The Great Wall Gun "Fired" Shanhai Gun Performance Edition Hard Core Debuted 23 Black Bombs.

[Text/Financial Circle Society & Dao Ge said that cars are shallow] At present, China’s automobile industry is in a period of deep change. On the one hand, new energy vehicles are rising rapidly, and product categories are undergoing drastic changes. On the other hand, the domestic automobile market is undergoing a fierce price war. The more such an era, the more profound the actions of automobile brands are. As the weather vane of the central and western automobile market, the 26th Chengdu International Automobile Exhibition opened on August 25th, and major automobile brands competed with each other. In the meantime, Caiquan Society and its "Brother Daoge Talking about Cars" will provide first-hand information on new cars for the majority of car enthusiasts, so please pay attention!

There are only two kinds of pickup trucks in China, one is the Great Wall and the other is others. "The first high-end pickup truck brand in China that broke through 500,000 units" made Great Wall Gun attract the attention of the whole industry in the past week. Thanks to the glory of being the first seller at home and abroad for 25 years in a row, Great Wall has already become the leader in the pickup truck market.

At this year’s Chengdu Auto Show, the Great Wall Gun was unveiled with a full-featured family. As the leading model, Shanhai Gun Performance Edition, a large-scale high-performance luxury pickup truck owned by Great Wall Gun, is the world’s first show. With the ultimate strength of "bigger, stronger and more luxurious", it has made China’s toughest off-road pickup truck, customized a total of 2023 black bombs, and launched them with an official guide price of 258,800 yuan.

At the same time, Shanhai Gun Passenger Edition, 2023 Cross-country Gun Everest Edition-500,000 commemorative editions, and Great Wall Gun "Bomb" series performance pickups-2023 Dragon Bomb and Fire Bomb Single-row E-family Limited Edition, etc., made a concentrated appearance and attracted the attention of the audience, leading the value of pickup trucks in China to rise. The managers of the five major battalions of Shanhaiying also made their debut. The Great Wall Gun joined hands with Shanhaiying Culture to create an official, continuously linked users and fans, and created a full-scene pickup truck life, which injected new impetus into the development of pickup culture in China.

Leading the value of high-end off-road pickup trucks. Advanced Shanhai Gun Performance Edition is the world’s first show.

As another masterpiece of passenger leisure category, Shanhai Gun Performance Edition is based on the tank platform, which perfectly integrates hard-core off-road and intelligent luxury, making it bigger, stronger and more luxurious. Original factory mass production, ensuring worry-free licensing, worry-free on the road, worry-free annual inspection and worry-free after-sales, and becoming a super partner for users all over the world to enjoy outdoor and vertical and horizontal worlds.

The performance version of Shanhai Gun is 5493mm long and nearly 2 meters wide, which is close to a full-size pickup truck. For the first time, the unique body color of "Golden Armor" is adopted, which symbolizes the cross-country spirit of courage to challenge and constantly break through, and reflects the courage and strength of China pickup truck to attack the world and the top three in the sword.

Thanks to the design of shortening the rear suspension, increasing the wheelbase, widening the wheel track and optimizing the shock absorption layout, the performance version of Shanhai Gun has a more harmonious body proportion and the largest driving space in its class. The elbow bandwidth in the car reaches 1.6 meters, allowing users to enjoy the first-class driving experience.

In addition to high face value and large space, the performance version of Shanhai Gun is inherently powerful. Equipped with the only and most powerful domestic 3.0T V6 engine, with 9AT, it is full of power and always online.

The whole system comes standard with Borgwarner 4A+MLOCK intelligent four-wheel drive, and comes standard with front and rear axle electronically controlled jaw differential locks, which are the real three locks, improving the ability to get out of trouble, off-road experience and high energy all the way. The original factory comes with millions of off-road equipment, 18-inch off-road AT tires, K-MAN nitrogen shock absorption and 12,500-pound T-MAX winch blessing, which is easy to conquer. The whole vehicle is raised by 1.5 inches, the minimum ground clearance is 239mm, and the wading throat is added. The maximum wading depth is 900mm, and the passability is the strongest at the same level.

In addition, Shanhai Gun Performance Edition has an open and ever-changing trunk, factory-provided C6 towing qualification, meets the certification of 3.3-ton trailer, is the first three-door canopy in China, is electrically controlled, can be detached, increases the variety of space, and plays with the life of pickup trucks in the whole scene.

Shanhai cannon performance version cockpit, leap above luxury. The interior is covered with all-black gold, with matte electroplating decoration, and adopts 12.3-inch instrument and 14.6-inch central control panel suspension design, which is bursting with science and technology.

The first electric small window on the rear windshield in China is convenient for photography and pet interaction; The pickup truck is the first electric adjustment of the rear seat, with a maximum backrest angle of 33 degrees, and a quiet and comfortable cockpit with NVH. The performance version of Shanhai Gun is the most comfortable and quiet pickup truck within one million classes. Equipped with L2-level advanced intelligent driving assistance, it supports ACC adaptive cruise, intelligent cruise and other functions, fully satisfying users to realize high-quality intelligent travel.

Born for cross-country, for the ultimate. The performance version of Shanhai Gun is expected to be officially launched in the fourth quarter of 2023, and the official price may be as low as 300,000 yuan, which is worth looking forward to.

23 black bombs are stunning, and the full-performance family lineup shines.

At this year’s Chengdu Auto Show, the 2023 Black Bomb was officially launched. Based on the genes of high value, high performance and high reliability, it realized "interior upgrade, power upgrade and intelligent safety upgrade", leading China to create a personalized pickup truck with higher quality, stronger performance and better experience.

23 black bullets are all-black with bright orange embellishment, which is full of fashion temperament. The interior is fully upgraded, with a large area of soft coating and veneto red, which is very advanced; Equipped with 12.3-inch Zhilian touch screen +7-inch color LCD instrument, laser carving process luminous decorative board, 50 watt wireless fast charging, full of science and technology.

The power of the new car is fully upgraded, equipped with a 2.0T high-power engine, and the maximum net power is increased to 160kW, and the maximum net torque is increased to 380 N m. With the help of Borgwarner part-time 4wd system and front and rear axle differential locks, it can cope with all kinds of extreme terrain calmly. In addition, the original factory of Black Bomb is equipped with K-MAN nitrogen off-road shock absorber, 12,000-pound winch, Bailuchi KO2 tire, wading throat and other fever-grade off-road equipment. The original factory comes with 2.5 tons of traction qualification to help users enjoy hard-core outdoor life.

The new car is fully upgraded in intelligence and safety. It is equipped with ESP body stabilization system, megapixel 540-degree viewing system, and new high-order intelligent driving assistance system, which covers ACC adaptive cruise, intelligent dodge, etc., and cooperates with high-strength body active and passive safety to bring all-round armor protection and ensure driving safety.

In addition to Shanhai Gun Performance Edition and 2023 Black Bomb two hard-core pickups, Great Wall Gun also brought a variety of full-performance family products on the same stage, showing the charm of pickups.

Join hands with the ultimate players to create mountain and sea culture

At this auto show, Great Wall Gun promoted the brand 2.0 strategy to continue to land with the comprehensive TO C service concept. Focusing on the concept of mountain and sea culture, Great Wall Gun constantly links people with interests such as off-road and refitting, creating a full-scene pickup truck life with users and exploring the ultimate life.

He Xudong, the top ten contemporary explorers in China, and Shao Haifeng, the founder of Cross-country Road, two extreme life players, appeared at the Great Wall Gun booth as special guests of Shanhai Culture Co-creation, bringing users the ultimate life story and unlocking the ultimate experience of infinite surprises; The five managers of Shanhaiying announced the follow-up plan for the co-creation of Shanhaiying culture, fully empowered users to cross mountains and seas, and injected new impetus into the pickup truck culture in China.

Standing under the glory of 500,000 sets, Great Wall Gun will continue to insist on category innovation and user co-creation, create high-value pickup products with technological innovation, and fight for the international mainstream brands in the global market, making China pickup trucks popular all over the world.

The 34th China Film Golden Rooster Awards Press Conference was held in Xiamen.

  This year marks the 40th anniversary of the Golden Rooster Award for Chinese films and the 30th China Golden Rooster and Hundred Flowers Film Festival, which coincides with the 40th anniversary of the construction of Xiamen Special Economic Zone. On December 28th, the China Golden Rooster and Hundred Flowers Film Festival and the press conference of the 34th Golden Rooster Award for Chinese Film were held in the picturesque "Ludao" Xiamen. Liao Huasheng, member of the Party Group and Vice Mayor of Xiamen Municipal People’s Government of Fujian Province, Yan Shaofei, Deputy Secretary and Secretary General of the Party Group of China Film Association, and La Peikang, Vice Chairman of China Film Association, attended the meeting. The conference was hosted by La Peikang, and Liao Huasheng and Yan Shaofei delivered speeches respectively.

  From right to left: Liao Huasheng, member of the Party Group and Vice Mayor of Xiamen Municipal People’s Government of Fujian Province, Yan Shaofei, Deputy Secretary and Secretary General of the Party Group of China Film Association, and La Peikang, Vice Chairman of China Film Association.

  Founded in 1981, the Golden Rooster Award for Chinese Film is a national award-winning activity approved by Publicity Department of the Communist Party of China and sponsored by China Federation of Literary and Art Circles and China Film Association. Over the past 40 years, the Golden Rooster Award for Chinese films has always been based on the principle of "academic, contending and democratic", rewarding outstanding films and commending outstanding film artists, which has made positive contributions to the prosperity and development of China’s film art creation, promoting film theory and criticism, improving the overall level of China’s film art and technology, and enhancing the international status of China’s films. The Golden Rooster Award is also known as the "Expert Award" for China films because of its professional and academic criteria, authoritative composition of the jury and democratic rigor of the selection process.

  Since the Golden Rooster Award was settled in Xiamen in 2019, the China Film Association and the Xiamen Municipal Government have been actively involved in the planning and preparation of the Golden Rooster Award activities based on the principle of pragmatic innovation, striving to present a Golden Rooster Award that fully demonstrates the characteristics of the times, movies and local features for the majority of filmmakers and movie audiences. China Golden Rooster and Hundred Flowers Film Festival in 2021 was co-sponsored by China Federation of Literary and Art Circles, China Film Association and Xiamen Municipal People’s Government. It was held in Xiamen from December 28 to 30, 2021 for three days.

  From December 29th to 30th, the jury of the 34th China Golden Rooster Awards made a collective observation and final evaluation on the candidate films of this year’s Golden Rooster Awards, and judged the best awards of this year’s Golden Rooster Awards, which will be announced on the spot at the award ceremony. During the film festival, there will also be 30 large-scale activities in seven categories, including film exhibitions, forum ventures, and study symposiums in the film industry.

  At 19:30 on December 28th, the opening ceremony of the film festival and the commendation ceremony for the nominees of the Golden Rooster Award will be held in the Straits Hall of Xiamen International Convention Center. At 19: 00 on December 30th, the Golden Rooster Awards Ceremony and the closing ceremony of the film festival will be held in Xiamen Strait Grand Theatre. At that time, about 3,000 people, including Golden Rooster judges, nominated crews, awarding guests, famous film artists, film festival guests, leaders at all levels and Xiamen citizens, will attend. Six CCTV movie channels are broadcast live simultaneously.

  According to the Articles of Association and Selection Rules of the Golden Rooster Award for Chinese Film, the 34th Golden Rooster Award for Chinese Film will be selected: best feature film, best small and medium-budget feature film, best children’s film, special prize of the jury, best documentary/science and education film, best art film, best opera film, best foreign language film, as well as best screenwriter, best director, best director debut, best actor, best heroine and best supporting actor. Among them, the best foreign language film award was newly added this year.

  From July 7th to the end of this year, the registration of Golden Rooster Award has received a total of 185 films, including 50 feature films, 69 medium and small budget feature films, 11 children’s films, 11 art films, 25 documentaries/science and education films, 9 opera film films and 10 foreign language films.

  This year’s feature film unit primary selection group, composed of 25 experts, scholars and first-line creators in the film field, and the foreign language film primary selection group, composed of 6 experts, spent one month observing the 185 feature films and foreign language films that entered the competition, and after careful deliberation and discussion, 41 short-listed films were finally produced and submitted to this selection committee, including 16 feature films, 12 medium and small budget feature films, 6 children’s films and 7 foreign language films.

  During the film festival, the related film festival activities undoubtedly attracted the most attention and concern of the audience and fans. This year’s domestic film festival mainly focuses on the "New Films" section, presenting China’s new achievements in film creation with masterpieces. At that time, several films including "Tales of Yong ‘an Town" will be shown to promote outstanding works to more audiences. The Golden Rooster International Film Festival is the earliest international film cultural exchange platform in China, which has been held for 30 consecutive times since the first Golden Rooster and Hundred Flowers Film Festival in 1992. This year’s International Film Festival will show 38 films from 35 countries and regions, including new works by newcomers from countries along the "Belt and Road", world-renowned master classics, and word-of-mouth masterpieces focusing on all aspects of the epidemic.

  What is particularly worth mentioning is that this year’s Hong Kong Classic Film Exhibition will focus on the theme of "The Story of Hong Kong City", showing 11 Hong Kong classic films. Among them, the classic film In the Mood for Love directed by Wong Kar-wai will meet the audience in mainland China for the first time with a 4K restored IMAX version, which is also the world debut of IMAX version.

Twenty thousand words long! Guan Qingyou Team: 2022 Annual Outlook of New Energy Vehicles

New energy vehicles are an industry that we have always attached great importance to and tracked. This report was written in November last year, and its judgments on the callback of manufacturers in the middle and lower reaches and the change of valuation logic in the automobile industry are still correct. I hope this research report can help you invest in 2022.

This article was first published on December 14, 2021, and some of its contents still have reference significance, so it is reissued.

Part I: Re-offer

(1) Overall trend: α and β Qi Fei, 2021 is a capital year for the automobile industry.

In the selection of observation objects, we combed the whole new energy industry chain from upstream, middle and downstream, and included it in the popular tracks such as hydrogen fuel cells for analysis.From the industrial chain division, we divide the new energy industrial chain into four parts: downstream, namely, new energy vehicles (EV, PHEV) and related charging equipment; Midstream, that is, power lithium-ion batteries and motors used in new energy electric vehicles; Upstream, that is, the anode material, cathode material, diaphragm and electrolyte that make up the power lithium battery. In addition, we have included the combing of two popular plates: hydrogen fuel cell and skateboard chassis.

In 2021, the performance of the main targets of the new energy automobile industry chain is eye-catching, and the market is riding in all sectors.Benefiting from the fact that the overall sales volume of the automobile market is still stable and the market share of new energy vehicles is eye-catching, it has driven the valuation and profits of the industrial chain of new energy vehicles to rise, pushing the market of the sector to rise all the way. From the market trend, during the year (from January 1, 2021 to December 1, 2021), the weighted average growth rate of the total market value of Shanghai and Shenzhen 300, Shenwan automobile sector and new energy automobile industry chain was -10.96%, 19.92% and 41.72% respectively; Horizontally, the increase of the industrial chain of new energy vehicles can rank third in the first-class classification of Shenwan, second only to electrical equipment (which is highly coincident with the industrial chain of new energy vehicles) and non-ferrous metals (driven by the commodity market during the year); The top five growth sectors were electrical equipment (50.1%), nonferrous metals (48.2%), new energy (41.72%), mining (31.3%) and public utilities (30.0%).

Some track investment opportunities have narrowed, and the share of "sub-leading" configuration has increased.The concentration of overall institutional positions in the new energy vehicle sector has increased, and the head target of subdivided tracks has been favored by institutions. However, from the wind direction, the main force of institutional allocation has shifted from the first leader to the "second leader", which shows to some extent that some track investment opportunities have narrowed. In terms of institutional positions (including legal person shares), compared with 2020Q3, 2021Q3 includes charging piles such as Wanma (+10.84%), Dangsheng Technology (+6.61%), Putailai (+15.84%), Tianci Materials (+19.75%) and Xinzhoubang (+8.41%).

(2) Profitability: The overall profitability has been restored, and the upstream profits have increased rapidly due to price factors.

After the epidemic, the overall profit of the industrial chain recovered well, GAGR the net profit of the sector reached 42.4% in two years.According to the pool data of the industrial chain standard of new energy vehicles, the overall net profit of new energy vehicles in Q3 will increase by 63.8% year-on-year in 2020 (the epidemic situation was low in cardinal utility last year), and the overall net profit of the sector will reach 42.4% in two years. The main targets are godsend materials (GAGR+315.4% in two years), Shanshan (GAGR+210.5% in two years), German Nano (GAGR+95.3% in two years), Xinzhoubang (GAGR+90.4% in two years), Rongbai Technology (GAGR+85.7% in two years) and Dangsheng Technology (GAGR+85.7% in two years)

The upstream plate benefited from the influence of downstream growth and superimposed price factors, and its profit increased rapidly.In terms of industrial chain links, the downstream (vehicle, charging pile), midstream (battery, motor) and upstream (electrode, diaphragm and electrolyte) have a year-on-year growth rate of 22.1%, 34.9% and 265.5%, respectively, corresponding to Q3, and the GAGR is 25.7%, 30.4% and 97.9% respectively, corresponding to two years.

(3) Valuation: The double logic main line confirms that the valuation of high-volume and high-tech companies has risen significantly.

The valuation of the new energy vehicle sector is still firm, the downstream vehicle valuation is rising, and the upstream lithium battery industry chain valuation is slightly digested.According to the Wind data, the rolling P/E ratio (integral method) of Shanghai-Shenzhen 300, Shenwan first-class automobile classification and self-built new energy industry chain during the year (January 1, 2021-December 1, 2021) increased or decreased by -21.27%, -0.59% and -0.82% respectively, corresponding to the PE(TTM) at the end of the year of 12 times and 12 times respectively. In terms of industrial chain, the rolling P/E ratios of downstream (only counting the whole vehicle), midstream (battery, motor) and upstream (anode and cathode, separator and electrolyte) during the corresponding year (January 1, 2021-December 1, 2021) are 18.72%, -16.65% and -26.01% respectively.

Confirmation of downstream vehicle valuation by dual logic mainline.First, the traditional "manufacturing" valuation logic of automobile enterprises has changed into "consumption" logic, and the valuation center has a positive correlation with automobile sales, and high market share brings high profit growth expectations; Second, the valuation of some new car upstarts and new car-making power companies presents "scientific and technological" logic, and auto companies with high technical barriers and good product experience can get higher valuations.

(1) Total amount: In the short term, the total amount of automobile consumption in China has peaked, and the industry is in an active destocking cycle.

China is the largest automobile consumer in the world, with sales of all kinds of automobiles exceeding 25 million.China has become the world’s largest automobile market for 12 consecutive years since its total automobile sales surpassed that of the United States in 2009. According to the statistics of the International Automobile Manufacturers Association (OICA), in 2020, under the epidemic situation, China’s automobile sales exceeded 25 million, ranking first in the world. In 2020, the top five automobile sales countries are: China (25.31 million vehicles), the United States (20.24 million vehicles), Japan (4.59 million vehicles), Germany (3.26 million vehicles) and India (2.93 million vehicles). The annual automobile sales of China has surpassed the sum of the second-ranked United States and the third-ranked Japan. At the same time of high volume, on the one hand, among the major automobile markets (China, the United States, Japan and Germany), only China and the United States are still expanding; on the other hand, according to the data of the International Automobile Manufacturers Association (OICA), since 2011, the sales of China, the United States, Japan and Germany have increased by 36.78%, 55.25%, 9.22% and -6.85% respectively. Especially after the outbreak, all major automobile markets were hit. In 2020, the annual sales of China, the United States, Japan and Germany will decrease by 1.9%, 18.5%, 11.5% and 18.6% respectively compared with the previous year. Due to the strong overall market resilience and good epidemic control, China’s automobile sales are less affected than other countries.

In the short and medium term, the sales volume of passenger cars will basically be capped in 2018; Car sales showed signs of marginal recovery during the year.According to the data of generalized passenger cars, the total sales volume of generalized passenger cars in 2018-2020 was 22.739 million, 21.015 million and 19.59 million. After the sales volume of passenger cars peaked in 2018, the market shrank obviously. Judging from the high-frequency data, the cumulative sales volume of generalized passenger cars from January to October in 2021 was 16.411 million, which exceeded the total sales volume in 2020 (15.16 million) after the outbreak of the epidemic, slightly lower than that in 2019 (16.877 million) before the epidemic, and automobile sales showed signs of marginal recovery.

According to the seasonal fluctuation, the sales volume of generalized passenger cars will reach more than 20 million in 2021.Under normal circumstances, the annual automobile sales fluctuate seasonally, and the sales volume in the first quarter to the fourth quarter is usually "high-low-low-high". During the autumn auto show in the third quarter, automobile sales began to increase in volume, and the impact of dealer sales at the end of the year superimposed consumers’ demand for car purchases for the New Year. The fourth quarter or the first quarter is usually a one-year sales peak. Due to the seasonal fluctuation of automobile sales in the whole year, we selected the three years before the outbreak as samples, and set January of each year as the benchmark to observe the three complete annual samples of January-December 2017, January-December 2018 and January-December 2019. According to the results, it can be seen that the sales volume of generalized passenger cars in each month of the year does have obvious periodic fluctuations compared with the multiple of January each year. We can get the seasonal factor of automobile consumption by averaging the three-year samples, and calculate the sales volume of passenger cars in November and December through the seasonal factor. According to estimates, the sales volume of generalized passenger cars in 2021 is expected to reach more than 20 million.

The passenger car market has entered an active destocking cycle.Compared with other consumer goods, cars have two obvious characteristics, so they have the conditions to produce inventory cycles. First, the automobile production process is characterized by "heavy industry". Automobile manufacturers have huge production lines, large capital investment and long cycle span of increasing or decreasing production capacity; Second, the sales model is relatively special. Most of China’s automobile sales adopt 4S mode, and the overall inventory of dealers and manufacturers is biased, so it takes a long time to increase or decrease the inventory. Under the action of these two characteristics, the gap between supply and demand in the automobile market will take a long time to repair, which will produce obvious fluctuations, thus leading to periodic changes in inventory. According to our division of automobile inventory cycle, China’s automobile industry has been in an active destocking cycle at the end of 2021 (that is, the total demand is reduced, and dealers and manufacturers take the initiative to clean up the backlog of inventory). With the confirmation of the bottom of demand, the automobile industry will reopen the new cycle of demand recovery, and the industry will experience a passive destocking cycle (the total demand is picking up, and the squeezed inventory is digested by the market), and the overall demand will pick up, or it will show a high degree of prosperity, which will benefit traditional automobile enterprises under the logic of "consumption".

The opportunity to start a new cycle is the recovery of automobile demand, but it takes time for the economy to warm up and wait for the arrival of a new boom cycle.The delay of epidemic situation, automobile consumption and chip shortage aggravated the fluctuation of inventory cycle. On the one hand, the demand for the epidemic backlog was basically released in the second half of 2020 and the beginning of 2021, so the car sales began to fall in the third quarter compared with the same period of last year. On the other hand, the shortage of chips leads to the shortage of inventory, which leads to the continuous low inventory. The sluggish domestic demand and the overlapping inventory cleaning have aggravated the fluctuation of the active destocking cycle, and the demand inventory has both declined, making it difficult for the new cycle to rise. It still takes time for sales to pick up now, and the new cycle must wait for the economy to take the lead in picking up. Under optimistic expectations, the bottom of demand may be confirmed in the fourth quarter of this year.

(2) New energy: From policy-driven to market-driven, the penetration rate of new energy vehicles in China is close to 20%.

The new energy vehicle market is basically mature, and gradually enters the policy exit period, and the industry officially turns from policy-driven to market-driven.Looking back on the development history of new energy vehicles in China, the gradual popularization of electric vehicles in China has gone through many different development periods. First, in the lead-in period, the new energy vehicle industry was launched by the Ministry of Science and Technology, the Ministry of Finance, the National Development and Reform Commission, and the Ministry of Industry and Information Technology in 2009, which released the "Demonstration and Application Project of 1000 Energy-saving and New Energy Vehicles in Ten Cities", that is, the policy popularization of electric vehicles in the government (G) and large enterprises (B) was completed through financial subsidies, with the aim of making the operation scale of new energy vehicles in China account for 10% of the automobile market share by 2012. Second, in the growth period, that is, the subsidy-driven stage, through financial subsidies to individual users’ consumption terminals and a loose purchase restriction policy, new energy vehicles will be gradually popularized from B-end and G-end to individual users’ C-end. Third, the maturity period, that is, the development of the field after the subsidy retreats from policy-driven to market-driven. At the beginning of 2019, the four departments jointly issued the Notice on Further Improving the Financial Subsidy Policy for the Promotion and Application of New Energy Vehicles, and the new energy subsidies retreated by 50%. "Cheating" no longer exists, and new energy automobile enterprises have undergone a major reshuffle. Fourth, the market-driven stage. Now, with the advent of the post-subsidy era, the new energy vehicle market has completed the passive cleaning after the subsidy decline, and has officially transitioned from subsidy-driven to market-driven. So far, it has developed into a strategic emerging industry with a large scale, a high degree of marketization and a relatively complete industrial chain development. In 2021, the total sales volume of new energy vehicles is expected to exceed 2.8 million, and the monthly penetration rate is close to 20%, which will also become the first year of policy support and market-driven differentiation.

Although the total automobile consumption is capped in the short term, the new energy vehicle market is hot, with the penetration rate of new energy vehicles approaching 20% in a single month and the annual sales volume expected to exceed 2.8 million.According to the data of China Automobile Association, the market penetration rate of new energy vehicles in 2017, 2018, 2019, 2020 and 2021 (January-October) was 2.31%, 4.45%, 4.95%, 5.96% and 14.23% respectively. In August, September and October of 2021, the market penetration rate of new energy vehicles was 19.78%, 19.47% and 18.24% respectively, and the penetration rate of new energy vehicles in a single month approached 20%; According to the calculation, taking the data of 2019 before the epidemic as the seasonal fluctuation benchmark, we predict that the sales volume of new energy vehicles in 2021 is expected to exceed 2.8 million.

(3) Structure: the rise of independent brands will boost the high prosperity of the new energy vehicle market.

From the category of new energy vehicles, electric vehicles are still the absolute main force; The policy side of hydrogen energy vehicles began to exert its strength.From the perspective of technology path, according to the data of China Industrial Information Network, the current (2020) market share of various technology paths is pure electric (BEV) > common hybrid (HEV) > plug-in hybrid (PHEV) > > fuel cell; Among them, the annual sales of ordinary hybrid, plug-in hybrid, electric and fuel cell powered passenger cars in 2020 are 244,261, 245,157, 955,541 and 0 respectively, with corresponding market shares of 1.23%, 1.23%, 4.81% and 0.00% respectively, and electric vehicles are still the absolute main force. Due to the high use cost of hydrogen fuel cell vehicles, insufficient popularity of hydrogen refueling stations, insufficient strength of self-owned brand hydrogen vehicles and other factors, the sales volume of hydrogen fuel cell passenger cars has been almost zero since 2015, and the market of hydrogen fuel cell passenger cars has not been officially launched so far. However, according to the "Technology Roadmap for Energy-saving and New Energy Vehicles", it is estimated that by 2035, the number of hydrogen fuel cell vehicles will reach about 1 million, and commercial vehicles will take the lead in realizing hydrogen power transformation. According to the data of China Automobile Industry Association, the actual number of hydrogen fuel cell vehicles in China from 2015 to 2020 is 0, 10, 639, 1911, 3438, 6175 and 7352 respectively. If the number of fuel cell vehicles reaches 1 million in 2035, the GAGR of hydrogen energy vehicles will reach 38.8% from 2020 to 2035.

Entry-level and mid-range new energy vehicles dominate the market.From the market share of new energy vehicles at all levels, the order is A (compact car) > B (medium car) > A00 (mini car) > A0 (small car) > C (medium and large car). From the trend point of view, in the past two years, A00 (mini-car) and B (medium-sized car) have grown rapidly, which is contrary to the "two poles" situation of high-end and low-end car sales of fuel vehicles. The polarization of market demand for fuel vehicles mainly comes from the fact that the upgrading of automobile consumption in first-and second-tier cities drives the sales of high-end cars and luxury brands to rise, and the popularity of automobile consumption in rural areas drives the market share of low-end and functional passenger cars to soar. The consumers of new energy vehicles are mostly concentrated in the first-and second-tier cities where the charging infrastructure is relatively complete and there are restrictions on the purchase of fuel vehicles. Therefore, the functional demand when buying a car has become the main consideration, which has driven the sales of A00 low-cost new energy vehicles to rise; At the same time, because the leading models of major manufacturers in the market are concentrated in A-class (compact car) and B-class (medium car), the high-end market of electric vehicles has not been favored and recognized by high-end consumers on a large scale, and mid-range cars dominate the market.

With the strong rise of independent brands, the competition among waist manufacturers tends to be fierce.In terms of car companies, the top five car companies in terms of sales of new energy vehicles (including BEV and PHEV) from January to October in 2021 are BYD (410,801 vehicles), Tesla (349,397 vehicles), SAIC-GM-Wuling (341,757 vehicles), SAIC-GM-Wuling (133,911 vehicles) and Great Wall Motor (977 vehicles). From the perspective of market concentration, from January to October in 2019, 2020 and 2021, the automobile sales CR5 of new energy automobile enterprises were 59.5%, 49.1% and 56.6%, respectively, showing a downward trend, and the competition among waist manufacturers became fierce.

The second part: carding

(1) Complete vehicle: High-quality vehicles are concentrated on the stage, which will boost the sales of new energy vehicles at the micro level.

Tesla’s status remains the same, and BYD’s performance is eye-catching, and both of them occupy the main market share.According to the data of the Federation, the top five sales of pure electric vehicles (BEV) from January to October 2021 were Wuling Hongguang MINI EV(325166 vehicles), Tesla Model 3(216583 vehicles), Tesla Model Y(132814 vehicles) and BYD Han EV(66867 vehicles). The top five sales of plug-in hybrid vehicles (PHEV) are BYD Qin PLUS DM(78316 vehicles), BYD Song DM(49291 vehicles), BYD Tang DM(31439 vehicles), BYD Han DM(24256 vehicles) and MG eHS(20344 vehicles).

2021 is the year of new energy automobile products, with low total price and high performance products frequently.The appearance of high-quality vehicles explains the phenomenon of high permeability of new energy vehicles in 2021 from the micro level. In 2021, Wuling Hongguang MINI EV, Tesla Model 3, BYD Qin PLUS BEV and other market-leading products have a longer cruising range, higher configuration and more cost-effective performance at a relatively low price from the perspective of calibrated cruising range.

The profitability of major manufacturers has been repaired well, and the growth rate of GAGR has turned positive in two years.Take BYD (the main products are Han EV and Qin PLUS BEV) and Great Wall Motor (the main products are Euler Good Cat), the Q1-3 performance of BYD in 2019 -2021 is 1.895 billion yuan (GAGR-26.0% in two years), 4.902 billion yuan (GAGR51.1% in two years) and 3.297 billion yuan respectively. Great Wall Motor’s performance was 2.951 billion yuan (GAGR1.0% in two years), 2.587 billion yuan (GAGR-19.2% in two years) and 4.945 billion yuan (GAGR29.4% in two years) respectively. The new energy vehicle market turned to demand-driven, and benefited from the rebound in consumer demand for passenger cars in the post-epidemic period. The net profit of the two major domestic manufacturers turned positive in two years, excluding the low base and high reading effect of the epidemic. The expected growth rate also led to a significant increase in the valuation of related OEMs, achieving a double increase in valuation performance.

(2) Charging pile: The "new infrastructure" boosts the penetration rate of superimposed new energy vehicles, and the track growth is confirmed.

"New Infrastructure" empowers the charging pile track and confirms long-term growth.In recent years, relevant ministries and commissions have continuously paid attention to strengthening the charging infrastructure of new energy vehicles, that is, the construction of charging piles. In 2020, the central government also included it in the hypothetical planning of "new infrastructure" (5G base station construction, UHV, high-speed rail and urban rail transit, artificial intelligence, big data center, industrial Internet, and charging piles for new energy vehicles). With the blessing of the new infrastructure policy, the charging pile market has increased sharply. As a supporting facility for the promotion of new energy vehicles, the charging pile market is expected to usher in a golden period of development.

The private pile mode led by car enterprises and the power station mode led by operators run together, and the market share of private piles is dominant.From the industrial chain, the upstream, middle and downstream links of the charging pile industrial chain and their corresponding modes are as follows: upstream-charging equipment and module suppliers such as Teruide, Guodian Nanrui and Xuji Electric; Midstream-charging station operators such as TELD (Teruide subsidiary), State Grid, Star Charging, etc. purchase charging equipment from upstream manufacturers and charge charging fees for downstream new energy vehicles; Downstream-major new energy vehicle companies, car users can charge from the operators of midstream charging stations, and car companies can also provide charging equipment to car users by purchasing charging equipment from upstream equipment suppliers. From the specific business model, the business model involving charging piles can be divided into two categories. One is the operator-led model, such as State Grid and TEL, which provide charging services to car users by purchasing charging equipment to earn fees; The second is the leading mode of car companies. For example, Tesla and Weilai provide charging pile setting services to car buyers. This mode does not directly generate income for car companies, but can help car companies complete ecological chain integration and improve overall service quality and user experience.

The total construction of charging piles in China is highly correlated with the maintenance of new energy vehicles, and there has been a trend of heavy volume.In terms of total scale, the total construction of domestic charging piles has exceeded 2.5 million units. According to the statistics of China Charging Alliance, the total construction of charging piles in China in 2016, 2017, 2018, 2019, 2020 and 2021 (October) was 204,000, 446,000, 777,000, 1.223 million, 1.672 million and 2.253 million respectively. From the structural point of view, the share of private charging piles has increased significantly. Charging piles can be divided into public charging piles (charging piles set up and operated by charging station operators, shopping malls, office buildings and other entities) and private charging piles (charging piles set up by electric vehicle companies or car owners themselves in personal parking spaces for car owners’ use only). According to the data of the charging alliance, the share of private charging piles (the number of private charging piles/the total number of public and private charging piles) increased from 33.0% in 2016 to 61.1% in 2020, and the share of private charging piles increased significantly. Judging from the specific market structure, taking public charging piles as an example, the top three charging station operators are Star Charging (238,597 units), Special Calls (232,121 units) and State Grid (196,484 units), with obvious head effect.

Based on the "pile-vehicle" ratio, it is conservatively estimated that the charging pile market will have more than five times the space in the next five years.In 2015, the "Guidelines for the Development of Electric Vehicle Charging Infrastructure (2015-2020)" issued by the General Office of the State Council planned that the ratio of "pile to vehicle" would be 1: 1 by the end of 2020, but this value has not yet been realized (only about 34%). By conservative estimation, it is assumed that the number of new energy vehicles will be 20 million by 2025, and the "pile-vehicle" ratio will be 50% by 2025. According to this calculation, the total number of charging piles will reach more than 10 million by 2025, corresponding to GAGR of 43.01%.

Judging from the performance of the capital market, with the demand for charging piles driven by new energy vehicles rising, the valuation and performance of the main related targets have doubled.From the perspective of profitability, the main targets involved in the charging pile industry chain are driven by the increase in the penetration rate of new energy vehicles, and the net profit still maintains a certain growth rate. The corresponding net profit of Guodian Nanrui and Xuji Electric 2021Q3 increased by 24.0% and 19.2% respectively. Teruide is subject to the star charging and the state grid’s run on the market share of its charging pile operator’s special call, and the cost of charging piles in the early stage has increased. The net profit in 2021Q3 was -65.3% year-on-year. However, with the recovery of the early cost of charging piles, the charging station has a high industry prosperity, and its profitability is expected to narrow and stop falling. Judging from the capital market valuation, the PE(TTM) of Teruide, Guodian Nanrui and Xuji Electric increased by 52%, 72% and 83% respectively by the end of November, and the industry growth expectation rose, driving the valuation trend to rise.

 

(1) Power battery: The overall situation has been set, and the leader is always strong, so be alert to the risk of short-term and medium-term valuation callback.

Cathode material is that core factor to distinguish the performance of pow battery products. Our common secondary lithium batteries mainly rely on the back-and-forth intercalation and deintercalation of lithium ions between the positive and negative electrodes to realize energy storage and release. From the perspective of composition and structure, lithium-ion batteries are mainly composed of four parts: first, the cathode material is the key to determine the performance of power battery products, accounting for 30% to 40% of the cost of lithium-ion batteries (GGII data), which directly affects the energy density and performance of lithium battery packs. Common cathode materials include lithium cobaltate, lithium manganate, Ferrous lithium phosphate and ternary materials; Second, the negative electrode plays the role of energy storage and release. At present, the negative electrode material is mainly graphite, which accounts for a relatively low proportion in the cost of lithium battery, and the technical barrier is slightly lower than that of the positive electrode. The third is the diaphragm. The main function of the diaphragm is to separate the anode and cathode of the battery, and it has electronic insulation while maintaining ionic conductivity, so as to realize the mechanical isolation of insulation between the anode and cathode. Fourthly, electrolyte, which plays the role of transporting charge between positive and negative electrodes, affects the energy density, power density, wide temperature application, cycle life, safety performance and other factors of lithium battery pack.

From the structural point of view, lithium iron phosphate batteries are rising rapidly. It is estimated that the total installed capacity of power batteries will increase by about 35% in 2022.In terms of market volume, the total installed capacity of various power batteries from January to October in 2021 was 107.45GWh, an increase of 168.1% compared with 40.07GWh in the same period in 2020. From the perspective of demand structure, lithium iron phosphate battery and ternary material battery are divided into two markets, accounting for almost all the market share. From January to October 2021, the installed capacity of ternary material and Ferrous lithium phosphate was 54.05GWh and 53.21GWh respectively, and the ternary material/Ferrous lithium phosphate ratio was 1.02 (from January to October 2020, the ratio was 2.11), benefiting from lower cost and technological upgrading (BYD blade battery). Through the calculation of the growth rate of electric vehicles, assuming that the total passenger car market remains unchanged in 2022, the total installed capacity of power batteries in 2022 can reach 35.14% compared with that in 2021, based on the 20% penetration rate of new energy vehicle sales in 2022 (the value is about 14.8% in 2021).

The competition pattern of manufacturers tends to be stable, and the head effect is obvious.According to the data of China Automotive Power Battery Industry Innovation Alliance, in the first three quarters of 2021, the top ten enterprises in China’s power battery loading capacity were Contemporary Amperex Technology Co., Limited, BYD, AVIC Lithium Battery, LG New Energy, Guoxuan Hi-Tech, Honeycomb Energy, Yiwei Lithium Energy, Tafel New Energy, Funeng Technology and Jiewei Power. From the perspective of market concentration, the installed pattern of power lithium batteries is concentrated in head manufacturers such as Contemporary Amperex Technology Co., Limited and self-supply core manufacturers such as BYD. According to the data of China Automotive Power Battery Industry Innovation Alliance and GGII, the market concentration of power lithium battery manufacturers in CR10 will be 74%, 84% and 93% respectively. Among them, the power lithium battery manufacturer CR10 jumped from about 81% three years ago to 93%, and the CR10 in 2018 -2020 was 83%, 88% and 93% respectively. In the first three quarters of 2021, a total of 54 power battery enterprises in China’s new energy vehicle market achieved vehicle loading facilities, 10 fewer than the same period of last year. The vehicle loading capacity of CR3, CR5 and CR10 power battery enterprises was 67.2GWh, 77.0GWh and 84.4GWh respectively, accounting for 73.0%, 83.6% and 91.7% of the total vehicle. With the further promotion of the marketization process of the new energy automobile industry, the concentration of power battery manufacturers has gradually increased, and the market concentration has gradually increased, and the trend of further marketing is very obvious. In the post-subsidy stage, the advantages of technical barriers and bargaining power are gradually highlighted.Heading trend of power lithium battery manufacturers will be further established. The first is the issue of technical barriers. From the technical point of view, the dispute between lithium iron and ternary is getting more and more fierce. With the division of lithium battery technology path, the stratification of manufacturing and technical level, which is beneficial to the development of head enterprises, the Matthew effect of manufacturers will be further highlighted. The second is the issue of supplier control. Due to the obvious phenomenon of headedness of power lithium battery manufacturers, the head manufacturers have a high degree of market monopoly, and have stronger bargaining power with upstream suppliers of anode and cathode materials, separators and even raw materials, which can realize a profit margin much larger than that of small and medium-sized manufacturers, and aggravate the trend of headedness of market competition pattern.

The supply chain pays attention to the demand of leading new energy vehicle companies.Head lithium battery manufacturers have strong bargaining power upstream and downstream, but the total demand for short-term and medium-term power lithium batteries of sub-head manufacturers comes from downstream OEMs, so the fundamentals of upstream battery suppliers of leading new energy vehicle enterprises are more supported. According to the annual reports of companies, First Electric Network, MarkLines and other data, according to the battery supplier information of Tesla, BYD, Tucki, Weilai, Toyota, BMW, Volkswagen, Geely and Guangzhou Automobile, Contemporary Amperex Technology Co., Limited (8), BYD (2), Guoxuan Hi-Tech (1), Yiwei Lithium Energy (2) and Funeng Technology (1).

The technical side pays attention to BYD blade battery technology and Contemporary Amperex Technology Co., Limited CTP(Cell to Pack) technology to drive enterprise battery loading capacity.Under normal circumstances, ternary batteries have strong endurance, but the raw material of ternary batteries is cobalt, but the main origin of cobalt comes from Congo and the market is in a monopoly position. Due to the unstable supply of cobalt, its price is high, which drives the cost of ternary materials to be high. However, the cost of lithium iron phosphate battery is relatively low and the safety factor is higher, but the energy density is damaged in winter due to poor low temperature resistance.Contemporary Amperex Technology Co., Limited scheme-CTP (cell to pack) reduces the manufacturing cost of ternary batteries.Generally, the battery Pack carried on an electric vehicle is assembled into a Module by cells, and then assembled into a battery pack, while CTP(Cell to Pack) is that the cells are directly integrated into the battery pack, thus eliminating the intermediate module link, increasing the energy density and reducing the manufacturing cost. According to the data disclosed by the information platform of Cheyan Society, the large integrated module based on 21700 adopted by Tesla Model 3 has reduced the battery cost by 35% compared with the previous one, and Contemporary Amperex Technology Co., Limited CTP technology has the same effect.BYD’s plan-blade battery commission to improve the energy density of lithium iron phosphate battery.BYD’s blade battery research and development is based on lithium iron phosphate battery. The traditional battery mode is mostly cylindrical, and more gaps will be formed after the single batteries are stacked, and then the space utilization rate can only reach more than 40% except for the supporting cooling and supporting components. The flat blade battery can reduce the invalid gap between single cells, and the space utilization is as high as 60%, and the energy density is improved. At the same time, the increase of surface area can also play a greater role in heat dissipation.

The capital market is wary of the risk of short-term and medium-term valuation callback.In the short and medium term, the technology growth track, especially the new energy vehicles, power batteries and other industries and tracks, has accumulated a lot of gains. The track has been relatively crowded, and the fundamentals of many leading companies are strong, but the historical valuation water level is close to 80% or even more than 90%. Once the internal liquidity is not too loose and the external liquidity is slightly tightened, there may be a valuation market, and the risk is very worthy of attention.

(2) Motor: Self-made motors by leading car companies will become the mainstream, paying attention to new concepts and technologies such as hub motors.

Benefiting from China’s rare earth resources reserves, permanent magnet synchronous motors have become the mainstream of the market with high output and low cost.According to the technical scheme, common motors include DC motor, AC asynchronous motor and permanent magnet synchronous motor. Among them, DC motor is a direct-driven motor with relatively simple structure and good electromagnetic torque control characteristics, but it is easy to produce electric sparks on the commutator surface at high speed and heavy load, which is easy to produce electromagnetic interference. It is relatively common in the early development of electric vehicles and has been basically eliminated at present. Ac asynchronous motor is a motor that puts the rotor in a rotating magnetic field to get the rotating torque to drive the rotor to rotate. AC asynchronous motor is small in size, light in weight and low in price. However, under the condition of high-speed operation, the rotor of the motor is seriously heated, so it is necessary to ensure the motor to be cooled when working. At the same time, the drive and control system of asynchronous motor is very complicated and the cost of the motor itself is high, so it is mainly used in high-power electric commercial vehicles. Permanent magnet synchronous motor (PMSM) is a synchronous motor that uses permanent magnets to establish the excitation magnetic field, which has a higher (power/mass) ratio, smaller volume and lighter weight. However, the production of rare earth PMSM requires rare earth materials, and the manufacturing cost is not stable. However, thanks to the relative abundance of rare earth resources, China prefers to use permanent magnet synchronous motor as the driving scheme for electric vehicles, and this path has become the most widely used motor scheme for electric vehicles today.

The total amount of motor loading will benefit with the increase of electric vehicle sales; It has become a trend for leading car companies to produce their own motors for their own use, which has squeezed the market share of waist and tail motor manufacturers.From the perspective of the total market size, the penetration dividend of new energy vehicles has driven the demand for motors to pick up. According to EVTank’s calculation data, it is estimated that the installed capacity of driving motors for new energy vehicles in China will reach 2.983 million units in 2021, up by 103.90% year-on-year, and the shipment of driving motors for new energy vehicles in China will exceed 10 million units by 2025. From the perspective of competition pattern, the replacement of domestic motors by mainstream car companies is just at the time, and the self-production and self-use of leading car companies has become a trend. According to the data disclosed by EVTank, BYD Motor’s market share will be 13.2% in 2020, ranking first; Tesla Motor’s market share is 9.9%, ranking second; Founder motor’s market share is 6.7%, ranking the top three; The market shares of Weiran Power, Ningbo Shuangxiu, Volkswagen, Nippon Denso, Borg Warner, Jinjing Electric and Shanghai Electric Drive have squeezed into the top ten in China, with market shares of 6.0%, 5.9%, 5.2%, 5.1%, 4.0%, 3.4% and 3.0% respectively.

The growth rate of the total number of tracks is still there, but under the trend of self-made motors by head car companies, non-head manufacturers are basically facing difficulties, so they should be alert to the risk of market share crowding out.From the perspective of the total market, the growth dividend of new energy vehicles is superimposed on the "double electric four-wheel drive" to release motor demand and boost the overall fundamental improvement of the industry. At present, the market share of new energy vehicles is Class A (compact car) > Class B (medium-sized car) > Class A00 (mini-car) > Class A0 (small car) > Class C (medium-sized car). Due to the rapid growth of Class B (medium-sized car), "double motors+four-wheel drive" has become the mainstream configuration, and doubling the demand for motors is expected to boost the high prosperity of the motor market. However, from the structural point of view, although the total motor market has great expansion potential, its market share is mainly occupied by self-made motors owned by head enterprises such as BYD, Tesla and Weilai. According to statistics and forecast data of EVTank, the market size of driving motors for new energy vehicles in China will be about 7.464 billion yuan in 2020. According to the market structure in 2020, the theoretical upper market share limits of Founder Motor and Precision Electric are 500 million and 254 million respectively, and there is little room for waist and tail motor enterprises, which basically faces a deep gap. At the same time, benefiting from the high sentiment of the market for the industrial chain of new energy vehicles, the relevant targets have accumulated a lot of gains in 2021, and the risk of market correction of waist and tail motor enterprises is worthy of attention.

Hub motor-a new concept technology deserves attention, and at the same time, we should be alert to the risk of technical path.Hub motor is a system that integrates the power system, transmission system and braking system of the car into the hub. On the one hand, the application of in-wheel motor can simplify the structure of the vehicle to the greatest extent, save more space and weight, and reduce the maintenance cost caused by complex mechanical structure. On the other hand, if each wheel of the vehicle is equipped with a hub motor, each tire can be driven independently, thus realizing a variety of complex driving modes. The differential lock and full-time four-wheel drive system of the traditional fuel vehicle will no longer have any advantages, so the hub motor has strong application value for special vehicles. However, at the same time, the hub motor increases the moment of inertia of the unsprung weight and the hub, which affects the vehicle handling performance. The physical space occupied by the hub motor system is too small, which leads to limited acceleration and braking performance. In addition, the hub motor system also has high requirements for sealing and heat dissipation. Therefore, it is also worthy of vigilance against the risk of technical path. We should adhere to the idea of early investment and implement the investment of the hub motor track. If the technical path is correct, we will win all, and if the path is wrong, we will lose all. As the hub motor technology is still not the mainstream path in the world, there are few domestic manufacturers. However, companies such as Asia Pacific, Wanan Technology and Tate Electromechanical Co., Ltd. have successively cooperated with international manufacturers to rapidly promote the development and application of hub-driven motors in new energy vehicles, among which Wanan Technology and Tate Electromechanical Co., Ltd. have successively withdrawn or been acquired.

(1) positive electrode: the core of lithium battery performance, Sanyuan and Ferrous lithium phosphate market achieve differentiated competition.

Cathode material is one of the key materials to determine the performance of lithium ion batteries.Cathode material has always been the core of lithium-ion battery, and the choice of cathode material directly determines the performance of the battery. The common cathode materials are mainly oxides, which have higher electrode potential than lithium and can ensure a higher open circuit voltage of the battery. From the cost point of view, the power battery is one of the most expensive integrated components of the whole vehicle, and the cathode material accounts for about 40% of the cost of lithium batteries. Whether from the cost point of view or the technical point of view, the cathode material is the core of lithium batteries. Because cathode materials have a great influence on battery performance, major manufacturers have long been committed to developing cathode materials with higher performance based on different technical solutions. Common cathode materials for lithium batteries mainly include lithium ternary (NCM), Ferrous lithium phosphate (LFP), lithium cobaltate (LCO) and lithium manganate (LMO). After years of technical path iteration, LFP and NCM now occupy almost all the market share of power batteries for new energy vehicles.

Ternary materials-"high nickel" is the development trend of ternary cathode materials, and "medium nickel ternary" is still the mainstream in the market at present.Ternary material is the common name of lithium-nickel-cobalt-manganese oxide with a very similar structure to lithium cobaltate. Among them, nickel, cobalt and manganese can be balanced and regulated in terms of specific energy, recyclability, safety and cost. The different configuration of nickel, cobalt and manganese will bring different properties to the material: the increase of nickel content will increase the capacity of the material, but it will make the cycle performance worse; The existence of cobalt can make the material structure more stable, but too high a content will reduce the capacity. At the same time, the main source of cobalt is Congo, and the market is in a monopoly position, which is subject to the unstable supply of cobalt, resulting in higher costs. The existence of manganese can reduce the cost and improve the safety performance, but if the content is too high, it will destroy the layered structure of the material. Therefore, it is the focus of ternary material research and development to find the proportion relationship of the three materials to achieve the optimization of comprehensive performance.

According to the proportion of nickel, cobalt and manganese, the common ternary cathodes in the market at present can be divided into NCM523, NCM622, NCM811 and other types (the last three digits represent the proportion of nickel (n), cobalt (c) and manganese (m) respectively, for example, the proportion of nickel, cobalt and manganese in NCM523 is 5: 3: 2). NCM523, which accounts for 30.8% of nickel, is called "middle nickel ternary". Similarly, NCM622 and NCM811 have nickel contents of 37.3% and 50.7% respectively, which can be called "middle high nickel ternary" and "high nickel ternary". Because the mass proportions of nickel, cobalt and manganese are different, the performance of the above-mentioned ternary cathode materials also has its own advantages and disadvantages. For example, NCM523 has a low energy density, but the overall cost performance is high; NCM811 has obvious advantages in energy density, but the process threshold is higher and the manufacturing is more difficult. Therefore, in terms of market share, NCM523 with higher comprehensive cost performance accounts for a larger market share. According to Xinyi information data, the market share of ternary cathode corresponding to NCM523, NCM622 and NCM811 will be 53%, 20% and 22% respectively in 2020.

Ferrous lithium phosphate-low cost+low performance = high cost performance. The way to break the situation in Ferrous lithium phosphate lies in technological breakthrough.Ferrous lithium phosphate is one of the most commonly used lithium ion cathode materials besides ternary materials. Compared with ternary cathode, it has better safety and lower production cost, but the corresponding battery energy density is lower and the battery attenuation is more serious in winter. Ferrous lithium phosphate’s theoretical specific capacity is 170mA/g, and its voltage platform is 3.7V V. It has good thermal stability, small hygroscopicity and excellent charge-discharge cycle performance in a fully charged state, and the superimposed manufacturing cost is low, which has become the focus of research and production development in the field of power lithium-ion batteries except ternary materials. However, due to the limitation of its own structure, the lithium ion battery with LiFePO4 as cathode material has poor conductivity, slow lithium ion diffusion rate, poor discharge performance at low temperature and low energy density. As a representative of "low cost+low performance", lithium iron phosphate batteries have long been used in low-end and cost-effective vehicles. Nowadays, BYD blade batteries have been installed on Han EV and other vehicles. The length of blade batteries is more than 0.6m, and they are arranged together in an array and inserted into the battery pack like "blades". On the one hand, it can improve the space utilization rate of the power battery pack and increase the energy density. On the other hand, it can ensure that the battery cell has a large enough heat dissipation area to conduct the internal heat to the outside, thus matching a high energy density. Blade battery has achieved relatively higher energy density and relatively moderate manufacturing cost through module-free integration, while taking into account other performances such as heat dissipation.

A00-class cars pull Ferrous lithium phosphate, while middle and high-end cars pull ternary materials. The two cars realize differentiated competition, and the market share game will continue.Judging from the total market share, ternary material positive battery and Ferrous lithium phosphate positive battery occupy almost all of the market share. According to the data of China Automobile Power Battery Industry Alliance, the number of vehicles loaded with ternary material positive battery and Ferrous lithium phosphate positive battery reached 54.05GWh and 53.21GWh respectively from January to October 2021, which increased by 100.1% and 316.4% respectively compared with the same period last year (the first October), and the growth rate was very rapid. At the same time, Ferrous lithium phosphate performed better, and its market share increased rapidly. The ratio of installed capacity (ternary material positive battery/Ferrous lithium phosphate positive battery) decreased from 2.11 in the same period last year to 1.02 this year. Our explanation for this phenomenon is that medium nickel ternary is commonly used in A-class cars, high nickel ternary is commonly used in B-class and C-class cars, while Ferrous lithium phosphate is mainly used in A00-class mini-cars. By comparing the market share of ternary and C-class new energy vehicles, it can also be confirmed that the market share of Ferrous lithium phosphate and A00-class cars is highly correlated, and the market share of Ferrous lithium phosphate is equally highly correlated. Therefore, the lithium iron phosphate battery benefited from the mini-car becoming the main force in the electric vehicle market, and the overall prosperity increased significantly, quickly seizing the market share. However, in essence, the overlap between the target users of ternary material positive battery and Ferrous lithium phosphate positive battery is still not high, and the market of the two batteries has achieved misplaced development, so the installed capacity of the two batteries will continue to be high in the future.

Positive head continues to gather, paying attention to Contemporary Amperex Technology Co., Limited supply chain.Judging from the competition pattern, the market share of ternary cathode and Ferrous lithium phosphate cathode continues to move closer to the head. According to the data of GGII, Xinyi Information, lithium research and so on, the top ten manufacturers of cathode materials in 2020 are German Nano (Ferrous lithium phosphate, 9%), Rongbai Technology (ternary materials, 8%), Betray (Ferrous lithium phosphate, 8%), Guoxuan Hi-Tech (Ferrous lithium phosphate, 6%) and Tianjin Ba Maw (ternary materials, 6. Due to the obvious head effect of power battery, according to the data of China Automotive Power Battery Industry Innovation Alliance, GGII and other institutions, the market concentration of power lithium battery manufacturers in 2020 is 74%, 84% and 93% respectively, and the supply chain enterprises of head manufacturers such as Contemporary Amperex Technology Co., Limited (with a global market share of 29.9% in 2021H) and BYD are worthy of attention.

(2) Negative electrode: pay attention to the profit increase caused by the capacity gap in the short term, and pay attention to the non-carbon material leader in the long term.

Artificial graphite is the main material used as the negative electrode of power lithium battery.The negative electrode is the carrier of lithium ions and electrons in the battery charging process, which plays the role of energy storage and release. Therefore, the following factors must be taken into account when selecting the negative electrode material: first, the material selected as the negative electrode must meet the requirement that the redox potential of lithium ions in the negative electrode matrix is as low as possible; second, the intercalated compound should have good electronic conductivity and ionic conductivity, and the intercalated compound has good chemical stability in the whole voltage range, so as to ensure that the battery can maintain higher energy density and stability while operating normally. From the classification of elements, we can divide the existing anode materials into two categories: carbon materials and non-carbon materials, in which the carbon materials include graphite materials (natural graphite, artificial graphite and mesophase carbon ball) and other carbon systems (hard carbon, soft carbon and graphene). Non-carbon materials can be subdivided into titanium-based materials, silicon-based materials, tin-based materials, nitrides and metallic lithium. Compared with other materials, artificial graphite is the mainstream choice in the market because of its good cycle performance, superior safety, mature technology, easy access to raw materials and low cost. According to information disclosed by GGII, the market share of artificial graphite products will reach 84% in 2020. Other anode materials, such as silicon-based anode, failed to achieve the expected growth due to the switch of main shipment models of domestic cylindrical battery products and the delay in upgrading the high-nickel system of square power batteries, and the market share declined.

Graphitization accounts for the largest proportion in the manufacturing process, and graphitization of electricity price is the main cost. It is estimated that the power consumption cost per ton of artificial graphite cathode is as high as 8750-10500 yuan.The traditional artificial graphite process is divided into four parts: first, pretreatment, that is, according to different products, graphite raw materials and asphalt are mixed in different proportions, put into an air flow mill for airflow milling, and the raw and auxiliary materials with a particle size of 5-10 mm are milled to 5-10 microns. The second is granulation, that is, the middle is put into the reaction kettle, which is electrically heated according to the temperature curve. After that, the volatile gas in the reaction kettle is pumped out by the fan, condensed by the condensation tank, and the liquid phase is condensed in tar form. The gaseous waste gas is led out by the fan, filtered by activated carbon and evacuated. The third is graphitization-graphitization of the granulated materials. Usually, this step adopts outsourcing mode, which is the main cost in the whole production process. Fourthly, ball milling and screening: the graphitized materials are transported to a ball mill through vacuum, physically mixed and ball milled, screened with a 270-mesh molecular sieve, and the undersized materials are inspected, measured, packaged and put into storage. The traditional manufacturing industry of artificial graphite anode materials has a heavy attribute, and the cost mainly lies in the upstream labor cost and electricity charge. According to Shanhe Intelligent Announcement, the power consumption of crucible Acheson furnace, box furnace and continuous graphite furnace is about 10,000-12,000 kWh/ton, 7,000-8,000 kWh/ton and 5,500 kWh/ton, and the current industrial electricity charge is 1.025 yuan /kWh in peak hours and in normal periods.The power consumption cost of Qi’s corresponding production process is 8750-10500 yuan/ton, 6125-7000 yuan/ton and 4813 yuan/10,000 tons respectively. If the annual production capacity is 10,000 tons, the annual cost of pure electricity for the preparation of artificial graphite is about 87.5 million to 105 million yuan.

The scale of domestic enterprises is "going out to sea", and the competitive situation of manufacturers is still there.From the perspective of domestic market structure, according to the data disclosed by GGII, in 2020, the top five domestic companies in the market share of anode materials for power lithium batteries are Betray (China market share is 20%), Shanshan (16%), Putailai (17%), Kaijin Energy (13%) and Xiangfenghua (7%), and domestic market manufacturers present "three big and many small" competition. According to GGII data, the top five companies in the global market share of anode materials for power lithium batteries in 2020 are Putailai (global market share 12%), Betray (10%), Shanshan (10%), Kaijin Energy (7%) and Pohang (5%), and the scale of China enterprises is "going out to sea". As the negative electrode material has not yet entered the technological innovation cycle, the barriers to participation are mainly production capital, and the technical barriers are lower than those of the positive electrode material and the power lithium battery in the downstream of the industrial chain, so the competitive situation of manufacturers is still there.

Short-term attention to limited production capacity will boost the profit growth of head enterprises, and long-term attention will be paid to the long-term growth of non-carbon materials.On the one hand, in a short period of time, the state has increased the policy of double control of energy consumption, and strictly controlled projects with high energy consumption and high emissions. Under the system of "double control" of energy consumption, high-energy industries such as graphitization of anode materials bear the brunt. Taking Inner Mongolia as an example, it is stipulated that the profiling equipment, roasting equipment and production line of ordinary and high-power graphite electrodes in the autonomous region, and the production line of graphite electrodes below 600 mm in diameter will all be withdrawn in principle before the end of 2021, so the production capacity of artificial graphite negative electrodes will decrease in the short term. At the same time, because the graphitization process in the production process of artificial graphite anode is mostly outsourced, manufacturers with high market share and high self-sufficiency in graphitization process will benefit from this under the negative electrode capacity gap. On the other hand, although the large-scale production technology of artificial graphite is quite mature, its current technical conditions are close to its theoretical specific capacity of 372mAh/g, which is difficult to meet the market demand for large-capacity lithium-ion batteries. At present, carbon-silicon anode materials have not been applied in a large scale, and the development of silicon-based anode technology of most manufacturers is still in the conceptual stage. However, from a long-term perspective, new technologies such as silicon-based anode with higher gram capacity are worthy of attention.

(3) Diaphragm and electrolyte: The era of solid-state batteries is far from over, and there is still the last journey of demand.

It is difficult for solid-state batteries to have an impact on the diaphragm and electrolyte market in a short period of time.In the current lithium battery technology path, liquid lithium ion batteries occupy the mainstream. Among them, separator and electrolyte are the key materials of lithium-ion battery. The performance of separator determines the interface structure and internal resistance of the battery, which directly affects the capacity, cycle and safety performance of the battery. The separator with excellent performance is of great use to improve the comprehensive performance of the battery. Electrolyte, as an important medium to ensure that the working ions move at a certain rate between the positive and negative electrodes during the charging and discharging process of the battery, thus forming the whole circuit loop to generate current, also has great influence on the overall operation efficiency and safety of the lithium battery. However, from the technical point of view, the path of solid-state battery is likely to have an impact on liquid lithium-ion battery in the future. The cathode materials used by the two are the same as the cathode materials, and the working principle of the battery is basically the same. However, the liquid lithium-ion battery uses liquid electrolyte, while the solid-state battery is replaced by solid polymer electrolyte, which can play the role of electrolyte and diaphragm at the same time, so electrolyte and diaphragm are no longer needed in the real solid-state battery. Compared with traditional liquid batteries, solid-state batteries have certain advantages in safety performance and energy density. If this technical path is fully realized, it will replace the existing diaphragm and electrolyte market. However, judging from the current development status of solid-state batteries, the technical concept is greater than practical and the production cost is too high. In recent years, it is difficult for solid-state batteries to become the mainstream technical solution in the market, and it is difficult for solid-state batteries to have an impact on the diaphragm and electrolyte market in the short term.

With the high nickel ternary lithium battery path, wet diaphragm manufacturers are expected to usher in a second growth.Lithium battery separators are generally divided into dry process and wet process according to the process. Dry diaphragm is a method to produce high-oriented polypropylene or polyethylene film with low crystallinity by producing hard elastic fiber, and a film with high crystallinity is obtained during high-temperature annealing. Wet diaphragm is to mix liquid hydrocarbon or some small molecular substances with polyolefin resin, heat and melt to form a uniform mixture, then cool down for phase separation, press to obtain a diaphragm, then heat the diaphragm to a temperature close to the melting point, stretch it in two directions to orient the molecular chain, and finally keep the temperature for a certain period of time, and elute the residual solvent with volatile substances, so as to prepare interconnected microporous membrane materials. In terms of physical and mechanical properties, the separator produced by dry uniaxial stretching process has more advantages, but the separator produced by wet production process has higher porosity and good permeability, which can meet the requirements of high current charging and discharging of power batteries and has better performance. At present, most lithium iron phosphate batteries in power batteries use dry separators, while most ternary lithium batteries use wet separators. At present, the demand for wet separators caused by the increase in installed capacity of ternary batteries is increasing, and Ferrous lithium phosphate is upgrading. High-end lithium iron phosphate batteries have a tendency to switch from dry separators to wet separators. Generally speaking, wet separators with relatively good performance will more likely become the mainstream technology path.

The difference of electrolyte products is small, and the competitiveness of manufacturers mainly lies in the bargaining power brought by market share and industrial chain monopoly.As the "blood of lithium battery", electrolyte is used to conduct electrons between the anode and cathode in the battery, which is an important guarantee for lithium-ion batteries to obtain high voltage and high specific energy. According to the data disclosed by Yingcai magazine, according to the cost ratio, the solvent accounts for about 30%, the lithium salt accounts for about 40-50%, and the additive accounts for about 10-30%, among which the solute and solvent costs account for a large part, resulting in a small difference in electrolyte products among manufacturers. Head manufacturers cooperate with many upstream electrolyte manufacturers to ensure the stability of raw material procurement demand. Under the competitive pattern of electrolyte industry with highly concentrated market share, The competitiveness of manufacturers mainly lies in the bargaining power brought by market share and industrial chain monopoly. Head and large suppliers can obtain good business environment and profitability for a long time under the condition of good market prosperity.

Fundamentals run before valuation, and in the pre-solid-state battery era, the market share is large.From a fundamental point of view, the upstream diaphragm electrolyte grew strongly. The GAGR of Enjie, Xingyuan Material, Tianci Material and Xinzhoubang were 66.5%, 4.2%, 315.4% and 90.4% respectively, corresponding to the PE(TTM) increase of -9.4%,-36.3%, -22.7% and-38.7% respectively. Based on the current development status of solid-state batteries, the technical concept is more than practical, and the production cost is too high. In recent years, it is difficult for solid-state batteries to become the mainstream technical solution in the market. In the short term, it is difficult for solid-state batteries to have an impact on the diaphragm and electrolyte market, and attention should be paid to leading upstream manufacturers with large market share.

(1) Hydrogen fuel cell: the market has not moved, the policy moves first, and it runs with electric technology.

The series connection of fuel cell and motor is the core of realizing hydrogen energy power for automobile.Fuel cell is an energy conversion device, which directly converts chemical energy stored in fuel (i.e. hydrogen) and oxidant into electric energy according to the working principle of primary battery. Through the cooperation of hydrogen fuel cell and motor, the automobile can be replenished with hydrogen and converted into electric energy to drive the automobile motor, thus realizing the energy conversion. Compared with the traditional electric vehicle, the fuel cell technology enables the vehicle to retain the advantages of good driving performance and comfortable ride, and also has unparalleled advantages such as fast energy replenishment and long cruising range, which takes into account the advantages of both electric vehicles and traditional power vehicles to some extent.

PEMFC benefits from the hydrogen car market, and its installed capacity occupies a dominant position in all kinds of batteries.Proton exchange membrane fuel cell (PEMFC) refers to a fuel cell solution with platinum-based electrodes using water-based acidic polymer membrane as its electrolyte. PEMFC battery can operate at relatively low temperature and can customize the electrical output to meet the dynamic power demand, so it is the most commonly used battery solution for fuel cell vehicles. Its main advantages are obvious: fast start-up of power generation reaction, low requirements for operating conditions (no need for extreme high temperature), and direct use of air as oxidant (no need to add pure oxygen separately). According to "Review of Fuel Cell Industry 2020" published by E4tech, a website of ERM Group, the installed capacity of various fuel cells in the world will reach 1,318.7 MW in 2020. Among them, PEMFC, DMFC, PAFC, SOFC, MCFC and AFC have market shares of 1029.7, 0.4, 132.2, 147.5, 8.8 and 0.1 respectively, and the corresponding market shares are 78.1%, 0.1%, 10.0%, 11.2% and 0.7% respectively. Among them, PEMFC benefited from the hydrogen car market, accounting for 78.1% of the installed capacity market, and rapidly increased from 341.0 MW in 2016 to 1029.7 MW in 2020.

Domestic fuel cell shipments have increased rapidly, but the overall scale of the fuel cell market is not large due to the small demand for hydrogen energy vehicles.According to the statistical data of monthly database of fuel cell vehicles published by GGII, the installed capacity of hydrogen fuel cell system in China is about 79.2MW in 2020, down 37% year-on-year. Among them, the total installed capacity of hydrogen fuel cell system on buses is about 71.7MW, up 46% year-on-year. At present, the top five domestic fuel cell manufacturers in China are Edelman, Yihuatong, Guohong Remodeling, Exploration Automobile and Weichai Power, respectively, accounting for 20.1%, 15.4%, 11.9%, 11.6% and 10.0% of the market share of shipments, while other manufacturers account for 31.0% of the market share.

Policy overweight, long-term perspective, hydrogen energy technology will be the first alternative path of electric energy.Hydrogen, as an energy source, reacts with oxygen in the air, which brings power to the automobile and only produces water vapor. It is the most ideal emission reduction technology, without worrying about the carbon dioxide emission from the downstream automobile engine to the upstream power generation process, and can better achieve the goals of peak carbon dioxide emissions and carbon neutrality. Therefore, in recent years, the technical path of hydrogen energy vehicles has been strongly supported by national policies. During the two sessions in 2019, hydrogen energy was written into the "Government Work Report" for the first time. Subsequently, the release of the demonstration application policy for fuel cell vehicles and the release of the development plan for the new energy vehicle industry (2021-2035) all injected impetus into the development of the hydrogen energy industry. In addition, in recent years, many provinces and cities have also issued the "Fourteenth Five-Year Plan" to promote the development of hydrogen energy industry. On the whole, hydrogen energy technology will be the first alternative path of electric energy in the future. With the encouragement of policies, the pace of hydrogen energy industrialization is expected to accelerate.

(2) Skateboard chassis: "Four-wheel drive" chassis integration technology is expected to redefine the car.

Skateboard chassis is born out of non-load-bearing body technology, and the car is redefined as "car = chassis+shell", which promotes the computerization of electric vehicle manufacturing.Rivian, recently led by Amazon and Ford, has received extensive attention in the US stock market. After listing, its market value is close to 100 billion US dollars, and it has become the third largest car company in the world after Tesla and Toyota without selling a car. Rivian’s concern mainly comes from its new chassis form-namely "skateboard chassis" technology, which is expected to redefine the car. Skateboard chassis is born out of non-load-bearing body technology, which is a general chassis scheme that can reduce the burden of vehicle development. The main engine factory only needs to make the upper body part, and the lower body part can be stretched into the required adaptive layout by using the characteristics of free adjustment of skateboard chassis, so as to realize "car = chassis+car shell", that is, skateboard chassis manufacturers such as Rivian and Pixmoving integrate all components such as motor, battery, transmission system, electronic control system and suspension system into skateboards. If the skateboard chassis technology is popularized, in the future, the main engine factory will not focus on the development of automobile mechanical properties, but turn to software development and overall product design to promote the computerization of electric vehicle manufacturing technology.

The technical barrier of skateboard chassis is not high, but it is high in market barriers, so we pay attention to the domestic head electric main engine factory.On the one hand, the underlying technology of skateboard chassis is not complicated, mainly because of the integration of battery, motor, electronic control and traditional mechanical parts, and the technical barriers are not high. But on the other hand, contracting the chassis and electrical machinery system of the main engine plant is equivalent to grabbing the profit share from the main engine plant, which is higher in market barriers. Therefore, the skateboard chassis technology will be initiated by BYD and other head electric vehicle main engine plants with battery and electronic control system manufacturing technology in China.

Part III: Prospect.

China’s auto market still has a long-term growth potential under the background of double domestic demand.With the improvement of GDP per capita, the total size of China automobile market will still have some room for development in theory by 2035. As a kind of high-priced consumer goods directly linked to per capita income level and marginal propensity to consume, automobile industry prosperity is highly related to national economic operation. On the premise that infrastructure construction and automobile purchase policy are at the same level, passenger car sales and per capita GDP show a highly positive correlation. According to the data of the World Bank and the International Automobile Manufacturers Association (OICA), we can make a regression analysis on the number of vehicles purchased per capita in the top 20 automobile consuming countries in the world in 2019 and the per capita GDP of each country. There is a strong linear relationship between them, which can be approximately regarded as a positive proportion relationship.

According to Professor Lin Yifu of Peking University, China’s per capita GDP will reach 23,000 US dollars in 2035, so the most optimistic estimate is that there is still about twice the space in China’s automobile market.Adopting a relatively conservative estimation method, we take the per capita GDP of 20,000 US dollars as the expected value of per capita GDP in 2035. If other factors are not considered, the per capita GDP of China will still double by 2035, based on the sales of 25 million passenger cars in 2020. Therefore, in this way, under the most optimistic and ideal conditions, China’s passenger car consumption market will have the potential of 50 million cars per year in 2035. However, this growth space is only a theoretical possibility, and many factors such as purchase restriction, urbanization and infrastructure construction remain to be seen. As some large and medium-sized cities show no signs of greatly relaxing the purchase restriction policy, and the urbanization expansion is gradually slowing down, it is highly probable that the automobile consumption will increase slowly at a slower rate than the economic growth rate in the long run. Therefore, the double growth space of annual automobile sales and the consumption potential of 50 million vehicles can only be regarded as the theoretical limit of the China market by 2035.

According to the road map analysis of industrial planning, the new energy market will account for 50% in 2035, and the annual sales scale of new energy vehicles such as hybrid, plug-in hybrid, electric and hydrogen fuel cells will reach 10 million.According to the contents of the Technical Roadmap of Energy-saving and New Energy Vehicles compiled by the Ministry of Industry and Information Technology in October 2020 and organized by the China Automotive Engineering Society, by 2035, China’s new energy vehicle market will account for more than 50%, energy-saving vehicles will be fully hybrid, and the automobile industry will be electrified. According to the data of China Automobile Association, the market penetration rate of new energy vehicles in 2017, 2018, 2019, 2020 and 2021 (January-October) was 2.31%, 4.45%, 4.95%, 5.96% and 14.23% respectively. In August, September and October of 2021, the market penetration rate of new energy vehicles was 19.78%, 19.47% and 18.24% respectively. Taking the data of 2019 before the epidemic as the seasonal fluctuation benchmark, we predict that the sales volume of new energy vehicles in 2021 is expected to exceed 2.8 million, corresponding to a market share of about 14.8%, and the market share will expand by about three times if the target is 50%. Cars are just like liquor industry, and new energy vehicles are just like sauce wine. The liquor industry peaks with the total amount, but the market share of sauce wine is rising continuously.

From the supply side, China’s passenger car market is now divided into three parts: traditional car companies, new car upstarts and new car-making forces.We divide the OEMs that participate in the China automobile market into three categories. First, traditional car companies, that is, Mercedes-Benz, BMW, Toyota and other traditional car companies with a history of 100 years. At present, traditional car companies are facing various pressures such as technical upgrading and policy constraints, and are seeking electrification or hydrogen energy transformation based on their own years of car-making process accumulation. Second, the upstarts of automobiles, such as Xiaomi, Midea and Huawei, are big names in 3C and home appliances industries, and now they frequently enter the market to build cars. For example, Midea entered the upstream auto parts market in May, 2011. The newly-developed products cover five categories of products in three major systems: assisted (automatic) driving, thermal management and motor driving, including driving motors, electric compressors, electronic water pumps, electronic oil pumps, electronic power steering motors and other parts, and have been applied to the automobile industry of the bureau horizontally according to their own development endowments; Huawei entered the field of intelligent cockpit by building ——Huawei Inside, an in-vehicle system, and opened up its own 3C industrial ecological closed loop through the integration of Huawei HI with HarmonyOS OS operating system. Third, the new forces of car-making, namely, Weilai, Tucki and other emerging domestic and foreign electric vehicle manufacturers, have risen strongly through Internet-style product design.

Traditional car companies and new forces are merging with each other.On the one hand, the three forces have their own advantages, and now they have formed differentiated competition. On the other hand, traditional car companies and new car-making forces are merging with each other to learn from each other’s strengths. Because the new energy vehicle technology is quite different from the traditional fuel vehicle technology, the core technologies involved in the production of fuel vehicles, such as gearbox and engine, and the first-Mover advantage of traditional car companies in the new energy field no longer exist, the new forces of car-making and traditional car companies return to the same starting line, and competition stimulates their potential. In the long run, traditional fuel car companies should learn from the innovative spirit of new energy car-making forces, and new car-making forces should learn from the technical accumulation of traditional fuel car companies.

At present, the energy-saving technical route is relatively mature and easy to practice, but it still cannot completely solve the carbon emission problem.Automobile industry, as an important place of traditional fuel use, is the key direction to achieve the overall goal of carbon reduction in China. At present, there are three main technical paths for the automobile industry to achieve emission reduction: one is to produce more energy-efficient cars and directly reduce carbon emissions; The second is to achieve centralized management of carbon emissions through electric vehicles, and then manage power generation methods to achieve emission reduction; Third, hydrogen energy vehicles, through technological innovation to achieve theoretical absolute cleanliness. Each of the three methods has its own advantages and disadvantages.

Electric vehicles have become the mainstream in the three major technical paths, and China has the "curve advantage".First, electric vehicles can get rid of energy dependence. Today, China is the largest oil importer in the world, importing more than 400 million tons of crude oil every year, accounting for nearly 70% of China’s total oil consumption. However, electric technology only depends on power generation, and with the popularization of nuclear power and hydropower, the energy security problem will be alleviated; Second, China’s electric vehicle technology still has a "curve advantage", and now China has developed a relatively complete and high-tech new energy industry chain.

In the long-term perspective, the two paths of hydrogen energy and electric energy run together, and the winner of the technical path is king.Although hydrogen fuel cell is pollution-free and efficient, it is expensive and does not have practical conditions in low-end vehicles. In the short term, the hydrogen energy policy is overweight, and hydrogen energy technology will be the first alternative path of electric energy. With the encouragement of the policy, the pace of hydrogen energy industrialization is expected to accelerate, and the market’s expectations for future hydrogen energy application scenarios are more clear. But in the long run, promoting hydrogen energy at the national level is a "two-legged walk" behavior, and more attention should be paid to the correct technological path for investment.

The technical path dispute between lithium iron phosphate battery and ternary material battery has arisen again, but in fact, the user overlap between them is not high; Grade A00 uses lithium iron, which is ternary for middle and high-end vehicles.According to the loading capacity of lithium iron phosphate battery and ternary material battery in the first ten months of 2021, the market share of lithium iron phosphate battery has increased rapidly, once surpassing ternary material battery (the ratio of ternary material positive battery/Ferrous lithium phosphate positive battery installed capacity has dropped from 2.11 in the same period last year to 1.02 this year). However, this should not be understood as a competition of technical paths, and the overall overlap between lithium iron phosphate batteries and downstream users of ternary material batteries is not high. On the one hand, ternary material batteries have high energy density and high cost, and are suitable for middle and high-end vehicles with high horsepower and long battery life. Except for a few products (BYD blade batteries), most lithium iron phosphate batteries have low cost, low energy density and severe winter recession, and are suitable for entry-level and low-cost A00 or A0 vehicles. The two achieve differential competition, and the phenomenon that the market share of lithium iron phosphate batteries and ternary material batteries is divided into two parts will continue in 2020.

The "double integration" policy includes NEV integration and CAFC integration, which correspond to two emission reduction paths respectively.Double points include new energy vehicle points (NEV points) and average fuel consumption points (CAFC points) of passenger car companies. Car companies can earn NEV points and CAFC points by producing new energy vehicles and fuel-efficient vehicles. If car companies fail to meet the assessment criteria, they can make up the points in three ways: carry-forward-car companies can use the points left in the previous year in proportion; Countervailing-the subsidiaries of the same group use the points of each other’s balance; Purchase-if the first two methods are not enough, you can only buy two kinds of points from other car companies on the "double points" trading website of the Equipment Department of the Ministry of Industry and Information Technology every year. However, due to the imperfect trading mechanism and small trading market, the price of points is high.

It is suggested to promote the integration of "double points" trading and carbon trading as soon as possible, and tackle the emission reduction of the automobile industry.The automobile industry has always been an important place for energy conservation and emission reduction, and achieving the goal of "30 60" will surely tackle the problem. At present, the integral transaction between car companies is directional one-to-one transaction, and the information asymmetry is serious, so the market efficiency is low, which leads to the failure of price signals; At the same time, because carbon emissions are materialized into points, the circulation range is framed between car companies, which limits the liquidity of points to a great extent and also limits the effectiveness of the market. Therefore, we should try to promote the integration of "double points" trading and carbon trading, solve the problem of market effectiveness, and promote the automobile industry to complete the revolutionary transformation of energy by market means.

From the perspective of market concentration, the waist competition of the new energy automobile main engine plant is fierce, and the "double leading" pattern of the head is basically stable.In the first ten months of this year, the competition pattern of the main manufacturers of new energy vehicles (including electric and plug-in hybrids) was more than two-the "double-leading" BYD (with a total sales of 410,801 vehicles, including BYD Tang DM, BYD Han EV, BYD Qin PLUS DM, etc.) and Tesla (with a total sales of 349,397 vehicles, The main Model S include Model 3, Model Y, Model S, Model X, etc.), SAIC-GM-Wuling (341,757 vehicles, the main model is Wuling Hongguang Mini EV) and Great Wall Motor (97,966 vehicles, the main model is Euler Cat). In 2019, 2020 and January-October 2021, the automobile sales volume CR5 of new energy vehicle enterprises was 59.5% respectively. The shock of this market concentration should be seen in two aspects. On the one hand, the "double leading" pattern of Tesla and BYD’s new energy vehicle enterprises is basically established, and their respective consumer markets and shares are basically stable; On the other hand, the competition among non-head manufacturers is fierce. The products of Wuling and Great Wall are all low-priced models such as Mini EV, Euler Black Cat and Euler Good Cat. The market share is greatly affected by the product strength and price of a single product, so the market share of a single car company is not stable. On the whole, the waist competition of the main engine factory is fierce, and the head "double leading" grid is basically stable, and this trend is expected to continue in the next few years.

Although there is still a large market growth space for new energy vehicles and power lithium battery tracks in the long term, it is still worthy of attention whether the added value of the industry matches the valuation growth in the short and medium term.From a long-term perspective of five or even ten years, there are three ways for the industrial chain of new energy vehicles and power lithium batteries to continue to expand their market share: first, to expand the total automobile market, but according to analysis, although the marginal recovery in the short term, it is unlikely that the automobile market will explode; The second is to expand the proportion of new energy vehicles in the total number of vehicles. Now this situation is happening, which is the only increment of new energy vehicles and power lithium battery tracks; Third, the market share of battery manufacturers’ installed capacity has increased, that is, it is difficult to have a trend change in the short term by continuing to strengthen the monopoly position of head manufacturers. In the short and medium term, the possibility of exponential growth of triple factors of new energy vehicles and power lithium battery track has been weakened, so we should be alert to the valuation risk in the short term. Whether the added value of the industry matches the valuation growth is still worth discussing. In the short and medium term, the technology growth track, especially the industries and tracks such as new energy vehicles and power batteries, has accumulated a lot of gains. The track has been relatively crowded, and the historical valuation water level of many companies is close to 80% or even more than 90%. Once the internal liquidity is not too loose and the external liquidity is slightly tightened, there may be a valuation market, and the risk is very worthy of attention.

The upstream of the new energy industry chain, especially the electrolyte and diaphragm track, is close to the end of the first curve. Although the demand still has the last journey, we should always pay attention to the technology path switching.Taking anode materials as an example, graphite is the most common and cost-effective anode material at present. However, compared with graphite anode materials, silicon-carbon anode materials have ultra-high theoretical specific capacity and lower lithium-removal potential. Under the background of increasing requirements for energy density of lithium-ion batteries and the gradual maturity of battery manufacturers in mastering high-nickel systems, upgrading graphite anode systems to silicon-based anode systems is likely to become the main direction. At present, the technical level of upstream electrode materials and electrolyte products is close to the end of the first curve. Although the demand is still in the final stage, the emergence of emerging technologies such as solid-state batteries is likely to have a devastating impact on the corresponding track and target. Investment should always pay attention to technology path switching.

First, the logic of industry valuation has changed from "cycle" to "big consumption" and "big technology".The biggest change in the automobile industry since last year is the change in valuation logic. On the one hand, the traditional "manufacturing" valuation logic of automobile enterprises has changed into "consumption" logic, and the valuation center has a positive correlation with automobile sales, and high market share brings high profit growth expectations; On the other hand, the valuation of some new car upstarts and new car-making power companies presents "scientific and technological" logic, and auto companies with high technical barriers and good product experience can get higher valuations.

Second, the second half of the energy revolution has arrived, and the development path of the automobile industry is very different.Under the pressure of climate problems, countries all over the world are relying on their own technological resources to carry out different technological path research and development. Common new energy power technologies include hybrid, plug-in hybrid, extended-range electric, pure electric and hydrogen fuel cell. China enterprises have more successful products in many fields and remain in the leading position, but only lag behind in hydrogen energy technology. Nowadays, there is still a big controversy about the two development paths of pure electric power and hydrogen energy power. Now we are also at the crossroads of energy technology development. Apple won and Nokia lost.

Third, the infrastructure revolution is coming, which will bring new opportunities for the development of the automobile industry.In 2020, the "new infrastructure" will be accelerated, and the digital upgrading of traditional industries will usher in new development opportunities. In the "new infrastructure", 5G, big data, artificial intelligence, industrial internet, etc. have all become the focus of the next stage of development, which is of great significance to the construction of smart cars, smart transportation and smart city related facilities. The application of big data and industrial Internet technology will promote the transformation of the business model of the automobile industry, and by providing assistance for the digital development of manufacturing, the digital and intelligent manufacturing level of the automobile industry can be improved as a whole. The promotion of "new infrastructure" will accelerate the innovation speed in the fields of automobile technology research and development, business model and production model, and will bring subversive changes to the automobile industry.

Source of this article: If so, Institute of Finance, Author: Guan Qingyou, Xu Bonan, original title: "Guan Qingyou Team: Outlook of New Energy Automobile Industry in 2022"

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The market is risky and investment needs to be cautious. This paper does not constitute personal investment advice, nor does it take into account the special investment objectives, financial situation or needs of individual users. Users should consider whether any opinions, viewpoints or conclusions in this article are in line with their specific situation. Invest accordingly at your own risk.

The new BYD Tang is officially listed! Sell 165,800-314,800 yuan.

As the benchmark of the global plug-in hybrid industry, Tang has been widely concerned and praised by the outside world since its listing. A few days ago, the official announced that the new Tang will be officially listed on August 16th. The new cars released this time include six models with three kinds of power: fuel version, DM version and EV version. Among them, the fuel version has launched one model with a price of 165,800 yuan. The DM plug-in hybrid version has launched a total of three models, and the subsidized price range is 236,800-286,800 yuan; EV pure electric version has launched two models, and the subsidized price range is 279,500-314,800 yuan. Compared with the old models, the main changes of the new car are concentrated in the interior. The interior of the new car adopts a style similar to that of Han, with black and brown color matching, which pays attention to the improvement of luxury.

In terms of appearance, the front face of the new Tang Dynasty adopts the design language of "Dragon Face", with a number of chrome-plated banners in the middle. The headlights on both sides are sharp in shape and equipped with light sources inside. The front face is full of momentum and improves the recognition. Side, the side lines are full of three-dimensional sense, and the waist line extends from the front dragon beard to the position of C-pillar. At the same time, the roof adopts the popular suspended design, and is outlined with chrome trim to enhance the visual experience as a whole. On the tail, the tail is still a simple design route, and the penetrating taillights echo the dragon whiskers on the front face.

As for the interior, the interior of the new car was personally created by Michele Paganetti, the global interior design director, and the interior was completely upgraded. The central control area uses a large number of piano paint materials, which is more exquisite. The multi-layer suspended shape is simple and sci-fi, with a very strong sense of the future. In addition, the floating LCD screen with LCD, a sense of technology arises spontaneously. In terms of seats, the leather dragon scale luxury seat adopts top-level punching and line pressing technology, and the retractable leg rest design of the main and auxiliary drivers provides users with the most temperature-sensitive new luxury experience. In terms of configuration, it is reported that there will be 30 design and configuration upgrades for the 2021 model; The new DM version will have as many as 41 design and configuration upgrades, including DiPilot intelligent assisted driving.

In terms of power, the new car is equipped with 2.0T, 141kW(192PS), and the peak torque is 320N·m, matching the 6-speed automatic manual transmission. The DM version (plug-in hybrid version) is equipped with a powertrain composed of 2.0T+ motors. The system integrates 321kW and 431, matching the 6-speed and intelligent electric four-wheel drive system. The electric model of Tang Chun is expected to be equipped with the latest brand of Ferrous lithium phosphate blade battery. EV models still offer two-wheel drive and four-wheel drive models, and NEDC has a battery life of 565 km and 505 km respectively.

That’s all about the official launch of the new Tang. Please pay attention to us for more information about the new car.

On the 9 th, the organization pushed to buy 6 shares, which was extremely underestimated.

  Poly development

  Low-margin projects reduce performance, and high-priced soil reserves are gradually released.

  Matters:

  On January 5, the company released the 2022 performance report, and it is estimated that the company will realize operating income of 281.1 billion yuan in 2022, which is-1.4% year-on-year; The net profit of returning to the mother was 18.3 billion yuan, a year-on-year decrease of -33.2%.

  Guoxin Real Estate’s point of view: 1) Affected by the decline in gross profit margin and equity ratio of the project carry-over, the company achieved a net profit of 18.3 billion yuan in 2022, which was -33.2% year-on-year. This time, the company’s performance was fully released, and with the large number of follow-up high-quality projects carried forward, it is expected that the company’s performance level will be improved; 2) The company’s sales performance is better than the industry average, ranking second in the industry this year, and monthly sales continue to repair. With the economic recovery and the continuous relaxation of demand-side policies, it is expected that the company’s sales performance will still maintain a good trend in 2023; 3) The company actively responds to the policy and plans to raise no more than 12.5 billion yuan for the construction of 14 projects, which will effectively improve the debt structure and enhance the company’s ability to resist risks; 4) As the leader of central enterprises with stable operation, the company’s short-term performance will not change the company’s high-quality fundamentals. We are optimistic about the company’s long-term value and maintain the "buy" rating.

  Guangzhou Automobile Group

  In 22 years, the production and sales exceeded 2.43 million vehicles, and the performance of new energy was strong.

  Event: The company released the December production and sales express. In December, the output was 200,000 units, down by 25.5% year-on-year and 6.1% month-on-month. The sales volume was 206,000 units, down by 11.8% year-on-year and up by 8.2% month-on-month. The reason for the year-on-year decline of the company’s production/sales in December was mainly due to the high base pressure in the previous period and the impact of the epidemic. Cumulatively, the company’s sales in 2022 reached 2,433,800 units, up 13.5% year-on-year.

  In terms of brands, Guangfeng was under pressure in December, and the sales volume of Guangben/Guangcheng rebounded. In December, Guangfeng sold 74,000 units, down 24.7% year-on-year and 12.9% quarter-on-quarter, of which 17,000 units were sold by Ralink and 11,000 units by Fenglanda. Guangben sold 58,000 vehicles, down 25.5% year-on-year and up 24.6% quarter-on-quarter, of which Accord sold 25,000 vehicles per month. The sales volume of Guangchang was 38,000 units, up 18.1% year-on-year and 47.2% quarter-on-quarter.

  In terms of electric vehicles, Ai ‘an’s monthly sales continued to lead. In December, the sales volume of Ai ‘an reached 30,000 units, up 106.9% year-on-year and 4.3% quarter-on-quarter. Among them, Ai ‘an S sold 13,800 units, accounting for 46.1%, and Ai ‘an Y sold 14,300 units, accounting for 47.7%. In 22 years, the cumulative sales volume of Ai ‘an exceeded 271,000 units, up 125.7% year-on-year. In the future, the sales trend of new energy vehicles is generally upward, but due to the price increase caused by the subsidy retreat in early 2003, the sales growth of Ai ‘an is expected to slow down in January.

  Form an autonomous layout of battery electric drive, and continue to promote electric intelligence. The company established Guangzhou Automobile Ai ‘an Inpai Battery Technology Co., Ltd., and invested 10.9 billion yuan to carry out the industrialization of independent batteries; Ruipai Power Technology Co., Ltd. was established and invested 2.16 billion yuan to carry out independent research and development and industrialization construction of IDU electric drive system. In terms of intelligence, the company released the research and development achievements of the whole vehicle cross-domain standardized operating system Psay OS, the newly upgraded ADiGOSPACE intelligent cockpit system, and the ADiGOPILOT intelligent driving system based on the Spirit architecture, and the new SUV Binzhi of Guangben realized the intelligent upgrade, helping to realize intelligent travel in the whole scene. At present, GAC’s new energy business continues to grow steadily, and the degree of mixing of Chuanqi vehicles continues to increase. We believe that the company’s new energy vehicle sales are expected to continue to grow in 23 years with the gradual formation of the advantages of independent new energy industry chain and the intelligent development of products.

  Profit forecast and investment suggestion. It is estimated that the EPS in 2022-2024 will be 1.02 yuan, 1.12 yuan and 1.31 yuan respectively, and the net profit returned to the mother will maintain a compound growth rate of 23% in the next three years, maintaining a "buy" rating.

  Risk warning: epidemic risk; Risk of chip shortage; The risk that the sales volume of independent and joint ventures is lower than expected; The risk that the price increase of raw materials exceeds expectations; Cost control is lower than expected risk.

  BYD

  Million-level look forward to the release, leading the brand up.

  BYD’s "Looking Up" was officially launched, and the SUV looked up to U8 and pure electric supercar U9 were released.

  On January 5th, () held the brand and technology conference of "Dare to Leap the Star River" in Shenzhen, officially released the brand-new high-end automobile brand "Look Up" and its core technology "Easy Sifang", and simultaneously released two models, namely, look up to the first million-class new energy hard-core off-road U8 and the million-class pure electric performance super-run: U8 will be the brand’s first mass-produced model, with a car length of over 5 meters and a car width of over 2 meters, giving consideration to excellent off-road. U9 is also equipped with an easy-to-square power system, with an acceleration of 2 seconds at zero speed, and adopts an electric intelligent butterfly door to create an extremely safe body structure. We maintain the company’s net profit forecast for 22-24 years at 113.9/212.3/30.62 billion yuan, and adopt the segment valuation method to give the company a target price of 348.40 yuan, thus maintaining the "buy" rating.

  The brand-new "Easy Sifang" technology platform is equipped with all models as standard.

  "Easy Sifang" technology is a set of power system with four independent wheel motors as the core, which reconstructs the characteristics of new energy vehicles from three dimensions: perception, decision-making and execution. This technology fully strengthens vehicle safety through a more perceptive electric drive system: after a single wheel has a flat tire, the driving wheel makes a powerful compensation intervention in time to help the vehicle brake stably and controllably; It has good tightness of the car body and cockpit, and can obtain emergency floating ability by virtue of four-wheel independent vector control function. In addition to safety, the highest rotation speed of the platform is 20500rpm, and the horsepower of the whole vehicle is over 1,100 horsepower. The fastest acceleration of 100 kilometers can achieve 2 seconds, and it can realize in-situ U-turn on high-adhesion roads such as asphalt roads. When the steering gear and brake are not working, the braking distance of 100 kilometers less than 40 meters and the agile steering ability of less than 12 meters can be realized.

  Tengshi, look up to two high-end brands, and jointly promote the company’s brand.

  In 2022, BYD made a great breakthrough in the mainstream market of new energy vehicles by virtue of the "two-wheel drive" strategy of E platform and DM-i platform, and became the global sales champion of new energy vehicles with annual sales of more than 1.86 million vehicles. The release of Tengshi and brand-new high-end brands fully demonstrates BYD’s cutting-edge technological advantages, which is expected to strengthen the company’s right to speak in luxury markets and high-end markets and enhance brand tonality. Since the beginning of 23 years, BYD’s product matrix of "Dynasty+Ocean+Tengshi+Looking Up" has been formally established, which will fully match the needs of various consumer levels and continue to strengthen brand influence.

  Maintain the company’s "buy" rating

  We maintain the company’s revenue and profit forecast for 22-24 years, and adopt the segment valuation method. Based on the 23-year revenue and net profit forecast, we give 1.91 times PS to the automobile business, 2.01 times PS to the rechargeable battery business, and 16.07 times PE to the electronic business, corresponding to a total market value of 1,014.196 billion yuan and a target price of 348.40 yuan (the previous value was 317.16 yuan), and maintain ".

  Risk warning: the uncertainty of macro-environment throughout the year may affect income; In the future, the competition in the industry will intensify, and the order volume will be less than expected; The fluctuation of upstream materials leads to a sharp increase in costs.

Qin PLUS EV 2023 Champion Edition officially went on sale for 12.98-17.68 million.

  [Pacific Auto New Car Channel] On April 7, the EV 2023 Champion Edition was officially launched, and the price range of new cars was 129.8-176.8 million, with a total of 6 models launched. As a new model, the 2023 Champion Edition first adds a black jade blue appearance and a warm sun brown interior, and at the same time, it has also been upgraded in configuration and intelligence. The new car will adopt the core technology of BYD e platform 3.0, including eight-in-one powertrain, heat pump system and so on.

? ? ? ? In addition, the government also introduced multiple gifts for waiting for a car, including 15% low down payment, 60 or 24 interest-free, replacement subsidy of 2,500 yuan, lifetime warranty of the three power systems, lifetime free OTA system upgrade, free installation of charging piles, and free gift of continental tires within a limited time.

  Qin PLUS EV 2023 Champion Edition has not changed much in appearance design. Like the current model design, the new car also adopts the classic design language of "EV Dragon Face", with thick chrome trim, and the iconic elements such as "Qin" Chinese character logo are reserved. The headlight is designed with the shape of "arrow feather", which has good recognition after lighting.

  Qin PLUS EV 2023 Champion Edition adopts a design similar to sliding back, and the car size is consistent with the current model, with the length, width and height of 4765/1837/1515mm and the wheelbase of 2718mm respectively. The rear part is equipped with a penetrating light belt, and the taillight group adopts the design of "the mark of the dragon’s paw", which echoes the headlights. In addition, Qin PLUS EV 2023 Champion Edition also added the appearance color of black jade blue.

  The interior shape of the car is basically consistent with the cash, and the warm sun brown interior color is added. In addition, Qin PLUS EV 2023 Champion Edition is equipped with an 8.8-inch floating dashboard, and provides 10.1-inch and 12.8-inch central control panels according to different models. The 12.8-inch central control panel also supports adaptive rotation function.

  All models of Qin PLUS EV 2023 Champion Edition are equipped with integrated sports seats as standard in the front row. Compared with the current models, the contact surface between the seat and the human body will be covered with perforated leather to improve comfort.

  In addition, the car will also be equipped with DiLink 4.0 intelligent network connection system, mobile phone NFC car key, remote driving and other functions, and equipped with electric sunroof, front electric seat adjustment, rear air outlet and other configurations.

  As for power, Qin PLUS EV 2023 Champion Edition will upgrade the core technology of E-platform 3.0, equipped with BYD’s latest eight-in-one electric powertrain. The maximum power of the motor is 150 kW, the cruising range of CLTC is 610 km, and the comprehensive power consumption per 100 km is 12.5 kWh.

  At the same time, the car will also be equipped with a wide temperature range efficient heat pump system and battery pack refrigerant direct cooling and direct heating technology to improve the vehicle’s low-temperature endurance performance. (Text: Pacific Auto Ke Kaiwen Photo: Ji Jipeng)

Mingya Decoration 2017 Annual Summary and 2018 Annual Planning Meeting Held

Original title: Mingya Decoration 2017 Annual Summary and 2018 Annual Planning Meeting Held

It’s the tenth day of the first month,

Spring blossoms, everything recovers,

With the festive colors of the New Year,

Mingya decoration was held.

2017 annual summary and 2018 annual planning meeting,

All the staff and guests gathered together,

Congratulations on the Spring Festival and talk about the development of the New Year.

        In the morning, at Mingya Decoration Guangzhou Operation Headquarters, Chairman Guo Haiming personally distributed a red envelope to every Mingya employee, symbolizing a happy New Year, career progress and family happiness.


Mr. Guo Haiming, the chairman of the board, distributed red envelopes to all employees.

       At 1: 30pm, the summary planning meeting with the theme of "Let’s gather together and build a dream" was formally held. Fu Xiaoyuan, deputy general manager in charge of the company, Zhong Zongguang, engineering director and Duan Lixia, deputy general manager in charge of the company, respectively made the work summary report for 2017 and the work plan for 2018, reported the achievements in their respective jurisdictions in the past year, and made a profound review on the shortcomings in their work. Chairman Guo Haiming made an important speech with the theme of "The Elegant Craftsman Spirit of New Retail". With the help of Internet platform tools, new retail has developed rapidly, warning all Mingya people to seize opportunities, face new challenges, be more professional and focused, and form the elegant craftsman spirit first. At the same time, it analyzes the operation of Mingya Decoration in the past year, points out the shortcomings of Mingya Decoration in the past year, and guides all colleagues how to take advantage of the new challenges and be meticulous.

        The conference selected the long-term service award, business model award, outstanding employee award, high-quality project award, outstanding team award and special contribution award for employees working for more than three years in 2017, and awarded certificates and bonuses. At the same time, Mingya Decoration’s contribution in the past year has been highly recognized by our partners. Goodyear Tire, Michelin Tire and Nexen Tire respectively awarded Mingya Decoration the "Best Supplier" Award in 2017. This heavy medal and honor is the pride of Mingya, the witness of Mingya’s growth and the driving force of Mingya’s continuous progress! In 2018, Mingya people will continue to carry forward the spirit of hard work, be specialized, stronger and bigger, make more high-quality projects, form Mingya’s craftsman spirit, ride the wind and waves, forge ahead, and provide customers with more professional one-stop service!


Moderator Cai Chunyan announced the meeting discipline and meeting process.

Fu Xiaoyuan, deputy general manager, makes a work report.


Zhong Zongguang, Director of Engineering Department, made a work report.


Duan Lixia, deputy general manager in charge, made a work report.

Chairman Guo Haiming gave a keynote speech.


3-year long service award (40 persons in total)


4-year long service award (41 persons in total)

5-year long service award (59 persons in total)

6-year long service award (39 persons in total)

7, 8 and 9 years long service award (28 persons in total)


10, 12 years long service award (8 people in total)

Speech by the representative of long service award

Business model (28)

Outstanding employee award (18)

Safety and Civilization Management Award (16)

Quality engineering award

Excellent team award


Special contribution award


Mr. Luo Yue, manager of Goodyear tire retail store, made a speech.


Mr. Qi Qi, Retail Marketing Manager of Michelin Tire, made a speech.

Mr. Jin Minzai, Director of Nexen Tire Marketing Department, made a speech.

Mr. Gu Yangyang, Manager of Dunlop Tire Store Development Section, made a speech.

Mr. Chen Weike, Pirelli Tire Manager, made a speech


Mr. Zhu Deli, General Manager of Aiyihang Guangdong, made a speech.  

Mr. Lin Zengsheng, Director of Huasheng Wheel Insurance Project, made a speech.  

Mr. Yan Li, general manager of German intensive care, made a speech

Speech by Mr. Li Tongsheng, President of Guangdong Automobile After-sales Service Industry Association Co., Ltd.  


Guangdong Naiche New Energy Automobile Industry Co., Ltd.Mr. Yang Shoucong, CEO, spoke.  

Speech by Ms. Zhong Yanan, General Manager of FC Business Department of Car Cabin


Mr. Luo Yue, Goodyear Tire Retail Store Manager, presented the award.

Mr. Qi Qi, Retail Marketing Manager of Michelin Tire, presented the award.


Mr. Jin Minzai, Director of Nexen Tire Marketing Department, presented the award.


Chairman Guo Haiming took a group photo with the customer.

All employees of the company took photos with customers as a souvenir.

        After the annual summary planning meeting, we got together to raise a glass and have a drink. All departments actively organized and planned, including wonderful programs such as dancing, singing and chorus. Some guests were infected by the warm atmosphere and sang a song for everyone on the spot, which made the atmosphere on the spot hot. In addition, the party also set up a lucky draw for all employees and customers, and prepared a wealth of prizes, and the atmosphere was full of joy. In an atmosphere of harmony, unity and forge ahead, raise your glass, all the distinguished people, expressed their best wishes and expectations for 2018.


The host announced the start of the dinner.

Mingya manages the team.Present a chorus-"Tomorrow will be better"

Songs brought by handsome guys in the design department-"Decent" and "The brightest star in the night sky"

The Dance Brought by Elegant Beauty —— "Step on Step"


Miss Zhong Yanan, General Manager of FC Business Department of Car Cabin, sang a song-"So you are here".

The big screen scrolls, and the lucky one is born.

       Mingya Decoration 2017 Annual Summary and 2018 Annual Planning Meeting was successfully concluded. Thank customers for their support and trust, Mingya colleagues for their hard work in the past year, and for their contributions to Mingya for many years. The vigorous growth of Mingya decoration cannot be separated from the hard work of all employees. I hope all employees will continue to stick to their posts, work hard for the same dream, and strive for the same future to create a better future for Mingya! Once again, I wish you all good health, smooth work and all the best in the new year!  

—END—

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Little red book says no to fake notes! There are tricks to distinguish "brush quantity" goods.

  Recently, Xiaohongshu published the "Brand Partner Platform Upgrade Instructions" online, which set higher requirements for the number of fans and monthly exposure of bloggers. KOL (bloggers) who do not meet the requirements will be disqualified as brand partners. In this regard, Qu Fang, founder of Xiaohongshu, said that the new regulations are to ensure the quality of content rather than cleaning KOL. E-commerce experts have tricks to recruit consumers and identify "brushing" goods.

  Yangzi Evening News/Yangyan Reporter Fan Xiaolin Intern Zhu Menghan

  Little Red Book New Rules: 12 points for traffic fraud

  Recently, some media reported that the industrial chain of writing, brushing, and improving the search ranking of the little red book notes surfaced, so that your notes of "planting grass" may not come from the personal experience of real users, but are "fabricated" by professional writers according to the needs of businesses. Qu Fang, the founder of Xiaohongshu, said that the behavior of black production and brushing reported in the article is the object that Xiaohongshu has been severely cracked down on, and Xiaohongshu has reported such incidents to the police. It is reported that from January to March this year, Xiaohongshu’s anti-cheating technical team handled 1.38 million illegal accounts, 380,000 cheating accounts and 1.21 million cheating notes, and has cooperated with the police investigation to crack many cases of brushing. On May 15th, a new regulation was put forward on Xiaohongshu Online: KOL (blogger) who needs more than 5,000 fans and an average monthly exposure of more than 10,000 can be qualified as a brand partner, and KOL who takes orders in violation of regulations, fails to mark advertisements and makes false notes on traffic will be directly deducted 12 points and terminated. The purpose is to raise the threshold, cancel the low-quality KOL posting qualification, and ensure the high-quality platform content.

  Content fraud, blindfolded by "planting grass"

  According to the monitoring of the network economy and society, in addition to Xiaohongshu, many e-commerce platforms such as Taobao, Meituan, Renren, Xiaomi, etc. are frequently exposed to brushing behaviors and brushing platforms such as handshake network and baby brushing network. In this regard, Cao Lei, director of the Research Center of NetEconomy-E-Commerce, believes that the brush industry has always existed, just like the brush list and the Weibo Water Army, where there is interest, there is a drive. Fang Chaoqiang, a Beijing Yingke (Hangzhou) law firm, said that information called sharing but actually promoting soft articles can be identified as Internet advertisements. The merchant who entrusts to publish advertisements is the advertiser, and the main body of the publishing account is the advertising agent and publisher. According to the regulations, they all need to be responsible for the authenticity of advertisements, and at the same time, the advertising identity of soft texts should be marked so that consumers can clearly distinguish them as advertisements. Violators, the administrative department may impose an administrative penalty of less than 100 thousand. False brushing behavior will reduce the evaluation of the authenticity of Xiaohongshu data, which is actually an infringement and damage to Xiaohongshu’s business model. Meng Huixin, assistant analyst of the Legal Rights Department of the Research Center of NetEconomy-E-Commerce, said that brushing, deleting bad reviews, false evaluation and other behaviors not only disrupted the normal trading order of the e-commerce industry, but also damaged consumers’ right to know and cast a shadow over "planting grass". In accordance with the relevant provisions of the Anti-Unfair Competition Law, helping others to swipe their bills, speculate on letters, delete bad reviews and fictitious transactions will also be severely punished.

  How to identify "brush quantity" and "brush praise" goods?

  Any false data is a great harm to those who truly respect the rules of the game and do their best to be e-commerce practitioners. So, how should consumers guard against it? Yao Jianfang, an analyst at the Legal Rights Department of the E-Commerce Research Center, reminds consumers that buyers can identify sellers who have the behavior of "brushing" and "brushing praise" in online shopping in the following ways: First, look at the store’s rating and establishment date. Generally speaking, a store with a long establishment time will have a better reputation; The second is to look at the ratio of the number of evaluations to the number of transactions. The number of transactions is huge, but the number of evaluations is very small. This situation is usually caused by the large amount of returns; The third is to look at the content of praise. If you look at all the comments, they are all "good", and most of them are brushed out; The fourth is to look at the photos and bad reviews. Praise will be fraudulent, but consumers who complain maliciously are a minority after all, so the reference value of bad reviews is higher than praise.

Guangzhou automobile co., ltd. plans to launch an all-solid-state battery without a map and pure visual intelligent driving scheme, and plans to get on the bus in 2026.

  Caixin. comGuangzhou Automobile Group (601238.SH) is developing an intelligent driving scheme with no map and pure vision. This scheme does not rely on high-precision maps, does not use lidar, and focuses on the function of NOA(Navigation on Autopilot) in the city. It is planned to be put on a production car in 2026. At the Science and Technology Day held on April 12th, Guangzhou Automobile Group disclosed the above news.


  The company also said that its all-solid-state battery will be carried on the Haobo model of the Ai ‘an brand in 2026. Ai ‘an is a new energy sub-brand of Guangzhou Automobile Group.


  Before 2023, in addition to the Tesla scheme, the intelligent driving system of NOA in the city usually needs two "crutches" of high-precision maps and lidar. High-precision maps provide prior information such as lane line position and width, road slope and curvature, traffic signs, signal lights, etc., to assist vehicle perception and decision-making. Lidar can make up for the camera defects and further enhance the experience and security.

Announcement of Listed Companies in Shenzhen (February 8)

  Several directors and senior executives of Changgao Group have reduced their holdings by 7,173,700 shares.

  () Announce that the actual controller, chairman Mr. Ma Xiaowu, directors Mr. Ma Xiao, Mr. Lin Lin, Ms. Liu Jiayu and chief financial officer Mr. Liu Yunqiang of the company plan to reduce some of the company’s shares by centralized bidding or block trading within 6 months (from November 1, 2021 to April 30, 2022) after 15 trading days from the date of the announcement of the reduction.

  As of the date of this announcement, the above-mentioned personnel have reduced their holdings by more than half, with a total of 7,173,700 shares of the company.

  Dongpeng Holdings has not implemented share repurchase yet.

  () Announcement, as of January 31, 2022, the company has not implemented share repurchase.

  Huang Qiang, an executive of Guibao Technology, reduced his holding of 9,000 shares of the company.

  () Announcement was issued. As of the disclosure date of this announcement, Mr. Wang Youqiang and Mr. Li Song did not reduce their holdings of the company’s shares, and Mr. Huang Qiang reduced his holdings of 9,000 shares of the company during this period.

  Qiaqia Food has spent 30.008 million yuan to buy back 547,800 shares.

  () Announcement was issued. As of January 31st, 2022, the company repurchased 547,800 shares of the company by centralized bidding through the special securities account for share repurchase, accounting for 0.108% of the company’s current total share capital. The highest transaction price was 59.56 yuan/share, the lowest transaction price was 520,775 yuan/share, and the total turnover was 30,008,000 yuan.

  Jingquanhua bought back 106,000 shares at a cost of 1,265,100 yuan.

  () Announcement was issued. As of January 31, 2022, the company repurchased 106,000 shares of the company by centralized bidding, accounting for about 0.059% of the company’s current total share capital. The highest transaction price was 12.11 yuan/share, the lowest transaction price was 11.80 yuan/share, and the total transaction amount was 1,265,100 yuan (excluding transaction costs). The repurchase of the above-mentioned companies meets the requirements of relevant laws and regulations and conforms to the established repurchase plan.

  Kelun Pharmaceutical has repurchased 2,216,600 shares at a cost of 40,005,100 yuan.

  () Announced that as of January 31st, 2022, the company used its own funds to implement this repurchase plan, and repurchased shares by centralized bidding through the special securities account for stock repurchase. The cumulative number of repurchased shares was 2,216,600 shares, accounting for 0.1555% of the company’s total share capital. The highest transaction price was 18.25 yuan/share, the lowest was 17.85 yuan/share, and the transaction amount was 40,005,100 yuan (.

  Wanbangde repurchased 4,139,200 shares at a cost of 50,953,500 yuan.

  () Announcement was issued. As of January 31st, 2022, the company repurchased shares by centralized bidding, and the cumulative number of repurchased shares was 4,139,200 shares, accounting for 0.67% of the company’s total share capital. The highest transaction price was 12.64 yuan/share, the lowest was 9.69 yuan/share, and the transaction amount was 50,953,500 yuan (excluding transaction costs).

  Zhang Shaoyao and Cheng Yanan, directors of Xingqi Ophthalmology, did not reduce their holdings of the company’s shares, and the period of reduction expired.

  () Announcement was issued. On February 7, 2022, the company received the Letter of Notice on the Expiration of the Share Reduction Plan issued by Mr. Zhang Shaoyao, Director, Deputy General Manager and Secretary of the Board of Directors, and Ms. Cheng Yanan, Director and Chief Financial Officer respectively. As of the disclosure date of this announcement, the period of the reduction plan of Mr. Zhang Shaoyao and Ms. Cheng Yanan has expired. From July 21, 2021 to the disclosure date of this announcement, Mr. Zhang Shaoyao did not reduce his shares in the company in any way. From July 21, 2021 to the disclosure date of this announcement, Ms. Cheng Yanan did not reduce her shareholding in the company in any way.

  Yingke Medical: It plans to invest 300 million yuan to invest in Wuxi Shangxian Lake Boshang Investment Partnership.

  () On the evening of February 7th, it was announced that the company planned to sign a partnership agreement with Jiangsu Boshang, etc. to invest in Wuxi Shangxian Lake Boshang Investment Partnership (Limited Partnership) with its own funds of 300 million yuan. The total subscribed capital of the partnership enterprise is 6 billion yuan, focusing on the target companies and asset portfolios in the fields of new generation information technology, advanced manufacturing, medical and health care, consumer technology and other scientific and technological innovations.

  The construction and restoration consortium won the bid for the project of 317 million yuan.

  On February 7th, () (SZ300958) issued an announcement, and the company received the Notice of Winning Bid from Tianjin Beichen District Land Consolidation Center and Tianjin Pan Asia Engineering Consulting Co., Ltd., informing the consortium formed by the company and Zhongshui North Survey, Design and Research Co., Ltd. to win the bid for the dolphin rubber plot restoration and treatment project, with a bid amount of about 317 million yuan and a construction period of 18 months from the date of signing the contract. Since 2022, the construction engineering restoration has successively won the bid for Tianjin Dolphin Rubber Plot Restoration Project and Yancheng Lianfu Petrochemical Co., Ltd. West Plant Plot Restoration Project, with a total contract amount of about 346 million yuan, laying a good foundation for sprinting the business target in 2022.

  The actual controller of construction repair is Beijing State-owned Assets Supervision and Administration Commission (SASAC), which landed on GEM in March 2021, and is the first concept stock in the A-share market that is mainly engaged in environmental repair business. As one of the earliest companies specializing in environmental restoration services in China, the construction engineering restoration after listing is accelerating the construction of comprehensive environmental restoration service layout.

  A few days ago, the 2021 Science and Technology Promotion Award of China Academy of Sciences was announced, and the scientific research team of "Key Technologies and Applications of Industrial Contaminated Site Restoration" participated in the construction project restoration successfully won the award. This is after winning the 2021 environmental technology progress award, the scientific and technological innovation strength of construction repair has once again been recognized by the authority. Supported by the scientific and technological service capabilities of leading industries, the company has a strong momentum to accelerate the value transformation of the environmental restoration industry chain.

  Relying on the high market share in the industry and the resource integration advantages of state-owned assets, the industrial chain layout of construction and restoration is stable and efficient. In 2021, the first batch of six "Environmental Hospital" service model pilot projects in Shandong Province were officially approved, and two projects, "Qingdao Environmental Hospital" and "Qilu Cloud Environmental Hospital", which were jointly declared for construction and restoration, were successfully selected, deepening model innovation in the field of remediation of contaminated sites with first-Mover advantages, and providing environmental policy consultation, diagnosis of environmental problems, system solutions, investment and financing of engineering construction, engineering design and construction, commissioning and operation for the government, enterprises and the public. At the same time, the company established an emergency disposal center for contaminated soil and groundwater in Yanziji New Town, Nanjing, explored the path of productization of contaminated soil, systematically solved the problem of regional pollution prevention and control, and opened up the market space for environmental restoration and operation.

  Focusing on the "14th Five-Year Plan" of the country and the goal of carbon neutrality in peak carbon dioxide emissions, construction and restoration have frequently fallen into the business direction of ecological restoration. At the Global Coastal Forum, the company reached a strategic cooperation with Jiangsu Huanghai Wetland Research Institute to jointly build an experimental base for wetland purification and restoration, carry out research and development of key technologies and tackle key scientific problems, and make classified policies around different characteristics and governance needs of river and lake wetlands, coastal wetlands and urban wetlands, so as to scientifically promote the landing of wetland restoration projects. In Kunming, Yunnan Province, the project of comprehensive management of abandoned open-pit mines in the Yangtze River Economic Belt in Yunnan Province was undertaken for construction engineering restoration. Based on the achievements of material research and development, phosphogypsum was explored for soil improvement and pit filling, and ecological restoration and solid waste disposal were combined to realize the transformation of ecological benefits and economic benefits, and a model of "solid waste utilization+mine restoration" was created.

  Research reports issued by many institutions are optimistic about the prospects of soil remediation market. Huajin Securities once predicted that the total market space in the three major areas of industrial contaminated site remediation, soil remediation in mining areas and farmland remediation could reach several trillion yuan in the future. (Reporter/Xiang Yantao)

  Huada Gene: COVID-19 antigen self-test products have obtained EU CE access qualification.

  At noon on February 7th, () announced that the COVID-19 antigen self-test product of BGI Europe A/S (referred to as "European Medicine"), a wholly-owned subsidiary of the company, had recently obtained the EU CE certificate.

  According to BGI, COVID-19 antigen self-test products need no testing equipment, and have the characteristics of easy operation and quick results, which is convenient for individuals and families to quickly test Covid-19, and can better meet the needs of home detection and prevention of epidemic situation in various countries. Immunoassay is a traditional and mature detection technology, but its production system construction and quality optimization work test the technical accumulation and operation ability of the enterprise. The company’s COVID-19 antigen self-test product obtained the EU CE certificate this time, which indicates that the performance of the company’s immunoassay product has been recognized by the official organization, which is an important progress for the company to build a high-medium-low-flux product system in the field of infection prevention and control, and is of great significance for promoting the multipolar development of the company’s infection prevention and control business products.

  Qi zhou, director of Fengxing Co., Ltd., has not reduced his shareholding, and the reduction period has expired.

  () It was announced that qi zhou, the director of the company, did not reduce his shareholding in the company during this reduction plan. As of the date of this announcement, the period of its reduction plan expires.

  Changyuan electric power subsidiary plans to expand the engineering chemical water system and the EPC project of zero wastewater discharge in the whole plant.

  () Announcement was issued. On January 29th, 2022, the company received the Notice of Winning Bid (Shenhua Engineering Zhong [2022] No.00197) issued by the tendering agency () International Engineering Co., Ltd., and determined that Guoneng Langxinming Environmental Protection Technology Co., Ltd. (hereinafter referred to as Guoneng Langxinming) was a wholly-owned subsidiary of Guoneng Changyuan Jingzhou Thermal Power Co., Ltd. (hereinafter referred to as Jingzhou Company).

  The EPC general contracting project of the 2×350MW expansion project of Jingzhou Thermal Power Plant Phase II of Changyuan Electric Power Co., Ltd. can realize raw water treatment and meet the water demand of the unit after the unit is officially put into use, and at the same time realize the cascade utilization of water resources without desulfurization wastewater discharge, and finally achieve the goal of zero desulfurization wastewater discharge.

  Guanzhong Ecology: The consortium won the bid of 319 million yuan for gaoqing county urban and rural greenway network project.

  () Announced that the consortium formed by the company and Photosynthetic Garden is the first successful candidate for the urban and rural greenway network project in gaoqing county. On January 29th, the company received the Notice of Winning the Bid for Construction Project from the tenderee and the tendering agency, with a bid price of 319 million yuan and a construction period of 730 (calendar days).

  The winning project belongs to the company’s main business. If the company can sign a formal project contract and implement it smoothly, it will have a positive impact on the company’s operating performance and will not affect the company’s operating independence.

  New Beiyang bought back 2.703 million shares at a cost of 23.0809 million yuan.

  () Announced that as of January 31, 2022, the company had repurchased 2.703 million shares by centralized bidding through the special securities account, accounting for 0.4060% of the company’s total share capital as of September 30, 2021. The highest transaction price was 9.07 yuan/share, the lowest transaction price was 7.92 yuan/share, and the total amount paid was 23.0809 million yuan (excluding transactions)

  Shandong Mining Machinery bought back 10 million shares at a cost of 21,893,100 yuan.

  () Announcement was issued. As of January 31st, 2022, the company repurchased 10,000,800 shares of the company by centralized bidding through the special securities account for share repurchase, accounting for 0.56% of the company’s total share capital. The highest transaction price was 2.26 yuan/share, and the lowest transaction price was 2.1 yuan/share, and the total amount paid was 21,893,100 yuan (excluding transaction costs).

  Cheng Zongyu, the controlling shareholder of Mingjiahui, reduced his holdings by 11,223,100 shares in a block trade.

  () It was announced that Mr. Cheng Zongyu, the controlling shareholder, did not reduce his shares by centralized bidding, and the implementation period of his block trading and centralized bidding plan for reducing his shares has expired, in which the block trading reduced his holdings by 11,223,100 shares, accounting for 1.71%.

  Tang Renshen has spent 62.967 million yuan to buy back 9.8937 million shares.

  () Announcement was issued. As of January 31st, 2022, the company repurchased 9,893,700 shares of the company by centralized bidding through the special securities account for share repurchase, accounting for 0.82% of the company’s current total share capital. The highest transaction price was 7.33 yuan/share, the lowest transaction price was 5.65 yuan/share, and the turnover was 62.967 million yuan.

  Haisike: Application for registration of new indications of cyclophenol injection was accepted.

  () On the evening of February 7th, it was announced that the application for registration of new indications of innovative drug cyclophenol injection by Liaoning Haisike, a wholly-owned subsidiary, was accepted; Cyclophenol injection is a brand-new intravenous anesthetic developed by the company with independent intellectual property rights. In addition, the company’s innovative drug HSK31858 tablets were approved to carry out clinical trials for "lower respiratory diseases caused by bronchiectasis and acute lung injury/acute respiratory distress syndrome"; The innovative drug HSK31679 was approved to carry out the clinical trial of "intended to be used to treat adult primary hypercholesterolemia".

  Haisike obtained the Notice of Approval for Clinical Trials of innovative drug HSK31858 tablets.

  Haisike announced that the company had recently obtained the Notice of Approval for Clinical Trials of Drugs issued by National Medical Products Administration Drug Evaluation Center. After examination, HSK31858 tablets accepted in November 2021 met the relevant requirements for drug registration, and it was agreed that this product could be used for clinical trials of "lower respiratory diseases caused by bronchiectasis and acute lung injury/acute respiratory distress syndrome".

  It is reported that HSK31858 tablet is an oral, potent and highly selective small molecule inhibitor of 1(Dipeptidyl Peptidase1,DPP1) independently developed by the company, and it is intended to be used for treating bronchiectasis and lower respiratory diseases caused by acute lung injury/acute respiratory distress syndrome.

  Superstar Technology repurchased 6,673,800 shares at a cost of 203 million yuan.

  () Announcement was issued. As of January 31st, 2022, the company repurchased 6,673,800 shares of the company by centralized bidding, accounting for 0.5837% of the company’s total share capital. The highest transaction price was 3.270 yuan/share, the lowest transaction price was 2.483 yuan/share, and the total used funds were 203 million yuan (excluding transaction costs).

  Chen Huashen, supervisor of Xuedilong, has not reduced his shareholding for more than half of the time.

  () Announcement was issued. As of February 7, 2022, Mr. Chen Huashen, the supervisor, had been in the middle of the reduction plan, and Mr. Chen Huashen did not reduce his shares in the company during the reduction plan period.

  Opening medical treatment: electronic lower digestive tract endoscope obtained medical device registration certificate.

  () On the evening of February 7th, it was announced that the company’s electronic lower digestive tract endoscope had been approved by Guangdong Drug Administration, and recently obtained the registration certificate of medical devices in People’s Republic of China (PRC).

  Yongxing Materials received a financial subsidy of 43.2608 million yuan.

  () Announcement. Recently, Huzhou Yongxing Materials Recycling Co., Ltd., a wholly-owned subsidiary of the company, received a financial subsidy of 43.2608 million yuan from Huzhou Finance Bureau in the form of cash subsidy. As of the date of this announcement, all the subsidy funds have been received.

  Ocean Life spent 828,100 yuan to buy back 24,400 shares.

  () Announcement was issued. As of January 31st, 2021, the company has repurchased 24,400 shares of the company by centralized bidding through the special securities account, accounting for 0.0004% of the company’s total share capital. The highest transaction price is 33.98 yuan/share, the lowest transaction price is 33.88 yuan/share, and the accumulated transaction amount is 828,100 yuan (excluding transaction costs). This repurchase is in line with the requirements of relevant laws and regulations.

  Nanjing Julong: Ten shareholders including Wang Gang intend to reduce their holdings by no more than 795,300 shares.

  () Announcement: Recently, the company received the Notice of Share Reduction Plan issued by 10 shareholders, namely Wang Gang, Zhang Jincheng (senior manager of the company), Zhao Yong, Liu Zhaoning, yan wang, Liu Ming, Zhu Shujun, Wu Zhong, Liu Zhiwei and Zhang Yechun, respectively. The above shareholders plan to reduce their shares in the company by centralized bidding, with a total of no more than 795,300 shares, accounting for 0.5% of the company’s total share capital.

  Zuoli Pharmaceutical Co., Ltd.: The workshop of Chinese herbal pieces passed the GMP compliance inspection.

  () Announcement was issued. Recently, the company inquired about the "GMP compliance inspection results of Zhejiang Drug Administration No.0013" on the website of Zhejiang Drug Administration, and learned that the inspection results of the company’s Chinese herbal pieces workshop met the requirements.

  According to the announcement, the company’s Chinese herbal pieces workshop passed the GMP compliance inspection, indicating that the company’s production line meets GMP requirements, which is conducive to the company’s related products to meet market demand.

  Shenghui Technology has been re-recognized by high-tech enterprises.

  () Announcement: Recently, the company received the Certificate of High-tech Enterprise jointly issued by Shandong Provincial Department of Science and Technology, Shandong Provincial Department of Finance and Shandong Provincial Taxation Bureau of State Taxation Administration of The People’s Republic of China, with the certificate number GR202137006918, the issuing date is December 10, 2021, and the validity period is three years.

  Huisen Investment, a shareholder of Gaomeng New Materials, has not reduced its shareholding for more than half of the time.

  () Announcement. Today, the company received a Letter of Notice on the Progress of the Share Reduction Plan jointly issued by three concerted actions of shareholders Huisen Investment, Tang Xiaolin and Hu Yuyou. As of the disclosure date of this announcement, the above-mentioned reduction plan has been over half, and no reduction has been made during the reduction plan period.

  Aoyang Group, the controlling shareholder of Aoyang Health, pledged 22.3 million shares each.

  () Announcement, the company recently received a notice from the controlling shareholder Aoyang Group Co., Ltd. (hereinafter referred to as "Aoyang Group"), and learned that some shares held by Aoyang Group were released from pledge and some shares were pledged at the same time.

  This time, 22.3 million shares were released from pledge, accounting for 9.48% of its shares and 2.87% of the company’s total share capital.

  This time, 22.3 million shares were pledged, accounting for 9.48% of its shares and 2.87% of the company’s total share capital.

  Qianhai Life Insurance, the major shareholder of OCT A, has reduced its holdings of 47.7439 million shares for more than half of the reduction period.

  OCT A announced that by February 5, 2022, Qianhai Life Insurance Co., Ltd. ("Qianhai Life Insurance"), a shareholder holding more than 5% of the company’s shares, and Shenzhen Jushenghua Co., Ltd. ("Jushenghua"), a concerted action, had reduced their holdings by more than half, and Qianhai Life Insurance had reduced its holdings by 47,743,900 shares, accounting for 0.58% of the total share capital.

  Baode Science and Technology Group, the controlling shareholder of Zhongqingbao, pledged 1.5 million shares of the company.

  () Announcement: Recently, the company received a letter from Baode Science and Technology Group Co., Ltd., the controlling shareholder of the company, and learned that some of its shares were pledged. The number of shares pledged this time was 1.5 million, accounting for 0.57% of the company’s total share capital.

  Blue Ocean Huateng repurchased 1,316,100 shares at a cost of 15,008,200 yuan.

  () Announcement was issued. As of January 31, 2022, the company repurchased 1,316,100 shares of the company through the special securities account for stock repurchase, with a total amount of 15,008,200 yuan. The cumulative number of shares repurchased accounted for 0.63% of the company’s total share capital, with the highest transaction price of 15.72 yuan/share and the lowest transaction price of 10.60 yuan/share.

  Sannuo Bio bought back 4,561,100 shares at a cost of 122 million yuan.

  () Announcement was issued. As of January 31, 2022, the company repurchased 4,561,100 shares of the company through the special securities account for share repurchase, accounting for 0.81% of the company’s total share capital. The highest transaction price was 29.637 yuan/share, the lowest transaction price was 23.419 yuan/share, and the total transaction amount was 122 million yuan (excluding transaction fees).

  Sega Technology spent 12.159 million yuan to buy back 1.5 million shares.

  () Announcement was issued. As of January 31, 2022, the company had repurchased 1.5 million shares, accounting for 0.5942% of the company’s total share capital. The highest transaction price of repurchased shares was 8.46 yuan/share, and the lowest transaction price was 7.66 yuan/share, with a total turnover of 12.159 million yuan (excluding related transaction costs).

  Tailong shares have not been repurchased as of January 31st.

  () Announcement was issued. As of January 31, 2022, the company’s special securities repurchase account has not yet implemented the operations related to this share repurchase.

  Gaolan shares have spent 30.054 million yuan to buy back 3.3716 million shares.

  () Announcement was issued. As of January 31st, 2022, the company repurchased 3,371,600 shares of the company by centralized bidding, accounting for 1.20% of the company’s total share capital. The highest transaction price was 13.93 yuan/share, the lowest transaction price was 7.68 yuan/share, and the total amount paid was 30.054 million yuan.

  Sun Jianxi, the actual controller of Dagang Holdings, released the pledge of 18 million shares.

  () Announcement was issued. On February 6, 2022, the company received a notice from Ms. Chien Sun Xi, the controlling shareholder and actual controller, and learned that some of its shares pledged to Guotai Junan Securities Co., Ltd. had been deregistered in China Securities Depository and Clearing Co., Ltd. on January 28, 2022, and 18 million shares were released this time, accounting for 21.26% of its shares and 5.67% of its total share capital.

  Wang Yong, a shareholder of Kaifa Electric, has reduced his holdings of 650,000 shares for more than half of the time.

  () Announcement. Recently, the company received the Notice Letter on Share Reduction issued by shareholder Wang Yong. As of the disclosure date of the announcement, shareholder Wang Yong has reduced the company’s share holdings by 650,000 shares, and the planned reduction time has been more than half.

  Oriental Yuhong has spent 102 million yuan to buy back 2,530,600 shares.

  () Announcement was issued. As of January 31, 2022, the company has repurchased 2,530,600 shares by centralized bidding through the special securities repurchase account, accounting for 0.10% of the company’s total share capital. The highest transaction price was 4.890 yuan/share, the lowest transaction price was 3.724 yuan/share, and the total transaction amount was 102 million yuan.

  Junyuan Pharmaceutical, a subsidiary of Saisheng Pharmaceutical, passed the on-site compliance inspection of drug GMP.

  () Announcement: Recently, the company received the notice of the GMP compliance inspection result (No.:Liao 22010002) of Shenyang Junyuan Pharmaceutical Co., Ltd. (hereinafter referred to as "Junyuan Pharmaceutical"), and now the relevant information is announced as follows: Junyuan Pharmaceutical passed the GMP on-site compliance inspection, indicating that the three dosage forms production lines of Junyuan Pharmaceutical meet GMP requirements. It is conducive to improving the company’s product structure, improving production capacity and expanding market scale, and has a positive role in promoting the company’s stable development in the future.

  Mona Lisa has not yet implemented share repurchase.

  () Announcement, as of January 31, 2022, the company has not implemented share repurchase.

  Tan Fenfang, supervisor of Lier Chemical, reduced his holdings by 30,100 shares by more than half.

  () Announcement was issued. On February 7, 2022, the company received the Notice Letter on the Progress of Share Reduction Plan from Ms. Tan Fenfang, the supervisor. As of January 28, 2022, more than half of the shares were reduced as disclosed in the above pre-disclosure announcement, and the company reduced its shares by 30,100 shares, accounting for 0.0057% of the company’s total share capital.

  Open medical treatment: "electronic lower digestive tract endoscope" obtained medical device registration certificate.

  A medical announcement was issued. One of the company’s medical device products has been approved by Guangdong Drug Administration, and the People’s Republic of China (PRC) Medical Device Registration Certificate has been obtained recently. The approval date of the certificate is January 27th, 2022, the effective date is January 27th, 2022, and the validity period is January 26th, 2027. The registration certificate number is Yue Xie Zhu Zhun 2022060099, and the product name is Dianxia.

  OCT A: Qianhai Life Insurance reduced its shareholding by 0.58%.

  OCT A announced on the evening of February 7 that the shareholder Qianhai Life Insurance and the concerted action person Qi Shenghua had reduced their holdings by more than half, and Qianhai Life Insurance reduced its holdings by 47.74 million shares, accounting for 0.58% of the total share capital.

  Li Rong, deputy general manager of World Bank, received a warning letter from the Securities Regulatory Bureau and a supervision letter from the Exchange.

  On February 6th, Shenzhen () Group Co., Ltd. (hereinafter referred to as "World Bank") announced that the senior management of the company had received the warning letter from Shenzhen Securities Regulatory Bureau and the supervision letter from Shenzhen Stock Exchange.

  According to the announcement, World Bank recently received the Decision of Shenzhen Securities Regulatory Bureau on Taking Measures to Issue a Warning Letter to Li Rong issued by Shenzhen Supervision Bureau of China Securities Regulatory Commission (hereinafter referred to as the Warning Letter) and the Supervision Letter on Li Rong, Deputy General Manager of Shenzhen World Bank Group Co., Ltd. issued by Shenzhen Stock Exchange (hereinafter referred to as the Supervision Letter).

  According to the Warning Letter, during his tenure, Yong-Jae Lee, deputy general manager of World Bank, reduced his holdings of about 110,000 shares of the company through centralized bidding on the exchange on September 1, 2021, with a reduction ratio of 0.0054%. As a senior manager of the company, Li Rong did not report to the stock exchange and disclose the reduction plan in advance 15 trading days before the reduction of the above shares, which violated the provisions of Article 8, paragraph 1, of Several Provisions on the Reduction of Shares by Shareholders and Directors of Listed Companies.

  According to the announcement, after receiving the Warning Letter and Supervision Letter, Li Rong attached great importance to the problems pointed out in it, and said that he would fully learn from the lessons, earnestly strengthen the study of relevant laws, regulations and normative documents such as the Securities Law, the Company Law, the Stock Listing Rules, further improve the awareness of standardized operation, strictly regulate the stock trading behavior, and prevent such incidents from happening again.

  Lear Chemical does not redeem "Lear Convertible Bonds" in advance.

  Lear Chemical announced that the company held the 19th meeting of the 5th Board of Directors on February 7th, 2022, and reviewed the Proposal on Whether to Exercise the Redemption Right of Lear Convertible Bonds. After full discussion and voting by all directors, considering that the conversion time of Lear Convertible Bonds is relatively short, and considering the current market situation, the directors attending the meeting unanimously voted not to exercise the redemption right, so the board of directors decided not to exercise the early redemption right of Lear Convertible Bonds this time.

  At the same time, according to the Measures for the Administration of Convertible Corporate Bonds of CSRC and the relevant requirements of Shenzhen Stock Exchange, during the period from February 8, 2022 to May 7, 2022, if "Lier Convertible Bonds" triggers the redemption clause again, they will not exercise this right and will not redeem "Lier Convertible Bonds" in advance.

  Deyi Wenchuang has not yet implemented this share repurchase plan.

  () Announcement, as of the end of January 2022, the company has not implemented this share repurchase plan.

  Kangli Elevator has spent 30,048,600 yuan to repurchase 3,888,500 shares.

  () Announcement was issued. As of January 31, 2022, in this repurchase scheme, the company repurchased 3,888,500 shares of the company by centralized auction trading through the repurchase special securities account, accounting for 0.49% of the company’s total share capital before the implementation of the share repurchase scheme. The highest transaction price was 8.10 yuan/share, the lowest transaction price was 7.38 yuan/share, and the total transaction amount was 30,048,600 yuan.

  Shenkai shares spent 62.5276 million yuan to buy back 10 million shares.

  () Announcement was issued. As of January 31, 2022, the company repurchased 10 million shares of the company through the special securities account for share repurchase, accounting for 2.75% of the company’s total share capital. The highest transaction price was 6.78 yuan/share, the lowest transaction price was 5.77 yuan/share, and the total transaction amount was 62.5276 million yuan (including transaction costs).

  Ningbo Huaxiang repurchased 496,600 shares at a cost of 9,997,100 yuan.

  () Announcement was issued. As of January 31, 2022, the company repurchased 496,600 shares of the company by centralized bidding through the special securities account for repurchasing shares, accounting for 0.061% of the company’s current total share capital. The highest transaction price was 20.22 yuan/share, the lowest transaction price was 19.99 yuan/share, and the total transaction amount was 9,997,100 yuan (excluding transaction costs).

  Huaxia Airlines has repurchased 4.63 million shares at a cost of 50.0458 million yuan.

  () Announcement was issued. As of January 31st, the company repurchased 4.63 million shares by centralized bidding through the special securities account, accounting for 0.4568% of the company’s total share capital. The highest transaction price of repurchased shares was 12.21 yuan/share, and the lowest transaction price was 9.99 yuan/share, and the total paid amount was 50.0458 million yuan.

  The listing review of the initial public offering of Livzon Group’s shareholding companies was suspended.

  () Announcement, the company recently learned that Tianjin () Group Co., Ltd. (hereinafter referred to as "Tianjin Tongren"), the company’s shareholding company, recently received the Notice of Tianjin Tongren _IPO_ Access Project Suspension issued by Shenzhen Stock Exchange (hereinafter referred to as "Shenzhen Stock Exchange"). XinYong Zhonghe Certified Public Accountants (special general partnership), an accountant hired by Tianjin Tongren for initial public offering and listing on the Growth Enterprise Market, was put on file for investigation by the China Securities Regulatory Commission. According to the relevant provisions of Article 64 of the Rules for the Examination of Stock Issuance and Listing on the Growth Enterprise Market of Shenzhen Stock Exchange, the Shenzhen Stock Exchange suspended the examination of Tianjin Tongren’s IPO and listing on January 26, 2022.

  Asia Pacific was selected as the supplier of ABS actuators for SUV models of a foreign customer.

  () Announced, the company recently received a notice from a domestic trading company that the company has been selected as the supplier of ABS actuators (including acceleration sensors) for an SUV model of a foreign customer. After receiving the notice, the company will immediately carry out the follow-up work and actively promote it according to the requirements of customers.

  Fu Hongbing, Vice President of Yanghe, retired.

  () Announcement. Recently, the board of directors of the company received the "Resignation Application" from Mr. Fu Hongbing, the vice president of the company. Mr. Fu Hongbing applied to resign as the vice president of the company because he reached the legal retirement age, and he no longer held any position in the company after his resignation.

  Asia-Pacific shares: qualified for supporting projects.

  Asia Pacific announced on the evening of February 7 that the company had recently received a notice from a domestic trading company that the company had been selected as the supplier of ABS actuators (including acceleration sensors) for an SUV model of a foreign customer.

  Bian Ruiqun, director of Yashi Optoelectronics, intends to reduce his holdings by no more than 1.881 million shares.

  () Announced that Ms. Bian Ruiqun, the company’s shareholder, director and senior manager, plans to reduce her holdings of the company’s shares by centralized bidding and block trading within 180 days after 15 trading days from the date of this announcement, accounting for no more than 1.881 million shares, accounting for no more than 1.1446% of the company’s total share capital.

  Ma Tianyuan, general manager of Honghui New Materials, intends to reduce his holdings by no more than 28,100 shares.

  () Announced, Mr. Ma Tianyuan, the general manager of the company, plans to reduce his holding of no more than 28,100 shares by centralized bidding within six months after 15 trading days from the disclosure date of this announcement, accounting for 0.03% of the company’s total share capital.

  Jinfei Kaida did not repurchase shares in January.

  () Announced that during the period from January 1, 2022 to January 31, 2022, the company did not repurchase shares.

  Guizhou Tire: 7.352 million restricted shares will be listed and circulated on February 11th.

  () Announced a suggestive announcement about the first release of restricted shares in the restricted stock incentive plan in 2019. This time, there were 443 incentive targets who met the conditions for the release of restricted shares, and the number of shares that could be released was 7.352 million, accounting for 0.77% of the company’s current total share capital. The listing and circulation date was February 11, 2022.

  Keming Food repurchased 1,231,500 shares at a cost of 13,260,300 yuan.

  () Announcement was issued. As of January 31st, 2022, the company repurchased 1,231,500 shares by centralized bidding through the special securities account for stock repurchase, accounting for 0.37% of the company’s total share capital at present. The average transaction price was 10.77 yuan/share, the lowest price was 10.15 yuan/share, the highest price was 11.18 yuan/share, and the total payment was 13,260,300 yuan.

  Yanjinpuzi: The controlling shareholder once again made an additional commitment to extend the lock-up period for 2 years.

  On the afternoon of February 7th, () announced the additional commitment of the controlling shareholder of the company. The announcement showed that Yanjinpuzi Food Co., Ltd. recently received the Letter of Commitment on Additional Share Lock-up Period issued by Hunan Yanjinpuzi Holding Co., Ltd. (holding 48,381,503 shares of the company, accounting for 37.40% of the company’s total share capital). Based on the recognition of the company’s long-term value and confidence in the company’s future development, Hunan Yanjin Puzi Holding Co., Ltd. voluntarily extended the lock-up period for 2 years to February 11, 2024 for the shares of the company that have been released from the lock-up period for 2 years.

  (Editor: Xu Yuting)

  Gao Jian, director of Hanjia Design, intends to reduce his holdings by no more than 1 million shares.

  () Announcement, Mr. Gao Rebuilding, the director of the company, plans to reduce the company’s shares by centralized bidding within 6 months after 15 trading days from the disclosure date of this announcement, with a total reduction of no more than 1 million shares (accounting for 0.44% of the company’s total share capital).

  Wanshun New Materials bought back 21,204,500 shares at a cost of 102.6 million yuan.

  () Announcement was issued. As of January 28th, 2022, the company has repurchased 21,204,500 shares of the company by centralized auction trading through the special stock repurchase account, accounting for 3.10% of the company’s total share capital on January 28th, 2022 (without deducting the shares in the special repurchase account). The highest repurchase price is 5.00 yuan/share, the lowest repurchase price is 4.53 yuan/share, and the total turnover is 1.

  Hexing Packaging has spent 71.09 million yuan to buy back 20.1 million shares.

  () Announcement was issued. As of January 31, 2022, the second phase of the company’s repurchase plan repurchased 20.1 million shares of the company by centralized auction trading through repurchase special securities accounts, accounting for 1.62% of the company’s current total share capital, of which the highest transaction price was 3.75 yuan/share, the lowest transaction price was 3.35 yuan/share, and the total transaction amount was 71.09 million yuan.

  Yashi Optoelectronics: The controlling shareholder promises not to reduce the company’s shares during a specific period.

  Yashi Optoelectronics announced on the evening of February 7 that Yashi Optoelectronics (Hong Kong) Co., Ltd., the controlling shareholder, currently holds 60,223,500 shares of the company, accounting for 366,457% of the company’s total share capital, and the above shares are planned to be lifted on March 27. Yashi Optoelectronics (Hong Kong) Co., Ltd. promises not to reduce its shares in listed companies in any way within 12 months from the date when the restrictions on the sale of its shares are lifted.

  Azure Lithium Core Company received a government subsidy of 105 million yuan.

  () Announced that Tianpeng Lithium Energy Technology (Huai ‘an) Co., Ltd. (hereinafter referred to as "Tianpeng Lithium Energy"), a wholly-owned subsidiary of the company, recently received 91,361,800 yuan of industrial development support funds allocated by the financial payment center of Qingjiangpu District of Huai ‘an City, which is a government subsidy related to assets. Tianpeng Lithium Energy has actually received the funds and will be confirmed as deferred revenue.

  At the same time, Huai ‘an Aoyang Shunchang Optoelectronic Technology Co., Ltd. (hereinafter referred to as "Huai ‘an Optoelectronic"), a holding subsidiary, recently received a total of 13,767,600 yuan from the financial payment center of Qingjiangpu District of Huai ‘an City, which is a government subsidy related to income. Huai ‘an Optoelectronic has actually received the money and will confirm it as the current income.

  In 2022, the continuous winning bid for construction and repair exceeded 346 million.

  On the afternoon of February 7th, the first day of returning to work during the Spring Festival holiday, Construction Engineering Restoration (SZ300958) issued a bid-winning announcement. Recently, the company received the Notice of Winning Bid from Tianjin Beichen District Land Consolidation Center and Tianjin Pan Asia Engineering Consulting Co., Ltd., informing the consortium formed by the company and Zhongshui North Survey, Design and Research Co., Ltd. to win the bid for the dolphin rubber plot restoration and treatment project, with a contract amount of over 316 million yuan.

  Earlier, the company also successfully won the bid for the plot restoration project of Yancheng Lianfu Petrochemical Co., Ltd. West Plant, with the winning bid amount of 30.7265 million. At the beginning of the new year in 2022, it won an important bid continuously, which showed the company’s strong marketing momentum and greatly boosted the market influence. After the formal contract is signed and implemented smoothly, it is expected to have a positive impact on the company’s performance.

  It is understood that Dolphin Rubber Plot is located in Beichen District, Tianjin, and it is another large-scale site restoration project undertaken and implemented in Tianjin after Tianjin pesticide plant Plot Restoration Project, Tianjin Heiniucheng Road Plot Restoration Project and Tianjin Reagent No.1 Factory Plot Restoration Project. There are petroleum hydrocarbons, polycyclic aromatic hydrocarbons and monocyclic aromatic hydrocarbons in the soil and groundwater of this plot, which is a typical industrial pollution site remediation project. Based on the plane and three-dimensional analysis of the survey data, combined with the land use planning, the project plans to adopt the combined restoration mode of "multi-process combination and deep management and control" to restore by layers and pollution types. At the same time, the project will also build the first large-scale NAPLs (non-aqueous liquid) recovery project in China, which will comprehensively demonstrate the technical and engineering capabilities of engineering restoration and consortium in multi-technology collaboration, fine modeling and efficient NAPLs recovery of contaminated sites, and provide comprehensive solutions for the remediation and treatment of similar contaminated sites in China.

  The land parcel restoration project of Yancheng Lianfu Petrochemical Co., Ltd. is located in the core area of Yancheng North Development. The main pollutants in the land parcel soil are antimony, arsenic, thallium, vanadium and severe alkalization, and the pollutants in the groundwater are volatile phenol, xylene and petroleum hydrocarbons C6-C9. The restoration of construction works will implement "soil and water co-governance" for this plot. According to the future land use plan, after the land restoration is completed, it will meet the standards for residential land, commercial land and park green space specified in the Soil Environmental Quality Construction Land Soil Pollution Risk Control Standard (Trial) (GB36600-2018).

  The two winning bids in the new year of 2022 show the excellent marketing ability and technical engineering strength of Construction Engineering Restoration in the field of site restoration, which is an important achievement of the company’s continuous deepening of its main business and its efforts to build a leading integrated environmental restoration service provider. In the future, the company will persist in creating value by service, lead the industry by innovation, help more cities and regions to transform and upgrade, and achieve green and sustainable development.

  Central asia shares bought back 621,300 shares at a cost of 7,990,900 yuan.

  () Announcement was issued. As of January 31, 2022, the company repurchased 621,300 shares of the company through the stock repurchase special securities account, accounting for 0.23% of the company’s total share capital. The highest transaction price was 14.73 yuan/share, the lowest transaction price was 12.32 yuan/share, and the total transaction amount was 7,990,900 yuan (excluding transaction costs).

  There is no violation of fair disclosure of information in the stock price change of Hengli Industry.

  () Announced that the deviation of the closing price of the company’s shares for three consecutive trading days (January 27, January 28 and February 7, 2022) has reached more than 20%, which is an abnormal fluctuation of stock trading according to the relevant provisions of the Listing Rules of Shenzhen Stock Exchange.

  After self-examination, the company did not violate the fair disclosure of information.

  * Liu Wei, shareholder of ST Schwab, reduced his holdings of 1.02 million shares by more than half.

  () Announcement was issued. Previously, due to a loan contract dispute between Mr. Liu Wei and Mr. Lu Fanhua, the court decided to dispose of some company shares held by Mr. Liu Wei by judicial means, and Huatai Securities Co., Ltd. (hereinafter referred to as "Huatai Securities") assisted in the implementation. Up to now, Mr. Liu Wei has reduced his shareholding by more than half, and he reduced his shareholding by 1.02 million shares, accounting for 0.11% of the company’s total share capital.

  The new open source repurchased 4,497,700 shares at a cost of 85,944,600.

  () Announced that by January 31st, 2021, the company had bought back 4,497,700 shares through centralized bidding, accounting for 1.3089% of the company’s total share capital. The highest transaction price of the repurchased shares was 22.98 yuan/share, and the lowest transaction price was 18.00 yuan/share, with a total transaction amount of 85,944,600 yuan (excluding transaction costs).

  Jilin Aodong Holding Company has obtained the listing record certificate of traditional Chinese medicine formula granules.

  () Announced, recently, Yanbian Pharmaceutical, a holding subsidiary of the company, received the Certificate of Listing and Filing of Traditional Chinese Medicine Formula Granules from eight national standards. As the core enterprise of the company, Yanbian Pharmaceutical Co., Ltd. has certain advantages in the field of traditional Chinese medicine. As of the date of publication of the announcement, it has obtained 99 certificates for listing and filing of Chinese medicine formula granules, which is of great significance for the company to expand its business of Chinese medicine formula granules, creating favorable conditions for the company’s sustainable development and further enhancing its core competitiveness.

  Fenglong shares were re-recognized by high-tech enterprises.

  () Announcement, the company recently received the Certificate of High-tech Enterprise jointly issued by Zhejiang Science and Technology Department, Zhejiang Finance Department and Zhejiang Taxation Bureau of State Taxation Administration of The People’s Republic of China (certificate number: GR202133009277), which was issued on December 16, 2021 and was valid for three years. This time, the company’s original high-tech enterprise certificate was re-recognized upon expiration.

  Yanbian Pharmaceutical Co., Ltd., a subsidiary of Aodong, Jilin Province, obtained the approval notice for the supplementary application of Shengmaiyin (Dangshen prescription)

  Jilin Aodong issued an announcement. Recently, Yanbian Pharmaceutical Co., Ltd., a holding subsidiary of the company, received the Notice of Approval for Drug Supplement Application for Shengmai Drink (Dangshen Fang) issued by National Medical Products Administration. After examination, it was approved that the holder of the marketing license for this product was changed from Luoyang Ningzhu Pharmaceutical Co., Ltd. (address: industrial cluster area of Luoning County, Henan Province) to Jilin Aodong Yanbian Pharmaceutical Co., Ltd. (address: No.2158, Aodong Street, Dunhua City, Jilin Province) The transferred drugs can be marketed if they meet the requirements of product release after passing the conformity inspection in good manufacturing practice. The production site, prescription, production process and quality standard of the transferred drug are consistent with the original drug and will not be changed.

  Yanbian Pharmaceutical Co., Ltd., a holding subsidiary of the company, obtained the Notice of Approval for Drug Supplement Application of Shengmai Drink (Dangshen Prescription), which increased the variety of products of the company and created favorable conditions for the further development of Yanbian Pharmaceutical Co., Ltd.

  Chuanhua Zhilian bought back 23,929,900 shares at a cost of 200 million yuan.

  () Announcement was issued. As of January 31, 2022, the company had repurchased 23,929,900 shares, accounting for 0.78% of the company’s total share capital. The highest transaction price was 9.224 yuan/share, the lowest transaction price was 7.940 yuan/share, and the total transaction amount was 200 million yuan (excluding transaction costs).

  Baibang Technology repurchased 2.395 million shares at a cost of 29.8014 million yuan.

  () Announcement was issued. As of January 31st, 2022, the company repurchased 2.395 million shares of the company by centralized bidding through the special securities account for share repurchase, accounting for 1.84% of the company’s current total share capital. The highest transaction price was 13.48 yuan/share, the lowest transaction price was 11.16 yuan/share, and the total transaction amount was 29.8014 million yuan (excluding transaction costs).

  Weitang Industry obtained patent authorization.

  () Announced that the company recently received a notice of granting utility model patents from China National Intellectual Property Administration, and seven utility model patents applied by the company to China National Intellectual Property Administration have been approved.

  Huasheng Baili, the major shareholder of Tongda Co., Ltd., has not reduced its holdings by more than half through block trading.

  () Announcement: As of February 4, 2022, Huasheng Baili Investment Development (Beijing) Co., Ltd. ("Huasheng Baili"), a shareholder holding 10.95% of the company’s shares, has spent more than half of its time in reducing its shareholding by block trading, and it has not reduced its shareholding.

  Soil remediation market "gets off to a good start", construction and restoration accelerate "value transformation"

  On February 7th, the announcement of construction project restoration said that the company received the Notice of Winning Bid from Tianjin Beichen District Land Consolidation Center and Tianjin Pan-Asia Engineering Consulting Co., Ltd., informing the consortium formed by the company and Zhongshui North Survey, Design and Research Co., Ltd. to win the bid for the dolphin rubber plot restoration and treatment project, with a bid amount of about 317 million yuan and a construction period of 18 months from the date of signing the contract.

  It is reported that since 2022, construction engineering restoration has successively won the bid for Tianjin Dolphin Rubber Plot Restoration Project and Yancheng Lianfu Petrochemical Co., Ltd. West Plant Plot Restoration Project, with a total contract amount of about 346 million yuan, laying a good foundation for sprinting the business target in 2022.

  It is understood that the actual controller of construction repair is the Beijing State-owned Assets Supervision and Administration Commission, which landed on the Growth Enterprise Market in March 2021. It is the first concept stock mainly engaged in environmental repair business in the A-share market. As one of the earliest companies specializing in environmental restoration services in China, the construction engineering restoration after listing is accelerating the construction of comprehensive environmental restoration service layout.

  A few days ago, the 2021 Science and Technology Promotion Award of China Academy of Sciences was announced, and the scientific research team of "Key Technologies and Applications of Industrial Contaminated Site Restoration" participated in the construction project restoration successfully won the award. This is after winning the 2021 environmental technology progress award, the scientific and technological innovation strength of construction repair has once again been recognized by the authority. Supported by the scientific and technological service capabilities of leading industries, the company has a strong momentum to accelerate the value transformation of the environmental restoration industry chain.

  Gao Yanli, vice president of China Environmental Protection Industry Association and general manager of construction engineering restoration, said: "With the diversification of environmental restoration and governance needs, the industry’s head enterprises will turn to the regional environmental comprehensive management service model through the combination of capital, market and specialty, especially to improve their operational capabilities, which will help fully release industrial value."

  In 2021, the first batch of six "Environmental Hospital" service model pilot projects in Shandong Province were officially approved, and two projects, "Qingdao Environmental Hospital" and "Qilu Cloud Environmental Hospital", which were jointly declared for construction and restoration, were successfully selected, deepening model innovation in the field of remediation of contaminated sites with first-Mover advantages, and providing environmental policy consultation, diagnosis of environmental problems, system solutions, investment and financing of engineering construction, engineering design and construction, commissioning and operation for the government, enterprises and the public. At the same time, the company established an emergency disposal center for contaminated soil and groundwater in Yanziji New Town, Nanjing, explored the path of productization of contaminated soil, systematically solved the problem of regional pollution prevention and control, and opened up the market space for environmental restoration and operation.

  Focusing on the "14th Five-Year Plan" of the country and the goal of carbon neutrality in peak carbon dioxide emissions, construction and restoration have frequently fallen into the business direction of ecological restoration. At the Global Coastal Forum, the company reached a strategic cooperation with Jiangsu Huanghai Wetland Research Institute to jointly build an experimental base for wetland purification and restoration, carry out research and development of key technologies and tackle key scientific problems, and make classified policies around different characteristics and governance needs of river and lake wetlands, coastal wetlands and urban wetlands, so as to scientifically promote the landing of wetland restoration projects. In Kunming, Yunnan Province, the project of comprehensive management of abandoned open-pit mines in the Yangtze River Economic Belt in Yunnan Province was undertaken for construction engineering restoration. Based on the achievements of material research and development, phosphogypsum was explored for soil improvement and pit filling, and ecological restoration and solid waste disposal were combined to realize the transformation of ecological benefits and economic benefits, and a model of "solid waste utilization+mine restoration" was created.

  Li Shupeng, Secretary-General of Soil and Groundwater Committee of China Environmental Protection Industry Association and Deputy General Manager of Construction and Rehabilitation, said that during the "Tenth Five-Year Plan" period, with the joint promotion of policy guidance, technological innovation and financial empowerment, the soil remediation industry will enter a new stage of orderly, centralized and standardized development, and the soil remediation industry is expected to usher in greater development space.

  The research reports issued by many institutions confirmed this judgment. Huajin Securities once predicted that the total market space in the three major areas of industrial contaminated site remediation, soil remediation in mining areas and cultivated land remediation could reach several trillion yuan in the future.

  Jiajia Food has spent 20.317 million yuan to buy back 3.2648 million shares.

  () Announcement was issued. As of January 31, 2022, the company repurchased 3,264,800 shares by centralized bidding through the special securities account, accounting for 0.28% of the company’s total share capital. The highest transaction price was 6.29 yuan/share, the lowest price was 6.11 yuan/share, and the total transaction amount was 20.317 million yuan (including transaction costs).

  Wansheng Intelligent won the bid for the bidding project of related metering products of China Southern Power Grid, involving 44,231,100 yuan.

  () Announcement: On January 25th, 2022, China Southern Power Grid Co., Ltd. announced the results of the second batch of frame bidding projects of China Southern Power Grid Corporation’s metering products in 2021 on the unified service platform of China Southern Power Grid Supply Chain. The company is one of the successful bidders for the above projects. According to the pre-bid quantity and quotation, it is estimated that the total bid amount is about 44,231,100 yuan.

  Recently, the company received the Notice of Winning Bid from China Southern Power Grid Materials Co., Ltd., the tendering agency of China Southern Power Grid Co., Ltd.

  Aodong, Jilin Province: The subsidiary has obtained 8 certificates for listing and filing of traditional Chinese medicine formula granules.

  Jilin Aodong announced on the evening of February 7 that Yanbian Pharmaceutical, a holding subsidiary of the company, recently received the "Certificate of Listing and Filing of Traditional Chinese Medicine Formula Granules" from eight national standards. Up to now, Yanbian Pharmaceutical Co., Ltd. has obtained a total of 99 Certificates for Listing and Filing of Traditional Chinese Medicine Formula Granules.

  Moen Electric applied for a working capital loan of 115 million yuan from the bank.

  () Announce, in order to promote the business development of the company, optimize the financial structure and meet the daily capital demand, the company plans to use the company’s workshops (Property Ownership CertificateNo.: Hu (2021) Zi Real Estate Ownership No.000443, with a construction area of 54454) located in the whole building of No.669 Cenglin Road, No.268 Feizhou Road and No.268 Tian Snowy Road.

  Yiwei Lithium Energy has spent 100 million yuan to buy back 1,372,400 shares.

  () Announcement was issued. As of January 31, 2022, the company has repurchased 1,372,400 shares by centralized bidding through the special securities account for share repurchase, with the highest transaction price of 75.20 yuan/share, the lowest transaction price of 71.00 yuan/share and the total transaction amount of 100 million yuan.

  Xi’ an Tourism’s affiliated stores resumed operations in an orderly manner.

  () Announced that at present, the epidemic prevention and control work in Xi ‘an has achieved remarkable results. In accordance with the spirit of the document of the provincial and municipal governments on promoting the resumption of production and work in an orderly manner, the company actively responded to the call and continued to focus on epidemic prevention and control and production and operation. The hotel business and commercial business of the company have resumed normal business one after another; The travel agency business will continue to strictly implement the requirements of the Xi ‘an Municipal Government on epidemic prevention and control, and make preparations for the gradual resumption of business.

  Yiwei Lithium Energy plans to build Huizhou 100 billion-level new energy battery industry cluster.

  Yiwei Lithium Energy announced that on January 29, 2022, the company signed the Strategic Cooperation Framework Agreement with Huizhou Municipal People’s Government. The two sides will deepen strategic cooperation, thoroughly implement the national strategic plan of "peak carbon dioxide emissions, Carbon Neutralization", build a new energy battery industry cluster with a level of 100 billion in Huizhou, and support the company’s further development and growth.

  The Strategic Cooperation Framework Agreement signed this time is only an intentional document for both parties to carry out strategic cooperation, and the specific cooperation content will be stipulated in a separate contract, which is still uncertain.

  Asia-Pacific shares have obtained supporting qualifications for the project.

  Asia Pacific shares announced that the company recently received a notice from a domestic trading company that the company has been selected as the supplier of ABS actuators (including acceleration sensors) for SUV models of a foreign customer. After receiving the notice, the company will immediately carry out the follow-up work and actively promote it according to the requirements of customers.

  The cumulative repurchase of 1,659,800 shares of national porcelain materials cost 67,207,800 yuan.

  () Announcement was issued. As of January 31, 2022, the company repurchased 1,659,800 shares of the company through the special securities account for stock repurchase, accounting for 0.1654% of the company’s total share capital. The highest transaction price was 41.68 yuan/share, the lowest transaction price was 39.64 yuan/share, and the total transaction amount was 67,207,800 yuan (excluding transaction costs).

  There are no major events that should be disclosed but not disclosed in the stock price change of Wan Liyang.

  () It was announced that the closing price of the company’s stock trading on January 27, January 28 and February 7, 2022 had fallen by more than 20%, which was an abnormal fluctuation of stock trading according to the relevant regulations of Shenzhen Stock Exchange.

  Upon inquiry to the management, controlling shareholder and actual controller of the company, there are no major matters about the company that should be disclosed but not disclosed, or major matters in the planning stage.

  24.295 million restricted shares of Shang Rong Medical were listed and circulated on February 11th.

  () Issue an announcement to lift the restricted shares from listing and circulation on February 11, 2022.

  The number of restricted shares of RMB ordinary shares (A shares) released this time is 24.295 million shares, accounting for 2.8762% of the company’s total shares at present, which is the restricted circulation shares issued by the company’s non-public offering of shares in 2020.

  Tapai Group spent 236 million yuan to buy back 21,849,100 shares.

  () Announcement was issued. As of January 31, 2022, the company repurchased 21,849,100 shares through the special securities account for share repurchase by centralized bidding, accounting for 1.83% of the company’s total share capital. The highest transaction price was 11.39 yuan/share, the lowest transaction price was 9.88 yuan/share, and the total amount paid was 236 million yuan (including transaction fees).

  Hengyi Petrochemical repurchased 23.8394 million shares at a cost of 250 million yuan.

  () Announcement was issued. As of January 31st, 2022, the company repurchased 23,839,400 shares by centralized bidding through the special securities account, accounting for 0.65% of the company’s total share capital. The highest transaction price of the purchased shares was 10.69 yuan/share, and the lowest transaction price was 10.13 yuan/share, and the total repurchase amount paid was 250 million yuan (excluding commission, transfer fees and other transaction fees).

  Sanlian Hongpu signed a daily operation contract of 70.276 million yuan.

  () Announced that the company recently signed a high-quality differential nylon 6-FDY spinning project contract with Sanning Chemical, with a contract amount of 70.276 million yuan, accounting for 8.03% of the company’s audited operating income in 2020. The successful implementation of the contract will have a positive impact on the company’s performance in the next 1-2 years.

  The strong cooperation between the two parties will help Sanning Chemical to further optimize the layout of caprolactam-integrated new material industrial chain cluster, enrich the product diversification structure, and have strong demonstration value for the high-quality green development of polyamide industry; At the same time, it will further consolidate the company’s competitive advantage in the field of nylon 6 spinning service and play a positive role for the company to gain greater market share in the future.

  Xie Limin, vice chairman of Yantang Dairy, intends to reduce the holding of no more than 98,100 shares of the company.

  () Announced that the company received the Letter of Notice on Share Reduction Plan issued by Mr. Xie Limin, the vice chairman of the company, on February 7, 2022. Mr. Xie Limin, the vice chairman who holds 392,400 shares of the company (accounting for 0.2494% of the company’s total share capital), plans to reduce the company’s shares by centralized bidding within 6 months after 15 trading days from the date of this announcement (accounting for 0.0623% of the company’s total share capital).

  Jitai shares spent 12.3218 million yuan to buy back 1.6886 million shares.

  () Announcement was issued. By January 31st, 2022, the company had bought back 1,688,600 shares of the company by centralized bidding, accounting for 0.453% of the company’s total share capital at present. The highest transaction price was 7.39 yuan/share, the lowest transaction price was 7.12 yuan/share, and the transaction amount was 12,321,800 yuan (excluding transaction costs).

  Langxin Technology: The conditional redemption clause of "Langxin Convertible Bonds" may be triggered in the future.

  () Announced that from January 18, 2022 to February 7, 2022, the closing price of the company’s shares has exceeded 130% of the current conversion price (15.39 yuan/share) for 10 trading days. Subsequent conditional redemption clauses of "Langxin Convertible Bonds" may be triggered.

  Weikawei, the shareholder of Jingwei, Germany, has reduced its shareholding by 2% and intends to continue to reduce its shareholding in the company.

  () Announced that as of February 2, 2022, the period of the German Weikawei reduction plan expired. During the implementation of the reduction plan, Germany Weikawei reduced its holdings of 29,999,999 shares through centralized bidding, accounting for 2% of the company’s total share capital.

  In addition, Germany Weikawei plans to reduce its holdings by no more than 30 million shares within 180 days after 15 trading days from the disclosure date of the suggestive announcement, that is, no more than 2% of the company’s total share capital; The number of holdings reduced through block trading shall not exceed 60 million shares, that is, it shall not exceed 4% of the company’s total share capital.

  Yanghe shares: Fu Hongbing retired at age and resigned as vice president.

  On February 7, Jiangsu Yanghe Distillery Co., Ltd. (hereinafter referred to as "Yanghe") announced that recently, the board of directors of the company received the "Resignation Application" from Fu Hongbing, the vice president of the company. Fu Hongbing applied to resign from the position of vice president of the company because he reached the legal retirement age, and he no longer held any position in the company after resigning. According to the relevant laws and regulations and the company system, Fu Hongbing’s resignation application takes effect when it is delivered to the company’s board of directors.

  According to the announcement, Fu Hongbing does not directly hold the company’s stock, but holds 0.3636% of the shares of Jiangsu Blue Alliance Co., Ltd. (Jiangsu Blue Alliance Co., Ltd. currently holds 17.58% of the shares of Yanghe, making it the second largest shareholder of the company).

  As of the close of February 7, Yanghe’s share price was 162.9 yuan, up 4.19% on that day, with a total market value of 245.488 billion yuan.

  Editor Zheng Mingzhu proofreads Li Ming.

  Energy-saving man of iron signed the construction contract of comprehensive upgrading project around Dongguan Weiyuan Island Naval War Museum.

  () Announcement, the company recently received the Construction Contract of Comprehensive Improvement Project around Weiyuan Island Naval Battle Museum in marina bay New District, Dongguan, Guangdong Province, which was signed with Dongguan marina bay New District Engineering Construction Center (the "Employer") and man of iron Ecological Construction Co., Ltd. (the "man of iron Construction"). The contract price of the project is 108 million yuan, accounting for 2.57% of the company’s audited operating income of 4.211 billion yuan in 2020. The planned project duration is 482 calendar days.

  Tongyu Heavy Industry: Guangjin Meihao Tongyu Haisheng Private Equity Investment Fund’s increase plan has not yet been implemented.

  () Announce that 25 relevant personnel (hereinafter referred to as participants), including some directors, senior managers and other core managers of the company, plan to increase their shares in the company from November 2, 2021 to May 2, 2022 through the contractual private equity fund-"Guangjin Meitong Haiyu Haisheng Private Equity Investment Fund" (hereinafter referred to as "the fund" or "the main body of increase"). There is no price range for this increase plan.

  As of the disclosure date of this announcement, the period of the fund’s shareholding plan has been more than half, and its shareholding plan has not yet been implemented.

  Huanrui Century: The revenue from Bears Coming Back to Earth is about 7.5 million yuan.

  () It was announced on the evening of February 7th. According to incomplete statistics, as of 24: 00 on February 6th, Huanrui (Dongyang) Investment Co., Ltd., a wholly-owned subsidiary of the company, had participated in the joint production of the film "Bears Come Back to Earth", and its box office revenue (including service fee) had exceeded 562 million yuan. As of February 6th, the company’s operating income from the film (currently box office income) was about 7.5 million yuan.

  Energy-saving man of iron pre-won the bid for the renovation and upgrading of rainwater and sewage pipe network in Jinggangshan Scenic Area and the treatment project of Yicui Lake water system.

  Man of iron announced that the company and its wholly-owned subsidiary, man of iron Ecological Construction Co., Ltd. ("man of iron Construction" and "Consortium Leader") formed a bidding consortium, and recently participated in the public bidding of "EPC Project for Renovation and Upgrading of Rainwater and Sewage Pipe Network in Ciping Scenic Area, Jinggangshan, Jiangxi Province". The tenderer of this project is Jinggangshan Scenic Area Administration. According to the information released by Jiangxi Public Resources Trading Network on January 28th, 2022, the bidding consortium composed of the company and man of iron Construction has been listed as the first successful candidate recommended by the bid evaluation committee.

  The announcement shows that the total investment of the project is 165.71 million yuan, and the planned construction period is 150 calendar days. The construction contents are: (1) the renovation and upgrading project of rainwater and sewage pipe network in Ciping Scenic Area of Jinggangshan; (2) The first phase of the water system improvement project of Yicuihu Lake in Ciping Scenic Area of Jinggangshan, including the landscape improvement of Yicuihu Park in Ciping Town.

  Zhongxin Tourism has reduced its holdings of 654,100 repurchased shares.

  () Announcement was issued. As of January 31st, the company has reduced the number of repurchased shares by centralized bidding to 654,100 shares, accounting for 0.0722% of the company’s total share capital. The total amount of funds obtained from the reduction is 4.14 million yuan (excluding transaction costs). The highest price of the reduction is 6.34 yuan/share, the lowest price is 6.30 yuan/share, and the average price of the reduction is 6.33 yuan/share.

  BOE A: It has spent 2.577 billion yuan to buy back 491 million shares of the company.

  BOE A announced on the evening of February 7 that as of January 31, the company had repurchased 491 million A shares, accounting for 1.3090% of the company’s A shares and 1.2771% of the company’s total share capital. The highest transaction price of this repurchase was 5.96 yuan/share, the lowest transaction price was 4.83 yuan/share, and the total payment was 2.577 billion yuan.

  Sanlian Hongpu: signed a spinning project contract of 70.276 million yuan.

  Sanlian Hongpu announced on the evening of February 7 that the company recently signed a contract with Hubei Sanning Chemical Co., Ltd. for a high-quality differentiated nylon 6-FDY spinning project with a contract amount of 70.276 million yuan, accounting for 8.03% of the company’s audited operating income in 2020.

  Zheng Jun, shareholder of Jinxin Nuo, pledged 6.7 million shares.

  () Announcement was issued, and the company recently learned that some shares of shareholder Mr. Zheng Jun have been released from pledge.

  This time, 6.7 million shares were released from pledge, accounting for 16.31% of its shares and 1.16% of the company’s total share capital.

  Tianao Electronics’ related shareholders have reduced their holdings of 37,000 shares for more than half of the time.

  () Announced, as of January 31st, 2022, the implementation time of the reduction plan has been more than half, and the supervisors and senior managers of the company, Huang Hao, Ye Jing, Yin Xiangyan, Chen Jing and Liu Jieji, have been more than half. On February 7th, 2022, the company received the notification letter from the above-mentioned personnel, and reduced their holdings by a total of 37,000 shares.

  The plan to reduce the holding of 240 million shares by shareholders of Xugong Machinery, such as Taiyuan Investment, was completed.

  () Announcement: Recently, the company received the Notice Letter on the Completion of the Implementation of the Share Reduction Plan issued by shareholders Taiyuan Investment and Taixi Investment. Up to now, the above-mentioned reduction plan has been implemented, and the above-mentioned shareholders have reduced their holdings of 240 million shares of the company, accounting for 3.06% of the company’s total share capital.

  Huanrui Century bought back 10,116,700 shares at a cost of 33,995,600 yuan.

  Huanrui Century announced that as of January 31, 2022, the company repurchased 10,116,700 shares of the company with its own funds through the company’s special securities account, accounting for 10,313% of the company’s total share capital. The highest transaction price was 3.50 yuan/share, the lowest transaction price was 3.18 yuan/share, and the total transaction amount was 33,995,600 yuan (excluding transaction fees).

  Meichen Ecology: The subsidiary obtained the notice of designated development of the supplier’s project.

  () On the evening of February 7th, it was announced that Shandong Meichen Industrial Group, a wholly-owned subsidiary, recently received a notice from a customer that Shandong Meichen Industrial Group had become a batch supplier of thermal management circulation system pipelines for a brand-new platform project of a domestic new power brand OEM. The life cycle of this project is 5 years. According to preliminary calculation, the total life cycle is about 387 million yuan.

  Huanrui Century: The cumulative box office income of Bears Coming Back to Earth exceeded 562 million yuan.

  Huanrui Century announced that Huanrui (Dongyang) Investment Co., Ltd., a wholly-owned subsidiary of the company, participated in the joint production of the film "Bears Coming Back to Earth" (hereinafter referred to as "the film"), which has been released in Chinese mainland since February 1, 2022. According to incomplete statistics, as of 24: 00 on February 6th, 2022, the cumulative box office income (including service fee) of the film has exceeded RMB 562 million (there may be errors in the final settlement data), which exceeds 50% of the operating income of the company’s audited consolidated financial statements in the latest fiscal year.

  As of February 6, 2022, the company’s operating income (currently box office income) from the film was about RMB 7.5 million (the final settlement data may have errors). At present, the film is still being released, and the box office income of the film in Chinese mainland area is subject to the statement officially confirmed by the cinemas in Chinese mainland area; At the same time, the film’s copyright sales revenue in Chinese mainland has not been settled.

  Zhang Zulei, director of Jiejie Microelectronics, intends to reduce his holdings by no more than 5.2 million shares.

  () Announced that Mr. Zhang Zulei, the director of the company, plans to reduce the company’s shares by centralized bidding within 6 months (from August 2, 2021 to January 29, 2022) after 15 trading days from the date of the announcement of the reduction plan, accounting for 0.706% of the company’s total share capital.

  Meichen Eco-subsidiary has become a bulk supplier of a new brand in China, involving 387 million yuan.

  Meichen Ecology announced that Shandong Meichen Industrial Group Co., Ltd. (hereinafter referred to as "Industrial Group"), a wholly-owned subsidiary of the company, recently received a notice from a customer, and the industrial group became a batch supplier of thermal management circulation system pipelines for a new platform project of a domestic head new power brand OEM (limited to confidentiality agreement, whose name cannot be disclosed, hereinafter referred to as "customer"). The life cycle of this project is 5 years. According to preliminary calculation, the total life cycle is about 387 million yuan.

  Shanghai Lingyi, the controlling shareholder of Anzhong Co., Ltd., released the pledge of 12.569 million shares.

  () Announcement was issued, and the company learned that part of the shares of the company held by Shanghai Lingyi, the controlling shareholder, had been pledged, and 12,569,000 shares were pledged this time, accounting for 5.44% of the company’s total share capital.

  Changying Precision plans to spend 50 million to 100 million yuan to buy back shares, and the repurchase price does not exceed 20 yuan/share.

  () Announcement, the company intends to buy back shares for the implementation of employee stock ownership plan or equity incentive plan. The amount of this repurchase is not less than RMB 50 million (inclusive) and not more than RMB 100 million (inclusive), and the price of repurchased shares is not more than RMB 20 yuan/share (inclusive).

  Jingsheng electromechanical and its subsidiaries have passed the certification of high-tech enterprises.

  () Announcement, the company and its wholly-owned subsidiary Zhejiang Jingrui Electronic Materials Co., Ltd. (hereinafter referred to as "Jingrui Electronics") and its holding subsidiary Hangzhou Huixiang Electro-hydraulic Technology Development Co., Ltd. (hereinafter referred to as "Huixiang Electro-hydraulic") recently received the High-tech Enterprise Certificate jointly issued by Zhejiang Science and Technology Department, Zhejiang Finance Bureau and State Taxation Administration of The People’s Republic of China Zhejiang Taxation Bureau. The company and its subsidiaries, Jingrui Electronics and Huixiang Electro-hydraulic, passed the re-examination of high-tech enterprises and obtained high-tech enterprise certificates. The certificate numbers are GR202133007256, GR202133008992 and GR202133008342, respectively. The issuing date is December 16, 2021, and the validity period is three years.

  According to the Administrative Measures for the Identification of High-tech Enterprises, the Enterprise Income Tax Law of People’s Republic of China (PRC) and other relevant regulations, the company and its subsidiaries Jingrui Electronics and Huixiang Electro-hydraulic can enjoy the relevant preferential policies of the state on high-tech enterprises within three years (2021-2023) after they have obtained the certification of high-tech enterprises, and pay enterprise income tax at the rate of 15%.

  () The subsidiary company received the Decision on Tax Administrative Punishment.

  Idyll announced that Jiangsu Millennium Jewelry Co., Ltd. (hereinafter referred to as "Millennium Jewelry"), a wholly-owned subsidiary of the company, recently received the Decision on Tax Administrative Punishment issued by the Third Inspection Bureau of Nanjing Taxation Bureau in State Taxation Administration of The People’s Republic of China. The details are announced as follows:

  Decision on Tax Administrative Punishment issued by the Third Inspection Bureau of the Bureau. The details are announced as follows: Millennium Jewelry issued a total invoice of 194 million yuan to two new energy companies in Jiangxi Province in violation of the relevant provisions of the Measures for the Administration of Invoices in People’s Republic of China (PRC), with a tax amount of 25,225,300 yuan and an illegal profit of 262,800 yuan. The above illegal income of 262,800 yuan was confiscated by the Third Inspection Bureau of Nanjing Taxation Bureau of State Taxation Administration of The People’s Republic of China, and a fine of 500,000 yuan was imposed.

  Changying Precision: It is planned to buy back shares from 50 million yuan to 100 million yuan.

  Changying Precision announced on the evening of February 7 that the company intends to repurchase some public shares for the implementation of employee stock ownership plan or equity incentive plan. The price of the shares to be repurchased this time is no more than 20 yuan/share, and the total amount of repurchase funds is no more than 100 million yuan and no less than 50 million yuan.

  Boteng shares: Liangjiang Industrial Group completed the reduction of 1.21% of its shares.

  () Announcement: As of the disclosure date of this announcement, the implementation period of this reduction plan of Liangjiang Industry Group has expired, and the reduction plan has been implemented. Liangjiang Industry Group has reduced its holdings of 6,570,146 shares of the company, accounting for 1.21% of the company’s total share capital.

  83,401,400 shares of Jinpu Group, the controlling shareholder of Jinpu Titanium Industry, were frozen by the judiciary.

  () Announcement. Recently, the company inquired through the system of China Securities Depository and Clearing Co., Ltd. and learned that some shares of the company held by the company’s controlling shareholder Jinpu Investment Holding Group Co., Ltd. (hereinafter referred to as "Jinpu Group") were frozen by the judiciary. The total number of shares frozen by Jinpu Group this time was 83,401,400, accounting for 8.45% of the company’s total share capital.

  Brilliant Technology has bought back 24,858,800 shares at a cost of 172 million yuan.

  () Announcement was issued. As of January 31st, 2022, the company repurchased a total of 24,858,800 shares by centralized bidding through the special securities account, accounting for 6.38% of the company’s current total share capital. The highest transaction price was 7.95 yuan/share, the lowest transaction price was 636 yuan/share, and the transaction amount was 172 million yuan (excluding handling fees).

  Zhang Zulei, director of Jiejie Microelectronics, reduced his shareholding by 0.18%, which expired.

  Jiejie Microelectronics announced that the company recently received the Letter of Notice from Mr. Zhang Zulei, the director, about the completion of the shareholding reduction plan. This time, it reduced its holdings by 1,349,950 shares, with a reduction ratio of 0.18%.

  Bing Wang, the joint independent director of China Agriculture, resigned at the expiration of his term.

  () Announced that the board of directors of the company recently received a written resignation report from Mr. Bing Wang, an independent director of the company. Mr. Bing Wang has served as an independent director of the company for 6 years, and applied to resign as an independent director of the third board of directors of the company and the relevant special committees of the board of directors. As of the disclosure date of the announcement, Mr. Bing Wang did not hold shares in the company.

  Guanzhong Ecology: The consortium’s bid of 319 million yuan for urban and rural greenway network project will have a positive impact on the company’s performance.

  Released on February 7th-Guanzhong Ecological Announcement said that on January 29th, the company received the Notice of Winning the Bid for Construction Project from the tenderee and tendering agency, and the consortium formed by the company and () Photosynthesis Garden Co., Ltd. won the bid for the urban and rural greenway network project in gaoqing county, with the winning bid price of 319,480,000.00 yuan. If the company can sign a formal project contract and implement it smoothly, it will have a positive impact on the company’s operating performance.

  Keming Food repurchased 1,231,500 shares, accounting for 0.37% of the total share capital.

  On the afternoon of February 7th, Keming Food announced the progress of share repurchase. By January 31st, 2022, the company had bought back 1,231,500 shares by centralized bidding through the special stock repurchase account, accounting for 0.37% of the company’s current total share capital of 337 million shares. The average transaction price was 10.77 yuan/share, the lowest price was 10.15 yuan/share, the highest price was 11.18 yuan/share, and the total payment was 13.2603 million yuan (excluding

  (Editor: Xu Yuting)

  ST Shenji subsidiary was ruled by the court to accept bankruptcy liquidation and appoint an administrator.

  () Announcement, the company recently learned that Heath Shenyang Company, a wholly-owned subsidiary of the company, received the Civil Ruling (2022) Liao 0106 Po Shen No.2 from Tiexi District People’s Court of Shenyang. The civil ruling shows that the court ruled to accept the bankruptcy liquidation application filed by Shenyang Zhongsheng Automation Equipment Co., Ltd. on the grounds that Heath Shenyang Company was unable to repay the debts due and its assets were insufficient to pay off all the debts.

  According to the Decision of Tiexi District People’s Court of Shenyang (2022) No.2-1, Liao0106. Randomly selected by the Litigation Evidence Appraisal Center of Shenyang Intermediate People’s Court, Liaoning Chenggong Jinmeng Law Firm was appointed as the manager of Heath Machine Tool (Shenyang) Co., Ltd., with Cui Zengping as the person in charge, in accordance with Articles 13, 22, paragraph 1, and 24, paragraph 1 of the Enterprise Bankruptcy Law of the People’s Republic of China and Articles 20 and 27 of the Provisions of the Supreme People’s Court on Appointing Managers for Trial of Enterprise Bankruptcy Cases.

  After Heath Shenyang Company enters the bankruptcy liquidation procedure, the company will lose control over it and will no longer be included in the scope of the company’s consolidated statements. This announcement may have a certain impact on the company’s current profits, and the final impact will be determined according to the results of bankruptcy liquidation.

  Pingzhi Information: Shenzhen Zhaoneng won the bid for the centralized purchase project of China Telecom broadband convergence terminal.

  () Announcement: Recently, () The external portal of Sunshine Procurement Network released the announcement of the winning bidders for the Emergency Centralized Procurement Project of China Telecom Broadband Convergence Terminal (2021), and Shenzhen Zhaoneng Communication Technology Co., Ltd. ("Shenzhen Zhaoneng"), a subsidiary of the company, was one of the winning bidders for the above projects. The content of this procurement is broadband convergence terminal, and Shenzhen Zhaoneng ranks first and is the first candidate for winning the bid. The upper limit of this bid is about 107.32 million yuan (including tax).

  Jingwei shares: the shareholder Germany Weikawei intends to continue to reduce its shareholding by no more than 6% after the expiration of the reduction plan.

  Jingwei announced on the evening of February 7 that as of February 2, the period of shareholder Germany Weikawei’s reduction plan expired. During the implementation of the reduction plan, Germany Weikawei reduced its shareholding by 2%. Germany Weikawei plans to reduce its holdings by no more than 30 million shares within 180 days after 15 trading days from the date of announcement, that is, no more than 2% of the company’s total share capital; The number of holdings reduced through block trading shall not exceed 60 million shares, that is, it shall not exceed 4% of the company’s total share capital.

  Harbin Institute of Technology bought back 173,400 shares at a cost of 999,500 yuan.

  () Announcement was issued. As of January 31, 2022, the company has repurchased 173,400 shares, accounting for 0.023% of the company’s current total share capital. The highest transaction price of the purchased shares is 5.82 yuan/share, and the lowest transaction price is 5.71 yuan/share, and the total amount paid is about 999,500 yuan (excluding transaction costs).

  Taiji shares granted 2.304 million restricted shares at a price of 14.38 yuan/share.

  () Announcement: On February 7, 2022, the board of directors and the board of supervisors of the company deliberated and passed the Proposal on Granting Restricted Stock to Incentive Objects for the First time. The board of directors agreed to grant 640,000 first-class restricted shares to seven incentive objects and 1,664,000 second-class restricted shares to 74 incentive objects at a grant price of 14.38 yuan per share. The first grant date of this incentive plan is February 7, 2022.

  Tomcat’s major shareholder Shangyu Suzaku pledged 7.48 million shares.

  () Announcement: Shaoxing Shangyu Suzaku Equity Investment Partnership (Limited Partnership) ("Shangyu Suzaku"), a shareholder holding 9.99% of the company’s shares, was released from pledge on January 28th, 2022, accounting for 2.13% of its shares and 0.21% of the company’s total share capital.

  Shenzhen Juemeng, a shareholder of Zhongqian, intends to reduce its shareholding by no more than 3%.

  () Announced that Shenzhen Juemeng Management Consulting Co., Ltd., a shareholder holding 65,184,760 shares of the company (accounting for 31.91% of the company’s total share capital), plans to reduce its holdings of 6,127,500 shares of the company (accounting for 3% of the company’s total share capital) by centralized bidding or block trading within 6 months after 15 trading days from the date of announcement (no reduction during the window period).

  Hengtai Aipu: Jiang Yuxin resigned as a non-independent director.

  () Announced that the board of directors of the company recently received a written resignation report from Mr. Jiang Yuxin, a non-independent director, and Mr. Jiang Yuxin applied to resign as a non-independent director of the company for personal reasons. The original term of office of Mr. Jiang Yuxin was from December 27, 2021 to the expiration of the fifth board of directors. After resigning from the above position, Mr. Jiang Yuxin will continue to work in the company’s subsidiary.

  Datong Gas: On February 8th, the short name of the securities was changed to "Delong Huineng".

  () Announcement: Upon the application of the company and the approval of Shenzhen Stock Exchange, the short name of the company’s securities was changed from "Datong Gas" to "Delong Huineng" on February 8, 2022, and the English short name was changed from "BAOGUANG PHARM." to "DELONG CO-ENERGY", and the company’s securities code remained unchanged, still being "000593".

  Del shares: the subsidiary received the fixed-point notice from the customer.

  () On the evening of February 7th, it was announced that Carcoustics, a holding subsidiary, recently received a letter of designation from a well-known German vehicle manufacturer on the fire protection products of electric vehicle batteries, with an estimated total sales amount of about 165 million euros during its life cycle.

  Dawei shares: the shareholding company obtained the qualification of special purpose vehicle production.

  () It was announced on the evening of February 7th. According to the recent announcement of the Ministry of Industry and Information Technology, Dawei Hongde, a company that is a shareholder of the company, officially obtained the qualification of a civil modified car manufacturer. After Dawei Hongde obtained this qualification, it will carry out the preparation for the declaration of the access of products related to civil modified cars as planned, and carry out relevant certification or inspection work with other relevant departments.

  Some directors and senior executives of Guokewei did not reduce their holdings at the expiration of the reduction plan.

  () Announced that as of the disclosure date of this announcement, Mr. Zhou Bingbing, Mr. Xu Zebing, Ms. Gong Jing and Mr. Huang Ran have not reduced their shares in the company. The time limit for this reduction plan expires.

  Energy-saving man of iron: EPC project of pre-winning water system regulation project

  Energy-saving man of iron announced on the evening of February 7th that the bidding consortium composed of the company and its wholly-owned subsidiary, man of iron Ecological Construction Co., Ltd., had won the bid in advance for the EPC project of the renovation and upgrading of rainwater and sewage pipe network and the treatment of Yicui Lake water system in Ciping Scenic Area, Jinggangshan, Jiangxi Province, with a total investment of 166 million yuan and a planned construction period of 150 calendar days.

  There is no information that should be disclosed but not disclosed in the stock price change of Yalian Development.

  () It is announced that the daily closing price of the company’s stock trading price has fallen by more than 20% in three consecutive trading days (January 27th, January 28th and February 7th, 2022), which is an abnormal fluctuation of stock trading according to the relevant provisions of the Trading Rules of Shenzhen Stock Exchange.

  Upon confirmation, there are no matters that should be disclosed but not disclosed.

  Chunhui Zhikong: 49,506,400 restricted shares will be listed and circulated on February 10th.

  () Announcement, the restricted shares listed and circulated this time are part of the shares issued before the initial public offering and the strategic allotment shares issued for the initial public offering. The total number of shareholders applying for lifting the restricted shares is 153, and the number of shares lifted is 49,506,400, accounting for 36.4339% of the company’s total share capital. The restricted shares will be listed and circulated on February 10, 2022.

  Xi ‘an Tourism: Hotel business and business have resumed normal business.

  Xi’ an Tourism announced on the evening of February 7 that at present, the epidemic prevention and control work in Xi’ an has achieved remarkable results. The hotel business and commercial business of the company have resumed normal business one after another; The travel agency business will continue to strictly implement the requirements of the Xi ‘an Municipal Government on epidemic prevention and control, and make preparations for the gradual resumption of business.

  Zhongqian shares: shareholders intend to reduce their holdings by no more than 3%.

  Zhongqian announced on the evening of February 7th that the shareholder Shenzhen Juemeng Management Consulting Co., Ltd. plans to reduce its holding of 6,127,500 shares (accounting for 3% of the company’s total share capital) by centralized bidding or block trading within 6 months after 15 trading days from the date of announcement.

  Changying Precision plans to spend 50 million yuan to 100 million yuan to buy back shares.

  Changying Precision announced that the company intends to buy back some public shares, which will be used to implement the employee stock ownership plan or equity incentive plan. The amount of this repurchase is not less than 50 million yuan and not more than 100 million yuan, and the price of repurchased shares is not more than 20 yuan/share.

  There are no undisclosed matters in the stock price change of ST Jinzheng.

  () It was announced that the cumulative deviation of the closing price of the company’s shares for three consecutive trading days (January 27, 2022, January 28, 2022 and February 7, 2022) was 15.32%. According to the relevant provisions of the Trading Rules of Shenzhen Stock Exchange, it belongs to the abnormal fluctuation of stock trading. After verification, the company’s operating conditions and internal and external operating environment have not changed significantly recently. The board of directors of the company confirmed that the company has nothing that should be disclosed but not disclosed according to the Stock Listing Rules of Shenzhen Stock Exchange.

  Yongxing material: Huzhou Yongxing, a subsidiary, received a financial subsidy of 43.2608 million yuan for recycling renewable resources.

  Released on February 7-Yongxing Materials Announcement, recently, Huzhou Yongxing Materials Recycling Co., Ltd., a wholly-owned subsidiary of the company, received a financial subsidy of 43,260,810.00 yuan from Huzhou Finance Bureau in the form of cash subsidy. As of the date of this announcement, all the subsidy funds have been received. The government subsidy obtained this time belongs to the financial subsidy for recycling renewable resources, which is related to the daily business activities of the company and has sustainability.

  Yanghe shares: Fu Hongbing, vice president of the company, retired at age.

  Yanghe shares announced on the evening of February 7 that recently, the board of directors of the company received the "Resignation Application" from Fu Hongbing, the vice president of the company. Fu Hongbing applied to resign as the vice president of the company because he reached the statutory retirement age, and he no longer held any position in the company after his resignation.

  There is no information that should be disclosed but not disclosed in the stock price change of Royal Bank.

  () Announced that the closing price of the company’s stock trading price has fallen by more than 20% in two consecutive trading days (January 28th and February 7th), which is an abnormal fluctuation of stock trading according to the relevant regulations of Shenzhen Stock Exchange.

  The board of directors of the company confirmed that the company has no undisclosed matters or plans, discussions, intentions, agreements, etc. related to such matters according to the Stock Listing Rules of Shenzhen Stock Exchange; The board of directors has not been informed that the company has information that should be disclosed according to the Stock Listing Rules of Shenzhen Stock Exchange and other relevant regulations, which has a great impact on the trading price of the company’s shares and its derivatives; There is no need to correct or supplement the information disclosed by the company in the early stage.

  Xin Chen, director and general manager of Xuerong Bio, plans to increase the holding of 1-2 million shares of the company.

  () Announcement, Ms. Xin Chen, the director and general manager of the company, plans to increase the company’s shares within 6 months from the date of this announcement (except during the period when the laws, regulations and business rules of Shenzhen Stock Exchange are not allowed to increase the shares). There is no price premise for this increase, and the plan will be implemented at an appropriate time according to the secondary market situation. The number of shares increased this time is not less than 1 million shares and not more than 2 million shares.

  Baicheng Medicine: The clinical trial of BIOS-0618 tablet, a new target drug for the treatment of neuropathic pain, was approved.

  () Announcement, the company recently learned that the innovative drug BIOS-0618 tablet independently developed by the company was approved by the National Medical Products Administration (NMPA) for clinical trials. Indications of BIOS-0618 tablet: It is intended to be used for the treatment of neuropathic pain in clinic.

  It is reported that BIOS-0618 tablet is a new target drug for the treatment of neuropathic pain independently developed by the company with completely independent intellectual property rights, which can regulate a variety of neurobehavioral functions of the central nervous system and has the potential to treat a variety of central and peripheral nerve diseases. The compound has good PK (pharmacokinetics) parameters and bioavailability at an effective dose, and there is no drug with the same target and indication on the market at present. BIOS-0618 tablets belong to "innovative drugs that have not been listed at home and abroad", and its registration classification is Class 1 chemical drugs.

  Jufei Optoelectronics has spent 93.98 million yuan to buy back 17.4381 million shares.

  () Announcement was issued. As of January 31, 2022, the company repurchased 17,438,100 shares through the special securities account for share repurchase, accounting for 1.2988% of the company’s total share capital. The highest transaction price was 6.19 yuan/share, the lowest transaction price was 468 yuan/share, and the total transaction amount was 93.98 million yuan.

  Baicheng medicine: innovative drug BIOS-0618 tablets approved for clinical trial

 Baicheng Pharmaceutical announced on the evening of February 7th that the company recently learned that the innovative drug BIOS-0618 tablet independently developed by the company has been approved by the National Medical Products Administration (NMPA) for clinical trials. The drug is intended to be used for the treatment of neuropathic pain in clinic.

  Hua Lu Bai Na: The cumulative box office revenue of the movie Sniper is about 263 million yuan.

  () It was announced on the evening of February 7th that as of 24: 00 on February 6th, the cumulative box office revenue (including service fee) of the film Sniper, which was invested by Beijing, a holding subsidiary, was about RMB 263 million. According to the film investment contract, the net box office income should be distributed by the investor in proportion after the issuer recovers the distribution agency fee and the announcement fee. As of February 6, the film box office has not contributed operating income to the company.

  Xi ‘an Tourism: The hotel business and commercial business of the company have resumed normal business.

  Xi’ an tourism announcement, the company’s hotel business, trade business has resumed normal business; The travel agency business will continue to strictly implement the requirements of the Xi ‘an Municipal Government on epidemic prevention and control, and make preparations for the gradual resumption of business.

  AVIC Electric Test spent 60.8131 million yuan to buy back 4.691 million shares.

  () Announcement was issued. As of February 7, 2022, the company has repurchased 4.691 million shares of the company by centralized bidding through the special securities account for stock repurchase, accounting for about 0.79% of the company’s current total share capital. The highest transaction price was 13.19 yuan/share, and the lowest transaction price was 12.30 yuan/share, with a total transaction amount of 60.8131 million yuan (excluding transaction costs). As of February 7, 2022, the company’s share repurchase period has expired and the implementation of the repurchase plan has been completed.

  Dawei Hongde, a shareholding company of Dawei, obtained the qualification of special purpose vehicle production.

  Dawei Co., Ltd. issued an announcement, and the website of the Ministry of Industry and Information Technology of the People’s Republic of China (hereinafter referred to as the "Ministry of Industry and Information Technology") issued the Announcement of the Ministry of Industry and Information Technology of the People’s Republic of China (No.4, 2022) on January 29, 2022, and announced the Road Motor Vehicle Manufacturers and Products (No.352nd Batch).

  Since the announcement issued by the Ministry of Industry and Information Technology, Shenzhen Dawei Hongde Automobile Industry Co., Ltd. (hereinafter referred to as "Dawei Hongde"), the company’s shareholding company, has officially obtained the qualification of a civil modified car manufacturer. After Dawei Hongde obtained this qualification, it will carry out the preparation for the application for the access of civil modified car-related products as planned, and carry out relevant certification or inspection work with other relevant departments.

  The cumulative box office income of Hualu Baina’s participation in the film Sniper is about 263 million yuan.

  Hualu Baina announced that the film Sniper, which was invested by Beijing Wonderful Time Culture Media Co., Ltd. (hereinafter referred to as "Beijing Wonderful"), has been released in Chinese mainland since February 1, 2022. According to the data of the National Film Fund Office, as of 24: 00 on February 6, 2022, the film had been shown in Chinese mainland for six days, and the accumulated box office income (including service fees) was about RMB 263 million (there may be errors in the final settlement data), which exceeded 50% of the company’s operating income in the audited consolidated financial statements in the latest fiscal year.

  According to the film investment contract, the net box office income should be distributed by the investor in proportion after the issuer recovers the distribution agency fee and the announcement fee. As of February 6, 2022, the film box office has not contributed operating income to the company.

  Jingwei shares: Germany Weikawei intends to continue to reduce its shareholding by no more than 6%.

  On the evening of February 7th, Jingwei announced that on February 7th, 2022, the company received the Notification Letter of Time Interval Expiration of Share Reduction Plan from the German Weikawei Co., Ltd. ("Weikawei Germany"), a shareholder holding more than 5% of the shares. As of February 2, 2022, the period of the German Weikawei reduction plan expired. During the implementation of the reduction plan, Germany Weikawei reduced its holdings of 29,999,999 shares by centralized bidding, accounting for 2% of the company’s total share capital. After this reduction, Germany Weikawei held 273,000,087 shares of the company, accounting for 18.20% of the company’s total share capital, and remained a shareholder holding more than 5% of the company’s shares.

  On February 7th, 2022, the company received the Notice of Share Reduction from Wikaway Germany, and its shareholder Wikaway Germany holds 273,000,087 shares (accounting for 18.20% of the company’s total share capital). It is planned to reduce its holdings by centralized bidding within 180 days after 15 trading days from the disclosure date of the suggestive announcement, that is, it will not exceed 2% of the company’s total share capital. The number of shares reduced by block trading shall not exceed 60 million shares, that is, it shall not exceed 4% of the company’s total share capital (in any continuous 90 days, the number of shares reduced by centralized bidding shall not exceed 15 million shares, that is, it shall not exceed 1% of the company’s total share capital; The number of shares to be reduced through block trading shall not exceed 30 million shares, that is, it shall not exceed 2% of the total share capital of the company. If the company has dividend distribution, share delivery, capitalization of capital reserve, rights issue and other ex-dividend matters during the planned reduction period, the number of shares to be reduced and the equity ratio will be adjusted accordingly).

  Del shares received a fixed-point letter from a well-known German vehicle manufacturer, and the estimated total sales amount was 165 million euros.

  Del shares announced that Carcoustics International GmbH (hereinafter referred to as "Carcoustics" or "subsidiary"), a holding subsidiary of the company, recently received a letter of appointment from a well-known German vehicle manufacturer (limited to confidentiality agreement, whose name cannot be disclosed, hereinafter referred to as "customer") for the fire protection products of electric vehicle batteries, and the estimated total sales amount during the life cycle is about 165 million euros.

  Dagang Holdings: Sun Jianxi, the actual controller, released 18 million shares.

  On February 7th, Dagang Holdings announced that on February 6th, 2022, the company received a notice from Sun Jianxi, the controlling shareholder and actual controller, and learned that some of its shares pledged to Guotai Junan Securities Co., Ltd. had gone through the formalities of deregistration in China Securities Depository and Clearing Co., Ltd. on January 28th, 2022, and 18 million shares were released from pledge.

  The recent average cost of Dagang Holdings is 9.17 yuan, and the stock price runs above the cost. In the short market, the current rebound trend has slowed down, and investors can pay due attention to it. In the past five days, there has been no overall inflow or outflow of funds in this unit. According to statistics, the main force did not control the disk in the past 10 days. The company’s operating conditions are acceptable, and it has not been significantly recognized by most institutions for the time being, so it can continue to pay attention to it in the future.

  Beijing Kerui spent 39,993,800 yuan to buy back 4,906,700 shares.

  () Announcement was issued. As of January 31, 2022, in this repurchase scheme, the company repurchased 4,906,700 shares through the repurchase of special securities accounts, accounting for 0.9047% of the company’s total share capital. The highest transaction price was 8.46 yuan/share, and the lowest transaction price was 7.86 yuan/share, with a total turnover of 39,993,800 yuan (excluding transaction fees).

  Tianhua Chaojing announced the 2021 annual equity distribution plan to send 10 5 yuan.

  () The announcement was made on February 8th, and the contents of the company’s annual equity distribution plan for 2021 are as follows: based on the total share capital of 582,880,500 shares, a cash dividend of RMB5.00 will be distributed to all shareholders for every 10 shares, and a total cash dividend of RMB291 million will be distributed, accounting for 32% of the net profit attributable to the mother in the same period. No bonus shares will be distributed, and no capital reserve will be converted into share capital.

  According to the 2021 annual performance report released by Tianhua Chaojing, the company’s operating income was 3.398 billion yuan, a year-on-year increase of 158.73%; The net profit attributable to shareholders of listed companies was 911 million yuan, a year-on-year increase of 218.44%; The basic earnings per share was 1.59 yuan, compared with 0.52 yuan in the same period last year.

  Suzhou Tianhua Ultra-clean Technology Co., Ltd. is mainly engaged in anti-static ultra-clean technology products, medical devices and lithium battery materials. The main products include: self-destruction syringes, safety syringes, high-pressure syringes, lithium hydroxide, lithium carbonate, anti-static ultra-clean technology products, epidemic protection products and so on. During the reporting period, the company’s project "GB/T 35266-2017 Determination of Fiber Opening Rate of Composite Microfiber in Textiles and Fabrics" won the second prize of 2019 China Textile Industry Federation Science and Technology Progress Award; The company’s clean room dustless wiping cloth, static electricity and micro-pollution elimination and monitoring system products were awarded the honor of "2021 China Brand Day" by China Electronic Information Industry Federation.

  (Source: () iFinD)

  Zhezhong Shares: It is planned to reorganize the equity of Guojing Semiconductor with relevant parties.

  On February 7th, () announced that, according to the national requirements on related industry integration and resource sharing, in order to promote resource integration, achieve the goal of energy saving and consumption reduction, reduce competition in the same industry, and optimize configuration, and in view of the establishment of the company’s subsidiary Guojing (Jiaxing) Semiconductor Co., Ltd. ("Guojing Semiconductor") in December 2018, the automatic production line for 300mm silicon wafers has been put into mass production, in order to concentrate on making the industry of 300mm single crystal silicon wafers bigger and stronger. The Nanhu District Development and Reform Bureau of Jiaxing issued the Letter: under the guidance of the development and reform departments at all levels and with the consent of the government, the equity of Guojing (Jiaxing) Semiconductor Co., Ltd. was reorganized to promote the industrial scale effect and enhance the comprehensive competitiveness.

  According to the above requirements, in line with the principles of concentrating resources to enlarge and strengthen the 300mm single crystal silicon wafer industry, strong alliance, complementary advantages, mutual benefit and equal cooperation, the company signed the "About Guojing" with Shanghai Kang Feng Investment Management Co., Ltd., Jin Ruihong Microelectronics (Quzhou) Co., Ltd. ("Jin Ruihong Microelectronics") and Jiaxing Kangjing Semiconductor Industry Investment Partnership (Limited Partnership) ("Kangjing Investment")

  The shareholding structure after the reorganization: Jin Ruihong Microelectronics acquired 58.69% equity of Guojing Semiconductor, Kangjing Investment Co., Ltd. held 41.31% equity of Guojing Semiconductor, and Zhezhong shares, government industrial support funds and other shareholders indirectly held equity of Guojing Semiconductor through Kangjing Investment Co., Ltd.

  The recent average cost of Zhezhong shares is 18.14 yuan, and the stock price runs below the cost. In the short market, the current rebound trend has slowed down, and investors can pay due attention to it. In the past five days, the stock funds have generally been in an outflow state. According to statistics, in the past 10 days, the main force has concentrated a certain amount of chips, showing a moderate control state. The company’s operating conditions are acceptable, and it has not been significantly recognized by most institutions for the time being, so it can continue to pay attention to it in the future.

  Yao Cheng, supervisor of Yayi Technology, resigned.

  () Announcement, the company recently received a written resignation application submitted by Mr. Yao Cheng, the supervisor of the company. Mr. Yao Cheng applied to resign as a supervisor of the third board of supervisors of the company for personal reasons. After resigning, he will not hold other positions in the company.

  Shen Dong, Vice President of Shanghai Rural Commercial Bank, was approved for the post.

  On February 7th, Shanghai Banking Insurance Regulatory Bureau issued an announcement to approve the qualification of Shen Dong, vice president of Shanghai Rural Commercial Bank.

  It is understood that in September 2021, Shanghai Rural Commercial Bank issued a resolution announcement of the ninth meeting of the fourth board of directors, agreeing to hire Shen Dong as the vice president of the bank. According to the resume, Shen Dong, male, born in May 1980, holds a postgraduate degree and a master’s degree in engineering. He used to be the general manager of the Financial Technology Department of Shanghai Rural Commercial Bank, the deputy general manager of the Risk Management Department of Bank of Ningbo, the general manager of the Science and Technology Department of Bank of Ningbo and the general manager of the Financial Technology Department of Bank of Ningbo.

  The total shareholding of Pengling shareholders Eurasia Group, Qinghe Xinou and Jiedongtai decreased to 5.38%.

  () Announcement was issued. On February 7, 2022, the company received the Simplified Equity Change Report issued by the shareholders and their concerted actions, Hebei Xinhua Ouya Automobile Parts Group Co., Ltd. (hereinafter referred to as "()"), Qinghe County Xinou Enterprise Management Service Center (limited partnership) (hereinafter referred to as "Qinghe Xinou") and Mr. Xie Dongtai.

  On January 28th, 2022, the company completed the repurchase and cancellation of performance commitment in Shenzhen Branch of China Securities Depository and Clearing Co., Ltd., and Eurasian Group, Qinghe Xinou and Jiedongtai were repurchased and cancelled 46,328,800 shares of the company, with the total number of shares reduced from 82,080 to 35,751,800, the shareholding ratio changed from 11.54% to 5.38%, and the shareholding ratio decreased by 6.16%.

  Pingzhi Information: Shenzhen Zhaoneng won the bid for China Mobile’s smart home gateway project without WIFI and voice.

  Pingzhi Information Announcement: Recently, () Procurement and Bidding Network released the announcement of the successful candidates of "China Mobile Hebei Company’s Smart Home Gateway Project without WIFI and Voice in 2022". Shenzhen Zhaoneng Communication Technology Co., Ltd. ("Shenzhen Zhaoneng"), a subsidiary of the company, is one of the successful candidates of the above projects, and the winning amount of Shenzhen Zhaoneng is expected to be about 37.5 million yuan (including tax).

  Fosun Hi-Tech, shareholder of Zhongyan Dadi, reduced its holdings by 739,800 shares.

  () Announcement was issued. On January 27th, 2022, the company received the Report on Simple Equity Change of Beijing Zhongyan Dadi Technology Co., Ltd. issued by Fosun Hi-Tech. On January 27th, 2022, Fosun Hi-Tech reduced its shareholding by 739,800 shares through block trading, accounting for 0.5801% of the company’s total share capital. After this equity change, the company is no longer a shareholder holding more than 5% of the shares.

  Jinke shares plan to pay and delist "18 Jinke 01" at a rate of 7% on February 9.

  On February 7th, () the announcement of the public offering of corporate bonds to qualified investors in 2018 (Phase I) (Variety I) the repayment of principal and interest and delisting in 2022 was disclosed. The announcement shows that Jinke shares intend to pay and delist "18 Jinke 01" on February 9.

  According to the announcement, the current bond of Jinke Co., Ltd. is referred to as "18 Jinke 01" with the code of 112650.SZ, and the issuance scale is RMB 1.97 billion. As of the date of this announcement, the balance of this bond is RMB 350 million. The maturity of the bonds is 4 years, with the issuer adjusting the coupon rate option and the bondholder’s option to sell back at the end of the second year. The current coupon rate of the bonds is 7%.

  ST Omar shareholder Zhu Xin Rui Kang pledged 10 million shares.

  () Announcement was issued. On February 7, 2022, the company received the Securities Pledge Registration Certificate from the shareholder Wuhan Zhuxin Ruikang Technology Co., Ltd. (hereinafter referred to as "Zhuxin Ruikang"). On January 28, 2022, Zhuxin Ruikang went through the pledge registration procedures for some of its shares, and pledged 10 million shares this time, accounting for 0.92% of the company’s total share capital.

  () and () signed the Comprehensive Strategic Cooperation Agreement.

  Zhongli Group announced that this time, the company and Shanghai Electric Power Co., Ltd. signed the Comprehensive Strategic Cooperation Agreement. The two sides intend to focus on photovoltaic power generation industry investment and energy science and technology innovation, carry out multi-level and all-round in-depth cooperation, and plan to strive to complete no less than 1GW of photovoltaic power station project cooperation during the 14 th Five-Year Plan period.

  Long Qiang Investment, the shareholder of Shilong Industry, reduced its holdings by 2,399,900 shares, and the reduction period expired.

  () Announcement was issued. On February 3, 2022, the company received the Notice Letter on the Expiration of the Company’s Share Reduction Plan and the Reduction of the Company’s Shares from the shareholder leping city Longqiang Investment Center (Limited Partnership) (hereinafter referred to as "Longqiang Investment"). As of the date of this announcement, the implementation period of this share reduction plan of Longqiang Investment has expired, and it has reduced the company’s shares by 2,399,900 shares.

  There is no information that should be disclosed but not disclosed in the stock price change of Deshi shares.

  () It was announced that the closing price of the company’s shares deviated by more than 30% for three consecutive trading days (January 27th, January 28th and February 7th, 2022), and by 39.00% for two consecutive trading days (January 28th and February 7th, 2022). According to the relevant provisions of the Special Provisions on Growth Enterprise Market Trading of Shenzhen Stock Exchange, it belongs to abnormal stock trading.

  Upon confirmation, there are no matters that should be disclosed but not disclosed.

  Wang Zhonglei, one of the actual controllers of Huayi Brothers, has reduced its holdings of 27.5826 million shares for more than half of the time.

  () Announcement. As of the date of this announcement, Wang Zhonglei, one of the actual controllers of the company, has been in the middle of this share reduction plan, and Wang Zhonglei has reduced his holdings by 27,582,600 shares during the reduction plan period, accounting for 0.9936% of the company’s total share capital.

  Kelu Electronics plans to list and transfer 65% equity of Xinlong Electronics, a wholly-owned subsidiary.

  () Announcement, the company intends to transfer 65% equity of Shenzhen Xinlong Electronic Technology Co., Ltd. ("Xinlong Electronics"), a wholly-owned subsidiary. Based on the appraisal report and audit report issued by asset appraisal institutions and professional audit institutions as the pricing reference, the reserve price of 65% equity of Xinlong Electronics in the property rights trading institutions is RMB 51.35 million, and the specific transaction price will be determined according to the results of public listing bidding.

  It is reported that Xinlong Electronics is a high-tech enterprise that produces carrier chips. In order to better lay out the upstream and downstream of the industrial chain, the company acquired 100% equity of Xinlong Electronics in 2015. Due to the technical upgrading of communication module products, broadband communication technology was gradually adopted. State Grid Corporation of China also adjusted relevant policies after the product technical upgrading, which led to drastic changes in the market competition pattern of carrier products and intensified industry competition. Moreover, the founding team members of Xinlong Electronics have also left their posts one after another, resulting in a sharp decline in the market share of Xinlong Electronics and a sharp decrease in operating income compared with that before the acquisition. At present, its operating conditions have been unable to realize the strategic significance of the company’s original industrial chain layout. The company’s listing and transfer of 65% equity of Xinlong Electronics aims to introduce powerful new shareholders to empower the development of Xinlong Electronics.

  Penghui Energy does not redeem "Penghui Convertible Bonds" in advance.

  () Announced that during the period from January 1, 2022 to February 7, 2022, the closing price of the company’s shares has been not less than 130% (including 130%) of the current conversion price of the company’s "Penghui Convertible Bonds" (that is, 26.10 yuan/share) in 20 consecutive trading days. According to the provisions in the prospectus, "Penghui Convertible Bonds" has been triggered.

  The 21st meeting of the 4th Board of Directors was held on February 7th, 2022, and the Proposal on Not Redeeming Penghui Convertible Bonds in advance was reviewed and passed. Based on the current market situation and the company’s own situation, the board of directors of the company decided not to exercise the right of early redemption of Penghui Convertible Bonds from February 7th, 2022 to March 31st, 2022, and not to redeem Penghui Convertible Bonds in advance.

  Chengfa Environment received the financial aid returned by Enlightenment Environment.

  () Announcement was issued. On January 22, 2021, the company held the 31st meeting of the 6th Board of Directors and the 28th meeting of the 6th Board of Supervisors, respectively, and reviewed and approved the Proposal on Chengfa Environment Co., Ltd. Providing Financial Support to () Technology Development Co., Ltd., It is agreed to provide financial assistance of no more than 290 million yuan to Enlighten Environmental Technology Development Co., Ltd. (hereinafter referred to as "Enlighten Environment") through entrusted loans and other ways that comply with laws and regulations. The interest rate level is determined with reference to Enlighten Environment’s financing rate for the same period, and it is not lower than the loan market quotation rate (LPR) published by the National Interbank Funding Center for the same period, and the term will not exceed one year, which is specially used to repay Enlighten Environment’s financial debts due. In order to effectively protect the safety of the company’s funds, Qidi Environment provided a pledge guarantee for this financial assistance with its 13% equity of Qidi Digital Sanitation (Hefei) Group Co., Ltd.

  Recently, the borrower enlightened the environment to return the principal and interest of the above financial aid, and has completed the repayment procedures. At this point, Enlightenment Environment has returned all the principal and interest of this financial aid, and this financial aid has not been overdue.

  Chengfa Environment received the financial aid returned by Enlightenment Environment.

  Chengfa Environment issued an announcement. On January 22, 2021, the company held the 31st meeting of the 6th Board of Directors and the 28th meeting of the 6th Board of Supervisors respectively, and reviewed and approved the Proposal on Chengfa Environment Co., Ltd. Providing Financial Support to Qidi Environmental Technology Development Co., Ltd., It is agreed to provide financial assistance of no more than 290 million yuan to Enlighten Environmental Technology Development Co., Ltd. (hereinafter referred to as "Enlighten Environment") through entrusted loans and other ways that comply with laws and regulations. The interest rate level is determined with reference to Enlighten Environment’s financing rate for the same period, and it is not lower than the loan market quotation rate (LPR) published by the National Interbank Funding Center for the same period, and the term will not exceed one year, which is specially used to repay Enlighten Environment’s financial debts due. In order to effectively protect the safety of the company’s funds, Qidi Environment provided a pledge guarantee for this financial assistance with its 13% equity of Qidi Digital Sanitation (Hefei) Group Co., Ltd.

  Recently, the borrower enlightened the environment to return the principal and interest of the above financial aid, and has completed the repayment procedures. At this point, Enlightenment Environment has returned all the principal and interest of this financial aid, and this financial aid has not been overdue.

  Nastar’s overseas holding subsidiary plans to increase the capital of its subsidiary Lexmark International by US$ 290 million.

  () Announced that in order to further promote Lexmark International’s development and enhance Lexmark International’s profitability, Nastar and its controlling shareholder Zhuhai Saina Printing Technology Co., Ltd. (hereinafter referred to as "Saina Technology") intend to provide a total loan of 367 million US dollars to the Cayman Joint Venture, and Nastar will provide 167 million US dollars to the Cayman Joint Venture, and Saina Technology will provide 200 million US dollars to the Cayman Joint Venture. In order to optimize the asset-liability structure of Lexmark International, the Cayman Joint Venture intends to use the $290 million in this loan to increase the capital of Lexmark International.

  It is reported that in November 2016, Ninestar Holdings Company Limited (hereinafter referred to as Cayman Joint Venture), which was jointly established with PAG Asia Capital Lexmark Holding Limited (hereinafter referred to as "Taimeng Investment") and Shanghai Shuoda Investment Center (Limited Partnership), acquired 100% of Lexmark International,Inc (hereinafter referred to as "Lexmark International").

  The purpose of this foreign investment is to integrate and optimize Lexmark International’s asset-liability structure, enhance Lexmark International’s sustainable profitability and increase the company’s profitability. There is no harm to the interests of the company and shareholders in this foreign investment.

  Huangting International intends to list and transfer not less than 51% equity of Rongfa Investment and Chongqing Huangting respectively.

  () Announce that the company intends to pre-list on Shenzhen United Assets and Equity Exchange to transfer not less than 51% of the shares of Shenzhen Rongfa Investment Co., Ltd. (hereinafter referred to as Rongfa Investment) and Chongqing Huangting Jewelry Plaza Co., Ltd. (hereinafter referred to as Chongqing Huangting) held by the company, and require the delisted party to pay off all debts of Rongfa Investment and Chongqing Huangting to Huangting International and related parties.

  Control or change Huatong Thermal Power has been suspended since the market opened on February 7.

  () Announcement on February 7, the company received a notice from Zhao Yibo, the controlling shareholder and actual controller, on January 28, and learned that it was planning major issues involving the company: Zhao Yibo planned to transfer some shares and entrust voting rights to Beijing Energy Group Co., Ltd. (hereinafter referred to as "Jingneng Group"), and the company planned the non-public offering of shares by Xiang Jing Energy Group. The final plan was subject to the relevant agreements signed by all parties. If the above matters are finally reached, the company’s control rights will be changed.

  It is reported that Jingneng Group belongs to energy project investment and other industries. Its controlling shareholder is Beijing State-owned Capital Operation Management Co., Ltd., and the actual controller is the State-owned Assets Supervision and Administration Commission of Beijing Municipal People’s Government (hereinafter referred to as "Beijing SASAC"). Matters related to this transaction still need prior approval from the competent department.

  Huatong Thermal Power said that the transfer of shares, the entrustment of voting rights and the non-public offering of shares by Xiang Jing Energy Group still need to obtain the approval of the Beijing State-owned Assets Supervision and Administration Commission, fulfill the centralized declaration of operators and obtain the decision or consent document issued by the anti-monopoly authorities that the centralized anti-monopoly examination of operators will not be further examined or prohibited, and it also needs to be audited by the Shenzhen Stock Exchange, and the share transfer registration formalities should be handled at China Securities Depository and Clearing Co., Ltd. There is still uncertainty about whether the matter can be finally implemented and the implementation result.

  In view of the uncertainties in the above matters, in order to ensure fair information disclosure, safeguard the interests of investors and avoid abnormal fluctuations in the company’s share price, the company applied to the Shenzhen Stock Exchange to suspend trading from the opening of the market on Monday, February 7, 2022, and it is estimated that the suspension time will not exceed 2 trading days.

  During the period of stock suspension, the company will fulfill its information disclosure obligations in strict accordance with the provisions and requirements of relevant laws and regulations according to the progress of the matter. After the above matters are confirmed, the company will promptly disclose relevant announcements and apply for the resumption of trading of the company’s shares.

  Zhongqian shares: shareholders intend to reduce their holdings by no more than 3%.

  On the evening of February 7th, Zhongqian Company announced that Shenzhen Juemeng Management Consulting Co., Ltd., a shareholder holding 65.1848 million shares (accounting for 31.91% of the company’s total share capital), plans to reduce its holding of 6.1275 million shares by centralized bidding or block trading within six months after 15 trading days from the announcement date, accounting for 3% of the company’s total share capital.

  Jufei Optoelectronics: 1.2988% of the shares have been repurchased, and the total transaction amount is about 93.9805 million yuan.

  On February 7, 2022, Jufei Optoelectronics announced that as of January 31, 2022, the company had repurchased 17,438,096 shares with its own funds by centralized bidding (of which 40,000 shares were placed by the repurchase staff half an hour before the closing, and the transaction amount was 190,400.00 yuan), accounting for 1.29800 yuan of the company’s total share capital.

  There is no information that should be disclosed but not disclosed in the stock price change of Infineon.

  () Announced that the closing price of the company’s stock trading price has fallen by more than 20% in three consecutive trading days (January 27, 2022, January 28, 2022 and February 7, 2022), which is an abnormal fluctuation of stock trading according to the relevant provisions of the Trading Rules of Shenzhen Stock Exchange.

  Upon confirmation, there are no matters that should be disclosed but not disclosed.

  Zeng Shaobin, the controlling shareholder of Hanyu Pharmaceutical, released the pledge of 3 million shares.

  () Announcement. Recently, Hanyu Pharmaceutical received a notice from Mr. Zeng Shaobin, the controlling shareholder and actual controller of the company acting in concert, and Mr. Zeng Shaobin handled some stock pledge business.

  This time, 3 million shares were released from pledge, accounting for 10.36% of its shares and 0.33% of the company’s total share capital.

  Chen Yafen, supervisor of Dixon Co., Ltd., has not reduced his holdings for more than half of the planned time.

  () Announcement. Recently, the company received the Notice Letter on the Progress of the Share Reduction Plan issued by Ms. Chen Yafen, the supervisor. The reduction time of this reduction plan has been more than half, and it has not reduced its shares.

  Zhongli Group: Signed a comprehensive strategic cooperation agreement with Shanghai Electric Power.

  On the evening of February 7th, Zhongli Group announced that it had signed the Comprehensive Strategic Cooperation Agreement with Shanghai Electric Power Company. The two parties intend to focus on photovoltaic power industry investment and energy science and technology innovation, and carry out multi-level and all-round in-depth cooperation. It is planned to strive to complete no less than 1GW of photovoltaic power station project cooperation during the Tenth Five-Year Plan period. In addition, the company recently signed an Equity Transfer Agreement with () and Changfei Zhongli, which stipulated that the company would transfer 49% equity of Changfei Zhongli to Changfei Optical Fiber at a price of 183 million yuan. After the transaction is completed, the company no longer holds equity of Changfei Zhongli.

  BOE A: By the end of January, it had repurchased 2.577 billion yuan of A shares.

  BOE A announced on the evening of February 7 that as of January 31, 2022, the company repurchased the company’s shares by centralized bidding through repurchasing special securities accounts, and the cumulative number of A shares repurchased was 491 million, accounting for about 1.3090% of the company’s A shares, accounting for about 1.2771% of the company’s total share capital. The highest transaction price of this repurchase was 5.96 yuan/share, and the lowest transaction price was 4.83 yuan/share.

  As early as September 1, 2021, the company announced that BOE A will repurchase RMB common shares (A shares) issued by some companies with its own funds through centralized bidding in the next year to implement the company’s equity incentive plan. The total amount of funds to be repurchased shall not exceed RMB 3 billion, and the repurchase price shall not be higher than RMB 8.5 yuan per share. This repurchase plan will be completed before August 27, 2022.

  On January 20, 2022, BOE A released the 2021 annual performance forecast, and its operating performance increased in advance, exceeding market expectations. The company expects to achieve revenue of 215 billion yuan to 220 billion yuan in 2021, a year-on-year increase of 59%-62%; The net profit of returning to the mother was 25.7 billion yuan to 26 billion yuan, up 410% to 416% year-on-year. The central value of the net profit of returning to the mother was 25.85 billion yuan, exceeding the market consensus of 24.17 billion yuan by 6.95%.

  BOE A said that in 2021, the semiconductor display industry continued the longest boom cycle in history in the first half of the year. Since the third quarter, with the adjustment of the demand side, the price of industrial products has undergone a structural correction. In terms of LCD products, the company actively adjusted its product mix based on good product and customer structure, and still maintained a good profit level. The shipment of flexible OLED has increased rapidly, and the monthly shipment in December 2021 exceeded 10 million for the first time.

  The shareholders of Zhongqian intend to reduce their holdings by no more than 3%.

  Zhongqian shares announced that Shenzhen Juemeng Management Consulting Co., Ltd., a shareholder holding 65,184,760 shares of the company (accounting for 31.91% of the company’s total share capital), plans to reduce its holdings of no more than 6,127,468 shares by centralized bidding or block trading within 6 months after 15 trading days from the announcement date, accounting for 3% of the company’s total share capital.

  Tianjian Group intends to acquire 70% equity of Shenzhen Xingchen Company to acquire high-quality land in Shenzhen.

  () Announced that Shenzhen Tianjian Real Estate Group Co., Ltd. (hereinafter referred to as Tianjian Real Estate Group), a wholly-owned subsidiary of the company, plans to acquire 70% equity of Shenzhen Shenxingchen Technology Development Co., Ltd. (hereinafter referred to as Shenxingchen Company) held by Shenzhen Special Zone Construction Engineering Group Co., Ltd. (hereinafter referred to as "Shenzhen Construction Engineering Group") for RMB 10,000 yuan and RMB 202 million yuan.

  The main asset of Shenxingchen Company is parcel A641-0025 under its name. If 70% equity of Shenxingchen Company is successfully acquired, Tianjian Real Estate Group will hold the development right of the parcel, which is located in the east area of Guangming High-tech Industrial Park in Shenzhen.

  According to the announcement, this transaction is to purchase assets from the controlling shareholder of the company and obtain high-quality land in Shenzhen. The subsequent development and sales will further provide resources for the company’s comprehensive development business and have a positive impact on the company’s future development.

  Eston repurchased 2,336,200 shares at a cost of 56,044,300 yuan.

  () Announcement was issued. As of January 31st, 2022, the company repurchased shares by centralized bidding through the special securities account. The number of repurchased shares was 2,336,200 shares, accounting for 0.27% of the company’s current total share capital. The highest transaction price was 25.80 yuan/share, and the lowest transaction price was 21.37 yuan/share. The total used funds were 56,044,300 yuan (excluding transaction costs)

  Huang Sishi, a shareholder of Jinke, reduced his holdings by 45,649,400 shares.

  Jinke Co., Ltd. issued an announcement. Today, the company received a notice from Ms. Huang Sishi, a shareholder, and learned that it had reduced its holdings of 45,649,400 shares through centralized bidding and block trading in the secondary market.

  Tianbang Co., Ltd. appointed Wang Xueyan as the representative of securities affairs.

  () Announced, the company held the 50th meeting of the 7th Board of Directors on February 7th, 2022, deliberated and passed the Proposal on Changing the Representative of Securities Affairs, and decided to hire Ms. Wang Xueyan as the representative of the company’s securities affairs to assist the Secretary of the Board of Directors in performing her duties. Ms. Wang Xueyan’s term of office will be from the date of deliberation and approval by this Board of Directors to the expiration date of the current term of the Board of Directors.

  Tianjian Group won the bid of 75,605,700 yuan for the cleaning service project of municipal roads and villages in cities.

  Tianjian Group issued an announcement. Recently, Shenzhen Tianjian City Service Co., Ltd. (referred to as Tianjian City Service Company), a wholly-owned subsidiary of the company, received the Notice of Winning Bid for Online Government Procurement in Nanshan District, Shenzhen from Shenzhen Public Resources Trading Center, and determined Tianjian City Service Company as the winning bidder for the project of "Cleaning and Cleaning Services for Municipal Roads and Villages in Taoyuan Sub-district Office, Nanshan District, Shenzhen (one year)". The bid price is 75,605,700 yuan.

  Zhongyuan Jinkong, the major shareholder of Xinning Logistics, has not reduced its holdings for more than half of the period.

  () Announcement: From the announcement date of this reduction plan to February 4, 2022, Henan Zhongyuan Jinkong Co., Ltd., a 7.43% shareholder of the company, has reduced its holdings for more than half of the time, and it has not reduced its shares.

  The first employee stock ownership plan of Fuan Pharmaceutical will expire on August 1st.

  () Announcement, the first employee stock ownership plan of the company will expire on August 1, 2022. As of the date of this announcement, the first employee stock ownership plan holds 21,774,700 shares of the company, accounting for 1.83% of the company’s total share capital.

  Del shares: The subsidiary has received a letter from a well-known German vehicle manufacturer, and the estimated total sales amount is about 165 million euros.

  On the evening of February 7th, Del announced that Carcoustics International GmbH, a holding subsidiary of the company, recently received a letter from a well-known German vehicle manufacturer (whose name cannot be disclosed due to confidentiality agreement, referred to as "customer") about the fire protection products of electric vehicle batteries, and the estimated total sales amount during the life cycle is about 165 million euros.

  Del shares said that the company and its subsidiaries have laid out noise reduction, heat insulation and lightweight products for many years, and have the advantages of core technologies and processes in acoustics and thermodynamics, and tailor-made solutions for acoustics, thermodynamics and lightweight systems for customers. The products involve sound insulation and electromagnetic compatibility shielding.

  While supporting traditional vehicles, Del shares continue to innovate and develop, vigorously promote the business of new energy vehicles, and actively expand the application of products in new energy vehicles. At present, in the field of battery shielding, the company has developed products such as battery protection cover, battery electromagnetic shielding cover, motor coating and air conditioning compressor coating for new energy vehicles. The battery fire protection products developed for customers this time can better improve the safety performance of electric vehicles.

  Del shares said that the battery fire protection product was designated by the customer, which is another such product designation after the company obtained the letter of designation for the battery protection cover of Volkswagen AG, which is conducive to the company’s product development and upgrading in this application field of new energy vehicles and the development of new customers, strengthening the company’s global position in developing product solutions suitable for electric vehicles, and reflecting the company’s comprehensive strength in customer development and new market development of electric vehicles.

  Del shares said that this matter will not have a great impact on the company’s performance this year, but it will help improve the company’s business income and benefits in the future, promote long-term business development, and continuously expand the market space for high-end products.

  Mu Yuan’s 6 billion yuan fixed-income project received the first feedback from the CSRC.

  Our reporter Zhang Wenjuan.

  On February 7th, () announced that on January 29th, 2022, the company received the Notice of Feedback on the Review of Administrative Licensing Projects of China Securities Regulatory Commission issued by China Securities Regulatory Commission. The company will organize relevant materials to be submitted to the CSRC within 30 days according to the requirements of the notice. According to the announcement, this non-public offering of A-shares still needs further review by the China Securities Regulatory Commission, and there is uncertainty whether it can be approved.

  Wang Kuixing, a practicing lawyer of Haoyunduo Law Firm, told the Securities Daily reporter: "According to the Detailed Rules for the Implementation of Non-public Offering of Listed Companies (revised in 2020) and referring to the IPO review process, the CSRC will enter the’ pre-trial stage’ after accepting the application materials for non-public offering of listed companies. After the preliminary examination of the application documents, the pre-examiner of the issuance department will give written feedback (at least once) to the issuer and the lead underwriter, and the issuer and the intermediary agency must give a written reply within 30 working days. However, due to the time-consuming reply process, many listed companies choose to apply for an extension of reply. Judging from past statistics, it may take about three months to wait until the meeting is passed after the general declaration. "

  According to the plan for non-public offering of A shares in 2021 disclosed by Mu Yuan, the company plans to issue no more than 149 million shares and raise no more than 6 billion yuan, all of which will be used to supplement the working capital after deducting the issuance expenses. According to the issuance plan, this fixed issuance price is 40.21 yuan/share. The non-public offering of shares is subscribed by Mu Yuan Group.

  For this fixed increase, Mu Yuan Co., Ltd. stated in the above plan that with the continuous investment in capacity expansion and the gradual growth of business scale, the company’s asset-liability ratio has shown a certain upward trend since 2019. The funds raised through this non-public offering will be used to supplement the working capital, which will effectively improve the company’s asset-liability structure, enhance financial stability and prevent financial risks. At the same time, the company’s net assets will be greatly improved, and its asset structure will be more stable, which is conducive to enhancing the company’s ability to resist risks, improving the company’s solvency and subsequent financing capabilities, and ensuring the company’s sustained, stable and healthy development.

  Qi Yan, bulk meat trader of Tibet Jinxiu Commodity Exchange, said: "Feed is the basis for the sustainable development of aquaculture. With the expansion of business scale and high feed cost, Mu Yuan shares need a lot of liquidity to ensure important daily production and operation activities such as biological assets and feed procurement, in addition to fixed assets investment such as aquaculture project construction."

  Cao Yanyan, a partner of Gong Jin Enterprise Management Consulting Co., Ltd., said: "Under the background of the trend of large-scale pig breeding and the deep adjustment of pig prices, the increase of Mu Yuan’s shares is becoming more and more important and urgent. On the one hand, this fixed increase will help Mu Yuan to enhance its ability to resist operational risks; On the other hand, sufficient liquidity also provides Mu Yuan with valuable time and resources to make up for the shortcomings, so as to better avoid the impact of the pig cycle, which will help improve the company’s comprehensive operating strength and enhance the company’s market competitiveness in the long run. "

  (Editor Bai Baoyu)

  Tianjin Jinfeng Culture Communication, the shareholder of Xueda Education, pledged 2,877,400 shares.

  () Announced, the company received the Notice Letter on Share Pledge sent by shareholders, and learned that some shares of the company held by Tianjin Jinfeng Culture Communication Co., Ltd. and Tianjin Yu ‘an Enterprise Management Partnership (Limited Partnership) were pledged, and the above shareholders pledged a total of 2,877,400 shares this time.

  The subsidiary of Del Co., Ltd. received the fixed-point notice from the customer

  Del shares announced that Carcoustics International GmbH, a holding subsidiary of the company, recently received a letter of designation from a well-known German vehicle manufacturer (limited to confidentiality agreement, whose name cannot be disclosed) on the fire protection products of electric vehicle batteries, and the estimated total sales amount during the life cycle is about 165 million euros.

  Meichen Ecology: The subsidiary’s obtaining the notice of designated development of the supplier’s project is conducive to improving the company’s product market share and brand awareness.

  Released on February 7-Meichen Ecological Announcement said that Shandong Meichen Industrial Group Co., Ltd., a wholly-owned subsidiary of the company, recently received a notice from customers that Shandong Meichen Industrial Group Co., Ltd. has become a batch supplier of thermal management circulation system pipelines for a new platform project of a domestic head brand OEM (limited to confidentiality agreement, whose name cannot be disclosed). The life cycle of this project is 5 years. According to preliminary calculation, the total life cycle is about 387 million yuan. Obtaining the notice of designated project development this time is conducive to improving the company’s independent innovation ability and management level, and improving the company’s product market share and brand awareness.

  Meichen Ecological’s wholly-owned subsidiary was notified of the designated development of the supplier’s project.

  Meichen Ecological Announcement: Shandong Meichen Industrial Group Co., Ltd., a wholly-owned subsidiary of the company, recently received a notice from a customer that Shandong Meichen Industrial Group Co., Ltd. has become a batch supplier of a new platform project thermal management circulation system pipeline of a domestic head new force brand OEM (limited to confidentiality agreement, its name cannot be disclosed). The life cycle of this project is 5 years. According to preliminary calculation, the total life cycle is about 387 million yuan.

  Maiquer Group, the controlling shareholder of Maiquer, was judicially enforced with 1.24 million shares.

  () Announcement was issued. As of this announcement, the controlling shareholder of Maiquer Group has accumulated 1.24 million shares (accounting for about 0.71% of the company’s total share capital).

  The 33.04 million shares held by Yang Zhenhua, the controlling shareholder of Feilixin, will be auctioned by the judiciary.

  () It is announced that 33.04 million shares (accounting for 2.30% of the company’s total share capital) held by Yang Zhenhua, the controlling shareholder holding 86.8512 million shares (accounting for 6.05% of the company’s total share capital), will be subject to judicial auction. At present, the auction items are still in the publicity stage, and the auction results are uncertain.

  As of the date of this announcement, all shares of Yang Zhenhua are currently in a state of judicial freezing. If this judicial auction is successful, Yang Zhenhua will hold 53,811,200 shares of the company, accounting for 3.75% of the company’s total share capital. The four controlling shareholders and their concerted actions hold a total of 145 million shares of the company, accounting for 10.12% of the company’s total share capital. They are still the controlling shareholders of the company, and the controlling shareholders and actual controllers of the company will not change.

  Hai Yin shares plan to sell a property in Panyu, Guangzhou for 90.33 million yuan.

  () Announcement was issued. On February 7, 2022, Guangzhou Panyu Hai Yin Sports Leisure Co., Ltd. (hereinafter referred to as "Panyu Sports Leisure"), a wholly-owned subsidiary of the company, and Guangzhou Xingxun Industrial Co., Ltd. (hereinafter referred to as "Xingxun Industry") signed the Guangzhou Commodity House Sales Contract. Panyu Sports Leisure, a wholly-owned subsidiary of the company, sold the property located at Room 2401, No.8 Zhenhai Shunlu, Nancun, Panyu District to Xingxun Industry with a contract amount of 90.33 million yuan.

  Tellus A shareholders have reduced their holdings of 4,168,100 shares in Fuhai for more than half of the time.

  Tellus A issued an announcement. On February 7, 2022, the company received the Notice Letter on the Progress of Reducing Tellus A Shares from shareholder Yuan Zhifai. As of the date of this announcement, the reduction plan of Yuanda Fuhai is more than half of the time, and it reduces the company’s shares by 4,168,100 shares, accounting for 0.97% of the company’s total share capital.

  Gu ‘ao Technology awarded 14.5 million second-class restricted shares to 100 incentive targets.

  () It was announced that the conditions for granting restricted shares for the first time stipulated in the company’s restricted stock incentive plan in 2022 have been achieved, and it was agreed to grant 14.5 million second-class restricted shares to 100 eligible incentive targets at the grant price of 19.31 yuan/share on February 7, 2022.

  Zhezhong Co., Ltd. plans to restructure the equity of Guojing Semiconductor to enlarge and strengthen the 300mm monocrystalline silicon wafer industry.

  Zhezhong Co., Ltd. announced that in order to concentrate on making the 300mm monocrystalline silicon wafer industry bigger and stronger, the company signed the Framework Agreement on the Reorganization of Guojing (Jiaxing) Semiconductor Co., Ltd. with Shanghai Kang Feng Investment Management Co., Ltd., Jin Ruihong Microelectronics (Quzhou) Co., Ltd. ("Jin Ruihong Microelectronics") and Jiaxing Kangjing Semiconductor Industry Investment Partnership (Limited Partnership) ("Kangjing Investment").

  After the completion of this reorganization, Jin Ruihong Microelectronics holds 58.69% equity of Guojing Semiconductor, and Kangjing Investment holds 41.31% equity of Guojing Semiconductor. Zhezhong shares, government industrial support funds and other shareholders indirectly hold the equity of Guojing Semiconductor through Kangjing Investment, and the company no longer controls Guojing Semiconductor.

  Kelu Electronics: It is planned to transfer 65% equity of Xinlong Electronics by listing.

  Kelu Electronics announced on the evening of February 7 that the company intends to transfer 65% equity of Xinlong Electronics, with a reserve price of 51.35 million yuan. After the completion of this equity transfer, Xinlong Electronics will no longer be included in the scope of the company’s consolidated statements.

  Tianjian Group: The subsidiary acquired 70% equity of Shenzhen Xingchen Company from the controlling shareholder of the company.

  Tianjian Group announced on the evening of February 7 that Tianjian Real Estate Group, a wholly-owned subsidiary of the company, acquired 70% equity of Shenxingchen Company held by SEZ Construction Engineering Group, the controlling shareholder of the company, for 202 million yuan. The transaction is to purchase assets from the controlling shareholder of the company and obtain high-quality land in Shenzhen. Subsequent development and sales will further provide resources for the company’s comprehensive development business and have a positive impact on the company’s future development.

  Gujing Distillery: Recently, I used idle raised funds of 1 billion yuan to buy bank wealth management products.

  On February 7th, Anhui () Co., Ltd. (hereinafter referred to as "Gujing Distillery") announced that it had recently used idle raised funds of 1 billion yuan to purchase large deposit certificates of wealth management products from banks. The value date was January 28th, 2022, and the maturity date was January 28th, 2023. The source of funds was raised funds, and the expected annualized rate of return was 2%.

  On August 27th, 2021, Gujing Distillery passed the Proposal on Using Idle Raised Funds to Buy Wealth Management Products, which agreed that the company could use idle raised funds with an amount not exceeding RMB 4.5 billion to buy wealth management products with high security and good liquidity without affecting the progress of fundraising projects.

  Screenshot of Gujing Distillery Announcement.

  In the 12 months before this announcement, Gujing Distillery used temporarily idle raised funds to purchase 16 wealth management products, of which 2 were due and 14 were not, with a total amount of 3.92 billion yuan.

  The financial report of Gujing Distillery in the third quarter of 2021 shows that the company’s total operating income in the first three quarters was 10.1 billion yuan, a year-on-year increase of 25.19%, and the net profit attributable to shareholders of listed companies was 1.969 billion yuan, a year-on-year increase of 28.05%.

  As of the close of February 7, the share price of Gujing Distillery was 221.55 yuan, up 5.75% on that day, with a total market value of 117.1 billion yuan.

  Beijing News reporter Wang Zhenzhen editor Zheng Mingzhu

  Proofread the screenshot of Li Ming’s picture company announcement

  Nastar terminated the Industrial Fund and cancelled Zhuhai Zhongke Jinqiao Integrated Circuit Industry Investment Partnership.

  Nastar announced that Zhuhai Zhongke Jinqiao Integrated Circuit Industry Investment Partnership (Limited Partnership) (hereinafter referred to as the "Industry Fund") has not carried out substantive operations since its establishment due to changes in the market environment and the actual development of the company’s business. Now, all parties have reached an agreement through consultation and intend to terminate the industry fund and cancel Zhuhai Zhongke Jinqiao Integrated Circuit Industry Investment Partnership (Limited Partnership).

  Xuerong Bio: General Manager Xin Chen plans to increase his holdings by no less than 1 million shares and no more than 2 million shares.

  Released on February 7-Xuerong Bio announced that Ms. Xin Chen, the company’s director and general manager, plans to increase the company’s shares within six months from the disclosure date of this announcement. There is no price premise for this increase, and the increase plan will be implemented according to the secondary market situation. The number of shares increased this time is not less than 1 million shares and not more than 2 million shares.

  Aikang Technology repurchased 5,556,800 shares at a cost of 29,990,500 yuan.

  () Announcement was issued. As of January 31st, 2022, the company repurchased a total of 5,556,800 shares of the company by centralized bidding through the special securities account, accounting for 0.1240% of the company’s current total share capital. The highest transaction price was 5.93 yuan/share, the lowest transaction price was 5.10 yuan/share, and the total transaction amount was 29,990,500 yuan (excluding transaction costs).

  Digital China has repurchased 2,009,500 shares at a cost of 30.34 million yuan.

  () Announcement was issued. As of January 31st, the company repurchased 2,009,500 shares by centralized bidding through the special securities account, accounting for 0.3041% of the company’s total share capital. The highest transaction price of the purchased shares was 15.50 yuan/share, the lowest transaction price was 14.85 yuan/share, and the total amount paid was 30.34 million yuan.

  Tianrongxin repurchased 5,962,200 shares at a cost of 101 million yuan.

  () Announcement was issued. As of January 31st, 2022, the company repurchased a total of 5,962,200 shares by centralized bidding through the special securities account, accounting for 0.50% of the company’s current total share capital. The highest transaction price was 17.33 yuan/share, the lowest transaction price was 16.72 yuan/share, and the total transaction amount was 101 million yuan (excluding transaction fees).

  Zhezhong shares have repurchased 2,257,800 shares by the end of January, costing about 46 million yuan.

  Zhezhong shares announced that as of January 31, 2022, the company had repurchased 2,257,800 shares, accounting for 0.51% of the company’s total share capital, with the highest transaction price of 21.67 yuan/share and the lowest transaction price of 17.61 yuan/share, with a total transaction amount of 45,995,900 yuan (excluding transaction costs).

  Qianyuan Hailisheng, a subsidiary of Qianyuan Pharmaceutical, was re-recognized by high-tech enterprises.

  () Announcement: Zhejiang Qianyuanhai () Co., Ltd. (hereinafter referred to as "Qianyuanhai Lisheng"), a holding subsidiary of the company, recently received the Certificate of High-tech Enterprise jointly issued by Zhejiang Science and Technology Department, Zhejiang Finance Department and Zhejiang Taxation Bureau of State Taxation Administration of The People’s Republic of China, with the certificate number GR202133000177, the issuing date: December 16, 2021, and the validity period: three years. Wuyuan Hailisheng was previously recognized as a high-tech enterprise in 2012, 2015 and 2018, with a validity period of three years.

  Kelu Electronics: It is planned to transfer 65% equity of Xinlong Electronics to introduce powerful new shareholders to empower its development.

  Released on February 7-Kelu Electronics announced that the company intends to transfer its 65% equity in Xinlong Electronics by listing. Based on the appraisal report and audit report issued by asset appraisal institutions and professional audit institutions as the pricing reference, the reserve price of 65% equity of Xinlong Electronics in the property rights trading institutions is RMB 51.35 million, and the specific transaction price will be determined according to the results of public listing bidding. The company’s listing and transfer of 65% equity of Xinlong Electronics aims to introduce powerful new shareholders to empower the development of Xinlong Electronics, promote the operation of Xinlong Electronics to embark on a benign development track as soon as possible, re-realize the coordinated development of Xinlong Electronics and the company’s business, improve the efficiency of the company’s asset operation and maximize the overall interests of the company.

  China Tanya joined hands with EV Company to fully enter the "zero carbon" field.

  Our reporter Xie Lan

  On the evening of February 6th, () announced that its holding subsidiary had signed a Technology License Agreement with Energy Vault, Inc. (hereinafter referred to as "EV Company"), authorizing China Tanya to exclusively use the licensed technology to build and operate gravity energy storage system facilities in Chinese mainland.

  It is understood that the gravity energy storage technology introduced by China Tanya is "a kind of land pumped storage power station", which is a technological revolution of pumped storage power station. In the process of promoting the realization of the goal of "peak carbon dioxide emissions and carbon neutrality" in China, the market application prospect is broad. Relevant data show that 90% of the world’s energy storage facilities are pumped storage power stations, which are safe, stable and store a lot of energy, but there are some shortcomings such as high geographical requirements and high cost. The scale of renewable energy to be added in China’s double-carbon strategy is huge, but it has some problems such as unstable power generation frequency and poor regulation of peak-valley power generation, and it needs energy storage technology and facilities with large capacity, good safety, strong adaptability and low cost.

  The introduction of gravity energy storage technology into China Tanjung and its application in China will facilitate its application in all parts of the country, and reduce the construction and operation costs by leaps and bounds, which will greatly promote the development of energy storage market in China and have a very broad application prospect.

  At the same time, the gravity energy storage technology introduced by China Tanya will be deeply integrated with the company’s business, which can effectively realize the resource utilization of garbage disposal. China Catalpa Bunge’s business covers intelligent environmental services, waste incineration and power generation, investment, construction and operation of circular economy industry, reduction, recycling and harmless disposal of kitchen waste, hazardous waste and construction waste, etc., and has opened up the whole industrial chain from environmental cleaning, waste sorting and sanitation collection to terminal disposal. Using the advantages of China Tanjung in the whole industrial chain of environmental protection, the future gravity energy storage system can effectively use construction waste, slag, waste glass fiber and other wastes to make composite gravity blocks, so as to realize the reduction and recycling of waste and recycled materials to the greatest extent, and contribute to the recycling of waste resources in China.

  Analysts in the industry believe that the introduction of gravity energy storage technology into China Tanya will help to further broaden the industry technology and contribute to the coordinated development of energy storage industry towards "zero carbon green" and "economy". In 2017, the Guiding Opinions on Promoting Energy Storage Technology and Industrial Development jointly issued by five ministries and commissions pointed out that the energy storage industry has transitioned from R&D demonstration to initial commercialization. By 2021, the Guiding Opinions on Accelerating the Development of New Energy Storage proposes that China will continue to strengthen technological innovation in the energy storage industry, overcome key technologies, and promote cost reduction and large-scale development with technological progress, improve policy support and market environment, and cultivate mature business models.

  Compared with other energy storage methods, gravity energy storage has the characteristics of high efficiency, long service life, safety and environmental protection. This cooperation with EV Company to introduce gravity energy storage technology in China is not only an important starting point for China Tanya to enter the strategy of "environmental protection+new energy", but also a major measure to further promote the cost reduction and scale development of China’s energy storage industry and cultivate a more mature energy storage business model.

  It is understood that introducing gravity energy storage technology and striving to land in Rudong is an important step for China Tanya to take a "new energy" strategy, and gravity energy storage will be popularized throughout the country in the future. Previously, China Tianying signed a cooperation agreement with Rudong County Government to jointly build a regional zero-carbon energy demonstration center, including the construction of an energy storage center. Rudong area is rich in water resources and tidal flat resources, and has the development foundation of green energy industries such as solar energy, wind energy, tidal energy and biomass energy. As early as 2011, Rudong County built the largest offshore wind farm in China. Combined with the local resource endowment and industrial base, China Tanya has made the first gravity energy storage project in China a pilot project and built it into a benchmark project, which will be popularized in the whole country in the future, providing a new generation of solutions for energy storage construction on the power generation side of new energy.

  China Tianying said that as a large-scale international environmental protection and new energy listed company that insists on promoting enterprise development through scientific and technological innovation, it has formed a strategic layout of "environmental protection and new energy" through efforts in recent years. The gravity energy storage technology that the company will introduce and popularize, using its innovative storage mode and energy management platform, will not only improve the power generation and use quality of the company’s renewable energy, realize the high-quality utilization of renewable energy, and create a new business growth pole in the direction of new energy, but also promote the self-revolution of regional energy structure and industrial structure transformation under the strategic background of "peak carbon dioxide emissions and carbon neutrality" in China, so as to build a new pattern of renewable energy development in China.

  (Editor Li Bo)

  Haowu Co., Ltd. appointed Zhao Jijie as Secretary of the Board of Directors.

  () Announced that the company held the first meeting of the ninth board of directors on February 7, 2022, and reviewed and approved the Proposal on Appointment of General Manager and Secretary of the Board of Directors. The board of directors of the company agreed to appoint Ms. Zhao Jijie as the secretary of the board of directors of the company, and her term of office will be from the date of review and approval at this board meeting to the date of expiration of the ninth board of directors of the company.

  ST Shenji: The subsidiary was ruled by the court to accept bankruptcy liquidation and appointed an administrator.

  ST Shenji announced on the evening of February 7 that Heath Machine Tool (Shenyang) Co., Ltd., a wholly-owned subsidiary of the company, received the Civil Ruling from Tiexi District People’s Court of Shenyang. According to the civil ruling, the court ruled to accept the bankruptcy liquidation application filed by Shenyang Zhongsheng Automation Equipment Co., Ltd. on the grounds that Heath Machine Tool (Shenyang) Co., Ltd. was unable to repay the debts due and its assets were insufficient to pay off all the debts.

  In addition, randomly selected by the Litigation Evidence Appraisal Center of Shenyang Intermediate People’s Court, according to relevant regulations, Liaoning Chenggong Jinmeng Law Firm was appointed as the manager of Heath Machine Tool (Shenyang) Co., Ltd., with Cui Zengping as the person in charge.

  ST Shenji said that after Heath Machine Tool (Shenyang) Co., Ltd. entered the bankruptcy liquidation procedure, the company would lose control over it and would no longer be included in the scope of the company’s consolidated statements. This matter may have a certain impact on the company’s current profits, and the final impact will be determined according to the results of bankruptcy liquidation.

  Zhong Yurong, a shareholder of ST Huifeng, reduced his shareholding by more than 1%.

  () It was announced that Zhong Yurong, a shareholder of the company, reduced his holdings by 16.2 million shares through block transactions from January 26th to February 7th, 2022, with a reduction ratio of 1.07%.

  There are no undisclosed matters in the stock price change of Jianyi Group.

  () Announced that the deviation of the closing price of the company’s shares on January 27, 2022, January 28, 2022 and February 7, 2022 for three consecutive trading days has exceeded -20%, which is an abnormal stock fluctuation according to the relevant regulations of Shenzhen Stock Exchange.

  The company, the controlling shareholder and the actual controller do not have any major matters that should be disclosed but not disclosed about the company, and there are no major matters in the planning stage.

  Hai Shun New Materials: 1,379,300 restricted shares will be listed and circulated on February 10th.

  () Announcement: The number of restricted shares that can be released during the third restricted period of the restricted stock incentive plan in 2018 is 1,379,300 shares, accounting for 0.71% of the company’s current total share capital, and will be listed and circulated on February 10, 2022.

  Hekeda plans to change the control right and suspend trading on February 8.

  () Announcement: Today, the company received a notice from Yiyang Ruihecheng Holdings Co., Ltd. (hereinafter referred to as "Ruihecheng"), the controlling shareholder of the company, that Ruihecheng intends to transfer 20 million shares (accounting for 20% of the company’s total share capital) in its Kodak share agreement. If the above matters are finally reached, it will lead to changes in the controlling shareholder and actual controller of the company.

  In view of the fact that the above matters may involve the change of the company’s control right, and there are still uncertainties in the negotiation stage, in order to ensure fair information disclosure, avoid abnormal fluctuations in the company’s share price and safeguard the interests of investors, the company applied to the Shenzhen Stock Exchange for the suspension of the company’s shares from the morning of February 8, 2022 (Tuesday), and it is estimated that the suspension time will not exceed 2 trading days. The industry of the counterparty of this share transfer is: digital technology promotion and application service industry, which needs to be approved by the competent department in advance.

  Jiang Xinyu, vice president of Zhiguang Electric, reduced his holdings of 361,200 shares for more than half of the time.

  () Announcement. Recently, the company received the Letter of Notice on the Implementation Progress of Zhiguang Electric’s Share Reduction Plan issued by Mr. Rui Dongyang, Vice Chairman, and Mr. Jiang Xinyu, Vice President. As of the date of this announcement, according to the disclosed reduction plan, the implementation time of this reduction plan has been more than half, and Mr. Rui Dongyang has not reduced his shareholding in the company, and his shareholding has not changed; Mr. Jiang Xinyu reduced his holdings by 361,200 shares.

  Hanchuan Intelligent and GCL Energy Co., Ltd. reached a cooperation to change the power map to the next city.

  Our reporter Chen Hong.

  On February 7, 2022, Hanchuan Intelligent announced that the company and GCL Energy Technology Co., Ltd. (hereinafter referred to as "()") reached a strategic cooperation on January 28, 2022, and will increase the layout of power exchange business.

  According to the announcement, Hanchuan Intelligent and GCL Energy Co., Ltd. have carried out in-depth cooperation for five years on the whole station production, core module production, core component production, R&D cooperation of power exchange technology, power exchange station sales and other aspects of commercial vehicles and passenger cars. The two parties aim to give full play to their respective advantages in power exchange station business, supporting equipment, products and other fields through strong alliance, provide first-class solutions for new energy market applications, and help realize the goal of "double carbon".

  For this transaction, Song Qinghui, founder of qinghui think tank, said in an interview with Securities Daily: "The cooperation between the two parties is of great significance to Luanchuan Intelligent. On the one hand, it will help to further enhance the brand influence and core competitiveness of the company and provide more innovative solutions for the new energy market; On the other hand, it is conducive to thickening the company’s performance level, thereby promoting the company’s long-term steady development. "

  "Securities Daily" reporter learned that Hanchuan Intelligent is a leader in industrial automation and digitalization technology in China. It is an intelligent manufacturing overall solution provider integrating automation equipment and industrial software, focusing on core technologies such as industrial automation and digitalization, and focusing on automotive electrification and intelligent main track.

  According to the 2021 annual performance forecast recently released by Hanchuan Intelligent, it is estimated that the net profit attributable to shareholders of listed companies in 2021 will be 75.5 million yuan to 92 million yuan, which will increase by 31.3516 million yuan to 47.8516 million yuan compared with the same period of last year, with a year-on-year increase of 71.01% to 108.39%.

  GCL Energy is a leading mobile energy technology service provider in China, which is committed to providing integrated energy solutions for electric travel, sharing and exchanging electricity with technology, realizing efficient energy utilization and accelerating the low-carbon process of cities. In the plan of non-public offering of A-shares released in June last year, GCL said that it would invest 3.38 billion yuan in the construction project of new energy vehicle power station, which has been approved by the China Securities Regulatory Commission. It is reported that it plans to build more than 5,000 power exchange stations nationwide by 2025, and the power exchange service network covers more than 500,000 new energy vehicles.

  For this transaction, some insiders believe: "This cooperation is a milestone event of Hanchuan Intelligent in the field of new energy charging and replacing equipment, which indicates that its leading technology and batch delivery capability of charging and replacing equipment are highly recognized by customers, and it has established Hanchuan Intelligent’s position as the leading enterprise in the field of charging and replacing equipment. At the same time, this signing will provide a solid guarantee for the equipment supply of the new energy vehicle power station construction project of GCL-Nenko, and also lay the foundation for GCL-Nenko to realize the expected investment income in this project. The two sides will jointly give full play to their respective commercial advantages and achieve a comprehensive win-win situation. "

  Talking about the development prospect of the new energy power exchange market, Song Qinghui told the Securities Daily reporter: "The phenomenon of’ charging for one hour and queuing for four hours’ has been puzzling many consumers of new energy vehicles. Compared with charging piles, because the power exchange business has many characteristics such as instant change, high efficiency, stability and safety, it can effectively solve the problem of car owners’ power exchange, lay the foundation for uninterrupted operation of vehicles, and its future market development prospects are very broad."

  Zhang Xiaorong, president of the Institute of Deep Science and Technology, told the Securities Daily reporter: "The rapid development of new energy vehicles in China has put forward higher requirements for energy replenishment. The power exchange mode has obvious advantages in reducing the cost of car purchase and eliminating mileage anxiety, and is of great significance to promoting the development of new energy vehicles. At the end of last year, the Ministry of Industry and Information Technology issued a document, put forward the expected development goal of the power exchange model, and announced the promotion of the new energy vehicle power exchange model in 11 cities. Related businesses are actively planning and developing. "

  "Considering the current technical level, the battery life of new energy vehicles is limited, and the charging time is long, this kind of power exchange business that does not require on-site charging is indeed an eye-catching innovation field." An Guangyong, an expert member of the Credit Management Committee of the All-China M&A Association, told the Securities Daily reporter.

  "But from a long-term perspective, this field may not be an industry that only rises and does not fall. There are also many problems in the main power exchange mode, such as that the power exchange can only be realized between cars of the same model, but considering the emergence of a large number of new energy automobile brands at present and in the future, the customer groups that can benefit from it will be very limited; Frequent battery replacement may cause various problems such as poor contact due to its wear and tear; Like charging piles, power exchange also requires a large number of power exchange infrastructure. Secondly, we should take into account the future development of technology, such as its charging time will become shorter and shorter, and its endurance will become farther and farther. Therefore, from a short-term perspective, the demand for power exchange mode exists, but from a long-term perspective, the advantages of power exchange mode will gradually become smaller. But even so, the power exchange mode will not disappear, and there will still be corresponding demand in some special fields (such as public vehicles, taxis, etc.). " An Guangyong added.

  (Editor Bai Baoyu)

  Saimicroelectronics subsidiary received 48.4 million yuan from the government.

  (Announcement) On January 28th, 2022, Beijing Haichuang Chipscreen Technology Co., Ltd., a holding subsidiary of the company, received a subsidy of 26 million yuan from the Development and Reform Commission of Huairou District, Beijing for the "Advanced MEMS Process Design and Service Innovation Capacity Building Project of Beijing Engineering Research Center", and a semiconductor holding subsidiary of the company received a project subsidy of 22.4 million yuan on January 30th, 2022, with a total amount of 48.4 million yuan accounting for the latest audited net assets of the company (end of 2020).

  Hekeda: the controlling shareholder plans to change the control right, and the stock will be suspended from tomorrow.

  And Kodak announced on the evening of February 7 that the controlling shareholder Rui Hecheng intends to transfer 20 million shares (accounting for 20% of the company’s total share capital). If the above matters are finally reached, it will lead to changes in the controlling shareholder and actual controller of the company. The company’s stock will be suspended from the market opening on the morning of February 8, and it is expected that the suspension time will not exceed 2 trading days.

  Anke biotechnology: It is planned to buy back shares for 40 million yuan to 60 million yuan.

  () On the evening of February 7th, it was announced that the company intends to use its own funds to buy back some shares of the company in a centralized bidding transaction, and all the repurchased shares will be used to implement equity incentives or employee stock ownership plans. The repurchase amount is not less than 40 million yuan and not more than 60 million yuan, and the repurchase price is not more than 12 yuan/share.

  Anke biotechnology plans to spend 40 million to 60 million yuan to buy back shares, and the repurchase price does not exceed 12 yuan/share.

  Anke biotechnology announced that all the shares to be repurchased by the company will be used to implement equity incentive or employee stock ownership plan. The repurchase amount is not less than RMB 40 million and not more than RMB 60 million, and the repurchase price is not more than RMB 12 yuan per share.

  Huayin Investment, the major shareholder of Zhongyin Fashion, reduced its holdings by 3.01%, and the reduction period was more than half.

  () Announcement: As of January 31, 2022, the shareholders of Shihezi Haojia Venture Equity Investment Partnership (Limited Partnership) ("Haojia Venture") and their concerted actors Xiamen Haojia Wealth Investment Management Co., Ltd. ("Haojia Fortune") and Shihezi Haojia Industry Equity Investment Partnership (Limited Partnership) ("Haojia Industry") held more than 5% of the shares in Wenzhou Huayin Equity Investment Partnership.

  Xinning Logistics added 20 million yuan of overdue bank loans.

  Xinning Logistics announced that recently, the company and its wholly-owned subsidiary Kunshan Xinning Logistics Co., Ltd. added some banks, loans overdue, with overdue principal of 20 million yuan, accounting for 9.35% of the company’s latest audited net assets.

  As of the disclosure date of this announcement, the company has repaid the overdue bank loan principal of RMB 5,054,600, and the accumulated overdue bank loan amount of the company and its subsidiaries is RMB 70,945,400, accounting for 33.17% of the company’s latest audited net assets.

  Jinlang Technology: "Jinlang Convertible Bonds" will be subscribed on February 10th.

  () Announcement, the company will issue 897 million yuan of convertible corporate bonds ("convertible bonds"). The convertible bonds issued this time are referred to as "Jinlang Convertible Bonds" and the bond code is "123137". The priority placing date of the original shareholders of this convertible bond issue is the same as the online subscription date on February 10, 2022 (T-day), and the online subscription time is from 9:15 to 11:30 and from 13:00 to 15:00 on T-day.

  Lin Jing, director of Infineon, and his spouse’s short-term transaction

  () Announcement. Recently, the company received the Statement on Short-term Trading and Apology Statement issued by Ms. Lin Jing, the director of the company. It was learned that Ms. Lin Jing’s spouse, Mr. Dai Shangzhuo, had sold the company’s shares within six months before the restricted stock granted to the equity incentive plan was registered, which led to Ms. Lin Jing’s short-term trading.

  Because the spouse of the director Ms. Lin Jing has sold the company’s shares within 6 months before the grant of registration, Ms. Lin Jing does not meet the grant conditions of the restricted stock incentive plan in 2021, and the company will buy back and cancel its 84,000 shares of restricted stock incentive granted at the grant price. As the company will repurchase and cancel the 84,000 shares of restricted shares granted to Ms. Lin Jing, Ms. Lin Jing will not generate any income from this short-term transaction, so there is no situation of handing over the income to the company.

  Anke biotechnology plans to spend 40 million to 60 million yuan to buy back shares.

  Anke biotechnology announced that the company intends to use its own funds to buy back some shares of the company by centralized bidding, and all of them will be used to implement equity incentive or employee stock ownership plan. The repurchase amount is not less than 40 million yuan and not more than 60 million yuan, and the repurchase price is not more than 12 yuan/share.

  Shanghai Rural Commercial Bank: Vice President Shen Dong’s qualification was approved by the regulatory authorities.

  () On the evening of February 7th, it was announced that the company had recently received the Reply of Shanghai Banking Insurance Regulatory Bureau on Approving Shen Dong’s Qualification of Shanghai Rural Commercial Bank, and the Shanghai Banking Insurance Regulatory Bureau had approved Shen Dong’s qualification as the vice president of the company. According to the announcement, Shen Dong used to be the deputy general manager of Bank of Ningbo Risk Management Department, the general manager of Bank of Ningbo Science and Technology Department, the general manager of Bank of Ningbo Financial Technology Department and the general manager of Shanghai Rural Commercial Bank Financial Technology Department.

  Mingdiao shares: It has fallen by more than 20% in the past three trading days, and there is no matter that should be disclosed but not disclosed.

  On the evening of February 7th, () announced that the company’s stock trading price fell more than 20% from the closing price in three consecutive trading days. According to relevant regulations, this situation belongs to the abnormal fluctuation of stock trading. The company said that it has been confirmed that there are no matters that should be disclosed but not disclosed, or plans, discussions, intentions, agreements, etc. related to this matter; The board of directors has not been informed that the company has information that should be disclosed but not disclosed, which has a great impact on the company’s stock trading price; There is no need to correct or supplement the information disclosed by the company in the early stage.

  Baoxin Technology’s application for non-public offering of shares was approved by China Securities Regulatory Commission.

  () Announced that the issuance review committee of China Securities Regulatory Commission reviewed the company’s application for non-public offering of shares on February 7, 2022. According to the results of the meeting, the company’s application for non-public offering of shares was approved.

  Yongxing materials: the wholly-owned subsidiary received a financial subsidy of 43.2608 million yuan.

  Yongxing Materials announced on the evening of February 7 that Huzhou Yongxing Materials Recycling Co., Ltd., a wholly-owned subsidiary of Yongxing Materials, recently received a financial subsidy of 43.2608 million yuan from Huzhou Finance Bureau in the form of cash subsidy. As of the date of this announcement, all the subsidy funds have been received. The government subsidy obtained this time belongs to the financial subsidy for recycling renewable resources, which is related to the daily business activities of the company and has sustainability.

  Tianjian Group: The subsidiary intends to acquire 70% equity of Shenzhen Xingchen Company from the controlling shareholder of the company.

  Tianjian Group announced that the board meeting of the company deliberated and passed the proposal, and agreed that Tianjian Real Estate Group, a wholly-owned subsidiary of the company, would acquire 70% equity of Shenzhen Shenxingchen Technology Development Co., Ltd. held by Shenzhen Special Zone Construction Engineering Group Co., Ltd., the controlling shareholder of the company, for RMB 201,611,270. This transaction is to purchase assets from the controlling shareholder of the company and obtain high-quality land in Shenzhen. Subsequent development and sales will further provide resources for the company’s comprehensive development business.

  Huang Sishi intends to provide a total loan of 120 million yuan to Jinke Enterprise Management by reducing all shares of Jinke.

  On February 7th, Jinke Co., Ltd. issued an announcement on shareholders’ reduction of shares in the company and an announcement on related natural persons providing funds to the company to support the company’s development and related transactions.

  According to the announcement, Huang Sishi has reduced the company’s shares by 45,649,400 shares through centralized bidding and block trading in the secondary market, accounting for 0.85491%, with an average price of 4.38 yuan per share. No longer hold shares after this reduction.

  Previously, it was disclosed that Huang Sishi, a related natural person of the company, recently reduced his shareholding in the company through centralized bidding in order to repay the due financing needs of financial institutions, and plans to continue to support the development of listed companies according to his own cash flow arrangement and company needs in the coming year.

  In view of this, in order to further support the company’s development, Huang Sishi plans to sign a Loan Contract with Chongqing Jinke Enterprise Management Group Co., Ltd. ("Jinke Enterprise Management"), a holding subsidiary of the company, and provide Jinke Enterprise Management with a total loan of RMB 120 million, with a loan term of one year. Within the above loan amount and term, it can be borrowed at the same time, and the annual interest rate of this loan is 10%.

  Huang Sishi is a direct relative of Huang Hongyun, the actual controller of the company, and a related party of the company, so this transaction constitutes a connected transaction.

  In addition, Jinke Co., Ltd. issued an announcement on delaying the reply to the letter of concern of Shenzhen Stock Exchange. At present, the company has fully communicated with the intermediary agencies on some issues involved in the letter of concern, and it still needs to issue verification opinions after the intermediary agencies complete the internal audit procedures before it can be disclosed. Therefore, the company has not announced the contents of the reply to the public. The company has applied to Shenzhen Stock Exchange for an extension of reply, and will actively promote relevant work, complete the reply to the letter of concern as soon as possible and fulfill the obligation of information disclosure in time.

  According to the announcement, the above-mentioned loan provided by the company’s affiliated natural persons aims to support the company’s development, meet the company’s business development and supplement the company’s working capital.

  Jinke shares applied for delayed reply to the letter of concern of Shenzhen Stock Exchange.

  On February 7, Jinke announced that it had applied to Shenzhen Stock Exchange for an extension of reply to the letter of concern on January 22.

  At present, the company has fully communicated with the intermediary on some issues involved in the Letter of Concern, and it still needs to issue verification opinions after the intermediary completes the internal audit procedures before it can be disclosed, so the company has not announced the contents of the reply to the outside world.

  It is reported that on January 22, the Shenzhen Stock Exchange issued a letter of concern to Jinke. The letter of concern pointed out that Tao Hongxia and Huang Sishi, shareholders of the company, dissolved the relationship of concerted action with Huang Hongyun, the actual controller of the company. At the same time, Huang Hongyun signed a Concerted Action Agreement with the company’s shareholders Hongxing Furniture Group Co., Ltd. and Guangdong Hongmin Enterprise Management Consulting Co., Ltd., and Huang Hongyun’s shareholding ratio decreased from 29.99% to 29.36%. After this equity change, Huang Hongyun remains the actual controller of Jinke.

  The Shenzhen Stock Exchange requires that the shareholding structure of Hongxing Furniture Group and Guangdong Hongmin be additionally disclosed, and whether there is any relationship between them and Jinke, the controlling shareholder, the actual controller and Dong Jiangao, whether there are other undisclosed potential agreements and arrangements, whether it may have an impact on the stability of the company’s control rights, and make special risk warnings.

  On the same day, Jinke Real Estate Group Co., Ltd. announced that by the end of January, the company had bought back 42,697,900 shares by centralized bidding through the special securities account, accounting for 0.80% of the total share capital, with the highest transaction price of 5.16 yuan/share, the lowest transaction price of 4.03 yuan/share and the total transaction amount of 190 million yuan (excluding transaction costs).

  It is understood that Jinke shares reviewed and passed the proposal on July 12, 2021. The total amount of funds planned to be used is not less than 500 million yuan (including 500 million yuan) and not more than 1 billion yuan (including 1 billion yuan) to repurchase some shares. The implementation period of repurchase is within 12 months from the date when the board of directors reviewed and approved the share repurchase plan.

  Kelu Electronics plans to list and transfer 65% equity of Xinlong Electronics.

  On the evening of February 7th, Kelu Electronics announced that the company planned to transfer 65% equity of Shenzhen Xinlong Electronic Technology Co., Ltd. (hereinafter referred to as "Xinlong Electronics") by listing, with a reserve price of 51.35 million yuan.

  It is understood that Xinlong Electronics is a high-tech enterprise that produces carrier chips. Lu Electronics acquired 100% equity of Xinlong Electronics in 2015.

  Regarding the reason for the transfer of 65% equity of Xinlong Electronics, Kelu Electronics said that due to the technical upgrading of communication module products, broadband communication technology was gradually adopted, and State Grid Corporation of China also adjusted relevant policies after the technical upgrading of products, which led to drastic changes in the market competition pattern of carrier products and intensified industry competition. Moreover, the founding team members of Xinlong Electronics have also left their jobs one after another, resulting in a sharp decline in the market share of Xinlong Electronics and a sharp decrease in operating income compared with that before the acquisition. At present, its operating conditions have been unable to realize the original industrial chain layout of the company.

  Beijing business today reporter noted that when it was acquired in 2015, 100% equity of Xinlong Electronics was valued at 531 million yuan.

  Due to the repayment of the due financing, Huang Sishi, the daughter of Huang Hongyun, the real controller of Jinke, emptied her shares.

  On February 7, Jinke Real Estate Group Co., Ltd. (hereinafter referred to as "Jinke Shares") announced that it had received a notice from its shareholder Huang Sishi that it had reduced its holdings of about 45,649,400 shares through centralized bidding and block trading in the secondary market, with a reduction ratio of 0.85491%. After this reduction, the number of shares held by Huang Sishi in Jinke is 0.

  On the same day, another announcement issued by Jinke Co., Ltd. showed that Huang Sishi’s reduction of Jinke Co., Ltd. was to repay the due financing needs of financial institutions, and he planned to continue to support the development of listed companies according to his own cash flow arrangements and the company’s needs in the coming year. In view of this, Huang Sishi intends to sign a Loan Contract with Chongqing Jinke Enterprise Management Group Co., Ltd., a holding subsidiary of Jinke Co., Ltd., and provide it with a total loan of 120 million yuan. The loan period is one year. Within the above-mentioned loan amount and term, it can be borrowed at the same time, and the annual interest rate of this loan is 10%.

  According to the announcement, Huang Sishi is the daughter of Huang Hongyun, the actual controller of Jinke, and is a related party of the company, so this transaction constitutes a connected transaction.

  Beijing News reporter Xu Qian

  Editor Yang Juanjuan proofreads Li Ming.

  Dier Laser: "Dier Convertible Bonds" can be converted into shares at a price of 192.24 yuan/share from February 11th.

  () Announcement, the company’s 840 million yuan convertible corporate bonds (referred to as "Dier Convertible Bonds", bond code "123121") can be converted from February 11, 2022, and the conversion price is RMB 192.24 per share, and the conversion period is from February 11, 2022 to August 4, 2027.

  Yanghe shares: Fu Hongbing, vice president, retired at age.

  Yanghe Co., Ltd. (stock code: 002304) announced today that the board of directors of the company recently received an application for resignation from Fu Hongbing, vice president of the company. Fu Hongbing applied to resign as vice president of the company because he reached the statutory retirement age, and he no longer held any position in the company after his resignation.

  Yanghe Co., Ltd. said that according to the relevant laws and regulations and the provisions of the company system, Fu Hongbing’s resignation application will take effect when it is delivered to the company’s board of directors.

  (Editor: Han Yijia)

  [Company] opened a medical electronic lower digestive tract endoscope to obtain a medical device registration certificate.

  According to the medical evening announcement, the company’s electronic lower digestive tract endoscope has been approved by Guangdong Drug Administration, and recently obtained the registration certificate of medical devices in People’s Republic of China (PRC).

  The announcement shows that the product is used in conjunction with the medical endoscope image processor produced by the company to provide images for observation, diagnosis and treatment of lower digestive tract (including anus, rectum, colon and ileocecum) through video display. Compared with the outside diameter of 12.5mm for ordinary colonoscopy, the outside diameter of this product is only 9.5 mm. The success rate of cecal insertion and the completion rate of total colon examination are the same for patients undergoing ultra-fine colonoscopy, but the uncomfortable reactions such as abdominal pain and abdominal distension are greatly reduced. The company said that it is impossible to predict the impact of the above products on the company’s future performance. (Panorama Network)

  Sunshine City: Bonds such as "20 Yangcheng 01" were only traded in the form of agreed block trading after the suspension and resumption of trading on February 8.

  On February 7, Sunshine City Group Co., Ltd. issued a bond announcement saying that Oriental Jincheng downgraded the company’s main credit rating from AA to BBB, and the rating outlook was negative. According to relevant regulations, upon the application of the company, "20 Yangcheng 01", "20 Yangcheng 02", "20 Yangcheng 03", "20 Yangcheng 04", "21 Yangcheng 01" and "21 Yangcheng 02" were suspended for one trading day from the opening of the market on February 8, 2022, and resumed trading on February 9, 2022.

  Senyuan shares: 80,736,190 shares pledged by the controlling shareholder were extended.

  On February 7th, () announced that the company had recently received a notice from Guo Songsen, the controlling shareholder of the company, and learned that it had extended the pledge of some shares of the company, involving a total of 80,736,190 shares. After the extension, the pledge expiration date was January 27th, 2023.

  Guo Songsen, the controlling shareholder of the company, has pledged a total of 118,916,190 shares of the company, accounting for more than 80% of the shares held by him. Please pay attention to the relevant risks.

  The recent average cost of Senyuan shares is 3.60 yuan, and the stock price runs above the cost. In the short market, the current rebound trend has slowed down, and investors can pay due attention to it. In the past five days, the stock funds have generally been in an outflow state. According to statistics, the main force did not control the disk in the past 10 days. The company’s operating conditions are acceptable, and it has not been significantly recognized by most institutions for the time being, so it can continue to pay attention to it in the future.

  Zhongqingbao: The controlling shareholder pledged 1.5 million shares.

  On February 7th, Zhongqingbao announced that the company had recently received a letter from Baode Science and Technology Group Co., Ltd., the controlling shareholder of the company, and learned that some of its shares were pledged, with 1.5 million shares pledged this time.

  The recent average cost of Zhongqingbao is 23.38 yuan, and the stock price runs above the cost. In the short market, the current rebound trend has slowed down, and investors can pay due attention to it. In the past five days, the stock funds have generally flowed in. According to statistics, the main force did not control the disk in the past 10 days. The company is operating well, and most institutions think that the long-term investment value of the stock is average.

  Adil’s subsidiary illegally invoiced 194 million yuan for illegal profits and was punished by the tax authorities.

  Every reporter Zhao Linan, every editor Wei Guanhong

  On February 7th, Adele (002740, SZ) announced that its wholly-owned subsidiary Jiangsu Millennium Jewelry Co., Ltd. (hereinafter referred to as Millennium Jewelry) recently received the Decision on Tax Administrative Punishment issued by the Third Inspection Bureau of Nanjing Taxation Bureau in State Taxation Administration of The People’s Republic of China.

  The reporter of national business daily noticed that Millennium Jewelry issued invoices totaling about 194 million yuan to two new energy companies in Jiangxi Province in violation of the relevant provisions of the Measures for the Administration of Invoices in People’s Republic of China (PRC), and made an illegal profit of about 260,000 yuan.

  Prior to this, Eddie released the "2021 Annual Performance Forecast", and it is estimated that the net profit loss attributable to shareholders of listed companies in 2021 will be about 600 million yuan to 785 million yuan, mainly due to the impairment loss on the corresponding assets. Subsequently, the Exchange issued a Letter of Concern to Adil.

  Invoice 194 million yuan to two new energy companies.

  According to Eddie’s announcement, Millennium Jewelry violated the relevant provisions of the Measures for the Administration of Invoices in People’s Republic of China (PRC), and issued an invoice of 194 million yuan to two new energy companies in Jiangxi Province, with a tax of about 25.23 million yuan and an illegal profit of about 260,000 yuan.

  Therefore, the Millennium Jewelry was confiscated by the Third Inspection Bureau of Nanjing Taxation Bureau in State Taxation Administration of The People’s Republic of China, and its illegal income was more than 260,000 yuan, and a fine of 500,000 yuan was imposed.

  The reporter of national business daily noticed that as early as May 2020, Millennium Jewelry received the Notice of Tax Matters issued by the Third Inspection Bureau of Nanjing Taxation Bureau, requesting to check its tax-related situation.

  On April 30th last year, in reply to the Letter of Concern of Shenzhen Stock Exchange, Adele said: "Millennium Jewelry, as an upstream supplier of alloy business, has real business in all links and complete procedures, and provided relevant information to the tax bureau in time, and made a detailed explanation and reply on the relevant situation."

  Also in the reply announcement, Wang Binkang, then the independent director of Adil, gave another statement on the issue of the Millennium jewelry invoice.

  Wang Binkang believes that his exercise of the functions and powers of independent directors has been hindered. Wang Binkang said that I directly asked Comrade Li Yong in my live speech why he didn’t report the relevant materials about a false VAT invoice involved in Jiangsu Millennium Jewelry to Eddie Company. Comrade Li Yong asked me on the spot: "To whom?" I immediately replied, "Show it to me." Independent directors have the right to know the important information of the company when they perform their duties normally. Up to now, Comrade Li Yong has not submitted any materials involved to the independent directors.

  Li Yong referred to by Wang Binkang is Li Yong, the chairman of Adil. Before Adil acquired Millennium Jewelry, Li Yong was the actual controller of Millennium Jewelry.

  "Therefore, I can’t guarantee the authenticity of the company’s 2020 Annual Report and 2020 Annual Report Summary, and I can’t guarantee the authenticity of the company’s first quarter report in 2021. Due to my recent business trip in Beijing, my signature confirmation opinions on the 2020 Annual Report, the 2020 Annual Report Summary and the company’s first quarter report in 2021 are misoperation. " Wang Binkang said.

  There are constant internal problems in the company

  In September last year, Adil issued an "Announcement on Receiving the Application of Shareholders of the Company for Convening an Extraordinary General Meeting". The extraordinary shareholders’ meeting of Adil was proposed by Su Riming, more than 10% of its shareholders, and the relevant proposals were full of gunpowder.

  Su Riming said in the Letter of Request that the Third Inspection Bureau of Nanjing Taxation Bureau has basically found out that Millennium Jewelry is suspected of falsely issuing VAT invoices, and the tax inspection organ has transferred the case to the public security organ, and is investigating Millennium Jewelry and its legal representative, Chairman Li Yong, in accordance with criminal procedures.

  "Li Yong has other suspected crimes such as infringing on the interests of the company and the interests of shareholders, and there are many situations in which he is not suitable to serve as a director, chairman, president and legal representative of the company." The announcement of Adil quoted Su Riming’s "Request Letter" as showing.

  According to Eddie’s announcement, at that time, Eddie’s board of directors thought that Su Riming’s statement that "the tax inspection organ has transferred the case to the public security organ and is investigating Millennium Jewelry and its legal representative, Chairman Li Yong, in accordance with criminal procedures" lacked official authoritative evidence, and the basis for drawing Li Yong’s dismissal was not sufficient.

  In the end, the board of directors of Adil did not agree to convene this extraordinary general meeting of shareholders, and Li Yong is still the chairman of Adil.

  In September last year, Adele was also sued by Wang Junxia, one of the original shareholders of Millennium Jewelry. According to the previous announcement of Adil, Li Yong and Wang Junxia are husband and wife. The main content of Wang Junxia’s lawsuit against Adele is to demand that the cumulative promised net profit of Millennium Jewelry from 2017 to 2020 in the Profit Compensation Agreement signed with Li Yong at that time be reduced by 35 million yuan.

  In the announcement, Adil said that the accumulated net profit promised by Millennium Jewelry from 2017 to 2020 was not less than 297 million yuan, and the actual completion was about 264 million yuan, and the performance commitment was not completed.

  According to Adele’s announcement, Wang Junxia’s lawsuit reason is that "after the completion of the equity transfer of Millennium Jewelry, some equity transfer funds have not been paid, and Adele has caused a large number of lawsuits due to its own debt crisis, which has seriously affected the financing ability and brand image of Millennium Jewelry. In addition, the continuous superposition of the COVID-19 epidemic in 2020 has caused the 2020 annual performance of Millennium Jewelry to fail to meet expectations."

  According to the previous 2021 performance forecast of Adil, one of the reasons for its pre-loss is the full impairment of the goodwill of Millennium jewelry. The Shenzhen Stock Exchange also issued a Letter of Concern, asking Adil to explain the specific reasons leading to the large loss in 2021 and the calculation of the amount affected, itemizing the scope of assets to be depreciated, the reasons for impairment and the estimated amount of impairment, whether the accounting policy and determination basis for the provision for impairment of assets have changed significantly compared with the same period of last year, and whether the impairment of related assets conforms to the relevant provisions of the Accounting Standards for Business Enterprises.

  Yiwei Lithium can join hands with Huizhou Municipal Government to build a 100 billion-level new energy battery industry cluster.

  Yiwei Lithium Energy announced that the company and Huizhou Municipal People’s Government signed the Strategic Cooperation Framework Agreement on January 29, 2022, and the two sides will deepen strategic cooperation, build Huizhou’s 100 billion-level new energy battery industry cluster, and support the company’s further development and growth. The main contents of the agreement include Huizhou Municipal People’s Government’s legal support to ensure the construction needs of the company’s new projects, and providing necessary industrial support to the project investors in accordance with laws and regulations; When the land supply and energy supply meet the landing conditions of the project, the total output value of the company and holding companies will reach 100 billion yuan by 2025, which will help Huizhou’s new energy battery industry develop and grow.

  [Company Report]

  The net profit of Yiwei Lithium Energy in 2021 is expected to increase by 65%-85%.

  Yiwei lithium can disclose performance forecast. The company expects a profit of 2,725,856,800-3,056,263,700 yuan in 2021, an increase of 65.00%-85.00% over the same period of last year. During the reporting period, the company’s sales expanded and its operating income increased by more than 100%. Among them, the business of consumer batteries and power storage batteries has increased substantially, and their profits have increased. The sales scale and profit of Simor International Holdings Co., Ltd., the company’s indirect shareholding company, increased substantially, which brought about a substantial increase in the company’s investment income.

  Yiwei Lithium Energy: It will directly hold 49% equity of Xinghua Lithium Salt.

  Yiwei Lithium Energy announced that recently, the company received the Notice of Bidding Results and signed the Property Right Transaction Contract with Qinghai Chaidamu Development and Construction Investment Co., Ltd. (hereinafter referred to as "Chai Jiantou"), which successfully won 35.2857% of the equity of Qinghai Chaidamu Xinghua Lithium Salt Co., Ltd. (hereinafter referred to as "Xinghua Lithium Salt") held by Chai Jiantou, and the final transaction price was 144,123,900 yuan (excluding the bidding service fee). The Company signed the Equity Transfer Agreement with Zhai Yanhong, the shareholder of Xinghua Lithium Salt, and received 13.7143% equity of Xinghua Lithium Salt held by Zhai Yanhong for RMB 56,015,848 with reference to the above-mentioned auction transaction amount of the Company. After signing the Property Right Transaction Contract and the Equity Transfer Agreement, the company will handle the property right handover procedures of the above-mentioned Xinghua lithium salt equity according to relevant regulations. After the above transaction is completed, the company will directly hold 49% of the equity of Xinghua Lithium Salt, which will help the company to further focus on the main business of lithium batteries and has positive significance for the company to explore the upstream industrial chain and optimize the industrial layout.

  Huanrui Century’s participation in the movie box office is gratifying.

  Huanrui Century announced on the evening of February 7th that the film "Bears Come Back to Earth" co-produced by Huanrui Dongyang, a wholly-owned subsidiary of the company, was released in Chinese mainland on February 6th at 24: 00. According to incomplete statistics, the cumulative box office revenue (including service fee) has exceeded 562 million yuan, exceeding 50% of the operating income of the company’s audited consolidated financial statements in the latest fiscal year. The company’s operating income from the film (currently box office income) is about 7.5 million yuan.

  The company also suggested that the film is still being released at present, and its box office income in Chinese mainland area is subject to the statement officially confirmed by the cinemas in Chinese mainland area; At the same time, the film’s copyright sales revenue in Chinese mainland has not been settled. There may be differences between the box office income and the actual business income of the company (including but not limited to the income calculated according to the confirmed box office income and the corresponding accounting method after the film is released in the cinema, the film copyright sales income and other income).

  According to reports, "Bears Coming Back to Earth" is the eighth film in the series of "Bears Coming Back", which has become an essential family movie for the Spring Festival. Focusing on the theme of heroes, the film hopes to convey that "all Xiong Haizi can be heroes as long as they are kind and brave". Its imaginative scenes, joyful viewing atmosphere and excellent production level have aroused wide acclaim and heated discussion among the audience.

  In addition, the company’s participation in the co-production of Watergate Bridge of Changjin Lake has also achieved gratifying box office, and another participating film, A Ten-year Taste is as Warm as a Word, will be released on Valentine’s Day on February 14th.

  Huanrui Century also disclosed the progress of share repurchase. As of January 31st, the company had repurchased 10,116,700 shares by centralized bidding, accounting for 1.0313% of the total share capital. The highest transaction price was 3.50 yuan/share, and the lowest transaction price was 3.18 yuan/share, with a total turnover of about 33,995,600 (excluding transaction costs). According to the plan, the company will use its own funds of 30 million yuan (inclusive) to 50 million yuan (inclusive) to buy back some public shares at a price not exceeding 4.2 yuan/share (inclusive), and the repurchased shares are intended to be used to implement the equity incentive plan or employee stock ownership plan.

  Qianhai Life Insurance reduced its holdings of OCT by over 47.74 million shares and cashed in about 373 million yuan.

  On the evening of February 7, Shenzhen OCT Co., Ltd. (referred to as "OCT") announced the progress of shareholders holding more than 5% shares and concerted parties in reducing their shares, saying that Qianhai Life Insurance Co., Ltd. (referred to as "Qianhai Life Insurance") recently reduced its holdings of OCT by about 47.7439 million shares.

  According to the announcement, OCT received the Letter of Notice from Qianhai Life Insurance and Shenzhen Jushenghua Co., Ltd. (hereinafter referred to as "Jushenghua") on February 5. According to the contents of the notification letter, Qianhai Life Insurance reduced its holdings of OCT by about 47,743,900 shares. The reduction was conducted by centralized bidding. The reduction time was from December 30, 2021 to January 24, 2022, with an average reduction of 7.82 yuan/share, accounting for 0.58% of the total share capital of OCT, and the total cash amount was about 373 million yuan.

  After this reduction, Qianhai Life Insurance and Qi Shenghua, a concerted action person, held 607 million shares, accounting for 7.4% of the total share capital.

  Beijing News reporter Xu Qian

  Editor Yang Juanjuan proofreads Jia Ning.

  The controlling shareholder intends to transfer 20% equity and Keda or change owners.

  Hekeda announced on the evening of February 7 that Yiyang Ruihecheng Holdings Co., Ltd. (hereinafter referred to as "Ruihecheng"), the controlling shareholder, plans to transfer 20 million shares of the company, accounting for 20% of the company’s total share capital. If the above matters are finally reached, it will lead to changes in the controlling shareholder and actual controller of the company. The company’s stock will be suspended from the market opening on the morning of February 8, 2022, and the suspension time is expected to be no more than 2 trading days.

  According to public information, Ruihecheng holds a total of 29.99 million shares of Hekeda, with a shareholding ratio of 29.99%. According to the announcement, the above matters are in the negotiation stage and there are still uncertainties. The counterparty of this share transfer belongs to the digital technology promotion and application service industry, and the transaction needs to be approved by the competent department in advance.

  He Keda said that during the suspension period, the parties to the agreement will negotiate the terms of the transaction agreement, and the company will fulfill its information disclosure obligations in a timely manner in strict accordance with the relevant provisions of laws and regulations according to the progress of related matters. After the above matters are confirmed, the company will issue relevant announcements in time and apply for the resumption of trading of the company’s shares.

  Founded in Shenzhen in 1994, Hekeda is a national high-tech enterprise mainly engaged in the research, development, design, manufacture and sales of liquid crystal electronic (flat-plate) glass cleaning equipment, industrial ultrasonic cleaning equipment, surface treatment (electroplating) equipment and industrial pure water equipment, and is also one of the earliest enterprises engaged in the production of precision cleaning equipment in China.

  In the 2021 annual performance forecast released on January 20, Hekeda said that it is estimated that the net profit attributable to shareholders of listed companies will reach 16 million yuan to 22 million yuan in 2021, turning losses year-on-year. The change in performance is mainly due to the increase in operating income, the decrease in impairment losses and the investment income from the sale of 100% equity of Suzhou and Keda Ultrasonic Equipment Co., Ltd., a subsidiary. The investment income generated by the sale of subsidiaries belongs to non-recurring gains and losses, and it is estimated that the impact on the net profit attributable to shareholders of listed companies in 2021 will be about 50 million yuan to 60 million yuan.

  On January 21st, Hekeda received a letter of concern from Shenzhen Stock Exchange, and was asked to explain whether the provision for impairment losses in previous years was sufficient.