

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