广州蒲友网 – 爱上海419论坛-阿拉上海后花园419-夜上海最新论坛社区-上海品茶工作室

Geely Automobile once again exerted its strength, amazing, surprising and surprising.

The richness of the configuration is closely linked to the cost performance of a car, and many people have mentioned it. As for its advantages, please read on.

Let’s take a look at the appearance of Xingyue L. The front design of Xingyue L is dignified and looks sporty. Coupled with the soft headlights, many interesting details can be seen from the inside. The car is equipped with LED daytime running lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Come to the side of the car, the car body size is 4770MM*1895MM*1689MM, the car uses steady lines, the car body gives a very elegant feeling, with large-size thick-walled tires, eye-catching shape. In the rear design, the rear line of Xingyue L is hard-line, the taillights look very full, and the unique exhaust pipe is relatively simple overall.

In terms of interior, the overall visual effect of Xingyue L interior is very distinctive, and the overall shape is remarkable. The steering wheel of the car is very in line with the interior style, and it is made of leather, giving a good grip experience. From the central control point of view, the 12.3-inch central control screen is used for decoration, which makes the interior design quite layered and soft. The interior feels good. Let’s take a look at the dashboard and seats. The dashboard design is remarkable and looks strong in technology. The car adopts imitation leather seats, which are spacious and thick, with exquisite materials and comfortable ride.

Xingyue L matches the automatic manual transmission (AT) gearbox, with the maximum power of 175KW and the maximum torque of 350N.m, and the power performance is good.

The car is equipped with car networking, driving mode selection, remote control key, Bluetooth key, rear wiper, interior atmosphere light and other configurations, which greatly improves the convenience of using the car.

The car introduced today is remarkable in terms of space, configuration and power, and home travel is also a good helper. Xiao Bian suggests that your heart is not as good as action, so go to the 4S shop to talk about the discount.

Red Army primary school student representatives and national flag guards join hands to celebrate the 80th anniversary of the victory of the Long March

　　China Youth Network, Beijing, September 22(Reporter, Zhang Yanliang, Qian Ming) On September 22, accompanied by the solemn national anthem of the People’s Republic of China, seven "Little Red Army" from the old revolutionary base areas, dressed in Red Army military uniforms, watched the flag-raising ceremony in Tiananmen Square for the first time under the organization of the National Red Army Primary School Construction Engineering Council. On behalf of teachers and students from 230 Red Army primary schools across the country, they received a sacred patriotic education and baptism on the occasion of the 80th anniversary of the victory of the Red Army’s Long March. The seven primary school students are also the main actors of the movie "Red Army Primary School", from Sichuan, Chongqing, Xinjiang and other places.

　　After the flag-raising ceremony, seven primary school students came to the Tiananmen National Flag Guard, visited the escort camp and the military history museum of the army, and learned about the glorious development process of the national flag class and the sacred mission and responsibilities it shoulders. Seven primary school students watched the red-themed movie "Red Army Primary School" with the uncle of the armed police of the national flag guard.

　　Fang Qiang, vice chairperson of the National Red Army Primary School Construction Engineering Council, said that next month will be the 80th anniversary of the victory of the Red Army’s Long March. We have specially invited seven representatives of the award-winning young actors in the children’s film "Red Army Primary School" to Beijing to participate in the flag-raising ceremony, walk into the national flag guard, and participate in the red-themed patriotic education. The purpose of organizing this event is to convey a red revolutionary spirit, that is, to educate children to play heroes, learn heroes, and be heroes, and to educate students to study hard and cherish the hard-won happy life. Remember the teachings of President Xi, so that the spirit of the Red Army and the red hope can be passed down from generation to generation.

　　Wang Jianhua, political commissar of the Tiananmen Detachment of the Armed Police, said in an exchange with the children that the national flag is a symbol of a country and the pride of a nation. The national flag brings people not only glory, but also a patriotic complex. The five-star red flag has been flying in Tiananmen Square for more than 60 spring and autumn, which contains the countless efforts and hardships of the national flag soldiers. The bright five-star red flag embodies the blood of countless revolutionary martyrs. We must learn from each other and jointly safeguard national honor.

　　Fang Qiang, vice chairperson of the National Red Army Primary School Construction Engineering Council and chief planner of the red-themed film "Red Army Primary School", is with the students of the Red Army Primary School. China Youth Network correspondent, Xiong Wei, photo

　　The red-themed film "Red Army Primary School" tells the story of the selfless dedication of the parents and villagers of the old revolutionary base areas to the Chinese revolution. In the 1930s, the Central Soviet District established the "Red Army Primary School" to train revolutionary successors. A group of poor children, under the training of the Red Army School, learn knowledge and culture. They are witty and brave, not afraid of sacrifice, and cover the Red Army teachers and the descendants of the Red Army to break through. The film "Red Army Primary School" is all set in Bazhong, Sichuan, Nanjiang County, Enyang Ancient Town, and the Museum of the Sichuan and Shaanxi Revolutionary Base Areas.

　　It is reported that the National Red Army Primary School Construction Project Council will also hold a "Red Army Primary School" film reception at the Beijing Film Academy, and hold an award ceremony in the Great Hall of the People in Beijing to commemorate the 80th anniversary of the victory of the Long March, the 10th anniversary of the construction project of the Red Army Primary School, and the outstanding actors and filial piety teenagers of the red classic children’s feature film "Red Army Primary School".

Cadillac XT6 car series analysis and pricing is close to the people and high-end.

Due to the different policies in different places, the development of fuel vehicles and new energy vehicles in different places is also different. What I bring to you today is that it has many highlights. Let’s get to know each other.

Let’s take a look at the appearance of Cadillac XT6. The front face style of Cadillac XT6 is very capable, and the grille is lattice-shaped, which looks very sporty. Coupled with the headlights, the overall look has a certain sense of hierarchy. The car is equipped with LED daytime running lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Come to the car side, the car body size is 5056MM*1964MM*1780MM, the car uses avant-garde lines, the car body looks very simple and fashionable, with large-sized thick-walled tires, smooth lines running through the whole car side. In the design of the rear end, the rear end and the front face echo each other from a distance, the taillights are very soft, and the shape is relatively young and individual.

Coming into the Cadillac XT6 car, the interior design of Cadillac XT6 looks more fashionable and elegant, and the visual effect is very good. The steering wheel of the car is very round and lovely, and it is made of genuine leather, which makes people fondle it. Take a look at the central control, with the 8-inch touch-sensitive LCD central control screen, which makes the interior design quite layered and looks quite eye-catching. Let’s take a look at the dashboard and seats again. The dashboard of this car presents an angular design style and looks strong in science and technology. The car uses leather seats, which are wide and thick and comfortable.

Next, look at the configuration. Cadillac XT6 is equipped with car networking, driving mode selection, remote control key, rear center armrest, rear wiper and other configurations.

After reading this car, I believe you have a general understanding. This class of car is usually the first choice for most people. First of all, it is not expensive, and secondly, all the configurations are quite complete, which is still very worth starting with.

Express delivery is becoming an important symbol of smooth economic cycle.

CCTV News:"Now that the economic situation is not smooth, whether you can receive express delivery is a sign!" On June 10th, the Propaganda Department of the CPC Central Committee held a press conference on the progress and effectiveness of accelerating the construction of a transportation power in the new era. When answering a reporter’s question, Dai Yingjun, deputy director of the State Post Bureau, said that express delivery has entered thousands of households, and it has become a living habit of people and an important symbol of smooth economic cycle.

Dai Yingjun introduced that the postal system is one of the country’s important strategic infrastructure and social organization systems. The postal express service industry has played an important role in serving the country’s major strategy, fighting epidemic and ensuring supply, and ensuring smooth communication, and has made industry contributions to opening up the aorta and unblocking microcirculation. In the past ten years, the business income of the postal industry has increased from 198.09 billion yuan to 1,264.23 billion yuan, with an average annual growth rate of 22.9%, and the ratio with the national GDP has increased from 0.37% to 1.11% last year. The volume of express delivery business increased from 5.7 billion pieces to 108.3 billion pieces, 19 times of the original.It has ranked first in the world for eight consecutive years..

At present, the total length of China’s postal route (one-way) exceeds 10 million kilometers, the total length of express service network (one-way) exceeds 40 million kilometers, and there are 413,000 postal express outlets. Basically, a postal express network covering the whole country, going deep into the countryside and reaching the world has been built. The transportation capacity of high-speed rail express and air express has been continuously enhanced, and intelligent facilities and equipment such as unmanned warehouses, unmanned vehicles and drones have been accelerated. The maximum daily processing capacity of express mail is nearly 700 million pieces. At present, the express delivery outlets have basically achieved full coverage in towns and villages, and the coverage rate of express delivery services in established villages has exceeded 80%, with an annual per capita express delivery volume of nearly 77 pieces.The user satisfaction of postal express service has remained at a high level.

In terms of integration and development with modern agriculture, more than 1,000 "one city, one product" projects with postal service agricultural special products entering the city have been cultivated, and 100 gold medal projects with express service and modern agriculture with annual business volume exceeding 10 million pieces have been cultivated. There are big cherries in the north, passionfruit in the south, kiwifruit in the west and dried seafood in the east. "township offices, village-to-village postal services",Effectively served the poverty alleviation and rural revitalization strategy.. In the aspect of integrated development with manufacturing industry, the modes of inbound logistics and warehouse distribution integration have been formed, and the service capacity of supply chain has been gradually enhanced. In terms of integration with e-commerce, the postal express delivery industry has become an accelerator for commodity circulation and the main channel for serving e-commerce users. The annual online retail sales of physical goods have exceeded 10 trillion yuan.

Express delivery is "everywhere"! Since the 18th National Congress of the Communist Party of China, the policy dividend of postal express delivery industry has been continuously released, the level of automation and intelligence has been continuously improved, the circulation cost has been accelerated, and the scale advantage has been accelerated, which has strongly supported the accelerated development of various e-commerce companies and greatly facilitated the people to enjoy online shopping.Express delivery has entered thousands of households, becoming a living habit of people and an important symbol of smooth economic cycle.

In addition, it also provides an independent and controllable channel for domestic and international double circulation. Actively promote the "express delivery to the sea" project, continue to increase the construction of cross-border networks, and accelerate the construction of a global international postal express hub cluster. The postal express delivery industry is making positive contributions to ensuring the safety of the international supply chain and building a new development pattern of services by strengthening cross-border services throughout the chain.

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.

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.

Hong Jinbao was shocked to hear of his ＂death＂： Thousands of people called to ask if I was dead

　　A generation of kung fu superstar Samuel Hung was misinformed of his death

　　On December 9, the Modern Express reported: "A generation of kung fu superstar Hong Jinbao passed away suddenly last night. After the reporter learned of the bad news from his colleagues in Hong Kong, he urgently contacted a senior official of the Hong Kong Emperor, who confirmed the news."

　　West China Metropolis Daily reported on December 10It was not uncommon for a man to change his mind, and the woman in question always seemed to be the last to know. When someone else called and found out that he was dead, there was probably nothing more "broken" than this, but yesterday this scene really happened…

　　Yesterday, a media outlet in Nanjing published a shocking piece of news – "Kung Fu Superstar Hong Jinbao Rumored to Have Died", which claimed that Hong Kong kung fu superstar Hong Jinbao died suddenly on the evening of December 8. The rumor was later confirmed by a senior official of the Hong Kong Emperor. After the news was published on some websites, it immediately attracted a lot of attention from readers, and the entertainment industry was even more shocked. Even Hong Jinbao’s friend Jackie Chan expressed concern about it. After several confirmations, our reporter connected to Hong Jinbao and exposed the true face of this fake news.

　　A. The media

　　The circle was shocked by the sudden death news

　　The report said that a generation of kung fu superstar Hong Jinbao died suddenly last night. After the reporter learned of the bad news from his Hong Kong counterpart, he urgently contacted a senior official of the Hong Kong Emperor, who confirmed the news. By the time of the reporter’s deadline, the cause of Hong Jinbao’s death was not clear, except that he did not die in Hong Kong. When the Hong Kong media got the news, they rushed to Hong Jinbao’s home and a bar he invested in in Hong Kong to inquire about the situation. It is reported that on November 30, Hong Jinbao was still in good health when he attended the event in Guangzhou.

　　When the news came out, like a bomb, it became the headline news of various entertainment websites, and many websites also launched the life and commemoration of Hong Jinbao. "The death of a generation of kung fu superstar Hong Jinbao, the cause of death is unknown", "It is reported that Hong Jinbao passed away, and his junior brother Yuan Hua was shocked when he heard of it", "Jackie Chan was in a hurry when he heard the news of his death". On some websites, "In Memory of a Generation of Kung Fu Superstar Hong Jinbao", there is also a tribute article, which reads: "When it comes to kung fu movies, we cannot fail to mention Hong Jinbao. In my impression, many kung fu movies of Hong Jinbao can be called classics, and he is worthy of the title of kung fu superstar. However, while we are enjoying the charm of Hong Jinbao’s kung fu, the sudden death of a generation of kung fu superstars is

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Hexi District Gangyunli Community Docking Institute of Physical Education Quality Volunteer Service Resources Sports Guidance into Community Sports Fitness More Scientific Scan Code Read Mobile Editio

　　Tianjin North Network News:Gangyunli Community, Yuexiu Road Street, Hexi District, is an old community, with half of the population over 60 years old. There is a fitness team in the community, and the old people hope to have professional teachers to guide them. Volunteers from Tianjin Institute of Physical Education came to the community yesterday to give you professional sports guidance.

　　The volunteer team first brought a traditional martial arts performance to the residents, with one stroke and one style flowing, and the spirit infected the community residents. In order to let the elderly in the community better participate in fitness exercises, the students took everyone to start eight brocade sessions. Volunteers also brought body fat testing instruments to help the old people make a more reasonable fitness plan. Sun Wenyuan, a 69-year-old resident, is a social sports instructor. Today he comes to study with a task. Sun Wenyuan said: "We must play Baduanjin for morning exercises and evening exercises every day. Today, I just want to study again, learn from each other’s strengths, and go back to communicate with more players. " Some residents said: "We hope that they will come to the community often, and then teach us softball and fitness dance to drive our elderly people to participate in fitness activities."

　　Since this month, the Hexi District Committee of the Communist Youth League has launched the action of caring young volunteers to help the elderly, and introduced young teachers and students from different universities and colleges to serve the community. Li Yiran of the Youth Development Department of the Hexi District Committee of the Communist Youth League said: "We have contacted Tianjin Institute of Physical Education, Tianjin Conservatory of Music, Tianjin University of Finance and Economics, Tianjin Labor and Social Security Technician College and other universities to provide health clinics, opera guidance, mobile phone classes and other activities to match the specific needs of residents and ensure that our high-quality volunteer service resources can accurately connect with various communities."

　　Yang Chunhui, the person in charge of Hong Kong Yunli Community, introduced Beijing Opera, poetry recitation, dance and other projects. Professional teachers went to the community to help them develop the community, and at the same time trained some cultural community backbones to better help the community develop. (Jin Yun News Editor Sun Chang)

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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