标签： 苏州桑拿网

Liu Genshan, Chairman of Shanghai Maosheng Group, was investigated for alleged fraud of 4.3 billion yuan (Figure).

Topic: picture channel


Zhao Jing, a reporter from the headquarters of Maosheng International Group Co., Ltd., located at No.1051 Xinzha Road, Shanghai



Liu Genshan, Chairman of Maosheng International Group


　　Liu Genshan, the former "king of highways" in Shanghai and the 51-year-old chairman of Maosheng International Group Co., Ltd. (hereinafter referred to as "Maosheng Group"), is suspected of defrauding huge sums of money and is being investigated by relevant state departments.


　　According to a person familiar with the Shanghai real estate industry, Liu Genshan was investigated at the beginning of this year for allegedly defrauding huge sums of money. It is said that the amount of fraud is as high as 4.3 billion yuan.


　　According to another person familiar with the matter, Liu Genshan was taken away by the relevant authorities about a week ago. According to relevant sources, Liu Genshan’s arrest is even more implicated in Zhejiang.


　　Liu Genshan, who was born in Shanghai, was familiar with Zhang Rongkun, president of Fuxi Group, and Zhang Rongkun was later called the "king of highways" in Shanghai. On the morning of June 22nd this year, the Higher People’s Court of Jilin Province made a final judgment and sentenced Zhang Rongkun to 19 years’ imprisonment.


　　Report letter leads to financial crisis.


　　2004 was the heyday of Liu Genshan, who ranked 36th in the Hurun China Rich List in 2004, with assets of 2.1 billion yuan. Liu Genshan, who is also the chairman of Shanghai Maosheng Group and the chairman of the board of directors of Hong Kong listed company Maosheng Holdings Limited, was once named as "the richest man in China".


　　It is worth noting that it was at the beginning of the following year that the contents of a tip-off letter sent to the Hong Kong Independent Commission Against Corruption were made public, which made the fund problem of Liu Genshan’s company widely concerned by all parties.


　　According to the tip-off, Shanghai Maosheng transferred a large amount of loan funds of nearly RMB 3 billion to overseas countries through illegal means such as underground banks, and some of the funds acquired Asean Resources, a Hong Kong listed company that had been suspended, and renamed it Maosheng Holdings.


　　The tip-off letter said that Shanghai Maosheng’s practice of transferring project funds led to the suspension of its loan construction projects in the mainland, such as two expressway projects in Shanghai and Ningbo, due to lack of funds.


　　As evidence, Liu Genshan invested in three expressways in Zhejiang: Ningbo Ring Expressway, Beilun Port Expressway and Yongjin Expressway.


　　Among them, in the 2004 Zhejiang Expressway Maintenance Inspection Report, Beilun Port Expressway Maintenance became a negative model and was criticized by name. Ningbo Transportation Bureau confirmed in April 2005 that Maosheng withdrew its capital from Ningbo Ring Expressway project in the second half of 2004.


　　On the evening of September 10th, 2005, Liu Genshan said in an interview at Maosheng Business Center, Xinzha Road, Shanghai, "Chongqing’s family affairs have been settled, and nearly 1 billion assets have been returned to me. Maosheng Holdings will purchase domestic highway assets in a big way in the next step."


　　"Road to Life" operation mode


　　Since the end of 2005, Liu Genshan has suddenly faded out of the public eye. Up to now, through the Shanghai 114 telephone inquiry, we can’t find the public telephone number of Maosheng Group. On the evening of July 7th, a police car was parked in the courtyard of Maosheng Business Center Building, No.1051 Xinzha Road, Shanghai, the office of Maosheng Group.


　　Time goes back more than 20 years. Liu Genshan and its Maosheng Group have invested in many industries for more than 20 years, including infrastructure, real estate, trade, shipping, entertainment and finance. In 1999, Liu Genshan got the first expressway project-Jialiu Expressway, and embarked on the journey of making money as a "king of highways". In the following years, Maosheng invested in seven expressways in a row.


　　According to the public information in 2003, all the seven highways invested by Liu Genshan adopted the operation mode of "living by road". Shanghai Jialiu Project is a project company jointly established by Shanghai Maosheng Group and Shanghai Urban Construction. The registered capital of the company is only 100 million yuan, of which 51% is contributed by Shanghai Urban Construction (Group) Company and 49% by Shanghai Maosheng Enterprise Development (Group) Co., Ltd., with an investment of less than 50 million yuan. The total investment of the project is 450 million yuan.


　　The second Shanghai-Qingping Highway is composed of Shanghai Maosheng Group, Shanghai Urban Construction and Shanghai Construction Engineering Co., Ltd., with 67%, 25% and 8% respectively, with a total capital of 620 million yuan and a total investment of 3.5 billion yuan. Maosheng invested 420 million yuan.


　　The third road, Shanghai Tongsan Expressway, started almost at the same time as Shanghai Qingping Highway, and was also jointly established by Shanghai Construction Engineering (47.75%), Shanghai Urban Construction (26.25%) and Shanghai Maosheng Group (26%). The company’s capital is 960 million yuan, the total investment is 2.88 billion yuan, and Maosheng invested 250 million yuan.


　　Subsequently, the investment level of Shanghai Maosheng was enlarged. Article 4 Shanghai South Ring Expressway registered capital of 800 million yuan, which was wholly owned by Maosheng Group. The total investment is 3.618 billion yuan.


　　Article 5 Ningbo Ring Expressway Co., Ltd. was jointly established by Shanghai Maosheng and Ningbo Communications Investment and Development Company. The company invested 1.2 billion yuan in the first phase, with Shanghai Maosheng Group as the controlling shareholder and 80% of the company’s equity. The total investment of the project is 3.65 billion yuan, and the second phase of Ningbo Ring Road (Beilun to Camel section) needs to invest 5.1 billion yuan, totaling 8.75 billion yuan. Maosheng needs a total investment of 2.5 billion yuan.


　　Article 6 Yongjin Expressway is jointly funded by Shanghai Maosheng Group and Shaoxing Traffic Investment Co., Ltd.. The company’s capital is 840 million yuan, of which Maosheng, as the controlling shareholder, owns 70% of the company’s shares with a total investment of 2.8 billion yuan. Maosheng invested nearly 600 million yuan.


　　The seventh road, Ningbo Beilun Port, was acquired. It was revealed that the acquisition cost was nearly 2.5 billion yuan.


　　There are luxuriant executives who sum up the trilogy of Liu Genshan’s investment highway: the first step is to seek highway resources and make strategic planning; The second step is to make a decision immediately, win the road with real potential, and decide not to go through a complicated procedure of voting by shareholders of listed companies; The third step, after the highway is completed, according to the specific situation of the capital market, put it into the listed company.

Key words of the Third Plenary Session of the 13th Central Committee

Manage the economic environment and rectify the economic order.

The Third Plenary Session of the 13th CPC Central Committee agreed with the Political Bureau of the Central Committee’s guiding principles, policies and measures for managing the economic environment, rectifying the economic order and comprehensively deepening the reform. The plenary session decided that under the premise of adhering to the general direction of reform and opening up, the focus of reform and construction in 1989 and 1990 should be put on managing the economic environment and rectifying the economic order. Governing the economic environment is mainly to reduce the total social demand and curb inflation. Rectifying the economic order is to rectify all kinds of chaotic phenomena in the current economic life, especially in the circulation field. The plenary session demanded that resolute and effective measures should be taken in these two aspects.

Clean up the "triangle debt"

"Triangle debt" generally refers to the phenomenon of serial arrears of payment between enterprises, which has appeared in the process of China’s economic reform and development. In the middle and late 1980s, when China’s economy was overheated, when the economic situation changed, due to the weak market, the backlog of finished products and the lack of liquidity in the production of enterprises, the phenomenon of mutual arrears of payment between enterprises was very serious, which affected the normal production of enterprises.

On August 31st, 1991, the State Council held a national working conference on cleaning up "triangular debts". The meeting pointed out that "triangular debt" has become a serious obstacle to the normal operation of the national economy, and it is imperative to fundamentally solve the problem of "triangular debt". The State Council decided to clean up the "triangle debt" as a breakthrough to enliven large and medium-sized state-owned enterprises and manage the economic order.

Science and technology are the primary productive forces

"Science and technology are the primary productive forces" is an important assertion put forward by Deng Xiaoping. Deng Xiaoping has always attached importance to the role of science and technology in social and economic development. As early as September 26, 1975, when listening to the work report of China Academy of Sciences, in view of the actual situation at that time, he clearly pointed out: "Science and technology are called productive forces, and scientific and technological personnel are laborers!" At the opening ceremony of the National Science Conference held in March, 1978, Deng Xiaoping pointed out: Science and technology are productive forces, which has always been a Marxist view. With the development of modern science and technology, the relationship between science and production is getting closer and closer. As a productive force, science and technology are playing an increasingly important role.

On September 5, 1988, when Deng Xiaoping met with Czechoslovakia President Hu Sake, he put forward an important conclusion that "science and technology are the primary productive forces". On September 12 of the same year, when listening to the work report of relevant leading comrades of the Central Committee, he pointed out: attention should be paid to education and science and technology. We should fully understand the importance of science and technology. Science and technology are the primary productive forces, and intellectuals are part of the working class. At the beginning of 1992, during his visit to the South, Deng Xiaoping once again emphasized that science and technology are the primary productive forces. A breakthrough in the high-tech field has promoted the development of a number of industries.

Deng Xiaoping’s important thought that "science and technology are the primary productive forces" has played a very important role in promoting the scientific and cultural level of the whole nation and vigorously developing science and technology.

Deng Xiaoping’s speech on inspecting the south.

From January 18th to February 21st, 1992, Deng Xiaoping made a series of important speeches during his inspection in Wuchang, Shenzhen, Zhuhai and Shanghai, which people used to call "Southern Speech". Deng Xiaoping reiterated the necessity and importance of deepening reform and accelerating development in view of the major problems that troubled people’s thoughts at that time, and from the reality of China and the height of the times, he profoundly summarized the experience and lessons of reform and opening up for more than ten years. In his speech, Deng Xiaoping clearly put forward the standard of "three benefits", emphasizing that "planned economy does not mean socialism, and capitalism also has plans; The market economy is not equal to capitalism, and socialism also has a market. "

Deng Xiaoping’s "Southern Speech" greatly emancipated people’s minds, strengthened people’s socialist beliefs, and greatly promoted the process of China’s reform and opening up.

The blue warning of heavy rain and strong wind in Beijing is double, and gusts in some areas can reach 8 levels.

　　Beijing, Sept. 9 (Xinhua) According to the official Weibo news of Beijing Meteorological Bureau, the Beijing Meteorological Observatory issued a blue rainstorm warning signal at 18: 15 on September 9, 2019: It is predicted that there will be short-term heavy precipitation with hourly rainfall intensity of about 30mm in Beijing from now until 5: 00 on the 10th, and the secondary disasters such as floods, mountain torrents and geological disasters induced by heavy precipitation in mountainous areas and shallow mountainous areas are high, and water accumulation is easy to occur in low-lying areas. Please pay attention to prevention.

　　At the same time, according to the website of Beijing Meteorological Bureau, Beijing issued a blue warning of strong wind. It is estimated that gusts in most parts of Beijing will reach 7 or 8 by 00: 00 on the 10th, so please take precautions.

　　Image source: Beijing Meteorological Bureau official Weibo

Learning English ｜ Promoting the overall green transformation of economic and social development

　　Lucid waters and lush mountains are invaluable assets. In the article "Several Major Issues in Current Economic Work" published recently, General Secretary of the Supreme Leader pointed out that it is necessary to promote the green transformation of economic and social development, jointly promote carbon reduction, pollution reduction, green expansion and growth, create conditions to speed up the transition from "double control" of energy consumption to "double control" of carbon emission, and continue to fight the defense of blue sky, clear water and pure land to build a beautiful China. today，Dangjian. comI sort out some important expositions of the Supreme Leader’s General Secretary, and invite you to study and understand them together.

　　From September 16 to 18, 2019, the supreme leader visited Henan. On the afternoon of 17th, the Supreme Leader had a cordial exchange with his colleagues in the assembly workshop of Zhengzhou Coal Mining Machinery Group Co., Ltd.. Xinhua News Agency reporter Ju Peng photo

　　Adhere to Lucid waters and lush mountains are invaluable assets’s philosophy.

　　We should attach great importance to ecological protection, firmly establish the concept of Lucid waters and lush mountains are invaluable assets, solve the ecological environment problems from the source, continue to promote the upgrading and optimization of industrial structure and energy structure, strive to build a green and low-carbon circular economic system, resolutely win the battle for blue sky, clear water and pure land, make overall plans to promote the management of landscape forest, field, lake and grass systems, protect the ecology along the Yellow River, and improve the quality and stability of natural ecosystems.

　　— — From September 16 to 18, 2019, the speech of the supreme leader during his investigation in Henan. Since the 18 th National Congress of the Communist Party of China, our concept of ecological civilization has been deeply rooted in the hearts of the people. This concept conforms to the development law of human society and the people’s expectations for a better life. To promote high-quality economic development, we must never take the old road of pollution first and then treatment. As long as we adhere to ecological priority and green development, persevere and make contributions for a long time, we will certainly turn green mountains into Jinshan Yinshan. 　　— — From January 19 to 21, 2020, the Supreme Leader made a speech during his investigation in Yunnan. We adhered to Lucid waters and lush mountains are invaluable assets’s idea, adhered to the integrated protection and systematic management of mountains, rivers, fields, lakes, grass and sand, and strengthened ecological environmental protection in all directions, regions and the whole process. The system of ecological civilization system was more sound, pollution prevention and control was pushed forward in depth, green, circular and low-carbon development took solid steps, ecological environmental protection took place in a historic, turning and overall way, and our motherland was bluer.

　　— — On October 16, 2022, the report of the Supreme Leader in the The 20th National Congress of the Communist Party of China（CPC）.

　　From January 19 to 21, 2020, the supreme leader came to Yunnan to visit and express condolences to the cadres and masses of all ethnic groups and extend Chinese New Year greetings to the people of the whole country. This is the afternoon of 20th, when the Supreme Leader visited the ecological wetland in Xinghai Peninsula, Dianchi Lake, Kunming. Xinhua News Agency reporter Ju Peng photo

　　Maintain the strategic determination to strengthen the construction of ecological civilization, and strive to promote the comprehensive green transformation of economic and social development.　　On the new journey of building a socialist modern country in an all-round way, the whole party and the whole country should maintain the strategic determination to strengthen the construction of ecological civilization, make great efforts to promote the comprehensive green transformation of economic and social development, make overall plans for pollution control, ecological protection and response to climate change, strive to build a beautiful China where man and nature coexist harmoniously, and make greater contributions to building a clean and beautiful world! 　　— — On June 5, 2022, the Supreme Leader sent a congratulatory letter to the national home event on the Sixth Five-Year Environment Day in 2022. Promoting green and low-carbon economic and social development is the key link to achieve high-quality development. Accelerate the adjustment and optimization of industrial structure, energy structure and transportation structure. Implement a comprehensive conservation strategy, promote the conservation and intensive use of various resources, and accelerate the construction of a waste recycling system. Improve the fiscal, taxation, finance, investment and price policies and standard systems that support green development, develop green and low-carbon industries, improve the market-oriented allocation system of resources and environmental factors, accelerate the research and development, popularization and application of advanced technologies for energy conservation and carbon reduction, advocate green consumption, and promote the formation of green and low-carbon production methods and lifestyles. 　　— — On October 16th, 2022, the report of the Supreme Leader in The 20th National Congress of the Communist Party of China（CPC） promoted economic optimization and upgrading. Accelerate scientific and technological innovation and institutional innovation, cultivate new economy, new format and new business model, and realize the digital transformation of Asia-Pacific economy. Adhere to green and low-carbon development, expand green industries and green finance, and accelerate the construction of green cooperation pattern in the Asia-Pacific region.

　　— — On November 17, 2022, the Supreme Leader delivered a written speech at the APEC CEO Summit.

　　On March 5, 2019, the top leaders attended the deliberation of the Inner Mongolia delegation at the Second Session of the 13th National People’s Congress. Xinhua News Agency reporter Xie Huanchi photo

　　Implement the new development concept and unswervingly follow the path of ecological priority, green and low-carbon development.　　It is necessary to explore new ways of high-quality development oriented to ecological priority and green development. It is necessary to implement the new development concept, coordinate the relationship between economic development and ecological environment protection, and strive to explore a new high-quality development path that conforms to strategic positioning, reflects the characteristics of Inner Mongolia, and is oriented to ecological priority and green development. 　　— — On March 5, 2019, when the Supreme Leader attended the deliberation of the Inner Mongolia delegation at the Second Session of the 13th National People’s Congress, he should unswervingly implement the new development concept, adhere to the system concept, properly handle the relationship between development and emission reduction, overall and partial, short-term and medium-and long-term, take the overall green transformation of economic and social development as the guide, and take the green and low-carbon development of energy as the key, accelerate the formation of industrial structure, production methods, lifestyle and spatial pattern that save resources and protect the environment, and unswervingly take ecological priority, green and low carbon. 　　— — On March 15, 2021, the Supreme Leader’s Speech at the Ninth Meeting of the Central Financial and Economic Committee

　　Since the 18th National Congress of the Communist Party of China, the CPC Central Committee has implemented the new development concept, unswervingly followed the path of ecological priority, green and low-carbon development, and made great efforts to promote the overall green transformation of economic and social development, and achieved remarkable results. We have established and improved a green and low-carbon circular development economic system, continuously promoted the adjustment of industrial structure and energy structure, launched a national carbon market transaction, announced that no new overseas coal-fired power projects will be built, accelerated the construction of a "two-carbon" policy system, and actively participated in international negotiations on climate change, demonstrating the responsibility of a responsible big country.

　　— — On January 24, 2022, the Supreme Leader’s speech at the 36th collective study in the Political Bureau of the Communist Party of China (CPC) Central Committee.

Report on the vitality of the Yangtze River ①： The health status of the Yangtze River basin presents regional differences.

On September 27th, on the day of World River Day, the press conference of "Taking the Pulse of the Yangtze River" and "Yangtze River Vitality Report 2020" (hereinafter referred to as "Report") co-sponsored by WWF and The Paper was held in Shanghai.

In this activity, WWF, together with the Institute of Hydrobiology of Chinese Academy of Sciences, the Institute of Geographical Sciences and Resources of Chinese Academy of Sciences, the Nanjing Institute of Geography and Lakes of Chinese Academy of Sciences, the Yangtze River Academy of Water Conservancy Commission, the Environmental Planning Institute of the Ministry of Ecology and Environment, the Key Laboratory of Yangtze River Water Environment Education Department of Tongji University, the School of Water Conservancy and Hydropower of Wuhan University, and the Suzhou Institute of Environmental Innovation of Tsinghua, jointly released the Yangtze River Vitality Report 2020.

It is understood that WWF and the above eight research institutes started the project in 2018. The purpose is to provide a systematic and objective report on the health diagnosis of the Yangtze River, provide policy advice for strengthening the ecological environment protection of the Yangtze River basin and implementing the green development strategy of the Yangtze River Economic Belt, provide policy suggestions for the protection and management of the Yangtze River ecosystem, and stimulate and promote different stakeholders to actively participate in the Yangtze River protection.

Kyle Rambotti, Global Director-General of WWF, said in the preface that as the first complete basin-level index in the world, the Yangtze River Vitality Index is also an innovation, and its concept connotation and evaluation method are expected to be further promoted worldwide. After all, for the major rivers in the world, we can’t reverse the trend of freshwater ecosystem loss and biodiversity decline until we better understand their vitality.

As the core of the report, Kyle Rambotti said that a complete basin-level index in the world is the Yangtze River vitality index, which sorts out many indicators and selects representative, indicative, concise, traceable and sustainable indicators to comprehensively reflect the health status of the Yangtze River freshwater ecosystem from three dimensions: hydrology, water environment and water ecology. The main conclusion of the index evaluation is that the overall health status of the Yangtze River is B-, and it shows regional differences with human activities.

The Paper, as the strategic cooperation media of the project, sent reporters to interview the relevant experts of the research group on the hydrology, water environment and water ecology of the Yangtze River before the report was released, so as to comprehensively interpret the report on the vitality of the Yangtze River.

Hydrological article

Hydrological index should be considered comprehensively.

The report points out that as an important characteristic of freshwater ecosystem, the change of hydrological situation determines the water quality, habitat and biological life history process of rivers. At the same time, the amount of river sediment transport and the change of sediment erosion and deposition significantly affect the biogeochemical cycle, water quality, river-lake relationship and the development of estuary delta, which is of great significance to the function of river ecosystem. The indexes for evaluating hydrological situation in the report mainly include hydrological process indicators and connectivity indicators.

Jin Chen, the leader of the research group of the report and a professor at the School of Water Resources and Hydropower of Wuhan University, told The Paper that the hydrological index is mainly aimed at natural rivers, that is, compared with the era without large reservoirs (before 1980), the higher the index, the closer it is to the natural hydrological process.

He said that at present, the main stream and tributaries of the upper reaches of the Yangtze River (except Chishui River) are not pure natural rivers. Therefore, the hydrological index is not high, which is mainly aimed at natural ecosystems such as fish. For densely populated China, it is necessary to build a reservoir. It cannot be simply said that a high hydrological index is better, and a low hydrological index is not good. "Both human beings and nature need water resources. The high or low hydrological index reflects the difference between human beings and nature in water resources distribution. It is necessary to comprehensively consider the needs of human development and nature protection and make rational distribution and regulation."

Global warming and the development of urban agglomeration affect the hydrological situation.

Besides being influenced by the connectivity between reservoirs and rivers and lakes, climate change also shapes the hydrological situation of the Yangtze River, which is mainly reflected in precipitation and flood events. Li Xin, a member of the research group and a doctor from the National University of Singapore, told The Paper that the report analyzed the impacts of ENSO (El Nio-Southern Oscillation, El Ni? o/La Ni? a and Southern Oscillation) events and global warming on the extreme precipitation index and hydrological core index by correlation analysis.

The results show that ENSO events have a significant impact on the extreme precipitation indexes in the source, upper and middle reaches of the Yangtze River basin. Specifically, La Nina events in ENSO events will generally increase the intensity and frequency of extreme precipitation in the source, upper and middle reaches of the Yangtze River basin, which may lead to an increase in flood risk in the Yangtze River basin. Global warming has a significant impact on the index of extreme precipitation in the middle and lower reaches of the Yangtze River basin, which will generally increase the intensity and frequency of annual precipitation and extreme precipitation events in the middle and lower reaches of the Yangtze River, and may also increase the flood risk in the Yangtze River basin.

Li Xin also stressed that the impacts of global warming and ENSO events on hydrological core indexes in different water resources areas show spatial differences, which indicates that hydrological processes have complex responses to global climate change. He believes that "this requires us to further strengthen the impact assessment of climate change on the regional hydrological cycle process, and constantly improve the ability of the Yangtze River basin to scientifically respond to climate change under the background of" Great Protection of the Yangtze River ".

According to the analysis of the report, the rapid development of urban agglomerations in the middle reaches may lead to frequent floods and an increase in the average flow during the flood season. In this regard, Li Xin explained that "the urbanization process has turned many permeable surfaces into impermeable surfaces, resulting in reduced infiltration, increased surface runoff components and increased peak urban flood discharge".

Nature-based solutions may ease the flood control situation in the Yangtze River.

According to the above analysis of the two experts, it can be seen that climate change, land use and other factors all affect the hydrological situation of the Yangtze River, making the flood control situation in the Yangtze River basin more complicated. This summer, the middle reaches of the Yangtze River once again experienced the test of a big flood. How to alleviate the complicated and severe situation, the report proposes that the solution based on nature should be one of the important means in the future when necessary engineering measures are adopted. Jiang Luguang, one of the technical leaders of the research group and an associate researcher at the Institute of Geographical Sciences and Resources, Chinese Academy of Sciences, explained this scheme in detail.

The World Conservation Union (IUCN) defines "nature-based solution" (NBS) as "an action to efficiently and adaptively respond to social challenges and bring benefits to human welfare and biodiversity through the protection, sustainable management and restoration of natural or artificial ecosystems". Jiang Luguang believes that this is completely consistent with China’s ecological civilization concept of respecting nature, adapting to nature and protecting nature. He told The Paper that there are many concrete manifestations of nature-based solutions, such as ecological restoration, adaptive strategies of ecosystems, and green infrastructure.

Taking the flood situation of Poyang Lake in flood season this year as an example, Jiang Luguang introduced the function of "returning farmland to lake" project to adapt to the natural rhythm of the Yangtze River and promote the harmony between people and water. In the flood season of 2020, some hydrological stations in Poyang Lake experienced the highest flood level in history, and the project of returning farmland to Poyang Lake fully played the role of flood storage and detention for the first time. Returning farmland to lake dikes can store about 2 billion cubic meters of flood water, reducing the water level of the lake by 25-30 cm in flood season, and greatly alleviating the flood control pressure of key dikes (protecting towns or tens of thousands of acres of fertile land).

In addition, the ongoing sponge city construction is also a good "nature-based solution". Sponge city advocates giving priority to the use of natural drainage system and low-impact development facilities in urban development and construction to realize natural accumulation, natural infiltration, natural purification and sustainable water circulation of rainwater, which can not only make full use of the natural restoration ability of water ecosystem, but also be an important means to solve the problem of urban waterlogging. For the Yangtze River basin, sponge city can reduce the adverse effects of drastic changes in the underlying surface of the basin on the runoff and runoff.

Water environment chapter

The water environment index in the middle and lower reaches of the Yangtze River is low.

Freshwater ecosystem is the main receiving place of nutrients and organic matter exported by terrestrial ecosystem. The quality of water environment determines whether freshwater ecosystem can provide clean water resources, and nutritional status plays an important role in shaping biological composition and community structure in freshwater ecosystem. The water environment index of the Yangtze River vitality index is mainly aimed at evaluating the main pollutant indexes.

The report pointed out that the main pollutants affecting the water environment index include industrial wastewater, domestic sewage and agricultural cultivation. When calculating the water environment index, the main basis is the water quality index.

Xu Yanxue of the Environmental Planning Institute of the Ministry of Ecology and Environment explained this. "We selected the water quality monitoring sections of major rivers and lakes in the Yangtze River Basin, and calculated three indicators representing water nutrition and organic pollutants, namely ammonia nitrogen, total phosphorus and permanganate index, and obtained the water environment index of each region (main river reach, main tributaries, four lakes, etc.) and evaluated it. The higher the water environment index, the lighter the water pollution and the better the water quality; The lower the water environment index, the higher the water pollution and the worse the water quality.

Xu Yanxue told The Paper that, after calculation, the overall water environment quality of the Yangtze River basin is at the national middle-upper level. However, from the main stream of the Yangtze River, the water environment index in the middle and lower reaches is relatively low, which is B-.

"The social and economic development in the middle and lower reaches of the Yangtze River is rapid, with concentrated industrial enterprises and active production activities. The typical pollutants discharged into the environment by these enterprises are total phosphorus, ammonia nitrogen and organic matter. The permanganate index reflects the concentration of organic matter in water. Although each enterprise has relevant emission standards to limit the amount of pollutants entering the environment, the total amount of emissions will be relatively high. At the same time, the amount of pollutants produced by agriculture and life and the amount of pollutants brought in by the upper reaches of the Yangtze River will be superimposed, resulting in total phosphorus, ammonia nitrogen and permanganate in the middle and lower reaches of the Yangtze River.

At present, the regulatory system can not accurately locate pollution sources.

According to the analysis of the report, the high concentration of pollutants will lead to the decrease of dissolved oxygen in the water body and affect the growth of aquatic organisms. At the same time, the high concentration of total phosphorus will affect the concentration of total phosphorus in the downstream lake water body, leading to the eutrophication of the lake. The Paper noted that the report made a separate analysis of the vitality indices of the four major lakes in the Yangtze River Basin, namely Poyang Lake, Dongting Lake, Taihu Lake and Chaohu Lake, among which the water environment of the four lakes was the key point.

Taking Taihu Lake as an example, the report explains the water environment crisis faced by the lake and its solutions. Since the cyanobacteria crisis in Taihu Lake in 2007, the state and local governments have done a lot of work on pollutant emission reduction and lake pollution control, and achieved remarkable results, but they still failed to return to the concentration level of nutrient elements in the 1970s and 1980s. Under unfavorable meteorological conditions such as high fever and southeast wind, cyanobacteria still broke out in Taihu Lake in recent years, which still failed to change the nature of algal lakes.

The Paper interviewed Yang Hongwei, deputy chief engineer of Suzhou Institute of Environmental Innovation in Tsinghua, about why Taihu Lake has not achieved remarkable results so far. He first affirmed the governance direction of eutrophic lakes. He believes that from the international experience of lake eutrophication control, the management of eutrophic lakes is a long-term project, and the time scale of 10 years is not enough to fundamentally change the essence of lake eutrophication. Judging from the current measures and effects of water pollution control in Taihu Lake, we have achieved remarkable results, especially the concentration of total phosphorus and total nitrogen has decreased significantly, and the frequency and severity of cyanobacteria outbreaks have also decreased significantly, so there is no deviation in our control direction.

However, he also admitted that although there is no deviation in the direction of governance, the regulatory system still needs to develop towards precision. "The current monitoring system can’t meet the requirements of smaller-scale grid supervision, can’t accurately locate pollution sources, and it is difficult to achieve accurate pollution control. This is also a new requirement for the regulatory system in the next step of precise lake governance."

We should continue to pay attention to the types and toxicity of emerging pollutants in water.

The Paper noted that the report specifically mentioned the emerging pollutants in the Yangtze River. Yang Hongwei told The Paper that emerging pollutants generally refer to substances that have not been related to environmental management policies, regulations or emission control standards, but may be included in the control object according to the assessment of their detection frequency and potential health risks. These substances are not necessarily new chemicals, but usually pollutants that have been in the environment for a long time, but have been discovered in the near future because of their low concentration, their existence and potential harm and the development of detection technology.

At present, emerging pollutants detected in the water environment mainly include endocrine disruptors, drugs, personal care products and other trace organic pollutants. Usually, the detection concentration in the water environment is at the level of ng/L. At this concentration level, it generally does not have acute toxicity, and it mainly produces chronic toxicity to organisms in the Yangtze River and further to human body, which is not enough to achieve long-term toxic concentration. However, it has potential endocrine disrupting properties, teratogenesis, carcinogenesis, mutation and resistance gene changes and other chronic toxicity, so we should continue to pay attention to the types, concentrations, sources, migration and transformation, toxicity of emerging pollutants in water, so as to grasp the hazards of emerging pollutants in water in time and provide reference for the formulation of corresponding environmental management policies and regulations.

Water ecology article

The middle reaches of the Yangtze River are frequently disturbed by various human activities, and the water ecology is the worst.

The water ecological index mainly evaluates the richness, diversity, community structure and habitat of aquatic organisms in the main stream of the Yangtze River and four lakes (Dongting Lake, Poyang Lake, Chaohu Lake and Taihu Lake). Water ecology is a "living" part of vitality, and its index directly reflects whether the Yangtze River still has vitality and how much vitality it has.

Chen Yushun, the technical director of the evaluation of the water ecological status of the main stream of the Yangtze River, a researcher and doctoral supervisor at the Institute of Hydrobiology, Chinese Academy of Sciences, said that the water ecology of the main stream of the Yangtze River is generally at the B- level. That is to say, on the whole, the water ecology of the Yangtze River has been at an unhealthy level, which shows that the Yangtze River is really ill. Among them, the water ecological index in the middle reaches is the worst.

It is embodied in the decrease of fish species, natural fishery catch and early fish resources. Chen Yushun said, "The number of fish species in the middle reaches of the Yangtze River has decreased by 36 from 97 in the past, the number of endemic fish species has decreased by 16 from 38 in the past, the number of threatened fish species has decreased by 11 from 16, the number of finless porpoises has decreased from 902 in the past to 193 now, the natural fishery catch has decreased from more than 400,000 tons in the past to 80,000 tons now, and the early fish resources have decreased from 6.7 billion in the past to 9 now.

Chen Yushun further explained this. "Due to the hydropower development in the upper reaches of the Yangtze River and its tributaries, and the interference of human activities such as fishing, shipping, sand mining and industrial and agricultural development in the middle reaches of the Yangtze River, the middle reaches are greatly affected by the superposition. Such as the change of hydrological situation, the decrease of sediment, the utilization of beaches, the reproduction of aquatic organisms such as fish, the degradation and loss of key habitats for growth, and the serious lack of bait resources. Coupled with the direct and indirect effects of overfishing, the above indicators in the middle reaches of the Yangtze River are very low, which in turn affects the comprehensive index of water ecology in the middle reaches of the Yangtze River.

In order to ensure the effect of fishing ban, ecological monitoring should be strengthened

According to Chen Yushun’s description, the biological resources of the Yangtze River are declining and the biodiversity is declining, so it is urgent to "ban fishing in the Yangtze River for ten years". In order to effectively alleviate this crisis, the state has issued a series of relevant documents and notices to make arrangements for a total ban on fishing.

On July 15, 2020, Yu Kangzhen, Vice Minister of Agriculture and Rural Affairs of China, said at the policy briefing held by the State Council Office that on January 1 this year, 332 aquatic life reserves in the Yangtze River Basin had been completely banned on schedule, and the fishing ban in key waters in the Yangtze River Basin would be implemented for 10 years from January 1, 2021.

For the 10-year cycle, Chen Yushun explained to The Paper that 10 years is a relative value, and fish can complete a certain breeding cycle, which should also be a tentative period. During this period, most aquatic organisms can have a relatively long period of proliferation and population recovery. However, in these 10 years, it is also necessary to adjust other stress factors, carry out habitat restoration and restore biological resources at the same time.

In order to effectively monitor the effect of the ban on fishing, Chen Yushun suggested that the relevant departments should open up a green channel for scientific investigation when carrying out a comprehensive ban on fishing, so as to ensure the availability of scientific research vessels and the simplicity of handling fish fishing licenses. In this way, scientists and fishery resource managers can really work in the same direction to jointly promote the ecological protection of the Yangtze River.

The ecology of the four lakes in the Yangtze River is not optimistic as a whole.

According to the report, Dongting Lake, Poyang Lake, Chaohu Lake and Taihu Lake are the four largest freshwater lakes in the Yangtze River Basin, among which Dongting Lake and Poyang Lake directly connect with the Yangtze River. These four shallow-water and fresh-water lakes play a huge ecosystem service function in terms of water regulation, material supply, providing biological habitat, maintaining biodiversity and keeping clean water sources, and play an extremely important role in protecting the water ecological health of the Yangtze River basin and maintaining the vitality of the Yangtze River.

Junfeng Gao, the technical director of the ecological assessment of Sihu Lake, a researcher and doctoral supervisor of Nanjing Institute of Geography and Lakes, Chinese Academy of Sciences, told The Paper that according to the assessment results, the current water ecological indexes of Dongting Lake and Poyang Lake are B-, Taihu Lake is C- and Chaohu Lake is D. That is, the water ecological health of Dongting Lake and Poyang Lake is in an upper-middle state, Taihu Lake is in an upper-middle state, and Chaohu Lake is in a lower-middle state. On the whole, the water ecological state of the four lakes is not optimistic, and the problems in Taihu Lake and Chaohu Lake are particularly serious.

Poyang Lake should be put in the first place in the differential treatment of the four lakes

As for how to harness the ecology of the Four Lakes, Junfeng Gao thinks that the protection and harness countermeasures are different because of the great differences in the natural geographical conditions, the influence degree of human activities and the water ecological problems faced by the Four Lakes.

He pointed out that the Dongting Lake basin should maintain the river-lake connectivity and the original hydrological rhythm of Tongjiang Lake, control the amount of pollutants entering the lake in the basin, strengthen the collection and treatment of urban domestic sewage, and control the agricultural non-point source pollution discharge. Poyang Lake basin should pay attention to the protection of biological species population and diversity, strengthen the protection of its habitat, and strictly supervise and manage nature reserves.

For Taihu Lake and Chaohu Lake, where the problem is particularly serious, it is also necessary to treat them differently. Junfeng Gao said that the Taihu Lake Basin should strengthen pollutant discharge control, control the total phosphorus flux into the lake, and strengthen the prevention and control of cyanobacteria bloom in the lake water. Chaohu Lake Basin should control the pollution of Nanfeihe River, Shiwuli River and Paihe River, strengthen the construction of urban environmental infrastructure in Hefei, improve the sewage collection rate and strengthen the level of nitrogen and phosphorus removal. Strengthen the prevention and control of cyanobacteria bloom in the lake area and establish a monitoring and early warning mechanism for cyanobacteria bloom in Chaohu Lake.

Among the four lakes, Junfeng Gao particularly emphasized the management of Poyang Lake. He said that Poyang Lake is the largest of the four lakes and is closely related to the main stream of the Yangtze River. Poyang Lake has rich ecosystem types, huge ecosystem service capacity, rich habitat types and biodiversity, and unique hydrological rhythm, which provides rich food and good food availability for various migratory birds. Its water ecological health quality has the most obvious effect on enhancing the vitality of the Yangtze River, so it is also the most important lake among the four lakes. The protection and restoration of Poyang Lake water ecology should be placed in the first place of the four lakes.　

New Year’s Eve： Traveling thousands of miles, just for this moment of reunion.

Happy new year’s eve

SPRING

FESTIVAL

New Year’s Eve is the last day of the China lunar calendar every year, and it is a day to get rid of the old and get new, and to have a family reunion. "divide" means to divide the old with the new, that is, to alternate; "Evening" originally means "sunset" and is extended to "night". "New Year’s Eve" means that the old year will be removed this evening, and the new year will be replaced tomorrow.

In Chinese’s mind, New Year’s Eve, as the most important day of the year, is celebrated by every household, welcoming relatives and friends and reuniting together.

Origin and custom of New Year’s Eve

"New Year’s Eve" originated from "banishment" in the pre-Qin period. At the end of each year in the Zhou and Qin dynasties, a ceremony of "exorcising" was held in the palace to beat drums to drive away the ghosts of plague, which was called "expelling". According to "Lu Chunqiu Ji Dong Ji", on the day before the New Year, the ancients beat drums to drive away the "ghost of epidemic disease". This is the origin of "New Year’s Eve". The earliest mention of the name "New Year’s Eve" is the book "Local Scenery" written by Zhou Chu in the Western Jin Dynasty.

The custom of New Year’s Eve is related to the legend of Nian. According to legend, in ancient times, there was a fierce beast called Nian. It is ferocious in appearance, ferocious in nature, and feeds on all kinds of animals. Nian haunts after dark and returns at dawn. At the end of each year, Nian will break into villages where people live in concentrated communities and hunt people and livestock, which makes people talk about Nian’s color change. People calculated the day when "Nian" was raging, and regarded this terrible night as a gateway, which was called "Nian Guan". After struggling with Nian for many years, people found that this beast was afraid of three things, red color, fire and noise. So on this day, people hung red mahogany boards on their doors, lit fires at the door, lit candles or oil lamps, and the whole family ate the "New Year’s Eve" together, staying up all night, knocking and beating, hoping to spend the "Year’s Eve" safely.

"Nian" broke into the village, saw every family with red and fire, heard the deafening noise, and ran back to the mountains in fear. As the night passed, people congratulated each other and celebrated the victory. At this time in winter, every family will stick red paper couplets on their doors, light lanterns, beat gongs and drums and set off firecrackers and fireworks. At night, vigil all night; The next day, I congratulated each other early in the morning. This has been handed down from generation to generation, and it has become a "New Year".

These customs have been passed down from generation to generation and become what we see today:

paste up Spring Festival couplets

The Spring Festival couplets originated from ancient peach symbols, and Ying Shao’s Customs and General Meaning and Zong Gu’s Chronicle of Jingchu’s Years are all loaded with peach symbols on New Year’s Eve. In the Song Dynasty, it was a common folk custom to hang peach symbols in the New Year. "Tokyo Dream of China Record" contains: "In recent years, the door gods, Zhong Kui, peach boards and peach symbols are printed and sold in the streets." Writing poems on Taofu, the legend began in Meng Chang of Shu after the Five Dynasties. The couplet he wrote, "New Year’s Eve in Qing Yu, Jiajie Day in Changchun", became the origin of Spring Festival couplets. Since the Ming Dynasty, people began to write couplets in red paper and post them on the portal on New Year’s Eve, completing the evolution from peach symbols to Spring Festival couplets, which were mainly used to express their aspirations, feelings and wishes, and became a popular New Year symbol with the function of welcoming auspicious and festive atmosphere of Naji.

stay up late or all night on New Year’s Eve

The ancients said that New Year’s Eve was "a night of double years, and even two years". Keeping the New Year’s Eve is one of the most important activities. Watching the New Year is the custom of staying up late to welcome the new year without sleeping on the last night of the old year, which is also called "endure the new year". The custom of observing the old age has a long history. The local customs in the Western Jin Dynasty said: "On New Year’s Eve, Da Dan didn’t sleep, which is called observing the old age." Keeping the old year, nostalgic for the old year and welcoming the new year, not only have nostalgia for the years that have passed away like water, but also have a good hope for the coming new year.

Eat new year’s eve dinner

As the highlight of New Year’s Eve, every household should prepare a sumptuous New Year’s Eve dinner, which symbolizes reunion, condenses the family’s affection and contains a unique taste of a family, also known as "reunion dinner" and "family fun". In the deep heart of Chinese, everyone has a table of family reunion dinner. On New Year’s Eve, northerners make jiaozi and southerners make rice cakes. Dumplings are shaped like "Yuanbao" and rice cakes sound like "Niangao", which are good signs of good luck. Because "fish" is homophonic with "Yu" and symbolizes auspiciousness, "no fish will make a meal", and on New Year’s Eve, the dish of fish can’t be finished, which means that there is more than enough every year.

Squeeze the age

When guarding the old age, the elders also give the younger generation lucky money. "Old" and "precious" are homophonic, and elders hope that lucky money can drive away evil spirits and avoid disasters, and bless children to grow up safely and healthily. The earliest "lucky money" appeared in the Han Dynasty, called "winning money". This kind of coin is not used for circulation, but a coin-shaped ornament for viewing and wearing. Auspicious words are generally cast on the front of "Winning Money", such as "Peace in the Four Seasons", "Good Travel" and "Happy Family". On the back, there are various patterns of folk auspicious animals and birds, such as dragon and phoenix, tortoise and snake, Pisces, sword fighting, stars, bats and deer. During the Spring Festival in the Song and Yuan Dynasties, elders would give children some copper coins to play with, in order to be safe and auspicious. This custom has always been popular. It was only in the Ming and Qing Dynasties that "lucky money" got its official name. Like Yu Pei, "lucky money" was worn as an ornament to ward off evil spirits and keep peace. In the Republic of China, the function of "lucky money" accessories to ward off evil spirits officially withdrew from the historical stage and was replaced by real money.

make dumplings

The most popular Spring Festival food in the north is jiaozi. Before the Song Dynasty, jiaozi was called a "corner" or a "water corner"; The name of "flat food" began in the Yuan Dynasty. Since the Ming and Qing Dynasties, the word "jiaozi" has been widely used. "jiaozi" is homophonic "Jiaozi", which means Jiaozi, symbolizing the arrival of the Spring Festival. On New Year’s Eve, when jiaozi is wrapped, people begin to cook jiaozi, making it the first meal of the New Year, also known as "jiaozi in the first day", which means "alternating the old with the new and making friends at a younger age".

New year’s eve poetry

Shou sui

Song Sushi

If you want to know how old you are, there are snakes that go to the valley.

The scaling is half gone, so who can cover it?

The situation wants to tie its tail, although it is diligent and helpless.

Children are forced not to sleep, and they are happy at night.

Don’t sing the morning chicken, but you are more afraid of adding trouble.

After sitting for a long time, the lights fell and I looked at the big dipper.

There will be no year next year, and my worries will be wasted.

Try your best to make it this evening, and the teenager can still boast.

Yuanri

Song Wang Anshi

The roar of firecrackers, the old one year has passed; The warm spring breeze came to the new year, and people drank happily the newly brewed tu su wine.

The rising sun sheds light on doors of each household, New peachwood charm is put up to replace the old.

Snow removal at night

Song luyou

At the beginning of the fourth day, the north wind brought a heavy snow; The auspicious snow that god has given us comes on new year’s eve, and signs a good harvest in the coming year.

Filled with half a cup of wine in the cup still before time to raise celebration, I still in the lamp with grass font to write to write the spring festival taofu.

Jia Yin’s Miscellaneous Books for the Night (Part III)

Ming Wen Zhiming

When people are busy on New Year’s Eve, I choose old poems by myself.

Mo Xiao scholar is too pedantic, and a year’s work is a literary word.

First trial: Xu Mengxian

Final review: Huang Xiaoru

Original title: "New Year’s Eve: Traveling thousands of miles, only for this moment of reunion"

Read the original text

Folk custom welcomes the Spring Festival ｜ The correct way to open New Year’s Eve.

　　Young people are known as ripe crops, and they are ripe every year, so they think they are old names.

　　New Year’s Eve is extremely important for Chinese. People who have been busy for a year have ushered in the reunion of their loved ones on this day, and at the same time, they are eating a sumptuous New Year’s Eve dinner and having a happy family.

　　New Year’s Eve, also known as New Year’s Eve, New Year’s Eve, New Year’s Eve and Big Dark Day, is the last night of the lunar year, that is, the night before the Spring Festival. Because New Year’s Eve often falls on the 29th or 30th day of the twelfth lunar month, it is also called New Year’s Eve. In 2024, New Year’s Eve falls on February 9th, and the 30th day of the twelfth lunar month is the last day of the lunar year.

　　Hundred years first, four seasons spring first. "New Year’s Eve" means that the old year will be removed this evening, and the new year will be replaced tomorrow. According to "Lu’s Winter in Spring and Autumn", the ancients used drums to drive away the "ghost of plague" on the day before the New Year, which is the origin of the "New Year’s Eve" festival. It is said that the earliest mention of the name "New Year’s Eve" is the historical records such as "Local Customs" written by Zhou Chu in the Western Jin Dynasty.

　　paste up Spring Festival couplets


The picture shows the Spring Festival couplets to welcome the New Year. Photo: Wu Lingxuan Source: People’s Daily Online

　　Spring Festival couplets are usually composed of a couplet and a horizontal batch, which is an important carrier and manifestation of Chinese Spring Festival folklore and the most representative language landscape during the Spring Festival. The neat and concise Spring Festival couplets express the people’s good wishes to ward off evil spirits and welcome the new year, adding a strong festive atmosphere to the Spring Festival and showing the unique charm of Chinese.

　　Burning firecracker


The picture shows firecrackers on New Year’s Eve. Photo: Wang Zhilin

　　During the Spring Festival, Spring Festival couplets and door gods are posted around the country to pray for blessings, and firecrackers are set off to drive away the "Year Beasts". People greet the New Year in the crisp and loud firecrackers.

　　lucky money


The picture shows the age-old red envelope Source: Zhongxin. com

　　Traditionally, during the Spring Festival, the red envelopes distributed by elders to the younger generation after 0: 00 pm on New Year’s Eve are called lucky money, which means to bring them blessings and good luck in the new year.

　　Eat new year’s eve dinner


The picture shows a sumptuous New Year’s Eve dinner Source: Xinhuanet

　　The annual flavor, grand and familiar, is deeply hidden in every ceremony in Chinese at the end of the year. New Year’s Eve, also called "Family Fun", is a family banquet that people attach great importance to. A family reunion banquet symbolizes auspiciousness, wealth, perfection and reunion.

　　Watch the Spring Festival Gala


The picture shows the 2023 Spring Festival Gala Source: CCTV

　　Watch the Spring Festival Evening and welcome the new year. This is Chinese’s unique romance on special days. In one program after another, people push cups for a change and laugh, and the new year is ushered in at 0: 00.

　　Longteng shengshi celebrates reunion, and auspicious things fly all over the sky on New Year’s Eve.

　　Dragon and tiger leap to welcome the new year and send wishes on New Year’s Eve.

　　At this moment of bidding farewell to the old and welcoming the new, I wish you a dragon and horse spirit to welcome the new year.

　　Tashildler!

　　(Tibet, China Net Comprehensive/Wang Zhilin)

American adults 60% overweight Asians are the healthiest.

Enter the [Chinese world] > >

　　　　CCTV.com News (broadcast by Chinese World on August 28th): Click to watch the video.







　　　　Sixty percent of American adults are overweight, and Asians are the healthiest.







　　　　59% of Asians are within the standard range.







　　　　This may be the difference in diet between Chinese and western food.


　　　　Ming Pao reported that "60% of American adults are overweight Asians are the healthiest". The results of this survey, promoted by the American health department, show that only 38% of Americans are normal, while 35% are overweight, 26% are obese, and 59% of Asians are within the standard range.

Editor: Yang Leisha

Comments on the management of Demax’s board of directors in the first half of 2023

() The business review of the Board of Directors in the first half of 2023 is as follows:

　　I. Main businesses of the Company during the reporting period

1, the development of the industry

The company’s industry is automobile parts and accessories manufacturing (C3660), which is greatly influenced by the automobile industry.

(1) Automobile production and sales maintain development resilience.

After the impact of the switch of promotion policies and the fluctuation of market prices in the first quarter, the domestic automobile market was driven by the central and local policies to promote consumption, the announcement on issues related to the implementation of the national six emission standards for automobiles, automobile marketing activities in many places, and the launch of a large number of new models by automobile companies. The semi-annual node impulse of superimposed automobile companies was relatively low compared with the same period in April and May of last year, and the market demand gradually recovered. In the first half of 2023, domestic automobile production and sales achieved a high growth. According to the statistics of China Automobile Industry Association, in the first half of 2023, domestic automobile production and sales totaled 13.248 million and 13.239 million, up 9.3% and 9.8% respectively.

Xu Haidong, deputy chief engineer of China Association of Automobile Manufacturers, said: "However, we should also see that the current external environment is still complicated, some structural problems are still outstanding, consumer demand is still insufficient, industry operation is still under great pressure, and there are still many challenges in business operation. It is necessary to maintain the stability and predictability of policies and help the industry run smoothly."

(2) China automobile industry has made new achievements, and opportunities and challenges coexist.

With the development of China market, China automobile industry has made continuous breakthroughs and made some achievements, but some difficulties, shortcomings and challenges have also been exposed in the development process. On the one hand, under the background of electrification, intelligence and digitalization, although the traditional competitive advantages of joint venture car companies still exist, their shortcomings are increasingly exposed, such as slow upgrading and low configuration compared with domestic car companies. According to the statistics of the Association, in the first half of 2023, the sales volume of some joint venture car companies in Chinese mainland declined collectively, while domestic independent brands rose rapidly, accounting for half of the country’s total. According to the list of Fortune Global 500 in 2023, according to the turnover, 24 car companies in the world were on the list, including 7 in China. According to the statistics of China Association of Automobile Manufacturers, the domestic vehicle exports reached 2.14 million, up 75.7% year-on-year. New energy vehicles exported 534,000 vehicles, up 1.6 times year-on-year. Japan Automobile Manufacturers Association announced that Japanese automobile exports in the same period were 2.02 million vehicles, and China’s automobile exports surpassed Japan for the first time in the first half of the year to become the world’s largest automobile exporter. According to the data of the National Bureau of Statistics, the investment in automobile manufacturing industry increased by 20% year-on-year in the first half of 2023, which was higher than the national fixed assets investment of 16.2%, indicating the future development potential of China automobile industry. On the other hand, in recent years, due to many factors, such as lack of core and expensive electricity, rising raw material prices, unbalanced profits in the industrial chain, withdrawal of subsidies and intensified competition, some domestic auto companies continue to lose money, and the profitability of enterprises has become the core problem for the sustainable development of China’s auto industry. The world situation is accelerating,Facing the complicated international environment and the development of domestic economic upgrading, China’s automobile industry has also put forward new requirements for transformation and upgrading, cost control and brand promotion. Traditional automobile giants have intensively announced electrification strategies and participated in competition, and the development of China’s automobile industry is facing new challenges.

2. Main business of the company

Demais is a high-tech enterprise with innovative ability, which focuses on the research and development, production and sales of precision shafts and precision cutting parts, and is committed to providing customers with high-quality products and integrated services throughout the process. The company’s main products are precision shafts and precision cutting parts, which are used in the window system, power system, body and chassis system of automobiles. In addition, some products are industrial precision parts, and "multi-variety, non-standard and customization" is the main feature of the company’s products. During the reporting period, the company’s main business has not changed.

3. Business model

The company adopts the business model of "fixed production by sales" and has an independent and complete procurement, production and sales system. After years of development, it has formed a complete and efficient model of raw material procurement, product production, new product development and sales.

4. Market position

As a leading enterprise in the market segment of precision shafts and precision cutting parts in China, Demax has actively digested and absorbed leading manufacturing technologies and processes at home and abroad, introduced advanced production equipment from abroad, and cooperated with universities in Industry-University-Research in many fields, thus meeting customers’ demands for high quality, short delivery time and multiple models. Demax has always paid attention to management, innovation and sustainable development, with a wide range of products, stable quality and strong supply capacity, and has continuously increased the proportion of new energy automobile parts. It has passed the certification of IATF16949 quality management system, ISO9001 quality management system, ISO14001 environmental management system and GB/T29490-2013 intellectual property management system. Demax adheres to the fine tradition of "concentration, professionalism and dedication", and has accumulated a series of core technologies through long-term independent research and development, covering the whole production process of major products. The core technology level is in the forefront of the industry, and the patents cover the fields of process development, technology development and equipment development. As of the disclosure date of this report, the company and its subsidiaries have 47 invention patents and 33 utility model patents.

Demax has established strategic cooperative relations with many world-renowned first-class supporting suppliers of large multinational auto parts. Over the years, we have obtained Bosch, Toyota, DENSO, Aisin Seiki, Valeo, borgwarner, mahle, Marelli, Fully recognized by world-renowned auto parts suppliers such as Vitesco Technologies, Schaeffler and Johnson Electric, among the top ten global auto parts suppliers in 2023, four chose to cooperate with Demais. Demax has strong market competitiveness and brand awareness in the field of precision shaft and precision cutting parts manufacturing, and has been rated as the fourth batch of national service-oriented manufacturing demonstration enterprises, national intellectual property demonstration enterprises and intelligent factories in Liaoning Province, and won the title of "Little Giant" in the second batch of national specialization and novelty. The company’s technology center has been awarded as Dalian municipal enterprise technology center and Liaoning provincial enterprise technology center, the company’s precision shaft advanced manufacturing engineering research center has been awarded as Dalian municipal engineering research center, and the company’s trademark has been awarded as a well-known trademark in China.

5. Performance drivers

(1) Industry prosperity

The company’s industry is auto parts and accessories manufacturing, and the industry prosperity is an important factor driving the company’s performance. The high industry prosperity and strong supply and demand can effectively promote the company’s performance. At present, the automobile and its parts industry is still the global industrial base. With the continuous improvement of the penetration rate of new energy vehicles, the competitiveness of China’s automobile industry chain has been continuously enhanced, and the industry will still maintain a high prosperity.

(2) Technology research and development

Technical progress is an indispensable performance driver for manufacturing enterprises. Demax has always paid attention to R&D and technical investment, and has always maintained a leading position in the industry. Patented technology covers the whole process of the company. In addition, the company also has a number of non-patented core technologies. In recent years, the company has continuously strengthened the construction of digitalization and intelligence, effectively improved the level of production technology and intelligence, and cooperated with relevant universities and enterprises to create "Smart Demeishi". Excellent technology is the guarantee of Demax’s good performance and the cornerstone of Demax’s rapid development in the future.

(3) Management level

Management progress is the key factor driving enterprise performance. Scientific management can effectively improve work efficiency, reduce costs, enhance enterprise cohesion, establish a good corporate image, win wide praise from customers and suppliers, and help companies seize the opportunity of industrial development, thus effectively improving business performance. Demais has continuously improved its management level, continuously improved its organization, system and system construction, and has a smooth work, with a number of provincial and municipal management progress achievements. Demais pays attention to continuous learning, introduces "amoeba management mode", summarizes advanced management knowledge and experience, strengthens talent echelon construction, develops ERP system, and strengthens digital construction to serve enterprise management decision-making. With the development of the company’s digital management platform, the company’s management level will be improved by leaps and bounds, thus promoting the high-quality and sustainable development of enterprises.

6. Operation during the reporting period

(1) Market and product development

During the reporting period, Demais dug deep into customer demand, tapped market potential, and actively explored new customers and new products. The sales revenue of Mitsubishi, stoba and Hangzhou Xinjian Electromechanical Transmission Co., Ltd. increased by 11.72%, 165.21% and 1,977.77% respectively. New orders in hand were 206.56 million yuan, of which 70.54 million yuan was used for new energy vehicle projects, accounting for 36.33%. At present, DeMashi has become Bosch, Schaeffler, Aisin Seiki, borgwarner, Marelli, Toyota Loom, Vitesco Technologies, Johnson Electric, Wandu Bose, LG, UMC, Honeycomb, Weishi Energy, Shenzhen Zhaowei, STABILUS and other customers provide spare parts related to new energy vehicles. According to the company’s understanding, the end users of new energy vehicle products include Tesla, (), Volkswagen, Toyota, Honda, Ideality, Weilai, Tucki, Xiaomi, Chang ‘an, Geely, Chery, Wuling Automobile and Wenjie Automobile.

During the reporting period, a) more than 50 mass-produced products were added, including 13 products for new energy vehicles, 9 products for automobile platforms and 2 products for non-automobile industries; Many new energy automobile products are finally used in LI and Xpeng Motors; One directional screw was finally used in Xiaomi car; Two wiper shafts are used in Chang ‘an pure electric vehicles; A hydrogen energy fuel cell air compressor part was used in Bosch hydrogen energy fuel cell electronic air compressor, and finally used in hydrogen energy commercial vehicles. During the reporting period, it was mass-produced with a contract value of about 7.6 million yuan.

B) 46 designated products were added, of which 2 electric vehicle axles were used in the second generation electric drive system of electric vehicles; A high-pressure pump device was finally used in SAIC-GM-Wuling plug-in hybrid vehicle; A high-pressure pump and plunger are finally used in the most advanced fuel injection system project of Changan Automobile Platform. A variety of brake system shafts are used in the 4th generation fully integrated pure electric vehicle drive platform project of Vitesco Technologies.

Among non-auto parts products, three types of pins are used in robot reducers; One motor shaft is used in high-end medical electric sickbed; The end users of various laser radar-driven motor shafts include Weilai Automobile, Xpeng Motors, etc. All the above products are in the fixed-point stage.

(2) Technology and process development

During the reporting period, the R&D expenditure was RMB16,497,700, up by 50.71% year-on-year, and the main achievements were as follows:

A) Automobile electronic power steering torsion bar: The torsion bar is one of the important parts of the automobile steering system, which is responsible for transmitting the steering torque and requires high product strength. By using quenched and tempered raw materials (heat treatment process), scientifically selecting cutting tools, optimizing machining parameters of machine tools, and adopting specific processes, Demais has finished product processing in hard material state, and successfully conquered shot blasting process (a surface treatment process).

B) Hollow drive shaft of new energy electric vehicle: this product is the core component of the motor system of new energy electric vehicle. This product is a hollow spline shaft with many processing elements, complex shape and high precision requirements, which requires high-precision processing technologies such as gear shaping, carburizing heat treatment, finishing after heat treatment and cylindrical grinding. Demais has carried out special research and tackled technical problems through equipment selection, fixture design, cutting tools and optimization of machining parameters of machine tools, which has met the needs of customers and been recognized by customers, and is currently in the fixed-point stage.

C) Direction adjusting lead screw: This product is the key part of electric adjustment of automobile steering wheel. By combining the experience of the original lead screw product and through a series of process research and development, Demax Inter-departmental Team has successfully solved the burr problem caused by intermittent cutting of product threads, and successfully developed the high-precision cross-rolling forming technology. At present, the project has passed the customer’s review.

D) New wiper shaft: This wiper shaft has a unique straight step design and fixed number of teeth, which puts forward higher requirements for machining accuracy.

Demax Technology Department has carried out special research, successfully completed product development and met customer technical standards through a series of process development and design of special tooling.

E) Gearbox mechanism shaft: This product is used in automobile gearbox mechanism. By optimizing the parameters of high-end CNC lathe and improving its own processing technology and fixture design, Demais has met the requirements of high-precision diameter, shape and position tolerance and roughness.

F) Electronic handbrake brake screw: This product is one of the important components in the automobile braking system, and it is responsible for transmitting the braking signal to make the automobile braking system generate braking force. Demais solved the problem of high-precision screw processing through technical research; According to the characteristics of screw rod, a special fixture was designed to solve the problem of long step machining of screw rod, and the product was recognized by customers.

G) Further improvement of equipment automation level: During the reporting period, the engineering R&D department of the company gave full play to the role of equipment by rationally allocating and transforming equipment and setting up automatic production lines, so as to achieve the effects of process connection, further reducing comprehensive cost and improving production efficiency, and completed the design and transformation of more than 50 equipment in 18 projects, including automatic loading and unloading, online detection, online compensation, automatic production line and single machine automation (including projects under installation and debugging), among which automatic full inspection machines were successfully developed. Through the projection image measurement technology, the equipment can automatically identify the product direction and automatically separate the defective products, which can further save the labor cost of the company’s product inspection and improve the product inspection efficiency.

(3) Production and quality control

During the reporting period, the company took the following measures to further promote lean production level, reduce costs and increase efficiency, and improve production efficiency:

A) Multi-dimensional deepening of quality improvement and cost reduction achievements

During the reporting period, the cost control center set up a number of project teams, among which the informatization team used the company’s digital platform to provide system and big data support, and the production department, technical department, quality department and other relevant departments worked together to set core indicators for key products, effectively improving production efficiency and product qualification rate by optimizing production rhythm, improving processing technology, optimizing machine accessories, introducing automation transformation and special technical training, and successfully improving the qualification rate of more than 40 key products; The Planning Department optimizes the existing cost analysis mode, and further strengthens the cost control through target decomposition, supplier assessment, supplier direct supply/substitution, etc. Among them, the cost control of auxiliary materials for tools and drills has achieved certain results, and the supplier management has achieved remarkable results.

B) optimize the management mode.

In June, 2023, the company introduced the "Amoeba Management Mode", in order to improve the overall efficiency by optimizing business processes, redefining responsibilities and rights after combing production workshop processes, giving full play to employees’ subjective initiative, stimulating employees’ teamwork ability and innovative spirit, further comprehensively reducing and optimizing operating costs.

C) Take measures to improve production efficiency.

During the reporting period, the production capacity of key products was improved, the process was optimized, the quality was improved and the cost was reduced through measures such as debugging and processing of key processes by special personnel; Set up a sample center and an inter-departmental team to improve the efficiency of production organization by scientifically arranging pre-investment and delivery plans and optimizing production rhythm based on product characteristics and technology; Improve the layout of multiple workshops and comprehensively improve the efficiency of production and operation.

(4) Smart factories

A) digital platform project

The company accelerates the construction of digital platform and builds a smart factory with high efficiency, high quality and low operating cost. The company cooperates with the Artificial Intelligence Research Institute of Dalian University of Technology and Dalian Angel Technology Co., Ltd. to design and develop a brand-new digital platform. The digital platform adopts the development mode of pilot follow-up, iterative development, summary and improvement, and comprehensive roll-out, so as to create a digital platform with the mode of inheritance, sustainable development and testing while developing, fully digitize the company’s business processes, make management transparent, digital and visual, and facilitate the management team to control the overall situation and formulate corresponding solutions anytime and anywhere; Let employees clearly understand their daily work tasks, and the work results are more intuitive; Let the relevant parties of the company know the business progress with Demex in a timely and convenient way.

During the reporting period, Demax completed the sorting and optimization of the overall business process of the digital platform system, established a more comprehensive information and data association, optimized the operation convenience of the business process on the digital platform, and provided more flexible data query and other functions; Discuss and cooperate with operators to build a 5G private network scheme to ensure the stability and responsiveness of the internal basic network environment after the company builds a digital platform; The data acquisition project has completed the investigation of more than ten data acquisition service providers, and explored the data acquisition scheme suitable for the company. At present, it has entered the stage of scheme review and on-site trial mining, and built the company’s Internet of Things platform to further improve the intelligent manufacturing level of enterprises. In view of the fact that there is no mature intelligent scheduling solution for discrete manufacturing enterprises in China at present, Demais decided to design the intelligent scheduling solution independently and complete the scheme development work together with the software company, and has initially completed the scheme framework design.

B) intelligent warehousing project

The company has established an intelligent storage system, which uses intelligent vision recognition forklift and narrow lane three-way unmanned forklift to complete the tasks of product connection, handling, entry and exit, and introduces the dispatching system and warehouse management system of unmanned forklift. During the reporting period, after more than half a year’s trial operation, the intelligent warehousing system has continuously optimized the working logic and the forking action of the unmanned forklift, effectively improving the operating efficiency of the system. At present, the overall operation of the project is in good condition.

(5) Strengthen the construction of internal control system and the management of investor relations.

A) The company continuously promotes enterprises in accordance with the regulatory laws, regulations and systems of China Securities Regulatory Commission and Shenzhen Stock Exchange on the standardized operation of listed companies.

Industry governance ability, improve the company’s various rules and regulations and internal control system, strive to build a more scientific, efficient and reasonable management decision-making system, improve the internal control system, and strengthen the company’s organizational management ability.

During the reporting period, according to the latest requirements of the regulatory authorities and the changes in the actual situation of the company, the company further improved the internal control system, formulated the Management System for Share Repurchase, the Internal Control and Information Disclosure System for Derivatives Investment, the File Management System for Investor Relations, the Management System for Submission and Use of External Information, and revised the Accountability System for Major Errors in Information Disclosure of Annual Reports, the Work System for Independent Directors and the Management System for Directors, Supervisors and Senior Managers Holding Company Shares and Their Changes. Continue to strengthen the supervision of the Internal Audit Department on the implementation of the company’s internal control system, improve the depth and breadth of internal audit work, and put forward clear audit suggestions and urge them to improve according to the problems found in the process of walking through and checking. Further enhance the awareness of risk prevention of directors, supervisors, senior managers and relevant middle managers, improve the awareness of compliance management, strengthen the awareness and responsibility of internal control of the board of directors and key positions, effectively promote the standardized operation of the company and the continuous improvement of its governance mechanism, and promote the healthy and sustainable development of the company.

B) The company implements the core concept of Investor Relations Management System, attaches importance to investor relations management, and exchanges information through telephone and Shenzhen Stock Exchange.

Keep good daily communication with investors through various channels such as Dongyi. During the reporting period, the company held the "2022 Online Performance Briefing" to interact with investors and answer their concerns. Among them, the response rate of interactive investors’ questions was 100%, and investors’ surveys were received many times, which improved the quality of company information disclosure in multiple dimensions, further increased the transparency and standardization of the company and effectively protected the rights and interests of small and medium investors.

6. Carry out in-depth and sustained cooperation in Industry-University-Research.

Demais pays attention to Industry-University-Research cooperation, establishes enterprise engineering research center, makes full use of scientific research and teachers in colleges and universities, gives full play to the advantages of the company’s equipment, technology and technology, combines the strong and powerful, promotes the development progress of key projects, and digs deep into cutting-edge technologies to promote the company’s technological upgrading. During the reporting period, the main achievements are as follows:

(1) Apply for the project of Intelligent Manufacturing of Key Axles of Power System of New Energy Vehicles, a special fund for regional coordinated development in Liaoning Province in 2023.

The project makes full use of the technology of "Industrial internet plus Intelligent Manufacturing". After the completion of the project, the intelligent manufacturing level of key shaft parts of the power system of Demax new energy vehicle will be greatly improved, and the industrialization of motor spindle and gearbox gear of new energy vehicle will be realized.

(2) Demais signed a cooperation agreement with the School of Mechanical Engineering of Dalian University of Technology in Industry-University-Research, and participated in the transformation project "Special Equipment for Hot-air Forming of Metal Thin-walled Special-shaped Components" in Liaoning Province in 2023, which is being promoted in an orderly manner.

7. Subsidiaries enter the ranks of first-class supporting suppliers for automobiles.

During the reporting period, subsidiary Jinhua De set up a PBS workshop after purchasing equipment. As of the disclosure date of this report, Jinhua De has signed the Framework Agreement/Purchase Contract with Volkswagen FAW Engine (Dalian) Co., Ltd., Jaguar Land Rover and BMTS (Boma Technology) respectively to supply automobile parts and components such as balancer main shaft, balancer unit, turbocharger parts, sprocket assembly, intake/exhaust shaft sleeve, etc. as agreed. At present, it has sold products directly to the vehicle manufacturers Volkswagen FAW and Jaguar Land Rover, and indirectly to Shanghai General Motors. The company expanded its product range, from auto parts to auto parts and components, and entered the ranks of first-class supporting suppliers of automobiles, further enhancing the company’s comprehensive competitive strength. In the future, the company will continue to deepen the field of auto parts and components, actively develop new products, and take this opportunity to open up more OEM customers.

8. Future product planning

Maintain the steady growth of traditional business, increase the market share of products, and further consolidate and consolidate Demax’s leading position in existing superior products; Build a matrix organizational structure management model based on project management, further strengthen the development of new energy vehicles (hydrogen-containing energy vehicles) products and customers, focus on the layout of new energy vehicle motor systems, thermal management systems and driverless fields, and increase the development of new energy vehicle motor shafts, toothed shafts and hydrogen energy vehicle parts; Actively explore new fields, based on the long-term precipitation of Demax’s specialized and precise parts, use the advantages of precision machining technology and sophisticated equipment, increase the layout of shafts and precision cutting parts in various robot transmission and drive systems, and strengthen the development of industrial products such as machine tool servo systems and reducers.

Second, the core competitiveness analysis

Demais adheres to the fine tradition of "professionalism, dedication and concentration". Since its establishment, Demais has been deeply involved in the field of precision parts processing focusing on precision shafts and precision cutting parts, and its core management team and key technicians are stable. The core management team is diligent and dedicated, with rich industry experience and enterprise management experience, strong execution and keen market responsiveness; Key technical personnel make great efforts to continuously promote and upgrade the company’s technological progress. After years of management and technology accumulation, Demax has formed core competitive advantages in the field of precision shafts and precision parts, such as leading technology, stable quality, excellent equipment, well-known brand and large-scale production, thus promoting the company’s sustained, stable and rapid development.

1. Leading technology

Since its establishment, Demais has always paid attention to technical research and process improvement, adhered to the concept of "leading technology and technological innovation", and has strong technical development and innovation capabilities. In cooperation with well-known customers around the world, we keep abreast of the latest technical standards in the industry and establish a perfect product testing technology and evaluation system. The company increased investment in R&D by cultivating and attracting outstanding technical talents and purchasing advanced machinery and equipment, and maintained its dominant position in technology research and development. In the long-term development process, the production technology level of the company’s products has been greatly improved, and the production equipment has been automatically transformed, repeatedly transformed and re-developed, and equipped with self-developed software, which has greatly improved the production efficiency and intelligence level of the equipment. The production equipment transformed by the company can realize the functions of automatic identification, online detection, online feedback, automatic compensation, automatic loading and unloading, automatic processing, automatic data recording, etc., further reducing costs and increasing efficiency, improving the company’s intelligent level, and the technology is at the advanced level in the industry.

During the reporting period, the company and its subsidiaries filed 3 patents, including 2 invention patents and 1 utility model patent; Nine patents were granted, including three inventions and six utility model patents. As of the disclosure date of this report, the company and its subsidiaries have 47 invention patents, 33 utility model patents and 24 software copyrights, covering the fields of process development, technology development and equipment development.

2, the quality is stable

The quality of automobile parts is related to personal safety, and there are high standards and requirements for the quality, performance and safety of products. In particular, enterprises that manufacture such products must carry out stricter inspection and control on the quality of products. At the system operation level, the company passed the general IATF16949:2016 quality management system certification in the automobile industry and passed the ISO9001 quality management system certification; At the level of system construction, the company has formulated standard business processes and operation manuals, and used quality management tools for daily quality control according to the requirements of the quality management system; On the operational flow level, the company implements barcode management and builds a digital platform, which can carry out strict batch management of products and realize functions such as visual data and full information traceability. In terms of testing equipment, the company has high-precision testing equipment such as Zeiss, Sanfeng CMM and Mal image measuring instrument to monitor the process quality. In terms of employees’ professional skills, in addition to organizing regular/irregular internal special trainings, external quality trainings such as VDA6.3 (German Automobile Industry Quality Standard-Process Audit), P-FEMA (Process Failure Mode and Consequence Analysis) and CQI-9 (Heat Treatment System Evaluation) are carried out to improve the professional level of quality managers and enhance the quality awareness of operators. The company’s stable and reliable product quality has been fully recognized by customers, laying a solid foundation for market development.

3. Excellent equipment

While actively transforming the original equipment, the company pays attention to the advanced technological process of the global auto parts manufacturing industry, constantly updates sophisticated equipment, and purchases dozens of advanced equipment such as Tornos eight-station combined lathes in Switzerland, six-station and eight-station CNC lathes in Germany, and Mykrosa unintentional cutting grinder in Germany, which has the characteristics of high precision, high speed and high reliability, and is at the international leading level in the industry, effectively enhancing the company’s comprehensive strength.

4. Well-known brand

After years of market development and cultivation, the company has a stable customer base and established long-term and stable cooperative relations with many world-renowned auto parts suppliers. The products are sold to North America, Europe, Japan and other countries and regions. Among the top ten global auto parts suppliers in 2023, four chose to cooperate with Demax. The company has won many honors, such as global supplier award, annual innovative supplier, excellent supplier, preferred supplier and quality excellence award in the Asia-Pacific region, etc., and enjoys high popularity and good reputation in the same industry. The registered trademark of the company was awarded as a well-known trademark in China. On the one hand, brand effect enhances the influence of products and the strength of the company, attracts more customer resources, on the other hand, it also brings lasting and stable benefits to the company.

5. Mass production

The auto parts industry is a capital-intensive industry, with a relatively high degree of marketization and fierce competition. Vehicle manufacturers and first-class parts suppliers have higher requirements for the quality stability and timeliness of qualified suppliers. The company has the strength to undertake large orders and respond quickly, and has strong competitiveness in the industry.

Iii. Risks faced by the Company and Countermeasures

1. Risks faced by the company:

There may be risks in operation, product quality control, finance and equity dispersion in the company’s operation.

(1) Operational risks

A) risk of macroeconomic fluctuation

The company’s main products are precision shafts and precision cutting parts, and its downstream fields are mainly automobile parts industry. The demand of downstream industries is closely related to the macro-economy. The periodic fluctuations of international and domestic macro-economy and the changes in consumption capacity and consumption demand caused by unexpected events will have an impact on the products produced and sold by the company. If the macro-economy continues to deteriorate, the economy will decline, the downstream automobile industry of the company will be depressed or major adverse changes will occur, which will have an adverse impact on the company’s production and operation.

B) Risk of price fluctuation of main raw materials

The main raw material for the company’s production is steel, and the price change of steel is one of the main factors for the company’s production cost change. With the increase of the company’s sales revenue, the actual consumption of steel is also increasing. If the steel price continues to fluctuate greatly in the future, it will directly affect the company’s production cost and gross profit margin. If the product price cannot be adjusted or taken in time, it will affect the company’s performance.

C) Risk of decline in production and sales of automobile industry

The decline of production and sales in the automobile industry has a great impact on the automobile parts industry. For example, if the production and sales of automobiles decline in the future, the company’s order demand may face fluctuations, which will have a negative impact on the company’s production and operation.

(2) Product quality control risk

The company’s main customers are internationally renowned auto parts suppliers, and customers have strict requirements on the quality of products. If the company’s product quality problems cause losses to end customers, it may lead to the risk of paying back the claims to customers or even terminating the cooperation relationship, which will have a significant adverse impact on the company’s business development.

(3) Financial risks

A) Risk of bad debts in accounts receivable

By the end of the reporting period, the company’s balance of accounts receivable was 183,286,600 yuan, accounting for 62.89% of the current operating income. Most of the company’s customers are large-scale auto parts suppliers with strong strength and long-term cooperative relationship, with good capital status, high credit rating and low risk of bad debts. The company has made corresponding bad debt reserves in accordance with accounting standards. With the expansion of the company’s future business scale and the increase in the number of customers, the risk of bad debts of accounts receivable caused by the deterioration of the financial situation of individual customers or poor management of accounts receivable of the company cannot be ruled out.

B) risk of inventory impairment

As of the end of the reporting period, the company’s inventory balance was 114,344,500 yuan, and the company’s main inventory has corresponding orders or production plans. However, if the customer’s order demand cannot be met due to factors such as product quality and delivery cycle, or the customer adjusts or cancels the order due to fluctuations in the downstream market demand of the products, the company’s products may not be sold normally, which will lead to the loss of inventory, which will adversely affect the company’s operation.

C) exchange risk

During the reporting period, the export income accounted for 31.92% of the main business income, and part of the company’s production equipment and raw materials were purchased from abroad.

At the same time, the company’s customers are mainly well-known suppliers in the global auto parts industry, while foreign customers and suppliers and companies generally use foreign currency for settlement. If the exchange rate of foreign currency against RMB fluctuates greatly, it will have a certain impact on the company’s operating performance.

D) risk of impairment of goodwill

In October 2018, the company acquired the remaining 77.5% equity of Jinhua De, and Jinhua De became a wholly-owned subsidiary of the company. At the end of the reporting period, the amount of goodwill confirmed by the company due to the acquisition was RMB 50,744,100. If Jinhua De’s operation can’t realize the income well in the future, the goodwill formed by the acquisition of Jinhua De’s equity will have the risk of impairment, which will adversely affect the company’s operating performance.

(4) the risk of equity diversification

The company’s equity is relatively scattered, and the controlling shareholder Demex Investment holds 16.73% of the shares, so there is a risk that the controlling stake will be unstable. If the control right changes, it may have a certain impact on the company’s business or management.

2. In view of possible risks, the Company has taken and plans to take countermeasures:

(1) Building "Wisdom and Virtue"

Demais will further strengthen digital and intelligent investment and realize the transformation from manufacturing to intelligent manufacturing as soon as possible; Optimize the company’s technology and production process, introduce advanced equipment at home and abroad, transform equipment to improve automation level, improve production efficiency, reduce redundant personnel, build a smart factory with high quality, high efficiency and low operating cost, and ensure the company’s dominant position in industry competition.

(2) Strengthen product competitiveness and increase customer development.

Demax has always adhered to the core business philosophy of "all customer needs are the center", taking customers as the guide, strengthening customer management, enhancing customer stickiness with products with better product quality and service and more cost-effective advantages, and further consolidating and developing the strategic cooperative relationship with customers; Through continuous process improvement and perfection of existing products, the technical performance of products is improved; Actively track the competitive situation of the industry, grasp the wind direction of the industry, and flexibly adjust the market competition strategy and management strategy; Through technological innovation and advantages, we will improve the joint development capacity and production capacity of new products, continue to strengthen the development and follow-up of customers’ new energy auto parts business, actively expand the application fields of products and gain new profit growth points.

(3) Strengthen the efforts to control fees and reduce costs.

Relying on the cost control center, we will continue to deepen the achievements of improving quality, reducing costs and increasing efficiency through effective management measures such as cost consumption control, cost control in production and operation process and quality cost control, and continuously improve the profitability and cost control ability of enterprises; By combining the advantages of bank credit promotion with the characteristics of procurement and sales, we can further control costs with customers and suppliers of the company in a win-win situation; Reduce raw material costs by strengthening diversified and closer strategic cooperation with raw material suppliers and integrating raw material categories; Continuously improve the level of lean management and optimize and improve the operation in a whole chain and system.

(4) Promote the company’s management level to a new level.

Formulate long-term and short-term performance incentive assessment systems, systems and schemes, so that the company’s management and core employees can share the dividends of the company’s performance growth; Strengthen the talent echelon construction of company executives and middle-level cadres, and encourage and support the introduction of more young and capable employees into the core decision-making and executive levels; Promote and encourage the company’s senior executives and core employees to strengthen exchanges and study with the outside world, broaden their eyes, learn from advanced management models, and promote the company’s high-quality sustainable development.

(5) Improve the R&D system and consolidate the technological strength.

Further establish and improve the technological innovation mechanism, actively participate in the joint development system of customers’ products, carry out forward-looking development of technical routes, and continuously improve the product development capability, the manufacturing capability of complex process precision parts, the proportion of high value-added products, and the product yield; Create a good R&D mechanism and innovative atmosphere, strengthen cooperation in Industry-University-Research, strive to recruit and introduce talents to build a high-level R&D team, and form a professional technical R&D echelon in the field of precision shafts and precision cutting parts; Continuously optimize production technology, greatly improve production efficiency, enrich product lines, and develop new key products, so as to further expand market share and reduce production costs with the advantages of centralized large-scale production.

(6) Enhance the ability to cope with exchange rate risks.

Proceeding from the business objectives and overall business layout, the Company has continuously improved the exchange rate risk management system, selected more favorable settlement methods and settlement time points, prevented exchange rate risks by using derivative financial instruments, timely tracking and mastering exchange rate fluctuations, and strengthened cooperation with financial institutions such as banks, so as to enhance the sensitivity and response ability to exchange rate changes.

(7) Make Demaishi bigger and stronger

In order to smoothly implement the company’s future development plan and objectives, the company will further obtain financial support through bank loans, financial leasing, issuance of corporate bonds, shares and other financing methods. If the conditions are ripe in the future development process, it is not excluded to expand the production scale, acquire advanced technology and increase sales channels through overseas acquisitions, so as to further enhance the cooperation level between the company and large auto parts enterprises in a short time and increase the comprehensive competitiveness of the company.

(8) Maintain the stability of the company’s control rights in the future.

The controlling shareholder, actual controller, more than 5% shareholders and four non-independent directors who are senior managers of the company have issued relevant commitments to maintain the stability of the company’s control rights in the future.

How to build high-standard farmland？ Ministry of Agriculture and Rural Affairs： Making efforts from four aspects

Guang Defu, spokesperson and director of the general office of the Ministry of Agriculture and Rural Affairs (photo by Liu Jian)

Guang Defu, spokesperson and director of the general office of the Ministry of Agriculture and Rural Affairs (photo by Liu Jian)

　　CCTV News:The State Council Information Office held a routine briefing on the State Council policy on the morning of 25th, introducing the Opinions of General Office of the State Council on Strengthening the Construction of High-standard Farmland to Enhance the National Food Security Capacity (hereinafter referred to as "Opinions"). Guang Defu, spokesperson and director of the general office of the Ministry of Agriculture and Rural Affairs, answered questions from reporters on how to give full play to the working mechanism of central planning, overall responsibility of provinces, implementation by cities and counties, and mass participation in the construction of high-standard farmland.

　　Guang Defu introduced that farmland construction needs the joint efforts of all levels and departments, and at the same time, it is necessary to actively mobilize the enthusiasm of the people in the project area. Only in this way can the benefits of high-standard farmland construction be better brought into play. Mainly from four aspects:

　　First, strengthen organizational leadership. It is necessary to improve the working mechanism in which the top leaders of provincial governments take overall responsibility and the leaders in charge are directly responsible, and do a good job in overall planning, task implementation, fund guarantee, supervision and evaluation, and post-construction management and protection. It is necessary to speed up the task decomposition and compact the responsibilities layer by layer.

　　The second is to further strengthen the regular scheduling of farmland construction projects. According to the climatic conditions, agricultural production and engineering construction cycle, strictly implement the regular scheduling system, timely analyze and judge the construction progress, and adopt notification, interview and on-site supervision to promote the completion of annual tasks.

　　The third is to strictly implement the evaluation and incentive measures for high-standard farmland construction. Combined with the assessment of the governor’s responsibility system for food security, we will carry out comprehensive evaluation on the completion of tasks, capital investment, post-construction management and protection, and implement rewards and punishments.

　　The fourth is to do a good job in coordination and promote the formation of synergy. The agricultural and rural departments should fully perform the responsibilities of centralized and unified management of farmland construction, and the relevant departments such as development and reform, finance, natural resources, water conservancy, People’s Bank of China, banking and insurance supervision should cooperate closely in accordance with the division of responsibilities, do a good job in planning guidance, capital investment, approval of new cultivated land, utilization and management of water resources, financial support, etc., and jointly promote the construction of high-standard farmland. At the same time, we should sum up and popularize good experiences and practices in time, give full play to the role of the media, strengthen public opinion propaganda, and create a good public opinion atmosphere.