Lead: Business has always been an important part of human society. There were many outstanding business figures in ancient China, but they were rarely known by the world. In order to summarize these business wisdom from ancient ancestors and enlighten the present, Lishi Business Think Tank has planned a series of "Business People in China’s Ancient Business History" for readers. This issue shares the financial magnate Wuyan who made a profit through the investment war in the Western Han Dynasty.

Liu Liping | Author Lishi Business Think Tank | Produced by

War is a matter that consumes human life and money. The former is the so-called "one will make a great effort and ten thousand bones will wither away", "poor bones along the river are still in a dream", and the latter is what Sun Tzu said in the Art of War: "Take a hundred thousand armour and feed food thousands of miles away". If more than one hundred thousand soldiers are used, they will be transported thousands of miles away, and there are also "internal and external expenses, guests’ use and glue.

In a word, fighting is a costly thing.

This is already a common sense.

However, we may not realize that the economic cost of war is not only paid by the state, but also by individuals. The personal contribution mentioned here is not to pay taxes for the country to use in the war, but as an individual, he should buy his own military supplies and use his own money to go to the battlefield.

This is actually in ancient China and foreign countries.

There is another point that many people may not realize. In ancient times, there were financial lending institutions that profited from the war and made huge profits.

What’s going on? Let’s take a look at the financial industry of the ancient investment war by resuming the chaos of the seven countries in the Western Han Dynasty.

one

The governors of the Western Han Dynasty dared to rebel because of money.

As we all know, since Qin Shihuang, China has implemented the county system, depriving the sons and grandsons of the right to hereditary territory and titles, and the political pattern of feudal society in China, as well as the central and local patterns, has been determined.

However, history is moving forward in a roundabout rhythm, moving forward, retreating a little, and moving forward again.

The Qin Dynasty was short-lived. Many people think that it was because Qin Shihuang implemented a thorough county system and did not set up descendants as vassals as barriers. So after the establishment of the Western Han Dynasty, in addition to continuing the county system established by the Qin Dynasty, it was still mixed with the vassal system, and Liu Bang enfeoffed his sons and nephews to become princes everywhere, forming a pattern in which the county system and the enfeoffment system crossed.

Liu Bang was uneasy about this situation in his heart. For example, when he made his nephew Liu Bi the king of Wu, he saw that Liu Bi was strong and couldn’t help feeling a twinge in his heart, so he stroked Liu Bi’s head and said, "Your boy must be loyal to my big fellow, and there must be no infidelity." Liu Bi was also frightened and trembling by this uncle who killed the snake uprising and put down the overlord, and said, "I will obey you."

With Liu Bang gone, it is not necessary to obey.

With the passage of time, the honeymoon period of the county system and the enfeoffment system passed quickly, and two different blood types could not coexist in the body of a dynasty and began to repel each other.

By the time of Emperor Wen of the Han Dynasty, Jia Yi, a famous scholar, urged the emperor to end the system of enfeoffment.

When Emperor Han Jingdi arrived, Chao Cuo, the minister, explicitly proposed to cut the vassal.

Thus, in 154 BC, the contradiction between the imperial court and the princes was irreconcilable. Headed by Liu Bi, the king of Wu, the king of Chu, the king of Zhao, the king of Jinan, the king of Zichuan, the king of Jiaoxi and the king of Jiaodong, they launched a rebellion in the name of "Qingjun side".

On the surface, the rebellion of the seven countries was to kill Chao Cuo, and Emperor Han Jing really believed it and killed Chao Cuo. However, the rebellion did not stop. It turned out that all the governors wanted not Chao Cuo’s life, but the life of the Han Dynasty.

I don’t need to repeat too much about the process and ending of the war. It only took more than three months, and the rebellion of the Seven Kingdoms was quelled by Zhou Yafu. Since then, the governors of the Han Dynasty no longer have the ability to confront the central dynasty by force.

The angle we cut in is the economic angle.

When the rebellion just started, how did the wealth and power of the two sides compare?

Everyone must be familiar with Emperor Han Jingdi’s side. It was the prosperous time of the rule of Wenjing. It is said that the grain in the treasury rotted into red, and the money strings were scattered, but they were not used.

And the vassal state side, do you think it is very weak?

Not only not weak, but even stronger than the central dynasty.

The State of Wu under the rule of the King of Wu, Liu Ying, was a giant consortium, which not only had a lot of money, but also implemented a wartime economic system.

The biggest advantage is that the prince of Wu has mines at home.

Yuzhang County, within the jurisdiction of Liu Bi, has a huge copper mountain, which can be used to cast coins; On the east side of the jurisdiction, there is a boundless sea where salt can be boiled.

There is money and salt, and there is no need to pay taxes.

Under this innate advantage, Wu was fully capable of waging war with the Central Committee of the Han Dynasty, and the advantage lay in Wu.

Liu Bi also attaches great importance to the welfare in China. The people live a good life and enjoy extra care. Once the local people are recruited by the central government for military service, the local government of Wu will also pay the employment fee for these people. One person is serving in the military service for the government, so the whole family life need not worry.

The imperial court recruited soldiers, and the local government gave them living expenses. It was clear that it was to buy the hearts of local people.

There are rich mountains, salt seas, manpower, people’s hearts, and princes fighting against the imperial court. The odds are really great. I really don’t know how to write the history of the national movement of the Western Han Dynasty if it weren’t for the military genius Zhou Yafu left by God.

On Wu’s side, the king of Wu paid the bill for participating in the rebel war.

On the central side of the Western Han Dynasty, those who fought had to buy equipment from their own pockets.

What’s more, major financial institutions in Chang ‘an City are reluctant to lend because they are bearish on the war prospect of the central dynasty.

What should Chang ‘an government do next?

two

In the case of sparing loans, how did the Western Han military get out of the predicament?

Re-examine the situation in Chang ‘an before the war.

It can be said that people are in a panic. The financial industry is a barometer of politics and military affairs. At that time, the financial institutions in Chang ‘an basically refused to give it to the "Central Army" of the Han Dynasty because they thought the chances of winning were too low.

"Biography of Huo Zhi" in Historical Records records: "Zi Qianjia thought that Hou Yi’s country was in Kanto, and the success or failure of Kanto was undecided, so he refused to cooperate."

The so-called sub-money family is the kind of lending institution and folk. They thought that the vassal state was east of Chang ‘an, and the success or failure was uncertain at that time, so they refused to lend.

Who will you lend it to?

To those who went to the front to fight.

These liehou ancestors got some enfeoffment because they worked for the Han Dynasty, mostly in the form of land. In return, liehou had to provide their own equipment, buy their own weapons and pommel horses and go to the front at their own expense when the country had military operations.

This situation existed in ancient China and abroad.

For example, "Mulan Ci" said: "The east market buys horses, the west market buys saddles, the south market buys bridles and the north market buys whips." Before Mulan joined the army, she bought equipment all over the market, and probably went to the front at her own expense.

Another example is Dumas’ novel The Three Musketeers. The French cardinal launched a war against Spain, and the members of the King’s Musketeers had to prepare their own armor, horses, knives and guns and follow the cardinal to the battlefield. One of them had to please the ladies and borrow money because he was short of money.

This is the situation faced by the Western Han Dynasty.

The assets given by the imperial court are either idle or gambled away, and maybe some of them are still negative assets.

It is necessary to serve the court. But you can’t go to the battlefield on foot with a bamboo pole with bare arms.

They first thought of loans, and maybe they are already frequent customers of these financial lending institutions.

However, all over Chang ‘an, financial institutions are either closed or pushed. Sorry, we financial predators are not optimistic about the war prospects of the imperial court, so we can’t borrow this money.

At this time, the strong men of the Western Han Dynasty were in a desperate situation.

The cross-flow of the sea shows the true colors of heroes and financial institutions.

I am greedy when others are afraid.

This greedy financial institution finally came out. At that time, it was not a financial crocodile, but it was ambitious.

The boss of this financial institution, surnamed Wu Yan, put up a signboard and was willing to lend money to the soldiers who were about to go to the front.

Soon, the empty-handed Hou people rushed in.

The Wuyan family made a written statement with the heroes who were about to go out, and the money was immediately available, but there was a harsh condition, that is, the interest was ten times.

"Its interest rate is ten."

It’s a total usury.

However, without thinking about it, the Hou immediately took money and bought brand-new equipment, and went to the front line without hesitation.

The so-called ten times interest rate is not a threat to them at all.

Because there are only two endings.

One is to die, and people don’t have to pay their debts when they die.

First, victory, once there is a trophy, this interest of ten times can only be described as "mere".

And there are only two endings of salt-free financial institutions.

First, defeat, defeat is defeat, nothing more than losing all one’s money, and the imperial court and country will be lost. What is there to say?

One is victory. Needless to say, we have everything.

The nature of capital is profit-loving, aggressive and adventurous.

Let the capital fight with the soldiers of the crusade.

three

Borrowing capital gained ten times in the war of seven countries.

The Seven Kingdoms Rebellion in 154 AD eventually became a large-scale dying struggle of local governors. The Han Dynasty continued its life for more than a hundred years, and the supreme military commander of the imperial court, Zhou Yafu, must be the most grateful person in the world. He used Han Jingdi’s uncle Liang Xiaowang as a fortress to attract the rebels’ fire, so that the rebels were exhausted here, and then he broke the back road of the seven countries by himself, and finally put down the rebellion in three months.

It was Liang Xiaowang who was not under Zhou Yafu’s credit. Although he didn’t take the initiative, he clung to his territory and resisted the fierce attacks of the rebels of the Seven Countries. Liang Xiaowang repeatedly asked Zhou Yafu for help, but Zhou Yafu just ignored it. Others were unreliable and had to ask for help, so the defensive ability was greatly stimulated, which led to great damage to the troops of the Seven Countries at the gates and made it impossible for Zhou Yafu to send troops.

There is another point that many people may not think of, and that is the lending institution-Wuyan’s Qianjia.

The bold lending behavior of the Wuyan clan actually retained the military backbone for the Western Han Dynasty, greatly released their fighting capacity and stimulated their desire to fight. There is money in your hand and you don’t panic when you go into battle. This is one of them. If you are in debt, you must fight bravely and win, so that you can earn your money back and look forward to the future. This is the second.

It can be said that the financial institutions without salt made a key contribution to the victory of the Western Han Dynasty.

Finance not only provides capital, but also provides confidence.

After the victory, the survivors came back with a huge amount of trophies, and their profits exceeded ten times the interest, which made everyone happy.

As for those who were buried in the battlefield, the debts they borrowed were of course bad debts, but they were completely washed away by rich returns.

The ultimate winner is the Han Dynasty.

The biggest winner is the Wuyan family.

Compared with before the war, its assets have increased tenfold.

"At the age of one, the interest rate of the salt-free family is ten times."

Biography of Historical Records of Huo Zhi, a short historical material, shows us the richer structure of ancient wars. It is not only the correct decision of the rulers, the level of the commanders’ use of troops, and the bravery of the soldiers that determines the outcome of the war to quell the rebellion of the Seven Countries, but also closely related to financial lending. It became an integral part of the fighting capacity and fighting confidence of the Han Dynasty.

From a financial point of view, Sima Qian may be the first person in China since ancient times.

— END —

　　[Global Network Report] According to foreign media reports such as CNN and The Guardian, the British capital London held a large-scale demonstration in support of Palestine on Saturday (11th). According to the statistics of the London police, about 300,000 people participated in the protest March. The Guardian said that the parade coincided with the "Memorial Day", and the organizers said it might be one of the largest parades in British history. It is worth noting that on the 11th, many places around the world, including Barcelona, Paris and Ankara, held rallies on the same day to support the Palestinians and call for a ceasefire in Gaza.

On the 11th local time, a video screenshot of a large-scale protest March in support of Palestine broke out in London, England. Source: The Guardian.

　　According to CNN, on the 11th in London, protesters shouted "Liberation, Liberation of Palestine", "Cease fire immediately" and "From rivers to oceans, Palestine will be free!" Slogans, such as protests. The Guardian said that the London police said that 126 people have been arrested in the protests on the 11th.

　　On the 11 th local time, people participated in supporting the Palestinian March in London. Source: Foreign media

Regarding the scale of the protest in London, the Guardian specifically stated that British Cabinet Minister Michael Gove was once "besieged" by pro-Palestinian protesters at Victoria Station in London that day. In addition, in another video, when Goff was walking on the streets of London, protesters shouted "Shame on you" after him.

On the 11 th local time, at Victoria Station in London, British Cabinet Minister Michael Gove was escorted by protesters. Source: The Guardian.　　

According to the Guardian, the protest March in London also alarmed British Prime Minister Sunak. Later on 11th, Sunak condemned the violence in the procession, criticized "pro-Hamas people" and those who sang anti-Semitic slogans, and added that "all criminal acts must be comprehensively and quickly cracked down by law".

　　The Guardian also mentioned that on the same day that large-scale pro-Palestinian activities broke out in London, pro-Palestinian rallies were held in many places around the world on the 11th to protest against Israeli attacks on Gaza and call for a ceasefire, including Barcelona, Paris, Berlin, Ankara, and Sydney, Australia.

On the 11 th local time, people participated in a demonstration in support of Palestine in Barcelona, Spain. Source: Guardian

On the 11 th, local time, people participated in a demonstration in support of Palestine in Paris, France. Source: Guardian

On the 11 th local time, people participated in a demonstration in support of Palestine in Ankara, Turkey. Source: Guardian

On the 11 th local time, people participated in a demonstration in support of Palestine in Berlin, Germany. Source: Guardian　　

A new round of Palestinian-Israeli conflict continues. According to media reports, on November 11, local time, this round of conflict entered the 36th day, and more than 12,400 people were killed in both Palestine and Israel. Among them, more than 11,000 Palestinians died, while Israel revised the death toll from about 1,400 to about 1,200. On the 11th, the Israeli military continued to carry out air strikes and ground operations in the Gaza Strip, claiming that the Palestinian Islamic Resistance Movement (Hamas) lost control of the northern Gaza Strip. The Kasang Brigade, an armed faction under Hamas, said that it continued to exchange fire with the Israeli army that day and destroyed several Israeli targets.

Self-heating food is popular with consumers because of its convenience, however, there are certain risks at the same time. Recently, it has been reported that an uncle in Xiangtan, Hunan Province, caused a self-heating hot pot to explode and overflow due to an operation error on the bullet train.

　

In fact, such incidents have occurred many times before. In order to avoid risks, many places began to prohibit or not recommend carrying self-heating food in vehicles such as bullet trains, high-speed trains and airplanes. The Shanxi Provincial Market Supervision Bureau recently issued a consumption reminder on its official WeChat to remind consumers to be cautious when eating self-heating food and avoid eating it in a confined space.

　

There have been many explosions.

　

Self-heating food can be eaten anytime and anywhere mainly because of its own heating package. The materials in the heating package are generally aluminum powder, coke powder, activated carbon, salt, quicklime, etc. When it meets water, it will generate a large amount of heat, which can heat the ingredients. However, due to the large amount of heat, there are also great risks.

　

In recent years, safety problems caused by eating self-heating food have occurred from time to time. On December 4 this year, an uncle in Xiangtan, Hunan Province ate a self-heating hot pot on the bullet train. Because he couldn’t operate it, he tore open the self-heating bag and threw it into the hot pot, causing the pot to boil and explode. The scene was messy. The same mistake as this Xiangtan uncle was made by a citizen of Liaocheng, Shandong Province. On October 28 this year, when he was eating a self-heating hot pot, he also opened the heating bag and poured it into the box to add water. It exploded three minutes later.

　

In September 2019, when Mr. Fang in Shanghai was heating, he was afraid that it was not hot enough after pouring water. He added a lid to the lid of the self-heating hot pot, which exploded and the spilled soup injured his right eye. On March 22, 2017, a Chengdu guy put the hot pot on the glass table while eating the self-heating hot pot at home, and the glass table was blown to pieces.

　

Zeng Qiuwen, a food engineer, once said in an interview with the media that it can be seen from the description of self-heating food packaging that the heating package contains calcium oxide (the main component of quicklime) and aluminum powder, which will release flammable gas hydrogen when it meets water. If the volume concentration of hydrogen in the air is between 4.0% and 75.6%, it will explode even if it meets a little electrostatic spark. "In other words, eating self-heating food in a confined space will be very risky."

　

Self-heating food is "forbidden" by railway aviation in many places

　

Because of frequent safety accidents, many areas began to prohibit or "not recommend" carrying self-heating food in motor trains, high-speed trains and other means of transportation, and successively introduced relevant regulations.

　

On August 1, 2019, the official website of the Standing Committee of the People’s Congress of Guangxi Zhuang Autonomous Region published the Regulations on Railway Safety Management in Guangxi Zhuang Autonomous Region, which clearly stipulated that "it is forbidden to use self-contained heated food that can induce smoke alarm on EMU trains". Once it is violated, the public security organ will order it to make corrections, and the unit will be fined from 10,000 yuan to 50,000 yuan, and the individual will be fined from 500 yuan to 2,000 yuan.

　

In Fujian and Sichuan, although it is not explicitly forbidden to take self-heating food by high-speed rail, the two places issued regulations in 2018 and 2019 respectively, which banned the behavior of "smoking or using articles that induce smoke alarm in high-speed railway EMU trains".

　

In addition, the official WeChat of China Railway Corporation mentioned in the article "Taking these things on the train may be confiscated" published in early June 2019 that self-heating food is prone to accidents when it is heated, so it is recommended not to carry it or eat it carefully.

　

On the plane, self-heating food is also an unwelcome food. On August 5, 2019, the Beijing News reporter called the customer service hotline of the Capital Airport. The customer service clearly stated that the self-ignition package in the self-heating food has flammable components and cannot pass the security check. It is also necessary to discard the self-ignition package after consignment. According to media reports, there has always been a warm reminder in airport scanner, Nanning that "according to the air transport standards such as TI and DGR, self-heating food is one of the 4.2 aviation dangerous goods. If there is a chemical reaction on board, it will endanger flight safety."

　

Try to avoid eating in a confined space.

　

In order to avoid risks and protect consumers’ safety, the Shanxi Provincial Market Supervision Administration recently published an article on its official WeChat entitled "Pay attention to these six points when eating" self-heating hot pot ",otherwise it will be dangerous".

The Shanxi Provincial Market Supervision Bureau reminded that self-heating hot pot should be avoided in a closed or narrow space to prevent hydrogen from being generated during heating, and excessive accumulation will reach the critical point of explosion, causing a deflagration accident.

　

At the same time, the self-heating hot pot should not be placed on the table top which is not resistant to high temperature, so as to avoid the glass from breaking or damaging the table top due to the high temperature at the bottom during heating; Be sure to open the vent hole on the lid of the self-heating fire, and pay attention to observe whether there is gas discharged, so as to avoid explosion accidents caused by excessive pressure in the box; To choose a suitable dining environment, try to put the self-heating hot pot flat before using it, and it is strictly forbidden to tilt it to prevent the hot water containing chemicals from overflowing; Properly dispose of food waste, especially after using the self-heating chafing dish heating bag, it is suggested to cool it before handling it, and it should not be piled up or contacted with water to prevent it from exploding when it meets a fire source.

　

In addition, note that cold water must be added to the self-heating hot pot heating package. "The heat of the self-heating chafing dish comes from quicklime, activated carbon, iron powder, aluminum powder and other components in the heating bag. After contacting with water, the heat released can reach more than 150 degrees Celsius. If hot water is added to the self-heating chafing dish, the heating bag will easily explode, so you can only add cold water to the self-heating chafing dish, and you must completely submerge the heating bag."

　

　

Beijing News reporter Liu Huan

Editor Zhu Fenglan proofreads Xue Jingning.

On September 10th, the National Bureau of Statistics released the national CPI (Consumer Price Index) in August, among which the data related to pork price was concerned by the market. On the same day, the Beijing News reporter visited a vegetable market near the Second Ring Road in the southwest and found that the price of lean pork was about 25 yuan/kg, while the price of pork ribs was about 32 yuan/kg.

The data shows that from the ring comparison, the CPI rose by 0.7%, with an increase of 0.3 percentage points over the previous month, while the price of pork rose by 23.1% due to tight supply, with an increase of 15.3 percentage points over the previous month, which affected the CPI increase by about 0.62 percentage points. From a year-on-year perspective, CPI rose by 2.8%, the same as last month, while pork prices rose by 46.7%, an increase of 19.7 percentage points over last month.

Zhu Danpeng, a food industry analyst in China, said in an interview with the Beijing News today that the stock of live pigs in China has reached a historical low due to the African swine fever, and the supply of live pigs cannot meet the market demand, so the price of live pigs has risen. As one of the main food sources for residents, the price increase of pork has raised the whole food price.

Liu Yuanchun, vice-president of China Renmin University, said that the single factor of pork itself is difficult to cause the overall price increase, especially in the macro environment where the downward pressure on the economy is increasing.

It is noteworthy that in order to control the pork price increase, various ministries and local governments have recently taken a number of "real money and silver" hard measures. According to the incomplete statistics of the Beijing News reporter, up to now, many departments such as the National Development and Reform Commission, the Ministry of Finance, the Ministry of Commerce, the Ministry of Natural Resources, the Ministry of Transport, the Ministry of Agriculture and Rural Affairs, and China Banking and Insurance Regulatory Commission and other regulatory agencies have successively issued preferential policies related to the pig industry, covering financial support, breeding subsidies, transportation support and land use support.

Will the continuous rise in pork prices lead to an overall increase in prices?

It is difficult for a single factor to cause the overall price increase.

Judging from the data, pork prices are still rising in August. From the ring comparison, the supply of pork was tight, and the price rose by 23.1%, an increase of 15.3 percentage points over the previous month; From a year-on-year perspective, pork prices rose by 46.7%, an increase of 19.7 percentage points over the previous month.

The rise in pork prices is accompanied by consumers’ concerns about the overall price increase. In this regard, Liu Yuanchun said in an interview with the Beijing News reporter that the rise in pork prices was not only today, but also in China from 2006 to 2008 and around 2010.

Liu Yuanchun further analyzed that the rise of pig cycle and sudden factors including epidemic situation will lead to the rise of pork prices, but the single factor of pork itself is difficult to cause the overall price rise, especially in the macro environment where the downward pressure on the economy is increasing.

Liu Yuanchun stressed, "So the pork problem we are facing now is the pork problem, which has nothing to do with inflation. You don’t have to worry about inflation."

Many ministries and commissions have jointly taken measures to stabilize pig prices.

There is a one-time subsidy for new breeding pig farms, with a minimum of 500,000.

In order to control the rising price of pork, recently, the National Development and Reform Commission, the Ministry of Finance, the Ministry of Commerce and other regulatory agencies, such as China Banking and Insurance Regulatory Commission, have successively issued preferential policies related to the pig industry, covering financial support, breeding subsidies, transportation support, land use support and other aspects.

Among them, there are still some support policies that come up with "real money and silver". For example, on September 9, the General Office of the National Development and Reform Commission and the General Office of the Ministry of Agriculture and Rural Affairs jointly issued the Notice on Doing a Good Job in the Investment Arrangement of Stabilizing Pig Production in the Central Budget, clearly stating that the investment in the Central Budget will provide one-time subsidies for the construction, renovation and expansion of breeding farms and large-scale pig farms (households) before the end of 2020, and the reconstruction of large-scale pig farms (households) in prohibited areas, mainly supporting the construction of large-scale pig farms and breeding farms, animal epidemic prevention, manure treatment and breeding environment control. According to the regulations, the proportion of central subsidy shall not exceed 30% of the total investment of the project in principle, with a minimum of 500,000 yuan and a maximum of 5 million yuan.

Pan Xiangdong, chief economist of New Era Securities, told the Beijing News reporter that the performance of aquaculture enterprises is still worrying this year due to the large loss of swine fever in Africa. "Therefore, the best way to avoid the continuous high price of pork at present is to restore production capacity as soon as possible, that is, to mobilize the enthusiasm of aquaculture enterprises to resume production. The policy issued by the National Development and Reform Commission and the Ministry of Agriculture and Rural Affairs is to encourage pig breeding through subsidies. With subsidies, farmers will lose less and have the enthusiasm to continue production."

It is noteworthy that China Banking and Insurance Regulatory Commission recently issued a relevant notice, saying that it will increase credit support. Banking financial institutions should further increase their support for the pig industry. For breeding pig farms (local pig breeding farms), pig scale farms and slaughtering and processing enterprises that meet the credit conditions but temporarily encounter operational difficulties, it is necessary to do a good job in related financial services, and it is not allowed to blindly limit loans, draw loans or cut off loans.

Pan Xiangdong told the Beijing News reporter that the recovery of pig production capacity needs a cycle. Although the pig price is high, due to the large loss of African swine fever, aquaculture enterprises have suffered serious losses. If financing support is not provided, the current piglet price will rise too fast, and there is no market for it, and the cost of resuming production is very high. At the same time, the outbreak of African swine fever and the resumption of production also bear risks, and it is difficult for aquaculture enterprises to get motivated to resume production. "Do a good job in related financial services, and don’t blindly limit loans, draw loans, and break loans, which is conducive to encouraging large-scale pig raising and suppressing the speed of pig production capacity reduction as much as possible."

Beijing News reporter Pan Yichun Chen Peng

Editor Wang Yu proofreads Li Xiangling.

In the past many years, independent brand car manufacturers have always had a high-end dream, so when those models with relatively low prices have achieved good sales, they try to launch high-level new brands and new products with relatively higher prices, such as Lectra, WEY and Starway. However, there is also a brand, the situation is not the same. It is Tengshi Automobile established in 2010 by BYD and Mercedes-Benz, which should be regarded as the earliest joint venture brand of new energy vehicles in China.

However, Tengshi Automobile’s products have not achieved corresponding sales performance in the market, so the brand has been in a state of loss. From 2014 to 2019, it lost 260 million yuan, 570 million yuan, 1.3 billion yuan, 480 million yuan, 888 million yuan and 539 million yuan respectively, so it is hopeless to see Tengshi Automobile rise. In 2022, BYD and Mercedes-Benz will be among Tengshi Automobile. In other words, although Mercedes-Benz holds a 10% stake in Tengshi Automobile, it is only an investor and has no right to speak. Tengshi Automobile was almost abandoned by Mercedes-Benz.

However, in the past year of 2022, it was the most vigorous year for BYD. The sales volume climbed month by month, and the monthly sales volume finally exceeded the 200,000 mark, and it surpassed FAW-Volkswagen to become the first independent brand with the highest monthly sales volume of passenger cars for many years, and its epoch-making significance was highlighted. At the same time, the monthly sales volume of BYD Han series vehicles exceeded 30,000, and the monthly sales volume of BYD Tang series vehicles exceeded 10,000. The market and consumers have given enough trust to these two models with the attributes of domestic vehicles, new energy vehicles and mid-to high-end vehicles, which also makes it possible for BYD to make efforts again in the high-end market.

So BYD looked for an "export" in Tengshi brand, and launched Tengshi D9, a high-end new energy source, with a price of 335,800-465,800 yuan and an optional MPV model with pure electric and DM-i hybrid power systems. After the car came out, the market response was very good. Many consumers chose this model after comparing the MPV models of the same size and level of many joint venture brands, and the sales volume of this car.

In March 2023, the sales volume of Tengshi D9 exceeded 10,000, reaching 10,398, which should be the first domestic MPV model with a price of over 300,000 yuan and a monthly sales volume of over 10,000. It is a milestone product. The key detail is that according to official information, the average car purchase price of this car reached 415,000 yuan. The monthly sales volume of this product has exceeded 10,000 vehicles. It should be no problem to say that Tengshi brand has been saved by BYD, so the monthly sales volume of this car has exceeded 10,000, which is of greater significance to Tengshi brand.

What kind of product charm does Tengshi D9 have, and can quickly "save" Tengshi brand? First of all, Tengshi D9 is a typical medium and large MPV model, with a length of 5250mm and a wheelbase of 3110 mm. It has a 7-seat layout, and it performs quite well in the application of interior materials, configuration layout and vehicle space performance.

Of course, more importantly, this MPV model is equipped with BYD’s three-electric system, and the DM-i model is equipped with a 1.5T plug-in special engine+hybrid system. The minimum acceleration time of 100 kilometers can reach 7.9 seconds, and the minimum fuel consumption can reach 5.9L/100 kilometers. For such a large-sized MPV model, it can be said that it is necessary to have performance, fuel consumption economy and endurance anxiety.

The maximum cruising range of pure electric vehicles is 620 kilometers, and the acceleration time of 100 kilometers is the fastest 6.9 seconds. The unique "dual-port" fast charging,Effectively improve the use efficiency of the 166kW fast charging scene, and can replenish 230km in 15 minutes. This charging efficiency is still very high. Both DM-i hybrid vehicles and pure electric vehicles can guarantee very good NVH performance and ride comfort of power output, which is very important for mid-to high-end MPV vehicles.

On the intelligent level, Tengshi D9 is equipped with Tengshi Pilot intelligent assisted driving system, which has 24 sensors and 1 domain controller, and can realize functions such as intelligent navigation, highway assistance, visual fusion full-scene automatic parking, stop-and-go full-speed adaptive cruise, etc. The driving assistance ability is still relatively strong, and the convenience and safety of daily driving can also be greatly improved.

Therefore, in essence, Tengshi D9 is a medium and large MPV model with high cost performance, but it also highlights the sense of luxury, comfort and technology. Moreover, with BYD’s overall excellent performance in the field of new energy vehicles, many consumers are willing to try and accept mid-to high-end products such as Tengshi D9. It can be said that Tengshi D9 appeared at the right time, and Tengshi brand regained its momentum with this car, and then Tengshi N7.

　　Beijing, June 1 ST (Reporter Qiu Yu) Is there a word "flash payment" written on your bank card? If there is, you should pay attention. Starting from today, the single limit of small amount of confidentiality and visa exemption for UnionPay cards will be raised from 300 yuan to 1000 yuan.

　　The reporter’s investigation found that many people don’t know that the bank "defaults" to open the function of small amount of confidentiality and visa exemption. What is a small amount of confidentiality and visa exemption? Is it reasonable for banks to open by default? Can I get compensation if my brush is stolen?

　　What is a small amount of confidentiality and visa exemption?

　　Simply put, this is a kind of "pay with one stroke" payment experience. Within a certain amount, you can complete the payment without entering a password and signature.

　　Unionpay’s small confidential exemption visa was launched by China UnionPay in 2015, which is convenient and efficient.

　　Which bank cards have this function? According to the announcement issued by UnionPay, cardholders need to use UnionPay chip cards or mobile payment devices with "flash payment" function. In other words, the magnetic stripe card cannot enable this function.

　　The single limit was raised from 300 yuan to 1000 yuan.

　　According to the announcement issued by UnionPay, starting from June 1, 2018, China UnionPay will jointly optimize the function of "small-amount confidential exemption and visa exemption" with member institutions. At that time, the single limit of small-amount confidential exemption and visa exemption for UnionPay chip debit cards and credit cards will be raised from 300 yuan to 1000 yuan.

　　The reporter consulted a number of banks on May 31 and found that many banks have raised their quotas.

　　According to the customer service staff of CITIC Bank in Beijing, the single consumption amount of small-sum confidential exemption and visa-free is no more than that of 1000 yuan, and the cumulative consumption amount of a single card per day is no more than 3,000 yuan.

　　Bank of China, China Merchants Bank, etc. have issued announcements in official website to increase the quota, announcing that the single quota for small-sum confidential exemption will be raised from 300 yuan to 1000 yuan.

　　Generally, the function is "default".

　　You can pay by credit card without password, which makes many people worry about the security of bank cards. Then, when opening this function, did the bank get the consent of the cardholder?

　　According to the information of UnionPay official website, small-sum confidential exemption and visa-free is a mature payment method in the world, and it is also the basic function of the default opening of bank cards, which makes cardholders pay more conveniently and quickly.

　　According to previous media reports, Cardo, a newly-developed UnionPay chip in most banks, has opened a small amount of confidential and visa-free payment service by default, but the opening of this service does not require the prior consent of the cardholder.

　　To this end, the reporter consulted the customer service staff of China Bank, Industrial and Commercial Bank of China and other banks in Beijing, and was told that this function is enabled by default, but cardholders can apply to close it.

　　According to the information disclosed by UnionPay official website, if the cardholder wants to turn off this function, he can contact the issuing bank to turn it off. At present, most issuing banks have supported the turn-off function.

　　Is the "default" opening reasonable?

　　"If the bank sets the small amount of confidential and visa-free payment function as the default, there is a problem in the procedure." Li Jiquan, a senior partner and lawyer of Beijing Junbang Law Firm, said, "Users have the right to know and choose. Banks should fully and effectively inform users of relevant contents and risks when opening the above functions, and let them sign for confirmation. "

　　Li Jiquan pointed out that the decision of the bank to raise the payment limit needs to be made known to the cardholder himself. In this way, the cardholder can realize the possible risks when the bank card is held by others.

　　Xiong Dingzhong, secretary-general of Tsinghua University Internet Law and Policy Research Center, said in an interview with Zhongxin.com that opening the secret-free function will indeed bring convenience to users, but it will also increase users’ risks. This kind of service should be specifically informed separately in the format contract between the user and the bank, just as the bank can’t open the U shield payment function by default.

　　If this function has been enabled by default, Liu Junhai, director of the Institute of Commercial Law of Renmin University of China, believes that banks can tell users about the small-sum confidential and visa-free payment function by SMS, and if users disagree, they should be able to cancel it at any time.

　　If the brush is stolen, you can get compensation

　　Several users who hold bank cards with flash payment function said that they did not know that the bank card had been opened with the function of small secret-free and visa-free payment. While pursuing convenience, how to ensure the safety of using the card has become the most concerned issue for consumers.

　　Considering the security of bank cards, in order to enhance the cardholder’s confidence in using the card, UnionPay pointed out in the announcement that for the loss caused by card theft and loss, if the compensation conditions are met, the cardholder can get compensation within a certain amount within 72 hours before reporting the loss.

　　According to the information of UnionPay official website, if a small amount of confidential and visa-free transactions are stolen within 72 hours before the loss is reported, you should call the customer service of the issuing bank as soon as possible after the loss is reported, and apply for compensation according to the process of the issuing bank. The application materials to be provided by the cardholder generally include the cardholder’s identity certificate, the UnionPay card transaction denial statement, etc. After the application materials are approved, the compensation funds will generally be returned to the account designated by the cardholder within 10 working days. The payment time limit of different issuing banks is different.

　　In this regard, Li Jiquan believes that if the customer is in a known state for opening a small amount of confidential and visa-free payment function, then the compensation within 72 hours is a supplement to the contract between the two parties; If the customer doesn’t know about this function, it can only be said that it is a remedial measure for the bank’s own behavior.

　　Liu Junhai said that "compensation can be obtained within a certain amount" is rather vague, and suggested that it should be changed to "full compensation", which is the key to enhance the confidence of cardholders and can relieve users’ worries about the safety of using cards. (End)

　　Editor of China Economic Net: Wuhu Sanlian Forging Co., Ltd. (hereinafter referred to as "Sanlian Forging") will hold its initial meeting on March 14th. The sponsor (lead underwriter) is Essence Securities Co., Ltd., and the sponsors are Li Yang and Zeng Zeyun.

　　From January to June in 2019, 2020, 2021 and 2022, Sanlian Forging realized operating income of 530,472,300 yuan, 617,844,800 yuan, 929,259,500 yuan and 472,336,900 yuan respectively, and realized net profit attributable to owners of the parent company of 53,108,200 yuan respectively. 8,695,100 yuan, and the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses was 47,730,700 yuan, 64,815,500 yuan, 66,761,500 yuan and 26,013,300 yuan respectively.

　　During the reporting period, the weighted average return on equity calculated by Sanlian Forging based on the net profit attributable to ordinary shareholders of the company after deducting non-recurring gains and losses was 13.48%, 14.96%, 13.04% and 4.63% respectively.

　　In each period of the reporting period, the net cash flow generated by Sanlian Forging was RMB 52,222,500, RMB 40,058,800, RMB 39,061,400 and RMB 42,757,300, with net cash ratios of 0.98, 0.55, 0.51 and 1.49 respectively. The cash received from selling goods and providing services was 529,879,400 yuan, 568,199,800 yuan, 945,218,800 yuan and 364,172,000 yuan respectively, and the cash-to-cash ratios were 1.00, 0.92, 1.02 and 0.77 respectively.

　　During the reporting period, the gross profit margin of Sanlian Forging was 26.76%, 26.64%, 21.15% and 20.41% respectively, of which the gross profit margin of main business was 27.94%, 27.71%, 22.70% and 21.81% respectively.

　　According to the interface news report, at present, new energy vehicles are still the new growth point of the automobile industry. In 2021, the global and domestic new energy vehicle industries are in a period of rapid growth, and the sales of new energy vehicles increased by 107.92% and 157.57% respectively.

　　At present, the triple forging products can be used for new energy vehicles except the high-pressure common rail and the pump body, but only the electric drive hollow shaft products are special for new energy vehicles, mainly used in the electric drive system and gearbox of the transmission system of new energy vehicles. In addition, the company’s lock claw products are used in the shift actuator of hybrid and electric vehicles to realize the shift selection and shift function of the shift head.

　　At present, Sanlian Forging comes from insufficient expansion in the field of new energy. During the reporting period, the product income of Sanlian Forging from new energy vehicles was 3,297,000 yuan, 5,121,800 yuan, 23,604,200 yuan and 22,836,600 yuan respectively, accounting for 0.65%, 0.87%, 2.74% and 5.18% of the main business income respectively.

　　It is planned to raise 435 million yuan.

　　Sanlian Forging is mainly engaged in research and development, production and sales of automobile forging parts. The company’s products are mainly used in automobile power system, transmission system, steering system, suspension support and other systems that require high mechanical performance and safety performance of parts.

　　Sanlian Forging plans to land on the main board of Shenzhen Stock Exchange this time. The number of shares to be publicly issued this time is no more than 28.38 million shares, and the number of shares to be issued is not less than 25% of the total share capital of the company after this issuance. The funds to be raised this time are 434.6818 million yuan, and the net amount after deducting the issuance expenses will be used for the technical renovation and machining supporting construction project of precision forging production line, the capacity expansion project of high-performance forging production line (50MN), the construction project of R&D center and supplementary working capital.

　　As of the signing date of the prospectus, the joint actual controllers of Sanlian Forging are Sun Guofeng, Zhang Yiheng, Sun Guomin and Sun Renhao. Sun Guofeng and Sun Renhao are father and son, Sun Guofeng and Sun Guomin are brothers, and Sun Guofeng, Sun Guomin and Zhang Yiheng are uncles and nephews.

　　Sun Guofeng directly holds 26.91% of the shares of Sanlian Forging. He is the largest shareholder of Sanlian Forging and serves as the chairman and general manager of the company. Zhang Yiheng directly holds 26.77% of the shares of Sanlian Forging and serves as a director of the company; Sun Guomin directly holds 26.77% shares of Sanlian Forging; Sun Renhao directly holds 1.92% of the shares of Sanlian Forging as the deputy general manager of the company; Sun Guofeng, as the executive partner of Wuhu Sanlian Holding Partnership (Limited Partnership) (hereinafter referred to as Sanlian Partnership), can actually control the voting rights of Sanlian Forging 4.10% shares held by Sanlian Partnership. Sun Guofeng, Zhang Yiheng, Sun Guomin and Sun Renhao actually control the voting rights of 86.47% shares of Sanlian Forging, which can have a significant impact on the shareholders’ meeting and the board of directors of Sanlian Forging.

　　Sun Guofeng, Zhang Yiheng, Sun Guomin and Sun Renhao signed the Concerted Action Agreement on July 12, 2018, which stipulated: "All parties guarantee to adopt the same expression of will when exercising the rights of shareholders and directors and business decisions of the company, especially when exercising the right to convene, propose and vote, so as to consolidate their control position in the company and maintain the stability of the actual control right of the company. If all parties negotiate on relevant proposals or voting and decision-making matters,

　　Sun Guofeng, chairman and general manager of Sanlian Forging, male, China nationality, no permanent residency abroad, born in April 1968, junior high school education. From March 1994 to January 2010, he served as the director, executive director and general manager of Wenzhou Sanlian (formerly known as Ruian Guohuan Screw Factory and Ruian Sanlian Forging Factory); From April 2004 to March 2018, he served as a supervisor of Ruian Xinlian Auto Parts Co., Ltd.; From June 2004 to October 2018, he served as a limited supervisor, executive director and general manager of Sanlian; From October 2015 to May 2017, he served as executive director of Wuhu Mofei Ergonomics Technology Co., Ltd.; From December 2015 to August 2018, he served as supervisor of Huangshan Lianxin; From June 2017 to November 2020, he served as the supervisor of Huzhou Sanlian; Since July 2017, he has served as executive director and general manager of Wuhu Wanlian; Since October 2017, he has served as chairman and director of Xinlian Seiko; Since October 2018, he has served as executive director and general manager of Wuhu Shunlian; Since October 2018, he has served as the chairman and general manager of Sanlian Forging; Since November 2019, he has served as the executive partner of Sanlian Partnership; Since April 2020, he has served as executive director and general manager of Wuhu Yilian.

　　Zhang Yiheng, director of Sanlian Forging, male, China nationality, without permanent residency abroad, born in August 1992, with a college degree. From June 2016 to July 2017, he served as the purchasing manager of Wenzhou Sanlian; From July 2017 to June 2020, he served as a supervisor of Wuhu Wanlian; From February 2018 to October 2018, he served as a limited director of Sanlian; Since February 2018, he has served as director and chairman of Xinlian Seiko; Since January 2018, he has served as executive director and general manager of Sanlian Parts; Since October 2018, he has served as a director of Sanlian Forging.

　　Sun Guomin, executive director and general manager of Huzhou Sanlian, a wholly-owned subsidiary of Sanlian Forging, male, China nationality, without permanent residency abroad, was born in February 1976, with a high school education. From March 1994 to July 2021, he served as sales manager, vice president of marketing, executive director and general manager of Wenzhou Sanlian; From March 2001 to February 2008, he served as the general manager of Huaying Yong Guang Forging Machinery Factory; From June 2011 to July 2012, he served as executive director and general manager of Ruian Sanlian Investment Consulting Co., Ltd.; From June 2004 to March 2014, he served as the general manager of Sanlian Limited; From April 2013 to December 2013, he served as the supervisor of Ruian Kaisheng Trading Co., Ltd.; Since August 2019, he has served as deputy general manager of Sanlian Parts; Since March 2021, he has served as executive director and general manager of Huzhou Sanlian.

　　Sun Renhao, deputy general manager of Sanlian Forging, male, China nationality, born in June 1994, with a college degree. From March 2015 to October 2018, he served as the sales manager of Sanlian Limited; From February 2018 to March 2021, he served as executive director and general manager of Huzhou Sanlian; From October 2018 to October 2020, he served as secretary of the board of directors of the company; From October 2018 to November 2020, he served as a director of the company; Since November 2020, he has served as deputy general manager of Sanlian Forging.

　　Continuous increase in performance

　　From January to June in 2019, 2020, 2021 and 2022, Sanlian Forging realized operating income of 530,472,300 yuan, 617,844,800 yuan, 929,259,500 yuan and 472,336,900 yuan respectively, and realized net profit attributable to owners of the parent company of 53,108,200 yuan respectively. 8,695,100 yuan, and the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses was 47,730,700 yuan, 64,815,500 yuan, 66,761,500 yuan and 26,013,300 yuan respectively.

　　In each period of the reporting period, the net cash flow generated by Sanlian Forging was RMB 52,222,500, RMB 40,058,800, RMB 39,061,400 and RMB 42,757,300, with net cash ratios of 0.98, 0.55, 0.51 and 1.49 respectively. The cash received from selling goods and providing services was 529,879,400 yuan, 568,199,800 yuan, 945,218,800 yuan and 364,172,000 yuan respectively, and the cash-to-cash ratios were 1.00, 0.92, 1.02 and 0.77 respectively.

　　In 2022, Sanlian Forging realized an operating income of 1,049,782,700 yuan, a year-on-year increase of 12.97%; The net profit attributable to shareholders of the parent company was 94,840,100 yuan, a year-on-year increase of 23.75%; The net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses was 83,918,100 yuan, a year-on-year increase of 25.70%; The net cash flow from operating activities was RMB 104,045,100, a year-on-year increase of 166.36%.

　　Combined with past performance, market demand and orders, Sanlian Forging expects the company to realize an operating income of 265,128,500 yuan from January to March 2023, a year-on-year increase of 2.39%; The net profit attributable to shareholders of the parent company was 17,393,500 yuan, a year-on-year increase of 1.41%; The net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses was 15,453,300 yuan, a year-on-year increase of 6.31%.

　　Gross profit margin fell continuously.

　　During the reporting period, the gross profit margin of Sanlian Forging was 26.76%, 26.64%, 21.15% and 20.41% respectively, of which the gross profit margin of main business was 27.94%, 27.71%, 22.70% and 21.81% respectively.

　　During the reporting period, the average gross profit margin of the main business of comparable listed companies in the same industry was 25.08%, 22.34%, 23.85% and 22.05% respectively.

　　During the reporting period, gross profit margins of domestic main business of Sanlian Forging were 29.98%, 29.58%, 23.85% and 21.38% respectively, and gross profit margins of overseas main business were 16.45%, 16.70%, 18.25% and 23.05% respectively.

　　At the end of June 2022, the book value of accounts receivable was 226 million yuan.

　　At the end of each reporting period, the book value of accounts receivable of Sanlian Forging was 142,228,300 yuan, 163,244,400 yuan, 192,470,800 yuan and 226,083,600 yuan respectively, accounting for 43.32%, 44.41%, 36.33% and 39.04% of current assets respectively; The balance of accounts receivable was 152,668,900 yuan, 173,553,900 yuan, 204,342,700 yuan and 240,289,600 yuan respectively, accounting for 28.78%, 28.09%, 21.99% and 50.87% of operating income respectively.

　　In each period of the reporting period, the accounts receivable turnover rate of Sanlian Forging was 3.38 times, 3.79 times, 4.92 times and 2.12 times respectively, and the average accounts receivable turnover rate of comparable listed companies in the same industry was 3.79 times, 3.62 times, 3.99 times and 1.77 times respectively.

　　At the end of each reporting period, the bills receivable of Sanlian Forging were 10,697,800 yuan, 14,666,200 yuan, 10,964,500 yuan and 8,806,500 yuan, respectively, and the fair value of receivables financing was 24,547,900 yuan, 16,255,600 yuan, 40,141,700 yuan and 28,718,800 yuan, respectively.

　　Based on this calculation, at the end of each reporting period, the receivables of Sanlian Forging were 184,807,200 yuan, 199,816,700 yuan, 250,370,900 yuan and 275,181,300 yuan respectively.

　　At the end of June 2022, the book value of inventory was 251 million yuan.

　　At the end of each reporting period, the book value of Sanlian forging inventory was 112,799,800 yuan, 122,719,000 yuan, 238,363,500 yuan and 250,858,300 yuan respectively, accounting for 34.36%, 33.39%, 44.99% and 43.32% of current assets respectively, and the book value of inventory at the end of the reporting period was 43.32%.

　　In each period of the reporting period, the inventory turnover rate of Sanlian Forging was 3.31 times, 3.47 times, 3.77 times and 1.44 times respectively, and the average inventory turnover rate of comparable listed companies in the same industry was 3.15 times, 3.13 times, 3.04 times and 1.17 times respectively.

　　Interface news: insufficient expansion of new energy field

　　According to the interface news report, at present, new energy vehicles are still the new growth point of the automobile industry. In 2021, the global and domestic new energy vehicle industries are in a period of rapid growth, and the sales of new energy vehicles increased by 107.92% and 157.57% respectively.

　　Source: China Automobile Industry Association.

　　According to the data of China Association of Automobile Manufacturers, from 2019 to 2021, the domestic automobile sales were 25.769 million, 25.311 million and 26.275 million respectively, the domestic new energy vehicles sales were 1.206 million, 1.367 million and 3.521 million respectively, and the market penetration rate of new energy vehicles was 4.68%, 5.40% and 13.40% respectively.

　　The State Council released the peak carbon dioxide emissions Action Plan before 2030 in October 2021, which pointed out that by 2030, the proportion of new energy and clean energy vehicles will reach about 40%. In the future, there is still much room for improvement in the market penetration rate of new energy vehicles.

　　At present, the triple forging products can be used for new energy vehicles except the high-pressure common rail and the pump body, but only the electric drive hollow shaft products are special for new energy vehicles, mainly used in the electric drive system and gearbox of the transmission system of new energy vehicles. In addition, the company’s lock claw products are used in the shift actuator of hybrid and electric vehicles to realize the shift selection and shift function of the shift head.

　　Lockclaw and hollow shaft products are newly added products of the company in 2019 and 2020, and hollow shafts belong to shaft products. In 2020 and 2021, the sales of hollow shafts were not seen in the top five customers’ purchases of shaft products of the company. It was not until the first half of 2022 that Wuxi () Technology Group Co., Ltd. purchased hollow shaft products in Sanlian Forging, and the total number of purchased motor shafts and hollow shafts was 57,500.

　　Image source: prospectus

　　By June 30th, 2022, the company has entered the designated development projects of new energy automobile parts of well-known automobile manufacturers such as Daimler, Volkswagen, General Motors, Audi, BMW, (), BYD Toyota, Weilai, Ideality, Tucki, SAIC Volkswagen, SAIC-GM, SAIC, Great Wall, Chery and Geely.

　　Image source: prospectus

　　Image source: prospectus

　　However, most of the projects are still in the APQP and PPAP certification stage, and many parts and components involved are purchased by fork. In 2021 and the first half of 2022, the gross profit margin of the company’s fork unit was only 11.00% and 12.45%, respectively, and the profit was relatively thin.

　　At present, Sanlian Forging comes from insufficient expansion in the field of new energy. During the reporting period, the product income of Sanlian Forging from new energy vehicles was 3,297,000 yuan, 5,121,800 yuan, 23,604,200 yuan and 22,836,600 yuan respectively, accounting for 0.65%, 0.87%, 2.74% and 5.18% of the main business income respectively.

　　International Finance News: Suppliers may have "stories"

　　According to the International Finance News, Wenzhou Sanlian Auto Parts Co., Ltd. (hereinafter referred to as "Sanlian Parts") is a wholly-owned subsidiary of Sanlian Forging.

　　This subsidiary was involved in an interesting case.

　　According to the executive ruling in March 2022, the dissident Xiangtan Xinhuida Electroplating Co., Ltd. (hereinafter referred to as "Xinhuida") believes that Sanlian Parts has always been a customer of Xinhuida, and later, because Sanlian Parts are going to be listed, it is necessary to have a complete environmental assessment procedure, and Xinhuida rents the factory building of Hunan Zhaoliang Electroplating Co., Ltd. (hereinafter referred to as "Hunan Zhaoliang"), and all enterprises in the park use the relevant qualifications of electroplating environmental assessment of Hunan Zhaoliang. At present, Hunan Zhaoliang has collected Xinhuida’s payment amount of RMB 349,200 in December 2021.

　　Regarding whether Xinhuida uses Hunan Zhaoliang’s qualification to sign the contract and collect and transfer the payment, the execution ruling does not give a clear answer. In addition, the court held that Article 25, paragraph 1 (3) of the Provisions of the Supreme People’s Court on Several Issues Concerning People’s Courts Handling Cases of Execution Objection and Reconsideration stipulates that if an outsider objects to the case, the bank deposit shall judge the obligee according to the name of the account of the financial institution. In this case, the money involved was deposited into the account opened by Hunan Zhaoliang in Xiangxiang Sub-branch (). According to the above laws and regulations, the right holder of the money is Hunan Zhaoliang, not Xinhuida. For Hunan Zhaoliang’s property, our court can execute it. Therefore, the dissident’s view that the money involved belongs to him and should be unsealed is inconsistent with the above legal provisions.

　　Abstract of enforcement ruling, data source: China Judgment Document Network.

　　It should be pointed out that the Sanlian Forging Declaration shows that Xinhuida is the fourth largest outsourcing supplier of Sanlian Forging in 2020, and the related purchase amount is 497,100 yuan. In 2021, Xinhuida did not become the top five outsourcing suppliers of Sanlian Forging. Hunan Zhaoliang was not the top five outsourcing suppliers of Sanlian Forging in 2019 and 2020, but became the fifth largest outsourcing supplier of Sanlian Forging in 2021, with a related purchase amount of 567,300 yuan.

　　Then, does Xinhuida use the qualification of Hunan Zhaoliang to sign the cooperation contract of Sanlian parts? If so, do the suppliers of Sanlian Forging have similar situations?

Angry Birds has been popular for a week.

　 　 Special feature of 1905 film network The 3D animated movie produced by Rovio, a world-renowned entertainment company, has been released for a week. Judging from its hot box office and strong reputation, the movie has become another national explosion, reviving the IP craze of Angry Birds. Just like this, after the film was released, welfare posts such as the world setting and the details of the story line tribute game were exposed one by one. Everyone had no resistance to this group of grumpy birds, and the little birds were so angry that they simply burst into tears!

　

Angry Birds: Fat Red, Dart Yellow and Bomb Black.

　 　 In the film, not only three well-known "veterans" online celebrity "Fat Red", "Dart Yellow" and "Bomb Black" take the lead, but every bird is inextricably linked with the game. "White Sister", "Long Mouth Green", "Blue Brother" and Shi Daila also captured a large number of fans, and the obvious "Invincible Condor" with a beer belly made many viewers laugh before it appeared. As for why birds can’t fly, they don’t have wings in the game, and the film also mentions that they are descendants of dinosaurs, but after ten thousand years of degeneration and mutation, they lost their ability to fly, so our slingshot became a killer weapon for birds!

　

　 　 Then the question is, have you ever wondered if Angry Birds will have a prototype in reality without the world of movies and games? Let’s take a look at the real prototype of the bird and see what the "angry bird" looks like in the real world.

The prototype of "Fat Red" is the Cardinal.

　

"Fat Red": evolved from Cardinals in North America, petite and lovely.

　

　 　 The earliest character in the game is "Fat Red", which is also the absolute protagonist in the movie. When there is a crisis, it leads everyone to fight back bravely, with straightforward personality and strong leadership. However, the "Fat Red" in the game in those days was sketched by the painter with a few simple strokes, and the image was not rich, but it was such a lovely and vivid cartoon image that attracted bird fans. In the movie, "Fat Red" has wings (however, it still can’t fly), and the short and strong calves and obviously exaggerated thick eyebrows are more enjoyable, and the modeling absorbs the essence of the game.

　

　 　 Such a distinctive "fat red" obviously has the shadow of the cardinal, in fact, its prototype is the cardinal. They are a kind of birds belonging to Hong Niao in North America. Their habitats are woodlands, gardens, jungles and swamps. The faces of male and female birds are black and gray respectively (just like spots on the face of "Fat Red"). They all have obviously raised crowns, and their beaks are fresh coral-colored, conical and strong, and they mainly feed on grains.

　

　 　 However, compared with the movies, the real Cardinals in North America are petite and cute, and their figure is also very slim. Our "fat red" may be overweight … … Male birds are very territorial, and they will protect their territory with songs from high places. Many North American cardinals will regard their reflections as intruders and fight with themselves!

　

　 　 In this way, the extremely keen observation and defense consciousness of "Fat Red" in the film are also well documented. It is said that the alarm sound of Cardinals is very unique, which can remind females and chicks of predators nearby. In the movie, "Fat Red" is not only the first bird to discover the suspicious motive of Green Pig, but also the first bird to warn everyone, and even leads the birds to fight back in an all-round way after Green Pig steals the eggs.

　

The prototype of "Dart Yellow" is a cute woodpecker with extremely fast speed.

"Dart Yellow": The cute woodpecker is it! Knocking on trees 500 times a day is twice the speed of sound.

　

　 　 The prototype of "Dart Yellow" draws lessons from the ivory woodpecker, which is native to Colombia, Guyana, Bolivia and eastern Brazil in South America. The male bird has crested feathers and the color ranges from light yellow, beige to yellow. The transition of this color was shown in detail in "Dart Yellow", and the artists also painted the fluffy texture of feathers in detail. Many fans said that they couldn’t help touching these lovely birds.

　

　 　 In the film, "Dart Yellow" and "Fat Red" met in the "Anger Management Class". These two marginalized birds have some similarities, but they are quite different in character. "Dart Yellow" is gifted in speed. Knowing this, it also likes to shuttle from one end of the island to the other. If it is praised, it will surely be complacent. Moreover, "Dart Yellow" has a strong winning and losing heart, and is very willing to be the topic center of everyone’s discussion.

　

　 　 Woodpeckers knock on trees about 500-600 times a day. They peck at wood very fast, almost twice the speed of sound, but they will neither get a concussion nor have a headache. It turns out that there are at least three layers of shock-proof devices on the woodpecker’s head, so imagine that "Dart Yellow" flies through many rooms in the pig castle in the end of the movie. The crackle is pierced beyond recognition by giant cactus and long sword, but it still passes through the wall smoothly, which should be because it has its own shock-proof property. In the game, "Dart Yellow" is also an attacking player that players like very much. Ordinary wood can’t beat it at all, and it can quickly break through wooden buildings to win the game.

　

The prototype of "Bomb Black" is starling.

"Bomb Black": Unlimited potential, explosive power and powerful prototype similar to myna.

　

　 　 "Bomb Black" seems to be less eye-catching than "Fat Red" and "Dart Yellow" in the movie, but it also has its own protagonist aura, so how can it be buried! In the film, he suffers from "intermittent explosion", and when he is frightened or feels too stressed, he can’t control his "power of the wild" and detonate instantly. However, the warm man will apologize gently after the explosion. It is so intimate that people can’t be angry with him.

　

　 　 The prototype of "Bomb Black", which is heavyweight in appearance but super sweet in character, is starling. Their appearance and size are similar to starling’s. Of course, starling will not explode by itself in reality. This bird will follow the cattle to peck at earthworms, etc. It is distributed in China, India, Myanmar and other countries. Look at its feathers and orange beak, which is exactly the same as "bomb black"! Starling’s head is bright black, but the rest of it is dark brown. The painter also paid special attention to this when shaping the shape of "bomb black". It can be clearly seen that its dark brown abdomen is not the same color as other places, so the overall color transition is also very detailed.

　

　 　 The explosive power of "Bomb Black" in the game is very strong (which is consistent with that in the movie). Compared with "Fat Red" and "Dart Yellow", its attack power is undoubtedly relatively fierce, which can easily sweep away roadblocks and blast other materials that are difficult for birds to deal with, such as reinforced concrete.

　　Reference message networkReported on September 8Russian media said that Moscow may follow the practice of many foreign megacities and open regular helicopter flights. A company in Moscow plans to start test flights in the suburbs of Moscow and the ring road area of Moscow in 2020 — — From the city to the airport.

　　According to a report by RIA Novosti on August 28th, Alexei fedotov, director of strategic partnership of "Yangjiekos Taxi" company, told reporters that Moscow may follow the practice of many foreign megacities and start regular helicopter flights.

　　According to the report, the company "Yangjiekos Taxi" recently signed an agreement with the technical company under the Russian helicopter company to establish an urban air mobility system at the 2019 Moscow Air Show. After the safety and profitability are confirmed, it is planned to start test flights in the suburbs of Moscow and the ring road area of Moscow in 2020. — From the city to the airport.

　　Fedotov pointed out that helicopter transportation in the city is nothing new, and megacities such as new york, Toronto, Sydney and Rio de Janeiro have developed.

　　After signing the contract, he said, "For us, this project is a demonstration ‘ Yangjiekos Taxi ’ The company’s intelligent algorithm helps people manage their time effectively, and the opening of regular helicopter flights can greatly reduce the flight cost of each passenger. "

　　According to the company’s information office, there will be "flying" mobile phone software in the future, offering the option of taking a helicopter instead of taking a bus in some sections.

　　Alexander Ohonoko, general manager of "Russian Helicopter Technology" company, told RIA Novosti that the price of a 15-minute "flying" in Moscow is expected to be around 3,000 rubles (about 45 US dollars).

　　He said: "International practice has proved that the cost of flying for 15 minutes is about 50 dollars per person. Moscow’s helicopter taxi business seat plans to charge 3,000 rubles per person and 2,700 rubles for ordinary seats. " (Compile/He Yingjun)

　　China Weather Network News Affected by surface cyclones, severe convective weather occurred in many places in Jiangsu yesterday (July 20th), among which Suqian Shuyang and Lianyungang Guannan were even hit by tornadoes. As a small-scale weather system, tornado has a short life, but it is extremely destructive. It comes as soon as it comes, and people can’t avoid it. Is there a rule for tornadoes to follow? China Weather Network analyzes meteorological big data to reveal when tornadoes are most frequent in China and which areas are more prone to them.

　　Tornadoes are extremely destructive and can blow cars and destroy houses.

　　Tornado, as a kind of strong destructive convective weather, is a small-scale air vortex produced under strong unstable weather conditions. The central wind force can reach 50-150 m/s, and the diameter is generally between several meters and hundreds of meters.

　　Tornadoes are generated and disappeared rapidly, often accompanied by strong convective weather systems such as thunderstorms, hail and heavy rain, which are extremely destructive. According to Fujita scale, the tornado strength is divided into six grades: EF0 to EF5, with EF0 being the lowest and EF5 being the highest.

　　Tornadoes of EF2 and above are generally called strong tornadoes, and EF2 tornadoes will cause considerable damage, which may lead to the uprooting of trees; EF3 tornadoes often cause serious damage, and trains may be blown down. EF4 tornado may cause destructive damage, good brick-wood structure and frame structure houses may be destroyed, and some houses will be shoveled and leveled by Qi Gen; The damage caused by EF5 tornado is devastating. The house with frame structure may be thrown out together with the foundation, the reinforced concrete structure building will be seriously damaged, and the car may be blown away.

　　Tornadoes have occurred in most parts of China, with the largest number in Jiangsu and Guangdong.

　　Global tornadoes mainly occur in mid-latitude areas, and tornadoes occur every year in North America, Europe, Russian Federation, China, Japanese and Australian, among which the United States is the country with the most tornadoes, with an average of 1,141 tornadoes recorded every year (from 2000 to 2020), which is called "Tornado Kingdom".

　　Tornadoes in China mainly occur in the eastern plain, and the middle and lower reaches of the Yangtze River are frequent areas. According to the statistical data of the National Climate Center from 1991 to 2020, there are 38 tornadoes every year in China, and there are more tornadoes in Jiangsu, Guangdong, Hubei and Anhui provinces, among which Jiangsu and Guangdong have the most tornadoes, with an average annual number of 4.8 and 4.3 respectively, followed by Hubei and Anhui, with two tornadoes.

　　Strong tornadoes occur frequently in spring and summer in China, and most frequently in July.

　　Spring and summer are tornado-prone seasons in China, and the number of tornadoes accounts for 92% of the whole year from April to August, with July accounting for the highest proportion, accounting for about 30%. Judging from the occurrence time of tornado of EF2 and above, it is also the most in July.

　　According to the statistical data of "Temporal and Spatial Distribution of loong Tornadoes", there were 165 tornadoes of EF2 and above in China from 1961 to 2010, and the occurrence time was mainly from April to August. Looking at a single month, July was the most, accounting for 28% of the total number of the year, followed by April.

　　In addition, the months of tornadoes in different regions are slightly different. South China frequently occurs from April to May, the middle and lower reaches of the Yangtze River frequently occur in April and July, North China frequently occurs from June to July, Northeast China frequently occurs from June to August, Southwest China mainly occurs from July to August, and Northwest China frequently experiences tornadoes in July.

　　Tornadoes prefer the afternoon and the evening.

　　In addition to seasonal differences, the time of the tornado’s haunting in one day also has certain rules, and the tornado prefers to "haunt" in the afternoon.

　　According to the statistical data of "Temporal and Spatial Distribution of loong Tornado", from 1961 to 2010, tornadoes occurred from 12: 00 to 20: 00, accounting for 70% of the total number of tornadoes whose time records can be found. The reason for the high incidence in this period is that the atmospheric stratification is unstable after daytime solar radiation, and strong convective weather is most likely to occur, which is easy to promote the formation and strengthening of tornado weather system.

　　In addition to the high-incidence period in the afternoon, the tornado often appears in the early hours of the morning. According to statistics, there are also 10 tornadoes generated from 0: 00 to 2: 00. Tornado occurred less in the morning, with the least occurrence from 10: 00 to 12: 00, only once.

　　There are 38 tornadoes in China every year, with a maximum of 75 in 2005.

　　Judging from the interannual changes, the periodicity of tornadoes is also obvious. According to the statistics of tornado data recorded from 1991 to 2020, there are an average of 38 tornadoes every year in China. There were relatively many tornadoes from the mid-1990s to the beginning of this century. There were relatively few tornadoes in the early 1990s and from 2006 to 2020. Among them, the number of tornadoes was the highest in 2005, reaching 75, and the least in 2020, only 13.

　　What should I do if I encounter a tornado?

　　Tornado is a kind of severe convective weather. After the tornado is formed, it usually lasts for ten minutes to several hours. Its attack range is small, but its destructive power is great. Once encountered, how should we defend ourselves?

　　First, if you are at home, be sure to stay away from doors, windows and the outer walls of houses, and hide in the wall or small room opposite to the tornado. The basement or semi-basement is the safest place to avoid the tornado;

　　Second, in the emergency of pole falling and house collapsing, the power supply should be cut off in time to prevent electric shock or fire;

　　Third, when there is a tornado outside the field, you should look for low-lying ground nearby, but stay away from trees, telephone poles, billboards, fences, etc. to avoid being smashed, crushed or electrocuted;

　　Fourth, when you encounter a tornado when you go out by car, you should drive in the opposite direction, or leave the car immediately and take shelter in a low-lying area.

　　Reference article:

　　[1] soldier said climate "tornado activity and climate characteristics in China and the United States"

　　[2] Fan Wenjie, Yu Xiaoding. 2015. Temporal and Spatial Distribution Characteristics of loong Volume. Meteorology, 41 (7): 793-805.

　　[3] National Climate Center "Why are severe convective weather frequent recently? The authoritative climate cause analysis is coming! 》

　　[4] Dapeng Huang, Zhao Shanshan, Gao Ge, et al. Study on the Characteristics of Tornado Disaster in China in Recent 30 Years [J]. Rainstorm Disaster, 2016,35 (2): 97-101.