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Outdoor cycling, do you pay attention to posture？

It’s the season for outdoor cycling. Since the invention of bicycle, riding has become a hobby of many people. With the rise of bike-sharing, more people ride bicycles. Both cyclists and people who use bicycles as a means of transportation should pay attention to the fact that incorrect riding posture and bad riding habits will bring pain and health damage to the body.

1 Excessive riding can easily lead to chronic pain.

Like any sport, improper riding will bring a series of health problems. For example, too "forward"; Seat position adjustment is too high; "Feet" or "Legs" when riding; Bowing one’s head and holding one’s chest or looking up and pouting one’s hips will increase the load on one’s cervical vertebrae, lumbar vertebrae, knee joints, shoulders, elbows and wrists. Generally speaking, the most common health problems caused by incorrect riding methods are chronic pain of musculoskeletal system and diseases of genitourinary system.

The external thigh muscle, biceps femoris and gastrocnemius are the main muscles responsible for pedaling. If the seat is too high, the biceps femoris, gastrocnemius and tibialis anterior, that is, the back of thigh and the front of calf, are prone to fatigue; If the seat is too low, the gluteus maximus, rectus femoris and lateral femoris, that is, the middle and lateral thighs and the posterior pelvis, are prone to fatigue.

When riding a bicycle, due to the hard seat and bumpy road surface, the lower body is in a state of being oppressed and stimulated for a long time, which affects the local blood circulation and will lead to discomfort and pain in the prostate region. The longer you ride, the more obvious the symptoms are. The research on the risk factors of prostatitis suggests that riding a bike or motorcycle is one of the risk factors of chronic prostatitis. Similarly, excessive cycling may also cause compression of blood vessels and nerves in the lower body for women, and a few people even have hematuria or dysuria. The probability of occurrence is related to the time and intensity of cycling.

Clinically, it is found that the health problems related to riding include neck and shoulder pain, back pain, lumbago, knee pain, plantar pain, wrist pain, pelvic sacrococcygeal pain and so on. If you find similar problems, you should go to a professional rehabilitation institution for diagnosis, treatment and evaluation in time. The rehabilitation doctor will evaluate your muscle strength and tension, range of motion of spine and limbs, biological force lines, plantar pressure, etc., find the cause of pain or discomfort, and make targeted adjustments and corrections.

2 Exercise, don’t be a "weekend warrior"

The most important purpose of mastering the correct riding posture is to avoid injury. The correct riding posture is: lean forward slightly, straighten your arms, tighten your abdomen, adopt abdominal breathing method, keep your legs parallel to the beam of the car, keep your knees and hips in harmony, and pay attention to the riding rhythm. Therefore, we need to master the following six riding knowledge.

First, choose the correct riding posture. Don’t imitate the posture of professional cyclists, it is not suitable for ordinary people.

The second is to choose the seat that suits you. Many cyclists will choose a bigger and heavier seat, thinking that a wider seat is more comfortable. In fact, the key to determine whether the seat is comfortable or not is the shape design of the seat and the installation height and position of the seat. Too high installation position of the car seat will make people unable to maintain a stable posture during riding and increase the friction area, while too low installation position will increase the pressure on the contact parts of the human body.

What is the appropriate height of the seat? From the point of riding efficiency, the higher the seat, the better the efficiency, but too high a seat will cause riding danger, and 95% of the height of the greater trochanter is more suitable (the height of the seat does not exceed 95% of the length from the sole of the foot to the greater trochanter of the femur). From the point of view of muscle fatigue and healthy riding, 75% rotor height is more suitable.

Third, pay attention to rest during riding to avoid keeping the same posture for a long time.

The fourth is not to be a "weekend warrior." Regular exercise, combined with a variety of sports methods, to avoid short-term assault riding.

The fifth is to avoid riding on rugged roads for a long time.

Sixth, when riding for a long time, it is necessary to do warm-up activities before the start and relaxation activities after the end.

Not everyone is suitable for cycling. From the perspective of safety, it is not recommended for the elderly or children under 12 to ride independently, especially on traffic roads. The eyesight, hearing, balance and coordination of the elderly are degraded, and it is easy to fall and cause fractures, brain injuries and soft tissue injuries. Children should not use adult bicycles, because they are petite, it is difficult to control the vehicle well, and the riding posture must be abnormal, which is easy to cause injuries. Although cycling is not a taboo during pregnancy, cycling should be reduced as much as possible in the first trimester, the unstable fetal state or the third trimester to avoid accidents. For patients with hemorrhoids or lumbar disc herniation, there is no clear medical evidence to prove that cycling will aggravate the disease, but we should always pay attention to the unwell symptoms of the body and not force it.

3 Slow cycling is suitable for dieters.

Different riding time, speed and energy consumption efficiency achieve different sports effects. If you ride at a speed of less than 16 km/h, you will burn about 235 to 370 calories in one hour (the specific calories burned vary according to people’s weight). When the speed reaches 19 km/h, riding for an hour burns about 350 to 550 calories. Therefore, making full use of the combination of different speeds and riding modes can achieve better exercise effect.

Ride slowly. Generally, it does not exceed 65% of the maximum heart rate (simple calculation formula: 220- age). If it lasts for more than 20 minutes, it will burn more fat to supply energy. This method is more suitable for people who aim at reducing fat.

Ride fast. At this time, the human body mainly supplies energy through anaerobic glycolysis of glycogen (anaerobic glycolysis: the process in which glucose or glycogen is decomposed into lactic acid and energy when the body is in a relatively anoxic situation, such as strenuous exercise), which can improve the anaerobic exercise ability of the whole body, especially the thigh muscles, and help raise the anaerobic threshold. In other words, after repeated rapid cycling training, the tolerance of anaerobic exercise will be improved and the discomfort will be postponed.

Combination of speed and speed. This kind of riding mode needs the scientific guidance of professionals, which is more suitable for people who aim at improving their competitive sports ability.

Ride at a medium speed. Medium-speed cycling is a good way to exercise cardiopulmonary function and aerobic exercise ability, which is more suitable for older cyclists.

Extended reading

What are the benefits of cycling to people?

Riding is a combination of aerobic exercise and anaerobic exercise, which is beneficial to systemic vascular function, cardiopulmonary function, musculoskeletal system and metabolic system.

1. It can improve vascular function. Cycling can speed up the heartbeat and blood flow. When blood flows rapidly and rubs against the blood vessel wall, it can produce nitric oxide, which is helpful to relax smooth muscle, dilate blood vessels, remove free radicals and improve blood vessel function.

2, can promote bone health. In addition to supporting posture and limb movement lever, bones also have the functions of hematopoiesis and calcium storage. When cycling, the bones exert force due to load and bear the ground impact caused by bumps, which will improve the absorption of calcium and help to reshape and strengthen the bones.

3, can improve cardiopulmonary function. When riding, the exercise intensity changes greatly due to the fluctuation of the speed and terrain of pedaling. The energy consumption types of exercise are constantly switched between aerobic exercise, anaerobic exercise and alternating exercise, and the heart rate also changes, often increasing by two to three times compared with usual. Repeated exercises like this can promote strong myocardial contraction and improve cardiopulmonary function.

4, can burn more fat. The metabolic rate of the body-the efficiency of burning calories and fat not only increases during cycling, but also lasts for several hours after cycling. When cycling, the energy consumed by adding fast intermittent cycling mode is 3.5 times that of slow cycling. Besides, compared with running, cycling has much less damage to the knee joint.

5, can enhance muscle strength. Long-term riding is particularly significant for the activation of quadriceps femoris, gluteus and gastrocnemius of lower limbs. Strong muscles can not only prevent people from being injured during exercise, but also play a positive role in supporting and protecting bone joints and delaying joint degeneration and aging.

(Author: Physician, Department of Rehabilitation Medicine, Chang Gung Memorial Hospital, Tsinghua, Tsinghua University)

Li Zhanshu： Speech at the First Session of the 13th National People’s Congress.

　　Speech at the First Session of the 13th National People’s Congress

(March 20, 2018)

　　Li Zhanshu

　　On March 20th, the first session of the 13th National People’s Congress held a closing meeting in the Great Hall of the People in Beijing. The 13th Li Zhanshu, Chairman of the Standing Committee of the National People’s Congress, the executive chairman of the conference, presided over the closing session and delivered a speech. Xinhua News Agency reporter Rao Aimin photo

　　Delegates:

　　I fully agree with and firmly support the important speech of the Chairman of the Supreme Leader. The important speech of the Supreme Leader Chairman will greatly inspire the fighting spirit of the people of all ethnic groups throughout the country, and will greatly inspire us to move towards a hopeful tomorrow with one heart and one mind!

　　Delegates!

　　At this meeting, the Supreme Leader was unanimously elected as President People’s Republic of China (PRC) and People’s Republic of China (PRC) chairman of the Central Military Commission, which is the collective will of nearly 3,000 NPC deputies and the common aspiration of more than 1.3 billion people of all ethnic groups in China. Comrade Supreme Leader is the core of the Party, the commander-in-chief of the army and the leader of the people, who is supported by the whole Party and loved by the people. He is the helmsman of Socialism with Chinese characteristics countries and the leader of the people in the new era. Under the strong leadership of the CPC Central Committee with the Supreme Leader as the core and under the guidance of Socialism with Chinese characteristics Thought of the Supreme Leader in the New Era, the people of China are fully confident and capable of realizing the Chinese dream of the great rejuvenation of the Chinese nation.

　　Delegates!

　　The agenda of the first session of the 13th National People’s Congress has been successfully completed. The meeting completed the lofty task of amending the Constitution, deliberated and adopted the supervision law and the institutional reform plan of the State Council, deliberated and approved the government work report and other reports, and elected and decided to appoint the new leaders of state institutions. This is a conference that holds high the great banner of Socialism with Chinese characteristics and comprehensively implements Socialism with Chinese characteristics Thought of the Supreme Leader in the new era and the spirit of the 19th National Congress of the Communist Party of China. It is also a conference that is democratic, united, realistic and progressive.

　　In the past five years, under the strong leadership of the CPC Central Committee with the Supreme Leader as the core and under the auspices of Comrade Zhang Dejiang, the 12th National People’s Congress and its Standing Committee resolutely safeguarded the authority and centralized leadership of the CPC Central Committee with the Supreme Leader as the core, and performed their duties and responsibilities closely around the needs of the cause of the party and the people. The work of the National People’s Congress has made historic achievements, and the construction of socialist democracy and the rule of law has made great strides, making important contributions to promoting the development of the cause of the party and the country. Here, on behalf of the 13th National People’s Congress and its Standing Committee, I would like to pay high tribute to Comrade Zhang Dejiang, all the members of the 12th the National People’s Congress Standing Committee (NPCSC) and the deputies to the 12th National People’s Congress!

　　The 13th the National People’s Congress Standing Committee (NPCSC) was elected at this congress, and I was elected as the chairman. This is the trust of the delegates. We deeply feel that the mission is glorious and the responsibility is great. Together with all the delegates, we will faithfully implement the decision-making arrangements of the CPC Central Committee, faithfully safeguard the interests of the people, faithfully perform all the duties entrusted by the Constitution and laws, do our duty diligently, and never live up to the great trust of the delegates!

　　Delegates!

　　Constitution is the fundamental law of the country, with the highest legal status, legal authority and legal effect. The constitution is closely related to the future and destiny of the party and the country. The National People’s Congress and its Standing Committee should be loyal to the Constitution, abide by it, uphold it, fulfill its mission, ensure its implementation, and provide a strong constitutional guarantee for the development of the cause of the party and the state in the new era.

　　We must adhere to the guiding ideology of the country established by the Constitution. The guiding ideology is the spiritual banner of a political party and a country. Socialism with Chinese characteristics Thought of the Supreme Leader in the New Era is the long-standing guiding ideology of our Party and the national guiding ideology established by the constitutional amendment. We must unswervingly implement the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era into the political and social life of the country, build a common ideological foundation for the United struggle of the whole party and people of all ethnic groups, and lead the new era to uphold and develop Socialism with Chinese characteristics’s great practice.

　　We must adhere to the Communist Party of China (CPC)’s leadership position confirmed by the Constitution. History and people chose the Communist Party of China (CPC), the party led the people to formulate a constitution that embodies the unified will of the party and the people, the people consciously accepted the leadership of the party confirmed by the constitution, and the party itself also acted within the scope of the constitution. This is the historical logic, political logic and legal logic of upholding the leadership of the party. Adhering to the party’s leadership, the organic unity of the people being the masters of the country and governing the country according to law is the most fundamental thing. The National People’s Congress and its Standing Committee, as organs for the people to exercise state power, should consciously work under the leadership of the CPC Central Committee, perform their duties according to law around the decision-making arrangements of the CPC Central Committee, resolutely safeguard the authority and core position of the Supreme Leader General Secretary, resolutely safeguard the authority and centralized and unified leadership of the CPC Central Committee with the Supreme Leader as the core, and ensure that the party leads the people to effectively govern the country.

　　We must adhere to the fundamental task, development path and goal of the country established by the Constitution. China’s Constitution confirms the achievements of the Party leading the people in revolutionary construction and reform, which is the fundamental guarantee of the rule of law for the country and the people to always advance along the road of Socialism with Chinese characteristics. We must strengthen our road confidence, theoretical confidence, institutional confidence and cultural confidence, adapt to the major contradictions and changes in our society, better meet the people’s growing needs for a better life, and keep moving forward towards building a prosperous, strong, democratic, civilized, harmonious and beautiful socialist modern power.

　　We must adhere to the state system of the people’s democratic dictatorship established by the Constitution and the regime of the people’s congress system. After the founding of the People’s Republic of China, the people of China have realized more and more clearly from the rapid development and changes of the country that the people’s congress system has unparalleled superiority and strong vitality. We must firmly adhere to and improve the people’s congress system and constantly give full play to its advantages and characteristics.

　　Delegates!

　　The vigorous development of the party and state has put forward new and higher requirements for the work of the National People’s Congress. The 13th National People’s Congress and its Standing Committee should have a clear understanding of their mission, work hard and earnestly shoulder the lofty mission of persisting in and constantly improving the people’s congress system in the new era. It is necessary to effectively enhance political awareness, overall awareness, core awareness and awareness of conformity, consciously run the party’s leadership throughout the work of the National People’s Congress, and earnestly ensure that all important work and important matters are carried out around the overall situation of the work of the party and the state and under the leadership of the party. We should exercise legislative power, supervision power, decision power and appointment and removal power according to law, dare to take responsibility and be good at doing things, and earnestly perform the glorious duties entrusted by the party and the people. We should persist in taking the people as the center, exercise civil rights for the people, perform duties for the people and serve the people, consciously accept people’s supervision, and give full play to the role of deputies to the National People’s Congress, so that the National People’s Congress and its Standing Committee can become working organs that fully shoulder the responsibilities entrusted by the Constitution and laws and become representative organs that maintain close ties with the people.

　　Delegates!

　　Socialism with Chinese characteristics has entered a new era. We are extremely excited that the Chinese nation has ushered in a great leap from standing up, becoming rich and becoming strong, and we are extremely proud that the great motherland is striding forward towards the goal of "two hundred years". Let’s unite more closely around the CPC Central Committee with the Supreme Leader as the core, hold high the great banner of Socialism with Chinese characteristics, thoroughly study and implement the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era, fully implement the spirit of the 19th National Congress of the Communist Party of China and the First, Second and Third Plenary Sessions of the 19th National Congress, make concerted efforts, forge ahead with determination, work hard to accomplish the tasks set by this meeting, and win the Chinese dream of building a well-off society in an all-round way, winning the great victory of Socialism with Chinese characteristics in the new era and realizing the great rejuvenation of the Chinese nation!

Open a new era： comparison of new and old models of SAIC Volkswagen Passat

"If you own it, you are not afraid to travel all over the world". Since SAIC Volkswagen officially introduced Passat B5 and named it Passat in 2000, it has been firmly in the dominance of mid-to high-end cars. On September 10th, SAIC Volkswagen brought us the 2025 Passat Pro, which not only adopted a younger model, but also caught up with the mainstream in terms of configuration and intelligence. So what changes will the new car have compared with the previous generation? What surprises can it bring to consumers?

The above manufacturer’s guide price only represents the price on September 13, 2024. If there is any change, please take official website as the standard.

The 2025 SAIC Volkswagen Passat Pro launched a total of six models, the starting price increased by 18,000 yuan compared with the old models, and the top price was 16,600 yuan more expensive. In terms of the number of models, the new car only launched 6 models, which was 5 fewer than the old models. In order to make a more intuitive comparison, we chose two models with similar prices for comparison, so that we can more intuitively see the specific differences between the new and old models in configuration. Although the price difference between the two is 16,600 yuan, combined with the limited price of the new car, its price reaches 223,900 yuan, and the final price difference is only 600 yuan.

Appearance: Young and fashionable to meet the market demand.

As a brand-new model, Passat Pro has made many adjustments in appearance, but it still retains the double front face design for consumers to choose from. The two models we selected this time are both Star Edition. First of all, the most obvious change in the front of the car is that the new model cancels the front grille on the old model and replaces it with a huge black front surround below, highlighting the sense of fashion. At the same time, it is also equipped with a similar through-type light group and the LOGO supports lighting, which has higher recognition.

The external configuration of the new model is not much different from that of the old model, but it only adds optional opportunities. For example, sports style kit, Bluetooth key and remote start function can be selected by consumers as needed.

In terms of body size, the length, width and height of the new model are increased by 58mm, 14mm and 20mm, which is larger than that of the old model, but the wheelbase of both models is 2871 mm. In terms of rim style, the new model adopts a 19-inch blackened five-spoke rim, while the old model adopts an 18-inch cyclone rim. The former is simpler, more fashionable and has outstanding visual effects. The latter pays more attention to sports and has its own characteristics.

The most obvious change in the rear of the car is that the rear enclosure of the new model is decorated with diamonds, and the exhaust decoration with two sides at the rear is cancelled. The taillights support six kinds of welcome animation lighting effects, which is more ceremonial. At the same time, the new model cancels the 380TSI logo on the old model and replaces it with the black "Pro" English letter, highlighting its special identity.

Interior: Simple design is more scientific and technological.

The interior of the new model adopts a simpler design, and the physical buttons on the old model are cancelled. The functional operation can be realized by waking up the voice assistant or manipulating the central control panel. At the same time, the all-LCD instrument panel and central control panel have also been replaced by suspended design from the previous embedded ones, and a new passenger entertainment screen has been added, which has created a sense of science and technology in the car. In addition, the new model adopts the rotary electronic gear shifting structure. Compared with the mechanical gear shifting structure of the old model, it has the advantages of more convenient operation and more storage space for the center console area.

In addition to the younger and more fashionable interior, the internal configuration of the new model has also been upgraded, adding a lot of popular configurations. Such as dual-zone voice wake-up recognition, visible-to-talk, second-row seat backrest adjustment, fragrance device in the car, etc., to improve the convenience of the car. At the same time, on the basis of the old model, ventilation, massage and headrest speaker functions are added to the second row seats of the new model, and the indoor ambient light is upgraded to 30 colors, further improving the comfort experience.

Power: the previous generation powertrain is used.

The power systems of the two comparison models are consistent, and both adopt the combination of 2.0T engine and 7-speed wet dual-clutch gearbox. Among them, the maximum power of the engine is 162kW and the maximum torque is 350 N m. However, the WLTC comprehensive fuel consumption of the new model is slightly lower than that of the old model.

Space: performance is quite satisfactory.

Although the wheelbase of the new and old models remains the same, the former has been improved in terms of length, width and height, so there is no need to worry about the interior space, which is enough for daily travel. In addition, because the new model adopts the gear shifting mode, the position of the original gear shifting mechanism frees up more storage space, which is very practical.

In terms of trunk, the new and old models are consistent in opening shape and internal design, and are equipped with front/rear central handrails, etc. The overall performance is at the mainstream level of the same level, which can meet daily use.

Safety: greatly upgrade and protect every trip.

In terms of passive safety configuration, the new model has added the front middle airbag, DOW door opening warning, built-in driving recorder and road rescue call, which is improved compared with the old model. In addition, in terms of driver assistance configuration, the new model has been fully evolved, with the addition of front sensing cameras (monocular and binocular) and 12 ultrasonic radars, so that its assisted driving level reaches L2. In contrast, although the old models have reached L2-level assisted driving, some assisted driving functions are missing.

Summary:

From this comparison, it can be seen that Passat Pro is not only sincere in price, but also obviously upgraded in configuration level, such as dual-zone speech recognition and L2-level assisted driving, and it also has the heating, ventilation and massage functions of the second row of seats beyond the same level, which is more in line with the car purchase needs of young consumers. If you are considering buying a medium-sized joint venture car recently, then the 2025 SAIC Volkswagen Passat Pro deserves your attention.

Just choose it when you buy a medium and large SUV, Guard Shopping Guide

The most intuitive change in the new car is the use of a new body line language. The front part of the new car is equipped with a front grille, which significantly enhances the sense of movement. The square lights on both sides are quite angular, and the headlights look very energetic when lit. The waist line on the side of the body is still the appearance of Land Rover’s unique car, and the enchanting figure is even more vividly displayed! In addition, coupled with the large-size wheel design, it has a stronger sporty atmosphere. The classic tail of the body highlights the daring and firm posture, and the taillight group also has a certain sense of advanced.

In terms of interior configuration, it is still the traditional family style, and the whole design looks huge. The configuration is definitely one of the strong points of the guard. The car is equipped with a leather steering wheel that can be adjusted by electric up, down, front and rear memory. When driving, the hand grip is very good and people feel full of power. The entire center console of the guard is wrapped in a large area of leather material and decorated with wood decoration. It feels very delicate. It is equipped with a 10.0-inch central control LCD screen, which shows clearly and has a super large design. The front row is also equipped with a dual-temperature zone automatic air conditioning control system, which can freely debug the most comfortable space atmosphere. And there are comfortable ergonomic seats.

The length, width and height are 5018 × 2008 × 1967mm respectively, and the wheelbase also reaches 3022mm. Among the models of the same class, the wheelbase of the Guard ranks 33rd. As an SUV, its body size does not occupy much advantage in the same class, and its internal riding space is only basically enough. After all, it is limited by the length and shape of the body. The design of the sunroof also increases the subjective space experience of the front and rear passengers. Among the models of the same price and class, the trunk volume of the Guard ranks 8th. The shape is very regular, and the storage capacity is absolutely no problem to meet daily use.

The Land Rover Defender is equipped with a 5.0 supercharged engine (direct injection) matched with a combination of automatic hand (AT). The 5.0 engine is paired with a moderate power performance on the Defender, with weak low torsion and a sense of hysteresis. The official measured Zero hundred acceleration score of the Defender is 5.4S, ranking 107th among SUV models above 800,000.

Guard’s active/passive safety configuration is complete, includingAutomatic parking,Zero tire pressure endurance tires,Automatic parking,Steep slope,uphill assist,Knee airbag,HUD head-up display,Anti-lock braking (ABS),Brake force distribution (EBD/CBC, etc.),Brake assist (EBA/BAS, etc.),Traction control (ASR/TCS, etc.),Active Noise Cancellation,Engine start stop,Side safety air curtain,Mobile phone wireless charging,Night vision system,LED daytime running lights,Front reversing radar,Tire pressure monitoring,Steering wheel heating,Body stability control (ESP/DSC, etc.),Rear reversing radar,Fatigue reminder,Remote parking,Child seat interface,Lane Keeping (LKAS)Wait for the configuration.

Of which,Automatic parkingIt can avoid stepping on the brakes for a long time or needing to pull frequently.Steep slopeIt can safely pass through steep slopes at low speeds.Knee airbagReduce the damage to the occupant’s knee in the vehicle interior during the second collision.

In addition to the above description, we can also go to the easy car forum to browse more real car feedback from actual purchase users, or use experience.

Extreme krypton car： the delivery cycle of 2022 extreme krypton 001 is extended, and the unsubscribe channel will be opened.

On March 9 th, the official released the "Warm Tips on Extending the Delivery Cycle of the 2022 ZEEKR 001" at noon today, saying that since the release of the 2023 ZEEKR 001, its configuration and driving experience have been recognized by the majority of users, and it has continued.Open the channel to switch to the 2023 model for the old users who have made a decision before..

Extreme krypton 001

According to Krypton officials, as more and more new and old users choose the 2023 ZEEKR 001, following the industry practice, the material supply and production of the 2022 ZEEKR 001 will be gradually reduced, and the delivery cycle will be affected.It is estimated that the delivery cycle of 2022 ZEEKR 001, which is scheduled for production in June 2023, may be extended to more than 6 months..

Krypton pointed out that it respects every user’s choice, and if users want to keep the 2022 ZEEKR 001 order, they will continue to arrange vehicle production and delivery. At the same time, in order to reduce the impact of the change of delivery cycle,Krypton also opens the fallback channel for the following users：

Orders made before 9:00 (excluding) on January 1, 2023, and the order status and related descriptions meet the requirements, can complete the application for cancellation before May 31, 2023. Before the cancellation application is initiated, the status and related description displayed on the user’s order details page must be one of the following:

IT House learned from the Kryptonian authorities that,The retreat channel will be opened on March 13th, 2023.. At that time, users can click "Apply for Refund" at the bottom of the order details page to initiate a cancellation application.

Extreme krypton means that if the user needs to retire,Please complete the cancellation application before 24:00 on May 31st, 2023.. Please plan ahead when applying and operating, so as to avoid the failure to complete the cancellation process due to the failure to complete the cancellation application in time.

Extreme krypton car: the delivery cycle of 2022 extreme krypton 001 is extended, and the unsubscribe channel will be opened.

Lynk & Co 08 hot promotion in Tianjin, the minimum is only 178,800! Quantity is limited

In [Easy Car Tianjin Local Auto Market Discount Promotion Channel], we have sorted out the ongoing
Promotions. As a model that has attracted much attention, the price reduction of the Lynk & Co 08 is still very amazing. The highest discount can even reach 17,000. The minimum starting price is only 178,800. You can get a larger discount by clicking the "Inquire" button in the quotation form. If you are looking for a practical and affordable model, you may wish to find out about the discounts of the Lynk & Co 08.

First of all, from the appearance point of view, the front of the Lynk & Co 08 adopts a very fashionable and simple design, which looks more exquisite. The headlights are dynamic, and many interesting details can be seen from the inside. The car is equipped with LED daytime running lights, headlight height adjustment, automatic opening and closing, adaptive far and near light, delayed closing, etc. Come to the side of the car, the body size of the car is 4820MM*1915MM*1685MM, the car adopts deep and elegant lines, the side looks very soft, and with large-sized thick-walled tires, it looks sporty. In terms of the rear, the rear of the car and the front face echo each other, the style of the taillights is relatively calm, and the overall shape is still very durable.

Sitting in the car, the interior design of Lynk & Co 08 has taken a comfortable route, which is easy to impress the hearts of young consumers. The steering wheel shape of the car is eye-catching, and it is made of genuine leather material, which gives a good grip experience. Let’s take a look at the central control, with a 15.4-inch central control screen, which makes the interior style impressive and looks stylish. Finally, look at the dashboard and seats, which highlights the trendy temperament. The car uses leather seats, which are well-wrapped and comfortable.

As a brand-new luxury mid-sized SUV, the exterior design of the Lynk & Co 08 is very eye-catching. Its unique styling style and detail handling all show the designers’ superb skills, making people recognize it as a Lynk & Co brand product at a glance. In terms of power, the Lynk & Co 08 is equipped with a strong engine that can provide sufficient power output, allowing drivers to enjoy unparalleled driving pleasure. In addition, the overall space performance of the Lynk & Co 08 is also very good, whether it is the front or the back, you can get a spacious and comfortable ride experience. Overall, the Lynk & Co 08 is an excellent model with beautiful appearance, full power and excellent space performance, which deserves consumers’ attention and choice.

259,800! Zhijie R7 officially launched, positioning medium and large coupe SUV

On September 24th, Huawei officially launched Hongmeng Zhixing’s first coupe SUV at the autumn all-scene new product launch conference. The new car offers six body colors and four interior colors, a total of three versions of four models, the price is 259,800 yuan for Zhijie R7 Pro, 299,800 yuan for Zhijie R7 Max (82kWh battery, 667km battery life), 319,800 yuan (100kWh battery, 802km battery life), and 339,800 yuan for Zhijie R7 Ultra. It is reported that the Zhijie R7 exhibition car has entered more than 200 stores across the country, and more stores will be unlocked in the future. Mass delivery will start in mid-October 2024.

Enterprise data shows that as of September 23, 2024, the cumulative number of Dading has exceeded 140,000, and it has become the sales champion of luxury models above 500,000 in the Chinese market for many consecutive months. The newly released Intelligent R7 has also continued this heat. The pre-sale is less than two weeks, and the order volume has exceeded 30,000.

The Zhijie R7 is innovative in terms of exterior design, cockpit space and intelligent technology. The vehicle adopts a OneBox design, achieving a drag coefficient of 0.219. The Zhijie R7 is equipped with the "Full Blood" Tuling platform, and the whole system is equipped with Huawei’s "Giant Whale" 800V high-voltage battery platform as standard. In addition, the vehicle is also equipped with Huawei technologies such as HUAWEI ADS 3.0 high-end intelligent driving system and HarmonyOS intelligent cockpit.

Yu Chengdong, executive director of Huawei, chairperson of end point BG, and chairperson of smart car solutions BU, said: The "R" in the name of smart R7 stands for "Revolution" (revolution), which aims to create revolutionary coupe SUV products through space revolution, performance revolution, intelligent revolution and super safety, providing better choices for young consumers in the era of smart electric.

In terms of space design, Zhijie R7 has made innovations. The body length, width and height are 4956mm × 1981mm × 1634mm respectively, and the wheelbase reaches 2950mm. Through the design of point C forward and point D elevation, the space experience of the coupe SUV is reshaped. The front and rear rows of the car have a large space of nearly 1 meter.

The front row of the new car is a high-energy surrounding driving space. Through the division of the field of vision, display area and control area, as well as the optimized olive steering wheel, it is designed to give the driver a more transparent field of vision and a more comfortable driving experience. The fully connected central control island is equipped with 2 50W super wireless fast charging, 3 66W wired fast charging and double cup holders.

The front center armrest box can be equipped with an optional 8.2L double-open mini bar heating and cooling box, which supports 3-50 degree wide-area temperature control, and can provide hot and cold beverages. In addition, there are central control storage compartments, shoulder pillow audio and other configurations. The rear legroom of Zhijie R7 is 956mm, and the head space is 1034mm. The whole series is equipped with silk cloud seat 2.0 as standard. The thickness of the front seat cushion is 115mm. The rear row supports 27 ° -37 ° stepless electric adjustment, and the whole series supports ventilation, heating and massage functions. 3.8L and 3.5L double storage drawers are also set under the rear seats. The rear side is equipped with an innovative starlight black belt, and the seat ventilation/heating/massage and air conditioning adjustment tentacles are controllable.

The Zhijie R7 is the first SUV model of Hongmeng Zhixing to be equipped with a zero-gravity seat for the co-pilot. The seat supports 18-way adjustment and leg rest heating. It can be unfolded to form a double 123 ° zero-pressure angle, and it also supports continuing to lie down to 137 °. The vehicle is also equipped with a 2.1m 2 panoramic canopy and electric sunshade. The vehicle also uses more than 100 wind noise control technologies to create a quiet riding environment.

In terms of storage space, the Smart World R7 has a three-layer trunk with 837L of trunk space. When the rear seats are down, the trunk can expand to 2130L, which can be turned into a 2.1m X 1.4m bed. The front and back box of the electric suction bomb supports Knock-Knock knuckle double-click to open, which is more elegant for access.

In terms of performance, the entire range of Zhijie R7 is equipped with the HUAWEI DriveONE 800V high-pressure silicon carbide power platform, with a total power of 365kW, the fastest zero-hundred acceleration time of 3.9 seconds, a braking distance of 34.7 meters at 100km/h-0, and an elk test result of 82.3kph.

The intelligent R7 adopts the front virtual ball pin double fork arm rear five-link suspension, and the whole system is equipped with continuous variable damping shock absorber and intelligent air suspension as standard. The maximum adjustment range of body height is plus or minus 50mm, and the suspension height supports 5 + 1 gear intelligent adjustment.

The intelligent R7 is also based on four technologies: HUAWEI ADS road sensing, iVSE intelligent vehicle state sensing, HUAWEI DATS dynamic adaptive torque control, and HUAWEI xMotion intelligent body collaborative control. It realizes intelligent downhill cruise, active anti-skid control, and active curve control system, and has certain off-road escape capabilities.

In terms of intelligence, the HarmonyOS smart cockpit has been upgraded again. Combined with HUAWEI MagLink, it can easily expand the screen for the rear row. The central control screen toolbar supports user customization, making touch screen interaction more convenient. The control center integrates more commonly used functions, and the task interface is one-click away. The vehicle also launched the cute pet interactive wallpaper, which increased the fun of travel. HUAWEI SOUND sound system innovates the turbo super heavy bass unit.

When the Smart World R7 was released, it was equipped with the latest HUAWEI ADS 3.0 high-end intelligent driving system, taking the lead in applying the end-to-end new architecture to realize driving around the island across the country. The parking space-to-parking space intelligent driving function has opened up the full scene from the parking lot to the open road, the open road to the park, and the ground to the underground in the park, supporting autonomous turnstiles.

In terms of parking, Zhijie R7 supports the identification of obstacles occupying parking spaces, and can park autonomously after removing obstacles, which is more convenient and safe. In addition, the vehicle also gets rid of the Bluetooth distance limit. After arriving at the destination, users can get off the bus and leave, and the vehicle can park in autonomously, solving the problem of difficult and time-consuming parking.

In terms of safety, 100% of the core skeleton structure of the front member cabin of the intelligent world R7 body is made of submarine-grade thermoformed steel, and the overall high-strength steel, submarine-grade thermoformed steel and aluminum alloy account for 86.7%. The collision standard has reached the five-star rating of China Baoyan 3G + and C-NCAP. Huawei’s giant whale battery platform adopts an intelligent sensing network system, cell-level intelligent voltage monitoring, cell-group-level intelligent temperature monitoring, and end-cloud collaborative all-weather AI intelligent analysis and early warning to ensure battery safety.

In terms of active safety, it is reported that as of September 23, 2024, all models of Hongmeng Zhixing have avoided 63,000 possible collisions based on the omnidirectional anti-collision system. The Zhijie R7 is equipped with the omnidirectional anti-collision 3.0 system, which has three capabilities: ultra-full perception, ultra-fast response, and advanced verification.

The Ministry of Housing and Urban-Rural Development stated that local real estate can be regulated independently, and the property market ushered in an important turning point？

More policies to support the stable and healthy development of the real estate market are being released.

On January 26th, the Ministry of Housing and Urban-Rural Development held the deployment meeting of the coordination mechanism of urban real estate financing, demanding that the coordination mechanism of urban real estate financing be accelerated and effective, supporting the development and construction of real estate projects, meeting the reasonable financing needs of real estate enterprises with different ownership equally, and promoting the stable and healthy development of the real estate market.

The above deployment will mention that it is necessary to adhere to the policy of the city, precise policy, one city and one policy, make good use of the policy toolbox, and fully give the city real estate control autonomy. Each city can adjust its real estate policy according to local conditions. This is also a rare and clear return of regulatory power to cities by the regulatory authorities.

What are the considerations behind giving local governments greater regulatory autonomy?

Li Yujia, chief researcher of the Housing Policy Research Center of Guangdong Provincial Urban Planning Institute, said, "Equality of rights and responsibilities gives urban real estate control autonomy, with the aim of giving local governments the rights, responsibilities and obligations to stabilize the market and industries, implementing local main responsibilities, and strengthening policy support and monitoring and assessment by the state."

An insider of a well-run South China housing enterprise believes that all localities should also wait and see. And in its view, the main problem now is the lack of confidence and expectation, not the immediate effect after policy regulation.

Whether the strict supervision of the project subject can be moderately loosened in various places is also the focus of many parties. "Although there are bail-out funds in various places, after the accident, we encountered more restrictions from local areas than support. At present, the project funds are guaranteed to be delivered and the funds cannot be collected. " An insider of a South China real estate company told Blue Whale Finance.

Since mid-2021, real estate regulation and control has continued to be strict, covering land, finance, real estate market order and many other aspects. By July 2023, Politburo meeting of the Chinese Communist Party proposed to adapt to the new situation that the relationship between supply and demand in China’s real estate market has undergone major changes.

Since then, the central and local governments have successively introduced real estate control policies. According to the monitoring of the Central Finger Research Institute, in 2023, 200 Yu Sheng cities (counties) have issued real estate control policies for over 670 times, and most cities have completely liberalized their restrictive policies.

It is reported that the responsible comrades of the housing and urban-rural construction departments (commissions) of various provinces (autonomous regions and municipalities) and the responsible comrades in charge of the people’s governments of 35 key cities attended today’s meeting. Clearly giving full autonomy to urban real estate regulation and control, what impact it will have on the market, whether it can boost the property market, and whether it will enter a new round of policy easing period is worthy of attention.

In addition to clearly regulating "freedom", the above deployment meeting also mentioned the financing problem that is more critical to the current housing enterprises.

That is, "to establish a coordination mechanism for urban real estate financing, the people’s governments of cities at or above the prefecture level should effectively play a leading role in coordination, quickly establish and operate this important mechanism, timely judge the local real estate market situation and real estate financing needs, strengthen overall planning, refine policy measures, build a communication platform between government, banks and enterprises, promote the accurate docking of real estate enterprises and financial institutions, and coordinate and solve the difficulties and problems existing in real estate financing."

However, unlike the notice jointly issued by the General Office of the People’s Bank of China and the General Office of the General Administration of Financial Supervision on January 24, "Operating loans can be used not only for projects, but also for repaying corporate bonds and loans", the financing support mentioned in the above deployment will focus more on projects.

In view of the current financing problems of some real estate projects, the meeting made it clear that all localities should focus on projects, study and put forward a list of real estate projects that can be given financing support, coordinate the issuance of loans by financial institutions within their respective administrative regions, and accurately and effectively support reasonable financing needs. Before the end of this month, loans can be obtained after the first batch of projects are listed.

After the deployment meeting, a person from an East China insurance company said that he would be more concerned about how to implement it in the future.

Li Yujia said that credit is a credit behavior and is based on trust. "The purpose of establishing a coordination mechanism this time is to establish a docking platform for both parties to fully communicate. Whether the loan is based on the bank’s risk control and credit approval process is market-oriented, legal, and voluntary, and cannot be forced."

Since the end of 2022, relevant departments have successively issued "Three Arrows" and "Sixteen Financial Articles" for enterprise financing, and put forward "equal treatment" and "three no less than". However, according to feedback from many real estate enterprises, the implementation effect of these policies is generally.

Li Yujia believes that the main reason for the general implementation effect is that banks are worried about risks and have low trust in housing enterprises. Therefore, the degree of attention began to shift to the coordination mechanism, that is, the coordination mechanism pushed the qualified loan projects, and the financial institutions cashed in the qualified projects for financing.

Whether the financing situation of housing enterprises has changed after the deployment meeting of the financing coordination mechanism is worthy of attention.

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Breaking news! WANDA CINEMAS changed hands： The new boss will be the post-80s generation!

On the evening of December 12th, WANDA CINEMAS officially announced that it was no longer Wang Jianlin’s company.

WANDA CINEMAS Co., Ltd. (hereinafter referred to as "the company" and "WANDA CINEMAS", 002739) announced that Beijing Wanda Cultural Industry Group Co., Ltd. (hereinafter referred to as "Wanda Cultural Group"), its wholly-owned subsidiary Beijing Hengrun Enterprise Management Development Co., Ltd. (hereinafter referred to as "Beijing Hengrun"), the actual controllers of the company Wang Jianlin and Shanghai Ruyi Investment Management Co., Ltd. (hereinafter referred to as "Ruyi Investment").Signed the Equity Transfer Agreement,It is planned to transfer 51% equity of Wanda Investment, the controlling shareholder of the company, to Ruyi Investment, with a total transfer price of 2.155 billion yuan.If the above matters are finally implemented,The actual controller of the company was changed to Ke Liming. The company’s shares have resumed trading since the market opened on December 13th, 2023.

According to public information, China Ruyi (HK0136) controls its subsidiaries by agreement, and the latter holds 100% of the actual rights and interests of Shanghai Ruyi, and Ke Liming, Chairman of the Board of Directors of China Ruyi, holds 99% of the shares of Shanghai Ruyi.

China Confucianism was originally named "Hengteng Network", which was composed ofEvergrandeJointly funded with Tencent, afterEvergrandeIn November 2021, Tencent withdrew its capital, and then became the major shareholder of China Confucianism and Italy through three rounds of additional issuance. At present, Tencent Holdings (0700.HK) holds 19.12% shares of China Ruyi through its wholly-owned subsidiary Water Lily.

The withdrawal of real estate leaders from film and television investment and the takeover of Internet giants are also regarded by the industry as a landmark acquisition event in China cinema industry. In the film and television drama industry, China Confucianism and Italian film industry as the main body, to carry out related business development. Although it is not well-known outside the film and television industry, Confucianism and Italian Film also participated in the production of popular films such as "To the Youth We Will Die", A Little Red Flower and Moon Man.

WANDA CINEMAS: Actual controller.

Will be changed to keliming, and the stock will resume trading.

On the evening of December 12, WANDA CINEMAS announced that the company had recently received a notice that Wanda Culture Group, Beijing Hengrun and Mr. Wang Jianlin signed the Equity Transfer Agreement with Ruyi Investment, which they intend to hold respectively.Wanda Investment holds 20%, 29.8% and 1.2% equity (holding 51% equity of Wanda Investment in total).Transferred to Confucianism and Italy, the total transfer price is 2.155 billion yuan.

After this transaction, the controlling shareholder of the company is still Wanda Investment, and Ruyi Investment holds 51% equity of Wanda Investment. Ruyi Investment is a wholly-owned company of Keliming.Ke Liming indirectly controls 20% of WANDA CINEMAS’s equity through Confucianism and Italian investment, and the actual controller of the company will be changed to Ke Liming.The company’s shares will resume trading on Wednesday, December 13, 2023.

Before this transaction,Wanda Investment, the controlling shareholder of the company, holds 20% of the company’s shares, Wanda Culture Group, Beijing Hengrun,Wang Jianlin holds a total of 51% of Wanda Investment.Wang Jianlin indirectly controls 30.9% equity of WANDA CINEMAS through Wanda Investment and its concerted actors Wanda Culture Group, Shenxian Rongzhi Xingye Management Consulting Center (Limited Partnership) and Lin Ning.The actual controller of the company is Wang Jianlin.

Mr. Ke Liming holds 16.34% of the total share capital of China Ruyi Holdings Co., Ltd. (hereinafter referred to as "China Ruyi"), and China Ruyi controls Shanghai Ruyi Film and Television through an agreement.Production Co., Ltd. (hereinafter referred to as "Ruyi Film and Television") holds 49% equity of Wanda Investment.

After this transaction, the controlling shareholder of the company is still Wanda Investment, and Ruyi Investment holds 51% equity of Wanda Investment. Ruyi Investment is a wholly-owned company of Keliming, who indirectly controls 20% equity of WANDA CINEMAS through Ruyi Investment.The actual controller of the company will be changed to Ke Liming.

In addition, China Ruyi Film and Television, which is controlled by Ruyi through an agreement, holds 49% of Wanda Investment, and Ke Liming also holds 16.34% of the total share capital of China Ruyi. After this transaction, Wang Jianlin indirectly controls 10.9% equity of WANDA CINEMAS through Wanda Culture Group, Shenxian Rongzhi Xingye Management Consulting Center (Limited Partnership) and Lin Ning.

After the completion of the 51% equity transfer, it can be said that Wang Jianlin cleared all the equity of Wanda Investment he held. This is undoubtedly a major turning point for WANDA CINEMAS.

An internal employee of WANDA CINEMAS told the reporter of national business daily on the phone earlier that in October this year, the administrative director and financial director sent by China’s Confucianism and Italy took the lead to settle in WANDA CINEMAS, but other businesses have not changed significantly at present. "As a terminal, even if there is a change, there will be a lag, or the impact is not so great."

Wang Jianlin once made no secret of his ambition for the cultural industry. Many years ago, when faced with the news that Disneyland had settled in Shanghai, he boldly declared that it would be difficult for Disney to make a profit in the next 20 years. He clearly realized that China’s real estate industry has developed for more than 20 years, and in another 15-20 years, this industry may gradually shrink. In order to ensure the sustainable development of Wanda, he understands that the company must turn to diversified fields such as culture and tourism.

In order to realize this transformation, Wanda carried out a major overseas merger and acquisition as early as 2012, and acquired AMC Entertainment Holding Company, the second largest cinema in the United States, which was the first overseas merger and acquisition in China film history. Since then, Wanda Cinema has successively launched a fixed-income plan since July 2015, and plans to acquire 100% equity of Hoyts, the second largest cinema in Australia, and 100% equity of Muwei Fashion and Chongqing Shimao Cinema Management Company, a domestic film data company.

Wanda also owns its own listed company, wanda cinema line, which is in the leading position in the domestic industry and is regarded as an important quality asset of Wanda Culture Group by the outside world. However, affected by the epidemic situation in recent years and other factors, WANDA CINEMAS has also experienced some difficulties. According to the financial report data, in 2019 and 2020, the company lost 4.729 billion yuan and 6.669 billion yuan respectively. Although it achieved a slight profit in 2021, it fell into a loss again in 2022, with a net profit loss of 1.923 billion yuan.

The above-mentioned employees in WANDA CINEMAS told reporters that in recent years, the benefits of Wanda Real Estate have been sluggish, and they often need the support of business management and cultural groups.

Today, Wang Jianlin bid farewell to the original film and television dream.

"Before the epidemic, Wang Jianlin expressed his dissatisfaction with WANDA CINEMAS at the year-end summary meeting for two consecutive years. After the annual party, he will come to our floor, which impressed me deeply. He said in a bad tone that the cinema earned less and the company didn’t keep idle people. The film industry as a whole is only tens of billions a year, which can’t help the big group. " The employee recalled Wang Jianlin’s deep impression on the film and television business.

Who’s Cleming?

Born in April 1983, Ke Liming is a layman in the film industry. After graduating from abroad, he entered the investment bank. However, after the financial crisis, Ke Liming decided to start a business and began to invest in film and television.

The magical divine comedy "Little Apple" was once a smash hit, and the trader behind it was Ke Liming, and "Little Apple" was also the propaganda song of the film "The Old Boy Raptors Crossing the River" that he was the owner of the real controller.

As an investor and producer, Mr. Ke Liming once led and invested in films such as Keep You Safe, Exchange Life, Moon Man, Hello Li Huanying, A Little Red Flower, Animal World, Sewing Machine Band, never gone, To Our Dying Youth and so on, as well as Love at Nine Bends, Old Chinese Medicine Doctor, Old Tavern, Frontier of Love, No War in Beiping and Langbang.Among them,Guaranteed issueHi, Mom,Won 5.414 billion domestic box office, ranking third in the film history.

This year’s summer file exploded the movie "She Disappeared", and Confucianism and Italian film and television also participated in the investment. The box office of the film has reached 3.467 billion yuan. In addition, this year’s main films of the company include "Warmth" and "Keep You Safe".

At present,ColiminHe is the executive director and chairman of China Ruyi and the executive president of Pumpkin Films Limited.What he is in charge ofmiddlecountryConfucianism(Formerly known as "Hengteng. com"Complex "),frontAs a Masge setGroup, mainly engaged in investment and trading of securities, providing financing, property investment and manufacturing and selling photographic products and accessories business.

In 2015,EvergrandeAfter the acquisition of the group, the Group and Tencent Holdings changed its name to Hengteng Network Group. At that time, the company was mainly engaged in Internet business.

On October 26, 2020, Hengteng Network announced that it had wholly acquired the entire equity of Ruyi Film and Pumpkin Film through allotment and issuance of shares and subscription of equity, and made a comprehensive transformation to an Internet technology enterprise, focusing on creating streaming video services; In January 2021, Hengteng Network announced that it had officially completed the acquisition of all the shares of Confucianism, Italian Film and Pumpkin Film. In the second half of 2021, Evergrande Group experienced a liquidity crisis. By November 2021, Evergrande cleared its equity in Hengteng Network and left, and Ke Liming, the real controller of Ruyi Film, became the largest shareholder of Hengteng Network. Tencent Holdings became the second largest shareholder. After Evergrande left, Hengteng Network was officially renamed as "China Confucianism" in February 2022.

On July 4th, 2023, China Confucianism announced that the company had entered into a share subscription agreement with the subscribers, and issued a total of 2.5 billion subscription shares at a price of HK$ 1.6 per share, raising a net fund of HK$ 4 billion. The institutions or individuals participating in this subscription include Tencent, Liu Xueheng, Cubract Ventures, Yushan and Chengwan Development.

Among them, Tencent will take out 800 million Hong Kong dollars to participate in the subscription through its subsidiary Water Lily, and after the transaction is completed,Ke Liming, chairman of China Ruyi, will reduce his shareholding in China Ruyi to 15.14%.Tencent’s shareholding ratio through Water Lily increased to 20.36%, further consolidating its position as a major shareholder.In addition, Liu Xueheng holds 4.29%, Cubract Ventures holds 4.36%, and Yushan and Chengwan Development hold 4% respectively. According to China Confucianism, the HK$ 4 billion fund obtained this time, of which HK$ 3.6 billion is intended to be used for the development and expansion of the group’s film and game business, and HK$ 400 million is used for the general working capital of the group.

Shanghai ConfucianismA controlled structural entity holding 100% actual rights and interests for China Confucianism and Italy, whichFounded in 2013, it is mainly engaged in the production and operation of radio and television programs and film distribution business.

Wanda’s 38 billion yuan gambling crisis was lifted

According to Dalian Wanda official website, on December 12, 2023, PAG and Dalian Wanda Commercial Management Group jointly announced the signing of a new investment agreement. Taimeng will cooperate with other investors to reinvest in Zhuhai Wanda Commercial Management after its investment redemption expires in 2021 and is redeemed by Dalian Wanda Commercial Management Group. In August 2021, the existing investors invested about 38 billion RMB in Zhuhai Wanda Commercial Management, of which the investment of Taimeng was about 2.8 billion US dollars (about 18 billion RMB), and the existing investors enjoyed the right of redemption at maturity in the original investment arrangement.

This means that before the deadline for Zhuhai Wanda Commercial Management to go public in Hong Kong comes, the gambling pressure on Wanda’s listing has been eliminated.

According to the information disclosed in the previous prospectus, there are 22 institutional investors of Zhuhai Wanda Commercial Management, including Zheng Yutong Family, Country Garden, CITIC Capital, Ant, Tencent and Taimeng Investment Group. In August 2021, these investors invested about 38 billion RMB, of which Taimeng invested about 2.8 billion US dollars (about 18 billion RMB). According to the contents of the previous gambling agreement, if Zhuhai Wanda Commercial Management fails to complete the listing before the end of 2023, Wanda Commercial Management is obliged to repurchase shares from the above investors. If Zhuhai Wanda Commercial Management cannot be listed at the end of this year, it will trigger a repurchase agreement, and Wanda’s cash flow may also be under pressure.

According to the new agreement, Dalian Wanda Commercial Management Co., Ltd. holds 40% of the shares, which is the single largest shareholder, and several existing and new investors such as Taimeng participate in the investment, holding a total of 60%. Previously, Dalian Wanda Commercial Management directly owned about 69.99% of the total issued shares of Zhuhai Wanda, and indirectly owned about 8.84% of the total issued shares through Zhuhai Wanxin, Zhuhai Wanying and Yinchuan Wanda; Twenty-two companies and six senior executives hold shares, holding 21.15% of the shares.

In other words, after the signing of the new agreement, the shareholding ratio of Dalian Wanda Commercial Management Group in Zhuhai Wanda Commercial Management Group decreased by at least 29.99%, while the shareholding ratio of the aforementioned investors increased by 38.85%.

According to Blue Whale Finance, Zhuhai Wanda Commercial Management Co., Ltd. will mainly introduce foreign investors, and some of the original domestic investors will withdraw. Another investor of Zhuhai Wanda Commercial Management Co., Ltd. also said that at present, the investors of Zhuhai Wanda Commercial Management Co., Ltd. are indeed overseas investors, but the list of new investors has not been completely determined. Regarding whether Zhuhai Wanda Commercial Management Association will redeem the investment on schedule when it expires, the above investors said, "After Zhuhai Wanda Commercial Management has talked with the new investors, it is expected that there will be a transitional stage for the withdrawal of the original war investment, and the process is more complicated. At present, all parties are discussing."

According to china securities journal, people close to Wanda responded by signing a new agreement. Some existing investors chose to withdraw from the investment, but the vast majority of investors kept their investment in Wanda. More importantly, new investors entered, including some overseas investors, which showed that investors highly affirmed the growth potential of Zhuhai Wanda Commercial Management and its operating ability.

Zhuhai Wanda Commercial Management signed a gambling agreement with investors. First, the actual net profit from 2021 to 2023 should not be less than 5.19 billion yuan, 7.43 billion yuan and 9.46 billion yuan, otherwise Wanda Commercial Management will transfer the relevant number of shares at zero consideration or pay cash compensation; Second, it will be listed in 2023 at the latest, otherwise Wanda Commercial Management will buy back shares from investors and pay extra compensation.

According to the performance data disclosed by Wanda, Zhuhai Wanda Commercial Management has exceeded its performance target for three consecutive years, with after-tax income of 23.5 billion yuan in 2021, 27.1 billion yuan in 2022 and 29.3 billion yuan in 2023 (estimated), with an average annual growth of about 12%; After-tax profit is 5.3 billion yuan in 2021, 7.5 billion yuan in 2022 and 9.5 billion yuan in 2023 (estimated), with an annual growth rate of 34%.

According to the interim report of Wanda Commercial Bond (2023), the company’s interest-bearing debts within six months totaled 15.84 billion yuan. In other words, Wanda Commercial Management still has 15.84 billion yuan of interest-bearing debt due during the year. The above report also shows that Wanda Commercial Management’s interest-bearing debt due in the first half of 2024 is 13.417 billion yuan.

According to the 2023 Hurun Rich List released by Hurun Research Institute on October 24th, the Wang Jianlin family of Wanda was among the richest people with the largest decline in wealth this year, and its wealth dropped by about 53 billion yuan.

edit|Du Hengfeng Du Bo, Cheng Peng

Proofread |Duan Lian

Cover Image Source: vision china

National business daily is integrated from company announcements, Blue Whale Finance, china securities journal, Wanda official website and public information.

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