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The frequent occurrence of extreme words ＂Putin assassination theory＂ highlights the hostility between the United States and Russia

　　


　　　　　　Profile photo: On October 18, in Moscow, the Russian capital, Russian President Vladimir Putin listened to questions from the public during the program. Xinhua news agency


　　　　Just as Russia celebrated Putin’s choice of successor, the American think tank published a report containing "Putin may be assassinated in 2008", which caused strong repercussions in Russia. American experts rushed to clarify and criticized the Russian media for "exaggerating Putin’s assassination" as "irresponsible". Since the beginning of this year, the tension between the United States and Russia has escalated rapidly. Putin has repeatedly publicly criticized the United States, and the American media has also selected extreme words such as "greed" and "dictator" to be blamed on Putin. The British "Economist" said that "the hostility between Russia and the United States is reaching an unprecedented level after the end of the Cold War, and the anti-American propaganda at the end of the Soviet Union is not as emotional and real as it is today." On 15th, Russian senior generals’ remarks that "missiles may automatically strike back at American missiles" were interpreted by experts as "a nuclear war will happen at any time" between the United States and Russia. With the presidential elections in both countries next year, the hostility between the two sides is likely to escalate further.


　　"Putin’s assassination" triggered a fierce confrontation


　　　　On December 13th, Russia’s Kommersant reported the report "Russia’s Future Options" just published by the Center for Strategic and International Studies, an American think tank, with the title "Russia and the world will be shocked by Putin’s assassination". In the report, Kaczynski, a famous American expert on Russia, predicted that Putin might be assassinated after attending the Orthodox Christmas ceremony on January 7 next year, and Russia would fall into chaos. As Pu Jing has just chosen a successor and was invited to be the next prime minister of the government, Russians are full of longing for the future. This somewhat "killing scenery" prediction was quickly concerned by the Russian News Agency, Morning Post and other media.


　　　　A day later, Kaczynski publicly criticized Kommersant for distorting the original intention of the report, saying that Kommersant’s report that he predicted that Putin would be assassinated was ridiculous. Kaczynski said that in his report, he described three possible plans for Russia’s development: the first plan is also the most likely, that is, Russia will achieve steady development; The second scheme calls attention to the danger that a country’s political life depends too much on one person, and the assumption of Putin’s assassination is based on this; The third scheme predicts how the situation in Russia will develop once the oil price drops. He said that Kommersant was irresponsible because it published one of the hypothetical schemes. Kaczynski told the Russian News Agency: "I have been studying Russia all my life and have been to Russia many times. I also have many friends in Russia. And this article puts me in danger of losing my reputation. Some Russian politicians will think that this is an embarrassment to Russia, the Russian people and the Russian president. "


　　　　In this regard, the editor-in-chief of Kommersant retorted: "His statement is despicable and absurd. I read the Russian and English versions of this article, and we don’t admit that it is a conscious distortion of the basic views of the report. " "Kommersant" said in Kaczynski’s rebuttal news on the 14th that the report never made it clear that these assumptions were only theoretical.


　　　　On the 16th, on YouTube, the most famous video website in America, various comments were full of gunpowder. Some people say that "of course, those animals like to see Putin die", while others say that "Kommersant reporters are still exhibiting their ubiquitous Soviet-style propaganda". A netizen named "WIN096" said, "In Russia, Kommersant has a reputation as a pro-Western newspaper, so don’t underestimate this report. Putin has put Russia back on its feet. Obviously, Americans don’t like this. They can’t wait for a Russia without Putin. Assassination? Has the CIA ever assassinated foreign leaders? Of course, they have. They have done it many times before. It is not surprising that the assassination of Putin becomes a fact. "


　　"Missile automatic counterattack" becomes "nuclear war"


　　　　On the 16th, Professor Koskov from the Department of Russian and International Politics of Moscow University said that the incident profoundly showed that there was always misunderstanding in the communication channel between Russia and the United States, and there was always subconscious prejudice between the two sides, so they often could not interpret each other with a correct attitude. Koskov believes that the reason why the Russian media is so sensitive is because Russia itself lacks a sense of security, completely distrusts the United States, and the hostility between the two sides has increased.


　　　　In June 2001, after the first summit of Bush Putin, Bush said that Putin was "very frank and trustworthy", but since then, the two sides have increasingly criticized and questioned each other. At the Munich security conference earlier this year, Putin publicly criticized the unilateralism of the United States, and the western media said that "Russian leaders threatened to target Europe with nuclear bombs for the first time after the Cold War." Last month, Putin denounced the domestic opposition as a "running dog of the West", which shocked the West even more. The British "Economist" article entitled "Longing for the Cold War" on the 14th said that Russia’s hostility towards the United States is reaching an unprecedented level after the end of the Cold War.


　　　　On 15th, Baluyevsky, Chief of General Staff of Russian Armed Forces, severely criticized the US plan to deploy an anti-missile system in Eastern Europe. He said that the anti-missile missile launched by the United States may be mistaken by the Russian defense system as an intercontinental ballistic missile aimed at Russia, and thus it will be hit back, because the missile early warning systems of the United States and Russia are now automatic. The Russian "Viewpoint" borrowed the analysis of experts and believed that "the prospect of nuclear war between Russia and the United States is becoming more and more obvious." According to reports, the United States is provoking Iran or other Islamic countries to launch a nuclear attack on it. When a missile aimed at the United States is launched, its anti-missile system in Eastern Europe will play a role. When anti-missile missiles fly over Russia, they will be regarded as attack missiles, which will trigger Russia’s missile automatic early warning system to launch missiles at the United States, and the United States, which has advanced anti-missile systems and formal excuses, will begin to carry out nuclear strikes, resulting in both losses. The article also emphasizes that "this is not a plot in the novel, but a realistic military threat, which may happen at any time".


　　　　In recent years, Russian polling agencies have conducted surveys on "Who is Russia’s enemy" more than once, among which the United States often occupies the top spot. Kommersant analyzed: "When the United States criticized and suppressed Russia most severely, it was also the time when the Russian people’s anti-American sentiment was at its peak." Ella, the American coordinator of the NATO-Russia Council, said, "Since 2003, the Russian government has always portrayed the West as Russia’s sworn enemy and cultivated a feeling against the West." Russia’s subsequent oil power exacerbated the current anti-western sentiment.


　　The United States openly discusses whether Russia is an enemy. 　


　　　　An article in American Conservatives magazine in March this year said that after the "9.11" incident and the Iraq war, some people thought that America’s hostility towards Russia and its anti-Russian global geopolitical agenda would basically disappear. But this is not the case. On the contrary, the hostility of the Bush administration, the two parties in Congress and the American media towards Russia has only increased. The report believes that part of the reason is the Cold War. The Soviet Union was once the number one enemy of the United States, and too many Westerners did not distinguish between the Soviet Union and Russia. Also due to the influence of the cold war, lobbying groups from Poland and other places have hatred for their country’s submission to the Soviet Union. Many elites in Washington are also particularly hostile to Russia, "because long before the Iraq war broke out, Russia betrayed the idea of freedom and democracy cherished by the United States to set an example for other countries."


　　　　In the United States, there are more and more occasions to link "Russia" with "the enemy". The Middle East Times said that an editorial in the Wall Street Journal in November publicly suggested that "it’s time to start thinking again that Russia is an enemy". In October this year, six Russian experts took part in a discussion in new york, the theme of which was "Is Russia becoming our enemy again?" According to the pre-meeting survey, 41% of the audience thought yes, while 23% thought no.


　　　　Recently, due to dissatisfaction with the Russian Duma election and Putin, the US criticism of Russia has greatly escalated. Although American officials are cautious, the media does not hesitate to use extreme words. The New York Times published an editorial before the election of the Russian State Duma, attacking Putin’s "greed for power", saying that the election was neither free nor fair. George, a senior researcher at the American Council on Foreign Relations, said that "we have finally seen through his soul", and Washington post also said that "Russia is stepping on the threshold of restoring a one-party dictatorship similar to that of the Soviet Union". The hostility between the two sides is obviously not easy to disappear. The Christian Science Monitor reported on the 14th that although the world began to get used to the new name Medvedev, it should be realized that Putin, the familiar person behind him, will continue to face the challenge of confident Russia. (Special correspondent in the United States and Russia Guan Kejiang Zheng Runyu Special correspondent Liu Zhi Wang Beizhe)


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Editor: Li Xiuwei

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.

Li Chen proposed to Fan Bingbing successfully, Zhang Xinyu satirized ＂another round＂

Recently, Fan Bingbing and Li Chen’s love affair has been hyped up. Some netizens posted photos of Fan Bingbing and Li Chen going home, saying that the two appeared at Laishan Airport together, suspected of seeing their parents. At noon on January 8, a photo of three people of Fan Bingbing Li Chen and Li Chen’s grandmother was exposed online. According to the user, the photo was seen at Moments, and an entertainment planner revealed that Fan Bingbing was determined to get married in June.

But whether the relationship between the two is true or not, most netizens treat it with a lively attitude. Many people think that the two are hyping their works. Li Chen’s ex-girlfriend Zhang Xinyu also deleted Weibo in seconds. "It’s another round, and it’s started again. Hold it, the reality of this circle is that as long as you succeed, everything is right, irony." Some netizens also said: "Fan Bingbing and Li Chen are definitely not real, Fan Bingbing’s boyfriend is Li Zhiting!"

The relationship between Li Chen and Li Xiaolu should be the most well-known among netizens. According to people in the circle, Li Chen and Li Xiaolu met and fell in love when they were playing "Thirteen Grid", and Li Chen, who was in love, once stabbed the word "Lu" on his thigh for Li Xiaolu. It is rumored that Li Xiaolu was Li Chen’s first love. Now the two have broken up for many years, and Li Xiaolu has married and had a daughter.

In July 2012, Li Chen and Zhang Xinyu were rumored to have an affair, and the two went to a bar, and then they were exposed and returned to their residence together. A month later (August 23), when Zhang Xinyu posted the stone heart that Li Chen gave her on Weibo, the same stone was pulled out by netizens. Li Chen not only gave his ex-girlfriend, but also his mother. On September 10, Zhang Xinyu issued a statement admitting that she had broken up with Li Chen, but Li Chen did not respond to the breakup. It took only 20 days for the two to break up, which can be described as a flash of love.

Zhang Xinyu once posted a heart-shaped stone that Li Chen gave herself on Weibo, implying that love is indestructible. I don’t want Li Chen’s ex-girlfriend Dilinal to post the same heart-shaped stone and tease "Did you wholesale a bunch?"

The scandal also happened during the "Beijing Love Story" period, when Li Chen, who was in love with a foreign girl, suddenly changed his direction and abandoned the foreign girl and got electrocuted with Zhang Xinyi. Some media once caught Zhang Xinyi and Li Chen wearing a couple’s T-shirt to the coffee shop late at night. The two had a good understanding between their actions and actions, and they also interacted frequently on Weibo. The relationship was very good. When "Northern Love" was broadcast, Li Chen’s parents thought it would be great if the relationship between the two was real. However, the two firmly denied it in front of the media.

Huang Haibo’s ex-girlfriend Mo Xiaoqi and Li Chen are not only good friends, but they have grown up together since childhood, so it goes without saying that they have a good relationship. Mo Xiaoqi said that the two have known each other very early, but it is difficult to call, Li Chen added: "Yes, it is a pity, I met her too early, it should be two years later."

It is said that Li Chen’s real first love was Niu Mengmeng in "Seventeen Years Old Don’t Cry", and Li Chen became the idol of thousands of girls because of his role in the drama’s Jianning. After Niu Mengmeng, Han Geng and Zhang Mo were rumored to have an affair.

Zhao Zhuona was the love of Li Chen’s life. Back then, the two of them were as beautiful as glue, and they were once known as "the most romantic and sweet couple in history", but at the juncture when they were about to achieve good things, they were abducted by Han Han, who "picked countless flowers and showed mercy everywhere".

Jia Yun, the boss of Guangdong Pickup King Film and Television, invested in the TV series "Troubled Duckweed" by Jia Yun, and it is said that Jia Yun is the first figure in the circle to support Fan Bingbing. In addition to investing in dramas and advertisements, he 500,000 to support Fan Bingbing for half a year every month. This is Fan Bingbing’s first gossip boyfriend after his debut. Although the time is not long, single has written an important note on Fan Bingbing’s acting path, whether it is his real boyfriend or not. He is still very important to Fan Bingbing.

Shao Xiaoshan, who became famous for Lu Yi’s "nude play" double incident, broke the news that Fan Bingbing had been with Lu Yi for a period of time, filming "Junior Bao Qingtian 2", and the two openly showed affection to each other, and were accused of making the fake play come true. But because of the birth date, they were not together. Although Fan Bingbing strongly denied it, it basically spread in the entertainment industry that he was Bingbing’s second gossip boyfriend. No matter whether it started or not, everyone tacitly agreed.

It is said that Hong Kong’s famous eldest brother, Fan Bingbing, and Hong Jinbao also have an ulterior love affair. They used to live together in Shanghai’s Sanquan Apartment and a high-end apartment in Beijing, and even when they were on the set, Fan Bingbing entered Hong Jinbao’s room after 1 am and left after 5 am. There are also rumors that even the soho modern city apartment where Fan Bingbing once lived is a property that Hong Jinbao spent more than 2 million yuan to buy for Fan Bingbing. There are even rumors that Fan Bingbing’s younger brother is the illegitimate child of Fan Bingbing and Hong Jinbao. Amazing!

Gossip is really gossip. It is said that the reputation of Huayi’s brother Wang Zhonglei Huayi’s brother Wang Zhongjun has not been very good in the circle. In fact, after Fan Bingbing signed Huayi, the real physical relationship with him was Wang Zhongjun’s brother Wang Zhonglei (Daren Jun Jun expressed doubts about this). However, as a boss, it is reasonable to say that something should not have happened with Fan Bingbing. Needless to say, everyone can imagine this relationship. In order to be "red", it can be said that he would give up his own body. But according to this, why did Fan Bingbing leave Huayi? There are many doubts.

Yang Shoucheng was also accused of being one of the big families who kept Fan Bingbing. Back then, Zhang Yu broke the news that when a young actress surnamed Fan was not famous, in order to win the opportunity to play, her mother first took the lead and found the director to "deal". After her mother got it done, she would dedicate her to it… With this routine, she made a lot of plays. "

The affair between Fan Bingbing and Wang Xuebing lasted from 2004 to 2006, which was the longest affair between Bingbing’s rumored boyfriend. It seems that Bingbing is really emotional, but he has never received a positive response from Wang Xuebing.

In July 2004, Zhang Weijian’s "Little Fish and Flowers Wuque" was filmed in Huairou. In the film, the two stars, Fan Bingbing and Zhang Weijian, had an affair because of the "passion scene" in bed. Zhang Weijian and Fan Bingbing had no distance because of their acting, which also laid the foundation for Fan Bingbing’s future success.

Fan Bingbing attended a fashion show in Shanghai on the evening of his 25th birthday and offered a kiss to Xia Yu, the best actor next to him, who also kissed the birthday girl.

No matter whether it is true or not, Fan Bingbing Li Zhiting is an intriguing couple. After the 26-year-old Li Zhiting and the 31-year-old Fan Bingbing collaborated on the movie "One Night Surprise", rumors spread, and it was revealed that they often flirted. This year, the two joined forces to shoot the new drama "Wu Zetian". The press conference was also a show of affection. Before Li Zhiting, he said that he would take Fan Bingbing to meet his mother when the time was ripe.

Talking about the cooperation between the two on the set now, Li Zhiting admitted that both of them are very honest, and they have good or bad performances, and Bingbing will tell him that there is a real spark between the two. And He Jiong once asked Fan Bingbing who would choose between Li Zhiting and Jiang Jinfu as his boyfriend? Fan Bingbing also said "Li Zhiting" without hesitation!

The new flagship of domestic telecom 4G, Huawei P7 is priced at 2250 yuan

　　(Zhongguancun Online Anhui Quotes) HuaweiAscend P7(Telecom version) is Huawei’s latest generation flagship, with a stunning design, both front and rear are third-generation Corning Gorilla Glass, which has both beauty and protective performance. At the same time, it is equipped with a HiSilicon Kirin 910T quad-core processor, with2GB RAM, 5-inch full high definition screen, running performance is also not to be underestimated, and the machine supports telecom 4G network to better serve your life. At present, the machine is quoted at the Anhui dealer "Lu’an Telecom Flagship Store" for 2488 yuan. When purchasing the machine, new users can enjoy a 30% discount on monthly phone bills, and add 1 yuan to double the monthly traffic. Enjoy Tianyi’s fast mobile network. Friends who like it may wish to find out.


The new flagship of domestic telecom 4G, Huawei P7 is priced at 2250 yuan
Picture shows HUAWEI P7


　　Huawei Ascend P7(Telecom version) uses a 5-inch full high definition in-cell screen, and the machine also uses Corning’s third-generation gorilla glass protective screen. The upper left corner of the back of Huawei Ascend P7 is a 1.3 million pixelsThe camera is equipped with an LED flash at the bottom, and the Huawei logo is located in the middle. The speaker is placed at the bottom left of the back in a vertical strip.


The new flagship of domestic telecom 4G, Huawei P7 is priced at 2250 yuan
Pictured, Huawei P7


　　Huawei Ascend P7 (Telecom Edition) uses a HiSilicon Kirin 910T processor, which uses four Cortex-A9 cores and integrates a Mali-450MP graphics processing unit. In terms of memory, the machine uses a combination of 2GB RAM + 16GB ROM. The overall performance is still worth looking forward to.














































































































































































Huawei Ascend P7 (Telecom TD-LTE Edition)
Exposure date 2014
Mobile phone type 4G mobile phone,3G mobile phone,Smartphone,Business phone, phablet phone
operator customization China Telecom
Touch screen type Capacitive screen, multi-touch
Home screen size 5 inches
Home screen material TFT material (Incell technology)
main screen resolution 1920X1080 pixels
screen pixel density 441ppi
Screen technology In-Cell full lamination technology
narrow border 3.27Mm
screen ratio 71.64%
network type Dual SIM, Dual Pass
4G network Telecom TD-LTE
3G network Telecom 3G(CDMA2000Telecommunications 2G (CDMA),China Unicom 3G(WCDMA, only for foreign roaming use), Unicom 2G/Mobile 2G (GSM, only secondary card support)
Support frequency band 2G: CDMA1X 800
3G: CDMA EVDO 800/1900
2G: GSM 900/1800MHz
WLAN function WIFI, IEEE 802.11 a/b/g/n
navigation GPS navigation, GLONASS navigation, compass
Connect and share OTG, WLAN hotspot, Bluetooth 4.0
Operating System Android OS 4.4
user interface Emotion UI 2.3
number of cores quad core
CPU model HiSilicon Kirin 910T
CPU frequency 1843MHz
GPU model Mali-450 MP4
RAM capacity 2GB
ROM capacity 16GB
Memory Card Capacity expansion is not supported
Battery type Non-removable battery
Battery capacity 2500mAh
camera built-in
Camera type Dual cameras (front and rear)
Rear camera pixels 13 million pixels
Front-facing camera pixels 8 million pixels
Sensor type CMOS
flash LED fill light
video shooting support
Styling design straight board
Body color Black, white, gold, pink.
Phone size 139.8X68.8×6.5mm
Phone weight 124G
operation type Virtual key
Sensor type Gravity Sensor, Light Sensor, Distance Sensor, Gyroscope
SIM card type Micro SIM/Nano SIM
Airframe interface 3.5Mm headphone jack, Micro USB v2.0 data port
Audio support Support MP3/WAV/OGG/MID/AMR and other formats
Video support Support MP4/3GP/M4A/RM/RMVB/WMV and other formats
image support Support JPEG/PNG/GIF/BMP and other formats
common functions Calculator, radio, e-book, alarm clock, calendar, recorder, scene mode, theme mode
Business function Airplane Mode
packing list Mobile phone (including built-in battery) x1
Headphones x1
Charger x1
USB cable x1
Brochure x1
Quick Guide x1
Safety Note x1
Warranty card x1
Warranty Policy National Joint Insurance, enjoy the three-guarantee service
Quality assurance time 1 year
Quality assurance Remarks 1 year for the host, 6 months for the battery, and 1 year for the charger.
Customer service phone 400-830-8300; 400-690-2116; 800-830-8300
Phone remarks 8:00-20:00
Details From the date of purchase (subject to the purchase invoice), if due to quality problems or failures, with the quality inspection certificate of the manufacturer’s maintenance center or special maintenance point, enjoy return within 7 days, exchange within 15 days, and enjoy free warranty and other three-guarantee services within the quality assurance period for more than 15 days! Note: Users who purchase mobile phone accessories products separately, please keep the outer packaging of the accessories and the original invoice in good condition. If the above vouchers cannot be provided, the normal accessories warranty or replacement will not be possible.Enter the official website > >

　　editorial reviewThe front-facing camera of Huawei Ascend P7 (Telecom Edition) supports ten-level beauty functions. It is worth mentioning that the machine also supports video beauty and panoramic selfies. These two functions are indeed not very common, but also enhance the functionality of the front-facing camera.


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　　(Zhongguancun Online Anhui Quotes) Huawei Ascend P7 (Telecom Edition) is Huawei’s latest generation flagship, with a stunning design, both front and rear are third-generation Corning Gorilla Glass, both beautiful and protective performance. At the same time, it is equipped with a HiSilicon Kirin 910T quad-core processor, with 2GB RAM, a 5-inch full high definition screen, and the running performance is also not to be underestimated. At the same time, the machine supports telecom 4G network…

Vacancy rates are rising, rents are falling, and the office market in many places continues to cool down

?? In 2001, Boao, a little-known fishing village, became famous overnight because of the Forum for Asia. Over the past 19 years, cars and horses have flowed, and politicians have gathered. As a high-end platform that leads the direction and trend of the world, Boao has witnessed countless miracles that have changed the course of Chinese and even world history.

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　　Charm Boao, Reiki Boao, in addition to miracles, there are more "flag traces". In November, China FAW Hongqi brand high-end new energy vehicle E-HS9 set off from the northern snow country, defeated the Gobi rapids all the way, and after a journey of 6,170 kilometers, it was listed during the Boao Forum of Chinese Entrepreneurs in 2020. On the platform of global attention in Boao, this landmark listing opened not only a door for Hongqi to the world, but also a solemn declaration to the world with confidence and strength: Chinese brands have entered a new era. The ardent expectation of "We must master the key core technologies in our own hands and promote the national automobile brand" is becoming a reality.

　　Hongqi E-HS9: A weapon for a new energy country

　　"China FAW, especially the Hongqi brand, will keep in mind the expectations of the general secretary, strengthen the sense of mission, seize the opportunity for the transformation of the automobile industry in a century, and strive to achieve a stronger, better and bigger national brand," Xu Liuping, chairperson of FAW, said at the listing site.

Xu Liuping, Chairperson of FAW

　　E-HS9, built by the Hongqi brand with global high-quality resources and forward-looking technology, has too many firsts and firsts. Positioned, this car is known as China’s first full-size luxury SUV, with a 5.2-meter length and a 3.1-meter wheelbase. Coupled with a majestic family-style front face, a grille design like a mountain waterfall, sharp headlights, and an overall shape of "Eagle Strikes the Long Sky", the Hongqi E-HS9 has achieved luxury, domineering, and high-end, without losing the image of a solemn and elegant weapon of the country.

　　The integrated intelligent interactive cockpit, as well as the seven-screen entertainment system (IVI3.0) composed of a three-sided integrated surround large screen, a central control screen, a rear seat screen, and a rear center armrest large screen, realizes the "thousands of people and thousands of faces" intelligent ecological service created by Hongqi for users, which is magnificent and luxurious, technologically avant-garde, and full of futuristic sense.

　　E-HS9 was born in Hongqi Electric Intelligent Connected Vehicle Platform (FME platform). The key indicators of this platform are at the leading level in China, and it has all the intellectual property rights of key core technologies. Relying on this platform, a series of new energy products can be developed. It supports battery packs with capacities of 84kWh and 99kWh. The NEDC range is greater than 500km, and the battery pack life is 10 years or 240,000 km. As the first product under this platform, Hongqi E-HS9 is equipped with two capacity battery packs: 84kWh and 99kWh, which can meet the driving range of the whole vehicle over 400km and 500km.

　　The pure electric chassis of the Hongqi E-HS9 is equipped with two high-performance electric drive systems independently developed by FAW, using an electric four-wheel drive structure with front and rear dual motors, with a maximum power of 405kW and a peak torque of 750N · m. Under this strong power drive, the acceleration time of the Hongqi E-HS9 vehicle from 0 to 100km/h is only 4.8 seconds.

　　Integrating the eight charms of "Wei, Yi, Zhong, Zhen, Zhi, Xiang, An, E", Hongqi E-HS9 redefines the relationship between people and vehicles in the new era, providing a wonderful "third living space" that integrates travel, rest and entertainment. While pushing the product power of Chinese brand new energy models to a new height, Hongqi E-HS9 has also broken through the ceiling of domestic model prices at 509,800 yuan – 729,800 yuan, directly competing with luxury brand medium and large SUVs.

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　　Soul-level technological breakthrough

　　With the determination and belief to realize the autonomy and controllability of key core technologies, China FAW has continuously made breakthroughs in technological breakthroughs and built a comprehensive independent technology layout. The Hongqi E-HS9 has achieved the world’s four first and five original safety technologies.

　　The four core technologies include: intelligent driving, high-intelligence dual-redundant chassis system, AR real-life navigation, and wireless charging system. Relying on the forward-looking attributes of FEEA2.0 electronic and electrical architecture, the high-speed autonomous driving system equipped with Hongqi E-HS9 can automatically change lanes according to traffic conditions within the speed range of 0-120km/h, and the response period is less than 10ms. In addition, it can also realize vehicle autonomous positioning, intelligent search for parking spaces, fully automatic parking and entry, and pick-up operations, becoming the first L3-level mass-produced model in China for autonomous driving. Hongqi E-HS9 is also equipped with the world’s first wireless charging technology for power batteries, providing users with wireless alignment image prompts, bringing a convenient parking and charging experience. With the vehicle air suspension, the wireless charging transmission distance is automatically adjusted, and the maximum charging efficiency is greater than 91%.

　　The five original safety technologies of the Hongqi brand include active safety, passive safety, high-voltage safety, functional safety and information security. Among them, in terms of active safety, the Hongqi E-HS9 whole vehicle adopts 26 intelligent sensing sensors and V2X communication modules, thus providing comprehensive active safety protection in multiple scenarios such as front/side collision warning, road deviation warning and active braking. In terms of passive safety, the high-strength steel of the Hongqi E-HS9 body accounts for more than 70%. It adopts a 9H safety cage body structure, an 8-airbag system is used in the whole vehicle, and a battery protection structure is added on the side of the body to protect the heart of the battery from being squeezed. In terms of high-voltage safety, a real-time insulation function monitoring and a multi-level insulation alarm mechanism are also established to ensure the safety of the high-voltage system. In terms of functional safety, the Hongqi E-HS9 has reached the safety level ASILD, and the failure probability of the control system has been reduced to the level of 10fit, which means that it can only fail once every 100 million hours of work.

　　With the development of the Internet, personal privacy information leakage has become a very serious problem. Hongqi has also done its homework in information security. Hongqi E-HS9 provides multiple protections such as cloud security, pipeline communication security, core controller security protection, and core data security protection to achieve full-path protection and ensure the security of car owner information.

　　New patterns, new actions

　　At the beginning of 2018, when the new brand strategy was released, Xu Liuping set the new energy direction of the Hongqi brand very clearly. Now, after the Hongqi HS5, Hongqi H5 and other models have built up their brand sales, it is time for new energy vehicles to start to show their strength. It is reported that with E-HS9 as an important representative, Hongqi plans to launch 18 new energy models in the next five years, accounting for more than 85% of all products. Sales will break through 600,000 in 2025 and reach 80-1 million in 2030.

　　Since May this year, in response to the increasingly complex international political and economic environment, our country has been accelerating the construction of a new development pattern with domestic circulation as the main body and domestic and international double circulation mutually promoting. The new situation calls for new actions. Facing the new challenges from the opening year of the "14th Five-Year Plan" and the new requirements put forward by the "new development pattern", it bears huge pressure to lead the transformation and upgrading of the automobile industry. How to deepen the reform in the great change of our country’s new energy automobile industry will test the wisdom of the industry.

　　"The Fifth Plenary Session of the 19th Central Committee pointed out the direction for a strong Chinese automobile industry, and drew a blueprint: to guide China’s automobile industry to develop in the direction of’high-quality development, high-quality consumption upgrading, high-tech self-reliance and self-reliance, national autonomous brands becoming stronger, better and bigger, and the automobile industry is a strong country ‘. Xu Liuping said that China FAW earnestly studied and fully implemented the important speech of the Supreme Leader’s General Secretary’s inspection of China FAW and the spirit of the Fifth Plenary Session of the 19th Central Committee, fully realized high-quality development, and made every effort to move towards a world-class enterprise.

　　The development of E-HS9 is not only the extension of the Hongqi brand at the product level and the development of new markets, but also a significant improvement in brand power.

Wang Guoqiang, Standing Committee Member and Deputy General Manager of China FAW Party Committee

　　"As a Hongqi brand, our Hongqi E-HS9, which has been transformed and upgraded under the conditions of the new four modernizations, has not only formed the high-end product matrix positioning of our Hongqi H9, but also become a new node of our Hongqi branding. Anchor our new market positioning, help and enhance the Hongqi brand," said Wang Guoqiang, member of the Standing Committee of the FAW Party Committee of China and deputy general manager.

　　The most significant thing is that while pulling Chinese brand new energy vehicles to a new height, it also provides a new path for the exploration of the global new energy vehicle industry. It is worth mentioning that after the Hongqi E-HS9 debuted on July 28 and opened blind orders, the market response was extremely hot. So far, the car has received 1,427 orders, including 650 orders from overseas.

　　Regarding the much-anticipated "Red Flag Speed", Xu Liuping said in an interview: "Red Flag Speed" is fundamentally the greatest respect and service to consumers, and the never-ending pursuit of technological innovation and product innovation. Simple words tell the true meaning of the rise. This will also be a useful reference for Chinese brand cars to build world-class cars.

　　The northern country looks south, and the industry is prosperous. The red flag brand, building a dream of Boao, and then setting up the tide, with a new "flag trace", lifting up a new dream of the country and the hope of the nation.

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Great Wall Gun brand released! 126,800 pickup trucks were pre-sold, and domestic pickup trucks moved towards high-end.

When it comes to high-end pickup trucks, many friends will think of models such as Raptor and Smooth Road. Nowadays, we also have our own domestic high-end pickup trucks. On August 18th, Great Wall Motor released the new brand of pickup truck-Great Wall Gun, and announced the pre-sale price of pickup truck for the Great Wall Gun: 126,800-159,800 yuan.

What is the market expectation of Great Wall Gun as a domestic high-end pickup brand? What are the highlights of its first model? With these questions, this issue of "Looking at a New Car with Wisdom" is explained by Xiao Zhi.

The brand and the first model of Great Wall Gun made their debut at this year’s Shanghai Auto Show. At this brand launch conference, the Great Wall Gun officially announced that it will become the first global pickup truck brand in China, and will lead the pickup truck in China to start the 3.0 multi-purpose ride era.

Great Wall Motor also interpreted the logo of the Great Wall Gun brand. The logo evolved from the letter "P", which represents the triple meanings of "power" strength, "PK" challenge and innovation, and "perfect" perfection and extreme life. At the press conference, Li Ruifeng, vice president of Great Wall Motor and general manager of the sales company, also released the "123 Strategy" of the Great Wall Cannon pickup truck, namely, to maintain the first domestic and export sales volume, to achieve an annual sales volume of 200,000 vehicles in 2020 and a cumulative sales volume of 3 million vehicles in 2025. Up to now, the cumulative sales volume of Great Wall pickup trucks has reached 1.6 million, that is, in the next six years, the average annual sales volume will exceed 230,000.

The Great Wall Gun series pickups are built on the platform P71, and the vehicle pickups unveiled at the press conference are hard-core and fashionable. The front face of the new car adopts a brand-new Logo, the front face adopts a trapezoidal large-mouth air intake grille, and the three banner chrome-plated decorative strips highlight the exquisiteness of the front face. With the thick front bumper, the front of the car is full of strength. The rear part of the car is round and full, and the taillight uses a rare LED light source at the same level, which has a high recognition after lighting, and the logo on the rear part is the logo of the Great Wall pickup truck.

In terms of body size, the specific length, width and height of the Great Wall Gun are 541019341886mm, the wheelbase is 3230mm, and the internal dimensions of the cargo compartment are 1520/1520/538 mm..

As for the interior, the center console of the Great Wall Cannon pickup truck adopts a symmetrical design, and the overall modeling style is similar to that of Haval H9. Its interior texture is remarkable. The interior color matching provides three kinds of matching: technical texture, brown imitation wood decorative board and brown and white leather material to meet the aesthetic needs of different consumers. A large number of leather covers are used in the central control and door panels.

The 9-inch large screen equipped with the Great Wall Gun and the new intelligent network connection system not only have high-precision speech recognition, entertainment control and other functions, but also can realize remote control of vehicles through mobile phone interconnection, such as remote starting of vehicles, air conditioning control, oil quantity detection and other functions. In terms of comfort configuration, the new car is equipped with 6-way main driving electric adjustable seat, seat electric heating, dual-temperature zone automatic air conditioning and other functional configurations; In terms of safety configuration, the car is equipped with the latest generation of Bosch 9.3 ESP, equipped with 360 look around, reversing images, parallel line assistance, 12 radar probes and other intelligent configurations. It is worth mentioning that the pickup truck for the Great Wall Gun is also equipped with L2-level automatic driving technology, which matches ACC adaptive cruise, lane keeping, intelligent forward looking, intelligent driving assistance and other functions.

In terms of power, the pickup truck of the Great Wall Gun is equipped with a 2.0T gasoline engine code-named GW4C20B, with a maximum power of 190 HP and a peak torque of 360 Nm, which supports the national six emission standards. The transmission system is matched with an 8-speed automatic manual transmission from ZF and equipped with a four-wheel drive system. In addition to the passenger version of the pre-sale price announced this time, Great Wall Gun will also provide commercial and off-road models in the future to meet different needs of consumers.

For a long time, the market share of pickup trucks in China is only 1.8% due to policy restrictions and consumer awareness. However, with the continuous maturity of China’s automobile consumption market, the regulations on pickup trucks have been gradually relaxed since 2016. In 2018, reflective strips and word spraying were cancelled; At the beginning of 2019, it was proposed to "steadily and orderly expand the scope of restrictions on pickup trucks entering the city". According to the data of the Association, the pickup truck market in China has grown by 10% in 2018, far exceeding the passenger car market, which shows that the pickup truck market still has great market potential. Moreover, the multi-function and versatility of pickup trucks is an incomparable advantage of any other vehicle. With the loosening of pickup truck welcoming policy in China in recent years, the spring of pickup truck market is coming.

Great Wall Motor, which started as a pickup truck, has won the domestic and export sales for 21 consecutive years, and has accumulated profound technical force and rich experience in building cars. Its Fengjun series pickup trucks have a market share of about 36% in the domestic market and have been the sales champion in the domestic pickup truck market for many years. In the first half of this year, the cumulative sales of Great Wall pickup trucks was about 80,000 units, up 16.8% year-on-year, and the pickup truck market remained the absolute number one. In terms of sub-models, Fengjun 5 and Fengjun 7 continued to win the first place in single-model sales, and Fengjun 7 continued to lead the sales of new products. While improving the inherent tool pickup truck market, Great Wall pickup truck has also opened the way for new products and brands to soar.

Xiao Zhi believes that pickup trucks no longer bear a single tool attribute, and the pickup trucks that can be used at home, off-road and pull goods will be the direction for its breakthrough and high-end development in the future. Take today’s protagonist, the Great Wall Cannon, for example. It has launched three models: off-road version, passenger version and commercial version to meet different needs of consumers. Xiao Zhi learned from the Ministry of Industry and Information Technology that the Great Wall Gun declared a total of 11 national six models, including 2 passenger pickups, 9 commercial pickups and all gasoline and diesel national six models.

The appearance of the Great Wall Gun really opened the era of pickup trucks in China. From the perspective of product strength, the interior of the Great Wall Cannon pickup truck has a passenger car-level comfort configuration, and the new car has reached the L2-level automatic driving level. Judging from the market performance, Great Wall pickup trucks are exported to Europe, Africa, the Middle East and Australia, and have achieved good sales and reputation. With the blessing of the general factors, Great Wall Gun has the confidence and capital to launch an impact on the goals of the top three pickup brands in the world. With the increasingly mature domestic market environment, Xiao Zhi is optimistic about the market prospect of the Great Wall Gun.