Zhang Dongchen of China Star Network: Running the Party’s leadership through the whole process of company formation and development-State-owned Assets Supervision and Administration Commission of the

China Satellite Network Group Co., Ltd. (hereinafter referred to as China Star Network), as the main body of the enterprise building the satellite Internet system, earnestly studies, publicizes and implements the spirit of the 20th Party Congress, gives full play to the leading role of the party group in guiding the direction, managing the overall situation and ensuring implementation, runs the party’s leadership and party building through the whole process of the company’s establishment and development, earnestly fulfills the responsibility of managing the party and enterprises, and makes greater contributions to promoting high-quality development.

Give full play to the role of the party group in the direction of enterprise construction and ensure that it always advances in the correct political direction.As a newly established central enterprise, China Star Network firmly puts political responsibility in the first place, deeply understands the position, viewpoint and method of the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era, continuously strengthens the political consciousness, ideological consciousness and action consciousness of undertaking the mission and serving the country, and promotes the decision-making and deployment of the CPC Central Committee to be effective to the letter.

In-depth study and implementation of the spirit of the important instructions of the Supreme Leader General Secretary, to find the initial heart, direction and road, and to ensure that the company’s development strategy is not biased. Always follow the spirit of the important instructions of the Supreme Leader General Secretary, establish a closed-loop working mechanism of continuous learning, research and deployment, implementation, tracking and supervision, comprehensive evaluation, improvement and promotion, and earnestly implement the spirit of important instructions in the whole process of system construction and company development. Formulate the outline of development strategy, prepare the development plan of the 14th Five-Year Plan, put forward the concept definition of satellite Internet, demonstrate the formation of the construction concept of "network-oriented, system-optimal" and the evaluation criteria of "advanced, adaptive, economical and safe", and effectively promote the start of satellite Internet.

Taking the opportunity of studying, propagating and implementing the spirit of the 20th Party Congress and the study and education of the history of the Party as an opportunity, we should lay a solid foundation for the political background of the first generation of system builders, and ensure unity of thinking and keeping pace. By studying theories, reports, party history and advanced knowledge, cadres and employees can be promoted to change their ideas, integrate into new undertakings, enhance their centripetal force, change their methods, integrate into new mechanisms, enhance their competence, change their work style, integrate into new teams and enhance their combat effectiveness. Deeply practice the work style of struggle, innovation, unity and hard work, and create a good atmosphere for the director to start a business and take responsibility by looking at the attitude, action and results.

Give full play to the role of the party group in managing the overall situation in innovation and development, and strive to build a world-class satellite Internet company.As the main body of the enterprise building the satellite Internet system, China Star Network Party Group implements the new development concept completely, accurately and comprehensively, pushes forward innovation in depth, continuously shapes new development momentum and advantages, and strives to undertake the strategic mission of supporting the national strategy, leading scientific and technological innovation and promoting industrial development.

Innovate the operation management system. We will carry out the "five new" work method with the new definition of network system, new standards of technical products, new mechanism of engineering organization, new mode of business operation and new vitality of enterprise development as the main contents, and strive to build a strategic, innovative, platform-based and agile "four-type" enterprise. Based on the reality of system construction and the initial construction of Star Network, according to the management mode of "strategy+operation", the mechanism of "one has three noes" is implemented, and the reuse plan of personnel and teams is implemented. Under the premise of definite responsibilities, business processes and work standards, the ability transformation without fixed organizational boundaries, unconditional resource sharing and barrier-free is realized, and the vertical connection of operation management, horizontal coverage of operation guarantee, efficient and intensive resource allocation and overall reuse of technical capabilities are promoted.

Innovative system engineering methods. Adhere to parallel development in the whole life cycle, carry out design verification based on digital models, continuously improve the efficiency and quality of system construction, reduce costs and risks, and optimize user experience and industrial ecology. Give full play to the role of satellite Internet business organization platform, take technical product standards as the guide, take market-oriented mechanism as the basis, and take strategic partners as the support, and strive to build a new supply chain system that is safe, stable, agile and efficient, dynamically optimized, open and win-win. Explore the establishment of a diversified supplier system and a safe backup mechanism, build a common service platform for upstream and downstream enterprises to trade products and exchange technology, and strive to improve the resilience and safety level of the industrial chain supply chain.

Innovative scientific and technological research model. Pay attention to the combination of independent innovation, cooperative innovation and open innovation, compile the atlas of satellite internet technology product system, formulate the key core technology research plan, and follow the technical laws to advance in stages. Set up a professional technical team, organize domestic high-level professional and technical personnel in aerospace, electronics, communications and other fields to carry out collaborative research, and resolutely win the key core technology battle. Accelerate the layout of scientific and technological forces, take the creation of national key laboratories as the starting point, promote the layout of scientific and technological innovation platforms at the core and close levels, strengthen basic research, applied basic research and key technology research, and create a source of original technology. We will build a standards-based intellectual property system, implement the "three navigation" project of intellectual property pilot, escort and voyage, clarify the rules of intellectual property ownership and value sharing, and mobilize the enthusiasm of technical research.

Give full play to the role of party group guarantee in the promotion of key tasks, and promote the deep integration of party building and scientific research management.China Star Network Party Group adheres to the style of managing cadres to gather talents, laying a solid foundation at the grassroots level, and building a strong spirit, transforming the party’s political and organizational advantages into development advantages to overcome difficulties, and concentrating on completing the key tasks of system construction and company development.

Highlight the stimulation of vitality and promote the deep integration of cadre talent team construction and market-oriented mechanism reform. Implement the strategy of "talent star network", establish and improve the cadre talent management system and working mechanism, set up the chief teacher system and promote the organic integration of administrative line and technical line, increase the attraction to high-level professionals, and build a satellite Internet talent highland. Through career attraction, market allocation and other means, quickly gather the core team that effectively supports system construction. In the affiliated enterprises, we will explore the leading group construction mechanism led by the leading group of the group and the deep participation of the principal responsible persons of the secondary enterprises, implement the contract management of the tenure system, and strive to build a team of high-quality professional cadres who are worthy of heavy responsibilities.

Highlight organizational empowerment and promote the deep integration of the party’s organizational construction with the group’s key tasks and team capacity building. According to the layout of the company’s business capacity, we should set up party organizations at the same time, formulate the construction plan of the party building system, promote the scientific research management and key work of party building, and realize "two full coverage". Adhere to the key and difficult points of scientific research management as the starting point and contribution point of party building innovation, and set up the party member Innovation Team around the key and difficult tasks such as the implementation of "milestone plan", the construction of "digital star network" and tackling key technical problems. We will implement the "all-line integration" plan for party building, establish a working mechanism of sharing party building resources, discussing innovative ideas, holding important activities together, and sharing experiences and practices, so as to realize the simultaneous promotion of party building innovation through linkage from top to bottom.

Highlight spiritual cultivation and promote the deep integration of ideological and political work and corporate culture construction. Carry forward the great spirit of party building, coordinate the education of ideals and beliefs, the education of situation and tasks, and the propaganda of typical tree selection, carry out the "cultural innovation action", continuously cultivate the spirit of Star Network in the new era, and guide party member cadres to remember and practice the "Three Musts". Do a solid job of "I do practical things for the masses", build a community exchange service platform of Starnet, improve the closed-loop working mechanism of finding problems, studying problems, solving problems and evaluating the effectiveness, and create good conditions for cadres and employees to start businesses without distractions.

Highlight strict management and love, and promote the deep integration of discipline, discipline, anti-corruption and compliance management. Deepen the publicity and education of the party’s work style and clean government, and create a good atmosphere of obeying laws and regulations and forging ahead. Innovatively build a "seven-in-one" comprehensive supervision system, coordinate all kinds of supervision forces such as investors, organizations and personnel, financial assets, and inspections, and carry out supervision services such as law, internal control, risk, compliance, auditing, accountability, and discipline inspection, forming a normal and long-term supervision force. Work together to promote the integration of the rule of law system, rule of law ability and rule of law culture, carry out "looking back" on the construction of rules and regulations, continuously optimize and solidify the management system, and strengthen execution.

(The author is Zhang Dongchen, Party Secretary and Chairman of China Satellite Network Group Co., Ltd.)

[Editor: Jia Zheng]

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Yang Mi will join hands with Tony Leung in a new film, shooting martial arts, eager to "be abused"


Yang Mi transforms into an "angel"


The guests held an ice-breaking ceremony

  Movie Network News(Photo/Yang Nan, text/Liu Fangzhou) On August 1, the film producer held a summer 85 million box office celebration in Beijing and announced four new film plans on the spot. The heroine Yang Mi attended the event and smashed the ice sculpture symbolizing the box office record. When it was learned that there would be an opportunity to cooperate with actor Tony Liang, Yang Mi admitted that he would definitely be nervous, but it was also a good learning opportunity.


I need to hear what you have to say.


Yes, it’s you, handsome guy, come on stage


I’m so happy, it’s my relative who won the lottery.


Yang Mi

Yang Mi’s "The Wind Listener" will cooperate with Tony Leung, admitting that the best actor makes her nervous

  Due to the huge popularity gathered after Yang Mi starred in "Palace", the thriller "Far Cry" created a box office miracle of more than 80 million in the summer, which made the film distribution company gradually began to pay attention to the "fan marketing model". The producer saw the potential of performing different types of films from Yang Mi through these successful examples, and specially created four films for her. The highlight of this is "The Wind Listener," which will be filmed in October. The film is directed by Mak Zhaohui, the creator of other famous films, and written by Zhuang Wenqiang. It is set in the 1950s. It tells the story of a blind genius with keen hearing who is involved in a spy scandal. Yang Mi said that "I like watching Leung Chaowei’s movies very much, but I am afraid that I will be very nervous to see him. Being able to play the opposite role will be a good learning opportunity."


Yang Mi’s beautiful legs are also one of her labels


Yang Mi


Yang Mi turns the "Turandot" poster

Yang Mi’s martial arts drama longs to "be abused" and "Turandot" plays two roles

  One of the four films announced this time is "Great Wudang," which is directed by Liang Baijian’s director Yuan Kui as the martial arts director. The film will go to Wudang Mountain for live shooting. It is an action movie that embodies the spirit of Taoism with Taoist boxing. Yang Mi will play a thief who steals seven treasures and fights with other actors. The martial arts director Yuan Kui announced his training plan on the spot, and will take Yang Mi to the mountain for "training" for two weeks. Yang Mi said that he has some martial arts foundation but is obviously not qualified to be qualified for the role in this film. It is a special honor to have an experienced martial arts instructor like Yuan Kui, and he longs to be "abused" in the play.

  "Butterfly Cemetery," a novel by the writer Cai Jun that has been adapted for the big screen, has also been adapted into a new film project. Yang Mi will play a college student who is deep in the unknown to explore the secrets of Butterfly Cemetery. Cai Jun said that "the adapted story can better reflect Yang Mi’s personality. The whole film has elements of love, which is beautiful and a little thrilling."

  In order to unearth Yang Mi’s "characteristics", the producers specially arranged for her to star in "Chinese Princess Turandot", which is adapted from the famous opera "Turandot". Yang Mi will play the roles of a princess and a slave girl, which will be a great challenge for her acting skills. Screenwriter Chen Khan also came to the celebration. He said that the script had been written three years ago, and he had been suffering from the lack of suitable actors. After seeing Yang Mi, he felt that she was suitable for the role of the princess in it.


This friend, you have won the lottery.


Who won the lottery?


Yang Mi interacts with fans on the spot


Director Liang Baijian

Yang Mi’s schedule is full of masks, and his appearance has not changed much, breaking the rumors of cosmetic surgery

  Yang Mi had just arrived from the set in Hangzhou in the morning. After attending the event, she was going to Shanghai to film in the evening. The whole schedule was full. The organizers specially invited Yang Mi’s grandfather and grandmother to make up for her wish that she could not accompany her family for a long time in filming. Yang Mi’s fan "Bee" also came to cheer for the idol and offer her carefully prepared gifts. Yang Mi did not wear a mask this time, and his appearance was not much different from before, which broke the rumors of plastic surgery to a certain extent.

Next page More wonderful pictures

Will the taxi "share" road be long?

    On the one hand, if the supervision is weak and the punishment is not strict, "joint taxi" can easily become "forced rider", which will harm the interests of passengers and cause chaos in the taxi market.The serious changes in the implementation process, the frequent phenomenon of bullying and slaughtering passengers, make passengers vulnerable again. Even if strict supervision can be achieved to prevent "forced competition" to the greatest extent, many problems in the process of "joint rental" will seriously hinder the pace of passengers "sharing".

    As far as passengers are concerned, if passengers are new to the city, destination and bus route, they are often very cautious. In order to arrive at the destination safely and as soon as possible, they generally do not accept "shared rides".If a passenger is already familiar with the road, he or she may no longer worry too much about safety issues, but he or she will also calculate in his mind whether "carpooling" will delay time, whether it will take a detour, whether it will obviously save the cost of a taxi, and if it cannot achieve obvious results, I am afraid that "carpooling" will not generally be accepted. Furthermore, it is not easy for passengers to agree on the destination and route of the bus in the very limited time on the roadside. What’s more, the trust between people in our country is not high at present, and "don’t talk to strangers" has even become the code of conduct for traveling.

    From the taxi driver’s side, there are technical problems that are difficult to solve, that is, passengers who get off the taxi early cannot get tickets; secondly, there are unwritten rules inside the taxi "do not tear down each other and do not grab business"; thirdly, it is sometimes difficult to distinguish between "multi-person taxi" and "multi-person ride".In addition, they are also worried that they will be complained because of many problems in the "ride-sharing" process, such as "refusing to take a ride" that cannot be agreed upon, whether to take a detour during the delivery process, etc. After all, there are many things that are difficult to prove their innocence. Drivers are more willing to "do more than less", and more importantly, drivers will not significantly increase their income because of "ride-sharing".

The morning newspaper is super informative. "Fox Hunting Action" Liang Chaowei and Duan Yihong staged the police and bandits chasing "Long Song Xing" and exposed Dili Reba Wu Lei setting makeup photos

Fresh information morning call is all in the morning newspaper

 

In the blink of an eye, July is about to pass, and the hot summer is coming to us step by step. Are all the friends ready to welcome summer? I believe some people, like some girls, love and hate summer. After all, the hot sun is really hard, but don’t worry. Our morning paper is accompanying you.

The trailer is fresh to watch | The movie’s first exposure trailer, Liang Chaowei and Duan Yihong staged a police and bandit chase

 

The ends of the earth, if there is an escape, we will chase after it! Yesterday, the movie "released a trailer, announcing that we will see you in theaters in 2021.

The film was directed by director Zhang Lijia and starred Tony Leung, Duan Yihong, Xiahou Yunshan, Zhang Aoyue, etc. The film is based on a true story"Chinese Fox Hunting Team"As a character prototype, it tells the story of the investigation police of the Ministry of Public Security of China going overseas to capture fugitives from economic crimes. Let’s look forward to the acting skills of Tony Leung and Duan Yihong together with the girl who has materials.~


Overseas Telescope | Fatty Blue invites you to take an adventure together! The theatrical version of "Doraemon" has revealed new predictionssue

 

A few days ago, the 40th theatrical version of the "Doraemon" series released a new trailer, announcing that it was about to hit. In the trailer, Fatty Lan kindly shouted to the audience in front of the screen: "Thank you for waiting so long, we are coming, let’s take an adventure together!"

The film tells the original story of Nobita and a pair of twin dinosaurs after meeting. Directed by Imai Ichiaki and written by Kawamura Genki, this year happens to be the 50th anniversary of the birth of Doraemon, Mr. Children will also sing the theme song "Birthday" and "Jun ねたモノローグ》。 It is reported that the film was originally scheduled to be released in Japan on March 6 this year, but was later changed to August 7 due to epidemic reasons. Friends who like Fatty Blue don’t miss it~

Those things about starsShu "Long Song Store" exposed Di Lizheba Wu Lei’s setting photo, Zhu Yilong raised the file

 

 

"Long Song Xing," a TV series adapted by the famous cartoonist Xia Da with a long comic of the same name, has released setting photos. The show is directed by Zhu Ruibin, the director of several hit dramas such as "Honey Sinks Like Frost" and "Stewed Sydney with Rock Sugar". It stars Di Reba and Wu Lei, and stars Liu Yuning, Zhao Ruth and Fang Yilun.

In the setting photo, Di Lizheba (played by Li Changge) is dressed in military clothes, and her expression is forbearing but difficult to hide her heroic appearance. Her eyes are full of perseverance and determination, which shows Li Changge’s character and temperament vividly; Wu Lei (played by Ashna Falcon) has a half-covered face, but still sees his sword eyebrows, stars and youthful elegance. Who can not sigh "The falcon strikes the sky, and the phoenix song flies thousands of miles". "Changge Xing" tells the story of the protagonist Li Changge, Ashna Falcon, Li Leyan and other young people of a generation who grow up in hardship, nirvana in bad luck, realize that peace in the world is the well-being of people’s livelihood, and gradually grow into heroes with the righteousness of their family and country. Whether it is the cast or the plot, the girls are very much looking forward to it. How about you?

The star news continues! On July 14, the official Weibo of "Restart the Arctic Sea Listening to Thunder" announced that the show will be released on July 15. The article said: "Thank you for your attention to the first season of" Restart the Arctic Sea Listening to Thunder ". I would like to express my sincere apologies to everyone here. Due to the communication error of the southern faction pan-entertainment staff, the wrong schedule was released. After many discussions, the launch date of the first season of" Restart the Arctic Sea Listening to Thunder "will be advanced."

Along with the first trailer and a new poster, the "Iron Triangle" of Wu Xie, Fatty Wang and Zhang Qiling reunite after a decade and embark on a journey of adventure again. In addition to the thrilling plot, the trailer also revealed a large number of clips of action scenes, rain scenes and explosive scenes, as well as scenes of actors flying over the eaves and climbing on the wall, which entertained the audience. Previously, Zhu Yilong also said that the new skill learned in the crew is called falling. He said: "It’s not wrestling, it’s just falling to the ground by yourself. It has to be big and real, and at the same time you have to fall emotionally." It is reported that the "restart of the polar sea listening to thunder" by the Nanpai third uncle personally produced and scripted, Pan Anzi directed, Zhu Yilong, Mao Xiaotong starring, Hu Jun, Chen Chuhe, Chen Minghao, Huang Junjie, Huang Mengying, Xie Junhao, Qu Ying, Liu Chang and other starring.

Movie Calendar | Reiza was born

(The specific broadcast content is subject to TV)

Want to get more fresh movie information, one-hand love beans, exclusive live video, don’t hurry to download CCTV6 movie channel app, there are materials waiting for you to make an appointment!

Qingxia Lin, 69, had an accident late at night

  "In fact, I went to give a speech that day because I was injured and suffered pain." Lin Qingxia, a famous movie star, recently published a long article, recounting that when she gave a speech at a university last month, she actually cracked two ribs and gave a speech on stage.

Qingxia Lin, 69, had an accident late at night

  Photo: Qingxia Lin Weibo

  Lin Qingxia said in the long article that the speech was on June 15, but at 11:00 pm on the 13th, she took half a sleeping pill and wanted to recite the speech again before going to bed. At 11:30, she took another sleeping pill, "I don’t know why this one and a half still makes me sleepless all night. Seeing the time pass by minute by minute, I was anxious to swallow another half, and I fell asleep unknowingly. When I felt a big turn, there was a loud’pop ‘sound, that was the sound of my ribs hitting the slate…"

  After falling out of bed, Lin Qingxia felt pain in her left chest. In order not to affect the rest of the trip, she carried out related activities according to the original schedule on the morning of the 14th, provided that she could bear the pain in her body. But when she finished lunch and got up, she felt a "thump" in her ribs, which made her have to worry about her physical condition.

  Lin Qingxia, who did not want to go to a big hospital, chose a clinic with better privacy. At this clinic, Lin Qingxia took X-rays. After seeing the X-rays, the doctor said: "The bones are not cracked, there is no congestion." This made her relax.

  Later, a friend advised Lin Qingxia to go to the hospital for another examination, saying that the hair-like cracks could not be seen the first time, but would be found the second time. Then, she took two X-rays, and the doctor told her that two ribs were cracked, and it would take about two months to heal.

  Lin Qingxia, who will turn 70 in a few months, did not talk too much about her pain, but expressed her story with the mentality of "actually I am very lucky". She said: "Although I broke my ribs, I am very grateful. I am grateful that my face was not scratched when I rolled off the bed, and my ribs were cracked but it was not a big problem."

  A little more news

  Avoid fractures "Prevent falls + treat bone looseness"

  The elderly are at higher risk of osteoporosis, especially women. Osteoporosis can lead to multiple fractures throughout the body, with hip, spine and wrist fractures being the most common. Bone density testing is the most effective screening method for osteoporosis. If the elderly have a fracture due to a minor external force or a flat fall, it is likely to be an "osteoporotic fracture", which means the patient has osteoporosis and needs attention.

  At the same time, with the increase of age, the muscles of the elderly are atrophied, normal muscle tissue has become adipose tissue, and the strain capacity of the elderly will be correspondingly reduced. Therefore, for the elderly, muscle exercise can promote the improvement of the elderly’s strain response ability. In special circumstances, the central nervous system can issue instructions in time to make the muscles contract quickly, so as to prevent the elderly from falling.

  Prevention of fractures is more important than treatment. In terms of lifestyle, it is necessary to strengthen nutrition and increase the intake of calcium-rich foods, such as dairy products, soy products, seafood, nuts, green leafy vegetables, etc.; ensure adequate and direct sunlight, more than half an hour a day; maintain regular exercise, such as walking, playing tai chi, dancing, practicing yoga, etc.; quit smoking, and avoid excessive alcohol consumption, coffee and carbonated drinks.

  Use anti-fall living facilities, such as bathroom anti-skid mats, handrails, etc., and install floor lamps and other devices at home.

Qingxia Lin, 69, had an accident late at night

  ◆ From: Morning News WeChat

[Editor in charge:

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Mingdao has a second child! Post a father-daughter photo to share the son’s reaction when he sees his sister

1905 movie network news  On August 30, the government announced the arrival of the second child, "Welcome, my baby," and posted a warm photo of the big hand holding the small hand, "Hold on to you, I will mix with you in the future~". In the photo with his daughter, the father and daughter are snuggled together, even if they are tired to take care of their daughter and fall asleep, their faces are still smiling. Ming Dao also shared his son’s reaction when he saw his sister, saying that when he saw his sister, he immediately turned into a pet girl maniac and doted on his sister.


Ming Dao’s personal life is handled very quietly. In 2020, he was photographed accompanying his wife Wang Tingxuan to take his son out, and the news of the hidden marriage was accidentally exposed. Now that the second treasure has arrived, it is not only a joy for Ming Dao, but also a motivation for his career. He declared: "I will work harder, study hard, and take good care of a pair of children!"


In the final battle of "Ace to Ace", Wang Yuan responded in seconds and exclaimed that Li Chen, Chen He and Zheng Kai were made difficult.

Video: Ace to Ace 180413 Trailer: Wang Yuan Shen Teng united front against the Running Man family, Li Chen was brutally "betrayed" by Chen He and Zheng Kai?

Zhejiang Satellite TV’s large-scale indoor competitive reality show vivo "Ace vs. Ace 3" will broadcast the season’s strongest final battle at 19:30 on April 13 (Friday). As the last feast of the season, this "Ace" not only advanced the broadcast time to 19:30, but also launched a peak showdown with the representatives of the new season of "Run", marking a perfect end to this season’s "Ace".

Enter the Blueberry Video to watch the latest full video of "Ace vs. Ace" > >

In the show, Wang Yuan and Jia Ling joined hands with Shen Teng and Ouyang Nana for the first time to unite the front against the "Running Man Family Team" composed of Li Chen, Chen He, Zheng Kai, and Ella. At the scene, the two teams showed their superpowers in an interesting and intense ace game. Who could win the last "ace" of the season in the end?

The ace welcomed the strongest final battle, and Wang Yuan incarnated as "Wang Ligament" and exclaimed in seconds

From the cold winter to the warm spring, this family variety show, which carried joy, feelings, and hard work, has inadvertently brought eleven episodes of joy and emotion to the audience. Under the expectations of the public, this season’s "Ace vs. Ace 3" finally ushered in the strongest closing battle. At the scene, the Ace family joined forces for the first time with a high degree of tacit understanding, detonating the cheers in the classic game "Ace tacit understanding guessing".

In previous episodes of the show, Wang Yuan had always been very strong in the "tacit guessing" part. In this issue, the difficulty of "ace tacit guessing" was upgraded. Wang Yuan not only had to rely on Shen Teng and Ouyang Nana’s interpretation to accurately guess the vocabulary, but also carried out the splits to lengthen the performance vocabulary as soon as possible. At the scene, although Wang Yuan was very anxious about the splits, he complained before he even played: "This must be aimed at me." But in the follow-up game session, Wang Yuan not only showed the "divine skill" of answering questions in one second, but also turned into the "Wang ligament" to buy more performance time for his teammates, which caused the audience to exclaim continuously.

Running male family encounters ace "difficult" "real and fake family" warmth transmits positive energy

In this issue, in addition to the wonderful performance brought by the "Ace Family Team", the kicking hall of the "Running Men Family Team" is also quite anticipated. As the premiere guests of the first season of "Ace vs. Ace", Li Chen, Chen He, and Zheng Kai cooperated with each other to bring full joy to the audience. In this issue, coinciding with the closing feast of Ace, the re-integration of the three encountered the problem of the Ace family’s design "difficult".

In the program, Wang Yuan’s "cousin", Shen Teng’s "cousin", Jia Ling’s "sister", and Ouyang Nana’s "sister" all appeared on the stage of Ace, while the Running Man family needed to judge whose family members were not real based on the materials, on-site details, and questions provided by the Ace family. At the scene, the "true and false family members" not only became the "exam questions" of the Running Man family, but also warmly conveyed the positive energy of life. Jia Ling’s "sister" said: "There is a mission to do comedy." It is awe-inspiring. In addition, under the outpouring of the "true and false family members", the Running Man family also told the hardships and hardships behind "Running", which is quite touching. What warm "Running" stories will the Running Man family share? We will wait and see.

In this issue, what kind of wonderful spark will the ace family and the running man family collide? Please look forward to the vivo "Ace to Ace 3" of Zhejiang Satellite TV at 19:30 on April 13 (Friday). In addition, the new season of "Run" of Zhejiang Satellite TV will also be relayed at 20:50 on April 13. Double surprise and double happiness, let’s meet Zhejiang Satellite TV on time on Friday night.

China’s foreign reserves exceed $2 trillion for the first time, and the money supply skyrockets

> > > Enter the domestic channel


  The People’s Bank of China website, July 15In the first half of 2009, the People’s Bank of China implemented a moderately loose monetary policy in accordance with the unified arrangements of the Party Central Committee and the State Council, increased financial support for economic growth, and saw rapid growth in money and credit and abundant liquidity in the banking system.



The money supply rose by 28.46%.


  At the end of June 2009, the balance of broad money supply (M2) was 56.89 trillion yuan, an increase of 28.46% year-on-year, an increase of 10.64 percentage points higher than the end of the previous year and 2.72 percentage points higher than the end of the previous month; the balance of narrow money supply (M1) was 19.32 trillion yuan, an increase of 24.79% year-on-year, an increase of 15.73 percentage points higher than the end of the previous year and 6.09 percentage points higher than the end of the previous month; the balance of money in circulation in the market (M0) was 3.36 trillion yuan, an increase of 11.46% year-on-year. In the first half of the year, the net return of cash was 57.80 billion yuan, and the year-on-year return was 63.90 billion yuan (the net investment in the same period last



Financial Institution Group Renminbi loans increased by 34.44%


  At the end of June, the balance of various RMB loans of Financial Institution Group was 37.74 trillion yuan, an increase of 34.44% year-on-year, an increase of 15.71 percentage points higher than the end of the previous year and 3.83 percentage points higher than the end of the previous month. In the first half of the year, RMB loans increased by 7.37 trillion yuan, an increase of 4.92 trillion yuan year-on-year. From the perspective of sub-sectors: household loans increased by 1.0607 trillion yuan, an increase of 599 billion yuan year-on-year, of which short-term loans increased by 465.20 billion yuan; medium and long term loans increased by 595.50 billion yuan. Loans to non-financial companies and other sectors increased by 6.3096 trillion yuan, an increase of 4.3189 trillion yuan year-on-year, of which short-term loans increased by 1.3193 trillion yuan; medium and long term loans increased by 3.1771 trillion yuan; bill financing increased by 1.7065 trillion yuan. In June, RMB loans increased by 1.53 trillion yuan, an increase of 1.20 trillion yuan year-on-year.


  At the end of June, the balance of foreign exchange loans of Financial Institution Group was 295.40 billion US dollars, an increase of 8.08% year-on-year. In the first half of the year, foreign exchange loans increased by 51.70 billion US dollars, an increase of 3.60 billion US dollars. Among them, foreign exchange loans increased by 37.20 billion US dollars in June, an increase of 35.80 billion US dollars year-on-year.


  After the merger of domestic and foreign currencies, the balance of various loans in domestic and foreign currencies of Financial Institution Group was 39.76 trillion yuan at the end of June, an increase of 32.78% year-on-year. In the first half of the year, new loans in domestic and foreign currencies 7.72 trillion yuan, an increase of 4.99 trillion yuan year-on-year.


  Financial Institution Group RMB deposits increased by 29.02%


  At the end of June, the balance of RMB deposits in Financial Institution Group was 56.63 trillion yuan, an increase of 29.02% year-on-year, an increase of 9.29 percentage points higher than the end of the previous year and 2.34 percentage points higher than the end of the previous month. In the first half of the year, RMB deposits increased by 9.99 trillion yuan, an increase of 5.02 trillion yuan year-on-year. From the perspective of sub-sectors: household deposits increased by 3.1719 trillion yuan, an increase of 975.40 billion yuan year-on-year; non-financial corporate deposits increased by 5.8723 trillion yuan, an increase of 4.2403 trillion yuan year-on-year; fiscal deposits increased by 688.30 billion yuan, an increase of 335.10 billion yuan year-on-year. Among non-financial corporate deposits, corporate deposits increased by 5.2934 trillion yuan, an increase of 3.7665 trillion yuan year In June, RMB deposits increased by 2 trillion yuan, an increase of 1.23 trillion yuan year-on-year.


  At the end of June, the balance of foreign exchange deposits was 208.10 billion US dollars, an increase of 16.01% year-on-year. In the first half of the year, foreign exchange deposits increased by 15.40 billion US dollars, an increase of 3.30 billion US dollars year-on-year. Among them, foreign exchange deposits increased by 2.10 billion US dollars in June, an increase of 3 billion US dollars year-on-year.


  After the merger of domestic and foreign currencies, the balance of deposits in domestic and foreign currencies of Financial Institution Group was 58.05 trillion yuan, an increase of 28.65% year-on-year. In the first half of the year, new deposits in domestic and foreign currencies were 10.09 trillion yuan, an increase of 5.07 trillion yuan year-on-year.


  Fourth, the interbank market interest rate remains low


  In june, the total turnover of rmb transactions in the interbank market was 13.72 trillion yuan, with an average daily turnover of 623.60 billion yuan.


  In June, the weighted average monthly interest rate of interbank lending in the interbank market was 0.91%, 0.06 percentage points higher than the previous month and 2.16 percentage points lower than the same period last year; the weighted average monthly interest rate of pledged bond repurchase was 0.91%, 0.06 percentage points higher than the previous month and 2.17 percentage points lower than the same period last year.



V. National foreign exchange reserves increased by 17.84%


  At the end of June 2009, the balance of national foreign exchange reserves was 2.1316 trillion US dollars, an increase of 17.84% year-on-year. In the first half of the year, the national foreign exchange reserves increased by 185.60 billion US dollars, an increase of 95 billion US dollars year-on-year. In June, foreign exchange reserves increased by 42.10 billion US dollars, an increase of 30.20 billion US dollars year-on-year. At the end of June, the exchange rate of RMB was 6.8319 yuan per US dollar. (End) (Source of this article: People’s Bank of China)

  Related links:



  • Central Bank: Implement moderately loose monetary policy to guide reasonable credit growth 2009-06-25

  • [VIDEO] The money supply is growing rapidly, and RMB loans continue to increase 2009-05-12

  • [VIDEO] The money supply is growing rapidly, and RMB loans continue to increase 2009-05-12

  • Bureau of Statistics: The growth rate of money and credit accelerated in the first quarter, and foreign exchange reserves increased by 2009-04-16

Editor in charge: Wang Jiaolong

Wanda Commercial Management IPO: It seems that the light boat has passed 10,000 mountains, but it is actually moving forward with a heavy burden?

Image source @Visual China

Article | Hong Kong Stock Research Institute

Recently, following the termination of Wanda Commercial Management’s bond issuance plan, the Securities Supervision Commission questioned the authenticity of Wanda’s shopping mall sales data, and the freezing of Zhuhai Wanda Commercial Management’s equity by the court, Wanda Commercial Management encountered "water reverse" again – Fitch released a report downgrading Wanda Commercial Management’s rating, and believes that Zhuhai Wanda Commercial Management may not be able to complete the listing before the end of 2023.

The influx of negative news has cast more and more clouds over Zhuhai Wanda Commercial Management’s fourth impact on Hong Kong’s IPO.

And in the Wanda Group debt pressure, nearly 40 billion yuan bet the deadline is approaching, the Zhuhai Wanda Commercial Management impact on Hong Kong stocks, is also considered to be Wanda’s last battle, for this reason, Wanda opened a new round of "sell sell sell". So, in this case, carrying Wanda’s future asset-light model, can it still be bright?

Zhuhai Wanda Commercial Management is the product of Wanda’s commercial real estate sector.

Wanda’s commercial real estate sector once included commercial real estate development, residential real estate development and commercial property management. It is worth mentioning that Wanda’s real estate sales revenue reached 160 billion yuan at the peak, and then with the official proposal of "real estate and housing not speculation", the development of the real estate industry has gradually returned to rationality.

Under this trend, Wanda Commercial changed its name to Dalian Wanda Commercial Management in 2019, and from then on, its business focus shifted to commercial management. In this regard, Wang Jianlin clearly set the tone that the real estate group "does not pursue sales, exists for commercial management, and digests Wanda Plaza residential facilities every year to maintain tens of billions of sales." This choice is also in line with the development trend of the industry.

At that time, China’s commercial plazas were in the second half of the rapid expansion cycle. Data show that from 2016 to 2021, the growth rate of China’s stock commercial plazas, although declining, still maintained an average annual growth rate of about 15%. The total number of commercial plazas increased from 2,862 to 5,936. For the business management giant Wanda, the business management business undoubtedly has a lot of room for development.

But since then, with the high land prices in first- and second-tier cities and the frequent emergence of "land kings" in the core area, Wanda’s previous asset-heavy business management model of self-built commercial plazas has been unsustainable due to the need to invest a lot of money. Therefore, in 2021, Dalian Wanda Commercial Management will divest its business again, and establish a new subsidiary Zhuhai Wanda Commercial Management to conduct asset-light operations in commercial property management business, and strengthen its business layout in third- and fourth-tier cities.

In fact, compared with real estate companies such as Vanke, Country Garden, and China Resources, which mainly focus on residential development, Wanda has accumulated profound experience in the operation and management of commercial plazas. Moreover, the shift in the focus of industry development has also provided a rare opportunity for its expansion in third- and fourth-tier cities. Since the beginning of the new century, in the construction frenzy of Chinese shopping centers, there have been obvious geographical stratification. In the first ten years, 60% of the new shopping centers were concentrated in four first-tier cities, and then began to gradually extend to second-tier cities. In recent years, with the increasing vacancy rate of shopping centers in first- and second-tier cities, the expansion of the industry has also begun to sink.

With the continuous improvement of brand power in low-tier cities and the advantages of low capital investment and fast replication of the asset-light model itself, Zhuhai Wanda Commercial Management has experienced a wave of expansion. According to the prospectus, by the end of 2022, Zhuhai Wanda Commercial Management managed a total of 472 commercial plazas, of which 288 were from the parent company and 184 were owned by independent third parties, accounting for nearly 40%. In contrast, in recent years, real estate companies that have also begun to develop an asset-light model have made slightly slower progress. For example, China Resources Vientiane Life, a subsidiary of China Resources Real Estate, has an operating income of only 4.20 billion yuan as of 2022, and the projects under management still mainly come from the parent company, accounting for 86%.

At the same time, Zhuhai Wanda Commercial Management’s operating performance is also quite eye-catching. According to the prospectus, Zhuhai Wanda Commercial Management will achieve revenue of 27.10 billion yuan in 2022, net profit will reach 7.50 billion yuan, and the return on net assets is quite high. Its net assets equivalent to 4% of the parent company’s net assets contributed 72% of the total profit of the parent company Dalian Wanda Commercial Management. Strong profitability has also made Zhuhai Wanda Commercial Management Wanda’s "cash cow". From 2019 to the first half of 2022, the cumulative cash dividend will be 13.273 billion yuan, the vast majority of which will flow to Wanda Commercial Management, which holds nearly 80% of the shares.

If you look at it alone, after layers of stripping, Zhuhai Wanda Commercial Management seems to have "crossed a thousand mountains in a light boat". However, when you zoom in to the entire Wanda system, things may not be so easy. It can be said that Zhuhai Wanda Commercial Management’s light asset operation is still moving forward with a heavy load.

When Zhuhai Wanda Commercial Management was established in 2021, it introduced a group of heavyweight investors up to 38 billion yuan in financing. As a bet, Zhuhai Wanda Commercial Management needs to be listed before the end of 2023. If it cannot be listed as scheduled, it will not only have to repay the entire investment of 38 billion yuan in cash, but also pay an additional 8% interest.

Now, after the failure of multiple submissions to the Hong Kong Stock Exchange, the end of the bet is approaching. At the same time, due to multiple factors, Wanda Film and other sectors continue to slump, and financing is limited, Wanda Group’s debt problem has become increasingly prominent.

On April 28, Dalian Wanda Commercial Management disclosed the 2022 corporate bond report on the Shanghai Stock Exchange. As of December 31, 2022, the company’s short-term borrowing balance was 5.046 billion yuan, an increase of 948.74% year-on-year; the non-current liabilities due within one year were 68.768 billion yuan, an increase of 304.12% year-on-year. In June, Wanda Commercial Management issued bonds with a quota of 6 billion yuan and was forced to terminate the issuance. The financing channels were significantly tightened, which was related to Zhuhai Wanda Commercial Management’s delay in listing.

It can be seen that for Wanda, the Zhuhai Wanda Business Management sprint IPO is largely an important attempt to revitalize the overall situation. But even putting aside the pressure of capital and other aspects and returning to the asset-light operation model itself, Zhuhai Wanda Business Management is also facing no small challenges.

Compared with the asset-heavy model, the asset-light model has two main advantages. First, it is no longer necessary to pay attention to land acquisition, construction, etc., but focuses on the operation of shopping malls. After the professional division of labor is clearer, it can give full play to its strengths, thereby improving business performance. Second, the traditional asset-heavy model itself has accumulated a large amount of funds, and its expansion speed is bound to be constrained by the scale of funds, while the asset-light model only exports brand and management, which greatly reduces the demand for funds, so it can achieve rapid expansion, and once the operation model is formed, it can be quickly replicated, and the scale effect is more prominent.

As mentioned above, Zhuhai Wanda Commercial Management has been able to expand significantly, largely due to the asset-light model itself. However, after a wave of rapid expansion, Zhuhai Wanda Commercial Management’s subsequent continued growth is also facing uncertainty.

In recent years, under the policy tone of reducing leverage and debt, there are not a few real estate enterprises that attach importance to the asset-light model, such as Country Garden, Longhu, Vanke Printing, China Resources Land, Joy City Holdings, and Baolong Real Estate. They have all accelerated the layout of asset-light projects. For example, Xincheng Holdings will have 31 Wuyue Plaza openings in 2023, and sinking cities will dominate.

At the same time, the oversupply of domestic commercial plazas has gradually become apparent. Data show that from 2017 to 2022, the number of commercial plazas with a rental rate of less than 70% in China increased from 7,800 to 10,948, and it is estimated that it will reach 13,182 by 2027. With the overall oversupply compounded by the influx of many leading real estate enterprises, the market competition in the commercial management track may become more intense.

In this competition landscape, although Wanda business management plans to open 51 in 2023, and focuses on the distribution of third-, fourth- and fifth-tier cities, with the rise of a number of unique emerging business entities, the increase in its acquisition may be more limited.

Moreover, under the predicament of debt pressure, there are frequent news of Wanda’s sale of projects in the market. After the "century sale" of 13 cultural tourism projects and 77 hotels packaged and sold in 2017, Wanda seems to be going to stage "selling, selling" again this year. Relevant actions include selling Wuhan Hanjie Wanda Plaza to SKP Group, transferring more than 80% of the equity of the partnership to China Huarong, reducing its holdings of Wanda Film 37.1877 million shares and cashing out 447 million yuan. In addition, there are rumors in the market that Wanda will sell more than 20 shopping malls in Jiangsu, Zhejiang and Shanghai.

The non-stop sale of assets has also attracted speculation that Wanda’s so-called "light assets" are actually "clearing assets", and some industry insiders believe that Wanda’s clearing assets may now affect the basic business of Zhuhai Wanda Commercial Management.

However, according to Wanda Group, the follow-up operation rights of the equity transfer projects are still retained by Wanda Commercial Management, which is not affected by the equity change, and most of the projects sold are heavy asset projects and are not under the umbrella of Zhuhai Wanda Commercial Management. From this point of view, there may be no need to worry too much.

In addition, in the medium and long term, the industry still has room to explore its business potential in the future. The main reason is that in the construction of a new development pattern, with the increasing fundamental role of consumption in economic development, shopping malls still have great development value as large-scale physical consumption platforms that can meet a variety of needs.

In terms of management scale, Zhuhai Wanda Commercial Management is already the world’s largest commercial square operating company, with a construction area of 65.60 million square meters in the management mall, exceeding the combined second to tenth place in China. From the perspective of the rental rate, an important indicator to measure the operation capacity of business management enterprises, Zhuhai Wanda Commercial Management’s leading position is also very consolidated. According to the prospectus, as of 2022, the average rental rate (excluding parking spaces) of Zhuhai Wanda Commercial Management reached 98.6%; over the same period, Xincheng was 95.13%, Longhu was 93.9%, and the printing power was 93.2%.

Based on this, if Wanda Commercial Management continues to strengthen its refined operations, establish a better ecosystem for its asset-light model operation, and meet the current stock demand to the greatest extent, such as its recent launch of the "Wanda Smart Business Platform", which provides integrated value-added services for merchants in the four scenarios of location selection, rental, store opening, and operation, it may be conducive to breaking through many constraints and promoting the potential of the asset-light model to a greater extent, thereby demonstrating greater investment value and taking this bumpy road to listing.

 

The second season of the costume drama "Celebration of More Than Years" has been successfully completed

On October 17, 2023, the second season of the much-anticipated costume drama "Celebration of More Than a Year" was successfully completed, which once again aroused the eager expectations of the audience. The drama was jointly produced by CCTV, Penguin Film and Television, Yuewen Film and Television, and Xinli TV. It brought together many powerful actors, including Zhang Ruoyun, Li Qin, Chen Daoming, Wu Gang, Guo Qilin, Tian Yu, Li Xiaoran, Song Yi, Xin Zhilei, Liu Duanduan, Fu Xinbo, etc., and Zhang Qinwei starred in a friendship, which can be called a luxurious lineup.

Adapted from the novel of the same name, the story mainly revolves around a mysterious teenager, Fan Xian, who has an unpredictable life background and has gone through various tests and tempering in the family, rivers and lakes, and temples, and finally wrote a legendary life story. The successful broadcast of the first season has laid a solid foundation for the second season, and the completion of the second season has further aroused the expectations and curiosity of the audience for the sequel.

It is reported that the second season of "Qingyu Nian" not only continued the excitement of the first season during the shooting process, but also paid more attention to the depth of the plot and the emotional expression of the characters. The tacit cooperation and superb performances of the actors on the set are also very much anticipated. At the same time, the production team of the play has also increased investment in scene arrangement, costume props and other aspects, striving to bring the audience into a more realistic and shocking historical picture scroll.

The role of Fan Xian played by Zhang Ruoyun in the play has won the love and recognition of the audience with his excellent acting skills and compatibility with the characters. The roles of Princess Miaoyin played by Li Qin and Fan Ningmei played by Chen Daoming have also been deeply rooted in the hearts of the people and become a highlight of the play.

The success of the second season of "Qingyu Nian" also means that the audience is about to usher in a new audio-visual feast. It is reported that the drama will premiere on Tencent Video in 2024, and I believe that it will cause another ratings frenzy at that time. And the audience’s speculation and expectations for the development of the plot and the fate of the characters will also become a hot topic during the future broadcast.

The completion of the second season of "Celebration of More Than a Year" has brought unlimited expectations and surprises to the audience. With the superb acting skills of the actors and the careful polishing of the production team, I believe that this epic costume drama will once again arouse the enthusiasm of the audience and become a major hot topic and ratings guarantee in 2024.