Titanium Media App reported on November 16 that at the 2024 Guangzhou Auto Show, the electric off-road brand Warrior of Dongfeng released the Warrior 917 Highland Lion model with a price of 699,000 yuan. The new car positioning is for heavy off-road enthusiasts, and it is the first original nitrogen-reduced luxury electric off-road vehicle in China. In terms of power, it will be pure electric and extended range versions.
Directly hit the Guangzhou Auto Show!
From November 20 to 29, 2020, the 18th Guangzhou International Automobile Exhibition was grandly held at the China Import and Export Fair Complex. With the theme of "New Technology, New Life", this exhibition provides a high-quality exhibition experience platform for the automotive industry and shows the world the new life of the new generation of smart cars. So what are the highlights of this auto show? Find out with reporters!
BYD Qin Plus
Qin PLUS fuses the two most popular styles of minimalism and emotional design at the moment, and the dragon soul blooms to show the oriental aesthetics. On the basis of continuing the essence of BYD’s Dragon Face design language, Qin PLUS adopts the front face shape of the eight-sided dragon roaring, the "big mouth" form of the dragon roaring and the air intake grille, and the LED headlights use the "arrow feather" design elements to depict the deep dragon eyes. The 5mm sharp line at the rear of the car symbolizes the through-type taillights, just like the sharp claws of the dragon are engraved on the rear of the car, echoing the headlights.
Qin PLUS is equipped with Xiaoyun-plug-in special 1.5L high-efficiency engine. As one of the core components of DM-i super hybrid technology, this engine has a thermal efficiency of up to 43%, making it the highest mass-produced gasoline engine in the world. The fuel consumption of the new car is as low as 3.8L/100km, and the mileage exceeds 1,000 kilometers when fully charged.
In addition, the Qin PLUS, which uses super hybrid technology, has three characteristics: super power, super smoothness, and super tranquility during driving, and the driving texture completely surpasses that of traditional fuel cars, subverting the user’s driving experience of traditional cars.
GAC Toyota Lingshang
The new TNGA car Ling Shang made its debut at the Guangzhou Auto Show. The name of the car means "beyond, elegant", showing Ling Shang’s leapfrog status and elegant and noble high-end taste.
The Lingshang is powered by a mid-to-high-end sedan, powered by a TNGA 2.0L Dynamic Force engine and a Direct Shift CVT gearbox. The Lingshang wheelbase reaches 2750mm, creating a luxurious and comfortable driving space comparable to that of a mid-to-high-end sedan.
The exterior shape of the Lingshang car logo adopts similar GR Supra design elements, which are laid out on the hood to give a low lying posture; the eagle eye three-dimensional LED headlights are combined with a wide lower grille covered with piano paint strips, and the overall front face presents a three-dimensional and advanced sense.
Haval Big Dog 2.0T "Chinese Pastoral Dog" Edition
As a popular Internet celebrity model in the automotive industry, Haval Big Dog ushered in the 2.0T "Chinese Pastoral Dog" version at this auto show and officially opened the pre-sale. The pre-sale price is 161,900 yuan, and the limited sale is 1699 units. Deep insight into consumer demand, while meeting the dual demands of young people’s spirit and material, Haval Big Dog sold more than 10,000 units in 36 days. With the arrival of the 2.0T version, it will help Haval’s sales continue to rise while interpreting the true definition of trendy new travel companions.
Haval first love
Haval First Love officially announced the naming and color scheme of the model version, and started the pre-sale at the same time. The pre-sale price range is 8.9-11 5,000 yuan. Understanding the aesthetic trend of users in the new era and meeting the pain points of Generation Z’s car purchase needs, Haval First Love is built with a new design language based on the lemon platform. It not only makes people fall in love at first sight, but also fully meets users’ demanding requirements on vehicle space, comfort, performance, fuel consumption and configuration, and redefines the first car in life.
SAIC Motor R Automotive MARVEL R
In terms of intelligence, the new car has a triple perception system, which can realize 5G intelligent driving, R PILOT 3.0 automatic driving assistance and other functions, and is a pioneer for the era of intelligent travel. At the same time, MARVEL R also landed the concept of intelligent cockpit, with MR hybrid virtual reality intelligent assistance system, industry-first voice-activated smart driving, car-home interconnection, vehicle OTA and other experiences to refresh users’ travel life
In addition, MARVEL R also has outstanding three-power hard power, passing the 360 ° battery oblique column collision test, and its flame retardant battery is designed according to the highest safety level of US UL-2580 and ASIL D automotive electronics and electrical, and meets the highest waterproof level in the IP69K industry. Safe and reliable; 4.8s zero-hundred acceleration results also provide strong support for users to pursue stronger performance.
MG Pilot PHEV
In terms of design, the MG Pilot PHEV adopts the MG third-generation family design language, featuring design elements such as shark hunting front face, digital ignition grille, and Copenhagen blue exclusive to new energy, instantly capturing the hearts of young people.
In terms of performance, the new car comes with the world’s only super-fuel capacity, its 1.5T direct injection engine, matching the second-generation 10-speed EDU, and 75 kilometers of ultra-long pure electric battery life, achieving super strength, super smoothness, and super long standby.
In terms of intelligent technology, the MG Pilot PHEV has the strongest IEM intelligent energy management system in the same level. In the front, middle and rear stages of the entire driving, the electricity and oil consumption are fully optimized, and the fuel consumption for 100 kilometers is only 1.3L. It is equipped with the new Zebra Venus Zhixing system and supports 90-second continuous dialogue. In terms of safety, it adopts a complete active protection design and passive protection design, and also specially sets up a "thermal runaway" warning to protect passengers in an all-round way. The battery meets the US UL2580 safety standard and IP67 dust and waterproof rating, providing consumers with the strongest protection according to global standards.
Crack down on the crime of telecommunication network fraud and try our best to recover the property losses of the deceived people
CCTV News:Telecommunication network fraud is not a simple social security problem, but a complex social governance problem of network governance. On April 14, the State Council held a press conference on the progress of cracking down on telecommunication network fraud. The person in charge of relevant departments introduced that the rising trend of telecommunication network fraud in recent years has been effectively curbed. Since June last year, the number of cases filed has decreased year-on-year for nine consecutive months, and remarkable results have been achieved in cracking down on governance.
Telecommunication network fraud crimes seriously infringe on people’s vital interests and property safety. Some people are cheated out of everything, and some enterprises are deceived into stopping work and going bankrupt. The broad masses of people deeply hate this. People in some key areas are linked with each other, forming professional criminal groups, which seriously corrupts the social atmosphere; Some people are deluded, renting and selling bank cards, phone cards and payment accounts to fraud groups, becoming accomplices of fraudsters and seriously eroding the foundation of social integrity.
Stick to heavy punches, heavy hands and heavy sentences.
Du Hangwei, Vice Minister of the Ministry of Public Security, said that the Ministry of Public Security has organized public security organs all over the country to keep a high-pressure situation and carry out special actions such as "Yun Jian", "Great Wall", "Broken Card" and "5.10" in depth. In the past year, 394,000 cases of telecommunication network fraud were cracked and 634,000 suspects were arrested, up by 28.5% and 76.6% respectively. Together with the National Immigration Bureau, we organized a "cut-off" project, which destroyed 12,000 illegal exit gangs and arrested 51,000 suspected smugglers. Together with the Supreme People’s Law, the Supreme People’s Procuratorate, the Ministry of Industry and Information Technology, the People’s Bank of China and the three major operators, we continued to promote the "card-breaking" action, destroying 42,000 illegal and criminal gangs of "two cards", investigating 440,000 criminal suspects, punishing 200,000 people who broke their promises, and punishing 41,000 business outlets and institutions. The National Anti-Fraud Center directly pushed 40.67 million national early warning instructions, and all localities used public security big data to produce 41.7 million early warning clues, successfully avoiding 61.78 million people being deceived. Successfully intercepted 1.95 billion fraudulent phone calls, 2.14 billion short messages, blocked 2.106 million fraudulent domain names and websites, and urgently stopped paying 329.1 billion yuan of funds involved. Persuade 210,000 people involved in fraud from overseas education,The number of people who go abroad to commit crimes against our country has been greatly reduced. The Ministry of Industry and Information Technology organized three major operators to upgrade and launch "Card Breaking Action 2.0", and successively cleared 77.69 million high-risk calling cards and 19.31 million industry cards. Continue to promote the National Anti-Fraud Center APP, accept 14.66 million clues reported by the masses, and warn the masses 230 million times.
However, Du Hangwei also pointed out that the current year-on-year decline in the number of cases filed for nine months was achieved under the situation of continuous crackdown on high pressure. It should be said that these achievements are temporary and fragile. We should stick to heavy punches, heavy hands and heavy codes. Based on domestic and overseas. Build a strong early warning to discourage "firewall", create a "killer weapon" for technical countermeasures, and reinforce funds to intercept "flood levees". We should continue to strengthen the management of fraud-related personnel in accordance with the law, broaden employment channels, guide the broad masses to become rich through hard work, and resolutely eradicate the breeding ground for crime. Fully implement exit control measures. Strictly implement the disciplinary measures for financial communication of real-name registration system and untrustworthy personnel. Resolutely win the war against fraud.
Fraud groups keep up with social hotspots and precision fraud.
Liu Zhongyi, director of the Criminal Investigation Bureau of the Ministry of Public Security, said that from the practice of cracking down on governance, with the deepening of cracking down on governance, there have been some new changes and new features in telecommunication network fraud: a new type of cyber crime represented by telecommunication network fraud has become a mainstream crime, and under the background of COVID-19 epidemic, people’s production and life have accelerated to move online, further aggravating the high incidence of cases, and telecommunication network fraud has become a global problem of cracking down on governance. Fraud groups keep up with social hotspots and change fraud methods and "words" at any time, which is very confusing. Fraud groups tailor fraud scripts to different groups and implement accurate fraud based on illegally obtained accurate personal information. Among the 50 types of fraud found, five are mainly online rebate, false investment and wealth management, false online loan, impersonating customer service and impersonating public security law. Fraudulent groups use new technologies and formats such as blockchain, virtual currency, AI intelligence, GOIP, remote control, and screen sharing to constantly update and upgrade criminal tools, and the offensive and defensive confrontation with public security organs in communication networks and money laundering has intensified and escalated. Fraudulent groups are well-organized and have a clear division of labor, showing the characteristics of transnational organized crime such as multi-industry support, industrial distribution, group operation, refined division of labor and cross-border layout. At present, in Cambodia, the Philippines, the United Arab Emirates, Turkey, North Myanmar and other countries and regions, there are still a large number of criminal gangs committing fraud against our citizens.
It is difficult to further solve the investigation and evidence collection and identification of electric fraud cases.
Li Ruiyi, head of the Third Criminal Court of the Supreme People’s Court, said that last year, the national courts concluded more than 25,000 such cases in the first instance, and more than 61,000 defendants were sentenced. Courts in Sichuan, Jiangsu, Beijing, Henan and other places have concluded major cross-border telecommunication network fraud cases such as "10.18" and "10.30". In view of the outstanding problems in judicial practice, we will constantly improve and clarify the applicable standards of the law to meet the needs of the real struggle and further standardize and guide law enforcement and handling cases. While handling cases, we should actively participate in comprehensive management, carry out legal publicity, educate the masses to raise their anti-fraud awareness and promote the formation of a good social atmosphere through various forms such as live online trial, centralized public sentencing, "sending the law to campus" and "sending the law to the community".
In the next step, the people’s courts will study and formulate evidence norms that adapt to the characteristics and laws of telecommunication network fraud, and further solve the problems of difficult investigation and evidence collection and identification of such cases.
From case-handling supervision to case-like governance supervision
Cheng Lei, head of the Fourth Public Prosecutor’s Office of the Supreme People’s Procuratorate, said that in 2021, procuratorial organs across the country stepped up their efforts to crack down on telecommunication network fraud crimes according to law, and nearly 40,000 people were prosecuted in the whole year. Punish all kinds of cyber crimes of "blood transfusion and food supply" for fraud crimes according to law, and prosecuted 129,000 people for helping information cyber criminal activities in the whole year, up 8.5 times year-on-year. More than 43,000 people were prosecuted for concealing and concealing the proceeds of crime, which doubled year-on-year. Actively explore the establishment of a linkage mechanism between criminal prosecution and public interest litigation in the field of personal information protection, and handled more than 2,000 public interest litigation cases in this field throughout the year. In conjunction with the Ministry of Education, we will release typical cases of students involved in "two cards" crimes, organize and carry out "anti-fraud into campus" activities, and build a campus network security defense line. In the Supreme Prosecutor’s office, a column of "Anti-fraud is going on" will be set up to strengthen the interpretation of cases and enhance the public’s ability to recognize and prevent fraud.
In the next step, the procuratorial organs should pay more attention to their active performance of their duties, strengthen the reverse examination of cases, promote the governance of online complaints in coordination, and provide a "procuratorial plan" for social governance. It is necessary to pay more attention to data empowerment, strengthen big data thinking, promote the establishment of data interoperability and sharing, strengthen data integration analysis and judgment, realize the transformation from case-handling supervision to case-based governance supervision, and timely discover the "dead corners" and "blind spots" of network governance. Taking advantage of the opportunity of enterprise compliance reform in the whole country, combined with the outstanding problems of network black ash production management, urge the enterprises involved to strengthen compliance construction, especially data information compliance, and strengthen source governance.
Card breaking, cat flashing, screen punching, fraud cleaning tools
Sui Jing, director of the Network Security Administration of the Ministry of Industry and Information Technology, introduced that the Ministry of Industry and Information Technology set up a special class for anti-fraud work at the departmental, provincial and enterprise levels. Upgrade and launch the "Card Breaking Action 2.0", jointly issue a card breaking notice with the Ministry of Public Security, launch a nationwide mobile phone card "one-card universal search" service, organize centralized investigation and disposal of more than 97 million high-risk phone cards involved in fraud, clean up more than 57 million related Internet accounts, and conduct a network-based investigation of the national Internet of Things cards, and a large number of high-risk cards in stock have been completely cleared. Organize the construction of an anti-fraud platform in the information and communication industry, and continuously improve the technical prevention capability. In 2021, 45,000 fraudulent code numbers and 1.04 million domain names and websites were disposed of according to law, and 1.95 billion fraudulent telephone calls and 2.14 billion fraudulent text messages were intercepted. Deploy and promote the "Cat (Pool) Action", and jointly crack down on 2,219 "Cat Pool" dens with public security organs, arresting 7,204 criminal suspects, seizing 6,807 sets of equipment, and cleaning up fraudulent tools with heavy punches. The 12381 fraud-related early warning and dissuasion system of the Ministry of Industry and Information Technology was built, and the functions of "early warning of family numbers of the elderly" and "early warning of flashing letters" were upgraded simultaneously, greatly improving the early warning and dissuasion effect. Since it was launched in July last year, 73.8 million early warning messages and flash messages have been sent, and the effective rate of early warning and dissuasion has reached 60%.
She also revealed that the Ministry of Industry and Information Technology will strengthen the rectification of key businesses such as fraudulent port SMS and steadily promote fraudulent credit management. Build an early warning system for international entry and exit SMS to realize real-time active reminder of international incoming calls and SMS. Focus on solving the pain points of the masses, launch an "anti-fraud business card", realize the authoritative marking of the calling number, and effectively identify the authenticity of the number.
The pattern of "capital chain" governance and financial normalization and anti-fraud has basically taken shape
Wen Xinxiang, director of the Payment and Settlement Department of the People’s Bank of China, said that remarkable results have been achieved in guarding the people’s "money bags", and the pattern of normalized anti-fraud governance in the financial industry has basically taken shape. In 2021, the financial system’s ability to identify and intercept funds increased significantly, and a large number of people were successfully prevented from being deceived. The number of bank accounts of fraudulent units decreased by 92% per month, and the amount of fraud involved in individual bank accounts decreased by 21.7%.
Improve the management system of bank accounts and payment accounts, establish an account classification and classification management system, consolidate the real-name registration system of accounts, establish a system for monitoring, identifying and intercepting fraudulent transactions, and strengthen the supervision of payment institutions. The enterprise information networking verification system was built and operated, and the risk monitoring of enterprise accounts was strengthened. In 2021, 74.4 million pieces of information were verified. Comprehensively investigate and clean up abnormal accounts such as long-term immobile households and frequent spending households, and continuously improve the ability to monitor and intercept fraudulent funds. In 2021, the payment and settlement department of the People’s Bank of China, together with the anti-money laundering and foreign exchange administration departments, transferred 4.3 million suspicious accounts involving fraud, built 13,000 new monitoring models and rejected 130 million suspicious transactions involving fraud. Commercial banks provided the public security organs with 8872 clues about card dealers who opened accounts abnormally at bank outlets. Organize commercial banks and payment institutions to punish units and individuals that have 52,000 illegal trading accounts identified by public security organs, such as not opening new accounts for five years.
Wen Xinxiang also pointed out that at present, China has built a multi-level, wide-coverage and modern payment system, which strongly supports domestic and international dual-cycle and people’s livelihood services. With the strengthening of risk prevention and control, it is necessary to fully balance the relationship between safety and efficiency. We must adhere to both risk prevention and control and service optimization, resolutely tackle the problem of difficulty in opening accounts due to excessive prevention and control, issue guidance on optimizing bank account services for small and micro enterprises and individuals, and put forward 34 measures, such as simple account opening and use of stock accounts, to prevent risks while providing excellent services and continuously facilitate people’s fund transfer services. Avoid "one size fits all" prevention and control that excessively affects normal business.
Recover and return the funds and try to recover the property losses of the deceived people.
In terms of recovering and returning the cheated funds in telecommunication network fraud cases, Liu Zhongyi introduced that the public security organs have always regarded recovering and recovering losses as the top priority of anti-fraud work, and resolutely recovered and returned the cheated funds of telecommunication network fraud victims. Establish a quick payment stop and freeze mechanism. In 2021, a total of 329.1 billion yuan of money was defrauded by people who were paid urgently, and 1.5 million victims who were making money were prevented from being cheated. Establish a risk monitoring and interception mechanism for fraudulent bank accounts, guide all banking financial institutions, establish a big data risk control model, and intercept funds in real time for risky accounts involving telecom network fraud, with a total of 1.02 million fund accounts of 14.8 billion yuan intercepted. Return the defrauded funds in a timely manner according to law, and freeze the funds involved in the case with clear ownership and meeting the conditions for return, and return the deceived people in a timely manner according to law. In 2021, public security organs throughout the country recovered and returned 12 billion yuan of funds defrauded by the people.
Liu Zhongyi also admitted that with the rapid development of Internet finance, fraudsters have constantly changed the money laundering methods by using various methods, such as tripartite and quadripartite payment, platform running, digital currency, trade hedging, etc., and the transfer speed is fast and the concealment is strong, which brings great difficulties to the public security organs in recovering the stolen money. The legal basis for the return of funds needs to be further improved, and the return process needs to be further improved.
Li Ruiyi introduced that the people’s courts insisted on taking the people as the center, and tried their best to recover the property losses of the deceived people in parallel with the trial of the case. Together with the relevant departments, they thoroughly investigated and recovered the funds involved in the case according to law, prompting the defendant to actively return the stolen goods and compensate, and exploring the establishment of a timely return mechanism for the funds involved in fraud according to law to ensure that the funds involved were returned to the victims in priority, and those that were not fully returned were returned in proportion to minimize and make up for the property losses of the deceived people.
Wen Xinxiang introduced that the People’s Bank of China has built a platform for the investigation and control of telecommunication network fraud funds. In 2021, commercial banks and payment institutions inquired, stopped paying and frozen 150 million fraudulent funds according to the instructions of the public security department. Commercial banks pushed 2.428 million pieces of early warning information about fraudulent funds transactions to the public security organs to prevent a large number of people from transferring money to fraudulent accounts. Establish a fraud-related risk monitoring and interception mechanism with the National Anti-fraud Center, and organize commercial banks to monitor fraud-related collection accounts in real time and intercept them directly.
It is reported that in the next step, the Ministry of Public Security, the People’s Bank of China, China Banking and Insurance Regulatory Commission, the NPC Law Committee, the Supreme People’s Procuratorate and the Supreme People’s Law Department will improve laws and regulations, improve the risk monitoring mechanism, enhance the early warning interception capability, further increase the return of funds defrauded by telecommunication network fraud, and effectively protect the people’s "money bags."
Chopsticks brothers, now that one is worth over 100 million yuan and the other disappears, can they go back？
This is the highlight moment that Shawn can boast about all his life. At the Golden Eagle Festival Awards Gala in 2012, his partner Wang Terry sang a song that his father instantly made Chen Sicheng cry, which made Lin Yongjian cry red. However, few people know that this Wang Terry wrapped in pain and tears and the Divine Comedy actually made Shawn the biggest winner.
As this song quickly spread all over the network after its release, chopsticks brothers Shawn and Wang Terry, as singers, immediately became the biggest beneficiaries. When they were invited by major program groups to earn a lot of money, a catastrophe was quietly coming.
In the same year, a netizen suddenly broke out that the father who made the chopsticks brothers’ popularity soar was actually copying other people’s works. Later, some netizens released a thank you song written by a Japanese singer named Da Qiao in 2008.
Later, the controversy on the Internet grew louder and louder. In an interview, Wang Terry also hinted that this father’s song really borrowed from other singers’ works.
Once the news was sent out, Wang Terry became the object of criticism by many keyboard men, but what people can’t figure out is why only Wang Terry was scolded for the same song.
Later, netizens found the answer in the story behind Shen Ba’s father. After his father became angry, Chopsticks Brothers emphasized in an interview that the background of the Divine Comedy was Wang Terry’s loss of his cancer father, so that many netizens were full of pity for Wang Terry at that time. However, when they learned about the plagiarism scandal, they felt cheated, which made them even more angry.
Even if the news of Wang Terry’s father’s death is true, most people don’t buy it. On the other hand, Shawn, one of the chopsticks brothers, participated in the creation of this divine comedy, but he was always in charge of the MV part.
I know that Shawn was an art student at the Beijing Film Academy before cooperating with Wang Terry. Because he likes movies, he took courses about directors, but he usually lives only by contact advertising. But since he met Wang Terry, he has become a small director who can make his own movies. Although the box office is not as good as the first-line directors, some of them are even broadcast only on the Internet. However, with the popularity of several Divine Comedy songs by Chopsticks Brothers, Xiao Yang’s works have gradually become familiar to the outside world and even recognized by industry professionals.
Later, after a scandal broke out in Wang Terry and the Chopsticks brothers stopped releasing new works, Xiao Yang entered the film and television circle again. With his previous contacts and resources, he has taken several films of great directors in succession, which not only won the box office, but also won word of mouth, and was also angered by netizens for the actors who were delayed by singing.
I’m afraid Andy Lau’s most regretful man in my life is only Shawn. When filming this movie, Shawn was slapped 36 times by Andy Lau. Although the guilty Andy Lau apologized to Xiaoyang at the first time after the scene, Shawn’s disappointing face swelled up the next day, which further deepened Andy’s apology to Shawn.
In an interview on a red carpet, Andy Lau generously said that Shawn was his idol, but only Shawn knew what it would take to get Andy Lau’s approval.
However, with the success of Shawn, the attention of the outside world is not only on him personally, but also on his former good brother Wang Terry.
A song earns 580 thousand a day. Once chopsticks brothers, now one is worth more than 100 million yuan, and the other disappears. Can they go back? With a small apple popular all over the world, the brainwashing melody coupled with the magical dance makes this song as hot as Jiangnan style.
With this song, the Chopsticks Brothers have already won the prize and won the soft hand, and they have also entered the stage of the National Music Awards. At the hottest time, there were countless Shang Yan who took the initiative to find you. With the support of this song, the Chopsticks Brothers earned 580,000 yuan every day. They thought that they could bring more amazing works after this, but they didn’t expect the news that they parted ways.
For Xiao Yang, he has been a schoolmaster since he was a child, and he is good at all kinds of skills. At that time, with his superb painting skills, he was admitted to the director department of Beijing Film Academy, and after graduating from college, he shot many excellent works. Besides painting and filming, Xiao Yang still has an actor’s dream that has never been realized, so he has been satisfied with his achievements in music since the explosion of Little Apple, so he decided to go to the film and television circle again and no longer partner with Wang Terry.
Later, Shawn teamed up with Chen Sicheng and other leaders to shoot several super-high-reputation plays, and since then, he has become famous, and his pay has risen from the initial tens of thousands to hundreds of thousands or even millions.
Today, although his value is not as high as that of a top-notch star, he is already worth over 100 million yuan. On the other hand, his good partner, Wang Terry, seems to have no other thoughts except making music. After Shawn entered the film and television industry, he invested in several personal records, but almost none of them earned money back, so that he still owed a lot of money outside when he was over half a year old. Today, Wang Terry has rarely appeared in public. He was photographed by a reporter or supported Shawn’s new film. Two people who were originally at the same starting line did not expect that their status today was very different.
However, Wang Terry’s obsession with music is beyond the imagination of the outside world. Although there was no hope in her, she cultivated her daughter’s sensitivity to music when she was very young. After her daughter became an adult, Wang Terry sent him to the trainee camp, and when her daughter participated in the competition, Wang Terry also specially recorded a video to cheer her up.
Although he used to be a hot singer, but now things have changed, and now he is over 50 years old and has more energy to return to his family. Chopsticks brothers who once stood on the same runway now have their own lives. Xiao Yang and Wang Terry can’t go back, but the excellent works they left for the audience are always there.
Editor in charge:
China CITIC Construction Investment Co., Ltd.： The soda market is expected to remain active, and the overall situation will be easy to rise and difficult to fall.
The research report pointed out that the national real estate policy has been frequent recently, and soda ash, as one of the main varieties in the industrial chain of real estate completion, has attracted market attention. Recently, the continuous futures price of soda ash has increased significantly. Soda soda is one of the core varieties of real estate chain. In the past two years, the pattern of industry supply and demand has changed greatly, mainly reflected in the rapid concentration of industry production capacity to the first two enterprises and the rapid increase in the proportion of photovoltaic demand. The balance between supply and demand of the industry in the next three years is calculated. Generally speaking, it is considered that the comprehensive operating rate of the industry will remain above 85%, and the soda ash market is expected to remain active, and the overall situation will be easy to rise and difficult to fall. Industry head enterprises and related flexible targets still deserve long-term attention.
CITIC Jiantou | Soda: the core variety of real estate chain, there are still many opportunities under the new pattern.
Soda soda is one of the core varieties of real estate chain. In the past two years, the pattern of industry supply and demand has changed greatly, mainly reflected in the rapid concentration of industry production capacity to the first two enterprises and the rapid increase in the proportion of photovoltaic demand. We calculated the balance of supply and demand in the industry in the next three years. Generally speaking, we believe that the comprehensive operating rate of the industry will remain above 85%, and the soda market is expected to remain active, and the overall situation will be easy to rise and difficult to fall. Industry head enterprises and related flexible targets still deserve long-term attention.
Recently, the national real estate policy has been frequent, and soda ash, as one of the main varieties in the industrial chain of real estate completion, has attracted market attention. Recently, the continuous futures price of soda ash has increased significantly.
Although soda industry is a traditional industry, in fact, in the past two years, the supply and demand pattern of soda industry in China has changed greatly. On the occasion of the expected recovery of the real estate industry chain, this report mainly combs the supply and demand of the industry and the investment opportunities under this supply and demand background.
Supply side: Yuanxing and Jinshan lead the expansion of production, and the industry supply tends to be concentrated substantially.
In the past two years, the representative event of soda ash supply side is the concentrated expansion of production of head enterprises, in which 5 million tons of soda ash in Yuanxing Alashan Phase I began to be put into production gradually in 2023H2, and 2 million tons of soda ash was also put into production in Jinshan, Henan. The industry pattern has been greatly concentrated in the first two companies. In particular, Yuanxing Alashan is a natural alkali project, and its cost is obviously ahead of the industry average; Jinshan’s production capacity is combined alkali process, which also has a cost advantage compared with the ammonia-alkali process plant with the largest number of industries. Therefore, the industry cost curve has also changed greatly in the last two years.
Demand side: photovoltaic connecting rod demand support; Smooth end impact of flat glass link
Photovoltaic: the proportion of demand has increased significantly; Higher growth can be expected in 24 years. In the past two or three years, with the rapid expansion of the photovoltaic industry, the most significant change for soda ash is the significant increase in the daily melting amount of photovoltaic glass. As the vast majority of photovoltaic glass corresponding to the global installed capacity comes from China, in the medium and long term, the global installed capacity of photovoltaic glass is the most important factor (not the capacity of photovoltaic glass), as shown in the following figure. By 2024, the daily melting amount of photovoltaic glass has reached 100,000 tons/day, which is flat.
The daily melting amount of plate glass is close, which has become the most powerful support for the demand side of soda ash And in 2024, the global photovoltaic installed capacity is still expected to maintain a growth rate of around 25%, which will continue to push up the demand for soda ash.
Real estate: the completion of real estate fluctuates greatly, but the fluctuation of flat glass production is quite smooth, and because of the low base, even if the 24-year completion cycle is not good, it will not particularly impact the demand. The production of 1 ton of flat glass requires about 0.2 tons of soda ash, so the demand for soda ash at the real estate end is mainly reflected in the output of flat glass. However, the characteristics of flat glass that it is not easy to be cold-repaired, and once it is cold-repaired, it will be shut down for a long time determine that the starting load fluctuation of most production capacity in the industry is very small. As shown in the following figure, it can be seen that the fluctuation of the year-on-year growth rate of glass production in history is far less than that of the completed area of houses.
Even in 23 years, we also saw the reverse relationship between completion and flat glass output: the year-on-year growth rate of completion in 23 years reached +17%, but the year-on-year growth rate of flat glass was negative due to the high base in 22 years. In 24 years, the market generally expects the growth rate of real estate completion to turn negative, but we also have reason to believe that it is difficult for flat glass production to drop sharply under the 23-year base.
Balance between supply and demand: Below, we make a relatively simple calculation of the balance between supply and demand of soda ash-
(1) Capacity end: We assume that the large-scale production capacity under construction in soda ash industry, such as Yuanxing Alashan Phase II project, can be put into production as scheduled. And put in some small production capacity expectations (but irrelevant to the overall situation). Among them, there are two kinds of caliber: year-end capacity and annual capacity considering the release rhythm. If a certain production capacity reaches the end of June of that year, it will be counted as half of its total production capacity in the industry’s "annual production capacity considering releasing rhythm".
(2) Demand side: at the completion side, we assume that the decline in real estate completion in 2024 will bring about a decline in the output of flat glass of about 7%; On the photovoltaic side, we assume that the daily melting amount of photovoltaic glass will maintain a year-on-year growth rate of about 25% with the global photovoltaic installed capacity in 2024, but the growth rate will fall back to about 10% in 25 and 26 years. As can be seen in the following table, according to the above assumptions, even under the more pessimistic assumptions about the completion and flat glass (for example, assuming that the output of flat glass will decline by 12% in 2024), the demand for soda ash will continue to increase year-on-year in 24 years.
(3) In terms of inventory and import and export, it is assumed that the level of stability in normal years is basically maintained, which makes our attention focus on the long-term changes in the supply and demand pattern of the industry.
Based on the above assumptions, as shown in the following table, it is not difficult to find that if measured by the average operating rate of the industry, 2022 and 2023 will be the years with the tightest supply and demand in the industry, and the average operating rate of the industry is around 90%.In 2024, the expected growth rate of industry supply is greater than demand, and the industry pattern tends to be loose.
But even if the supply and demand of the industry tends to be loose, we think this does not mean that the soda industry is not worthy of attention. On the contrary, based on the following reasons, we believe that soda ash is still a high-quality plate worthy of continuous tracking in the next 2-3 years.
1. Head enterprisesThere is still a solid bottom profit, a low valuation level and a significantly improved dividend rate.
At present, the head enterprises in soda ash industry are not only producing 1.8 million tons of Zhongyuan Chemical and 5 million tons of Alashan soda ash, but also the total production capacity ranks first in the country. More importantly, as the only natural alkali manufacturer in the industry, the company has a high cost advantage in the industry. Under the background that the price of soda ash in 24Q1 has dropped obviously and the industry profit has deteriorated, there is still a profit level of 568 million yuan in a single quarter and 2.272 billion yuan annually. In the future, with the climbing of Alashan Phase I production capacity and the construction and commissioning of Alashan Phase II, there is still much room for improvement in production capacity, and the average cost per ton is expected to be further diluted.
On the other hand, it should be noted that the company greatly increased the dividend level in 2023, with the cash dividend amount reaching 1.119 billion yuan and the dividend rate (calculated by deducting non-net profit) of 46%. After the capital expenditure of Alashan Phase I and Phase II ends, the annual deduction of non-net profit and dividend rate may be further increased, and the feedback from potential shareholders is considerable.
2. It should be noted that the industry operating rate is still expected to be above 85% in 24 or 25 years, and the absolute level is still relatively high:
Our judgment on the supply and demand of the industry is based on the static analysis at the current time. However, unexpected supply and demand disturbances are likely to occur in actual economic operation. From the historical experience, when the comprehensive operating rate of the industry is above 85%, it actually has the basis for a substantial price increase with the cooperation of supply and demand. For soda ash, if there is an unexpected favorable supply and demand in 24 or 25 years (the real estate policy is more than expected, or the global photovoltaic demand is more than expected), there may be a sharp price increase in the short term.
Historically, according toIn 2018 and 2020, the comprehensive average operating rate of soda ash industry was around 83%, slightly lower than 85%, but there was a dramatic surge in the corresponding years.
3. The increasingly concentrated industry pattern will make soda ash easy to rise and difficult to fall, and the price may not really be close to the industry cost line for a long time:
When a subdivided commodity industry tends to be oversupplied, a simplified way of thinking is "marginal cost pricing", that is, the price is likely to fall to or even fall below the full cost of the industry’s marginal capacity. This rule has been verified in most chemical products in history. But on the other hand, it should be noted that when the industry supply is increasingly concentrated in the head enterprises, commodity prices often deviate from the above laws. Specifically, it is gradually showing the characteristics of "easy to rise and difficult to fall" and "natural bulls". The logic behind it is that the price leadership of the industry leader and the bargaining power relative to the downstream have been greatly improved.
In fact, in 2023, we have already seen such a situation. With the commissioning of the Alashan Phase I project in Yuanxing, the leading position was established, and the price of soda ash was obviously easy to rise and difficult to fall:
We believe that in 2024, although the supply and demand of the industry will continue to become loose conservatively, the price of soda ash is probably not "honestly lying on the marginal cost line". For the leading enterprises in the industry, it is also likely to form a more favorable situation than "completely competitive market and marginal cost pricing".
4, soda standard often has a high stock price elasticity:
Our discussion mainly focuses on the fundamental level. However, from the performance of stock price, due to the deep binding between soda ash and real estate demand in history, and the active trading of corresponding futures varieties, the stock price elasticity of soda ash is often in the forefront in the chemical industry when the real estate is highly concerned.
1. Risk of deterioration of supply and demand in the industry: The biggest risk of the industry is to calculate from the balance of supply and demand. In the next two years, the industry may continue to experience the situation that supply and demand tend to be loose. Of course, this does not mean that the head enterprises in the industry will have serious performance pressure.
2. Downside risk of real estate: At present, the real estate policy is making efforts nationwide, but if the real estate industry is not repaired as expected, especially if the completion end is significantly less than expected, it may have a greater impact on it.
3. Risk of coal price fluctuation: regardless of ammonia alkali, combined alkali and natural alkali, coal price constitutes a considerable part of production cost. Therefore, if the coal price is greatly increased, it may greatly affect the production cost of soda enterprises.
Changzhi Willanda is on sale, the latest offer is 138,800! Preferential treatment waits for no man.
The latest news is that preferential promotion activities are being carried out, and consumers in Changzhi area are blessed! Wilanda’s maximum discount amount reached 35,000 yuan, and the minimum starting price also dropped to 138,800 yuan. If you are interested in buying this model, you may wish to click "Check the car price" in the quotation form and strive for a higher discount!
Willanda’s exterior design is full of sense of movement and strength, and the front face adopts family-style design language, showing the combination of exquisiteness and fashion. The air intake grille adopts a unique shape, which enhances the visual impact of the vehicle and also improves the aerodynamic performance of the vehicle. On the whole, Willanda’s appearance lines are smooth and the proportion of the car body is coordinated, showing a modern and dynamic style.
Willanda has a length, width and height of 4665*1855*1680mm and a wheelbase of 2690mm, creating a spacious interior space. The body lines are smooth, showing a dynamic and fashionable style. The front and rear wheel tracks are 1605mm and 1620mm respectively, ensuring stable handling. Equipped with 225/60 R18 tires and fashionable rim design, it further enhances the sense of movement and visual impact of the whole vehicle.
Wilanda’s interior design is simple and practical. The center console adopts a 10.25-inch central control screen, which supports multiple functional operations and improves the driving experience. The steering wheel is made of plastic material, which provides manual up-and-down and forward-and-backward adjustment functions to meet the needs of different drivers. The seat is made of fabric. The main seat has the functions of front and back adjustment, backrest adjustment and height adjustment, while the auxiliary seat has the functions of front and back adjustment. The second row of seats also supports backrest adjustment, and the rear seats can be laid down in proportion, providing passengers with more flexible spatial layout. The car is also equipped with a USB interface, which is convenient for passengers to charge electronic equipment.
Willanda is equipped with a 2.0L naturally aspirated engine with a maximum power of 171 HP and a maximum torque of 206 Nm. In terms of transmission system, it is matched with CVT continuously variable transmission with 10 simulated gears, which brings drivers a smooth shifting experience.
The owner of car home spoke highly of the appearance of Willanda. He mentioned: "The appearance looks very heavy and powerful, giving me a sense of stability and atmosphere. The hollow matrix design of the front air intake grille is eye-catching, and the waistline is very smooth and sporty, which is very suitable for my aesthetic concept." This design is really eye-catching and highlights the unique charm of Wilanda.
Can palm oil rally continue？ With the help of export rebound and rising oil prices, key market data will be announced soon!
Huitong Finance APP News-On Monday (November 4), Malaysian palm oil futures closed up, mainly boosted by the trend of competitive vegetable oil market. The benchmark January palm oil contract (FCPOc3) rose by 23 ringgit, or 0.47%, to close at 4,891 ringgit (US$ 1,119.22 per ton). This increase is not large in today’s trading, but it is quite stable under the background of the current cautious mood in the market.
2024 年 12 月