Interview with director Gao Xixi: Many domestic dramas are not grounded and have no life atmosphere.

  Beijing, June 23rd (Yuan Xiuyue) Soldiers used to be one of Gao Xixi’s most important identities. In his most popular TV series, many of them are based on soldiers, such as Historical Sky, Happiness Like Flowers and A Bloody Sky. But now, how to shoot a good soldier has become a problem he has to think about.

  Recently, he put the story of "Eight Sons Joining the Army" on the big screen, because he was under a lot of pressure because it was a true story or a story from his hometown. Recently, Gao Xixi accepted an exclusive interview with a reporter from Zhongxin. com, and talked about his understanding of a series of new phenomena such as traffic, IP and suspended drama as a director.

  Talk about movies

  The main theme is not equal to not looking good.

  In southern Jiangxi in 1930s, a mother sent all her seven sons to the Red Army and went to the front of the battlefield. However, the war was ruthless, and six of the brothers died one after another, leaving only the eldest brother Yang Daniu.

  Man Zai, the youngest brother, found the eldest brother’s army with a passion and became an ordinary soldier. But he didn’t expect that it was not so easy to become a real soldier.

  This is the plot in the movie Eight Sons, which is adapted from a real history: during five "counter-encirclement campaigns", the old man Yang Rongxian of Ruijin, Jiangxi sent all eight sons to the front, and finally they all died on the battlefield.

  Gao Xixi first learned this story because of the tea-picking drama Eight Sons Joining the Army. However, when preparing for shooting, he did not copy the characters of tea-picking drama, but looked for inspiration from historical materials and dug up more details. The script was changed to more than a dozen drafts. In his view, the real power is infinite, so that the audience can feel that this happened and resonate with it.

  Since the project of Eight Sons, many people have called it the main theme film. Gao Xixi thinks that the main theme can also be beautiful, like many foreign war movies, it is not their main theme. "Presentation is very important." Gao Xixi said, so when filming Eight Sons, he thought it was not enough to talk about the mother sending her children to the battlefield, but also the growth of a character, who was an 18-year-old full cub.

  Gao Xixi once said that he was born a storyteller. As his daughter grows up, he also hopes that her can become an audience of his stories, including this Eight Sons. Therefore, he wants to show this film to young people and let them know the meaning of "hero".

  "This is actually a good-looking blockbuster." He said that in addition to showing the authenticity of the war, he also wanted to convey the warmth between mother and son and the feelings between brothers.

  Talk about TV series

  Some dramas are just ungrounded.

  June 16th is Gao Xixi’s 57th birthday, which was spent in the roadshow of Eight Sons. This year is still a busy year for him. Recently, he is shooting the TV series Power and Profit. In the past Shanghai TV Festival, he also served as the chairman of the jury of the Magnolia Award.

  From 1994 to now, Gao Xixi’s creation has never stopped, but in recent years, he can feel the changes in the film and television environment more and more.

  There are fewer and fewer viewers in front of the TV. Even when he watches videos himself, he turns on his computer or IPad. The film and television industry is booming with traffic and big IP, although he doesn’t quite understand what IP refers to now. Not long ago, he berated young actors for being afraid of suffering when filming, and he also went to a hot search. But as a director, he can’t throw all the pots to the actors.

  At the Shanghai TV Festival, when asked about the poor acting skills of the streaming stars, Gao Xixi said that the director was to blame for this phenomenon. "Because the works are presented by the director himself, if you want to compromise, then you have to bear other problems."

  Some network platforms tend to flow, and Gao Xixi thinks that he can understand from a market perspective. The environment is changing and he is trying new things. But when the network platform told him to have a "network sense", he was still a little confused.

  It took several years to prepare, and the time for filming slowly has passed. The pace of domestic drama creation is accelerating, but the number of good works does not seem to increase, especially the "suspended drama" with realistic themes frequently appears.

  Gao Xixi said that at the time of Magnolia Awards, he could see that some TV dramas were very ungrounded. An ordinary IT practitioner lived in a house wearing clothes that were totally out of line with his status and situation. Although it was beautiful, it had no life flavor.

  This reminds him that when he started filming "Ten Years of Marriage", many plots in the play really happened between him and his wife, and he also studied the scenes in the play again and again, trying to restore a primitive state of life.

  Talk about actors

  Dahong Ni is "unique"

  Gao Xixi has a close relationship with the Magnolia Award. Since New Shanghai Beach, he has been nominated for the Magnolia Award for Best Director for three times. Gao Xixi, who became the chairman of the jury this year, once claimed to be "drumming in his heart", because the creators of each work are acquaintances, and he always feels easy to offend people, and he is also shot while lying down.

  At the meeting of the judges, he once said that the intuitive feeling of the Magnolia Award was that the selection criteria were constantly improving. This is also reflected in the final result — — Dahong Ni and Jiang Wenli won the Best Actor and Actress.

  For Dahong Ni’s performance, Gao Xixi described it as "unique". The role of Su Daqiang can make everyone feel familiar, just like people around him.

  In the past two years, the topics of "the plight of middle-aged actresses" and "the Mesozoic actresses are green and yellow" have repeatedly sparked heated discussions. Gao Xixi has a different understanding of this. He believes that Tsing Yi has been scarce since ancient times, and it is not easy to find an actress who can support a big drama now. Many actresses have been on fire for a few years, and few can really stay. There is also the problem of presentation. Some actresses can play at a certain age, but if they play from 18 to 80, it will be a little difficult.

  From Deng Chao and Sun Li to Yin Tao and Chen Jianbin, Gao Xixi’s works have won the fame of many actors. When it comes to the criteria for choosing actors, Gao Xixi said that he is more concerned about the degree of matching with the role. Just like Liu Duanduan in Eight Sons, he took a fancy to the childishness of the actors, which is very similar to that of Manchu. In the recent film "Power and Profit", it is also the acting school of Yishui, Jiang Wenli, ZhangFeng yi, Guo Xiaodong … …

  As for what he will shoot later, he admits that he has always had a "heroic dream" and may also shoot heroic works. (End)

State Forestry Administration: Giant pandas are still endangered species.

  On September 4th, local time, at the World Conservation Union (IUCN) conference in Hawaii, USA, the organization reduced the threat level of giant pandas from endangered to vulnerable in its latest red list of endangered species. In response, the State Forestry Administration of China responded yesterday that according to the actual work situation and protection situation, the giant panda is still an endangered species, and it is still too early to lower the protection level of the giant panda. Lu Sicheng, Director-General of the World Wide Fund for Nature (WWF) in China, said that we should indeed be delighted with this achievement, but at the same time, it must be clear that wild giant pandas still face severe survival risks and still need more extensive protection measures.

  □ Change

  Giant pandas are degraded but still in danger of extinction.

  It is understood that IUCN is the largest and oldest global environmental protection organization in the world and the only international organization in the field of natural environmental protection and sustainable development as a permanent observer of the United Nations General Assembly. Founded in Fontainebleau, France in 1948, with its headquarters in Grand, Switzerland.

  IUCN’s Red List of Endangered Species has been compiled since 1963, and it is updated once every four years. It is considered to be the most comprehensive list to record the current situation of global animal and plant species protection and one of the most authoritative indicators of biodiversity.

  The list divides the species protection level into 9 levels, the highest is "extinction", followed by "wild extinction". The three levels of extremely dangerous, endangered and vulnerable are collectively called "threatened", followed by "near danger", "no danger", "lack of data" and "not evaluated".

  At the global conference held in Honolulu, Hawaii, USA, IUCN released the latest red list. According to the catalogue, due to the persistent efforts of China, the number of giant pandas is slowly increasing, so the rating of giant pandas is reduced from "endangered" to "vulnerable".

  According to the latest survey data released by China in February last year, by the end of 2013, there were 1,864 wild giant pandas in China, an increase of 16.8%.

  In a message published on its official website, IUCN said that the improvement of the living conditions of giant pandas "proves that the efforts of the China government to protect this animal are effective", including vigorously rebuilding the bamboo forests needed for pandas to live. But at the same time, climate change will lead to the main food for giant pandas in the next 80 years — — The number of bamboo has decreased by more than 35%, so its situation is "vulnerable" and it is still in danger of extinction, and extensive protection measures still need to be implemented.

  Four species of apes are only one step away from extinction.

  In addition, in this report, IUCN also mentioned that the situation of Tibetan antelopes has also improved, and the considerable growth has reduced the rating of Tibetan antelopes from "endangered" to "near-endangered" and removed the label of "threatened species" in one fell swoop.

  John Robinson, chief environmental officer of the Wildlife Conservation Society, another international environmental protection organization, told reporters: "Few species can be crossed off the (endangered) list, which shows that the protection measures are effective."

  However, in the global village, the living conditions of six anthropoid species, such as gorillas, are getting worse. IUCN said that the gorillas in East Africa, West Africa, Borneo and Sumatra are all in a state of "extreme danger" and "only one step away from extinction"; Chimpanzees and bonobos are listed as "endangered" species.

  The list specifically mentions that East African gorillas are "in danger". At present, there are only about 5,000 gorillas in the world, and they are still decreasing. In the past 20 years, war, hunting and human beings

  The occupation of habitat has caused the number of gorillas in East Africa to "catastrophically decrease by more than 70%".

  The number of East African lowland gorillas, a subspecies of East African gorillas, decreased sharply from 16,900 in 1994 to 3,800 in 2015. Fortunately, the number of another subspecies of mountain gorillas has increased slightly, but the number is only about 880.

  Experts point out that the biggest threat to gorillas is hunting.

  Inge Anderson, director-general of IUCN, said: "Today is a sad day, because the red list of IUCN shows that we are destroying some of our close relatives."

  In fact, not only animals, but also many plants around the world are gradually becoming extinct. In Hawaii, the venue of the IUCN Congress, 38 of the 415 local plants were rated as "extinct", 4 as "extinct in the wild" and 87% as "threatened".

  □ Respond to the high risk of semi-extinction of giant pandas in 33 local populations.

  Yesterday, in response to IUCN’s downgrade of the protection level of giant pandas, the State Forestry Administration responded that giant pandas are still endangered species, and it is too early to downgrade the protection level of giant pandas, and proposed four reasons why they should not be downgraded.

  According to the State Forestry Administration, the China government has attached great importance to the protection and management of giant pandas for a long time, and the protection of giant pandas has achieved initial results. According to the results of the fourth giant panda survey in China released in early 2015, the wild population of giant pandas increased from 1,596 in 2003 to 1,864 in 2013, an increase of 16.8%. The number of captive population increased from 164 to 375.

  However, the State Forestry Administration believes that IUCN’s report is a theoretical judgment based on relevant data and technical indicators. As the management department of giant panda protection, the State Forestry Administration thinks that giant pandas are still endangered species and it is too early to lower the protection level of giant pandas.

  At present, the threat and endangered status of giant pandas can not be ignored. If the protection level is lowered, the protection work will be neglected and lax, and the giant panda population and habitat will be irreversibly lost and destroyed, and the protection already obtained will soon be lost, especially some local small populations may become extinct at any time. Therefore, it is not alarmist to continue to emphasize the endangerment of giant pandas.

  > > the main reason

  Habitat fragmentation is still the main factor threatening its survival, and some local populations still face survival risks. Giant pandas are only distributed in narrow areas of Sichuan, Shaanxi and Gansu provinces. Due to natural isolation and human interference, the wild population of giant pandas is divided into 33 local populations. There are 22 populations with less than 30 individuals and the risk of extinction, 18 local populations with less than 10 individuals and high risk of extinction.

  ◎ The situation of population communication needs to be improved. Affected by habitat fragmentation, gene exchange among local populations of giant pandas is blocked. In addition, due to the influence of region and management system, there is insufficient gene communication among captive individuals in giant panda captivity units. It is necessary to further strengthen the gene exchange of giant pandas in order to maintain the genetic diversity of the whole population and maintain the vitality of the population.

  ◎ The impact of global climate change. According to IUCN, one third of the bamboo forests on which giant pandas depend may disappear in the next 80 years, which will have an immeasurable impact on the survival of giant pandas.

  ◎ Protection and management capabilities still need to be strengthened. In some giant panda distribution areas, there are insufficient investment in protection funds and generally low professional skills of front-line staff, which seriously restricts the effectiveness of giant panda protection and the ability of protection and management needs to be improved.

  □ Sound Giant Panda has become a symbol of wildlife protection in the 21st century.

  In fact, the giant panda is not only the national treasure of China, but also has a high status in the world. As one of the largest independent non-governmental environmental protection organizations in the world, the World Wide Fund for Nature (WWF) has a giant panda as its emblem. Peter scott, a naturalist and painter, one of the founders of WWF, designed the institutional logo of WWF based on the panda in 1961. In 1980, WWF became the first international organization to carry out protection work in China, and began to participate in the protection of giant pandas.

  Yesterday, Kyle Rambotti, global director-general of WWF, pointed out that the protection situation of giant pandas has brought together millions of people around the world to participate in the cause of wild species protection, find problems and make efforts to make changes. Today, the good living conditions of giant pandas have given us all a chance to see hope.

  Lu Sicheng, Director-General of WWF China, said, "We should be delighted with this achievement, but at the same time, we must be aware that wild giant pandas still face severe survival risks, and a considerable part of their habitats are threatened by various factors such as infrastructure construction. More importantly, the number of wild giant pandas in the world is only 1864. "

  "The giant panda represents the face of wild species protection in the 20th century: we must take decisive action to protect a species before it disappears forever." Rambotti said that although there is still uncertainty about the sustainable recovery of the giant panda population, it can become a symbol of wild species protection in the 21st century. It is believed that by establishing and deepening the cooperation among the government, local communities, non-governmental organizations, enterprises and individuals, we can jointly meet more complex protection challenges, protect the natural landscape and ensure the living environment of wild species closely related to the better life of mankind in the future.

  > > IUCN red list

  Nearly 30,000 species are close to extinction.

  IUCN’s Red List of Endangered Species is a list to measure the living conditions and threats of major species in the world. It was compiled in 1963, and the endangered species were divided into seven grades, from high to low, namely, extinction, wild extinction, extremely endangered, endangered, vulnerable, near endangered and non-endangered. Among them, extremely endangered, endangered and vulnerable species are collectively referred to as threatened species.

  Today, this red list includes 82,954 species, making it the largest list of threatened species in the world. Among them, 23,928 species of animals and plants are classified as "extremely endangered", "endangered" or "vulnerable" and are in danger of extinction, accounting for about 29% of the assessed.

  Shi Haitao, a professor at Hainan Normal University and a reptile ecologist, said that the Red List of Endangered Species published by the World Conservation Union has a high authority and has a high recognition in the world at present. According to Shi Haitao, at present, more than 100 countries in the world recognize the Red List of Endangered Species published by the organization, including China. "Compared with other similar organizations, this number is quite high."

  Carlo Rondinini, a mammal expert at the Italian University of sapienza, said that compared with the Red List in 2008, nearly 28% of the mammals evaluated today are threatened with extinction, an increase of 3%.

  For example, the number of zebra in the plain has dropped from 660,000 to 500,000 in the past 14 years, and its rating has also been upgraded from "no danger" to "near danger". (Reporter Wei Zhang Ning Ma Jinfeng)

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Kuaishou cried and "beheaded" Simba?

Zhuge Liang beheaded Ma Su with tears, wanting to behead the general he once valued and appreciated very much. His heart was like a knife, and he was very sad. But for the military’s heart and for the society, it must be the same.

To this day, Kuaishou’s mood may be the same.

As the "first live streaming host of Kuaishou", Simba has been banned by Kuaishou many times for selling fake bird’s nests, public provocation, stepping on wars and other incidents, but each time there is a lot of thunder and little rain. After all, Kuaishou is inseparable from the trading volume and commercial value of the Simba family, and blocking Simba is equivalent to cutting off his own flesh.

Therefore, the drama of "love and kill" between Kuaishou and Simba continued for many years. Recently,Kuaishou seems to have "killed" Simba.

At present, Simba’s Kuaishou account has disappeared, and the accounts of all the artists under Xinxuan have been urgently restricted by the official. In other words, the Kuaishou accounts related to Simba are being banned one by one.

NetEase Technology’s "Attitude" column asked Kuaishou and Xin Xuan about the incident, but neither side responded.

Simba says he wants to "bring down the platform"

The cause of the incident was actually that Simba "bombarded" Taiyuan Lao Ge, Ma Hongtao and others for endless touching porcelain during his own large-scale live broadcast.

But this anger soon spread to the Kuaishou platform.

Simba said that Taiyuan Lao Ge, Ma Hongtao and others did not hesitate to forge recordings to spread rumors about him, but the platform’s reply to this was unaware.

He denounced that this platform connives at emotional live streaming host, pointing to the collection (emotional live streaming host) 500 million protection fee to live, "no chivalrous heart, no public morality", it is "garbage platform"!

Simba even said:If the platform does not seek justice for him, he will be interviewed to reveal the platform’s emotional script live streaming host and the platform’s dirty deeds. Friendly reminder to the platform, this move will "bring down the platform"!

A storm broke out in the live stream and then fell into a scolding war, and he would shout directly at every turn, which was basically Simba’s "regular operation".

But unlike usual, Kuaishou quickly, accurately, and ruthlessly banned Simba’s live stream.

But Simba did not give up, and then he continued to go LIVE with his apprentice Xiaoluo’s account, and still put cruel words to the platform. It did not take long for Xiaoluo’s account to be blocked.

The third time, Simba used his apprentice Xu Jie’s account to go LIVE. Without saying a word, the account was still banned.

At this moment, Simba has felt the "guillotine" raised by Kuaishou, but he is still determined to challenge the platform to the end.

He asked the live streaming host "Egg" of the Xin Xuan team to go off the air quickly, and notified all the live streaming hosts of Xin Xuan, and immediately announced the’rest of all ‘! "

In fact, Kuaishou has banned Simba several times before.

In December 2020, there were rumors that Kuaishou would permanently ban Simba for selling fake bird’s nests, with a final ban of 60 days.

In October 2021, Simba accused Kuaishou in the live stream of giving traffic to actors and not to himself, which was banned by the platform and lifted again shortly after.

In March 2023, Simba was banned by Kuaishou for 48 hours for accusing Kuaishou of condoning emotional live streaming hosts to create false popularity and false data, and deceiving the elderly.

But it can be seen that Kuaishou has always adhered to the principle of "making big things small and small things small" to Simba, which is more of a warning meaning. He did not really hit him hard, and he never investigated Simba’s personal behavior to the entire Xin Xuan group.

But this time, the signal has clearly changed.

Behind the banning of many accounts of Simba and his apprentices, Kuaishou’s spearhead is directly aimed at the entire "Simba family". The ruthlessness of the method is unprecedented, and it may be unbearable.

Kuaishou and Simba’s many years of enmity and hatred seem to be at the point of complete liquidation.

Can Kuaishou lose Simba?

The conflict between Kuaishou and Simba is a typical story of "success and defeat".

Simba used to be the live streaming host of Kuaishou integrating all resources, competing with Viya, Li Jiaqi and Luo Yonghao on behalf of Kuaishou, which brought huge attention and commercial value to Kuaishou.

The Simba family with Simba as the core has also become the "first family" among the six Kuaishou families, making great contributions to the performance of Kuaishou’s e-commerce.

Taking 2019 as an example, Kuaishou’s prospectus shows that Kuaishou e-commerce achieved a total GMV 59.60 billion that year, of which the Simba family accounted for nearly 22%.

During the Double Eleven period in 2020, Simba ranked third on the whole network with a total turnover of 12.115 billion yuan, following Viya and Li Jiaqi. The other three live streaming hosts of Xinxuan "Little Egg Friends", "Cat Sister Who Loves Food" and "Shi Damei" ranked among the top ten in the total list of live streaming goods with 7.526 billion, 3.78 billion and 3.339 billion respectively.

Entering 2021, the conflict between Simba and Kuaishou has begun to heat up, but the Simba family is still able to maintain a high level of market competitiveness.

100 days after the 2021 fake bird’s nest incident, Simba’s re-broadcast sales reached 2.043 billion, total sales 15.9879 million, and even sold 2.60 billion in the double 11 special live broadcast.

By 2022, the GMV of Xinxuan Group has reached 50 billion. That year, Double Eleven, Xinxuan accumulated 116 million orders, of which more than 100 domestic brands with sales exceeding 10 million and 14 domestic brands breaking 100 million.

In 2023, the head of the investment center of Xinxuan Group revealed to NetEase Technology’s "Attitude" column that after the half-stage of the Double 11 promotion, the entire group’s GMV had reached more than 9 billion yuan, and Xinxuan’s target for this year’s Double 11 was 10 billion yuan.

These achievements became the foundation of Simba’s challenge platform, and also made his behavior more and more "presumptuous". There were many incidents of public provocation, trolling, and insulting others in the live stream. Every time he was criticized by the public, it also had a huge impact on Kuaishou’s image and reputation.

In fact, Kuaishou has never stopped "de-Simbasification," or de-familization.In Kuaishou’s unique family live streaming hosting ecosystem, the value of private domain traffic is extremely high, but it is not conducive to its commercialization, and the platform ecosystem is always not rich enough.

In 2021, Zhang Yipeng, the head of Kuaishou’s e-commerce marketing center, publicly stated that the platform is willing to give a part of the very precious traffic to the middle waist, hoping that the Kuaishou platform can become an eco-rich e-commerce community, and Kuaishou’s investment in supporting small and medium-sized live streaming hosts is not capped.

At the time, Erdonkey, still one of the Kuaishou family, also said, "The traffic is scattered, and the official wants to cultivate 10 4 million accounts instead of one 40 million live streaming host."

No platform wants to be "kidnapped" by its own live streaming host.

The six families of Kuaishou (in addition to the Simba family, there are also the Sanda family of Sanda Brother, the Zhangmen family of the abbot, the sister-in-law of Zhang Erlai, the donkey family of Erdonkey, and the 716 family of Pai Pai Qi), under the continuous rectification of the platform, most of them have learned to "keep a low profile", and some have even "found no such person".

Perhaps the tit-for-tat confrontation between Kuaishou and Simba this time was accidental and inevitable.

At this time, it seems to be the best time for Kuaishou to "break up" with Simba. Kuaishou has been sparing no effort to build an e-commerce ecosystem. The latest financial report shows that in 2023, Kuaishou e-commerce GMV broke through the trillion-dollar scale for the first time and reached 1.18 trillion yuan, continuing to gain market share. Q4 e-commerce GMV hit a new high in a single quarter, growing 29.3% year-on-year to 403.90 billion yuan.

When Kuaishou’s e-commerce plate became the same, the Simba family’s GMV share in Kuaishou was decreasing year by year.

From 2019 to account for nearly one-third of the platform’s GMV, by 2020, Kuaishou’s total revenue 81.10 billion, GMV reached 680 billion, and the Simba family accounted for 6% of the total GMV; by 2022, Kuaishou’s annual GMV was 901.20 billion yuan, and the Simba family was about 50 billion yuan, accounting for 5.5%.

But in terms of long-term strategy, Kuaishou’s complete "rift" with Simba also faces considerable risks.

First, there is no "replacement for Simba" in the Kuaishou ecosystem, and there is no successor for the super live streaming host; second, Kuaishou has just turned losses into profits in 2023 and has fully entered the era of profitability. Losing Simba at this time point may affect the financial performance and even cause Kuaishou’s e-commerce to be completely left behind.

No matter how this tit-for-tat ends, there is no real winner between Simba and Kuaishou.

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The interior design of the Cadillac XT5 fully reflects the fusion of luxury and technology. The exquisite leather steering wheel provides a comfortable grip, with manual up and down + front and rear adjustment functions, which not only enhances the convenience of the driver, but also highlights its delicate humanized design. The center console is equipped with an 8-inch high definition touch screen, integrated multimedia system, navigation, telephone and air conditioning control functions, smooth operation and intuitive information display. The seats are made of imitation leather and leather, and the seats are rich in functions, including front and rear adjustment, backrest adjustment, high and low adjustment and waist support. The driver’s seat is also equipped with a power seat memory function to ensure the comfort of the occupant. The second row of seats can also be moved back and forth, and support backrest adjustment, making the space flexible and changeable. The overall interior design fully reflects Cadillac’s attention to detail and consideration of user experience.

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The Cadillac XT5 is powered by a powerful 2.0T turbocharged engine with a maximum power of 174 kilowatts, releasing 237 horsepower and torque of 350 Nm. Coupled with an efficient 9-speed automatic transmission, this engine ensures the smoothness and responsiveness of the vehicle during driving.

Overall, the Autohome owner is full of praise for the exterior design and spacious interior of the XT5, which he believes is the American luxury charm exuded by the Cadillac brand. This model undoubtedly satisfies his pursuit of high performance and comfort, allowing him to enjoy a distinguished experience during driving. On the road of the Cadillac XT5, both the appearance and the interior have become the focus of the owner’s satisfaction.

Whose "cheese" will China Evergrande liquidate?

After China Evergrande (hereinafter referred to as Evergrande) issued the liquidation order, the outside world launched a comprehensive discussion on the giant company, the most critical of which is what the company will go through in the next stage, which assets will be disposed of, and how will it end?

In order to better sort out the next step of Hengda, Blue Whale Finance and Huisheng International Capital President Huang Lichong, who has many years of experience in workout and bankruptcy reorganization, made in-depth exchanges and detailed combing.

The Hong Kong court issued a winding-up order to China Evergrande, the Hong Kong-listed platform with the stock code 03333.hk, which means that the company to be wound up is also an asset at the level of the listed platform, including the sale of shares held in subordinate "subsidiaries" and the potential liquidation (if found to be of material economic significance).

After the appointment of the liquidator, the work of the liquidator will also be carried out around the listing platform, including the disposal of physical assets, brands and intangible assets, but it is not responsible for solving the problems of all its subsidiaries, which is not a matter for the liquidator to consider. The matter for the liquidator to consider is how to get the most debt recovery for the creditors of the listed company. The recovery of shareholders will not be given priority. According to Evergrande’s situation, if there is no workout, the shareholders will basically have zero recovery.

What is winding up? Who does the liquidator serve?

This is the first step in understanding Evergrande’s next direction. According to Huang Lichong, the so-called liquidation means that the liquidation officer will dispose of the assets of China Evergrande listed companies after confirming that Evergrande is bankrupt, including valuable assets and the equity of its subsidiaries. However, from an "economic" perspective, only some assets and equity that can bring income to creditors will be dealt with, and the part that cannot bring debt recovery will not be cleaned up first. Whether to clean up without bringing debt recovery depends on the responsibility given to the liquidation officer by the court.

Liquidation and Bankruptcy. Conceptually, one is a means and the other is a legal definition. Liquidation is the process of closing down a company, in which the company’s assets are sold to repay debtors. This forced liquidation occurs when creditors, courts, or other interested parties demand that the company be dissolved. The ultimate purpose of liquidation is to end the existence of the company, realize the company’s assets, and distribute them to creditors in accordance with legal priority. Bankruptcy is a legal process that often involves the forced liquidation of a company, in which the company ceases operations and its assets are sold to pay off its debts.

The liquidator did not liquidate the assets of Hengda’s listed company at all levels, and liquidating the parent company did not mean that the subsidiary would be liquidated. The subsidiary would only be sold or apply for voluntary liquidation if the creditor recovery was increased. Because the liquidator’s responsibility was only to recover the last valuable assets for his creditors and shareholders, the subsidiary without recovery value would not be touched.

If the liquidated assets have no recovery value, but instead generate a lot of costs for the subsidiary, there will also be a statutory liability issue for the liquidator. The liquidator cannot spend too much of the liquidated company’s funds to bring valuable recovery to creditors.

In the process of disposing of assets, it is necessary to consider the cost comprehensively and maximize the return of creditors. The interests of Hengda equity holders are among the secondary considerations. This is the test of the liquidator. He needs to weigh which assets are worth clearing and find the corresponding receiver.

According to public information, Alvarez and Marsal, the liquidator appointed as China Evergrande, is an internationally renowned enterprise rescue and liquidation company.

After the appointment of a liquidator, what assets can he dispose of? Does he have the right to dispose of domestic assets?

Huang Lichong said that although the liquidator theoretically has the right to appoint directors of subsidiaries and then appoint directors of next-level companies to deal with all domestic and foreign assets of Evergrande, it must be sorted out according to the equity ownership relationship, and the creditor’s rights of non-listed companies can be repaid according to each level before distribution.

From the perspective of liquidators, they mainly serve the creditors of listed companies, considering that the assets that can be distributed to shareholders or creditors after liquidation may mainly come from overseas rather than domestic. Because most of the assets in China are mortgaged or preserved by domestic creditors, even if someone takes over, after distributing them to secured debtors and non-mortgaged domestic creditors, the assets that can achieve income distribution are estimated to be very small, or even zero.

For projects with ownership in China, the liquidator will send a letter informing them that the sale, disposal or major decisions of assets must be approved by the liquidator, but generally will not interfere with or even participate in the operation of domestic projects.

Huang Lichong believes that although Hengda has said that it will steadily promote the normal operation of the group’s business, after the liquidation order is issued, it will definitely have an impact on Hengda’s business operation. In the future, project companies in various regions can only seek "self-help" and "self-governance", and the flexible capital scheduling support from the group will be reduced. Coupled with the blessing of the liquidation order, the initiative and enthusiasm of Hengda’s management may be affected, and the layoff of redundant employees will also be accelerated.

How to deal with the subsidiaries of listed companies that cannot be sold by the liquidator in the future?

Mr. Huang said the assets could be wound up voluntarily and a new liquidator appointed by the court. He did not rule out a future workout with domestic creditors with the support of white warriors at the subsidiary level, and finally out of the control of China Evergrande.

Regarding China Evergrande’s Hengda property and Hengda Automobile, Huang Lichong said that property companies are likely to seek a sale, and Hengda Automobile may find it difficult to find a takeover target in the current environment, and it is difficult to say whether it will eventually follow in the footsteps of China Evergrande.

Huang Lichong pointed out that according to the bankruptcy liquidation schedule of Shenzhen Guangyao Group, the former took seven years, while for China Evergrande, which has a large amount of debt and a complex structure, the time to complete the liquidation will undoubtedly be longer.

Data show that as of the first half of 2023, Hengda’s total debt was 2.3882 trillion yuan, excluding the advance payment of the debt was 1.7842 trillion yuan, and the total assets were 1.7439 trillion yuan.

Huang Lichong estimates that after the entire Hengda Group is completely liquidated, Hengda’s relevant stakeholders, including suppliers, joint venture shareholders, shareholders of listed companies and various groups and group subsidiaries, after creditors recover the remaining value, including the previous share price loss, the estimated cumulative loss may reach 2.50 trillion yuan.

China Evergrande: More than 100 Hengchi 5 vehicles have been delivered as of December 7

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Lingao Volleyball Championship | "Flash" Fu Ping played an excellent host Lingao team defeated Chengmai team 3-1.


Original title: Lingao Volleyball Championship | "Flash" Fu Ping played an excellent host Lingao team defeated Chengmai team 3: 1.

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New Hainan Client, Nanhai Net February 18 th News (Reporter Liang Zhenwen) On February 18 th, the "Chinese Dream and Working Beauty"-"Witt Cup" 2024 Hainan (Lingao) Trade Union Elite Volleyball Championship was launched in Binjiang Park, Lingao County. In the second game, the host team Lingao vs Chengmai, and finally Lingao defeated Chengmai 3: 1.

Chengmai team (blue) played against Lingao team. Reporter Wang Chengxian photo

In the first game, both teams quickly entered the state, and the scores alternately led. Lingao team occupied the host advantage and always led by a small score. Lead by 14:12 through smash. Chengmai team took the lead in entering the timeout to adjust, but Lingao team was in a hot state, scoring continuously and continuing to lead at 16:12. The Lingao team entered the state earlier, and Fu Ping (nicknamed "Flash") on the 5th and Ke Xianxin on the 2nd successively scored points. Finally, Lingao team easily won the first game at 21:15.

Chengmai team (blue) played against Lingao team. Reporter Wang Chengxian photo

At the beginning of the second game, Chengmai team quickly adjusted its state and led Lingao team by 5:1 from the beginning. Forcing Lingao team to call a time-out for adjustment. Chengmai team destroyed Lingao team’s pass, probe and smash by serving, and Chengmai team quickly gained a huge lead of 11:3. Due to the momentum of Chengmai, the Lingao team’s adjustment has not achieved much, falling behind with a huge difference of 5:18. In the end, Chengmai team pulled back a game with 21:8. The two sides drew a big score of 1:1.

Chengmai team (blue) played against Lingao team. Reporter Wang Chengxian photo

At the beginning of the third game, Lingao team adjusted its state and took a temporary lead of 5:2. In order to fight for the start, Chengmai team quickly called a time-out to adjust and catch up with the score at 5:6. Lingao team quickly took a lead of 10:6. Chengmai team also served and blocked, and the score was tight at 13:15. Both teams entered the state, blocking, smashing, and slashing. Finally, Lingao team defeated Chengmai team at 21:17 through the smash of No.2 Ke Xianxin and won the third game. Leading with a total score of 2:1.

Chengmai team (blue) played against Lingao team. Reporter Wang Chengxian photo

Chengmai team (blue) played against Lingao team. Reporter Wang Chengxian photo

At the beginning of the fourth game, both sides fought for the start and tied 2-2. Through blocking, Chengmai scored 4 points in a row and took the lead by 6:2. Lingao team can only call a time-out for adjustment. Lingao team strengthened its attack, and Chengmai team also strengthened its defense through multi-person blocking. The score was not opened at 7:12. Subsequently, the Lingao team continued to storm, 10:13. Chengmai team called for a time-out to make adjustments. Lingao team maintained its state, destroyed the opponent’s pass by serving, and passed the defense to overtake Chengmai at 16:14. Chengmai team also made adjustments and defended one after another, catching up with the score at 17:18. Finally, through the smash of Fu Ping on the 5th, Lingao team won Chengmai team at 21:18. Take the first win with a total score of 3:1. (Liang Zhenwen)

The reporter from the reception desk investigated that the illegal golf course in Yulin desertification area of Shaanxi Province has been in business for more than ten years without any approval proce

  On September 11th, a reporter from the Central Radio and Television General Station conducted an on-the-spot investigation in Yulin City, Shaanxi Province, and found that a golf course covering an area of nearly 3,000 mu was in operation in a project called "Green Taosha Desert Eco-city" in Yulin Sandy Forest Park, 16 kilometers northwest of Yulin City.

  Yulin City, located in the north of Shaanxi Province, is the junction of Mu Us Sandy Land and Loess Plateau, with an annual precipitation of only about 400 mm, a semi-arid continental monsoon climate and a typical desertification and desertification area. Why can a golf course be built in Yulin, which is seriously short of water? The reporter conducted a field visit.

  During the visit, the reporter learned that the golf course belongs to the reservation system, and there is a security guard at the entrance of the ecological park. Non-members and reserved customers are forbidden to enter. Under the guidance of the local people, the reporter saw the scene inside through aerial photography. Almost all the lawns in the ecological park are mowed, and the terrain is patchy. Battery cars pull guests to shuttle between different greens, and many people are swinging on the lawn to play ball. After many contacts, the reporter entered the golf course in the "Green Taosha Desert Eco-city". The staff of the golf course introduced that the golf course started construction in 2008 and opened to the public in 2011. The planning of the course is more than 4,000 mu, because the whole course is distributed among many sand dunes, and the fairway fluctuates greatly. Playing here is more challenging than ordinary golf courses, and it is a rare desert golf course in China. The course is reserved and membership, with a minimum membership card of 320,000 yuan and a business card of 46,800 yuan. The staff said that although it is expensive, there are many people who come to play ball every day, ranging from 70 to 80 people to nearly 200 people.

  In 2004, the General Office of the State Council issued a notice on suspending the construction of new golf courses. From January 10, 2004, local people’s governments at all levels and various departments in the State Council are not allowed to approve the construction of new golf courses. Why did the golf course in the "Green Taosha Desert Eco-city" in Yulin City start construction in 2008? Are there any relevant approval procedures for the stadium? In response to this problem, on September 12, the reporter visited the Yulin Municipal Development and Reform Commission. The staff of the Social Development Section of the Yulin Municipal Development and Reform Commission said that the Green Taosha Golf Course had not fulfilled the project approval procedures. The reporter learned from the Natural Resources and Planning Bureau of Yulin City that the Green Taosha Golf Course is an illegal construction project without approval procedures. After comparing the satellite images of the second and third national land surveys by the data center, before the construction of the golf course, the land attribute was "shrub land". According to preliminary statistics, only 18 fairways of Green Taosha Golf Course cover an area of 2,960 mu, and all the above-ground buildings are unapproved.

  Bai Ge, the captain of the Fourth Brigade of the Law Enforcement Detachment of Yuyang District Natural Resources Bureau, Yulin City, said that they had repeatedly stopped enforcing the law at the Green Taosha Golf Course, with a cumulative fine of more than 2 million yuan. The reporter learned from the staff of the golf course that the golf course has been punished many times, and will be closed for a few days after each fine, and then continue to operate. As we all know, golf projects need to consume a lot of water resources because of lawn maintenance. Yulin City is located in arid and semi-arid areas, which is a typical fragile ecological environment. Why can a golf course without any approval procedures be built in the national ban and repeatedly punished? How to solve the water consumption of golf courses in areas with serious water shortage? The reporter from the General Station is further visiting and investigating related issues.

  (Headquarters reporter Chen Wu, Liu Haitao, Xu Hui)