Author: Zhao Weifang

Recently, Iqiyi launched the movie label of "Action Master Season" online, and launched four action-type films: Stop the Horse and Take the Knife, Arrogant 2, Stop Evil, and Strange Knife. It combines action, martial arts, suspense, comedy, drama and many other elements. Among them, As a pure martial arts genre in ancient costume, The Stranger’s Mad Knife describes an reclusive charcoal seller Tian Anye who was inadvertently involved in the court coup to usurp power. He joined forces with other chivalrous men such as Qin Gu, the former head of the Prince, to stand up and uphold justice for the prince’s widow Nie Linger and the oppressed people in distress, showing the chivalrous demeanor in China’s traditional ethics. This film is devoted to the genre creation of costume martial arts, especially in the aspect of genre narration and fighting action. On the basis of returning to the classic Chinese action genre film, it has achieved some transcendence.

Action types are the classic types in Chinese movies, among which the action types in Hong Kong movies are the epitome of Chinese action types. After more than half a century’s development, they reached the peak of aesthetics in the 1980s and 1990s. The chivalrous spirit led by China’s Confucianism, such as getting rid of violence, helping justice, once upon a time in america and forbearing practice, has become the subjective ideological output of these films; A series of action elements, which combine the performance of China North School and the actual combat of China South School, and are designed according to the specific characters’ personalities and performance space, have become another essence of Chinese action films. Therefore, Chinese action movies have a strong artistic vitality and are constantly advancing aesthetics; This kind of films not only have a wide audience in Chinese-speaking areas, but also helped China films to enter the world mainstream film market twice in the early 1970s and the early 21st century, thus realizing the effective international spread of China films.

Due to the shortage of talents, lack of innovation, capital flight and other reasons, this classic China film has shown less and less situation in the Chinese film market in recent years, and its performance in the cinema market is also very weak. However, judging from a series of data of online movies and online dramas in recent years, this content creation type with the most China characteristics still has a considerable number of potential audiences in China and other parts of the world, and the fundamentals of its audience have not changed fundamentally, but the broad audience, especially the cinema audience, has a strong demand for its innovation, and there is no way out to repeat the past. The film labels of "Stranger Knife" and "Action Master Season" launched by iQiyi are undoubtedly the response to this appeal.

The Stranger Knife follows the theme and genre narration of traditional martial arts films, but it adds new elements on this basis. First, the film does not set Tian Anye’s formulated chivalrous character, but focuses on the passivity of his participation in rescuing Nie Linger’s mother and son, and his chivalrous actions are gradually stimulated in this passivity, thus giving this character a more three-dimensional character and more growth arcs.

At the same time, the film also gives more folk and individual expression to Nie Linger’s feelings, and gives a rich display to Qin Gu’s behavior of being an enemy and a friend, and also gives a humorous portrayal to another key chivalrous man, Qiansun Zhao. This characterization not only increases the appreciation of the film, but also gives the film more humanistic value and modernity.

Secondly, on the specific narrative level, The Stranger’s Mad Knife did not follow the revenge routine of traditional martial arts films step by step, but expanded in the present. For example, when Tian Anye, Qiansun Zhao and Qin Gu took Nie Linger and his mother to break through, the film designed four barriers that they wanted to break through, and each barrier was animated in the film. Tian Anye and others’ breakthroughs in these four barriers were like the breakthrough in the game. This narrative setting makes the film more contemporary and can generate more empathy with the mainstream audience in the new media era.

The film’s innovative performance is also reflected in the action design and super weapon design. First of all, the film designs corresponding actions according to the characters’ personality and behavior characteristics, so as to better show the artistic charm of action types. For example, when Tian An Ye began to rescue Nie Linger’s mother and son, his identity was a charcoal seller, and the carbon element occupied the dominant position in the picture. The action design around Tian An Ye was also full of carbon element, especially in the scene where he defeated the Fei Fei army in the dark with a charcoal stick. The burning charcoal stick danced like fireworks in the night, which produced a strong visual impact. In the second half of the film, the audience knows Tian Anye’s true identity as the head coach of the Mo Dao Army, and his fighting action is no longer full of charcoal elements but the actual combat of Mo Dao.

For Zhang Xuqing, the leader of the anti-angle flying army, he was suppressed by the King of Qi, and threatened by Liu Bingfeng, the deputy leader. In this kind of crevice, the founder designed weapons with long and short knives for him, which highlighted his toughness in fighting. Qin Gu’s style in the film is a white hat with a black veil. She has a pure personality and a gray area that she is most reluctant to mention. She strives to solve the confrontation quickly. Therefore, the film designs her movements to highlight the characteristics of quickness. When she shoots, the knife will not be drawn, and she will win immediately, emphasizing "the martial arts in the world, only fast and unbreakable".

Secondly, the film highlights Tian Anye’s strange knife and its fighting. According to historical data, the film restores the strange knife used by Tian Anye according to the actual size, which is about 2.6 meters long and weighs dozens of kilograms. Such a super weapon has never appeared in previous martial arts shooting. The creative team also designed a new knife method according to the personality of the characters and the characteristics of this knife. This knife method was particularly fully displayed in the scene where Tian Anye fought Zhang Xuqing’s long and short knives with a strange knife at the end of the film. The two weapons formed a sharp contrast. The fighting tactics of the knife method and the rigidity and softness of your coming and going all reflected the bold innovation of the creative team in weapon design and action guidance, which further expanded the action type elements of domestic martial arts films.

As a martial arts film with an expanding mission, the film also has room for improvement. The first is the recurring camel phantom, which seems unnecessary in the play. Secondly, the four barriers of film design lack a sense of progressive upgrading, which reduces the sense of game entertainment of the film. However, at a time when the action genre, especially the martial arts genre, needs to be revived, the brand of "Action Master Season", especially "A Stranger’s Sword", is undoubtedly of great significance.

(The writer is the director of the Film and Television Research Institute of China Academy of Art and the vice president of China Film Criticism Society.)

From January 1, 2024, the Notice on Further Regulating the Residential Property Service Charges in Guangzhou (hereinafter referred to as the "new regulations") issued by Guangzhou Development and Reform Commission, Guangzhou Housing and Urban-Rural Development Bureau and Guangzhou Market Supervision Bureau will be formally implemented.

According to the new regulations, the first-class residential property service fee in Guangzhou should not exceed 2.8 yuan per square meter per month, and the parking space property management fee should not exceed 120 yuan per month. In response to this regulation, many citizens have raised questions about "who has the final say in the standard of residential property fees" and "whether their own property fees have dropped".

Recently, in order to ensure the implementation of the new regulations, the Municipal Development and Reform Commission issued authoritative answers to the hot issues of public concern, responding to public concerns.

1. What items are applicable to the new regulations (including service levels and charging standards) that will take effect on January 1, 2024?

A:According to the second paragraph of Article 29 of the new regulations, from January 1, 2024, if the newly-built ordinary residential construction unit has not hired a property service provider, the service level and charging standard of the ordinary residential property shall be implemented according to the new regulations;

In terms of parking spaces, the pre-property service charging standards for existing and newly-built ordinary residential parking spaces (garages) shall be implemented according to the new regulations.

2, the existing ordinary residential property service charges more than 2.8 yuan/square meter, is it a violation of the policy?

A:No.

If the owners’ meeting has been established, the charges for ordinary residential property services shall be subject to market adjustment. Ordinary residential property service charges that have been jointly decided by the owners shall be implemented according to the standards jointly decided by the owners.

For the newly-built ordinary residential property service charges that have not been set up by the owners’ meeting or decided jointly by the owners, if the construction unit applies before the pre-sale and is approved by the competent price department with management authority, it may also exceed 2.8 yuan/m2/month. Whether the ordinary residential property service has been approved by the competent price department with management authority can be consulted by the development and reform department of the district.

In order to protect the right to know, the house buyer can ask the construction unit to provide information such as the pre-service level, project, content and charging standard in the newly-built residential sales place, and the construction unit should provide relevant information.

3. Does the competent price department have the right to price the property services in different levels? The Civil Code clarifies that the property fees are jointly decided by the owners. Does the new regulation violate the Civil Code?

A:The competent price department may implement the government-guided price for the pre-residential property service charges of ordinary houses.

According to the relevant provisions of the Price Law and Guangdong Pricing Catalogue (2022 Edition), with the authorization of the provincial government, Guangzhou has implemented the government-guided price for the pre-residential property service charges in accordance with the law, and Guangzhou has determined the pre-residential property service charges in this city according to the principle of adapting the charges to the service level.

In addition, it is necessary to distinguish between early property services and property services.

Pre-realty service refers to the realty service provided by the construction unit before the owners and the owners’ congress hire realty service enterprises, which is a special form of realty service. Pre-property service charges have been confirmed by the construction unit and its selected property service providers before the house is sold, and the owners have not produced them at this time.

In order to protect the rights and interests of all owners, before the owners jointly decide on the property service charges, the early property service charges of ordinary houses shall be subject to the government-guided price. If the property service charges are jointly decided by the owners, the government-guided price will be invalid for the project.

4. If after the first owners’ meeting, but no resolution is made on the property service fee, the competent price department with price management authority makes a decision to maintain or reduce it, will it be invalid?

A:After the first owners’ meeting, no matter whether a resolution is made on the property service charge, the government-guided price or the approved maximum price will be invalid for the project, and the owners’ meeting will decide whether to continue to refer to it.

It should be noted that the convening of the owners’ meeting is not a necessary condition for the adjustment of property service charges. According to the Civil Code and Guangzhou Property Management Regulations, the property service charges can also be adjusted upon the joint decision of the owners.

5. If the original industry committee has expired, but a new industry committee has not yet been established, is the government-guided price implemented for the residential property service fee?

A:No.

According to "Guangdong Pricing Catalogue (2022 Edition)", the property service charges of ordinary houses and supporting self-owned parking spaces (garages) after the establishment of the owners’ meeting will be subject to market adjustment prices. After the establishment of the first industry committee, the property service charges of the ordinary residence and supporting self-owned parking spaces (garages) will be subject to market adjustment.

6. A residential area has a first phase, a second phase and a third phase. Are the property service charges in the early stage of residence the same? The project is constructed and accepted separately. Is the property service fee for parking spaces determined by the number of planned parking spaces alone or accumulated by the number of planned parking spaces within a property management area? Some of them are more than 1000, and some of them are not more than 1000. What if some of them are expensive and some of them are low?

A:In the same residential area developed by stages, the property service charges in the early stage of residence may be different. Prior to the joint decision of the owners, the preliminary property service charges shall be executed according to the preliminary property service contract signed by the construction unit and the property service provider according to law.

According to the new regulations, in principle, the number of parking spaces for residential construction shall be confirmed based on the number of parking spaces that have been approved by the planning department (planning opinions or planning acceptance certificates). Separate acceptance, according to the separate acceptance of the planning opinions or planning acceptance certificate of the number of parking spaces.

The new regulations clarify the maximum price of property service charges in the early stage of self-owned parking spaces, and property service providers can determine specific standards according to laws and regulations within the scope of the maximum price according to the actual situation such as whether to operate continuously or not. Owners can also determine the fees with the property service providers through mutual decision.

7. Does the property grade in the new regulations have to meet all conditions before the corresponding service grade can be evaluated? If there is a problem with the quality of property services, who will be responsible for, supervise and identify it?

A:There is no need to evaluate the pre-service level of ordinary residential property in the new regulations.

In the new regulation, the pre-property service level is that the construction unit makes a menu choice of pre-property service according to the characteristics and needs of the project before hiring property service providers. The specific services agreed upon by the construction unit and the pre-selected realty service provider through public bidding shall not be less than (lower than) the service content of the selected level.

According to Article 8 of Guangzhou Property Management Regulations, under the guidance and supervision of the housing administrative department, the property service industry association shall supervise the service quality and behavior of property service providers and their employees.

8. The number of parking spaces for residential buildings is based on the planning opinions or the planning acceptance certificate and the Construction Project Planning Permit. How to obtain these documents?

A:According to "Guangzhou Property Management Regulations" and other regulations, property services companies undertaking inspection should verify the planning conditions and obtain the certificate of completion and acceptance of construction projects. According to the requirements of undertaking inspection, the planning verification opinions of construction projects, etc., shall be confirmed by the property service provider on site and filed.

Owners or users of parking spaces can inquire about the planning opinions or planning acceptance certificates from the property service providers, and the property service providers should take the initiative to disclose the number of parking spaces for ordinary residential buildings.

9. In the same building, there are residential buildings, commercial apartments and shops sharing an underground parking lot. How to define whether it is a self-owned parking space for ordinary residential buildings?

A:According to Article 6 of the Notice of Guangzhou Housing and Urban-Rural Development Bureau on Printing and Distributing the Management Measures of Parking Spaces and Garages for Real Estate Development Projects in Guangzhou (Sui Jian Gui Zi [2019] No.5), if there are houses with different functions such as residence, commerce and office in the building division, the construction unit shall clearly indicate the number and specific location of parking spaces with various functions in the rental and sales plan.

According to Article 20 of the Guangzhou Parking Regulations, if the construction unit rents and sells parking spaces for commercial and residential integrated construction projects, it shall clearly indicate the number and specific location of residential parking spaces in the rental and sales plan.

10. Are all property service companies required to provide owners with six free access cards?

A:No.

From January 1, 2024, the newly-built ordinary residence shall be equipped with 6 access cards for the buyer free of charge according to the intelligent access control system agreed in the planning or sales contract. Ordinary houses that have been delivered for use before, the number of free equipment shall be implemented according to the original regulations.

Wen Zhen reporter Hang Ying correspondent Sui Faxuan

　　BEIJING, May 14 (Xinhua) Wang Yeqiang, an associate researcher at the China Academy of Social Sciences, said today that overall, 2018 will be the low point of this round of real estate market, and the overall real estate market will show a downward trend. Affected by the decline in sales, it is expected that the real estate market price will maintain a steady decline in 2018. First-tier hotspots and second-tier cities may take the lead in bottoming out, while third-and fourth-tier cities still maintain a certain degree of heat. It is expected that there may be a big correction in the third-and fourth-tier cities in the second half of 2018.

　　Data Map: Real estate development projects.

　　China Academy of Social Sciences held the 2018 China Real Estate Summit Forum and the "Blue Book of Real Estate" conference on the morning of May 14th. Associate researcher Wang Yeqiang, executive editor of the book, introduced the relevant situation.

　　Wang Yeqiang looks forward to the rental and sale of real estate market in 2018. He said that from different markets, the change of land price in 2018 will be based on a moderate increase, and the price mechanism of the real estate market will be accelerated, while the task of first-line risk prevention and control is still arduous, and changes in third-and fourth-tier cities must be paid attention to. At the same time, the third and fourth lines are mainly characterized by structural contradictions, which should be based on stability. At the same time, we should pay close attention to the market dynamics and strictly prevent and control the price signals that may appear in a few cities when investment demand disturbs the market.

　　The establishment of supply systems and modes suitable for emerging industries and new formats will help the smooth operation of the industrial land market, and the market demand and land price of industrial land will be affected by the development of emerging industries. Actively exploring the supply systems and modes of emerging industrial land will help the smooth operation of the industrial land market.

　　(II) From the perspective of the personal housing credit market, it is predicted that the regulation policy of the real estate market will remain stable in 2018, and the urban policies with overheated momentum will be tightened. On the whole, the real estate market will enter an adjustment period after a sharp rise in the past few years, and the growth of personal housing loan business will also slow down. At the same time, the loan interest rate will continue to rise under the impetus of rising marketization costs. From the perspective of regulatory policies, it should be the trend of maintaining overall stability.

　　In the short term, in order to achieve the expected effect of stabilizing the market, the relevant short-term restrictive policies will not be relaxed and withdrawn. In the long term, it is necessary to further improve policies such as land supply, simultaneous rental and sales, and real estate regulation and control, and gradually replace short-term regulatory policies such as restricting purchases and loans. From the perspective of the growth rate of personal loans, the growth rate will continue to slow down. Due to the continuous decline in the sales area at the demand level and the tightening of the superimposed loan restriction policy, the overall demand for personal housing loans will shrink. From the perspective of supply, the increment and structure of personal housing loans will be subject to unified supervision, and the demand for corporate credit will obviously pick up, which will further affect the supply of mortgage funds.

　　At the same time, there is still room for further increase in the interest rate of personal housing credit. Some foreign economies are tightening the provision policy, including the business of raising interest rates and shrinking the table in the United States, which also has a certain impact on our national monetary policy. At the same time, the credit demand of the enterprise sector will pick up, and the tight credit scale will be maintained, which may promote the personal housing loan to continue to rise.

　　(3) Investment and financing are mainly affected. One is the major changes in the real estate market. For example, land auctions introduce mechanisms such as self-sustaining, competitive matching and lottery auction. Second, restrictions on purchases, loans, sales and business in the real estate market have become the mainstream regulation methods in large and medium-sized cities. Third, there is a large supply of shared property rights and rental housing. Judging from the trend of real estate investment, the investment keeps moderate downward trend, and the investment structure may be further adjusted. It is expected that the real estate investment will enter the downward channel in 2018, and the decline may be accelerated in the future from the moderate downward trend, and the investment structure is facing major adjustment. In the financing business, it is the primary task to be stable and tight, and to prevent risks.

　　(4) From the perspective of the residential market, one is that the residential sales area has further decreased. As the amount of shantytown renovation in 2018 will be less than that in 2017, it means that the resettlement of shed reform has a great impact on housing sales, especially in third-and fourth-tier cities, and this positive pulling effect will gradually decline. Second, the growth rate of housing development investment has declined, and it is expected that the growth rate of development investment will also decline in 2018. Considering the continuous increase of newly started area and the rapid increase of land price in the past two years, it is estimated that the growth rate of development investment will remain at around 5% throughout the year. The housing price is stable and declining. From the perspective of the real estate boom cycle, a series of indicators in the real estate market show that the market has entered a stage of downturn, and the market has an internal driving force for downward adjustment. It is expected that the housing market will also show the characteristics of periodic downward adjustment in 2018, and the housing price is likely to be stable and declining.

　　(V) Overall judgment, our overall judgment on China real estate in 2018 shows that 2018 will be the low point of this round of real estate market, and the overall real estate market will show a downward trend. In the supply-side first-line and hot-spot second-tier cities, in order to alleviate the inventory crisis, the land supply is expected to increase further, but it is difficult to relax the price limit policy, the supply in hot cities will continue to be tight, the policy base for real estate regulation and control on the demand side will not change, and the tightening of bank credit will also significantly increase the cost of buying houses, so the transaction scale will also be limited to some extent, and the sales area of commercial housing will be adjusted back due to the dual effects of regulatory policies and monetary environment. Shrinking sales and blocked financing channels will put financial pressure on housing enterprises and affect their willingness to start work to a certain extent, and the growth rate of new construction will continue to run at a low level.

　　Wang Yeqiang said that because the property market regulation policy is not relaxed in 2018, unfavorable factors at all levels of demand policy still exist, and corporate financing is blocked, and residents’ deleveraging development loans are tightened, which will have a negative impact on the growth rate of development investment in 2018. It is expected that the development investment in 2018 will remain at a low level, and there may be a slight rebound in the first half of the year. In the second half of the year, we think it should continue to maintain a legitimate downward trend, and it is difficult to have a strong performance throughout the year. Due to the decline in sales, it is expected that the development investment in 2018 will continue to

　　From the perspective of different cities, because the real estate control policy is not relaxed, first-tier hotspots and second-tier cities may take the lead in bottoming out. The adjustment of third-and fourth-tier cities obviously lags behind that of first-tier cities. Due to the relatively loose current policies, the spillover of demand and the support of shed reform policies and monetization policies, third-and fourth-tier cities still maintain a certain degree of enthusiasm.

　　With the gradual withdrawal of the destocking stimulus policy and the tightening regulation, it is expected that there may be a big correction in the third-and fourth-tier cities in the second half of 2018.

　　Wang Yeqiang said that we should have the following four trends in the real estate market in 2018. First, the relationship between supply and demand may be fundamentally reversed in 2018. In addition to the direct demand for housing, at the same time, due to the central control policy of staying and not speculating, it will have a greater impact on market expectations. At the same time, the toughness of development investment will increase significantly, because the start of sales by real estate enterprises means a loss, so real estate enterprises may deliberately lengthen the development cycle. At the same time, the capital level will affect the willingness of developers to take land, and the residential price index will maintain a decline throughout the year.

Peninsula reporter Hao Chunmei

On the morning of November 15th, a promotion meeting for Shandong Port Group and China Railway Container Company to enter Shanxi to serve customers in the central and western regions was held in Taiyuan, Shanxi. Shandong Port signed five cooperation agreements with partners and customers, unveiled five dry ports in Shandong Port, and put forward six commitments to serve customers, so as to promote cooperation, build a dry port and highlight the promised "real materials", build a convenient, economical and efficient "end-to-end" one-stop logistics service avenue, further strengthen the upstream and downstream connection of port logistics chain, improve the quality of customers in the hinterland of port service, reduce the logistics cost of customers in the central and western regions, and strive to improve the comprehensive service capacity of ports.

The promotion meeting of Shandong Port Group and China Railway Container Company entering Shanxi to serve customers in the central and western regions was held in Taiyuan.

Shanxi is an important energy base in China and the first comprehensive reform pilot of energy revolution, which plays an important role in China’s national economy. Shandong and Shanxi are geographically close, popular and mutually complementary. The convenient and efficient railway and highway network extending in all directions has closely linked the two provinces, making Shandong ports the most economical and convenient seaports in Shanxi and even the vast central and western regions. In 2018, driven by railway arteries such as Wazi and Xinhe Yanri, ports in Shandong provided services to more than 150 important customers in the central and western regions, and completed more than 60 million tons of iron ore, coal and coke.

In order to thoroughly implement the spirit of the important instructions of the Supreme Leader General Secretary "pay more attention to managing the ocean" and "accelerate the construction of a world-class marine port", Shandong Port Group was established on August 6 this year, which opened a new page for Shandong ports to grasp their fingers and complement each other’s advantages and accelerate the construction of a world-class marine port. In order to better serve the economic development of the central and western regions and promote a higher level of opening to the outside world, Shandong ports have made efforts in both land and sea, started trains in the land direction, built land ports and expanded the supply of goods, set up three "inland ports" in Xi’ an and Urumqi, opened up new two-way logistics channels between Shandong and South Korea, and added six container sea-rail combined transport lines; Open sea routes, expand cabin capacity and expand transit, and newly open container ocean routes from Qingdao to the North Pole, Qingdao to Southeast Asia and Rizhao to the North Pole. Successfully held the 2019 "Belt and Road" land-sea linkage summit forum, set up a 100-billion-level development fund, set up a land-sea linkage development alliance, and released the East Asia maritime trade index. The new opening pattern of "two-way mutual assistance between east and west and linkage between land and sea" was accelerated. From January to October, the total cargo throughput of Shandong ports was 1.09 billion tons, an increase of 8.6% year-on-year; The container throughput was 24.47 million TEUs, up 9% year-on-year, showing a good trend of rising volume and efficiency and rising against the trend.

Shandong Port signed strategic cooperation agreements with five major enterprises to build a cooperative community with close ties, risk sharing and benefit sharing.

At the promotion meeting, Shandong Port Group signed cooperation agreements with China Railway Container Company, Shandong Port Qingdao Port Group and China Railway Container Jinan Branch, Shandong Port Rizhao Port Group and China Railway Container Taiyuan Branch, Shanxi Shide Energy Group, Shandong Port Yantai Port Group and Shanxi Aluminum Corporation, which further built a cooperative community with close ties, shared risks and benefits.

At the same time, five dry ports of Shandong Port Group, such as China Railway Group Jiexiu Dry Port, Anyang Xiangdao Dry Port, Xiaoyi Modern Logistics Park Dry Port, Shanxi Nengtou Caijiaya Dry Port and Puyang Dry Port, were unveiled. The layout of the five dry ports comprehensively considers the advantages of railway container transportation and resource location, and will further integrate upstream and downstream resources to create an integrated logistics service integrating warehousing, processing, transportation, trading and financial services.

Shandong Port and China Railway Container Company respectively introduced their business and launched six service commitments. Among them, there are not only the efficiency commitment that the entry and exit time of the 10,000-ton train of Wari Railway should not exceed 6 hours, but also the personalized service measures such as "changing large trains to small trains", "changing large trains to land transport" and "changing large trains to bulk trains", and building an active trade platform of "selling for mines and purchasing for factories", etc., which shows the confidence and sincerity of Shandong Port in serving customers in the central and western regions and working together for win-win development.

Mr. Li Fengli, Deputy Secretary, Director and General Manager of Shandong Port Group, delivered a speech.

Li Fengli, deputy secretary, director and general manager of the Party Committee of Shandong Port Group, said in his speech that in recent days, major national strategies such as the Shandong New and Old Kinetic Energy Conversion Comprehensive Experimental Zone, the Shandong Pilot Free Trade Zone and the China-SCO Cooperation Demonstration Zone have continuously empowered Shandong and Qingdao. The Shandong port at the crossroads of the Belt and Road Initiative has ushered in a golden opportunity for development, and its role and advantages in serving the country’s opening to the outside world have become more prominent. Shandong Port will join hands with railway departments, customs, shipping companies and logistics enterprises to "move" the seaport to the door of customers in Shanxi and even the vast central and western regions, speed up the construction of an "end-to-end" whole logistics service system, and strive to provide customers with the "four most" services with the highest efficiency, the best service, the safest operation and the most reasonable price.

More than 300 people from relevant leaders of Taiyuan Municipal Government, Customs and Railways, representatives of customers in the central and western regions, and representatives of port groups in Shandong Port attended the promotion meeting.

Zhang Jiyi, Party Secretary and Chairman of China Railway Container Transportation Co., Ltd., Wang Ligang, Standing Committee Member of Taiyuan Municipal Committee and Executive Deputy Mayor, Liu Feng, Deputy General Manager of China Railway Taiyuan Bureau Group Co., Ltd., Ding Yongmin, Deputy General Manager of China Railway Jinan Bureau Group Co., Ltd. attended the promotion meeting. Sun Zhengfu, a member of the leadership team of Shandong Port Group and deputy secretary, director and general manager of Bohai Bay Port Party Committee of Shandong Port, attended the event, which was presided over by Liu Guotian, deputy secretary and general manager of Rizhao Port Party Committee of Shandong Port. More than 300 people from relevant leaders of Taiyuan Municipal Government, Customs and Railways, representatives of customers in the central and western regions, and representatives of port groups in Shandong Port attended the promotion meeting.

    Xinhua News Agency, Zhengzhou, May 4 th: Youth is brilliant in the Millennium.

    Xinhua News Agency reporter Shi Linjing

   On May 3, the Qingming Shangheyuan Scenic Area performed a performance of playing iron flowers. Xinhua News Agency (photo by Yuan Hang)

    The molten iron at 1600℃ turns into starlight all over the sky, and like the spring breeze blows away thousands of silver flowers … During the May Day period, in Shangheyuan Scenic Area, Qingming, Kaifeng, Henan Province, Pang Fei, a blacksmith after "90", scooped up the molten iron from the furnace and lifted it. Zhang Bao, a partner on the side, raised his paddle high and struck hard, which was thrilling and wonderful in an instant, attracting tourists to cheer.

    As one of the representative projects of national intangible cultural heritage, "Tie Tie Hua" is a folk cultural performance skill discovered by ancient craftsmen in the process of casting utensils, which is mostly spread in the middle and lower reaches of the Yellow River, especially in Henan and Shanxi, and has a history of more than a thousand years.

    This Chinese romance, which has been passed down for thousands of years, is also called "the game of the brave". Liu Xiaosong, a 45-year-old representative inheritor of the "Bianliang Tiehua Liu" in Kaifeng, Henan Province, was deeply involved. "In my impression, every year during the Chinese New Year or Lantern Festival, almost every household will burn some molten iron as fireworks." Liu Xiaosong said. Watching the elders play while the iron is hot makes young Liu Xiaosong obsessed with it. "With the development of society, fireworks have also become popular, and the technical requirements for playing iron flowers are very high. This skill has been interrupted in the village for more than ten years."

    In 2008, Tie Tie Hua was included in the list of representative projects of national intangible cultural heritage. Liu Xiaosong began to pursue the unique skill of striking while the iron is hot, and learned from teachers, visited and discussed with peers … In the process, more and more young people joined in. Pang Fei and Zhang Bao are a group of "post-90 s" who joined earlier. The reason why they decided to learn to play iron flower is very similar: it is bitter, but it is cool. "From an early age, I watched the older generation play iron flowers. Every time I heard the exclamation of the onlookers after the first iron flower was scattered in the air, I wanted to pass it on." Pang Fei said.

   On May 3rd, "post-90s" Pang Fei and Zhang Bao performed iron flowers in Shangheyuan Scenic Spot in Qingming Festival. Xinhua News Agency (photo by Yuan Hang)

    Although there is love, the high temperature of 1600℃ is always the most sad level for the blacksmith.

    Playing iron flowers usually begins with drawing water. Water is very similar to molten iron. Apprentices are qualified from the first one meter, three meters, to five meters until they hit the water to more than ten meters.

    We should not only train hard, but also practice accuracy. "Put the iron in the pottery furnace and keep burning carbon until the iron melts into water. The temperature of the molten iron just scooped out is very high, so performers need to be extra cautious when grasping the strike. If the strike position is inaccurate or the strength is not enough, the iron flower can’t reach a certain angle and height, and it is easy to burn. " Pang Fei said that it is common to practice being burned at first, and you will learn it when you are full of scalds.

    As an art form with unique Chinese charm, there is an increasing demand for the performance of Tie Hua. "Now all kinds of cultural exhibitions, art festivals, folk activities, etc. can see the shadow of the iron flower. We perform more than 1,000 performances every year on average." Liu Xiaosong said that in the Qingming Shangheyuan scenic spot in Kaifeng, there are nearly 10,000 people watching a show.

   On May 3, the Qingming Shangheyuan Scenic Area performed a performance of playing iron flowers. Xinhua News Agency (photo by Yuan Hang)

    While inheriting the ancient skills, Liu Xiaosong also innovated the performance content and form of Tiehua, incorporating folk elements such as dragon dancing and scientific and technological elements such as sound and photoelectricity. "In terms of raw materials, we have developed a new type of raw materials with large flowers, high brightness and flame retardant properties, which will die when it hits the ground, with strong environmental protection and high safety." Liu Xiaosong said.

    Today, Liu Xiaosong’s team is growing, and many post-90s and post-00s have joined the ranks. "If there is anything I want to learn, I will not refuse. Looking at these children, I feel that the iron flower can be passed down from generation to generation." Liu Xiaosong said.

    On the morning of May 4th Youth Day, Liu Xiaosong and his disciples came to Shangheyuan Scenic Area in Qingming Festival to prepare for the evening performance. Working in pairs, breaking carbon, catching fire and melting iron … "After 00", Zhai Xinzhuo looked at the skilled operation of his brothers and envied them. This is his second week of learning to play iron flower. At present, the height of drawing water has reached 10 meters.

    Zhai Xinzhuo’s eyes shone brightly when his brothers skillfully scooped up the hot molten iron and kicked it into the air with a paddle.

　　Nowadays, many parents prefer products labeled "children’s food" when buying food for their children, thinking that they are more in line with their children’s physical development, and such products are often more expensive. In fact, for children over 3 years old, there is no special food safety standard in China, and many so-called "children’s foods" have the same ingredients as ordinary foods, and are not even suitable for children to eat.

　　Last week, the Social Investigation Center of China Youth Newspaper conducted a survey on 2003 parents of children interviewed, and it showed that 84.8% parents were more inclined to buy products with the words "children’s food" for their children. 45.0% of the parents surveyed are uneasy about the "children’s food" on the market. 74.6% parents want to establish a monitoring, detection and early warning mechanism for "children’s food".

　　Parents interviewed in first-tier cities are more inclined to buy "children’s food"

　　Li Ran (pseudonym) is from Guangdong, and her child is 5 years old this year. In Li Yanran’s view, some foods eaten by adults are not suitable for children, so she is very concerned about products marked with the words "children’s food". "60% of my children’s snacks are ‘ Children’s food ’ For example, noodles, cereal, milk, and even soy sauce are specially suitable for children. " Li Yanran noticed that the manufacturers of "children’s food" generally claim that they have specially added some nutrients that children need, and that "children’s food" is cute in shape and will increase children’s appetite.

　　Yan Jing (pseudonym) lives in Wuhan, Hubei Province, and has two children, the eldest is 22 years old and the second is 9 years old. With rich experience in parenting, she has her own views on "children’s food". "I don’t believe ‘ Children’s food ’ This label. At present ‘ Children’s food ’ There is no clear definition, and there is no specific and unified standard for composition. Many parents actually don’t know what children of every age should eat, and they see the sign ‘ Children’s food ’ The words will be bought, but it is not rational enough. "

　　According to the survey, 86.2% of the parents surveyed said that when buying food for their children, they would pay special attention to the products marked with the words "children’s food". 84.8% parents are more inclined to buy "children’s food" for their children. Interactive analysis shows that parents interviewed in first-tier cities pay more attention to and buy "children’s food", followed by parents interviewed in second-tier cities.

　　Hu Qin (a pseudonym) from Anhui has a 13-year-old daughter. Hu Qin told reporters that when her daughter was a child, she often paid attention to children’s food. "I can’t help but buy it when I see it. As a parent, I always want to give my child the best and most suitable. I always feel that since the package is marked ‘ Children’s food ’ The formula will be more reasonable, and it will also cost money to buy peace of mind. "

　　As children grow up, Hu Qin’s view on "children’s food" has changed. "The child ate a lot ‘ Children’s food ’ I feel that they are not safer and more nutritious except that they are several times more expensive and the packaging is a little cute, and some even don’t indicate the formula. This is not what our parents imagined ‘ Children’s food ’ . Since my child went to junior high school, I won’t buy anything marked ‘ Children’s food ’ The words "products".

　　Li Ran found that the products labeled "children’s food" were getting more and more expensive, and some of the colors were too bright and beautiful, which made her feel suspicious instead, "I don’t know what additives were added". She feels that some children’s foods are mislabeled with nutrients. "The product advertisements are very good, but the ingredients and contents mentioned in the advertisements are not in the nutrition table. On the contrary, they are similar to what adults usually eat, and children have no effect when they eat them."

　　45.0% of the parents surveyed are uneasy about the "children’s food" on the market.

　　"I think the current so-called ‘ Children’s food ’ There are still many security risks. Children, like to eat heavy flavors. Now there are many foods that cater to children’s tastes, such as junk food such as spicy strips, all of which are sugar, salt and monosodium glutamate, which are unhealthy, not to mention conforming to children’s growth laws. " Yan Wei said.

　　According to the survey, 45.0% of the parents interviewed are not at ease about the "children’s food" on the current market.

　　What are the problems with "children’s food" on the market now? According to the survey, in the opinion of the parents interviewed, adding too much food additives (61.0%) is the biggest problem, followed by exaggerating efficacy and false propaganda (58.9%), and then the price is abnormally high (50.5%).

　　Zhu Danpeng, a researcher at China Food Business Research Institute, told reporters that at present, "children’s food" lacks relevant standards. "The state did not give ‘ Children’s food ’ A standard, the production end basically takes the enterprise standard as the production standard of the product, and the consumer end only has the awareness of protecting children but has no professional discrimination knowledge, so it is difficult to distinguish it only by consumers. This also gives enterprises a lot of free space, resulting in ‘ Children’s food ’ It has become a means for many enterprises to achieve product differentiation and pursue high gross profit, forming a kind of chaos. "

　　74.6% parents want to establish a monitoring, detection and early warning mechanism for "children’s food"

　　At the two sessions this year, An Ting, member of Chinese People’s Political Consultative Conference and chairman of Beijing Xiken International Culture and Art (Group) Company, said that "children’s food" with high sugar content is the main cause of children’s obesity, and efforts must be made in the management of "children’s food" for the healthy growth of the next generation.

　　"As parents, we are really scared about food safety. I hope the state will pay attention to ‘ Children’s food ’ The problem, right ‘ Children’s food ’ Strict production control, improve product quality, popularize relevant knowledge. So parents don’t have to buy ‘ Children’s food ’ While worrying, I even went to a purchasing agency to buy foreign ’ Children’s food ’ Yes. " Li Ran said.

　　Yan Jing believes that the first step should be to clarify what is "children’s food" and have corresponding standards. Secondly, some junk food designed for children should be banned directly, and supervision and law enforcement should be strengthened.

　　"The national standard seriously lags behind the development speed of the whole market and cannot keep up with the innovation and upgrading of the industry." Zhu Danpeng believes that the lack of national standard for "children’s food" has given enterprises a loophole for boasting and wrangling. "The state should introduce it as soon as possible ‘ Children’s food ’ The standards can be formulated by referring to international standards and combining with the physique of children in China. Of course, this involves life science, which is a huge system and scientific project. For example, sodium, what is the most reasonable and standard, should be carefully studied. In addition, consumers should establish a sense of rational consumption, master more health and nutrition knowledge, and improve their ability to distinguish. "

　　To ensure the safety of "children’s food", 74.6% parents in the survey hope to establish a safety monitoring, detection and early warning mechanism for "children’s food", 61.8% parents in the survey suggest to carry out special rectification activities to force the removal of "children’s food" that is not conducive to children’s health, and 58.1% parents in the survey hope to stipulate the types and dosage of "children’s food" additives.

　　Among the parents surveyed, 24.8% live in first-tier cities, 50.3% in second-tier cities, 23.0% in third-and fourth-tier cities, 1.8% in towns or counties, and 0.1% in rural areas.

　　China Youth Daily Zhongqing Online Reporter Du Yuanchun Intern Gao Qingwen Source: China Youth Daily

1, neurosis: friends lack communication with their own hearts, life is very self and subjective, often living in the shadow of various fears, insecurity, and the pursuit of security, making the body and mind not relaxed enough. It is a functional disorder with sufficient self-knowledge.

2, hypochondriasis, neurasthenia, phobia (fear of cancer, fear of AIDS): excessive attention to oneself, sensitive quality, personality foundation, living environment, accidental events and cognitive bias.

3. Anxiety: Friends suppress their aggressiveness, shrink back and evade their responsibilities, and are unwilling to take responsibility because an active life will bring mistakes and responsibilities. They are afraid of death and can’t grasp the situation of their lives. When they accept their responsibilities, they also give up all their venting methods, and finally turn to attack themselves. It is caused by the comprehensive factors of personality and life. Everyone should live in real life and learn to be satisfied.

4. Social phobia: the result of the combination of self-distrust and high expectations and the deviation of understanding of the objective world. In some cases, there may be some direct incentives, excessive attention to self and pursuit of ideal interpersonal communication.

5, interpersonal sensitivity: sensitive to what you are afraid of and then resist. Allergy is an overreaction to what you think is unfavorable. Allergy is a strong manifestation of resistance and aggression. It is an aggressive psychology. We only attack what we are afraid of and may hurt ourselves. Resisting means not letting the other person in. Interpersonal relationship sensitive person wants is the simplest and purest. They have repressed emotions to be released and fear in their hearts. Sensitive person should learn to master the interpersonal relationship around him, accept the so-called "enemy", reconcile with it, and learn to love the "enemy". Patients may be accompanied by some paranoid personality disorder.

6. Schizophrenia: Everything about the external events experienced by patients is the projection of internal shadows. The mental behavior of patients is forced to show the neglected shadows in their lives, and their emotional expression is suppressed in the most extreme way, so that they suddenly break out and cause mental disorders. There are many kinds of causes of schizophrenia, including genetic factors and life experiences. There is no unified view in the medical field. There are four common types of schizophrenia: youth type, paranoid type, nervous type and simple type. The main feature is the loss of insight, and the main treatment is long-term drug treatment.

7. Depression: an obvious and persistent mood disorder. There are many explanations for the causes, such as various events in life, genetic characteristics, physiological changes in the brain, mental trauma in childhood, long-term accumulation of negative emotions, etc. The United States has made great breakthroughs in the study of depression. At present, the treatment method mainly relies on the combination of drug therapy and psychotherapy. The international advanced drug treatment method is comprehensive treatment of several types of drugs through several courses, 2/3.

8, physical symptoms fatigue: we talk about the unity of body and mind, physical symptoms are often a reflection of psychological crux, many physical symptoms of non-organic diseases are caused by psychological reasons. Physical symptoms are often caused by feeling extremely depressed and hopeless about life, losing the goal and direction of life, and feeling insecure.

9. Physical symptoms: Shoulders are tight and stiff: some things are not what they want, there are emotional conflicts in their hearts, or they are too stressed in life, or they feel guilty about some actions in the past. Dr. Alexander Lowen also made a related statement in "Body Dynamics and Personality Structure", in which drooping shoulders indicate inner depression, shrugging shoulders are related to fear, and bending shoulders are a reflection of heavy mental burden.

10, physical symptoms dyspepsia: most of them are non-organic but functional, so it is related to mood, unacceptable to reality, angry, persistent and stubborn about their own situation, unable to let go, depressed performance. We need to trust life, face life with a happy-go-lucky attitude, and let life be as free as possible.

11. Somatization symptom pain: friends’ mental and emotional imbalance leads to muscle pain because they are unable to vent their anger mentally, and physical tension caused by psychological reasons. Headache is caused by deep-seated pain, because they are unwilling to express or have no way to express it, and then they are unwilling to accept bad emotions, shrink back and escape from the real world. There is also a type of pain caused by seeking a rational, reasonable and understandable life and chasing uncertain endings, often.

12. Types of migraine: the theme of the body is transformed into the head, and the theme is tried to be realized at this level, one of which is that sex is not satisfied.

13. Anorexia: the result of patients’ lack of acceptance by others, trying to make the sense of emptiness disappear in this way, which is a manifestation of spiritual self-satisfaction. One type is anorexia nervosa: excessive asceticism, rejecting all material and physical needs, aiming at chastity and spirituality, and having great desire for life. However, if we want to eradicate our own greed and abstinence by anorexia, we can’t find a happy balance. We need to be honest with ourselves and accept our greed. Habitual anorexia is dieting for various reasons. After a long time, it forms a habitual conditioned reflex and loses interest in food.

14. Bulimia: It is mostly a manifestation of not being cared for by people around you or feeling left out, satisfying yourself with food, filling the inner emptiness or loneliness after success, or another form of satisfaction for hunger and thirst for love, which will reappear in the body as longing for sweets and food. The difference between compulsive diet and compulsive diet: compulsive diet can’t deal with love from the consciousness level, but can only practice love through the body and look for love, affirmation and encouragement at the wrong level.

15. Vomiting, hunger: The patient subjectively wants to vent and prove that his thoughts are wrong, denying himself and the joy of life, which is a manifestation of lack of care in life, expressing resistance and rejection.

16. Stuttering: People around you are too authoritative and picky when you are growing up. You have subjective concerns about expression and are vague. You can’t express your needs completely freely, so as to avoid the subconscious mind emerging into consciousness, causing throat fear and contraction, and being restrained in childhood. You dare not vent your inner pressure and avoid speaking your inner words directly. In the later stage, it is a problem of psychological conditioned reflex.

17. Dyskinesia, writing spasm: If you want to show self-confidence, you are really insecure inside. Looking at things in a "skewed" and "distorted" way is a wrong way of self-expression.

18. Sexual barriers: All kinds of fears about self, partners and sex are the most fundamental reasons. Women’s apathy means that women are not ready to give themselves, they want to be "masters", unwilling to obey and be at a disadvantage, or they may have been holding inappropriate ideas about sex, or they lack love and acceptance between partners. Male impotence, excluding physiological factors, psychological inferiority, lack of confidence in their masculinity and aggression, excessive pressure, fear of women, or feeling guilty, confused, afraid of loss, patients may also be some personal reasons such as life experience or cognitive deviation.

19. Insomnia: Most insomnia is psychogenic and emotional. Insomniacs can’t let go of their subconscious, lack of trust, long-term emotional tension in life, fear, distrust of life, and excessive pressure in life, anxiety, neurasthenia and hypochondria.

20, lethargy: inner resistance to real life, not getting up in the morning is afraid to face reality, is dodging the challenges and responsibilities of life, unwilling to take the initiative to do things, to avoid waking up.

21. Addiction: Escape from things in life, eager to get something, but stop looking for it too early, and stay at the level of some substitute at present. When the substitute goal is lost, it will never get tired, and refuses to admit that the current goal is wrong. The real goal needs to continue looking for, and it is to fill the emptiness and confusion with foreign objects.

22. Alcoholism: escape from real conflicts and problems in life, get the illusion that everything is beautiful with alcohol, and create the illusion that people are close to each other. There is no real depth and intimacy. The treatment needs to take medicine, so that patients can feel the smell of alcohol and get rid of it.

　　The Opinions of the Central Committee of the Communist Party of China and the State Council on Accelerating the Construction of a Unified National Market was released on the 10th, which defined the key tasks from six aspects: strengthening the unification of market basic system rules, promoting high-standard connectivity of market facilities, creating a unified factor and resource market, promoting high-level unification of goods and services markets, promoting fair and unified market supervision, and further regulating improper market competition and market intervention, aiming at continuously promoting the efficient and smooth domestic market and expanding its scale. Accelerate the creation of a stable, fair, transparent and predictable business environment, further reduce market transaction costs, promote scientific and technological innovation and industrial upgrading, and cultivate new advantages in participating in international competition and cooperation.

　　Building a unified national market is the basic support and internal requirement for building a new development pattern. The relevant person in charge of the National Development and Reform Commission said in an interview with the media that in recent years, important progress has been made in the construction of a unified national market, but we should also see that there are still some problems that hinder the construction of a unified national market in practice, such as prominent market segmentation and local protection, imperfect market construction of factors and resources, imperfect market quality system of goods and services, inconsistent market supervision rules, standards and procedures, and insufficient role of super-large markets in technological innovation and industrial upgrading. Implementing the strategic plan of building a new development pattern will inevitably require speeding up the construction of a unified national market and smoothing the national cycle.

　　"The Party Central Committee and the State Council issued implementation opinions, which clarified the overall requirements, main objectives and key tasks of accelerating the construction of a unified national market from a global and strategic perspective, and provided a program of action for the construction of a unified national market in the coming period, which will certainly have an important impact on deepening reform and opening up under the new situation, making better use of and consolidating the great advantages of China’s market resources, and comprehensively promoting the transformation of China’s market from large to strong." The person in charge said.

　　The opinion emphasizes that it is necessary to speed up the establishment of unified national market system rules, break local protection and market segmentation, open up key blocking points that restrict the economic cycle, promote the smooth flow of commodity elements and resources in a wider scope, and accelerate the construction of a national unified big market that is efficient, standardized, fair and open.

　　Specifically, the opinions adhere to the problem-oriented and simultaneous innovation, and clarify the key tasks of building a unified national market from six aspects.

　　From the standpoint of legislation, it is clear that we should do a good job in the "five unifications." First, strengthen the unification of market basic system rules, promote the improvement of a unified property rights protection system, implement a unified market access system, maintain a unified fair competition system, and improve a unified social credit system. The second is to promote high-standard connectivity of market facilities, focusing on upgrading the circulation network, smoothing information exchange and enriching platform functions, and strive to improve market operation efficiency. The third is to create a unified factor and resource market, and promote the establishment and improvement of a unified land and labor market, capital market, technology and data market, energy market and ecological environment market. Fourth, promote the high-level unification of commodity and service markets, focus on areas of concern to the people and market participants, and strive to improve the quality and standard system. The fifth is to promote the fairness and unity of market supervision, to enhance the stability and predictability of supervision as a guarantee, and strive to improve the efficiency of supervision.

　　From a broken point of view, it is clear that improper market competition and market intervention should be further regulated. The opinions are clearly deployed from five aspects: strengthening anti-monopoly, investigating and dealing with unfair competition according to law, breaking down local protection and regional barriers, cleaning up and abolishing the provisions and practices that hinder equal access and exit according to law, and continuously cleaning up the provisions and practices that violate the construction of a unified market in the field of bidding and procurement, aiming at breaking all kinds of explicit and implicit barriers that restrict the construction of a unified national market.

　　In order to promote the implementation of opinions and see actual results, the above-mentioned person in charge said that the National Development and Reform Commission and the General Administration of Market Supervision will establish and improve the departmental coordination mechanism to promote the construction of a unified national market, increase overall coordination, and timely supervise and inspect; Improve the incentive and restraint mechanism; Explore and study the national unified big market construction standard guide; Give incentives to areas that actively promote the implementation of the national unified market construction and achieve outstanding results; Dynamically publish a list of improper intervention in the construction of a unified national market, and strive to solve the problems of improper market intervention and unfair competition that hinder the construction of a unified national market.

Original Tian yi chi huo institute

It’s Zigong

Yanbang cuisine, by its name, feels like a heavy-flavored cuisine. The fact is true, salt-helped dishes are born of salt, and the characteristics of the cuisine are fragrant, spicy, fresh and heavy.

Yanbang cuisine, also called "Xiaohe cuisine" in the pedigree classification of Sichuan cuisine, takes Zigong in southern Sichuan as the center and also includes Yibin cuisine, Luzhou cuisine and Neijiang cuisine around it.

Zigong fried eel

01

Zigong in Sichuan

/Food nourished by salt resources/

Zigong is a prefecture-level city in Sichuan, and one of its subordinate districts is called ziliujing district. According to the older generation of salt workers, "gravity flow" is not an adjective, but a reality. Brine water is on the surface of the ground, gently cut a hole, and brine "gurgles" like a mountain spring.

Zigong people laughed at themselves: "This palm-sized place", at most, there were more than 10,000 salt wells, which showed that the well salt resources here were rich and the salt merchants’ trade was prosperous.

The salt needs to be boiled after it is beaten.

Under the prosperous trade, the taste of relying on salt to survive has grown: salt workers have to work hard, heavy oil and salt can ensure physical strength and fast meals, and they eat "salt workers’ dishes" with heavy taste.

Salt merchants are rich, paying attention to face and ostentation. They make the dishes carefully crafted by the chefs in your house known as "salt merchants’ dishes". Salt merchants’ dishes abandon some heavy tastes and have a light taste.

The heavy profit of salt drove businessmen from all over the world to gather in Zigong, where they set up provincial guilds, thus giving birth to "guild dishes" that gathered local characteristics and absorbed the practices of various factions.

Hot pork intestines with heavy mouth

Light and tasty chicken tofu pudding

Maybe many people haven’t seen the salt well with their own eyes. It doesn’t have a wide wellhead and water surface visible to the naked eye as most people think. Most of the bittern is buried several hundred meters or even thousands of meters from the ground. People use all kinds of heavy tools to dig the well bit by bit, 5 years, 10 years, 20 years, 200 meters, 300 meters and 800 meters, until the bittern water is produced, and the wellhead is no bigger than a sea bowl.

To draw bittern is to put a long bamboo tube deep into the bottom of the well, pour bittern and lift it to the ground. Whether drilling wells or extracting brine, you need to rely on ladders, winches and cows up to tens of meters. The work on the well is around the clock, and so are the cows pulling the winch. It takes about 50 turns to draw a bucket of bittern. Because of the excessive labor intensity, many cows will die in less than one year.

Crane of Zigong Ancient Salt Well | Phreakster 1998/ wikipedia

Dead cows can’t be wasted. For salt workers who are also working hard, beef is an excellent energy source. Many traditional beef dishes in Yanbang cuisine were born.

Nowadays, boiled beef, which is common in major Sichuan cuisine restaurants, is one of the representatives of salt industry dishes. The spicy taste is thick, smooth and palatable, and the flavor is strong. The enthusiasm of boiled beef is very similar to that of Sichuan people.

Boiled beef | flickr Liu Milu

02

Authentic yanbangcai

/Not just spicy and spicy/

When I went to Zigong a while ago, I was lucky enough to invite a famous local chef to cook a table of authentic salt dishes for us. The impression that salt dishes are spicy and heavy was greatly subverted, and we can also get a glimpse of the reason why Sichuan cuisine can go out of Sichuan and conquer the world.

■ Boiled beef

Let’s start with boiled beef. Is this dish particularly common? But this time I ate something unusual.

At present, the common practice of boiling beef in water is to fry lettuce tips, bean sprouts and other vegetables first, then put the pickled beef in a pan and lubricate it, and finally put it in the sauce and fry it together, and finally pour oil on the table.

However, in the traditional way of boiling beef, you should first stir-fry the ingredients, then stir-fry the vegetables. The sauce has the smell of vegetables, then use it to cook the beef, and finally put in the knife-edge pepper and serve it with oil.

Traditional boiled beef

Although it is only a small difference in steps, it actually tests the chef’s temperature. Stir-fry vegetables first, then beef. If you don’t master the heat well, it will burn. Therefore, for the convenience of the map and the stability of the product, vegetables and beef are usually cooked separately in general restaurants by default.

In the traditional way, vegetables, beef and sauces are combined, and you have me and I have you, and the hemp, spicy, fresh, fragrant and fragrant are compound and rich in layers-this should be the reason why boiled beef is the first Sichuan dish to catch fire.

■ Fireside beef

Another beef dish, which can be served as a cold dish or as a snack, is fireside beef.

Legend has it that this is also the invention of salt workers. In the old days, salt merchants paid beef as part of their wages to salt workers. The salt workers first soaked large pieces of beef in brine to taste, then cut them into extremely thin, almost light-transmissive slices, salted them, spread them flat on a shelf and dried them, and then smoked them by the fire with cow dung as fuel, from which came the "fireside beef". The dried beef slices are crisp but not cotton, and the entrance is crisp and tough.

Huobianzi beef

According to the chef, the process of this dish is not complicated, but it needs a lot of care and experience, because if the beef is cut thin and then spread flat on the bamboo sticks for air drying and smoking, if the experience or patience are insufficient, the meat slices will not be formed, and it will be impossible to become a dish. Therefore, this is all meticulous work, which is very wasteful.

Sichuan has always been one of the places where beef is eaten the most and can be eaten in a variety of ways. Hot yellow throat, hot hairy belly and other dishes made by cattle in the water are also the favorite of salt workers. While salt workers were boiling, frying and baking, chefs working for wealthy businessmen and nobles began to disassemble and cook cows in more detail.

■ Yipin Niutoufang

Yipin Niutoufang is considered as a typical official dish of Shanghe Gang in Sichuan cuisine, and it can also be found in the guild dishes of Yanbang.

Niutoufang is made by burning the skin at the top of the cow’s head to remove the rough epidermis and hairy roots. After a long time, the meat is thick and soft, the gum is elastic and tough, and the aroma is solid and rich. Niutoufang is by no means a stunning taste, but a thick and delicious food in a silent place. Now there are only a handful of chefs who can produce this dish.

Yipin niutoufang

This delicate idea has also been used in other dishes-liver cake soup, a famous and almost lost old dish.

■ Liver cake soup

Liver cake soup is one of the three clear soup dishes in Sichuan cuisine. It is made of liver, clear as water and mellow in taste. Luo Chengji, a scholar of Zigong literature and history, once mentioned "mushroom liver ointment soup" in his works. If it is not difficult for many professional chefs to cook clear soup like water, then making "liver cream" is not the secret that everyone can master.

Liver cake soup

This time, in the hands of Zigong famous chefs, we are also fortunate to taste it. For this dish, the chef began to cook soup from 9: 00 in the morning, with old chicken, ribs, chicken feet, lean meat and ham as the base materials, and kept it boiling for 7 hours with minimal fire.

And the other protagonist: liver, the traditional practice is to use pig liver, and modern chefs will choose a more delicate foie gras. The method of making liver cake was gently taken by the chef, and it was "steamed". In fact, there are secrets in seasoning and modulation. Of course, the cooking skill is still the key. If you don’t master the cooking well, the liver cake is too tender or too rough, and you can’t form a delicate and dense taste.

When the broth has been boiled for enough time, add chicken breast meat and pork meat to absorb blood foam impurities, and then filter for several times until the soup is clear as water and yellowish in color. Then put the shaped and flavored liver cake into the clear soup and steam it in the cage for several minutes before the liver cake soup is ready.

In this dish, the taste of soup is very light, and all the delicious ingredients have been melted into the soup. The elephant is invisible, as elusive as a shadow, and people can’t help but want to catch up and take another look. The entrance of liver cake is delicate and mellow, which is in contrast with the lightness of soup.

However, in the eyes of local people, the dish that can best get through the upper and lower classes in Zigong is the rabbit.

Tutu is so cute, it must be delicious.

There are too many ways for rabbits to eat in salt dishes, such as cold rabbit, double pepper rabbit, dried pepper rabbit, dry pot rabbit, soaked rabbit, scalded rabbit …

Dried pepper rabbit

There were two rabbits in the chef’s banquet: fresh pot rabbit and scalded skin rabbit.

■ Fresh pot rabbit

Fresh pot rabbit, strictly speaking, belongs to the new school of salt-help dishes, which evolved from the traditional double pepper rabbit. No Zigong chef is not perfect in cooking rabbits.

Double pepper rabbit

Fresh pot rabbit is seasoned with fresh pepper, and the soup is used as the base. It is hot and spicy, heavy oil and heavy salt, and it must be served with two bowls of white rice, which is really enjoyable. Diners joked: it’s really a salt-helped dish, so I’m too willing to put salt in it, so I have to use a big bowl of rice to match it. This combination means that I have to do something.

Xianguotu

■ Scalded rabbit

The scalded rabbit is a typical traditional salt merchant dish. "Hot" is actually boiled. The beauty of the word "hot" is that the rabbit meat is delicate. After a short period of boiling, the rabbit meat with a little oil is smoother. It is slightly salty and tender when eaten directly, and the taste is progressive step by step when dipped in water, which is enough to satisfy the guests from all walks of life.

Scalded rabbit

In addition, because of the Tuojiang River, Minjiang River and Fuxi River, in the eyes of the salt chef, fresh river and waterfowl can also have ever-changing tricks.

Salt helps a duck. Take an old duck, remove its bones, stuff it into pork belly, ham and dried bamboo shoots, steam it, and scoop it with a spoon when eating it. It is unusually soft and delicious. Eat loach cold, fry fresh loach first and then fry, let it cool before eating, crispy with glutinous rice, heat and seasoning are indispensable; The young ginger frog, which Zigong people think is small and flexible, is fresher than the bullfrog with thick meat. After the young ginger is fried with the frog, its position is not only an auxiliary material, but often robbed by everyone with the frog …

Young ginger frog

Only after eating this meal did I know that the folk saying that "a salt merchant has a dish and a salt worker has food for half a year" is not empty talk, but it does not mean how valuable ingredients salt merchants like.

Just like the "eggplant" that surprised granny Liu, eggplant and old hen are nothing but ordinary things, even if abalone has wings and belly, it is not rare. What is really rare is to find someone who is willing to spend time and effort to cook ordinary food to amazement. That is the gorgeous chapter seen in the ordinary.

Burning white

* Thanks to Zigong Museum (Ji Chengjing), Zigong Food and Beverage Association, China cooking master Wang Guangkai, China cooking master Zhang Liquan, and famous chef Tonge of Yanbang cuisine for their support to this article.

* This article does not indicate that the source images are from Duoduo and Lamian Noodles.

I can eat a bowl of white rice with this article!

Original title: "Sichuan pilgrimage site, two words-of course not Chengdu! 》

Read the original text

() The business review of the Board of Directors in 2021 is as follows:

　　I. Discussion and analysis of business conditions

　　2021 is a significant year. We welcome the 100th anniversary of the founding of the Party, and at the same time start the first year of the implementation of the 14th Five-Year Plan. All Hongfa cadres and employees always adhere to Hongfa culture and characteristic management philosophy, unite as one, work hard, achieve impressive business results, and achieve a bright start in the 14 th Five-Year Plan.

　　In 2021, the company rose to the 6th place in the comprehensive ranking of economic indicators of electronic component enterprises in China, and ranked 89th in the top 100 enterprises with electronic information competitiveness, both of which were the best in history. The company’s market share in the global relay field has increased by nearly 3 percentage points compared with 2020, further consolidating the position of relay products as the first in the world.

　　(1) The Tenth Five-Year Plan of Hongfa Co., Ltd. and Development Plan for the Next Twenty Years was officially released and implemented, which pointed out the direction for the company’s long-term development.

　　In June, 2021, the Tenth Five-Year Plan of Hongfa Co., Ltd. and the Development Assumption for the Next Twenty Years (hereinafter referred to as "Planning and Assumption") was officially released. The development blueprint drawn by this plan and vision and the development vision for the next 20 years not only cover the overall planning of the company and the planning of each functional module, but also subdivide the planning of each business department and each enterprise, as well as the parts planning and mold planning related to the medium-and long-term production preparation of the enterprise, which together constitute an all-round and three-dimensional development strategic system of the company.

　　The planning and assumption firmly grasp the characteristics of Hongfa, and it is clear that we will continue to thoroughly implement the three development ideas of "crossing the threshold, expanding categories and improving efficiency", strictly follow the 16-character management policy of "unified planning, strengthening concentration, combining vertical and horizontal, and implementing in blocks", always adhere to the core business philosophy of "winning by quality" and the dual core of "quality and efficiency", and firmly advance along the development path of Hongfa’s characteristics. By the end of the "14th Five-Year Plan", the company will become a world-class brand in the relay industry, ranking first in the world, becoming one of the important switch product manufacturers in China, and stepping into the ranks of professional connector manufacturers; By the middle of the Tenth Five-Year Plan, the business scale will reach 20 billion yuan, making it a leading global enterprise with distinctive features.

　　Planning and assumption is the first five-year plan for the company to enter a new development stage. It is a plan with a new starting point and a new chapter, which will become an important action guide for the company’s future operation and management.

　　(2) Achieve rapid growth in business indicators and get off to a good start in the 14th Five-Year Plan.

　　(3) Adhere to the "dual core of quality and efficiency" and consolidate and enhance comprehensive advantages.

　　In 2021, the company continued to firmly adhere to the operating characteristics of "double cores of quality and efficiency", and strived to build core advantages in the fierce market competition by improving product quality and per capita production efficiency. Relay products continued to expand into high-end fields, further consolidating and expanding the leading edge.

　　1. The physical quality of products has been steadily improved at a higher level.

　　In 2021, the company organized and completed 77 Six Sigma projects, 697 QCC projects and 15 weekly failure improvement projects around the improvement of key product quality, and the proportion of production lines assessed by the "crossing the threshold" standard steadily increased to 90.1%, of which the proportion of middle and senior production lines reached 69%. The pass rate of weekly inspection is 95.1%, and the key defects of relay products have been steadily reduced to 1.9PPM. The quality of contactors, small circuit breakers, high and low voltage cabinets and three cabinets at the client side has obviously improved, and the market competitiveness has been continuously improved.

　　2. The investment in automatic production line is the highest in history.

　　In 2021, the company’s investment in technological transformation exceeded 1 billion yuan for the first time, and a total of 38 automated production lines were put into use, which was the year in which the company invested the most in automated production lines over the years.

　　During the reporting period, the company firmly adhered to the concept of "five sets in one" in the development of automatic production lines, and exerted the collaborative innovation ability of internal industrial chains, and the quality and speed of production line development were significantly improved. The average period from start-up and development to quality acceptance and mass production of automatic production line of general relay is shortened to 3-5 months, and the investment period of some automatic production lines is only about 2 months; A total of 10 automatic lines have been put into use for automobile relays, and the per capita output value of some automatic lines is planned to reach 2.5 million yuan. The investment in technical transformation of high-voltage DC relay, signal relay, industrial control relay and sealed relay has also promoted the product quality and production efficiency, and achieved good benefits.

　　3. Relay products have further expanded the high-end market, and new categories represented by switches have developed steadily.

　　In 2021, the company’s relay products were eye-catching in the high-end market with excellent performance in quality and excellent cost performance: General Relay became the most important supplier and reliable strategic partner of many high-end brands including Miller, (), Electrolux and Bosi, and its global market share increased by 3 percentage points; In the field of rail transit, it successfully won the bid for several projects of CRRC Group, installed the first standardized subway in China as the core component, and landed on Zhengzhou-Xuzhou line in June 2021, filling the gap of domestic core component rail transit relay; In the new energy vehicle market, we have established cooperative relations with mainstream new energy vehicle factories in the world, including high-end vehicle factories such as Tesla, Mercedes-Benz and BMW, and the global market share of high-voltage DC products has reached 36%; Photovoltaic relays keep up with the development trend of the industry, and their products have been recognized by benchmark customers such as Huawei and (), and their market share in high-end customers exceeds 50%.

　　Low-voltage electrical appliances are gradually on the right track, with annual market sales and per capita payment increasing by more than 20%. The product development is based on the principle of "laying a solid foundation and accumulating strength", and the products are built from the source in a down-to-earth manner. The product lines such as power control, power distribution and small interruption have initially established a platform-based universal series, and the key technologies have achieved remarkable results, and important breakthroughs have been made in the fields of customer customization and special subdivision. In 2021

　　On the basis of the smooth operation of the first small automatic production line, we will continue to push forward several automatic production line projects according to the requirements of "high quality and high standard", and the core competitiveness of enterprises is gradually taking shape.

　　(4) Insist on innovation-driven, and change the technological development from following to leading, providing a strong impetus for the "Fourteenth Five-Year Plan".

　　1. Many products are leading the world in technology.

　　In the field of home appliances and smart home market, following the technical trend of frequency conversion and current carrying, we have developed large current carrying products and low-power and miniaturized products with high surge resistance, and their performance and technical indicators are leading internationally.

　　In the emerging application fields of photovoltaic, wind power and energy storage market, we directly cooperate with leading enterprises such as Huawei to develop products, and the technical indicators lead the international market.

　　High-voltage DC relay products combine the extreme safety technical requirements of benchmark customers, overcome the extreme safety technical capabilities such as high short circuit resistance, high limit breaking and low contact resistance, and continuously consolidate the leading edge.

　　It is the first to develop the fifth generation signal relay in the world. Under the condition of maintaining the performance index, the product volume is reduced by more than 50% and the power consumption is reduced by 60%, leading the update iteration of signal relay technology.

　　2. Intellectual property work has gradually shifted from "focusing on evasion" to "taking the lead in protection".

　　In 2021, the company actively conducted risk investigation and patent analysis on 341 products, and consciously conducted investigation and rights protection on competitors’ patents, all of which achieved good results. In 2001, 376 domestic patent applications were completed, including 118 inventions, up 9.26% year-on-year, and 25 international patent applications, up 38.89% year-on-year. The authorization rate of invention patents is as high as 96.97%, and the authorization rate of utility model patents remains 100%, which has established effective intellectual property protection for leading products and technologies.

　　3. Demonstrate the leading edge in the field of standardization, and the international influence of the industry has been significantly enhanced.

　　In the field of international standardization, the company has 5 experts from IEC International Standards Committee, participated in the compilation, revision and opinion handling of 3 international standards throughout the year, and organized 70 international standards to solicit opinions and reply. At home, the company serves as the chairman of China Relay Standardization Committee, leading the formulation, approval and release of two national standards GB/T21711.1 and GB/T16608.1, leading the formulation of two national standards GB/T21711.2 and GB/T21711.2.1 on relay reliability, progressing steadily according to procedures, and newly reporting two national standards GB/T 21711. The company’s work in the field of relay professional standardization further consolidated the company’s leading position in the relay industry and significantly enhanced its international influence in the relay industry.

　　(5) Build a strong production capacity of molds and parts, and lay a solid foundation for the supply chain of products during the 14th Five-Year Plan.

　　In 2021, the company took the mold and front-end capacity building as a major strategy, systematically planned and comprehensively promoted, and further enhanced the overall strength of the industrial chain supply chain.

　　1. Make a systematic and overall plan for the capacity building of molds and parts.

　　In 2021, the company organized the formulation of Mould Management System, Medium-and Long-term Development Plan of Mould, and Tenth Five-Year Plan (Draft) for the former parts, systematically planned the production, technical transformation and site of the former parts, strengthened management, accelerated construction, and provided institutional guarantee for creating "good parts". Establish a statistical management mechanism for the internal matching ratio of key parts, and the internal matching ratio of various major parts such as stamping parts, injection molded parts, contacts and iron cores continues to rise steadily.

　　2. Focus on improving the level of R&D, design, processing and manufacturing of molds.

　　In 2021, the company’s mold center continued to strengthen the development capability of high-precision long-life molds, with the life of dies exceeding 100 million molds and the life of plastic molds exceeding 10 million molds, reaching the first-class level in the industry; Improve efficiency and shorten delivery time. The proportion of T1 days within 60 days reached 80%, the annual mold output increased by more than 50%, and the TEEP of 36 GA key equipment increased by 22.43%. Continue to increase investment in technological transformation, introduce CNC machining center production line, spark machine, high-speed machining center, OPS graphite discharge unit and other equipment to further enhance R&D and manufacturing capabilities. The MES project of mold is put into operation, which forms a platform of information flow synchronous exchange management of mold design, manufacturing and design change, realizes integrated manufacturing and systematic management of mold data with MES system as the core, and lays a solid foundation for building a systematic, automatic and intelligent mold manufacturing factory.

　　3. Strive to build a first-class component manufacturing base.

　　The manufacturing of parts and components starts from the research of basic theory, and many breakthroughs have been made in technical research. The highest punching speed can reach 1200 times/minute, the shortest injection cycle is 4.5 seconds, and the injection mold for pushing cards can reach up to 128 cavities. The qualified rates of injection parts, metal workpieces, contacts and iron cores in comprehensive batches reach 99.65%, 99.45%, 99.55% and 99.08% respectively, all reaching the advanced level in the industry.

　　Inherit the advantages and experience of relays, benchmark the world first-class, highlight the goal of "high quality, high speed, strong adaptability and high cost performance", and implement them in blocks according to the characteristics of new products, so as to build the independent supporting capacity of key components of new products. Actively introduce core production technology and equipment, and successively overcome key core technologies such as precision forming of high-voltage DC close-wound bobbin, which will help the development of new products.

　　(VI) Firmly implement the 16-character management policy of "unified planning, strengthened centralization, vertical and horizontal integration and block implementation", improve the management level of the company and ensure the smooth implementation of the "Tenth Five-Year Plan".

　　1. Strengthen performance appraisal under the guidance of planning to ensure the smooth implementation of the company’s strategic objectives.

　　In 2021, performance management will continue to focus on the guiding ideology of "taking strategy as a guide and constantly solving the bottleneck problem in development", focusing on the operating characteristics of "quality and efficiency" in terms of project and weight setting, and guiding enterprises to continuously build core competitiveness; In terms of goal setting, based on the "Tenth Five-Year Plan" and combined with the macroeconomic situation and competition pattern faced in 2021, the appropriate development goals are determined, and the completion situation is followed up in time through the combination of monthly statistics and quarterly analysis. At the end of the year, the business results of the enterprise are measured based on performance evaluation and the subsequent improvement direction is identified to ensure the smooth implementation of the company’s planning and strategy.

　　2. Informatization construction has been promoted to the deep water area, and the pace of digital transformation has been accelerated.

　　In 2021, the company stepped up its informatization construction to the deep water area. In addition to continuing to complete ERP, financial sharing and other projects as planned, it continued to implement three phases of projects in the sales field, and completed the comprehensive coverage of CRM marketing management system in domestic and foreign sales organizations. In the field of supply chain and production-marketing collaboration, taking Zhangzhou Hongfa and Xiamen Jinyue as the pilot, APS advanced planning and scheduling software was introduced to initially realize the supply-demand linkage between parts and finished products enterprises; Start S&OP pilot in automotive electronics to create conditions for establishing a visual and integrated supply chain management and decision-making system; In warehousing management, WMS platform at group level is introduced to lay the foundation for subsequent warehousing automation and information integration. The business index statistics of all production enterprises in the company are systematic and automatic, and digital information is increasingly becoming the core strategic resource of the company and plays an important role in business decision-making.

　　3. Further strengthen the unified management of marketing work.

　　In 2021, the company intensified the unified market planning, integrated industry solutions with the energy industry as a pilot, explored the unified promotion mode of the industry, organized centralized research on key customers in the wind energy and photovoltaic industries, and completed the marketing planning and promotion of nine products (series) such as electronic modules and intelligent circuit breakers; Establish a new category promotion department to help the market development of new categories of products; Establish a global account manager system, formulate a global account strategy, and improve the global account management improvement ideas; Continuously improve the information sharing and cooperation mechanism between sales systems, effectively coordinate the conflicts of customer resources between channels, realize the unified platform for orders, unified data drainage, unified channels for external publicity, unified management of customs affairs and sales expenses, and ensure the smooth operation of various businesses.

　　(VII) Promoting the construction of the three major bases as a whole, and creating conditions for the capacity expansion in the 14th Five-Year Plan.

　　At the Xiamen-Zhangzhou base, the second phase of Zhangzhou Hongfa project was completed in May 2021 and successfully relocated and put into production, and the third phase of the project with a construction area of 150,000 square meters was officially launched; The second phase of Haicang Industrial Park, with a construction area of 62,000 square meters, completed preparatory work such as project establishment and scheme design; The electroplating expansion project with a building area of 19,000 square meters in Sunban Factory was successfully completed and will be put into production in early 2022.

　　In the eastern base, the electroplating workshop was put into use in early 2021, and the electroplating internal service of the eastern base began to be realized; Hongzhou New Energy moved into a new factory building and put into production in October 2021. At the same time, various supporting service facilities in the park were gradually improved, and the whole base was initially formed, which created conditions for subsequent capacity expansion.

　　In the western base, in March 2021, the signing ceremony of the investment agreement for the construction of the "14 th Five-Year Plan" project of Hongfa Western Intelligent Manufacturing Industrial Park was successfully held, and the output value of the project will exceed 2.4 billion yuan after completion. In September 2021, the third phase of Sichuan Hongfa Project was officially started. The project has a construction area of 44,000 square meters, and two modern production plants will be built. It is expected that the renovation will be partially completed and put into production in 2023.

　　The rapid progress of the construction of the three bases will provide sufficient plant resources for the company to achieve the "14 th Five-Year Plan" and "create another 10 billion".

　　(8) 2 billion convertible bonds were successfully issued, which helped accelerate the development of the 14 th Five-Year Plan.

　　In September 2021, the company’s project of issuing convertible bonds was unconditionally approved, and it was successfully issued and listed in November, successfully raising 2 billion yuan, which provided a strong financial guarantee for the company’s continuous large-scale and high-quality investment during the 14 th Five-Year Plan period.

　　(9) Major shortcomings and challenges in 2021.

　　In 2021, while achieving good business results, we must also be soberly aware of the shortcomings and challenges we face: the development of new categories of products is still relatively slow; The influence of Hongfa brand does not match the overall strength of the company; There are still obvious shortcomings in the overall development of the company, especially in the eastern base enterprises. Affected by various aspects of the epidemic, the pace of globalization has been hindered; The internal synergy of the company has not been fully exerted, and the organizational structure needs to be further optimized; Cadres’ ideological concept, ability and quality need to be improved continuously, and the construction of talent team has a long way to go. These problems need to be solved in the future work.

　　In 2022, all Hongfa employees will continue to adhere to the company’s "14th Five-Year Plan" under the guidance of the three development ideas and the 16-character management policy, vigorously inherit and carry forward Hongfa’s corporate culture, strengthen their beliefs, be determined to innovate, and strive to do all the specific work to promote the company’s sustained and good development!

　　

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

　　The company’s main product relay is an electronic control device, which has a control system (also called input loop) and a controlled system (also called output loop). It is usually used in automatic control circuits, and it is actually an "automatic switch" that uses a smaller current to control a larger current. Therefore, it plays the role of automatic adjustment, safety protection and conversion circuit in the circuit. When the input quantity (such as voltage and current) reaches the specified value, the controlled output circuit is turned on or off. It has the advantages of fast action, stable work, long service life and small size. Widely used in power protection, automation, sports, remote control, measurement and communication devices.

　　According to the 2021 edition of China Electromagnetic Relay Market Competition Research Report issued by Zhiduoxing Consultant, the global economic situation will improve in 2021, and the relay market will rebound to a certain extent, reaching 58.95 billion yuan in 2025, with an average growth rate of about 8.5% in the five years from 2020 to 2025. According to the data of Zhiduoxing Consultant, the global demand for electromagnetic relays will be about 10.35 billion in 2021, and 11.94 billion in 2025, with an average growth rate of about 5.2% in the five years from 2020 to 2025.

　　With the strong growth of smart home, industrial automation, photovoltaic field, global smart meters, smart cars and the rapid development of new energy vehicles, with the arrival of the 5G era, the relay market will usher in a new round of development. The global manufacturers of electromagnetic relays are mainly concentrated in China, Japan, Europe and America, among which Hongfa shares rank first in the world in market share, while OMRON and Tyco electricity rank second and third respectively.

　　

　　Iii. Business of the Company during the reporting period

　　(a) the main business, main products and their uses, business model.

　　Xiamen Hongfa () Co., Ltd., a holding subsidiary of the company, is mainly engaged in the production, R&D and sales of relays and electrical products. The main products include relays and electrical products, among which electrical products include low-voltage appliances, high-voltage and low-voltage complete sets of equipment and other categories. Relays are the company’s main products, mainly including power relays, automobile relays, signal relays, industrial relays, power relays, new energy relays and other categories, with more than 160 series and more than 40,000 common specifications, with an annual production capacity of over 30.

　　The company’s products have been certified by UL&CUL in the United States, VDE and TV in Germany, CQC in China, etc., and are widely used in household appliances, smart homes, smart grids, new energy, building power distribution, automobile industry, rail transit, industrial control, security, fire protection and other fields.

　　After years of development, the company has more than 30 manufacturing enterprises, established three R&D and production bases in Xiamen, Zhangzhou, East and West, and seven core business divisions, with a workshop area of over 1 million square meters, and has formed a relatively complete industrial chain of relays and electrical products, covering the design and manufacture of production equipment, parts production, finished product production and product sales. The internal industrial chain is as shown in the figure:

　　1. Purchasing mode

　　The main materials consumed by the company include copper, iron, silver wire, enameled wire and engineering plastics. After years of development, the company has established a set of strict procurement management system and supplier management norms, and clearly stipulated and strictly implemented the responsibilities and authority of procurement management, procurement process, supplier selection, procurement price approval, procurement payment and inventory storage management. The specific procurement process is as follows:

　　2. Production mode

　　The relay assembly of the company is in a clean workshop with a class of 100,000 or above, and it is equipped with a negative pressure system to effectively control foreign bodies. The assembly adopts automatic production mode, and has the ability to independently develop first-class relay automatic assembly technology and equipment, including automatic winding, automatic riveting of contact with materials, automatic insertion, automatic welding, etc. In product quality control, online detection technologies such as image system and vacuum leak detection are used, and functions such as online real-time adjustment and defective product sorting are configured, which greatly improves the consistency and stability of product assembly and ensures the physical quality and production efficiency of products.

　　3. Sales model

　　(1) Sales management mode

　　According to the differences of different industries, different regions and target customer groups, the company adopts the sales management mode of combining direct selling and distribution.

　　The marketing channels of the company are divided into international and domestic markets, as follows:

　　① International market

　　International market refers to importers and exporters in China’s overseas market and domestic market, and customers with foreign currency as the settlement unit. The marketing center of the headquarters is responsible for the overall market planning, organization and coordination. The international market can be divided into:

　　(2) Pricing method

　　The overall pricing strategy of the company’s products is to refer to market conditions and cost additive process. When determining the product pricing, the company refers to the market price and adds a certain percentage of profits on the basis of raw materials, processing costs and labor costs to determine the final quotation of the product. The cost of the company’s products will change due to changes in material prices, exchange rates and labor costs, and the company will recalculate the latest reserve price regularly.

　　(2) Market position and competitive advantage of products

　　The development of relay industry is relatively mature, and the market competition is relatively full. The main producing countries include China, Japanese, German and other countries. The company has more than 30 years of experience in relay research and development and manufacturing, and is one of the major relay manufacturers in the world. According to the "2021 Edition China Electromagnetic Relay Market Competition Research Report" issued by Zhiduoxing Consultant, the company’s global electromagnetic relay market share ranks first in the world.

　　According to the 30th-34th Top 100 ranking of electronic component enterprises judged by China Electronic Component Industry Association, there are 7 relay manufacturers on the list, including Acer Power Generation, Guizhou Aerospace, (), Ningbo Tianbo, Huigang Holdings, Ningbo Ford and Shanghai Omron.

　　Among them, macro power generation is in the first place in the relay industry, a sub-industry of electronic components industry.

　　

　　Iv. analysis of core competitiveness during the reporting period

　　In the long-term development process, the company has gradually formed a unique core competitiveness:

　　1. Excellent corporate culture

　　After more than 30 years of development and precipitation, the company has formed a corporate culture system with Hongfa characteristics. The system includes seven core concepts (vision, mission, values, etc.) and six management ideas (quality and efficiency are the core, etc.). The company adheres to the enterprise spirit of "continuous progress and never satisfaction"; It has established the vision of "creating an international brand, building a century-old prosperity", the corporate mission of "representing the national relay industry to win a place in the world" and the core values of "jointly promoting the continuous development of enterprises, making contributions to society and shareholders, and striving to seek better and better interests for employees themselves". Always adhere to the business policy of "market-oriented, quality wins"; The quality policy of "pursuing perfect quality to provide customers with satisfactory products and services" and the code of conduct of "honesty, law-abiding, civilization and dedication".

　　2. High-level technical R&D team

　　The company has the first national-level enterprise technology center, academician workstation, postdoctoral workstation and the largest relay testing center in Asia in the domestic relay industry, focusing on improving quality and efficiency and customizing personalized solutions for customers. The company became the first enterprise in the relay industry to preside over the formulation of national standards. By the end of December 2021, the company had 1,528 valid patents. Relying on the strong technical resource advantages in the relay industry, the company’s technical status in the industry is improving day by day, and it has successively won the honors of "National Technology Innovation Demonstration Enterprise", "National Manufacturing Individual Champion Demonstration Enterprise", "Industrial Product Green Design Demonstration Enterprise" and "National Technology Innovation Engineering Innovative Enterprise".

　　3, advanced mold design, manufacturing and precision parts manufacturing capabilities.

　　Hongfa firmly believes that "good products are made of good parts, good parts depend on good molds, and good molds need good design and equipment". After decades of precipitation and accumulation, it has become a complete industrial chain that deeply integrates the design and manufacture of molds, precision parts and automated production lines. In terms of mold design, manufacturing and precision parts manufacturing capabilities, the company has a strong self-supporting ability of parts, equipped with the world’s top parts production equipment. The precision of Hongfa mold can reach 1μ, and the industry-leading mold design and manufacturing ability shortens the product development cycle and ensures the product quality.

　　4, advanced relay automation equipment design and manufacturing capabilities.

　　In terms of the design and manufacturing capacity of relay automation equipment, the company is one of the earliest enterprises in China that specializes in designing, developing and producing special automation equipment and automation production lines for relay industry. The developed relay assembly production line and the equipment level of the previous part have reached the world-class level. The rising degree of automation improves the company’s per capita production efficiency and ensures the consistency and stability of product quality.

　　5. Advanced and complete product laboratory

　　The company has the largest relay testing center with the most complete facilities in China relay industry, and has set up "three core product testing laboratories" and "four public service laboratories". Establish a laboratory quality assurance system according to the ISO/IEC17025 accreditation criteria, have the independent development ability of non-standard testing systems, meet the non-standard testing needs of different customers, participate in the formulation of international standards such as IEC61810-2/-2-1 and IEC61810-10, and lead the formulation of China standards such as GB/T21711.7 and GB/T16608.50-55. At the same time, it implements more than 10 international and domestic standards, such as EN61810 and UL508. In 2007, the company signed the preferred partner agreement with VDE, which was the first in the world in terms of components. The company has been recognized by VDE as the world’s first relay laboratory for electric meters, and has the laboratory qualification recognized by Shanghai General Motors (GP-10). The company’s chemical analysis laboratory has been recognized by CNAS laboratory for expansion, which can provide customers with accurate, reliable and credible ROHS compliance testing data and reports.

　　6. Always pursue to provide customers with satisfactory products and services with perfect quality.

　　The company always insists on "winning by quality" and pursues to provide customers with satisfactory products and services with perfect quality. It has built a unique total quality management model and integrated management system. Based on the "five-in-one" new product development quality management, robust process control, "quality first" supplier quality management, customer-oriented quality service and "pyramid" continuous improvement mechanism, the quality management cycle is realized and the whole production process of each product is strictly carried out.

　　7. Industry-leading human resources advantages

　　Under the guidance of the concept of "people-oriented, cultivating top-notch talents in the industry", the company has gathered a group of professionals with certain authority and experience in product research and development, production, management and marketing through self-cultivation as the mainstay, which has laid a solid talent foundation for the further development of the company’s business. The core technicians of the company’s product research and development department have many years of experience in the industry. The company adheres to the guidance of high-end talents and promotes the improvement of technological innovation ability. The company’s main management team has rich experience in relay industry operation and management, focusing on building a strong brand in the industry and continuously enhancing the company’s core competitiveness.

　　8. Brand advantage

　　After more than 30 years of development, the company has become the world’s largest relay manufacturer, trusted by customers. According to the list of "Top 100 Electronic Components Enterprises in China in 2021 (the 34th)" issued by China Electronic Components Industry Association, the company ranks sixth and first in the relay industry.

　　The company has a high market reputation and brand awareness, and has obvious competitive advantages in network layout, industrial integration, customer and supplier management.

　　

　　V. Main operations during the reporting period

　　During the reporting period of 2021, the company realized an operating income of 10,022,657,500 yuan, an increase of 28.18% over the same period of last year; The net profit attributable to shareholders of listed companies was 1,062,555,500 yuan, an increase of 27.69% over the same period of last year; The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 922,540,300 yuan, an increase of 32.98% over the same period of last year; Achieve basic earnings per share of 1.43 yuan.

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

　　(A) the industry pattern and trends

　　As one of the most important basic components, relay is a necessary and core electronic control basic component in the whole circuit control system, which is widely used in the fields of home appliances, industrial control, automobiles, communications, electricity, energy, security, aerospace and so on, and its main function is to realize "automatic and remote" control. Among these fields, household appliances, automobiles and industrial control, as traditional industries, have always been the fields with the largest amount of relays. Although the downward pressure on the global economy has increased under the influence of the epidemic during the reporting period, individual fields, such as electric power (especially smart grid), security monitoring, smart home and new energy (especially photovoltaic power generation and new energy vehicles), as emerging industries, are driven by industrial policies in China and the world, with strong development momentum. China is still the main production base of relays, accounting for about 50% of the global total output. There are many manufacturers, but there are few manufacturers with a certain scale, the industry concentration is not high, and the market competition is fierce.

　　The company’s comprehensive economic indicators have been in the leading position in domestic peer enterprises for many years. At the end of the reporting period, the company’s overall sales revenue was 10.023 billion yuan, up 28.18% year-on-year. The company produced more than 3 billion relays, low-voltage electrical appliances and other products throughout the year, and its main relay products have steadily increased their market share in the global market. In 2021, the company’s products were eye-catching in the high-end market: the market share of general relays in high-end smart home appliances was further consolidated and expanded, becoming the most important supplier and reliable strategic partner of many global high-end home appliance brands; As the core component, the sealed electromagnetic relay is installed in China’s first standardized subway train, Rio Tinto’s rail transit market, which fills the gap in domestic rail transit relays; High-voltage DC relay has grown rapidly, and has established business cooperation relations with mainstream new energy vehicle manufacturers around the world, becoming the world’s major manufacturer of high-voltage DC relay; Photovoltaic new energy products keep up with the rapid development of the industry, and the market share of high-end customers has increased by nearly 60%, and the overall market share has increased to 57%. The deep expansion of the high-end market has pushed the company to stride forward on the road of high-quality development.

　　During the reporting period, many projects of the company were carried out smoothly and won many important honors: the "14 th Five-Year Plan" project of Hongfa Western Intelligent Industrial Park was launched; The company’s national intelligence creation new model project passed the acceptance; In China, the comprehensive ranking of economic indicators of electronic component enterprises rose to the sixth place, the best ranking in history, and the ranking of the top 100 enterprises with electronic information competitiveness and the top 500 listed enterprises in China has also been continuously improved, and at the same time, it has once again won the "China Brand Value List".

　　In the future, under the guidance of the three development ideas and the 16-character management policy, we will always adhere to the principle of "winning by quality", vigorously inherit and carry forward Hongfa culture, strengthen our faith, be determined to innovate, keep forging ahead, never be satisfied, work hard, overcome the risk challenges on the way forward, enhance our development momentum, plant our development advantages, and constantly push Hongfa career to a new height.

　　(II) Company development strategy

　　The company’s development strategy is to inherit and carry forward Hongfa’s characteristic culture and business philosophy, adhere to the business policy of "market-oriented, winning by quality", thoroughly implement the three development ideas of "crossing the threshold, expanding categories and improving efficiency", strictly follow the 16-character management policy of "unified planning, strengthening concentration, integrating vertically and horizontally, and implementing in blocks", and firmly grasp the core business philosophy of "winning by quality" and "quality and quality" Enhance the leading ability of technological innovation, build an independent and controllable industrial chain system, continuously build automated and intelligent manufacturing factories, enhance the core competitiveness of enterprises, carry forward Hongfa brand, and promote the high-quality development of enterprises.

　　Specifically, it is proposed to implement the company’s development strategy through the following aspects:

　　(1) Strengthen market operation and expand market share.

　　(2) Accelerate "expanding categories" and strengthen technical guidance.

　　(3) Coordinate production layout and improve operation management.

　　(4) Adhere to "winning by quality" and continue to "cross the threshold"

　　(5) Insist on technical innovation to build enterprise technical strength.

　　(6) Build an autonomous and controllable system to build core competitive strength.

　　(7) Grasp the construction of talents and ensure the development of the echelon.

　　(8) Promote the development of informatization and realize digital growth.

　　(9) Improve the base construction and ensure the development space.

　　(10) Centralized financial control and fine value creation.

　　(3) Business plan

　　In 2022, under the guidance of the three development ideas and the 16-character management policy, the company will always adhere to the principle of "winning by quality", vigorously inherit and carry forward Hongfa culture, strengthen its belief and be determined to innovate, and focus on the following work:

　　(1) Firmly implement the strategy of "expanding categories", use the successful experience of developing relays to promote the development of new categories of products, and cultivate new growth points of the company in the future as soon as possible.

　　(2) continue to build the strength of parts and molds, especially strengthen the research and development of new products, new processes and characteristic processes, and build core competitiveness.

　　(3) Continue to pay close attention to the "short board" work, help short board enterprises in human resources protection, management improvement and technology docking, and promote the rapid development of the eastern base.

　　(4) Standardize the use of raised funds, adhere to high-quality and large-scale investment, promote the construction of production bases, further enhance the strength of enterprises, and lay the foundation for the rapid development of the company in the next stage.

　　(5) Pay attention to the development of macroeconomic situation, organize functional modules such as production, supply and marketing to actively respond to external risks and challenges, and ensure the smooth progress of production and operation.

　　(6) Vigorously enhance the brand awareness of Hongfa, win the brand reputation by continuously improving the product quality, and at the same time strengthen the marketing propaganda, so that enhancing the brand awareness of Hongfa becomes a new meaning of the strategy of "crossing the threshold".

　　(7) Summarize Hongfa’s development experience, carry forward Hongfa’s characteristic culture, complete the compilation of Hongfa’s management experience series, and inherit and practice the unified Hongfa’s characteristic management model.

　　(8) Strengthen the construction of talent team, especially accelerate the construction of senior technical talents and excellent management talents, and provide talent guarantee for the company’s new round of rapid development.

　　(9) Focus on asset management and benefit improvement, further refine enterprise cost control, build the company’s financial knowledge center, output high-quality financial information and provide better services for the company’s strategic implementation.

　　(4) Possible risks

　　I. Operational risks

　　The company’s main products cover relays, low-voltage electrical appliances, high-voltage and low-voltage complete sets of equipment and other categories, and are applied to household appliances, smart homes, automobile industry, smart grid, industrial control, new energy and other fields. If macroeconomic fluctuations, policy adjustments and other factors affect the prosperity of downstream industries or downstream market demand, it may adversely affect the company’s operating performance.

　　Since 2018, trade frictions between China and the United States have been constant. The US government has successively issued three batches of tariff increase lists, in which 25% tariffs are imposed on goods worth $34 billion, $16 billion and $200 billion exported from China to the United States, and relay products are also included in the tariff increase list. Although at present, the products directly sold by the company to the United States account for a relatively small proportion, which has little impact on the company, if the trade friction between China and the United States is further aggravated or there is trade friction between China and other economies in the future, barriers will be set up in terms of trade policies and tariffs, which may have an adverse impact on the company’s operating performance, profitability and market development.

　　The main raw materials of relay products include copper, silver, enameled wire, engineering plastics, etc. The prices of the main raw materials are affected by the fluctuation of the international market of bulk commodities, which directly affects the product profits and the company’s working capital. If the price of the company’s main raw materials fluctuates violently in the future, and the company cannot transfer the negative impact of the price increase of raw materials to downstream enterprises by raising the sales price of products, it will have an adverse impact on the company’s operating performance.

　　Second, the brain drain risk

　　Technicians are very important for the long-term development of relay manufacturers. At present, the high-end relay with high technology content and large profit margin has become the development direction of the industry. Whether it can occupy the high-end market is the key for relay manufacturers to achieve sustainable development. The research and development of high-end relays requires specialized technicians, complete professional knowledge and wide knowledge of other majors, and it takes years of training and practice to truly design and develop new products independently. At the same time, a large number of key technology positions on the production line also need experienced skilled workers to be competent. Therefore, professionals are more important in the relay industry. If brain drain occurs, enterprises will face related losses. The core management and technical backbone of the company hold the company’s equity through qualified investment, and their personal interests can be consistent with the company’s development. Through this shareholding method of management and backbone personnel, the core personnel of Acer Power Generation can be kept relatively stable.

　　Third, technical risks

　　The Technology Center is the core of the issuer’s technological innovation system, and undertakes major research tasks such as product development and design, process design and verification, product performance testing and analysis, mold development and design and manufacturing, automatic production line equipment, test instrument development and design, etc. R&D investment ensures that the company’s products have excellent market competitiveness. If the company can’t continue to invest in R&D or technological innovation in the future, the products will not meet the needs of customers and the requirements of industry changes, and the market competitiveness will decline, thus affecting the company’s profitability.

　　Fourth, financial risks

　　Overseas income accounts for a relatively high proportion of the company’s main business income. The company’s overseas business is mainly settled in foreign currency. If the RMB exchange rate changes greatly, it will cause fluctuations in the balance of the company’s foreign currency monetary assets, and foreign exchange receipts and payments will generate large exchange gains and losses, which will further affect the company’s operating performance. At the same time, the fluctuation of exchange rate may also affect the price of products in overseas markets and face the risk of declining market competitiveness. The company has continuously summarized and improved the exchange rate risk management and control methods suitable for its own needs, locked the exchange rate in time through the analysis of the exchange rate market and operating income, and established a set of foreign exchange management methods and processes. Under the premise of comprehensively considering market liquidity and management costs, it actively pays attention to monetary policy and exchange rate trends, selects the timing of foreign exchange locking and settlement in a timely manner, and rationally uses financial instruments to reduce the impact of exchange rate fluctuations on enterprises and avoid exchange rate risks.

　　V. Policy risks

　　Electronic components industry is the basic support of electronic information industry, and its development is strongly supported and encouraged by national policies. In recent years, the Ministry of Industry and Information Technology, the National Development and Reform Commission and other departments have successively issued a number of policies to encourage and promote the rapid development of the electronic information industry, such as the Information Industry Development Guide, the Special Action Plan for Improving the Design Capability of Manufacturing Industry (2019-2022) and the Basic Electronic Components Industry Development Action Plan (2021-2023). In the future, if the relevant policies of the country on electronic components industry or electronic information industry change, it may lead to certain adverse effects on the company’s operating performance.

　　VI. Risks related to the issuance of this convertible bond

　　(A) principal and interest payment risk

　　During the duration of the convertible bonds, the issuer shall pay interest on the unconverted convertible bonds and pay the principal at maturity. In addition, when the convertible bonds trigger the resale conditions, if the investors put forward the resale, the issuer still needs to honor the resale proposed by the investors, and will face certain cash expenditure pressure in a short time. The convertible bonds issued this time did not provide guarantee. Therefore, if the issuer’s business activities fail to achieve the expected return due to uncontrollable factors such as national policies, regulations, industries and markets in the future, it may affect the issuer’s timely and full payment of the principal and interest of convertible bonds and the acceptance ability of investors when they sell back.

　　(2) The risk of failure to convert convertible bonds into shares at maturity

　　The stock price is not only influenced by the issuer’s profit level and development prospect, but also by the national macroeconomic situation, political and economic policies, investors’ investment preferences, expected returns of investment projects and other factors. If the convertible bonds issued this time fail to be converted due to the sluggish stock price trend of the issuer or the investment preference of the holders of the convertible bonds, the issuer shall pay the principal and interest for the convertible bonds that have not been converted, which will correspondingly increase the financial cost burden and financial pressure of the company. In addition, during the existence of the convertible bonds, if the convertible bonds are redeemed, the company will face certain financial pressure.

　　(C) the risk of reducing the conversion value of convertible bonds

　　The issuer’s stock price trend is influenced by many factors, such as operating results, macroeconomic situation, industry policies, and the overall situation of the stock market. After the issuance of the convertible bonds, the issuer’s share price may continue to be lower than the conversion price of the convertible bonds, so the conversion value of the convertible bonds may decrease, and the interests of the holders of the convertible bonds may be greatly adversely affected. This issuance has set the downward revision clause of the issuer’s share conversion price. If the issuer fails to revise the conversion price downward in time, or even if the conversion price is revised downward, the stock price is still lower than the conversion price, which may still lead to the reduction of the conversion value of the convertible bonds issued this time, and the interests of the holders of convertible bonds may be greatly adversely affected.

　　(D) Risks related to downward revision of the conversion price

　　1. Risk of failure to implement the downward revision clause of conversion price.

　　During the duration of the convertible bonds issued this time, when the closing price of the company’s shares is lower than 90% of the current conversion price for at least 15 trading days in any continuous 30 trading days, the board of directors of the company has the right to propose a downward revision plan for the conversion price and submit it to the shareholders’ meeting for deliberation and voting. This plan can only be implemented if it is approved by more than two-thirds of the voting rights held by shareholders attending the meeting.

　　Under the condition of meeting the downward revision conditions of convertible bonds’ conversion price, the issuer’s board of directors may still not propose the downward revision plan of conversion price based on multiple considerations such as the company’s actual situation, stock price trend and market factors; Or the downward revision plan of the conversion price proposed by the issuer’s board of directors has not been reviewed and approved by the shareholders’ meeting. Therefore, the holders of convertible bonds may face the risk that the downward revision of the conversion price will not be implemented during the duration.

　　2. Risk of downward revision of the conversion price with uncertain range.

　　During the existence of the issuer’s convertible bonds, even if the issuer revises the conversion price according to the downward revision clause, the revised conversion price shall not be lower than the higher average price of the company’s shares in the 20 trading days before the shareholders’ meeting to consider the proposal on the conversion price revision scheme and the average price of the previous trading day, so the correction range of the conversion price is limited to some extent, and there is a risk of uncertainty. Moreover, if the stock price continues to fall after the correction and the future stock price continues to be lower than the conversion price after the downward correction, the conversion value of the convertible bonds will undergo major adverse changes, which may lead to the risk that the convertible bonds will be sold back or cannot be converted during the conversion period.

　　3. The downward revision of the conversion price leads to the risk of the company’s share capital dilution.

　　During the duration of the convertible bonds, if the issuer’s shares trigger the downward revision of the conversion price, the conversion price of the convertible bonds issued this time will be adjusted downward. Under the condition of the same conversion scale, the number of shares converted by the issuer will increase accordingly, which will lead to the expansion of the dilution of the share capital. Therefore, during the duration, the issuer may face the risk of increasing the dilution degree of the share capital due to the implementation of the downward revision clause of the conversion price.

　　(V) Risk of price fluctuation of convertible bonds

　　Convertible bonds, as derivative financial products, have the dual characteristics of stocks and bonds. The secondary market price of convertible bonds is influenced by many factors, such as market interest rate level, coupon rate, remaining years, conversion price, stock price of listed companies, redemption terms and resale terms, investors’ psychological expectations, etc. The price fluctuation situation is more complicated, and even there may be abnormal fluctuations or deviations from their investment value, which may make investors face certain investment risks.

　　(VI) Liquidity risk

　　The trading activity of the securities trading market is influenced by the macroeconomic environment, the distribution of investors, investors’ willingness to trade and other factors. The issuer cannot guarantee that the holders of the convertible bonds can trade their bonds in full and at any time after listing on the Shanghai Stock Exchange. Therefore, after purchasing this convertible bond, investors may face the liquidity risk that they can’t sell the amount they want to sell in full at a certain price because the bond is inactive after listing.

　　(7) Risk of credit rating change

　　After the new century credit rating, the issuer’s main credit rating is AA, and the credit rating of this convertible bond is AA. During the validity period of the credit rating of this convertible bond or the duration of this convertible bond, the tracking rating will be conducted at least once a year in the new century, and the issuer cannot guarantee that its main credit rating and the credit rating of this convertible bond will not change negatively during the validity period of the credit rating or the duration of the bond. If the credit rating agency lowers the issuer’s main credit rating and/or the credit rating of this convertible bond, it may have a certain impact on the interests of bondholders.

　　Eight, the risk of COVID-19 epidemic.

　　In recent years, novel coronavirus broke out one after another in various regions of the world, which had a great impact on the world macro-economy. Subject to quarantine measures, traffic control and other epidemic prevention and control measures, the company’s procurement, production and sales are affected to some extent in the short term. Although the domestic COVID-19 epidemic has been effectively controlled, the issuer has resumed normal production and operation, and all work has been carried out in an orderly manner, if the COVID-19 epidemic recurs in China or continues to spread around the world for a long time, it may still have a certain degree of adverse impact on the company’s strategic implementation, production and operation, and performance.

　　The above possible risks have not changed much from the risk factors suggested in the previous year (or prospectus).