标签： 爱上海龙凤

Smart, green, prosperous, high quality … China’s consumer goods trade-in momentum is strong and the future is expected.

CCTV News:The reporter learned from the Ministry of Commerce that the Ministry of Commerce and other 14 departments announced the Action Plan for Promoting Trade-in of Consumer Goods on April 12. The plan makes specific arrangements for the replacement of household appliances, automobiles, homes and other consumer goods that are generally concerned by the society.

The plan proposes to give fixed subsidies to consumers who scrap high-emission passenger cars or qualified new energy passenger cars and buy energy-saving or new energy vehicles; Financial institutions can independently determine the down payment ratio of self-use car loans; Improve infrastructure such as charging (replacing) electricity, parking and intelligent transportation; Implement the reverse invoicing policy for used car transactions; Promote the door-to-door car collection service model.

The central government arranges funds such as the construction of modern commercial circulation system and county commercial system to support the construction of recycling system of renewable resources such as used household appliances; Encourage qualified places to subsidize consumers to buy green smart home appliances; Support home appliance enterprises to give preferential treatment to consumers who exchange old home appliances for energy-saving home appliances. Encourage all localities to support local upgrading and renovation of old houses, kitchens and bathrooms, and aging renovation of homes to promote smart home consumption.

Xu Dongsheng, vice chairman of China Household Electrical Appliances Association, said: "This plan is driven by improving the standards of technology, energy consumption and emission, encouraged by policies, driven by smooth circulation, and gradually established on the basis of fully respecting the wishes of consumers. ‘ It’s easier to get rid of the old and more willing to get a new one ’ An effective mechanism to improve the recycling system of used household appliances and encourage the replacement of smart, green and low-carbon consumer goods. "

Next year, we will strive to increase the recycling of scrapped cars by 50% compared with 2023.

The Action Plan for Promoting Trade-in of Consumer Goods (hereinafter referred to as the Action Plan) issued this time proposes to increase financial and monetary policy support and carry out trade-in of automobiles and household appliances and "rejuvenation" of home improvement and kitchen and bathroom throughout the country.

The "Action Plan" proposes that by increasing policy guidance and support, we will strive to accelerate the elimination of passenger cars with emission standards of National III and below by 2025, and the recycling volume of scrapped cars will increase by 50% compared with 2023; By 2027, the recycling volume of scrapped cars will double compared with 2023, and the trading volume of used cars will increase by 45% compared with 2023.

The "Action Plan" clearly puts forward that fiscal and financial policy support should be strengthened, and the central government and local governments should work together to arrange funds to support the scrapping and renewal of automobiles and encourage qualified places to support the replacement and renewal of automobiles. Highlight the standard traction in the automotive field, improve the recycling and dismantling system of scrapped cars, promote the safe and convenient trading of used cars, cultivate and expand the main business entities of used cars, and promote the innovative development of automobile circulation consumption.

In addition, the reporter learned from China Automobile Industry Association that by the end of 2023, the number of cars in China had reached 340 million, and the number of scrapped cars was 7.56 million. The scheme involves all aspects of automobile circulation and will play an important role in promoting the management of automobile life cycle. Smooth automobile circulation will better promote the consumption of new cars and promote the high-quality development in the field of automobile circulation.

The whole chain of waste household appliances recycling is expected to be further unblocked.

The "Action Plan for Promoting Trade-in of Consumer Goods" also proposes to study and introduce a fund policy related to the disposal of waste electrical and electronic products, and smooth the whole chain of waste household appliances recycling. Experts said that this will effectively promote the trade-in process of home appliances and promote the sustained prosperity and development of the home appliance market.

The Action Plan proposes to give play to the guiding role of fiscal and taxation policies. Encourage qualified places to make overall use of the funds related to the modern commercial and trade circulation system arranged by the central government, make full use of existing capital channels such as the construction of county-level commercial systems, transform and upgrade the household appliance recycling network, improve the efficiency of recycling, transit and distribution of used household appliances, and support the exchange of old appliances for new ones. We will study and introduce a fund policy related to the disposal of waste electrical and electronic products, and smooth the whole chain of recycling and disposal of waste household appliances. Strive to increase the recycling of used household appliances by 15% by 2025 compared with 2023; By 2027, the recycling of used household appliances will increase by 30% compared with 2023.

The reporter learned from China Materials Recycling Association that China is currently at the peak of household appliances scrapping, and the number of discarded household appliances is over 100 million every year. Upgrading and upgrading has become an inevitable trend in the household appliances market. The rapid upgrading of household appliances also brings the problem of recycling waste household appliances.

Xu Junxiang, president of China Materials Recycling Association, said that by strengthening the construction of recycling system, increasing recycling sites, optimizing recycling processes and improving recycling efficiency, it will not only provide residents with more convenient and safe recycling services for used household appliances, but also ensure that used household appliances are properly disposed of, and effectively promote the process of replacing old household appliances with new ones, and promote the sustained prosperity and development of the household appliance market.

Depth： Extreme Krypton’s rapid delisting, the United States’ request for delisting, or a step of Geely’s grand integration strategy？

(Original title: Depth: Rapid delisting, US delisting, or a step in Geely’s grand integration strategy? )

[Industry in car home] On May 7th, Geely announced that it planned to buy all the shares of Krypton, a subsidiary listed in the US stock market, and privatize it at a premium of 20% on the average price of the past 30 trading days. If the transaction is completed, Krypton will be completely delisted from the US stock market, and Krypton will be completely merged with Geely Automobile to become a wholly-owned subsidiary.

Hearing the news, the first reaction of the internal staff is: very sudden, very stupid.

In May, 2024, Krypton went public only three years after its establishment, becoming the fourth new force to go public in the United States after Wei Xiaoli. It was listed less than a year ago, and now it is announced to withdraw from the market immediately. The delisting speed is as fast as the listing. What happened? This paper tries to interpret it in depth.

Members of the United States named 25 China companies for delisting, including Krypton, but not Lotus.

In the context of Sino-US trade confrontation, in addition to tariffs, financial war is also one of the options at the negotiating table.

On May 2nd, Republican Congressman John Moolenaar, Chairman of the US-China Special Committee on Strategic Competition, and Rick Scott, Chairman of the Senate Committee on Aging, and others jointly wrote to the SEC, demanding that 25 China companies listed in the US suspend trading and withdraw from the market.

We read the original text of the letter. Among the 25 listed companies named by Members, there are three related companies in the smart car industry, including Krypton, Tucki and Xiaoma Zhixing.

Krypton is on the list of 25 listed companies that call for delisting.

The reasons for the withdrawal of Krypton from the market described by US Members are summarized as follows:

1. Polar Krypton has been integrated into China’s civil and military system by using the "Future Travel Constellation" satellite network developed and built by Geely, which supports real-time tracking, remote sensing and safe communication of smart cars.

2. Geely has equipped the Krypton car with direct satellite connection without ground network, connecting the daily electric car function with the space infrastructure controlled by China military for a long time.

3. Geely also provided more than 1,000 Borui cars to the China People’s Liberation Army, promoting that "military quality" is suitable for harsh environment, which proves that Krypton supports integration of defense and civilian technologies.

4. Krypton has a Communist Party organization in the company, and the intelligent workshop provides a training and publicity base for CPC ideological education, vocational training and school-enterprise integration;

5. Krypton partly owns Zhejiang Times Geely Power Battery Co., Ltd., which is jointly held by Contemporary Amperex Technology Co., Limited, and Contemporary Amperex Technology Co., Limited is included in the list of entities in the Xinjiang Uygur Forced Labor Prevention Act.

The screenshot of the original letter is as follows:

Original screenshot

As mentioned in the letter, these 25 companies pose great risks to the national security and capital market of the United States.

Geely’s other listed car companies, such as Lotus and Polar Star, are not on this list, and there is no news of simultaneous delisting recently. In 2017, Lotus acquired by Geely was listed and traded in the United States in February 2024 by merging with a special purpose acquisition company.

Geely’s official reply: integrate resources and return to a Geely.

Li Shufu, chairman of Geely Holding, said in this statement that in the face of fierce market competition and increasingly complex economic environment, Geely Holding will judge the situation and continue to promote the integration of automobile business in accordance with the spirit of Taizhou Declaration, return to a Geely, integrate technological advantages, and improve innovation and profitability.

Finally, don’t forget to mention: Geely Holding will still maintain close communication and cooperation with American and international capital markets.

This acquisition shows Li Shufu’s skillful capital market operation means.

First, the price of $25.66 for this acquisition of Geely is 20% higher than the average transaction price in the past 30 days and 22% higher than the listing price of $21. A better premium acquisition can avoid lawsuits from minority shareholders.

Second, Geely sent a "Non-binding Offer Letter" to Krypton, which means that the preliminary letter of intent given by the buyer to the acquired party is not legally binding and does not represent the final negotiation price. Only when Krypton agrees, the transaction can be carried out.

There is a guess that if the market speculates on Krypton’s share price for a short time and exceeds the purchase price of $25.66, Geely may give up the acquisition. Immediately after the announcement, on May 7, the Krypton closed up 11.5% to $25.19.

Third, Geely does not buy and sell at a loss. The invitation letter for repurchase does not specify how long it will be implemented, and it will be valid for a long time. Geely will not buy back at the high point of the stock price, or wait until the stock price falls.

Krypton’s share price has been lower than the issue price for a long time, and its listed market value and current market value are hovering around 6 billion US dollars, which is lower than the 13 billion valuation expected by investors in the A round of financing, and also significantly lower than that of Wei Xiaoli. Tucki has exceeded 18 billion, and ideally it has exceeded 27 billion. The valuation has shrunk dramatically, and the US stock market environment has further deteriorated in recent years. At present, China Stock Exchange is also facing the risk of delisting under the political game, which makes investors nervous, and the refinancing space is getting smaller and smaller, losing the significance of listing.

The risk of delisting of China Stock Exchange will return again, and there is no second listing in Hong Kong at present and will not be in the future.

"The delisting of China Stock Exchange" is not a new topic. As early as Trump’s first term in 2021, the US Securities Regulatory Commission introduced the delisting regulations for China companies under the Foreign Company Accountability Act, which triggered a large number of China Stock Exchange companies including Alibaba, Xpeng Motors and Weilai Automobile to go to Hong Kong for secondary listing, thus realizing the listing in the United States and Hong Kong to avoid the delisting risk.

However, although the listing in the United States and Hong Kong has been realized and the risk of delisting has been eliminated, the trading volume provided by the Hong Kong stock market is far less than that of the US market. For example, the average daily ADR trading volume of Alibaba and JD.COM in US stocks is about 80% higher than that of their Hong Kong stocks.

The trading volume provided by the Hong Kong stock market is much smaller than that of the US market.

With the escalation of geopolitical tensions between the United States and China, if all ADR stocks in China are delisted from the American stock exchange at the same time, the entire China stock market will be at risk of downward valuation.

From the perspective of capital market, compared with Tucki and Weilai Automobile, Krypton has not been listed in Hong Kong for the second time, and its investors are at risk of delisting. Even if we return to the Hong Kong stock market, not to mention that the valuation is greatly discounted compared with the US stock market, mainly because Geely Automobile itself is also listed on the Hong Kong stock market, and re-listing will form horizontal competition. If you can’t go public twice, then delisting is a better choice.

To reach the top in 2017, it is necessary to benchmark the Volkswagen Group and make a global layout.

In 2010, Geely bought Volvo Cars for US$ 1.8 billion (about RMB 10.8 billion). For Geely, whose revenue at that time was only RMB 20 billion, the market described it as "snake swallowing elephant".

Volvo cars have brought thoroughly remoulded changes to Geely, and Volvo has made Geely really understand what automobile product development is all about. Subsequently, CMA, the modular architecture of mid-level cars, was introduced, and based on this, the new brand "Lingke" was launched, and Geely began to gradually get rid of the image of low-priced and cheap cars.

In 2017, Geely won the first place in the sales of self-owned brand car companies in China.

In 2017, Geely won the first place in the sales of China’s own brand car companies.

2020 "blue operation failed" 2021 began a new version of "blue operation": the birth of krypton.

Before 2020, Li Shufu recognized that electrification was the future trend, but did not think that it would immediately have a subversive and destructive impact on the industry.

Until the arrival of the epidemic, the country put forward the goal of "peak carbon dioxide emissions, carbon neutral", and Tesla achieved its first profit after its establishment. BYD has been deeply involved in the battery industry for many years, and once it ushered in a big outbreak, Geely also acquired traditional car companies around the world. Li Shufu’s misjudgment made Geely completely backward.

In 2021, Geely began to deploy a new version of the "Blue Plan". On the one hand, it established a new brand of electric vehicles, on the other hand, it did not give up the internal combustion engine and continued to study new power vehicles such as hybrid and extended range.

Krypton was established under this background.

In March, 2021, Krypton set up its own sub-brand independently from the interior of Lectra, focusing on the development of more than 300,000 high-end pure electric vehicles.

In 2023, Lectra announced that it would no longer produce fuel vehicles, and comprehensively transform new energy vehicles such as pure electricity and extended range, focusing on 200,000-300,000 vehicles.

In February 2023, Geely launched the new energy brand "Yinhe", and in 2024, it incorporated the geometry series, focusing on the low-end new energy market below 200,000.

In 2024, it was proposed that brands were too scattered, and inter-brand collaboration should be achieved.

Compared with BYD, the brands of Geely Holding Group are too scattered, and there is no single brand or model strong enough to compete with BYD. In January 2024, Geely first proposed to achieve synergy among many brands.

However, Geely’s internal brands have different origins and complex equity, which is fundamentally different from BYD and more difficult to coordinate. Coupled with the rising political risks in overseas markets, it has brought difficulties in operation and management. After Volvo’s acquisition for more than ten years, there are still internal communication problems. Geely began to sell the shares of its invested companies and shrink its layout.

In September 2024, the Taizhou Declaration was issued. Li Shufu mentioned that the Group should shift from strategic expansion to strategic focus and integration, shut down and transfer some businesses, adhere to steady operation and stop blindly expanding.

Summary and outlook

From the perspective of capital market, the refinancing space of Krypton in the US stock market with deteriorating environment is shrinking, and because Geely Automobile has been listed in Hong Kong, it is impossible to go to Hong Kong for a second listing, so delisting is a better choice.

From the internal strategy of the Group, the current sales performance of Krypton has not reached the target set at the time of listing. In the first quarter, it achieved the annual target of 12.18%, and Linke has achieved 19%. In addition, the debt ratio of Krypton is extremely high. Although the loss has narrowed, there is still a loss of 5.79 billion. In the fierce market competition, Li Shufu may hope to return to Geely as soon as possible, integrate resources and improve synergy.

The above may be several reasons for this sudden acquisition for reference and discussion. (car home graphic Wu Peizhe)

fund

Drunk! ＂Fragments of the Dangerous Road to Treasure＂ Ge You Yun-peng Yue Market Racing.

1905 movie network news A comedy blockbuster starring Ge You, Yun-peng Yue and Du Chun, and co-starring Charlene Choi, Bao Beier, Xiao Shenyang, Michael Chen, Pan Binlong, Rayza, Sun Yue and Lu Xing will be released on December 29th. Recently, the film released a set of themed stills entitled "Good Brothers", revealing the character characteristics and personalities played by the three leading actors Ge You, Yun-peng Yue and Du Chun in the film, showing the deep friendship between the three brothers who won the "treasure" and suggesting that they are about to embark on a "surprise" adventure after getting drunk.


Yun-peng Yue tried his best to make a water play. Du Chun became the first producer to subvert the image.

The film "Lost Treasure in a Dangerous Way" tells the story that Uncle Ya (Ge You), a fisherman, A Le (Yun-peng Yue), and Daimeng (Du Chun) of the Aquarium mistakenly sell the star dolphin "Baby" of the Aquarium to foreign countries after a drunkenness. In order to find the baby dolphin, the three of them have to embark on a wonderful adventure.

For many years, Ge You has been playing all kinds of little people’s images on the big screen. This time, he returned to the stage of the New Year film after two years, and played an uncle selling fish in the film, with one move and one style. It is his approachable and life-oriented performances that have given these little characters vivid and vivid "excellent" comedy characteristics for many years, and they are well-deserved "the first person to celebrate the New Year". As the eldest brother of the "Fragment Trio", Uncle Ge is both the backbone and an unexpected reversal. Especially in a stills exposed this time, Ge You is riding a tricycle carrying fish and looks like he is running away. Yun-peng Yue and Du Chun try to stop him in a hurry, and the relationship is very subtle.

As a popular comedy hero on the big screen in recent years, Yun-peng Yue admits that he is absolutely glad you came in this film. Whether in or out of the play, Ge You benefited him a lot: "Uncle Ge’s seriousness about the role and his control over the characters let me know what a real old play bone is." This time, Yun-peng Yue plays a dolphin trainer, who has a lot of intimate scenes with dolphins in the water, but he is not very good at water. In order to present the best effect, we have to do our best to cooperate with our colleagues in Diaoweiya, and we have suffered a lot by repeatedly going out into the water.

Du Chun, who has just performed well in I am an Actor, has another identity besides being one of the three leading roles, that is, one of the producers and project sponsors of this film. Starting from the point of "fragment" after drinking, he came up with this story that is very suitable for the life of young people and particularly embarrassing. At first, he was very worried about whether Grandpa Ge could accept it. To his surprise, after receiving the script, Ge You quickly liked and accepted the project. In order to subvert the image of "tough guy" in the past, Du Chun started from the image, covered his tough facial edges with a curly hair, and endowed the character with the image characteristics of being a cute doormat.


The broken trio "grabbed the baby" brothers deeply turned over the film, and the fans said that they had new expectations at the end of the year.

Once released last week, the preview and poster of "Drunk Big Edition" aroused great expectations of the audience on all major platforms. "I didn’t expect to see the collocation of Uncle Ge and Little PINKRAY  in my lifetime." Some viewers also said that "I like this theme, and I feel that I have never seen Uncle Ge play such a role before. Coupled with PINKRAY ‘s signature expression and Du Chun’s high face value, this combination is amazing." At the same time, I also have a clear understanding of the comedy positioning of the film. "Comedy is a big coffee. … Comedy makes you laugh is a good film! " People are full of expectations for its performance in the 2019 Lunar New Year!

No matter in or out of the play, Ge You, Yun-peng Yue and Du Chun, the "broken trio", all showed super concentration and serious performance attitude, which is an excellent interpretation of brothers’ affection. It is reported that the three of them will encounter all kinds of strange things along the way, face many crises, and even face the human challenge of "brothers or banknotes". Exactly where the three will go, we have to find the answer from the movie.


The movie "Lost Treasure by Dangerous Road" will be turned over on December 29th, and will land in major theaters all over the country.


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Leslie Cheung’s precious image exposure ＂Zhao Gu＂ premiered, and Huang Xiaoming became a pervert


The collective appearance of the three major film emperors brought the whole premiere to its climax.


The appearance of Sun Honglei is really unexpected.


Sun Honglei and Chen Kaige embraced deeply.


Ge You


Wang Xueyin

　　Movie network news(Photo/Qian Jiayi Wen/Yang Yaru) The New Year blockbuster, which will be released on December 4, will be recorded in the "Premiere" section of the film channel on November 26. Director Chen Kaige and chief producer Chen Hong, together with starring Ge You, Wang Xueyin, Huang Xiaoming, ZhangFeng yi, Chiu Man-Cheuk, Christina, Peng Bo, Zhao Wenhao and Wang Han, also appeared to join in. Tao Jingying, the host, even claimed to be a fan of Chen Kaige. He pretended to be a flower addict and hugged Chen Kaige when he came up.

Leslie Cheung’s precious images expose Ge You and Wang Xueyin to praise Chen Kaige.

　　That night, it became a thank-you meeting, with three movie stars Ge You, Wang Xueyin and ZhangFeng yi Zizan directing Chen Kaige. Ge You said, "Chen Kaige is the director I respect, and I sincerely thank him for letting me play the role of Cheng Ying, and director Chen said the play accurately." ZhangFeng yi believes that Chen Kaige is a person who regards movies as his life. Wang Xueyin, who has cooperated with Chen Kaige since 1984, also expressed his gratitude to the director.


When the precious image of Leslie Cheung appeared on the big screen, the audience applauded and the scene was very touching.

　　Chen Kaige’s popularity in the circle is well known. Sun Honglei, who didn’t get the chance to perform in The Orphan of Zhao, was also present. Jiang Wenli, Zhou Xun, Li Xuejian and other actors also sent their blessings through the VCR.

　　That night, precious images of Leslie Cheung were also exposed. Leslie Cheung, who was still very young, recalled the first time he met Chen Kaige in Hong Kong, giving people a sense of time travel, and the scene was also filled with applause. Chen Kaige looked very sad. "I have always thanked Leslie Cheung, and I miss him very much!"

Huang Xiaoming turned into a pervert "indecent" Tao Jingying laughed at his poor acting skills.

　　"The first time I cooperated with Chen Kaige, I was very nervous, because I heard that Chen Kaige had to shoot 30 shots in one shot. When I thought about it, I couldn’t shoot 70 or 80 shots!" Huang Xiaoming laughed at his poor acting skills and expressed his admiration for Chen Kaige. "I remember there was a scene at that time, and I needed to kneel down for Ge You, but the director felt that I didn’t do well enough, so I knelt down in person, and I was so moved!"


Chiu Man-Cheuk taught Tao Jingying wolf prevention on the spot, and Huang Xiaoming became a "pervert"


Huang Xiaoming

　　In The Orphan of Zhao, Huang Xiaoming, a handsome man, volunteered to self-destruct his image and become a scar face. In this regard, Huang Xiaoming said faintly, "I hope everyone can see Huang Xiaoming who is trying to be a good actor!" At the scene, Huang Xiaoming, regardless of the image, played a pervert who molested Tao Zi. Under the guidance of Chiu Man-Cheuk, Tao Zi dealt a fatal blow to Huang Xiaoming.

Chen Kaige claimed that life was very frustrating and confessed to his wife Chen Hong on the spot.

　　"Although my heart is still young, I am old, with less hair and a big belly. I don’t know where the handsome boy Chen Kaige was. When I look back, I have made very few movies, and I didn’t shoot very well. In fact, I am quite frustrated in my life. I know that I am not as good as they say! " Chen Kaige was very emotional that night and expressed his feelings several times. "Because I know it in my heart, I am anxious."


Chen Kaige showed his heart to his wife Chen Hong at the scene.

　　For his wife Chen Hong, Chen Kaige also expressed his excitement at the scene. "I want to say to Chen Hong, hold your hand and grow old with your son!" As the solid backing of Chen Kaige, Chen Hong blushed in public and shouted to her husband Chen Kaige warmly, "In fact, there is no need to worry, we have done our best!"

Huang Xiaoming and Jane Zhang sang "Young Zhao Gu" in a golden voice.


Huang Xiaoming sings songs.


Jane Zhang sings songs.


Zhao Wenhao, the young orphan of Zhao, performed a live dance.

　　In the play, the young Zhao is brave and good at fighting; Off-stage, Zhao Wenhao, the actor of Zhao Gu, a teenager, is also stunted. At the recording scene of "Premiere", Zhao Wen showed off his real kung fu, kicking and rolling on the spot … … The scene also remembered bursts of applause.

　　In addition, Jane Zhang also appeared to sing the theme song of Chen Kaige’s classic "When Love Is Past". Huang Xiaoming also sang loudly and performed Leslie Cheung’s old song Together.

More wonderful pictures on the next page

Hong Kong Stock Morning Post ｜ Global asset management giant Fidelity International aggressively increased its position in China’s Internet leader in August

　　[Yesterday Review]

　　On September 15, Hong Kong stocks rallied, with the Hang Seng Index rising 0.44% and the Hang Seng Technology Index rising 0.25%.

　　Internal housing stocks rose collectively, with R & F Real Estate, Country Garden, and Longguang Group rising by more than 8%. On the news, the Suzhou urban area has adjusted the policy for foreigners to buy their first suites, and no longer needs to show social security certificates or individual tax certificates; another news said that Guangzhou has relaxed the price limit policy, and the record price of new houses can rise by 10% and fall by 20%.

　　CRO plate collective rebound. WuXi Bio rose more than 6 %，（）、（） rose more than 5%.

　　Fosun rose higher, Fosun International rose more than 9%, () rose more than 1%. On the news, Fosun will file a lawsuit in court over the serious inaccuracy of relevant foreign media reports.

　　Southbound funds bought a net 2.16 billion Hong Kong dollars on the day. WuXi Bio was favored by nearly 700 million Hong Kong dollars of funds and ranked first in the buying list. It is worth noting that Southbound funds added WuXi Bio for 3 consecutive days, accumulating nearly 2 billion Hong Kong dollars. Tencent Holdings, China Overseas Development, etc. ranked at the top of the buying list; GCL Technology, Geely Automobile, etc. ranked at the top of the selling list.

　　[Capital flow]

　　Add Tencent 60%! Global asset management giant Fidelity international bottom fishing China Internet leader

　　Although the recent adjustment of class A shares and Hong Kong stock markets has not changed the attitude of some foreign investors to increase their positions in Chinese assets.

　　According to the latest data from Morningstar, Fidelity International’s China Equity Fund has updated its position as of the end of August. Fidelity International’s China Consumer Power Fund has increased its position in most of its heavy stocks, and China Focus Fund has also increased its position in many heavy stocks.

　　During August, the fund fully increased its holdings of Tencent Holdings, Alibaba, Meituan, JD.com and other Internet stocks. Among them, Tencent Holdings and Alibaba increased their holdings by a relatively large margin. During August, the fund increased its holdings of Tencent Holdings by 6.36%. The market value of the holdings at the end of the period was 417 million US dollars, and the 10.11% shares of Alibaba were increased. The market value of the positions at the end of the period was 339 million US dollars.

　　At the same time, the fund reduced its 4.36% stake in AIA, while Ping An H shares, which is also in the insurance industry, gained 10.64% of its stake.

　　As of the end of August, the top ten holdings of Fidelity International’s China Consumer Power Fund were Tencent Holdings, Alibaba, Meituan, AIA, Mengniu, Galaxy Entertainment, Ping An H Shares, JD.com, and Shenzhou International.

　　Fidelity International’s other China equity fund, the China Focus Fund, has increased its exposure to internet stocks by more than 60 per cent.

　　During August, the fund increased its position in Tencent Holdings by 61.18%, with a market value of $163 million at the end of the period. At the same time, the fund moved the US stock Alibaba to Hong Kong stocks. In August, it reduced its stake in Alibaba ADR by 7.12% and increased its stake in Hong Kong stock Alibaba by 17.66%. Financial stocks such as Construction Bank, China Merchants Bank, and Industrial and Commercial Bank of China were also increased by the fund.

　　As of the end of August, the top ten major holdings of Fidelity International’s China Focus Fund were Tencent Holdings, Construction Bank H Shares, Alibaba, Alibaba ADR, () H Shares, China Merchants Bank H Shares, Industrial and Commercial Bank of China H Shares, Baidu ADR, Lenovo Group, and () H Shares.

　　[Institutional Perspective]

　　Tianfeng Securities: The turning point in the performance cycle of the Internet sector has been established, which is expected to attract additional funds

　　() believes that after the Politburo meeting in late April set the tone, platform economic governance gradually shifted to normalized governance due to the past centralized supervision. Under the current phased environment, platform enterprises play an important and positive role in "stabilizing employment". Overall, we believe that macro-setting underpins the domestic policy environment, industry supervision tends to return to normalization, and with the gradual implementation of key rectification cases, uncertainty is significantly alleviated.

　　At the same time, the Internet industry’s second-quarter results were announced one after another. Most platform companies’ performance exceeded market expectations, some business income was more resilient, and the industry as a whole reduced costs and increased efficiency significantly. Although the subsequent revenue acceleration may still depend in part on the recovery of domestic economic growth and the acquisition of game license numbers, etc., the brokerage still believes that the current round of the downward revision of China’s Internet industry’s phased profit expectations may be basically over, and the inflection point of the performance cycle is basically established.

　　Overall, with the improvement of the policy environment in the Internet industry and the establishment of a profit inflection point, the mid-term valuation is relatively cost-effective, which is expected to attract additional funds. It is recommended to pay attention to: Tencent, Meituan, Kuaishou, JD.com, Pinduoduo, NetEase, Alibaba, Bilibili, etc.

　　[Major announcement]

　　BYD board secretary responds to screenshots sent online: How can the electric vehicle industry decouple?

　　Last night, a screenshot circulated online claiming that the IRA Act requires that Chinese batteries be banned after 2024.

　　In this regard, Li Qian, the secretary of the board, wrote in Moments, "I don’t see how the electric vehicle industry can decouple. In the electric vehicle industry, the United States is still in its infancy, relying on increased subsidies to support it, while China has completely shifted from policy-driven to market-driven."

　　The new team of Tianfeng Securities also issued a document saying that the IRA bill only says that starting from 2024, any country whose battery components are produced in the list of "countries of special concern" (China is included) will no longer apply subsidies, and there is no requirement to ban them.

　　According to the news, Kuaishou’s international business organization has been adjusted to fully accelerate commercialization

　　On September 15, according to LatePost, Kuaishou Senior Vice President Ma Hongbin made a round of adjustments to the organizational structure of the department after leading the internationalization business for more than a month.

　　After this adjustment, Xu Zhiwei, the head of internationalization original products and operations, will only be responsible for products, and the operation business will be transferred from the domestic main station business to Chen Ji, who will report to Ma Hongbin. Wang Meihong, the former head of the internationalization technology and growth team, has left the internationalization business department and transferred to the assistant CEO.

　　According to reports, Ma Hongbin will continue the business direction previously set by Kuaishou’s internationalization division: not to do large-scale growth, but to accelerate commercialization in an all-round way.

　　After Miniso was shorted, it responded: an independent investigation revealed that the relevant allegations were unfounded

　　Miniso announced the latest progress of its independent investigation on September 15, saying that the short-selling report issued by short-selling agency Blue Orca Capital on July 26, 2022 was unfounded.

　　Miniso said that after the short-selling report was published, the company’s board of directors established an independent committee to oversee the independent investigation into the allegations in the report. The independent investigation was overseen by an independent committee and conducted with the assistance of forensic accounting experts from an international law firm and a well-known forensic accounting firm.

　　Ultimately, the independent committee concluded that the findings of the independent investigation were consistent with the preliminary findings, and that the allegations related to the short report were unfounded.

　　Dongfeng Group plans to open the first round of external capital increase 30 billion its Lantu Automobile through bonds and other financing

　　Dongfeng Group shares released a financing plan for 2022, and the move is a big deal.

　　On the evening of September 14, Dongfeng Group announced that the company plans to apply to the Securities Supervision Commission for the registration of securities market bonds of 10 billion yuan and the China Interbank Market Dealers Association for the registration of interbank market bonds of 20 billion yuan, a total of 30 billion yuan.

　　A day earlier, the information on the capital increase project of Landmap Automobile under Dongfeng Group was officially disclosed on the Shanghai United Equity Exchange. This capital increase is the first external equity financing since the establishment of Landmap Automobile. After the completion of the capital increase, it is expected that Dongfeng Group shares will hold no less than 77% of the equity, strategic investors will hold no more than 15% of the equity, and the employee shareholding platform will hold no less than 8% of the equity.

　　Lantu said that this external financing will further optimize the shareholding structure of Lantu Automobile and accelerate the reform process of the state-owned enterprise system and mechanism.

　　[Financial data]

　　1 (): Recently won the bidding 91.20 billion yuan major project.

　　2. People’s Insurance Group of China: January-August insurance premium income 452.461 billion yuan, an increase of 9.89%.

　　3 (): August commercial coal sales 25.96 million tons, an increase of 1.3%.

　　4. Weicheng International: It is expected that the annual net loss will be about 46 million yuan.

　　5 (): The accumulated original insurance business income from January to August was 290.90 billion yuan.

　　6. China’s property and casualty insurance: January-August insurance premium income of 340.247 billion yuan increased by 9.8% year-on-year.

　　7 (): Passenger turnover in August Passenger turnover rose by 56.4% year-on-year and fell by 4.9% month-on-month.

　　8 (): From January to August, the newly signed contract amount 832 billion yuan increased by 5.9% year-on-year.

　　9. China Eastern Airlines shares: August passenger turnover rose by 62.14% year-on-year.

　　[Investment and Operation]

　　1. Geli Pharmaceutical-B: Shanghai Public Health Clinical Center has completed the clinical study of PD-L1 antibody ASC22 combined with cidamide for the functional treatment of HIV infection.

　　2. Qiansheng Group Holdings: Signed a memorandum of understanding with Guangzhou Maiwei Technology.

　　3. TRUE PARTNER: 10 million yuan subscription fund.

　　4. ISP GLOBAL: Signed a strategic cooperation agreement with Nian Nian Card Group.

　　5. Central Holdings: Enter into a strategic cooperation agreement with ().

　　6. China Everbright Green Environmental Protection: spend 4.74 million yuan to purchase equipment and related technical services from Everbright Environmental Changzhou.

　　[Repurchase and Cancellation]

　　Tencent Holdings: on September 15 spent 351 million Hong Kong dollars to buy back 1.17 million shares.

　　2. Skyworth Group: repurchased 8 million shares at a cost of HK $2862.16 million on September 15.

　　3. SMIC: On September 15, it spent 53.2195 million Hong Kong dollars to buy back 3.3015 million shares.

　　4. Xiaomi Group-W: Purchased 2.30 million shares at a cost of HK $2402.56 million on September 15.

　　5. AIA: On September 15, it cost 178 million Hong Kong dollars to buy back 2.485 million shares.

　　6. China Software International: On September 15, it cost 5.7469 million Hong Kong dollars to buy back 1 million shares.

　　7. Swire Pacific A: Purchased 262,000 shares at a cost of HK $14.454 million on September 15.

　　8. Standard Chartered Group: On September 14, it cost 9.4701 million pounds to buy back 1.5504 million shares.

　　9 (): On September 15, it cost 33.413 million yuan to buy back 3 million class A shares.

　　10 (): On September 15, it cost 41.9388 million yuan to buy back 1.358 million class A shares.

　　11. Changshi Group: On September 15, it cost 33.1418 million Hong Kong dollars to buy back 630,500 shares.

　　12. China Feihe: On September 15, it cost 6.0596 million Hong Kong dollars to buy back 1 million shares.

　　13. Fosun International: On September 15, it cost 29.26 million Hong Kong dollars to buy back 6 million shares.

　　14. DXN Service Group: Purchased 2.63 million shares at a cost of HK $7.89 million on September 15.

　　15. ASMPT: Purchased 150,000 shares at a cost of HK $9.405 million on September 15.

　　16. Greentown Services: Purchased 702,000 shares at a cost of HK $3.9968 million on September 15.

　　17. Easy Bulk: On September 15, it cost 6.157 million Hong Kong dollars to buy back 4 million shares.

　　[Other]

　　1. Bohai Bank: Employees plan to buy more than 25 million H shares of the company with equity funds.

　　2. China Communications Construction: The controlling shareholder has increased its holdings of about 264 million H shares.

　　3. First Cheng Holdings: State Management Holdings intends to purchase 728 million shares of the company.

　　4. Jianye Real Estate: plans to repurchase shares in the open market under the repurchase authorization.

　　5. Ali Health: Granted 5.8233 million restricted share units.

　　6. Qiu Titanium Technology: He Ningning, the controlling shareholder and chairperson of the board of directors, increased 100,000 shares.

　　7. Baoxin Financial: It is planned to conduct a "20-in-1" share merger.

　　8. Dashan Education: It is proposed to acquire approximately 45.75% of KSIEducation for 5.80 million pounds sterling.

　　9. China Investment and Development: It is proposed to discount approximately 19.79% of the 492 million shares to raise 37.40 million Hong Kong dollars.

＂Embroidery Spring Knife · Shura Battlefield＂ sends blood MV 7.19 to detonate in advance of summer

1905 movie network news The film was officially released on 7.19 recently, setting a new record in the history of Chinese film three weeks ahead of schedule, which shows the confidence of the filmmakers. The film gathers the previous film Golden Horse team, director Lu Yang teamed up with Ning Hao to supervise the production of "Two Blades", and also brings together Zhang Zhen, Yang Mi, Zhang Yi, Lei Jiayin, Xin Zhilei, Jin Shijie, Liu Duanduan, Li Yuan, Wu Qiang, Yang Yi, Wu Xiaoliang, Li Hongtao, Liu Fengchao, Yuan Wenkang, Ma He, Liu Tingzuo, Wang Renjun and other powerful lineups. The film specially announced the MV of the theme song "Embroidery Spring" by Tan Weiwei and the score of Dashen Kawai Kenji, and also exposed the ultimate poster of "Early War", which made the film "the hottest work when it was hot".

　

Tan Weiwei’s "Embroidery Spring" MV Interprets "The Most Burning Work" "Embroidery Spring Knife · Shura Battlefield" Explodes Summer

In 2014, he achieved a double comeback at the box office with the trend of a dark horse, and was shortlisted for 5 Golden Horse Awards in one fell swoop, and won the Best Styling Design Award. In the past three years, the film has undergone repeated reviews by martial arts fans, two-dimensional elements, and detail parties, but the reputation remains. Now the latest big-screen work in the series "Embroidery Chun Knife · Shura Battlefield" has been strongly parachuted into a new schedule of 7.19, completely detonating the 2017 summer season with the attitude of "young new martial arts" when the "heavy heat" is approaching.

　

This time, the MV of "Embroidery Spring" by Tan Weiwei and the soundtrack of Dagami Kawai Kenji is the first material after the film is raised, and it also shows the aura of "the hottest work when it is hot". Unlike the previous "Love as Light as You" with a soft and ancient style, the MV of "Embroidery Spring" is more passionate and powerful, especially the angry sound of "grievances, love and hate are clearly broken", which makes people listen to the blood boil. The two MVs also present the tension of "Embroidery Spring Knife Aesthetics" in the symbiosis of opposites: the film has both a hot-blooded rhythm, fighting and video style, as well as a romantic and tactful love and meaning.

　

The two songs were also teased by netizens as "listening to the male voice will be silent, listening to the female voice will cry" due to their difficult interpretation, and entered the "Death Cover Series". Audiences who were the first to watch the film said: There will also be a more chic pure music version of "Love as Light as You" in the film, and the theme song "Embroidery Spring" will also be presented in a stunning way at the end of the film, making the ending unforgettable and one of the easter eggs.

　

The advanced screening was well received both inside and outside the industry, and the battle started three weeks in advance to set a record in Chinese film history

In addition to the well-made songs, after three years of polishing, "Embroidery Chun Dao · Shura Battlefield" has been fully upgraded in terms of lineup, technology and story. During the Shanghai Film Festival in mid-June, the film won the "Weibo Most Anticipated Martial Arts Film" award, and was even invited to be screened as the opening film of "Jackie Chan Action Film Week". It won the first round of good reputation such as "high-level original IP", "compact pace, good burning and excitement", "Lu Yang shot crazy. The characters stood up as soon as they appeared", "They are all drama bones, and the supporting actors are amazing". Some media directly issued an article saying: "This time I really hope that the box office can be proportional to the word of mouth."

　

The first round of good word-of-mouth also made the film full of confidence. This time, it was released three weeks in advance for a total of 23 days, which not only broke a new record in Chinese film history, but also reflected the film’s confidence in its own excellent quality. The ultimate poster of Ling Li’s hot blood, which was exposed with this MV, was assembled on the battlefield, and the "7.19 early battle" showed full of aura and confidence.

　

The movie "Embroidery Chun Dao · Shura Battlefield" is the first work of Bad Monkey Films’ "72 Change Film Project", written by Chen Shu, Lu Yang and Yu Yang, and has been officially submitted on July 19.

Lithium Battery Industry Chain Weekly ｜ BYD Becomes NIO Power Battery Supplier, CATL Beijing Battery Factory Approved to Start Construction

Interface News Reporter | Gao Jing

BYD becomes NIO power battery supplier

MIITrecentlyThe new product announcement of motor vehicles revealed that the first model of NIO’s second brand, Ledao, will be equipped with BYD(002594.SZ)Lithium iron phosphate battery. Lithium iron phosphate battery and ternary battery are the two main technical routes of power battery at present. The former is the main direction of BYD. Ledao Automobile plans to mass-produce its first model L60 in September this year. The pre-sale price of this medium-sized pure electric SUV model is 219,900 yuan. In May this year, the news that BYD has become a Ledao power battery supplier has been spread, but neither company has responded positively to this. The above product announcement confirms that BYD and NIO have indeed cooperated in the field of power batteries.

Ningde Times Beijing battery factory allowed to start construction

June 18, by Ningde Times(300750.SZ)The groundbreaking ceremony of the Beijing Times Battery Base Project jointly invested and constructed with BAIC Group, Jingneng Group, and Xiaomi Group was held in Beijing.According to Ningde Times, the Beijing Times battery base project is designed according to the high standard of "Lighthouse Factory + Zero Carbon Factory", and adopts the most advanced high-tempo, high-automation rate and high-flexibility production line of Ningde Times. After completion, it will provide stable mass production and high-quality battery products for Beijing-Tianjin-Hebei automaker customers such as BAIC, Xiaomi, and Ideal. Beijing Times was registered and established in May this year with a registered capital of 1 billion yuan. Its business scope mainly includes the development, production and sales of power batteries and energy storage batteries. Ningde Times holds 51% of the joint venture company, BAIC Sea Blue Core holds 39%, and Jingneng Technology and Xiaomi Automobile each hold 5%.

Yiwei Lithium Energy plans to promote a cooperative business model in Europe, America and other regions

On June 18, Yiwei Lithium Energy(300014.SZ)Chairperson Liu Jincheng said at the company’s first lithium battery conference that a business model mainly aimed at the European and American markets will be launched, namely the CLS global cooperation business model. CLS is the English abbreviation of three cooperation models: cooperation (Cooperation), technology licensing (Licence) and service (Service). Liu Jincheng said that Yiwei Lithium Energy announced last year that it will cooperate with Daimler Trucks, Paka and Cummins in the United States to establish a cooperationofThe US commercial vehicle battery cell factory belongs to this CLS modelThe joint venture plant will obtain the license for the production, manufacturing and sales of battery cell products from Yiwei Lithium Energy, and pay the license fee as agreed. The batteries it produces will be sold primarily to the joint venture party in North America.

The general manager of Funeng Technology left after one year

＂Wubai Package＂ is popular, and the concert revolves the stage to reveal the mystery

　　


　　


　　


　　


　　


　　


　　


　　wubai


　


　　The "You Are My Flower" Beijing concert is about to land at the Beijing Workers’ Sports Center on April 18 and has now entered the countdown stage. It is known that the Beijing concert Wu Bai will dedicate all the classic songs of different periods in the past 16 years, such as "Ronin Love Song", "White Dove" and "Crying Man", to fans at one time.


　　"Wubai Package" is popular and has become a new highlight of the Beijing concert market


　　According to the organizers, the Wubai Beijing Concert has launched three "Wubai Packages" related to Wubai in ticket sales, which have not only been enthusiastically pursued by fans, but also won a high popularity in the market and set off a high tide of ticket purchases.


　　The launch of the "Wubai Package" originated from Wubai’s desire to bring more fans to the scene to experience music, enjoy rock and roll, and share his passion. Wubai said that the picture he most wanted to see on the day of the concert was that fans and friends could use their imagination and dress up in various "cool costumes" to dance with him.


　　The three performance packages named after "Wubai" are respectively "Double Wubai Package", that is, 1,000 yuan can buy two tickets with an original price of 580 yuan, and "Wubai Package", that is, 500 yuan can buy two tickets with an original price of 380 yuan and three tickets with an original price of 180 yuan.


　　The rotating stage unveils the final mystery


　　When Wu Bai came to the Beijing concert press conference in March, he revealed that the stage of the Beijing concert was like a big hot pot table. Recently, the details of the stage design plan for the concert were finally announced for the first time. In order to match the theme of "flower dance" and "cold rock", the stage design this time specially used a 360-degree rotating stage. It is known that this is the first time that the Workers’ Stadium has used a 360-degree rotating stage. There will also be an elevator in the middle of the stage. No matter the distance of the location, every audience can clearly see Wu Bai. In terms of styling, Wu Bai is also creative. It is known that he will continue to carry forward the "Taiwanese aesthetics" in this concert to subvert the previous styling.


　　"Cold Rock District" enjoys a half-price discount on tickets alone


　　According to the latest news, in order to cooperate with the theme of "cold rock" this time, the organizers have specially opened up an exclusive area called "cold rock" for die-hard fans who like Wubai. In this area, fans can enjoy the charm of cold rock with Wubai. And fans who buy tickets to the "cold rock area" can enjoy a half-price discount. The only purchase condition is to hold Wubai’s genuine CD to the designated location (Room 2102, 21st Floor, Building 16, Jianwai Soho, No. 39 East Third Ring Middle Road, Chaoyang District, Beijing) to buy tickets. Interested fans and friends can call 962000 for telephone consultation.


　　Wu Bai, who is strict with himself and his music, faced the audience’s "no dead ends" performance in front, back, left, right, 360 degrees in all directions. He said: "To give Beijing fans an unexpected surprise!"


Editor in charge: Zhou Zhongxiao

Is it really affordable or is there a trap？ Is free broadband really a good deal？

　　Handling a mobile phone number can not only make phone calls and send text messages, but also bind broadband accounts and get free broadband — — This "mobile phone package+free broadband" model sounds practical and cost-effective, and is favored by many consumers. Mr. Liu, a Shanghai citizen, chose a similar communication package. He told the author that the primary reason for his choice was "feeling very cost-effective".

　　However, some users said that without their knowledge, the free broadband that was handled a year ago began to be charged quietly, but it was difficult to cancel it. Is the "free broadband" package really affordable or is there a "trap"? What problems should consumers pay attention to when choosing this kind of business?

　　"Package" is not for everyone.

　　Data show that at the end of 2018, the number of fixed Internet broadband access users in China reached 407.38 million, an increase of 58.84 million over the end of last year. Free broadband and preferential packages vigorously promoted by major operators are indispensable. Operators seize market share through free broadband, which makes giving free broadband to mobile phone packages increasingly become a mainstream communication package type. However, when different consumers choose this kind of package, the experience is very different.

　　Yan wang, who lives in Zhengzhou, Henan Province, has been using a mobile phone to bind broadband services for three years. "The free broadband given in the mobile phone package is no problem to use, and the mode of automatic monthly payment also provides convenience for users." Yan wang said that when he first moved into his new home, he packed a set meal with the recommendation of the salesman. "Do broadband alone for a month to 40 yuan; Tied together, the telephone bill and broadband add up to 68 yuan every month, and I feel that the price is still very affordable. "

　　However, Cui Le, a junior at Wuhan University, is not satisfied with the same "free broadband" business. Under the propaganda of the communication company, Cui Le and several roommates handled a set meal together. However, after a period of use, Cui Le found that the given broadband service was not suitable for campus use: the database purchased by the school could not be used, and the teaching platform could not be logged in. But at the beginning of the business, no one told them that such problems might occur. After several months of continuous deduction, Cui Le and several roommates felt "lost" and had to go to the business hall at the same time to unsubscribe from the business and cancel their mobile phone numbers.

　　Be careful of "default automatic renewal"

　　The author’s investigation found that consumers’ dissatisfaction with the "mobile phone package+free broadband" model is mainly reflected in the following aspects:

　　Free broadband is difficult to meet the needs of specific groups. Like Cui Le, many students in school have been troubled by the incompatibility between free broadband and campus network, which leads to the helplessness of going to the library to "surf the internet" when there is broadband in the dormitory.

　　Most free broadband packages are automatically renewed by default, which is unreasonable for users who don’t want to use broadband continuously. Netizen "john young" vomited on the social network that his phone bill somehow rose to the monthly 300 yuan. Only after inquiring did he know that the free broadband he had received had expired, but the service did not terminate, but he continued to deduct money.

　　For users who want to unsubscribe, change packages or "port number transfer", the process is relatively troublesome. Xiao Zhang, who studied at the Central Academy of Fine Arts, applied to the operator for changing the lower tariff package in early 2018, but it has not been changed successfully so far. "The salesman first said on the phone that he would help me change it and take effect the next month, but then I found that the previous package had been automatically renewed for one year. To cancel the contract, I can only go to the business hall where the number belongs. My mobile phone number is from my hometown in Henan. It is impossible to go back from Beijing just to change the package. "

　　"port number transfer" forced operators

　　Can consumers avoid the above troubles while enjoying the preferential treatment? During the interview, Xu Li, a staff member of China Unicom, suggested that consumers should fully understand the package and contract before buying. "In order to avoid unnecessary troubles, users must carefully read the terms of the package contract before or during the handling of such bundled packages, and ask for early termination, ‘ Port number transfer ’ , due fees, etc., and then make a choice based on your own situation. " Xu Li said.

　　In response to the problem of automatic fee deduction, Liu Chunyan, an associate professor at Tongji University Law School, pointed out that mobile phone operators and users signed service contracts. If the operator does not inform the user and changes from free to charge, it is a unilateral change of the contract, which is a violation of the contract and constitutes a breach of contract. Furthermore, taking the form of automatic deduction unilaterally also infringes on the property rights of users, which constitutes infringement.

　　The promotion of "port number transfer" is also forcing major operators to improve network quality and service level as soon as possible. On May 21st, at the policy briefing in the State Council, Chen Zhaoxiong, Vice Minister of the Ministry of Industry and Information Technology, pointed out that users should be guaranteed to fully enjoy the rights and interests of "port number transfer" and ensure that "port number transfer" will be realized nationwide before November 30th this year, so as to truly "take the number in hand and leave when you say it".

　　Xu Li believes that "port number transfer" has brought great challenges to operators. "In the future, we will optimize the package and simplify the products from the user’s point of view." Yan wang said with emotion: "‘ Port number transfer ’ The times are coming, and operators should think more about how to make good products. Users should be informed of the package terms more transparently, instead of using ‘ Free broadband ’ Wait for the gimmick to tie the user. "