Zhongxin Finance, April 16 (Xinhua) Guangdong Zhanjiang Marine Police Bureau recently seized two suspected cigarette smuggling cases, seized two suspected ships on the spot, and seized about 45,000 suspected smuggled cigarettes, involving about 8.6 million yuan. At present, two cases are under further investigation.

　　At 8 o’clock in the morning of March 31, Zhanjiang Marine Police Bureau was informed by intelligence that a "Dafei" speedboat was found in the waters near Tongming Port in Mazhang District, suspected of smuggling. The bureau quickly cooperated with the Mazhang District Public Security Bureau of Zhanjiang City to carry out joint land and sea investigations. At 9 o’clock, the target ship was seized in the waters near Lingtou Island. The ship was equipped with five high-powered engines and loaded with a batch of cigarettes. The ship failed to provide relevant legal procedures and certificates for the cigarettes, and law enforcement officers seized the ship and the cigarettes on the spot according to law. After counting, there are 11 types of cigarettes, totaling more than 23,000, with a case value of about 4.5 million yuan.

　　At 9 o’clock in the morning of April 4, the bureau received a tip again: a suspected smuggling "Dafei" ran aground in the waters off Xiagang Village, Xiayang Town, Xuwen. The bureau immediately launched a joint investigation operation with xuwen county Public Security Bureau, Xuwen Customs Anti-smuggling Branch and xuwen county Tobacco Monopoly Bureau. After investigation, the ship was loaded with more than 22,000 cigarettes, with a case value of about 4.1 million yuan. Law enforcement officers have seized the ship and its cigarettes according to law.

　　In the next step, Guangdong Zhanjiang Marine Police will strengthen cooperation with relevant functional departments such as public security, customs anti-smuggling and tobacco, actively dig deep and expand the line, resolutely break the network and remove the chain, maintain a high-pressure situation of cracking down on smuggling illegal and criminal activities, weave the control network of coastal waters, and resolutely build a maritime security line.

　　Which life insurance company sells the most electricity? What products sell best in Internet channels? Recently, insurance association of china’s "Analysis Report on Business Data of Electricity Sales Industry in the First Half of 2017" and "Report on Basic Situation of Property Insurance Network and Electricity Sales Market in the First Half of 2017" tell us that among life insurance companies, Ping An Life Insurance Company of China accounts for half of the country; In the internet channel of property insurance companies, accidental health insurance is the most popular among consumers in non-auto insurance business.

　　Life insurance sales in Ping An Life Insurance Company of China accounted for 47%.

　　From January to June, the annual premium of life insurance sales channels reached 10.7 billion yuan, an increase of 26% over the same period last year.

　　This 10.7 billion yuan premium income comes from 29 life insurance companies, including 18 Chinese companies and 11 foreign companies. Overall, Chinese-funded life insurance companies accounted for 79% of the market with a premium of 8.5 billion yuan. The premium income of Ping An Life Insurance Company of China, Taikang Life Insurance, Metropolitan Life Insurance, China Merchants Cigna and Sunshine Life Insurance are 5.04 billion yuan, 900 million yuan, 850 million yuan, 850 million yuan and 660 million yuan respectively, accounting for 77% of the premium income of life insurance telemarketing channels, while Ping An’s market share is as high as 47%, and the whole market is highly concentrated.

　　In the channel of life insurance telemarketing, accident insurance is the best seller, with a premium of 3.7 billion yuan in the first half of the year, accounting for 35% of life insurance telemarketing premium income; Life insurance premium is 3.1 billion yuan, accounting for 29%; Health insurance premium is 2.2 billion yuan, accounting for 21%; Annuity insurance realized a premium of 1.6 billion yuan, accounting for 15%. Although the proportion of annuity insurance is not high, the growth rate is as high as 274% year-on-year. It can be seen that people’s demand for old-age care is strong.

　　By the end of June, the sales manpower of life insurance telemarketing channels reached 71,000, an increase of 11% over the same period of last year. With the increase in manpower, the per capita production capacity has also increased, reaching 25,000 yuan from January to June, a year-on-year increase of 7.7%.

　　Among the 29 life insurance companies that carry out telemarketing business, 11 have a monthly per capita production capacity of 10,000 to 20,000 yuan, accounting for 38%; China Merchants Cigna, Everbright Yongming, Huaxia Life Insurance, Fude Life Insurance, Sino-Italian Life Insurance and ruitai Life Insurance have a monthly per capita production capacity exceeding the industry average, reaching more than 30,000 yuan.

　　Property insurance, electricity sales and auto insurance premiums accounted for 97.54%.

　　In the first six months of this year, the premium income of the electricity sales channel of property insurance companies was 49.974 billion yuan, accounting for 9.47% of the original premium income of property insurance companies, up 5.00% year-on-year, and the overall development was stable. In June, the income from telephone sales of auto insurance premiums was 7.388 billion yuan, of which Ping An Property Insurance was 3.728 billion yuan, up 19.50 year-on-year.

　　The data shows that from January to June, the auto insurance premium income of the sales channel of property insurance companies was 48.745 billion yuan, up 4.63% year-on-year, accounting for 97.54% of the premium income of the sales channel. This data has remained between 97% and 98% for 12 consecutive months. It can be said that the balanced growth of auto insurance premium income ensures the overall development of the electricity sales business.

　　Among the insurance premium income of auto insurance telemarketing channels, the insurance premium of auto insurance inbound business is 4.74 billion yuan, accounting for 9.72%; Auto insurance outbound business was 44.005 billion yuan, accounting for 90.28%, up 7.65 percentage points year-on-year.

　　In the telemarketing channel, non-auto insurance business accounted for only 2.46%, and the premium income in the first six months was 1.229 billion yuan, up 21.85% year-on-year.

　　The proportion of non-auto insurance business in online sales of property insurance rose to 34.25%.

　　Different from the steady development of electricity sales channels, the Internet channels of property insurance companies continued the overall downward trend in 2016. From January to June, the premium income of Internet channels of property insurance companies was 23.775 billion yuan, accounting for 4.51% of the original premium income of 527.586 billion yuan, with a year-on-year negative growth of 20.01%.

　　From the perspective of platforms, third-party platforms are the main contributors to the premium income of Internet channels. In the first half of the year, the premium income realized through the company’s PC official website was 4.393 billion yuan, accounting for 18.48%, a year-on-year decrease of 50.73 percentage points. Through mobile terminals (APP, WAP and WeChat, etc.), the premium income was 8.103 billion yuan, up 123.87% year-on-year, accounting for 34.08%, up 21.90 percentage points year-on-year. Among them, mobile APP is 6.213 billion yuan, official website mobile WAP is 568 million yuan, and WeChat platform is 1.323 billion yuan. Through the third-party platform (including professional intermediaries), the accumulated premium income was 10.512 billion yuan, up 102.26% year-on-year, and the business accounted for 44.22%, up 26.73 percentage points year-on-year.

　　From the business point of view, the auto insurance premium income was 15.631 billion yuan, with a negative growth of 38.82% year-on-year, basically maintaining at about 2.5 billion yuan per month, with no significant ups and downs. This is also the reason why the internet channels of property insurance companies continue to be sluggish. Since the reform of commercial auto insurance rate was officially implemented in the whole country in June 2016, the advantage of auto insurance premium income in the Internet channel has been impacted, and the premium in that month has dropped sharply. From the perspective of the whole year, the premium income of Internet auto insurance business in 2016 was 39.894 billion yuan, down 44.29% year-on-year. At present, the proportion of auto insurance business in the overall online sales business has been declining, accounting for 65.75% from January to June, down 20.22 percentage points year-on-year.

　　On the other hand, online sales of non-auto insurance business increased by 20.22 percentage points year-on-year, accounting for 34.25% of Internet channel premiums. Obviously, in the context of serving the Internet era, non-auto insurance products are constantly innovating, service capabilities are constantly improving, and the scope of protection is constantly increasing, and its importance is constantly highlighted.

　　In the non-auto insurance business, accident health insurance and return freight insurance are still the main products. In the first six months, the premium income of accidental health insurance was 4.204 billion yuan, accounting for 17.68% of the premium income of internet channels; Property insurance was 699 million yuan, accounting for 2.94%; Liability insurance was 897 million yuan, accounting for 3.77%; Credit guarantee insurance was 694 million yuan, accounting for 2.92%; Other non-auto insurance (mainly including return freight insurance) was 1.649 billion yuan, accounting for 6.94%. (Drawing Zhang Le)

　　A few days ago, the "third pillar" of China’s old-age insurance system ushered in institutional arrangements — — Personal pension system. According to the Opinions on Promoting the Development of Individual Pensions issued by the General Office of the State Council, it is necessary to promote the development of individual pensions that are suitable for China’s national conditions, supported by government policies, voluntarily participated by individuals, and are market-oriented, and are connected with basic old-age insurance and enterprise (occupational) annuities. Recently, the reporter was informed that the relevant supporting systems for the personal pension system are being formulated in full swing.

　　In addition to personal pension, another important component of the "third pillar", "other personal commercial pension financial business", has also achieved rapid development in recent years, with increasingly rich product categories. Under the increasingly severe situation of China’s aging population, it has become a consensus to improve the awareness of self-protection, plan the old-age life as early as possible and reasonably reserve pension funds. Many people in the industry suggested that three pillars should be planned according to personal financial situation, namely, basic old-age insurance, enterprise (occupational) annuity and commercial old-age finance; For the latter, it is necessary to rationally allocate savings, wealth management products and insurance products according to personal risk preferences to effectively spread risks.

　　Voluntary participation in personal pension

　　For many young people who are used to overdraft consumption, the key to reserve pension funds is to firmly export funds, avoid "moonlight" or even eat food, and let funds steadily precipitate and increase in value. The personal pension system being piloted in China can effectively avoid the problem of early withdrawal.

　　A few days ago, the General Office of the State Council issued the Opinions on Promoting the Development of Personal Pension, and the personal pension system was officially promulgated, which is of great significance for building a multi-level and multi-pillar pension insurance system in China. As we all know, China’s old-age insurance system contains "three pillars". The first pillar is the basic old-age insurance, which is relatively perfect at present and its coverage is constantly expanding; The second pillar is enterprise annuity and occupational annuity, which mainly play a supplementary role and are established by employers and their employees, and have a good development foundation; The third pillar is a little "insufficient", which lacks corresponding institutional arrangements, mainly including personal savings pension insurance and commercial pension insurance.

　　"Personal pension is a national institutional arrangement for the third pillar, which is conducive to adding an accumulation on the basis of basic old-age insurance, enterprise annuity and occupational annuity." Jong Li, Vice Minister of Ministry of Human Resources and Social Security, said that after retirement, he can earn another income, further improve the living standard after retirement, and make the life of the elderly more secure and quality.

　　How to participate? If you have already participated in the basic old-age insurance, you can choose to participate in the personal pension. The system adheres to the principle of voluntariness and is not mandatory. After that, individuals need to open two accounts: personal pension account and personal pension fund account. The former is used for information recording, inquiry and service, and the latter is used for payment, product purchase and income collection. "These two accounts are unique to each other. Participants can open them in various channels such as the national social insurance public service platform, the national people’s social government service platform, the electronic social security card, and commercial banks." Nie Mingxi, director of the Pension Insurance Department of the Ministry of Human Resources and Social Security, said that the above two accounts can be opened at one time through commercial bank channels.

　　How to invest? Individual pensions are paid by individuals, and participants can decide to participate in the whole process or part of the year. The upper limit of annual payment in the initial stage is 12,000 yuan, and participants can decide how much to pay. "Next, with the increase of per capita disposable income in urban and rural areas, the payment ceiling will be gradually increased in due course." Nie Mingxi said. After payment, the individual pension will be operated in a market-oriented way. Participants will independently purchase bank wealth management, savings deposits, commercial pension insurance, Public Offering of Fund, etc., and they can also make long-term, medium-term and short-term combinations. All the above operations are completed in the capital account, and there is no need to run multiple financial institutions. "From the mature experience abroad, participants can participate in the capital market and share the development dividend of the real economy through personal pensions." Lin Xiaozheng, head of the securities fund supervision department of China Securities Regulatory Commission, said.

　　How to collect it? Avoiding early withdrawal is a remarkable feature of personal pension, which is helpful to rationally plan personal pension reserves and effectively play a supplementary role in providing for the elderly. Specifically, the account funds are closed, and they can only enter and leave during the payment stage. Payment and investment income are accumulated in the account, and they can only be collected when they reach the corresponding age conditions.

　　Rational purchase of pension financing

　　In addition to personal pension, commercial pension finance represented by pension financing and exclusive commercial pension insurance is also an important part of the "third pillar" and has achieved rapid development in recent years.

　　Among them, pension financing has been enthusiastically subscribed by investors. The reporter learned from the Banking Financial Registration and Custody Center that by the end of the first quarter of 2022, four pilot institutions had sold 16 pension financial products, and more than 165,000 investors had subscribed for about 42 billion yuan. The amount raised far exceeded expectations, and some products were "in short supply". Many products in the first batch have raised the planned fundraising scale several times. In addition, on June 20th, two new pension financing products were officially closed. Up to now, the number of pension financing products has been expanded to 24.

　　There are not a few middle-aged people who favor old-age financial management. According to the data of the Banking Financial Registration and Custody Center, investors aged 40 to 50 account for 27%, and investors aged 30 to 40 account for nearly 20%, accounting for about 47% in total, accounting for nearly half of the total investors; Investors aged 50 to 60 accounted for the highest proportion, reaching 28%. "This reflects the extensiveness and urgency of investors’ demand for pension financing, and also shows that the market space for pension wealth is broad." Wang Hailu, chairman of ICBC Financial Management, said.

　　It is worth noting that due to the long term of pension financing, investors need to rationally measure the medium and long-term benefits, and should not regard pension financing as a channel for "making quick money". Judging from the pilot situation, the term of the first batch of closed-end products for pension financing is five years, and some products have specially set dividend clauses, which can meet some liquidity needs of investors during the holding period.

　　"Pension financing aims to guide investors to form a healthy and sustainable concept of pension financing, make scientific and reasonable planning for pension, and convert long-term funds in their hands into pension financial products according to their own reality." Dong Ximiao, chief researcher of Zhaolian Finance, said.

　　To this end, investors should focus on three factors when purchasing pension financing. First, consider your own pension needs and judge whether you need to make long-term pension investment; Second, consider your own capital situation and choose the investment method that suits you; Third, pay attention to the risk-return characteristics of pension financial products in combination with their own risk preferences, and choose pension financial products with matching risks.

　　Pension savings business will be launched.

　　Due to the diversification of the demand for pension reserves, correspondingly, the risk preferences covered by financial products should also be diversified, and not all of them should be concentrated on medium and high risk preferences. "China is a big savings country with a high savings rate. It should conform to the public’s savings habits, further enrich the supply of pension financial products, and form a supplement with pension financial products." Dong Ximiao said.

　　The reporter visited a number of bank outlets in Beijing and found that investors still have high demand for deposits, a low-risk product. Take the certificate of deposit as an example. Although its annual interest rate continues to fall, and the one-year interest rate is only 2.1%, it is not easy for investors to successfully buy it. As of June 20th, China Industrial and Commercial Bank showed that three of the four 3-year certificates of deposit on sale had been sold out, and the other one was only for new customers.

　　The launch of the "specific pension savings business pilot" is precisely to meet the pension financial needs of low-risk preference groups. "We are speeding up the research on the pilot of specific old-age savings business, and initially consider four large state-owned banks of industry, agriculture, China and construction to carry out pilot projects in some cities." The head of the large-scale banking department in China Banking and Insurance Regulatory Commission, China, revealed at the news briefing held a few days ago that this business takes into account both inclusiveness and pension, with long product term, stable income and guaranteed principal and interest, which can meet the pension needs of residents with low risk preference. Specifically, specific old-age savings products include lump-sum deposit and withdrawal, lump-sum deposit and withdrawal and lump-sum deposit and withdrawal. The product term is divided into four grades: 5 years, 10 years, 15 years and 20 years. Initially, the pilot scale of a single bank is 10 billion yuan, and the pilot period is tentatively set at one year.

　　It can be expected that the future pension financial business will gradually form a development pattern of multi-subject participation, multi-product supply and meeting diversified needs. Recently, China Banking and Insurance Regulatory Commission of China clearly stated in the Notice on Standardizing and Promoting the Development of Commercial Pension Financial Services that next, it will support and encourage banks and insurance institutions to develop commercial pension savings, commercial pension financing, commercial pension insurance, commercial pension and other pension financial services in accordance with the law. "But there is a bottom line. The commercial pension financial business must reflect the pension attribute, and the product term conforms to the long-term pension needs and life cycle characteristics of investors. At the same time, it is necessary to set corresponding binding requirements for fund collection to avoid short-term ‘ Fast forward and fast out ’ 。” The above-mentioned person in charge of China Banking and Insurance Regulatory Commission also said. (Economic Daily reporter Zi-yuan Guo)

　　Investigation motive

　　From the long hair of a female passenger in Chongqing West Railway Station being caught in a massage chair, to "Can the massage chair leave the cinema", and then to "The netizen complained that nearly 90% of the seats in high-speed railway station, Tai ‘an, Shandong Province are massage chairs, and the passengers had to sit on the floor" … … Recently, the related topics of "sharing massage chairs" frequently appeared in hot searches, which triggered a heated discussion among netizens.

　　In fact, the shared massage chair has been promoted for many years, and now it can be seen in many public places, such as stations, airports, shopping malls, cinemas and so on. What are the security risks of sharing massage chairs while providing convenience for consumers? Will the large-scale promotion of massage chairs in public places infringe on the legitimate rights and interests of consumers? With these questions, the reporter conducted an investigation and interview.

　　□ Our reporter Wen Lijuan

　　□ Intern Zheng Ting of this newspaper

　　When waiting for the bus, relax the calf muscles that are slightly nervous because of driving; Before the movie starts, use it to make a ceremonial ending for the day’s work; Tired of shopping, I spent more than ten minutes in the mall to make a SPA (decompression service) for my nervous shoulders and necks … …

　　With the development of sharing economy, shared massage chairs came into being. They are scattered in stations, airports, cinemas, shopping malls and office buildings. By imitating traditional massage techniques such as kneading, massage, back pounding and vibration, they can relieve muscle tension and relax the body and mind for consumers, and win the favor of many people with more affordable prices and just the right time.

　　However, a recent survey by the reporter of Rule of Law Daily found that while sharing massage chairs provides convenience for consumers, there are also some security risks, such as insufficient sanitation, damaged equipment skin, breakdown and disrepair. There are also interviewees who spit out and promote massage chairs in public places on a large scale, which occupies the space for setting ordinary seats and affects the normal exercise of the public’s right to rest.

　　A number of interviewed experts pointed out that sharing massage chairs is intended to enrich consumer demand and cannot be a "weapon" that harms consumers. No matter where the shared massage chair is laid, all parties concerned should do daily maintenance and cleaning to avoid accidents and endanger people’s safety.

　　Set up points in various public places

　　Not much investment and a lot of profit.

　　"For people like us who take overtime and business trips as their lives, it is the most intimate." Ms. Tian, who works in a foreign company in Beijing, is a big fan of the shared massage chair. She said that she has experienced the shared massage chair in almost all scenes.

　　Like Ms. Tian, many people are fans of sharing massage chairs. According to public data, in the peak period, the number of shared massage chairs laid nationwide exceeded 1 million in just one year. From cinemas to railway stations, airports and large supermarkets, shared massage chairs are set up everywhere.

　　The reporter recently visited Beijing Airport and several shopping malls and cinemas and found that some shopping malls have laid multiple shared massage chairs on each floor. Some cinemas have a special "massage chair rest area", and even there are many shared massage chairs in the viewing area.

　　On August 4th, the reporter saw in a shopping mall in Chaoyang, Beijing that eight shared massage chairs in the massage area on the second floor were full of people. Someone just started the massage service, someone is scanning the code, and others are sitting and enjoying the service. At Beijing Capital International Airport, the reporter noticed that there are many shared massage chairs in the waiting hall, almost all of which are full.

　　According to Zhang Shan (pseudonym), the head of a massage chair production company in Dongguan, Guangdong Province, sharing massage chairs does not require people to be on duty and distribute goods, with simple functions and low maintenance costs. Customers can enjoy the service after scanning the code and paying successfully. Each massage chair is monitored by remote data, and channel providers can check the status of massage chairs anytime and anywhere.

　　"Shared massage chairs are divided into two business models: direct sales and agency." Zhang Shan said that direct marketing means that massage chair manufacturers find channels such as shopping malls, cinemas and stations to negotiate through self-built platforms, and the manufacturers provide massage chairs free of charge, and the channel providers only need to provide venues, and the income is distributed through negotiation. For example, his production company buys raw materials on its own, develops corresponding products for specific places, and then talks with the cinema, paying rent for half a year to one year to put the products. "The company has put a total of 400,000 shared massage chairs in the inner halls of cinemas in China so far."

　　Agent means that massage chair manufacturers sell them in bulk to distributors and terminal operators. Zhang Shan introduced that their main customer groups are distributors and terminal operators. Manufacturers only produce and sell products, while distributors and terminal operators are responsible for the delivery and operation of products.

　　"If you have your own venue resources and directly lay equipment, the investment is low and the profit is high. Therefore, more and more agents are joining the sharing of massage chairs." Zhang Shan said that compared with the direct sales model, the agency model enables more people to participate in the shared massage chair industry.

　　To save cost and reduce maintenance

　　Poor hygiene and safety are hidden dangers.

　　As a business cooperation model, sharing massage chairs into these public places is a normal market behavior, but from the consumer experience, it has been questioned more and more.

　　Ms. Liang, who lives in Shunde, Guangdong, and her husband used to go for a walk in the shopping mall near their home after dinner. When they saw the shared massage chair, they scanned the code and sat on it, but after the machine started, Ms. Liang felt very "chicken ribs".

　　"All I can feel is back massage and waist rubbing. Due to the height limitation, the shoulder massage pieces on both sides can’t touch the shoulders at all after being inflated, let alone relax. When the calf is pressed, it is almost lonely, and when it is inflated to the maximum, it can only feel that the ankle is squeezed. I am thin, and hand massage has no effect. " Ms. Liang said.

　　Ms. Zhou from Haikou, Hainan, also experienced "one money, two effects" when using the shared massage chair in the cinema. When watching movies, she adjusted the massage chair mode to massage her lower back and waist because she was worried that the sound of massaging her shoulders and neck would affect others’ viewing experience. When she got up the next morning, Ms. Zhou felt severe pain in her back and looked in the mirror and found a large bruise on her back.

　　"Shared massage chairs are generally made according to the average height and shape of adults, which is not completely applicable to some people who are obese or petite. At the same time, it is not suitable for patients with osteoporosis, shoulder and neck diseases, cardiovascular and cerebrovascular diseases, etc. If ordinary consumers use it improperly, it will easily cause physical damage. " Wang Yue, a professor at Peking University Institute of Medical Humanities, warned.

　　Hygiene is not enough, which is the common feeling of many users who share massage chairs.

　　Ms. Wu, from Changchun, Jilin, was tired from shopping with friends in the mall not long ago, and wanted to use the shared massage chair to relax. Unexpectedly, after sitting down, I immediately felt that the contact surface between pants and chair was wet, and I could smell a fishy smell. She carefully identified that there might be a pool of urine on the massage chair. "It really collapsed!" After contacting the mall for handling, the mall said that it was unable to supervise such incidents, and finally paid Ms. Wu’s laundry fee and massage chair coupons.

　　Ms. Luo, who lives in Zunyi, Guizhou, has a similar experience. When she returned to her hometown this summer vacation, she sat in the shared massage chair for nearly an hour because there were no empty seats waiting at the station. The next day, she found urticaria on the back of her thigh, and there was no obvious improvement after the injection.

　　"For the shared massage chairs in the waiting area of the cinema, we require daily cleaning and regular wiping of the visible parts of the massage chairs. The massage chairs in each cinema hall are cleaned irregularly, usually once a week. But there are often some ‘ Leather child ’ I like to step on the chair barefoot, and we can’t wait there all the time. " A cleaning aunt at a cinema in Chaoyang, Beijing, told reporters.

　　Respondents also reported that some shared massage chairs were not repaired in time after failure, which caused safety hazards and even safety accidents.

　　In July this year, a long hair of a female passenger in Chongqing West Railway Station was caught in a shared massage chair, which caused widespread concern among netizens. The investigation results showed that the cause of the accident was that the protective layer of the massage chair was damaged, and after the comprehensive investigation, it was found that other massage chairs were damaged.

　　For this kind of problem, some insiders told reporters that the shared massage chairs placed in public places such as shopping malls, cinemas and stations generally need to be cleaned and maintained by the users themselves, but many distributors are unwilling to maintain them regularly because of cost considerations.

　　"After the massage chair is put into operation, the manufacturer, distributor and terminal operator need to arrange personnel for daily maintenance. The machine needs to be disinfected once a week without special circumstances. If the machine is abnormal, the background system will have an alarm prompt. " Zhang Shan said that the maintenance cost is not a small expense, and the monthly operating cost of 400,000 shared massage chairs put in by his company is about 3 million to 4 million yuan.

　　According to Zhang Shan, the massage chair mainly composes the sales price of the product according to four aspects: the material cost of the product itself, the intelligent degree of the software, the production cost of the enterprise and the management cost of the enterprise. The purchase cost of products put in public places is about 2,500 yuan to 3,500 yuan. The shared massage chairs sold by the production company to the distributors and terminal operators are mainly maintained and repaired by the latter two. Only when the loss of shared massage chairs accumulates to a certain amount, the production company will provide certain maintenance services. Some dealers may choose to save daily maintenance fees in order to recover costs in time and save costs.

　　Suggest that harm is indispensable.

　　Intensify daily inspections.

　　A number of interviewed experts pointed out that the public has a certain demand for shared massage chairs, but they should not expand in disorder and occupy public space at will, but should be set up according to the characteristics of places. For example, in hospitals, stations and other places with dense traffic and tight seat resources, the number of shared massage chairs should be moderate, and should be set in relevant edges and corners; Shopping malls, cinemas and other commercial places can be set up, but the layout should be reasonable and compliant, and it is not allowed to occupy fire exits and affect people’s traffic. For some problems that occur in reality, such as the sharing of massage chairs that lead to physical injuries such as allergies, bruises, curly hair, etc., the person in charge of the venue and suppliers should bear the liability for compensation, and consumers should also learn to protect their rights according to law.

　　In Wang Yue’s view, the identity of users of shared massage chairs is diverse and uncertain, and it is impossible to confirm whether users have skin diseases or other infectious diseases, thus infecting leather chairs with germs. The person in charge of the venue where the massage chairs are placed needs to undertake the obligation of regular cleaning and keeping clean, but the causes of allergies or skin inflammation are various, and the fabric material of the massage chairs may also be one of the causes of diseases, which cannot be generalized.

　　"For the shared massage chairs in public places, the venue responsible party and the massage chair supplier should bear the responsibility of safety guarantee. Shopping malls provide massage chair services and need to ensure that they meet the basic requirements of protecting personal and property safety. " Chen Yinjiang, deputy secretary general of china law society Consumer Protection Law Research Association, said.

　　From the perspective of consumer rights protection, Chen Yinjiang believes that if improper or abnormal use is likely to cause harm, the relevant responsible party needs to make a clear explanation or warning to remind consumers of the precautions and correct use methods. If the product is not enough to protect personal and property safety, or the relevant safety tips are insufficient, thus causing personal injury or property loss to consumers, the relevant responsible party needs to bear the corresponding liability for compensation.

　　"In the event of personal injury or property loss, consumers should first keep relevant evidence in time and negotiate with service providers. If negotiation fails, you can complain to the Consumers Association or the relevant administrative departments and request to participate in mediation. If mediation still cannot be resolved, you can also defend your rights by applying for arbitration or court prosecution. " Chen Yinjiang said that the relevant responsible parties need to bear the liability for compensation, including medical expenses and reasonable transportation and lost time expenses.

　　"The key to solving the problem is that operators should operate in good faith and abide by the law, and actively safeguard the legitimate rights and interests of consumers." Chen Yinjiang said that the regulatory authorities should step up their daily inspections. If they find that there are obvious violations of laws and regulations in business practices, or obviously damage the rights and interests of consumers, they should promptly investigate and deal with them according to law, urge rectification, and ensure the provision of high-quality shared massage services for consumers.

　　According to the global box office list of Cat’s Eye Professional Edition, as of 19: 10 on February 13th, the total box office (including pre-sale and overseas box office) of the film "Nezha’s Devil Boy Naughty" (Nezha 2) exceeded 10 billion yuan, surpassing "Super Mario Bros. Movie" and entering the top 17 in the global box office list, becoming the first Asian film to enter the top 17 in the global box office list.

　　At the same time, in the global box office list of animated films, Nezha 2 came to the third place in the total box office, just one step away from Frozen II, and it is also the only non-Hollywood film of TOP5 animated films at the box office.

　　As of 14: 43 today, the number of people watching "Nezha 2" has exceeded 200 million, making it the first film in China’s film history with a number of people watching more than 200 million. Previously, "Nezha 2" has become the double champion of the total box office and movie attendance in China film history, and even broke the highest box office record in a single market in the world.

　　Overseas box office exceeds 8 million

　　It is worth mentioning that the aforementioned list also shows that the overseas box office of "Nezha 2" exceeded 8 million yuan.

　　According to the latest official news, the first overseas release areas of Nezha 2 are scheduled. From February 13th, Nezha 2 will be shown in overseas markets such as Australia, New Zealand, Fiji, Papua New Guinea, the United States and Canada.

　　"Nezha 2" official also released an international poster, saying that it "breaks thousands of waves and crosses thousands of mountains. Travel around the world and meet you. See Nezha overseas, brightening the whole of heaven! "

　　According to the data of Cat’s Eye Professional Edition on February 12th, the total box office of Nezha 2 is predicted to be 16.033 billion yuan, which will reach the top of the global animated film box office list and hit the top five in the global box office list. On February 12th, Lighthouse Professional predicted that the total box office of Nezha 2 would reach 15.338 billion yuan.

　　The market value of producers surged by 57 billion.

　　It is the stock price of the producer () (300251.SZ) that soared with the box office of Nezha 2.

　　As of today’s close, Light Media once again had a daily limit of 20CM, and its total market value rose to 84.9 billion yuan, a record high. Previously, the company had been trading daily for three consecutive trading days.

　　Earlier, at the close of January 27th, the market value of Light Media was about 28 billion yuan, which means that in just seven trading days after the Spring Festival, the market value of the company soared by about 57 billion yuan.

　　At present, Enlight Media has become a listed company with the highest A-share market value.

　　The data shows that from February 5 to February 13, the growth rate of Light Media in the seven trading days after the festival exceeded 203%. Its share price rose from the closing price of 9.53 yuan per share years ago to 28.94 yuan per share today.

　　Driven by "Nezha 2", A-share film and television stocks continued to be strong today, with () (002739.SZ), () (603103.SH) and other daily limit, () (300133.SZ) and () (300027.SZ) all surged.

　　Or contribute about 2 billion revenue.

　　It is understood that the film "Nezha 2" is divided into 43% (film side) and 57% (cinema side). After deducting the corresponding taxes and issuance costs, the company can confirm the income according to the investment proportion. According to the data of Cat’s Eye Professional Edition, 39.32% of the box office of "Nezha 2" is divided into sub-accounts.

　　On the evening of February 5th, Light Media announced that as of February 4th, the cumulative box office revenue of Nezha 2 was about RMB 4.84 billion, exceeding 50% of the operating income of the company’s audited consolidated financial statements in the latest fiscal year. The company’s operating income from the film is about 950 million yuan to 1.010 billion yuan.

　　According to the announcement, the film is being shown, and the final box office income is subject to the statement officially confirmed by the cinemas in Chinese mainland. At the same time, the film’s copyright sales revenue in Chinese mainland and overseas distribution revenue have not been settled. There may be differences between the operating income such as box office income and the actual identifiable operating income of the company.

　　According to this calculation, at present, the box office of Nezha 2 has exceeded 10 billion yuan, and the revenue of Light Media from this film may be 1.96 billion yuan to 2.09 billion yuan; If the final box office of "Nezha 2" reaches the predicted 16 billion yuan, perhaps the light media can share more than 3 billion yuan.

　　The financial report shows that Light Media’s revenue in 2023 was 1.546 billion yuan, and its net profit returned to its mother was 418 million yuan. In the first three quarters of 2024, the revenue was 1.442 billion yuan and the net profit returned to the mother was 461 million yuan.

[2023] No.56

Party: Jiangxi Star Technology Co., Ltd. (hereinafter referred to as Star Technology), and its domicile is Building B1 of Zhoujiang Intelligent Manufacturing Industrial Park, Pingxiang Economic Development Zone, Pingxiang City, Jiangxi Province.

Liu Jianxun, male, born in December 1962, was then the chairman of Star Technology, and his address was Anyuan District, Pingxiang City, Jiangxi Province.

Liu Langwen, male, born in July 1973, was then deputy general manager and chairman of Star Technology, and his address was Longgang District, Shenzhen City, Guangdong Province.

Pan Qingshou, male, born in September 1969, was then the director and general manager of Star Technology, and his address was Xianyou County, Putian City, Fujian Province.

Yang Shuming, male, born in October 1965, was then the deputy financial director of Star Technology, the general manager of the financial center and the assistant to the president of the financial center. His address was Hecheng District, Huaihua City, Hunan Province.

Zhang Shaohuai, male, born in September 1969, was then the supervisor of Star Technology, and his address was Pingxiang Development Zone, Jiangxi Province.

Chen Meifen, female, born in May 1969, was then the financial director of Star Technology, and her address was Jiaojiang District, Taizhou City, Zhejiang Province.

Li Juan, female, born in March 1977, was a supervisor of Star Technology, and her address was Longhua District, Shenzhen City, Guangdong Province.

Wang Jun, male, born in August 1973, was then the deputy general manager of Star Technology, and his address was Nanshan District, Shenzhen City, Guangdong Province.

Dong Shenglian, male, born in July 1974, was then the financial director of Star Technology, and his address was xiangdong district, Pingxiang City, Jiangxi Province.

According to the relevant provisions of the Securities Law of People’s Republic of China (PRC) (hereinafter referred to as "Securities Law"), I will investigate and hear the illegal behavior of Star Science and Technology Information Disclosure, and inform the parties of the facts, reasons, basis and rights enjoyed by the parties according to law. At the request of the parties Liu Jianxun, Liu Langwen, Pan Qingshou and Yang Shuming, we held a hearing on February 24, 2023, and listened to the statements and arguments of the parties and their agents. The party Chen Meifen made a statement and defense, but did not ask for a hearing. The case has been investigated and the trial has ended.

It has been found that Star Technology has the following illegal facts:

On April 29th, 2020, Star Technology’s annual report for 2019 revealed that the operating income, operating cost and total profit during the reporting period were 6,343,779,400 yuan, 5,323,872,400 yuan and 154,217,800 yuan respectively. On April 24, 2021, Star Technology’s 2020 annual report revealed that during the reporting period, the operating income was 8,298,158,000 yuan, the operating cost was 7,178,026,100 yuan, and the total profit was 43,770,500 yuan.

First, Star Technology inflated its operating income and total profit.

(A) Star Technology fictional sales business, inflated operating income

In 2019, fictional sales businesses such as Jiangxi Yihong Electronic Technology Co., Ltd. (formerly known as Jiangxi Xingxing Technology Co., Ltd., hereinafter referred to as Jiangxi Xingxing) and Pingxiang Xingxing Touch Technology Co., Ltd. (formerly known as Xingxing Touch Technology (Shenzhen) Co., Ltd., hereinafter referred to as Star Touch) inflated their operating income by 1,383,816,600 yuan.

In 2020, Star Technology subsidiaries Jiangxi Star, Star Touch, Star Precision Technology (Shenzhen) Co., Ltd. (hereinafter referred to as Star Precision) and Guangdong Xingchi Optoelectronic Technology Co., Ltd. (formerly known as Guangdong Star Optoelectronic Technology Co., Ltd., hereinafter referred to as Guangdong Star) and other fictitious sales businesses inflated their operating income by 3,192,179,000 yuan.

(B) Star Technology fictional leasing and processing business, inflated operating income.

In 2019, Star Technology subsidiary Star Precision, Star Touch and other fictitious leasing and processing businesses inflated its operating income by 55,193,600 yuan.

In 2020, Star Technology subsidiary Star Precision, Star Touch and other fictitious leasing and processing businesses inflated its operating income by 65,813,200 yuan.

(C) Star Technology fictional procurement business, inflated operating costs

In 2019, Star Touch, Jiangxi Star, a subsidiary of Star Technology, made fictitious purchases with a total amount of 401,652,100 yuan.

In 2020, Star Touch, Star Precision, Jiangxi Star and Guangdong Star, subsidiaries of Star Technology, made fictitious purchases, totaling 1,573,714,200 yuan.

(D) Star Technology falsely reduced operating costs through false purchase discounts.

In 2019 and 2020, Star Touch, a subsidiary of Star Technology, agreed on false discounts with suppliers. Through false discounts, Star Technology reduced its operating costs by 4,199,100 yuan and 1,548,100 yuan in 2019 and 2020 respectively.

After investigation, through the above fictitious sales, fictitious leasing and processing business, fictitious purchase and false purchase discount, Star Technology inflated its operating income by 1,439,010,200 yuan in 2019, inflated its operating cost by 265,101,600 yuan, and inflated its total profit by 1,173,908,600 yuan (excluding adjustments such as taxes and period expenses), accounting for 220% of the disclosed operating income in the current period respectively. In 2020, Star Technology inflated its operating income by 3,257,992,200 yuan, inflated its operating cost by 1,594,928,300 yuan, and inflated its total profit by 1,663,063,900 yuan (excluding the adjustment of taxes and period expenses), accounting for 39.26% of the disclosed operating income, 22.22% of the operating cost and 32.22% of the total profit respectively.

Star Technology held the 33rd meeting of the 4th Board of Directors and the 15th meeting of the 4th Board of Supervisors on December 24th, 2021, reviewed and approved the Proposal on Correction of Accounting Errors in the Previous Period and disclosed the announcement of accounting errors correction on December 30th, 2021.

Second, Star Technology understated the impairment loss of goodwill.

Star Technology completed the acquisition of 100% equity of Star Touch and Star Precision in December 2013 and July 2015 respectively. As of December 31, 2019, the book balance of goodwill formed by Star Technology’s acquisition of Star Touch and Star Precision was 305,939,200 yuan and 569,983,200 yuan respectively. Star Technology’s 2019 annual report and 2020 annual report disclosed that the goodwill formed by Star Technology’s acquisition of Star Touch and Star Precision has not been impaired.

After investigation, through the above-mentioned fictitious sales, fictitious leasing and processing business, Star Touch inflated its income by 200,332,600 yuan and 188,883,400 yuan respectively in 2019 and 2020; In 2019 and 2020, Star Precision inflated its income by 281,745,300 yuan and 492,768,500 yuan respectively. In 2019 and 2020, Star Technology conducted the goodwill impairment test on Star Touch and Star Precision based on incorrect financial basic data, resulting in less provision for goodwill impairment loss.

On December 30, 2021, Star Technology disclosed the announcement of accounting error correction, and the goodwill formed by Star Technology’s acquisition of Star Touch and Star Precision was impaired on December 31, 2019 and December 31, 2020. After the correction, Star Technology made a supplementary provision for impairment loss of goodwill of RMB146,719,600 in 2019, including RMB49,010,100 for the goodwill formed by the acquisition of Star Touch and RMB97,709,400 for the goodwill formed by the acquisition of Star Precision. In 2020, the impairment loss of goodwill was 729,202,800 yuan, including 256,929,100 yuan from the acquisition of Star Touch and 472,273,700 yuan from the acquisition of Star Precision.

In summary, there are false records in the 2019 annual report and the 2020 annual report of Star Technology.

The above-mentioned illegal facts are proved by relevant periodic reports, financial materials, explanations of the situation, bank flow, transcripts of relevant personnel’s inquiries and other evidence, which is enough to be identified.

The above-mentioned behavior of Star Science and Technology violates the provision of Paragraph 2 of Article 78 of the Securities Law that "the information disclosed by the information disclosure obligor shall be true, accurate, complete, concise and clear, and easy to understand, and there shall be no false records, misleading statements or major omissions", which constitutes the behavior of Paragraph 2 of Article 197 of the Securities Law that "the report submitted or the information disclosed by the information disclosure obligor has false records, misleading statements or major omissions".

Liu Jianxun, then Chairman, Pan Qingshou, then Director and General Manager, Liu Langwen, then Deputy General Manager, then Chief Financial Officer Chen Meifen, then Supervisors Zhang Shaohuai and Li Juan guaranteed the truthfulness, accuracy and completeness of Star Technology’s 2019 annual report, and signed written confirmation opinions on the annual report.

Liu Langwen, then chairman, Pan Qingshou, then director and general manager, then Wang Jun, then deputy general manager, then Dong Shenglian, then chief financial officer, then supervisors Zhang Shaohuai and Li Juan, guaranteed the truthfulness, accuracy and completeness of the 2020 annual report of Star Technology, and signed written confirmation opinions on the annual report.

The directors, supervisors and senior managers of Star Technology violated the provisions of the third paragraph of Article 82 of the Securities Law and the provisions of Article 58 of the Measures for the Administration of Information Disclosure of Listed Companies, which constituted the situation described in the second paragraph of Article 197 of the Securities Law. Among them, Liu Jianxun, then the chairman, Pan Qingshou, then the director and general manager, and Liu Langwen, then the chairman, organized and implemented the illegal acts of Star Science and Technology Information Disclosure, and was the person in charge who was directly responsible for the illegal disclosure of Star Science and Technology Information. At that time, supervisors Zhang Shaohuai and Li Juan, then deputy general manager Wang Jun, then chief financial officers Chen Meifen and Dong Shenglian were not diligent in their duties, and they were other persons directly responsible for the illegal disclosure of information on Star Science and Technology.

From July 2019 to October 2021, Yang Shuming served as deputy director of finance, general manager of financial center and assistant to president of financial center. Although he was not a director, supervisor or senior manager of Star Technology, he played a major role in illegal activities of information disclosure of Star Technology, and was one of the main participants and implementers of illegal activities of information disclosure of Star Technology. According to Article 17 of the Rules for the Determination of Administrative Responsibility for Illegal Information Disclosure, if a company organizes, participates in or implements illegal information disclosure or directly leads to illegal information disclosure, it shall be determined as the directly responsible person in charge or other directly responsible personnel according to the situation. Yang Shuming is the other directly responsible person for illegal information disclosure of Star Science and Technology.

Liu Jianxun and his agent put forward in their statements and hearings: First, there is no subjective intention or subjective fault in carrying out illegal acts in Liu Jianxun, and the illegal disclosure of information by Star Technology was organized and instigated by others. Second, Liu Jianxun violated the law for the first time with slight harmful consequences and corrected it in time. Liu Jianxun resigned as the director and chairman of Star Technology in February, 2021, and Star Technology has committed illegal accounting errors in August, 2021, which should be regarded as timely termination of illegal acts. At the same time, the main purpose of Star Technology’s illegal disclosure is to avoid the serious consequences of delisting and facilitate bank financing. Star technology has been reorganized successfully, and the harmful consequences of illegal disclosure of information are slight. Third, the financial fraud of Star Technology occurred in 2019, and its punishment should be applied to the Securities Law of People’s Republic of China (PRC) revised in 2005. In summary, I request a mitigated punishment.

Liu Langwen and his agent put forward in their statements and hearings: First, Liu Langwen does not belong to the person in charge who is directly responsible for the illegal disclosure of scientific and technological information of Star. It did not participate in the preparation of the 2019 annual report and was not responsible for the preparation of the 2020 annual report. The financial fraud of Star Technology is inspired by others, and the relevant decisions have nothing to do with Liu Langwen. The signing of relevant reports is based on the requirements of others and the company, and I believe that the audit of professional accounting institutions will be checked. Second, Liu Langwen, as a professional manager, has no internal motivation and requirements for financial fraud. After taking over as chief financial officer and chairman, he has taken corresponding measures and put forward corresponding plans to squeeze the water out of financial statements as much as possible. Third, my life is difficult and I can’t afford to pay a high fine. In summary, I request a lighter punishment.

Pan Qingshou and his agent put forward in their statements and hearings: First, Pan Qingshou did not organize and implement the illegal information disclosure, and was unaware of the illegal information disclosure of Star Science and Technology, so he was not directly responsible; Second, Pan Qingshou did not participate in the company’s production, operation and management, but signed it under the impetus of others based on the professional opinions confirmed by financial personnel and audit institutions. In summary, I request exemption from punishment.

Yang Shuming and his agent put forward in their statements and hearings: first, inform the facts in advance that they are wrong. Yang Shuming has no illegal motive for making fraud, and all the fraud behaviors he has carried out are arranged by the company leaders and only play a secondary role. His behavior is a duty behavior, and the relevant responsibilities should be borne by the company and should not be recognized as the directly responsible personnel. Second, Yang Shuming has a variety of mitigating circumstances. He has repeatedly verbally requested to stop illegal activities; Cooperate with the company to take remedial measures, actively cooperate with the investigation of illegal acts, make meritorious deeds, and reduce harmful consequences. Third, the illegal acts in this case occurred in 2019 and 2020, and the Securities Law before the revision should be applied. To sum up, I request a reduction or exemption from punishment.

In her statement and defense, Chen Meifen pointed out that, first, I did not have the substantive management authority of the chief financial officer in 2019, and I did not understand the relevant situation of the 2019 annual report. In order to ensure a smooth transition, he left his post on June 9, 2020 after signing the 2019 annual report. Second, during his tenure, he actively fulfilled his due diligence obligations in accordance with regulations; Third, I can’t afford a fine of 800,000 yuan. In summary, I request exemption from punishment.

After review, I will think that:

(a) about Liu Jianxun’s statement and defense.

First, Liu Jianxun organized the company’s "annual report working group" to "beautify" financial statements; Signed the Business Intermediary Cooperation Agreement and the Decision on Data Adjustment of the Company’s 2020 Annual Report with the cooperative counterfeiting unit, and the evidence on file is sufficient to prove its illegal behavior in organizing and implementing Star Science and Technology information disclosure. Its defense that people are instructed to engage in illegal acts and have no subjective fault cannot be established.

Second, the total inflated profit of Star Technology in 2019 accounted for 761.20% of the total profit disclosed in the current period, which had serious harmful consequences. Star Technology’s self-examination and correction of accounting errors occurred after Liu Jianxun left his post in August 2021, but he did not take the initiative to eliminate or mitigate the harmful consequences of illegal acts, which did not meet the statutory mitigation or exemption from punishment.

Third, Star Technology’s 2019 annual report was disclosed on April 20, 2020. The illegal information disclosure occurred after the Securities Law revised in 2019 came into effect. It is not improper for me to apply the Securities Law revised in 2019.

(2) defense opinions about Liu Lang’s question

First, as the then financial director and chairman of Star Technology, Liu Langwen was a member of the company’s "annual report working group", and cooperated with the capital operation of "financial beautification" to organize and implement the illegal information disclosure of Star Technology. Liu Langwen’s defense of "squeezing the water in financial statements as much as possible" also proves that he knows and participates in illegal information disclosure. The excuse that it is not responsible for the preparation of the 2020 financial report, is instructed by others, and has no motivation for financial fraud cannot be established.

Second, we have comprehensively considered Liu Langwen’s illegal facts and his position and role in engaging in illegal acts, and made administrative penalties according to the facts, nature, circumstances and social harm of his illegal acts. There is nothing wrong with the amount of punishment.

(3) Arguments about Pan Qingshou

First, Pan Qingshou, as a member of the company’s "Annual Report Working Group", was responsible for internal and external coordination and organized and implemented the illegal information disclosure of Star Technology. Its defense that it did not organize the implementation of relevant illegal acts and did not know the relevant situation of Star Technology could not be established.

Second, Pan Qingshou, as the then director and general manager of Star Technology, should fulfill his duty of diligence, pay necessary attention to the relevant situation of the company, and ensure that the contents of the relevant annual report signed by him are true, accurate and complete. Believing in professional advice and signing under the impetus of others are not excuses.

(four) about Yang Shuming’s statement and defense.

First, Yang Shuming took the initiative to put forward the way of financial fraud, and was responsible for contacting relevant entities to cooperate with financial fraud, and coordinating the financial personnel of subsidiaries to implement it internally. Yang Shuming plays a major role in the illegal activities of Star Science and Technology Information Disclosure, and is one of the main participants and implementers of the illegal activities of Star Science and Technology Information Disclosure. The defense reasons such as performing duties and only playing a secondary role are not established.

Second, Yang Shuming’s cooperation in accounting error correction and investigation of Star Science and Technology in 2021 has been taken into account in the penalty.

Third, the illegal disclosure of Star Science and Technology information occurred after the Securities Law revised in 2019 came into effect, so it is not improper for me to apply the law.

(five) about Chen Meifen’s statement and defense.

As the then chief financial officer of Star Technology, Chen Meifen should take the initiative to understand and continuously pay attention to the company’s production, operation and financial situation. Chen Meifen said that she didn’t know the relevant details of the 2019 financial statements, but she still signed the 2019 annual report of Star Technology as the chief financial officer, which is a performance of not being diligent and conscientious. I will make administrative punishment based on the facts, nature, circumstances and social harm of the illegal acts of the parties concerned, and there is nothing wrong with the amount of punishment.

To sum up, I will not accept the opinions of the above parties.

According to the facts, nature, circumstances and social harm of the illegal acts of the parties concerned, and according to the provisions of the second paragraph of Article 197 of the Securities Law, I will decide:

1. Give a warning to Jiangxi Star Technology Co., Ltd. and impose a fine of 6 million yuan;

2. Give warnings to Liu Jianxun, Pan Qingshou and Liu Langwen, and impose fines of 4.5 million yuan respectively;

3. Give a warning to Yang Shuming and impose a fine of 3 million yuan;

4. Zhang Shaohuai and Chen Meifen were given warnings and fined 800,000 yuan respectively;

V. Li Juan, Wang Jun and Dong Shenglian were given warnings and fined 500,000 yuan respectively.

The above-mentioned parties shall remit the fine to the bank of China Securities Regulatory Commission: the business department of China CITIC Bank Beijing Branch (A/CNo.: 711101018980000162) within 15 days from the date of receiving this penalty decision, and the bank will directly turn it over to the state treasury, and send a copy of the payment voucher with the name of the party to the office of the Administrative Punishment Committee of China Securities Regulatory Commission for the record. If a party refuses to accept this punishment decision, he may apply to China Securities Regulatory Commission for administrative reconsideration within 60 days from the date of receiving this punishment decision, or bring an administrative lawsuit directly to the people’s court with jurisdiction within 6 months from the date of receiving this punishment decision. During the period of reconsideration and litigation, the above decision shall not be suspended.

China Securities Regulatory Commission

July 21, 2023

　　[Everyone talks about green development]

　　Author: Gu Yaqing (researcher at the Research Base of Anhui Provincial Party School [Anhui Administration College], Socialism with Chinese characteristics Theoretical System Research Center, Anhui Province)

　　The Yangtze River is the river with the richest biodiversity in China, with more than 4,300 species of aquatic organisms. Its unique ecosystem plays an irreplaceable role in maintaining biodiversity and ecological balance and ensuring national ecological security. At the same time, the Yangtze River is also a treasure house of aquatic germplasm resources in China, which has always been regarded as the original seed base and natural gene bank of economic fish.

　　However, for a long time, over-utilization of resources, engineering construction, environmental pollution, population growth and other factors have seriously threatened the survival of species resources in the Yangtze River, and the biodiversity of the Yangtze River has continued to decline. On March 1, 2021, the Law of People’s Republic of China (PRC) on the Protection of the Yangtze River came into effect, regulating the restoration of the ecological environment, and stipulating that the state should implement systematic management of the ecosystem of the Yangtze River basin, which is mainly based on natural restoration and combines natural restoration with artificial restoration; In the same year, the Ministry of Agriculture and Rural Affairs issued the Implementation Plan for Biodiversity Protection in the Yangtze River (2021— 2025) … … A series of laws, regulations, policies and measures have been promulgated, and local governments have actively implemented them. The biodiversity protection of the Yangtze River has entered a new historical period.

　　The process of mainstreaming biodiversity protection in the Yangtze River has been accelerated.

　　In recent years, the mainstream trend of biodiversity protection in China has been continuously strengthened. In December 2022, the 15th Conference of the Parties to the Convention on Biological Diversity adopted the Kunming-Montreal Global Biodiversity Framework, which drew a new blueprint for global biodiversity governance. In this context, biodiversity protection in the Yangtze River is also in the trend of mainstream promotion. In the great protection of the Yangtze River, from the integrated protection and restoration of mountains, rivers, fields, lakes, grass and sand to the promotion of green production and lifestyle, we need to make overall consideration and systematic promotion, aiming at gradually improving and restoring the ecosystem, enhancing the service function of the ecosystem and promoting the restoration of biodiversity. Therefore, the provinces and cities along the Yangtze River have taken active actions to strengthen the remediation of sewage outlets entering the Yangtze River, strengthen the protection and restoration of the ecological environment in the basin, improve the mechanism of capital investment and compensation, and work together to promote the protection of biodiversity in the Yangtze River. Especially in the protection of aquatic biodiversity in the Yangtze River, they have successively implemented actions such as "ten-year fishing ban", strengthening the protection of aquatic wildlife, organizing the monitoring of aquatic biological resources in key waters, and strengthening the protection of important habitats of aquatic organisms. The overall ecological environment in the Yangtze River Basin has been effectively improved, and the passive situation of biodiversity decline has been curbed.

　　Positive Effects of Diversity Protection from "Smiling Angels"

　　Since 1980, the population of Yangtze finless porpoise has rapidly declined. Relevant surveys show that the number of Yangtze finless porpoises was more than 2,700 in 1991, and only 1,012 were left in 2017. In 2021, the Yangtze finless porpoise was upgraded from a second-class protected wild animal to a first-class protected wild animal. In 2022, the scientific investigation of the Yangtze finless porpoise population organized by the Ministry of Agriculture and Rural Affairs showed that the number of Yangtze finless porpoises was 1,249. Compared with the scientific investigation in 2017, the number of finless porpoises increased by 23.42% in five years, and the population stopped falling and rebounded, showing a recovery growth.

　　In order to protect the Yangtze finless porpoise, a rare and endangered species, government departments and protection workers at all levels actively carry out three major protection measures: in-situ protection, ex situ protection and artificial breeding. China has established five ex-situ conservation groups of finless porpoises in Swan Island National Nature Reserve in Hubei, the new Yangtze River Silla National Nature Reserve, Hewangmiao Hunan Integrated Ridge Provincial Nature Reserve, Tongling Freshwater Dolphin National Nature Reserve in Anhui, and Anqing Xijiang Yangtze finless porpoise ex-situ conservation base. On July 5, 2023, the world’s first Yangtze finless porpoise, Taotao, celebrated its 18th birthday. After artificial breeding, "Taotao" has successively bred two Changjiang Dai finless porpoises "Hanbao" and "Xiaojiujiu" in Wuhan Baiju Dolphin Museum. Relevant data show that 13 nature reserves related to the Yangtze finless porpoise protection have been established in the Yangtze River basin, covering 40% of the Yangtze finless porpoise distribution waters and protecting nearly 80% of the population. In addition, with the establishment of "Yangtze finless porpoise protection network" and the strengthening of scientific and educational publicity activities, the public’s awareness of protecting the ecological environment of the Yangtze River has also been greatly improved. In recent years, people often see the "smiling angel" finless porpoise jumping by waves and splashing water in the waters of the main tributaries of the Yangtze River, which is also a strong proof of the phased achievements in the protection of the finless porpoise of the Yangtze River.

　　Plan and advance with a higher position, wider vision and greater strength.

　　Biodiversity reflects the essence and characteristics of ecosystem and is one of the fundamental indexes to evaluate the quality of ecological environment. As an important gene bank of species and living bank of natural aquatic resources in China, the biodiversity protection of the Yangtze River needs to be planned and promoted with a higher position, wider vision and greater efforts.

　　Optimize the spatial pattern of biodiversity protection and properly handle the relationship between protection and development.Coordinate the delineation and control of the three control lines of ecological protection red line, permanent basic farmland and urban development boundary, work out and implement the special plan for ecological protection and restoration of land space on the basis of the overall planning of land space, optimize and adjust the scope and functional zoning of nature reserves, and improve the construction of nature reserves system with national parks as the main body. At present, the vague understanding of "ecological protection restricts economic development" still exists, the overall planning of a few nature reserves conflicts with the overall planning of cities, the establishment of nature reserves has unreasonable functional zoning and overlapping phenomena, and some nature reserves have frequent human activities. Therefore, it is necessary to correctly treat the stage difficulties and long-term goals, correctly handle the relationship between protection and development, strengthen the comprehensive management of grass and sand in landscapes, forests, fields and lakes, rationally utilize ecological resources, promote the value transformation of biodiversity resources, actively explore the path of marketization to realize the value of high-quality ecological products, and form a good mechanism for sustainable utilization of biodiversity.

　　Pay attention to and accelerate the background investigation of biodiversity.At present, the overall trend of the decline of biodiversity in the Yangtze River has not been effectively curbed, and when biodiversity protection is carried out in various places, due to the unclear background, there is a lack of clear understanding of the target object and scope of biodiversity protection in the Yangtze River. Up to now, Yangtze River Fisheries Research Institute of Chinese Academy of Fishery Sciences has set up Chongqing Experimental Station of National Agricultural Science and Wuhan Experimental Station of National Fishery Resources and Environment, and Jiangsu, Hubei, Shanghai, Anhui and other provinces and cities have also carried out background surveys on biodiversity, striving to find out the background of biodiversity in the Yangtze River, grasp the dynamics and identify problems, and provide scientific basis for formulating policies related to biodiversity protection and enhancing the diversity, stability and sustainability of ecosystems.

　　Strengthen the effective connection of biodiversity protection in the whole basin and the functional coordination between departments.As the largest river in China, the Yangtze River has its main stream flowing through 11 provinces (autonomous regions and municipalities directly under the Central Government) and its tributaries extending to 8 provinces and autonomous regions. The biodiversity conservation area of the Yangtze River spans multiple administrative regions, and involves many departments, such as ecological environment, natural resources, forestry, agriculture, geology and minerals, water conservancy, ocean, public security, market, etc. In practice, it often happens that nature reserves span more than two administrative regions without a unified management organization, or although they have their own territorial management organizations, cross-regional management cannot be implemented due to administrative authority, resulting in timely and effective coordination and settlement of resource management and related affairs. Ecosystem diversity not only includes the diversity of ecosystem components, but also emphasizes the complexity of ecological processes and their dynamic changes. In the high-level protection of biodiversity in the Yangtze River, the whole basin needs to adhere to comprehensive management, systematic management and source management, break the shackles of administrative divisions, strengthen the coordination of tasks among functional departments, and clarify the relationship between powers and responsibilities, so as to keep the mother river alive forever.

　　Guangming Daily (October 14, 2023, 07 edition)

Porsche is testing prototypes for the redesigned Panamera, which could be the last model to feature an internal combustion engine.

The current Panamera, the second-generation model, was launched in 2017 and updated in 2021. Considering that the original Panamera has been on the market for about seven years, according to Porsche’s plans, we should see this Panamera debut as a third-generation model for the 2024 model year.

The redesigned Panamera will be based on the MSB platform, which is also debuting in the Panamera and supports Bentley’s Continental and Flying Spur models, but it may have an updated powertrain range. Although more powerful, the powertrain update is expected to focus on reducing emissions across the board, as well as increasing range and reducing the charging time of the plug-in hybrid powertrain.

The overall styling of the new third-generation Panamera will change, although this will be a subtle change, as is usually the case with Porsche. It is clear from the exposed test prototype that the headlights of the new car have a more square shape, which will also be equipped on the upcoming new Cayenne. In addition, a new interior design to match the Taycan’s higher-tech cabin is also planned.

As for the electric version of the Panamera, it has not yet been launched, but the electric version role is currently filled by Taycan, which is only a few inches shorter than the Panamera. Ultimately, while most Porsches will go electric in the future, the carmaker plans that by 2030, 80% of its sales will be electric vehicles, and the rest will be made up of Porsche 911 – Porsche’s final dance to the internal combustion engine.

　　On June 6, the Six Walnuts 2023 National Dealer Conference with the theme of "Marketing Upgrade · Brand Evergreen" was held in Tianjin. Many industry experts and national dealer representatives gathered together to discuss the development trends of cutting-edge industries. During the meeting, Six Walnuts released their future development strategies and marketing strategy deployment in the peak season of the Mid-Autumn Festival. With the attitude of gathering their peers, they sounded the horn of a comprehensive offensive to face the peak season of the Mid-Autumn Festival.

　　Experts point out that opportunities and challenges coexist. Six walnuts, as an industry-renowned 10 billion brand, continue to practice the principle of win-win for manufacturers, self-innovation and positive change. With the recovery of the market, they will be able to write a new chapter of high-quality development.

　　Phenomenal to sustainable redness, six walnuts achieve a century-old brand

　　Fan Zhaolin, general manager of Yangyuan Beverage, attended and addressed the conference. Industry experts such as Hua Shan, founder of Hua and Hua, professor Liu Chunxiong of Zhengzhou University, founder of New Marketing, and Lin Feng, chairperson of Jundu Consulting, shared cutting-edge views of the industry as guests.

　　After 26 years of wind and rain, Yangyuan and distributors joined hands to turn Six Walnuts from a large single product focusing on "mass nutrition" to the "category king" of walnut brain-boosting drinks, and created a commendable sales legend in the history of Chinese beverages. At this conference, Six Walnuts officially proposed the long-term development strategy of "100-year Yangyuan". Fan Zhaolin, general manager of Yangyuan Beverage, delivered a keynote speech on "Defining the end game and achieving 100-year Yangyuan". In the future, we will redefine the end game, continue to invest, and create a super category king. Through the comprehensive upgrade of products, brands, and marketing, combined with the competitive advantages of enterprises, we will continue to increase market sales and achieve brand evergreen.

　　In the history of the development of the fast-moving consumer goods industry, there have been many strong brands, but it is rare to see a century-old brand. The road to a century-old brand of Six Walnuts is not achieved overnight, let alone "born by luck". Hua Shan, the founder of Hua Yu Hua, said that rooted in the cultural mother, becoming the mother and strengthening the mother can build an evergreen foundation. The cultural mother of Six Walnuts comes from the deep-rooted walnut brain-building culture. Walnut brain-building is a traditional culture that has been passed down for thousands of years. In the future, often drinking six more walnuts with the brain will have at least a thousand years of vitality.

　　At the conference, Hua Shan started from the culture of "walnut brain" and interpreted the underlying logic of the "six walnut culture matrix" through super sign theory. He believes that the accumulation of "thousand-year traditional culture" is the emotional resonance and cultural resonance between brands and consumers in the depths of their hearts, awakening consumers’ potential cognition and health awareness, and injecting a steady stream of driving force into the six walnut brands in the future.

　　There are also experts from the nutrition industry who have deep resonance with this. Zheng Yulong, a member of the Chinese Nutrition Society and a national first-level nutritionist, answered the efficacy value of walnuts in a video, confirming from both nutrition and experimental research that walnuts can not only strengthen the brain, but also regulate blood lipids, antioxidants, anti-aging and other multiple nutritional effects. For walnut milk developed from walnuts, Zheng Yulong said that it is easier to drink and is also conducive to human absorption. Zheng Yulong recommended that you take six walnuts as a daily must-drink, providing a reasonable and feasible support for six walnuts to change from "optional consumption" to "daily rigid demand consumption".

　　If an enterprise wants to achieve brand longevity, brand power and product power are essential. It is necessary to have a "long-term clear strategy" from the brand, as well as the "value and quality" from the product being accepted by consumers. It is necessary to continuously advance the product power and brand power to step into the new opportunities under the industry change. Only then will such an enterprise be recognized by consumers in the market competition and enter the ranks of the evergreen brand.

　　Adapt to the era of consumer sovereignty, upgrade channel power and resource power, and deeply empower peak season sales

　　The core competitiveness of an enterprise is an ecological one. In addition to brand power and product power, channel power, organizational power, and resource power are also essential. The marketing model is a combination of the three forces.

　　China’s consumer market has fully entered the "consumer sovereignty era" from the "channel era". In today’s era of absolute dominance of independent consumption, FMCG brands can only maximize their satisfaction with consumer demand by constantly upgrading their marketing models. Six Walnuts’ in-depth distribution model has achieved brilliant and legendary results in the FMCG market. However, in the face of market changes in consumer demand diversification and channel fragmentation, Six Walnuts has actively responded and upgraded its marketing model to the two cores of "global in-depth distribution + full chain C-end operation". It is realizing the transformation of Six Walnuts from "gift consumption" to "daily rigid demand".

　　In this regard, the founder of New Marketing, Professor Liu Chunxiong of Zhengzhou University, gave high praise. He said that "Six Walnuts will increase the promotion of" BC integration "on the basis of doing a good job in the" large circulation "of traditional channels, relying on the whole population product matrix of Six Walnuts, which is of epoch-making significance." He predicted that Six Walnuts can achieve in-depth communication with consumers through the traditional model + BC integration, and actively change and have the courage to break through in the next step of market competition. In the future, marketing upgrades will surely be achieved and market brilliance will be created again.

　　For the marketing model of "full-chain C-end operation", Lin Feng, chairperson of Beijing Jundu Consulting Company and CEO of Chain One Chain Network Technology, also made an in-depth interpretation. He said that in reconstructing the global full-chain marketing model in the era of consumer sovereignty, Yangyuan Beverage relies on six walnut 2430 series products to carry out C-end operation, launch a marketing model upgrade strategy, lay out the new era consumer market, and complete the C-end operation transition from "focusing on large circulation" to "global deep distribution". New breakthroughs will surely occur.

　　At the end of the conference, in order to face the Mid-Autumn Festival peak season market, Six Walnuts officially announced the "Mid-Autumn Festival Peak Season Marketing Strategy Deployment", which brought more detailed tactics to dealers in terms of marketing, channels, products, services, etc., to complete the brand’s all-round consolidation and implement the actions.

　　Industry experts believe that as the "industrial wind vane" of the plant protein industry, Six Walnuts deeply understand that development requires long-term approach, patience in terms of time length, strategy in terms of pattern height, and focus in terms of industry depth. The successful holding of the Six Walnuts 2023 dealer conference has allowed everyone to see its ability and confidence, original intention and persistence, which means that Six Walnuts will open a new chapter of cohesion, co-construction and sharing, and will surely usher in a better win-win situation for manufacturers in the future.

With the release of Xiaomi 14, the price of 3999 yuan is still increasing without increasing the price. Lei Jun said that it may be the last time he saw 3999 yuan. This time, the upgrade of Xiaomi 14 is also very comprehensive, so what are its core upgrade highlights? Next, let’s take a look at it and see if it’s your dish.

In terms of performance, Snapdragon 8Gne3 can be said to have almost no rivals, and directly turned over Apple A17 Pro. At the same time, Xiaomi 14 also has LPDDR5X+UFS 4.0. With the cooling technology of annular cold pump, the game performance of Xiaomi 14 is also very strong. Among them, for 30 minutes, the temperature of the mobile phone was only about 43.2 degrees, but the frame rate was stable at 59.53 frames. I like to play games with a small screen mobile phone, and it’s really stable this time.

The screen size is still a 6.36-inch straight screen, which is comfortable to hold with one hand. Using Huaxing C8 screen, 1.5K resolution, 1-120HzLTPO variable refresh rate, local peak brightness of 1200nit, various eye protection and dimming blessing, the narrowest frame, 8.29mm thickness and 193g weight. This feel is really unmatched.

The camera is also fully upgraded, with a 32 million self-portrait neck brace in front and three 50-megapixel lenses in the rear. The main camera is 900, 1/1.31 inch of its own light and shadow hunter. Xiaomi 14 has dual OIS, Leica Summilux lens and F1.6 super aperture. Both telephoto and wide-angle are Samsung JN1 lenses, which support long-angle macro and floating telephoto. The performance does not lose the Pro version of Friends.

In other aspects, the battery capacity is 4610mAh, 90W wired fast charging, 50W wireless fast charging, 10W reverse wireless, and the surge P2 and surge G1 chips are all blessed. The detailed configuration is also a lot. Including infrared, NFC, IP68, customized version of X-axis motor, USB 3.2, WiFi 7, dual speakers and so on.

At the price, 8+256GB is still 3999, 12+256GB 4299, 16+512GB 4599, 16GB+1TB 4999. The price has not increased compared with the previous generation, but the storage has greatly improved compared with the previous generation. From the upgrade point of view, Xiaomi 14 is indeed very conscientious. Including storage, screen, performance, battery life, fast charge, face value, etc., it is indeed a 360-degree comprehensive upgrade. It is no wonder that the first pre-sale and some versions were snapped up. Did you buy Xiaomi 14?