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In the Volvo XC90 new energy version with both design and practicality, the body size shows the perfect combination of luxury and power. Its length is 4953mm, width is 1958mm, height is 1772mm, and the wheelbase is 2984mm, providing passengers with a spacious interior space. The side lines are smooth and dynamic, showing elegant body proportions. The front wheel specification is 275/45 R20, and the rear wheel is also matched with 275/45 R20 tires, which not only ensures stable driving, but also complements the overall design of the rim style, adding a sense of style and technology to this new energy model.

The interior design of Volvo XC90 New Energy fully demonstrates the essence of Nordic luxury brands, with simplicity and practicality as the keynote. It adopts a delicate leather steering wheel, providing a comfortable feel and supporting manual up and down + front and rear adjustment, which is convenient for drivers to adjust according to their needs. The center is equipped with a 9-inch high definition touch screen, which integrates multimedia system, navigation and phone functions, which is convenient for users to operate and connect. In the car, USB and Type-C interfaces are available in the front and rear rows to ensure that passengers’ charging needs are met. At the same time, the front row is also equipped with wireless charging function of mobile phones, adding a sense of technology.

In terms of seats, the seat material combines comfort and durability, including fabric and leather options, and the seat cushion and backrest design support multi-directional adjustment, including front and rear, backrest, height, leg rest and lumbar support, providing passengers with an excellent ride experience. The driver and passenger seats also have heating, ventilation and massage functions, while the power seat memory function adds convenience and personalization. For second-row passengers, the seats also support front and rear adjustment and backrest adjustment to ensure comfort on long journeys. As for space utilization, the rear seats have a proportional reclining function, which can flexibly meet the needs of cargo and passengers.

To sum up, the Autohome owner’s evaluation of the Volvo XC90 new energy is quite satisfactory. He especially loves the simple and atmospheric design of the body, as well as the unique elements of Thor’s hammer and Viking axe. He believes that these details not only enhance the appearance and texture of the vehicle, but also match his personal aesthetic and life attitude. Although the design of the front of the car left a deep impression on him, he also said that the overall XC90 new energy makes him feel satisfied and proud. For those drivers who pursue quality and comfort, the Volvo XC90 new energy is undoubtedly a choice worth considering.

New Fortune, please support the team of BOC International Securities Auto Peng Yong and Machinery Yang Shaohui!

　　The company is the leading enterprise of construction machinery seats in China, and its products involve construction machinery, commercial vehicles, agricultural machinery, etc. Its market share in sub-sectors such as road rollers and bulldozers exceeds 50%, and its main customers include Caterpillar, Dongfeng Motor, Xugong and other well-known OEMs. The company actively expands the passenger car market. At present, it has opened up high-quality customers such as Zotye Auto and Zhidou, and won orders for two major models, Zotye B11 and B11B. In the future, the company is expected to harvest orders from other domestic passenger car companies, and passenger car seats will bring several times of growth to the company’s income. We expect the company’s fully diluted earnings per share in 2016-2018 to be 0.52 yuan, 0.98 yuan and 1.45 yuan respectively. Based on the performance in 2018, the company’s seat business was given a dynamic P/E ratio of 40 times, with a reasonable target price of 58.00 yuan, and a buy rating was given for the first time.

　　Key points supporting rating

　　nOpen up passenger car customers such as Zotye Auto and Zhidou, and enter the vast market of nearly 100 billion passenger car seats.according to2015Annual passenger car2115It is estimated that the market size of passenger car seats in China is up to.950100 million yuan, of which the annual sales volume of autonomous passenger cars exceedseight hundredTen thousand vehicles, seat market scale350100 million yuan. The passenger car seat market is mainly controlled by foreign capitals such as johnson controls, Lear, Faurecia, Toyota Textile and Magna or their domestic joint ventures. The localization of passenger car parts is the general trend, and the rise of independent brands needs the support of national parts enterprises. The company is the leader of construction machinery seats, with strong technical strength, actively deploying the passenger car seat market, and obtaining supporting orders for hot-selling models such as Zotye Automobile and Zhidou. In the next few years, passenger car seats are expected to promote the company’s revenue to increase several times.

　　Actively expand customers and upgrade products, the company’s traditional business is expected to resume growth.In 2015, the downstream construction machinery and commercial vehicle market was in a downturn, and the company’s profit was damaged. The company actively expanded customers, added a large number of product packages for Shaanxi Automobile Baohua and China Heavy Duty Truck commercial vehicles, and upgraded the existing products to expand the field of high-end seats, with a steady increase in gross profit margin. In the future, with the steady growth of the country and the gradual increase of infrastructure investment in post-flood construction, the recovery of the medium and heavy truck industry and the upgrading of the company’s product structure, the company’s traditional construction machinery and commercial vehicle seats are expected to resume growth.

　　Diversified expansion of seat business, to create a full range of seat leading enterprises.The company actively promoted the research and development of child safety seat project, and two products obtained 3C certification and entered the mass production stage. At the same time, we will actively expand new business areas such as airplane seats and high-speed rail seats, and gradually broaden domestic and foreign sales channels to achieve global sales and develop towards high value-added all-round seat suppliers.

　　Main risks faced by rating

　　1) The expansion of passenger car market is less than expected; 2) The development of downstream supporting construction machinery, commercial vehicles and agricultural machinery industries is less than expected.

　　assessment

　　After diluting according to the latest share capital, we expect the earnings per share of Tiancheng Auto Control in 2016-2018 to be 0.52 yuan, 0.98 yuan and 1.45 yuan respectively. Based on the performance in 2018, the company’s seat business is given a dynamic P/E ratio of 40 times, and the reasonable target price is 58.00 yuan, which is given for the first time.buy inRating.

　　Tiancheng automatic control—— Domestic construction machinery seat faucet

　　The company’s main business, major shareholders and subsidiaries

　　Zhejiang Tiancheng Automatic Control Co., Ltd. is mainly engaged in the research and development, production, sales and service of vehicle seats. The main products are construction machinery seats, commercial vehicle seats and agricultural machinery seats, which are oriented to the domestic and foreign host supporting markets and after-sales maintenance markets. The main customers include Caterpillar, Dongfeng, Xugong and other well-known host plants and the United States.CONCENTRIC, USATVH, NetherlandsEBLO Wait for the local dealer. The company is a leading enterprise of construction machinery seats in China, and participated in drafting the national standards for construction machinery seats, with a market share of more than 100% in sub-sectors such as road rollers and bulldozers.50%. The company actively expands the passenger car market, and has developed high-quality customers such as Zhidou and Zotye Automobile.

　　chart1. The company’s main products

　　

　　Source: Company website, Bank of China Securities.

　　Zhejiang Tiancheng Ketou Co., Ltd. (hereinafter referred to as“Tiancheng ketou") is the controlling shareholder of the company and owns the company.54%Chen Bangrui and Xu Xiaohe are husband and wife, and directly or indirectly hold Tiancheng Automation through Tiancheng Ketou and Tiantai Zhongcheng Investment Center.64.94%Shares, jointly control the company’s equity, as the actual controller of the company. Among them, Chen Bangrui is the chairman and general manager of the company.

　　chart2. Company equity structure

　　

　　Source: Company Announcement, Bank of China Securities.

　　The company’s existing wholly-owned subsidiaries.sevenHome, set up six sales regions nationwide, and set up an American subsidiary to be responsible for the host supporting and after-sales maintenance market in North America. The sales and service network is relatively perfect, so as to keep abreast of customer needs and strengthen communication with host manufacturers. The company has dozens of patents authorized, semi-active control vibration reduction technology, airbag suspension vibration reduction technology and independent mechanical vibration reduction technology are at the leading level in China, and intelligent memory electric seat technology has been shortlisted for the national torch plan, with outstanding research and development advantages, and its products are constantly upgrading to high-end, intelligent, safe and environmental protection.

　　chart3. Major subsidiaries

　　Source: Company Announcement, Bank of China Securities.

　　Positive layoutPassenger car seat market, raise funds to expand production capacity

　　Car seats have high value and broad market space.

　　Automobile seat is a seating facility that provides passengers with complete decoration and is integrated or separated with the vehicle. The seat assembly includes headrest, backrest, seat cushion, adjusting device and connectors. Among them, the adjusting device includes height adjustment, slideway, angle adjuster and seat cushion rake angle adjustment. Because car seat is based on ergonomics, it plays an important role in supporting, positioning and protecting, and its design directly affects the safety and comfort of riding, as well as the look and feel of the interior, which plays an important role in the overall safety technology of the main engine. Therefore, the main engine factory has high technical requirements for seats, and the core components need to achieve high manufacturing accuracy and high strength, which is difficult to manufacture.

　　chart4.The structure of automobile seat is becoming more and more complicated.

　　

　　Source: Aika Automobile, Bank of China Securities.

　　The automobile seat industry is roughly divided into three levels. The first-level supplier is the seat assembly supplier, which mainly purchases key parts and assembles them into seats and directly provides them to the automobile factory. Because of the large size of seats, it is inconvenient to transport, and its production base is generally located around the automobile factory. Second-tier suppliers are responsible for the production of key components such as slide rails, angle adjusters, lifters, etc. Because these components are small in size and convenient to transport, second-tier suppliers are generally not limited by regions, and can supply multiple first-tier suppliers at the same time. Third-tier suppliers are generally attached to second-tier suppliers, and are responsible for the processing of some parts or processes of second-tier suppliers, mainly OEM and outsourcing.

　　chart5.Industrial chain diagram of automobile seats in China

　　

　　Source: Qianjing. com, Bank of China Securities.

　　Generally, the shape of car seats should be optimized many times to provide sufficient support for all parts of the body. According to the resonance frequency and amplitude under dynamic conditions, the foam and suspension spring should be adjusted to make the body feel comfortable. Excellent seat wrapping and safety configuration, such as active headrest and seat belt early warning device, can provide greater safety protection for people in the car during normal driving and collision, and avoid violent shaking of the body. Comfort devices such as seat heating, ventilation, massage and electric adjustment have gradually become an important factor for consumers to consider when buying a car.

　　According to China Market Intelligence Center.CMICData, the average price of general car seats in850-1050About $,the mid-range car is in1400-1600About $,high-end even exceeds2000For many manual cars, the cost of seats accounts for the proportion of the cost of the whole car.5%It has become the most expensive automobile part except the engine.

　　chart6.companySC27Series airbag damping seat

　　

　　Source: Company official website, Bank of China Securities.

　　China’s automobile production and sales have hit record highs.2015Annual sales amount to2460It has become the world’s largest consumer of car seats, providing a broad market space for the car seat industry. There are nearly a thousand car seat manufacturers in China, among which Jiangsu, Zhejiang and Guangdong are the production centers of car seats in China. According to the data of Prospective Industry Research Institute,2009In, China’s car seat market sales (including parts suppliers) in250About 100 million yuan,2014Nianzai490About 100 million yuan, the compound annual growth rate exceeds14%, higher than the average growth rate of the whole vehicle.

　　chart7. 2009-2014Trend chart of automobile seat sales scale in China in.

　　

　　Source: Prospective Industry Research Institute, Bank of China Securities.

　　Competitors of commercial vehicles

　　The company’s main competitors for commercial vehicle seats are domestic and foreign seat manufacturers, including Grammer, Germany and the United States.CVG, Easterlinghausen, Germany, Hills, Dongfeng Lear Automobile Seat Co., Ltd., Jiangsu Yuhua Automobile Parts Co., Ltd. and Beijing Guanghua Rongchang Automobile Parts (Group) Co., Ltd.. In the domestic market, the company occupies a large share in the seat industry of construction machinery such as loaders, rollers, bulldozers and forklifts, and has successfully developed high-end excavator seat products. The company’s construction machinery seat products are matched with leading enterprises in Caterpillar, Longgong, Xugong, Xiamen, Liugong and Sany Heavy Industry. Compared with foreign companies, the company’s products not only meet the needs of the main engine factory in quality and performance, but also have the advantage of cost performance and strong regional service ability; Compared with state-owned enterprises, the product specifications are more complete and the performance is more stable.

　　chart8. The company’s main competitors in construction machinery and commercial vehicle seats.

　　Source: Company Announcement, Bank of China Securities.

　　Passenger car competitors

　　Stimulated by the small-displacement tax reduction policy,2016year1-6Monthly cumulative sales of passenger cars1104Ten thousand vehicles, a year-on-year increase.9.2%It is expected that the sales volume of passenger cars will maintain rapid growth throughout the year. After that, if there is no policy stimulus, the sales volume of passenger cars will maintain a low growth rate. It is expected that2020Annual passenger car sales will exceed2800Ten thousand vehicles. With domestic productionSUVWith the sudden emergence of other models, the market share of domestic brand passenger cars has gradually increased.2015The market share of domestic brand passenger cars has increased to41.3%. The quality of domestic brand passenger cars has been continuously improved.2020The annual market share is expected to increase to50%, sales will exceed1400The demand for corresponding car seats is also increasing rapidly.

　　chart9.Domestic passenger car sales continued to grow.

　　

　　Source: China Automobile Association, Bank of China Securities

　　chart10.Market share of domestic brand passenger cars2015Annual rapid increase

　　

　　Source: China Automobile Association, Bank of China Securities

　　Although China has the largest demand for car seats, the domestic car seat market is dominated by foreign brands. The passenger car seat market is mainly controlled by foreign capital or joint ventures established in China, such as johnson controls, Lear, Faurecia, Toyota Textile and Magna, and only Johnson’s company in the United States has been established in China.10A number of joint ventures in car seats and in-car products occupy nearly the national market.thirty percentShare. In addition to the above-mentioned enterprises, the world-renowned automobile seat supporting suppliers include Yanfeng automobile parts under Huayu Automobile, Tokyo seat in Japan, Hyundai Daimos in Korea, Sidco in Germany, Fuzhuo Automobile in Australia and Quanxing Industrial Group in Taiwan Province.

　　chart11.Products of major passenger car seat manufacturers in the world

　　

　　Source: Internet information, Bank of China Securities.

　　chart12.2015Main supporting suppliers of automobile seats in China in

　　Source: Internet information, Bank of China Securities.

　　Shanghai Volkswagen, Shanghai GM and FAW-Volkswagen, the major domestic vehicle manufacturers, are all joint ventures. Great Wall Motor80%All the seats are self-supplied, and the rest20%It is supplied by the joint venture company of Great Wall and Yanfeng Johnson. Most of BYD’s seats are produced and supplied by its Sixteenth Division, and some are supplied by Taiji.

　　Compared with the above-mentioned joint ventures or foreign-funded enterprises, domestic independent brands of automobiles, especially passenger car seats, are facing certain deficiencies in terms of company scale, brand influence, technical strength and production capacity. Due to the gap in technical level, in terms of market positioning, foreign car seat enterprises and their joint ventures mainly focus on the middle and high-end market, while domestic car seat manufacturers mainly focus on the low-end market, and the market price is about high-end products.1/3.

　　chart13. Major global supplier of passenger car seats

　　Source: Company website finishing, Bank of China Securities.

　　chart14.Major supplier of passenger car seats in China.

　　Source: Company website finishing, Bank of China Securities.

　　Signing a big order for two models of Zotye Auto, and actively expanding the passenger car seat market.

　　Affected by the sluggish sales of commercial vehicles in recent years, the company is gradually transforming into a passenger car seat supplier. During the long-term operation, the company has accumulated rich industry experience in vehicle seats.2015In 2006, we began to supply new ocean zhidou and sell passenger car seat products.13475Seats, realize income.612.6Ten thousand yuan.

　　2016yearthreemoon29On, the company signed the Supply Contract with Zotye Automobile (2016Years), the company mass-produced for Zotye Automobile.B11Model (i.e. Zotye)T600) Provide passenger car seats and meet the quantity (including spare parts) required by Zotye Automobile after-sales service. According to the data of the Federation, ZotyeT600 2015Annual sales volume is126121Car, monthly sales of over ten thousand, in the medium-sized.SUVSales are in the forefront. The passenger car seat provided by the company is the whole car chair.——Including front seat and rear seat assembly, the value will be greatly improved compared with commercial vehicles.

　　chart15.Number of seats used by the unit host

　　Source: Company Announcement, Bank of China Securities.

　　chart16.Analysis Table of Company’s Product Categories

　　Source: Company Announcement, Bank of China Securities.

　　2016yearfivemoon13On, the company and Zotye Automobile signed the Agreement on the Development of Supporting Parts. According to the agreement, the company accepted the entrustment of Zotye Automobile.B11BModel (i.e. Zotye)T700) seat development, the company participated in the synchronous development of new products for customers of passenger car OEM. This model is positioned medium and large.SUV, the five-seat model will be ontwelveTake the lead in listing in June,2017Four-seat and seven-seat models were launched during the year. Power will be equipped.1.8Tand2.0TTwo kinds of engines, among which2.0TThe engine comes from SAIC, and adopts direct injection technology of fuel in cylinder, with maximum output power.220Horse power (162kW), peak torque350cattle·Rice. This model is expected to replicate Zotye.T600The successful experience will be transformed into an explosive model.

　　The company has successively harvested the supporting orders of two major models of Zotye Automobile, and participated in the simultaneous development. The technical strength has been gradually recognized, and the company will gradually improve the supporting penetration rate in its own models by taking advantage of the domestic cost performance.

　　chart17. zhongtaiT600

　　

　　Source: Aika Automobile, Bank of China Securities.

　　chart18. zhongtaiT700Concept edition

　　

　　Source: Aika Automobile, Bank of China Securities.

　　According to the data of China Automobile Association,2015The output of new energy vehicles in China reached34.0Ten thousand vehicles, a year-on-year increase.3.3Times. In recent years, driven by positive factors such as purchase subsidies, operating subsidies and license support, new energy vehicles are expected to continue to grow at a high speed.2020The annual sales volume is expected to reach150-200Ten thousand vehicles. Different from fuel passenger cars with joint venture brands, the new energy vehicle market in China is still in the initial stage of development and dominated by domestic brands. The supply system of seats and other auto parts of new energy vehicle manufacturers is not yet fully mature. The company actively enters the passenger car seat market through the opportunity of establishing a new energy vehicle supplier system, which has great development space and market capacity.

　　By cooperating with Zhidou and Zotye Automobile as an opportunity, the company vigorously expands the production of passenger car seats, especially new energy passenger car seats, which can expand new product application fields and profit growth points, expand the company’s business coverage, reduce the impact of market changes in downstream individual fields on the company’s overall performance, further improve the product gross profit margin level and the company’s profitability, ensure the superior competitive position in the field of vehicle seat supply, and enhance the domestic technical level and international competitiveness of passenger car seats.

　　chart19. The sales of new energy vehicles are developing rapidly.

　　

　　Source: China Automobile Association, Bank of China Securities

　　Fundraising projects ease the pressure on production capacity and fully enter the passenger car seat market.

　　2016yearsevenmoon13On, the company’s application for non-public offering of shares was examined and approved by the China Securities Regulatory Commission. The reserve price of the issue is adjusted to27.69Yuan per share, no more than issued shares.1,83110,000 shares, raising no more than5.1100 million yuan. The project will be invested4.3We will build an intelligent production base for passenger car seats. After the project is completed, the project will reach an annual production capacity.30Ten thousand sets of finished seats (including60Ten thousand sets of core parts) and140Ten thousand sets of single-selling core parts. The construction period of the project is24Last month. After the completion of the project, the first year’s production capacity is80%In the second year, the production capacity is100%During the operation period of the project, the average annual operating income reached.9.9100 million yuan.

　　After the fundraising project is completed, it will help the company to expand the field of passenger car seats and promote the optimization and upgrading of product structure. Chen Bangrui promised to subscribe in cash at the same subscription price as other subscribers, and the subscription ratio is in the total number of shares actually issued this time.10%- 30%Suddenly, the subscription of the actual controller shows strong confidence in the company’s development.

　　chart20.Investment of raised funds

　　Source: China Automobile Association, Bank of China Securities

　　traditionThe seat business has developed steadily and the products have been upgraded to high-end.

　　Affected by the downturn in the downstream construction machinery and commercial vehicle industries, the operating income of the company’s construction machinery seats and commercial vehicle seats declined.2015In, the company realized operating income of2.9100 million yuan, down from the same period last year5.6%. Benefiting from the decline in the cost of steel and other materials and the depreciation of the exchange rate, the overall gross profit margin of the company increased over the same period of last year.one point sixPercentage points, net profit attributable to shareholders of the parent company.3341Ten thousand yuan, a year-on-year increase.3.6%.

　　From the perspective of product categories, the company’s three series of products, construction machinery seats, commercial vehicle seats and agricultural machinery seats, together account for more than the main business income.90%, the main business is outstanding.2015Due to the decrease in the cost of steel and other materials and the depreciation of the exchange rate in, the gross profit margin of construction machinery seats and agricultural machinery seats increased compared with the same period, and the gross profit margin of commercial vehicle seats decreased compared with the same period due to the slight price reduction of some products developed by the company. The overall gross profit margin was31.4%, keep stable. The company strives to expand into the field of passenger car seats.2015In 2006, we began to supply new ocean zhidou and sell passenger car seat products.13475Seats, realize income.613Ten thousand yuan.

　　chart21.Commercial vehicle sales in China have been sluggish in recent years.

　　

　　Source: China Automobile Association, Bank of China Securities

　　chart22. Operating income and growth rate

　　

　　Source: wind information, Bank of China Securities.

　　chart23. Net profit and growth rate of parent company

　　

　　Source: wind information, Bank of China Securities.

　　The company actively explores overseas markets. In the domestic market, it mainly sells construction machinery seats and commercial vehicle seats, while in the foreign market, it mainly sells after-sales maintenance of construction machinery seats and agricultural machinery seats, accounting for about 40% of its operating income in recent years. Foreign market companies mainly sell through local distributors in various countries, and the regions are mainly concentrated in North America and Europe.2015In, due to the downturn of domestic construction machinery and commercial vehicle industry, domestic sales revenue decreased year-on-year.7.1%. Although foreign sales revenue decreased year-on-year.2.7%However, the gross profit margin of products has increased.5.9%The main reason is the increase in the export proportion of the company’s high-end seat products and the depreciation of the exchange rate.

　　chart24. Operating income by product composition

　　

　　Source: wind information, Bank of China Securities.

　　chart25. Operating income is divided into regions.

　　

　　Source: wind information, Bank of China Securities.

　　Layout of children’s seats, diversified expansionSeat business

　　Child safety seat is also called child restraint system CRS.(Child RestraintSystem) is a device specially designed for children of different ages (or weights) to ride safely. It is a seat that is tied to the car seat for children to ride and has binding equipment, and can bind children to ensure the safety of children to the maximum extent when there is a car accident.

　　At present, there are50 Many countries have legislated and enforced the use of child safety seats. The utilization rate of child safety seats in some developed countries is as high as.90%, and began to spread to the whole world from the extensive use of European and American countries. According to Booz data, the global child safety seat market will maintain steady growth in the next few years.2020In, the global child safety seat market will reach.56.4Billion dollars.

　　China’s child safety seat market is in the initial development stage, and consumers’ awareness of it is low.2012The release and implementation of "restraint system for children in motor vehicles" in provided legal standards and industry guidelines for children’s safety seats, and the popularity of children’s safety seats showed a rapid upward trend. According to the "Blue Book of Road Traffic Safety for Children in China", the research team was working on it.2015 In Beijing, Qingdao, Changsha, etc.eight The average utilization rate of child safety seats in the survey samples of 20 cities is33.3%. and2013 Less than years old15%The average utilization rate has doubled, but it is far from developed countries.90%There is still a big gap in the utilization rate of.

　　chart26.2011~2015 Output of child safety seats in China in.

　　

　　Source: China Industrial Information Network, Bank of China Securities.

　　At present, China has reached3C Certified child safety seat manufacturers are300 Many families. China’s child safety seat market is mainly occupied by well-known brands in China, Britain and Germany, among which China brand occupies.40%About the market share. However, many enterprises are transformed from baby products manufacturers, and the design and manufacturing threshold is very low. The child safety seat is an automobile safety product, which requires high safety.

　　chart27.2015 year1-12 The situation of the top five brands in the domestic child safety seat market in June.

　　Source: China Industrial Information Network, Bank of China Securities.

　　In the future, with the introduction of child safety seat legislation and related safety standards, the national second child policy will be completely liberalized, family safety awareness will be gradually improved, and the penetration rate of child safety seats will be greatly improved. If the child safety seat is forced to use into traffic regulations, the annual sales of passenger cars will now exceed.2000Ten thousand vehicles, if the child safety seat assembly rate reachesthirty percentIt is estimated that the child safety seat market is expected to reach every year.600Ten thousand sets, the market has huge room for future development.

　　chart28.Some local traffic rules on compulsory use of child safety seats

　　Source: Internet information, Bank of China Securities.

　　The company actively promotes the research and development of child safety seats, and two child safety seats independently developed by the company.JEC610 Car child safety seat (applicablenineA month—12Years old children),JEC210 Car child safety seat (applicable0—4Years old children) in2016yearfourmoon19Received two national compulsory product certification certificates of China from China Automobile Certification Center (i.e.3CCertification certificate), and received four trademark registration certificates and one Madrid trademark international registration certificate issued by the Trademark Office of the State Administration for Industry and Commerce. These two seat projects have completed the tooling sample and design verification, and entered the mass production stage.

　　Children’s safety seat is an automobile safety product, which requires high safety. The company has many years of experience in car seat production and research, strong technical strength and quality can be guaranteed. Because of its consumption nature, the company plans to mainly adopt e-commerce such as Tmall flagship store, and the main engine plant of passenger cars and automobiles.4SStore cooperative sales and other sales models.2015In, the company’s child safety seat was still in the research and development stage, and the sales revenue was not realized. At the same time, the company also actively expands new business areas such as airplane seats and high-speed rail seats, and gradually broadens domestic and foreign sales channels to realize global sales and develop towards high value-added seat suppliers.

　　Profit forecast and investment suggestion

　　Construction machinery seat

　　The company occupies a large share in the seat industry of construction machinery such as loaders, road rollers, bulldozers and forklifts, and its production and sales are greatly influenced by fixed assets investment factors such as infrastructure construction and housing construction. At this stage, the downward pressure on the domestic economy is great, and some areas have been seriously affected by the flood this year. It is expected that the government will increase investment in infrastructure construction, which will drive the demand for construction machinery seats of the company to pick up. The gross profit margin is expected to benefit from the decline in the cost of steel and other materials and the further improvement of high-end products. It is expected that2016-2018The annual income of construction machinery seats is respectively1.34Billion,1.41Yihe1.48Billion and gross profit are respectively0.49Billion,0.52Yihe0.54Billion.

　　Commercial vehicle seat

　　The company’s commercial vehicle seat series mainly includes heavy truck seats and bus seats.2016Heavy trucks ushered in recovery in, according to the data of China Automobile Association,2016Cumulative sales of heavy trucks in the first half of the year34.0Ten thousand vehicles, a year-on-year increase.15.2%The sales of large buses and medium buses also increased year on year.4.1%、23.2%It is expected that with the overall recovery of the industry, the company’s business will also pick up. In terms of new customers,2015In 2006, the company added a large number of products to Shaanxi Automobile Baohua and Heavy Duty Truck commercial vehicles, and the products gradually became high-end. The gross profit margin is expected to pick up with the success of market development. estimate2016-2018In, the company’s commercial vehicle seat income was respectively1.06Billion,1.10Yihe1.15Billion and gross profit are respectively0.32Billion,0.34Yihe0.35Billion.

　　Agricultural machinery seat

　　The company’s agricultural machinery seats are mainly aimed at foreign markets, mainly in the after-sales maintenance market. Compared with the host supporting market, the after-sales maintenance market is aimed at the stock market, which has certain rigid demand and less fluctuation. estimate2016-2018In, the company’s agricultural machinery seat income was respectively0.42Billion,0.42Yihe0.43Billion and gross profit are respectively0.13Billion,0.13Yihe0.13Billion.

　　Passenger car seat

　　The company actively expands the passenger car market, and has developed high-quality customers of Zhidou and Zotye Automobile. company2015In 2008, we started to supply zhidou, and the sales volume is expected to further increase. The agreement signed between the company and Zotye Automobile is as followsB11Model matching seat, expected2016Started to contribute income in the third quarter of 2008.B11The monthly sales volume of models exceeds 10,000, and it is expected to be supplied this year.fourTen thousand sets are expected to be supplied next year.10More than ten thousand sets. The company and Zotye Automobile developed simultaneously.B11BThe model will be in2016yeartwelveIt is expected to become an explosive model next year, which will bring explosive growth in the company’s supply. It is expected that the company will supply it next year.fiveTen thousand sets. The company is expected to get supporting orders from other passenger car brands by taking advantage of domestic cost performance.2018One or two new models can be added every year, and the supporting permeability will be gradually improved. estimate2016-2018In, the company’s passenger car seat income was respectively1.29Billion,4.65Yihe8.00Billion and gross profit are respectively0.41Billion,1.58Yihe2.80Billion.

　　Profit forecast and investment suggestion

　　After diluting according to the latest share capital, we expect Tiancheng Automation.2016-2018Annual earnings per share are as follows0.52Yuan,0.98Yuanhe1.45Yuan. with2018Based on the annual performance, give the company seat business.40Times the dynamic P/E ratio, and the reasonable target price is58.00Yuan, given for the first timebuy inRating.

　　Risk warning

　　one) The expansion of passenger car market is less than expected;

　　2) The development of downstream supporting construction machinery, commercial vehicles and agricultural machinery industries is less than expected.

　　In order to help children learn, Mr. Zhang bought a BBK tutor for his 8-year-old daughter last year. Not long ago, he found that an APP called "Little Belly" in the tutor machine actually contained "adult content" that was not suitable for children to watch. In this regard, the customer service of BBK Education Electronics Co., Ltd. responded that the "Little Belly" APP is a third-party software, and the software has been removed. The staff of "Little Belly" APP said that similar problems may be caused by negligence in review, and technicians will be organized to deal with them as soon as possible.

　　event

　　The APP content in the tutor is related to pornography

　　Last year, Mr. Zhang bought an S5 BBK tutor for his 8-year-old daughter. Mr. Zhang said that BBK was chosen because the tutor can only download the software from its own app store, which is "safer".

　　But what Mr. Zhang didn’t expect was that not long ago, he came across an APP called "Little Belly" on his child’s tutor. After browsing for a few minutes, he found that some contents in "Little Belly" were not suitable for children to watch, not only relatively exposed pictures, but even sex cartoons.

　　It is understood that the "Little Belly" APP is actually a dating community forum where users can post. Mr. Zhang said that he also found that his daughter had chatted with others on the platform and posted words like "Love me or not", which he thought was beyond an 8-year-old girl’s understanding of feelings.

　　Mr. Zhang said that her daughter entered the "Little Belly" APP by logging in to the "Little Belly Calculator" APP. Below the "Little Belly Calculator" APP, there is a promotion of "Little Belly" APP. After clicking it, you can log in to "Little Belly" directly.

　　"It’s impossible to prevent, how can such a small child look at this thing?" Mr. Zhang is very angry about this.

　　Beijing Youth Daily reporter noticed that the APP store of Android system showed that the download volume of "Little Belly" app was 6.573 million, which was classified as social chat software, and its slogan was "super fun post-00 nest". Judging from the content posted in the community, the users of the software are mostly students, with more junior high school students. When the reporter browsed the website, he also found content that was not suitable for minors to watch, and the scale was comparable to that of "yellow website".

　　respond

　　BBK: The related APP has been removed.

　　In this regard, the reporter of Beiqing Daily called BBK Education Electronics Co., Ltd., and the customer service of the company said that the software "Little Belly" APP was not found in the background of the tutor. It said that the "Little Belly" APP was not developed by BBK, but a third-party software. The BBK family education machine could not install software other than the programs it contained. If the "Little Belly" software was found in the family education machine, it should have been downloaded before, but now BBK has removed the software.

　　Then, can you enter the "little belly" through the "little belly calculator"? In this regard, the customer service staff found that there is indeed a "little belly calculator" software in the APPlication store of BBK family education machine, which indicated that it would inform the technical department to check the software as soon as possible, and if the content is true, it would be removed from the "little belly calculator" app as soon as possible.

　　progress

　　Developer: Strive to make the community clean and clear.

　　The reporter of Beiqing Daily called Beijing Jiushijia Technology Co., Ltd., the developer of the "Little Belly" APP, and complained to the staff about the pornographic content in the APP. The staff said that the "Little Belly" APP has personnel who are specially responsible for the review. Similar problems may be negligence in review, and they will immediately organize technicians to check it and deal with it as soon as possible.

　　Yesterday, the reporter received a reply from the company, saying that the pictures of related issues had been removed and promised to "strive to make the community cleaner and clearer".

　　"We attach great importance to the positive guidance of users, and we also have a very strict review mechanism, prompt mechanism and reporting mechanism for the platform UGC content." The company said, "Limited by the current technical and artificial conditions, sometimes there are some fish that slip through the net, mainly because the algorithm of machine recognition is not the most perfect at the current level of the industry and needs to be continuously improved. Because of the large amount of content every day, we are also a small entrepreneurial team. These problematic pictures are one in ten million in the community, and it takes time for manual review and processing, which leads to this problem. "

　　Text/reporter Zhang Ziyuan

1905 movie network news　When filmmakers Yao Chen, Jing Tian, Jason Wu, etc. rushed around the country from the National Day to the National Poverty Alleviation Day for inspection, "the battle against poverty — — The Xinjiang Station of Starlight Action was officially launched on October 27th. Filmmaker Tong Liya and the "Starlight Action" project team came to Yutian County, Hotan District, Xinjiang Uygur Autonomous Region for investigation.

Overnight in primitive ancient villages

Go home with a sense of mission.

Yutian County is located in southern Xinjiang, with the Taklimakan Desert in the north and Kunlun Mountain in the south. The traffic in this area is inconvenient, but an acre of dense desert roses has grown, which has become a "flower of hope" to lead the region out of poverty.

Yutian county was once one of the 36 countries in the western regions in ancient times, and it was also an important town in the south of the Silk Road. At present, among the 250,000 people in the county, there are 32,493 poor households, and the total number of poor people is 120,000, which is a deep poverty-stricken county.

26, Tong Liya came to Hotan area. Growing up in Xinjiang, she came to southern Xinjiang for the first time in more than 30 years. Knowing the customs of ethnic minorities, she specially brought a lot of gifts in Urumqi, ready to give them to local villagers. That evening, Tong Liya and his team came to Daliyabuyi village near the desert.

On the way to Daliyabuyi village, Tong Liya, a Xinjiang child who has never been to southern Xinjiang, was particularly excited. She said that she especially hopes to communicate with local villagers, and she also hopes to feel their living standards and understand their needs at night in their homes.

Daliyabuyi village is an oasis called "Taklimakan navel". It takes a long time to drive from Hotan, and the last section of the road is directly through the desert without roads.

In this village with full ethnic customs, villagers lit bonfires to welcome Tong Liya. That night, she stayed at the home of a fellow villager. There was a 7-year-old girl named Dalia in this family.

Seeing Dahlia, Tong Liya took out a small schoolbag she brought as a gift. Dahlia took it and held it tightly in her arms. When getting ready for bed at night, Tong Liya asked her, would you like to sleep with me? Dalia, the "little landlord", nodded and then got into her mother’s quilt.

In the morning, with little Dahlia, Tong Liya came to the desert to watch the sunrise. They walked through a small meadow and went to a small sand dune to watch the sunrise. The sun reflected their faces, and Tong Liya raised her mobile phone and took a photo with Dahlia, which made this desert look particularly gentle.

When she left the village, little Dahlia, who had become good friends with Tong Liya, seemed reluctant to part. When getting on the bus, Tong Liya asked her, "I’m leaving. Will you give me up?" Dalia said, "I don’t want to." At a young age, she is completely relying on emotional instinct to answer Tong Liya’s words. Tong Liya asked her again, "Would you like to come to Beijing with me?" When he heard the willing answer, Tong Liya smiled and looked a little nostalgic.

She posted this experience on the Weibo and wrote: "We all like the sunrise in the wilderness of our hometown. I returned to my hometown this time. In addition to my familiarity, I also have a sense of mission on my shoulders. I hope I can contribute to the work of poverty alleviation in this land. I hope that every child in this sunshine can grow up healthily and happily! "

Along the way, Tong Liya lamented that he had come to southern Xinjiang for the first time for so many years: "As a Xinjiang native, I have never been to southern Xinjiang for more than 30 years. I hope I can do more. More interaction and more understanding. " Talking about her experience of staying in the desert overnight, she talked about an old man she met: "An old man got into our car, grabbed my hand and began to cry. I’m really glad you came here. You must visit my new house. This is their current life, the change from the original village to here. "

These relocation resettlement houses are practical things that the local government has done for Daliyabuyi village. Before seeing the house, Tong Liya was also worried that the relocation would make the villagers unwilling to leave the village where their ancestors lived. When she saw a new house with a clean kitchen and hot water, she felt: "What the government is doing now really benefits the people."

Visit ten thousand mu rose field

Enter the farmer to experience the craft and dance Xinjiang dance together.

On the afternoon of 27th, Tong Liya and his party drove to the rose planting base on the edge of the desert. As one of the main local cash crops, roses not only bring considerable economic benefits to Yutian County, but also are effective vegetation for sand prevention and fixation, bringing good ecological benefits to the local area.

The average income of roses planted in Yutian county is about 4000 yuan per mu, and the high quality can reach 10000 yuan. During the inspection, the local government introduced to Tong Liya that 5 mu of land has been specially allocated to each poor household to grow roses. This rose field is also a response to the call for precise poverty alleviation. In six years, it has changed from a desert to a flower field.

After the inspection of Rose Base, Tong Liya and his team came to a local family in Yutian County. Before I entered the yard, I could hear the sound of national music. In the yard, fellow villagers showed Tong Liya the process of drying roses and their own hand-made rose sauce. Along with the music, Tong Liya, the daughter of Xinjiang, also danced a national dance with the local girls.

Praise Xinjiang’s infrastructure is improving day by day.

Call for active ecological protection of ancient villages

In the courtyard, Tong Liya, deputy secretary of the county party committee in Yutian County, Hetian District, Xinjiang Uygur Autonomous Region, and county magistrate Ai Reti Yunus, secretary of the Party Committee of the Bureau of Culture, Broadcasting and Television Wang Shuhua, research specialist Zhou Yan of Starlight Action and Li Haiming, head of the leading rose industry enterprise in Yutian County, sat on the bed of Uygur people and shared their feelings of poverty alleviation.

Talking about Daliyabuyi village, which stayed overnight the night before, Tong Liya learned that the villagers had been resettled in resettlement houses 92 kilometers away, and the original village was included in the key development projects of the National Tourism Administration. What Tong Liya cares about is whether the ecological protection will keep up after it becomes a tourist attraction.

"All the sand is particularly clean, and the naan buried in the sand can be eaten directly. I’m afraid that after a large number of tourists go in, there will be a lot of mineral water bottles and plastic bags. What about ecology? How do you solve this thing? " Talking about his own experience, Tong Liya asked.

According to the relevant staff of the local government, people stationed in the reserve will be educated on environmental protection, and tourists will be informed of ecological garbage and prohibited regulations that affect environmental protection. "We should appeal to everyone to abide by it and not to destroy our environment." Tong Liya also said that as a public figure, he would definitely appeal to everyone to pay attention to the environment.

During this visit to southern Xinjiang, Tong Liya not only felt that the infrastructure was getting better and better, but also found that compatriots of all ethnic groups in Xinjiang spoke Chinese better and better, and the communication was very smooth: "When I lived in Xinjiang more than ten years ago, the popularity of Chinese was very low. But I saw yesterday that no matter how big or small, I can speak Chinese, which is very powerful. " Before leaving, she wanted to hire an interpreter, and she had no worries at all.

Zhou Yan, a colleague, said that the problem of tourism resources in Yutian County now is that tourism information can’t go out, which is also the bottleneck of many poor counties. He mentioned that it is now very fast to see the progress of the work, and it took almost one year to complete the work for 10 years.

Tong Liya recalled his visit to Yutian County, and felt that local cadres were the main force in poverty alleviation: "There are many cadres who are also contributing to poverty alleviation. They are also the main poverty alleviation force in Xinjiang. " Recalling her conversation with Dalia, the "small landlord" who stayed in Daliyabuyi village overnight, Tong Liya talked about herself and asked her, "What is your dream?" The answer is that the little girl wants to be a teacher.

Through the fight against poverty — — "Starlight Action" visited and inspected Yutian County in Hotan area, and Tong Liya exerted the influence of filmmakers, which made the local characteristic agricultural products exposed to a greater extent, and also made the tourism information of southern Xinjiang transmitted to more places from the northwest of the motherland. Growing up in Xinjiang, she returned to Xinjiang and got in close contact with the local people. The roses blooming in the desert will eventually become the local rich flowers, which are particularly charming.

　"Fighting poverty — — The whole activity of "Starlight Action" was broadcast exclusively by JD.COM, and supported by e-commerce platform for poverty alleviation. The whole event was sponsored by Huawei bracelet B5.

　　Zhongxin. com, December 17 (Zhongxin Finance reporter Xie Yiguan) Recently, the low price of vegetables has caused widespread concern.

　　"I bought 50 pounds of radish to pickle dried radish, and it only cost 10 yuan." "I haven’t seen 0.19 yuan a catty of cabbage for many years. It’s really ‘ Cabbage price ’ 。”

　　Many residents lament that the price of vegetables is so cheap this winter, and people can’t help wondering why vegetables can’t be sold at a higher price.

　　The price of Chinese cabbage hit a new low in the same period in recent years

　　Shandong is one of the main vegetable producing areas in China. Mr. Wang, who lives in Jiaozhou, Shandong Province and often goes to the supermarket, told Zhongxin Financial reporter that vegetables are much cheaper this year than last year. "For example, recently, Chinese cabbage costs 30 cents a catty, white radish costs 80 cents a catty, and green radish costs 50 cents a catty, and the prices are relatively low."

　　It’s slightly more expensive than what Mr. Wang bought. Recently, Sino-Singapore financial reporters visited several supermarkets and vegetable markets in Beijing. The price per catty of Chinese cabbage ranged from 50 cents to 1 yuan, and the price of white radish was mostly from 1 yuan to 1.5 yuan.

　　"How can there be such a cheap price in previous years?" In a supermarket in Xicheng District, a resident who is choosing vegetables said, "Last year, Chinese cabbage was above 1 yuan per catty."

　　It coincided with the morning shopping peak, and the reporter noticed that there were few Chinese cabbages left in the supermarket.

　　The falling price of vegetables is also reflected in the statistics released by the Ministry of Agriculture and Rural Affairs.

　　In November, the average wholesale price of vegetables was 3.58 yuan/kg, down 5.1% month-on-month and 3.9% year-on-year. Among the 19 vegetables monitored, the prices of spinach, Chinese cabbage, celery, Chinese cabbage and white radish dropped significantly from the previous month, with the ranges of 26.6%, 26.4%, 18.5%, 16.2% and 12.4% respectively.

　　Beijing Xinfadi Market is a "food basket" for the citizens of the capital. For the "cabbage price" reflected by many people, Liu Tong, a market analyst at Xinfadi, also told the China-Singapore financial reporter that "the price of Chinese cabbage in the market recently is the lowest point in the same period in the past five years."

　　Why did the price of vegetables fall into the "trough" this winter?

　　In the face of lower vegetable prices, some people ridiculed, "I bought a bunch of vegetables and spent a few dollars. I can’t spend it with a monthly income of 3,000." Why is the price of vegetables obviously low this winter?

　　"Simply put, there is more vegetable production." Li Guoxiang, a researcher at the Institute of Rural Development of China Academy of Social Sciences, explained to the reporter of Zhongxin Finance and Economics, "The weather in the early stage was warmer, which was conducive to vegetable growth. In addition, the price of vegetables was higher in previous years, and vegetable farmers expanded their crops, resulting in a larger planting area, which made vegetables relatively surplus this winter."

　　Zhang Jing, chief vegetable analyst of the agricultural products market analysis and early warning team of the Ministry of Agriculture and Rural Affairs, also mentioned that this autumn, the overall climatic conditions were suitable for vegetable growth, and the yield of vegetables increased greatly, especially Chinese cabbage, with an increase of about 20%.

　　The increase in output coincides with the centralized listing of winter storage vegetables such as Chinese cabbage, radish and carrot. According to official information, the monthly output in November accounts for about 15% of the annual output of these varieties & mdash; 20%。

　　In recent years, with the improvement of vegetable supply in winter and spring in the north, residents’ habit of storing vegetables in winter has changed, from purchasing vegetables in large quantities in the past to buying them as they eat, and the short-term centralized procurement all the year round has been greatly reduced, resulting in oversupply in the market, which in turn led to a decline in prices.

　　However, recently affected by the cold wave, North China, Huanghuai and other places ushered in the first large-scale snowfall this winter.

　　"As the weather turns cold and transportation costs rise, the prices of seasonal vegetables such as Chinese cabbage are expected to stop falling, and the prices of green leafy vegetables will also rise." Li Guoxiang said.

　　According to Liu Tong, in the past few days, due to the weather, the price of Chinese cabbage has been on the rise, and other vegetables have begun to recover. "But due to the stock, it is expected that the increase will not be too much."

　　The land price of some vegetables has fallen below the cost.

　　Faced with a few cents a catty of cabbage, radish and green onions, some people are concerned, "How cheap will the vegetable prices in the field be, and can vegetable farmers still make money?"

　　The reporter noted that compared with the retail price of the market, the drop in the field price of vegetables was more obvious.

　　According to the November data released by the Planting Management Department of the Ministry of Agriculture and Rural Affairs, according to the fixed-point monitoring of vegetable field prices, the average field price of 28 kinds of vegetables in November was 2.43 yuan/kg, down 8.3% from the previous month.

　　"In November this year, the land price of vegetables was 17.8% lower than that of the same period in the past five years, which was the second lowest in the past five years. The prices of some vegetable varieties are at the lowest level in five years. The average monthly land prices of three kinds of vegetables, such as cabbage, towel gourd and green onion, are the lowest in the same period of last five years, and 11 kinds of vegetables, such as celery, tomato, pumpkin, carrot, Chinese cabbage, zucchini, lotus root and spinach, are the lowest in the same period of last three years. "

　　The price of some varieties has even fallen below the cost. "The average monthly land price of cabbage, Chinese cabbage, green onion, wax gourd, pumpkin and carrot is 0.5— 0.9 yuan/kg, more than 35% lower than normal. According to the China Vegetable Association, the field price of Chinese cabbage in yutian county, Hebei Province was about 0.10 yuan/kg in early November, which was only equivalent to the labor cost of harvesting, and some farmers directly abandoned the harvest. "

　　Recently, Mr. Yue, a village cadre in Yucheng County, Anyang, Henan Province, just helped the vegetable farmers in the village to sell 30 mu of eggplant and nearly 10 mu of cabbage.

　　He told reporters, "A few days ago, the eggplant in the vegetable farmer’s cold shed was 6 cents a catty, and the cabbage was 20 cents a catty. Because the price couldn’t be sold, the vegetable farmers in the village didn’t want to lose money, so they dumped the goods for sale, which led to unsalable vegetables. Later, they sold the vegetables through extensive publicity. "

　　As far as he knows, villagers in some places can only choose to sell vegetables in the fields at a loss in order to grow crops.

　　To ensure the income of vegetable farmers, relevant departments began to take action.

　　"Expensive vegetables hurt people, cheap vegetables hurt farmers", and the price of vegetables falls below the cost line, which will not only cause losses to vegetable farmers, but also dampen their enthusiasm for planting, which is not conducive to the stability of vegetable prices in the later period. Faced with problems such as slow sales and difficulty in selling vegetables, relevant departments have begun to take action.

　　On the 12th, the Ministry of Agriculture and Rural Affairs deployed the current vegetable production and marketing work, demanding to improve the linkage working mechanism between provinces and departments, and build docking platforms such as information, products and bases to improve the pertinence, accuracy and effectiveness of production and marketing docking. For vegetable varieties that may be unsalable and difficult to sell, strengthen the docking service of production and marketing, and strive to ensure the income of vegetable farmers.

　　Henan is a major vegetable-growing province in China. According to media reports, in order to effectively reduce the losses and safeguard the interests of vegetable farmers, the Agriculture and Rural Affairs Department of Henan Province has recently formulated a "Work Plan for Strictly Preventing the Difficult Sale of Vegetables this Winter", proposing to do a good job in the management of vegetables in the field, find out the production and sales situation, monitor and warn price fluctuations, strengthen the docking of production and sales, give play to the role of storage and preservation, guide direct processing and storage, and strengthen product quality supervision.

　　"Regarding the production and marketing of vegetables, the relevant departments have made a lot of efforts and provided price information, but at present, farmers are less organized and planting is blind." Li Guoxiang said that it is still necessary to organize farmers, set up professional associations and cooperatives, systematically understand market conditions, and adjust production scale according to climate change. In addition, the deep processing industry can also be developed to stabilize the price fluctuation caused by centralized listing. "(End)

　　

　　On April 15th, the China-Laos Railway train left Vientiane Station in Laos. On the 15th, the reporter learned from Laozhong Railway Co., Ltd. that on the 13th day when the China-Laos Railway International Passenger Train was successfully launched, the Laos section of China-Laos Railway achieved the goal of breaking 10,000 passengers and freight for the first time, that is, the number of passengers sent exceeded 10,000 passengers and the freight sent exceeded 10,000 tons. Xinhua News Agency reporter Xing Guangli photo

　　Xinhua News Agency, Vientiane, April 15th (Reporter Fan Xi, Sun Yi) The reporter learned from Laozhong Railway Co., Ltd. on the 15th that on the day of the successful opening of China-Laos Railway International Passenger Train on the 13th, the Laos section of China-Laos Railway achieved the goal of double breaking 10,000 passengers and freight in a single day for the first time, that is, the number of passengers sent exceeded 10,000 and the freight sent exceeded 10,000 tons.

　　

　　On April 15th, passengers left the station at Vientiane Station in Laos. Xinhua News Agency reporter Xing Guangli photo

　　Since the beginning of this year, Laos-China Railway Company has further optimized the bus operation plan according to the changes of passenger flow. With the gradual increase of passenger stations and trains, the number of tourists who take trains to Vientiane, Wanrong and Luang Prabang in Laos has increased significantly.

　　

　　On April 15th, employees of Laos-China Railway Company shipped goods at Vientiane South Station in Laos. Xinhua News Agency reporter Xing Guangli photo

　　At the same time, the volume of freight delivery in China-Laos Railway has increased significantly, and the categories of goods have expanded from more than 100 in the early days to more than 2,000. According to Du Zhigang, director of the operation of Laozhong Railway Company, the goods transported from China to Laos are mainly mechanical equipment, household appliances, vegetables, flowers, mechanical parts, etc., and the cargo transportation covers Laos, Thailand, Vietnam, Myanmar, Malaysia, Cambodia, Singapore and other countries; The goods shipped from Laos to China are mainly metal ore, cassava and coix seed, reaching 25 provinces, autonomous regions and municipalities in China.

　　According to statistics, from January 1 to April 13, 2023, 1,130 freight trains were operated in Laos section of China-Laos Railway, up by 122% year-on-year, and the freight volume exceeded 1.18 million tons.

　　Liu Hong, general manager of Laos-China Railway Co., Ltd. told the reporter that China-Laos Railway’s transportation potential has been continuously released, showing the characteristics of "both quality and quantity are rising, and both passenger and cargo are booming", bringing new opportunities for the common development and prosperity of China and Laos.

　　China-Laos Railway Road starts from Kunming, China in the north and ends in Vientiane, Laos in the south, with a total length of 1,035 kilometers. It was put into operation on December 3, 2021.

　　Although the Central Deep Reform Group was established only a thousand days ago, the ecological concept of "Lucid waters and lush mountains are invaluable assets" by the supreme leader has been deeply rooted in people’s hearts and implemented in all aspects of ecological governance. The Central Deep Reform Group launched a series of measures to improve ecological governance and protection, "protecting the ecological environment like protecting eyes and treating the ecological environment like life". Since its establishment, 11 reform documents have been reviewed and adopted in environmental protection, and a series of policies and regulations have been formed in institutional guarantee, and remarkable achievements have been made in construction practice.

　　Advocating new ideas and writing a new chapter in ecological governance

　　Green mountains and green rivers are the basis of human survival and development since ancient times. During the hunting period, once the green mountains and green rivers are lost, human beings have to migrate. During the period of agricultural civilization, nomadic people continued to solve the contradiction between man and nature by means of migration and transition. Farming ethnic groups produce around villages and maintain ecological balance within the villages. Customary conventions and court decrees jointly restrict people’s behavior to ensure the sustainability of green mountains and green rivers. For example, in the article "Guanzi Lizheng", it is said that "the mountains and rivers are saved by fire, and the vegetation is cultivated, and the country is rich." During the period of industrial civilization, people blindly pursued GDP and regarded the natural environment as the source of raw materials and sewage pool, always thinking that the environmental capacity was infinite and the resources were inexhaustible. The result must be environmental deterioration, destruction of green mountains and green rivers, prominent ecological problems, frequent natural disasters, sudden increase of ecological refugees, health problems and food safety problems; The countryside is dying, the smog pollution in the city is intensifying, and the living environment is challenged.

　　China has a large population, poor resources and international industrial transfer, which greatly increases the environmental pressure. The contradiction between industrialization and ecological environment capacity is more prominent, and the damage of green mountains is close to the point of losing the ecological service function. Therefore, it is an inevitable choice for China to turn from industrial civilization to ecological civilization, from black GDP to green GDP, and from black development to green development.

　　The supreme leader has been in politics in Fujian and Zhejiang, two provinces with few mountains and lots of land, and has a deeper feeling of ecological disasters and ecological well-being. From 1996 to 2014, when he was in politics in Fujian, only the top leaders in Changting, Fujian, visited and guided the work five times before and after, and put forward that "soil and water conservation is an important part of the sustainable development strategy and should be highly valued by us". "Soil and water conservation is an important part of the construction of an ecological province, and the places with particularly serious soil erosion should be treated with emphasis. Changting’s soil erosion control should be persevered, and the experience should be carefully summed up, which will play a typical demonstration role in the province’s soil and water conservation work. " In Zhejiang, he put forward the ecological concept of "two mountains" of "Lucid waters and lush mountains are invaluable assets" more loudly, which is concise and clear-cut. Since deepening the reform, the supreme leader has taken the concept of "two mountains" as the starting point of ecological civilization construction, which has promoted the construction of "beautiful China". In just three years, there has been a gratifying trend of greener water and greener mountains, and eco-villages, eco-tourism, eco-housing and eco-pension are in the ascendant. Farmers have also benefited from the green mountains and green rivers, and have a real experience of "Lucid waters and lush mountains are invaluable assets". Nowadays, protecting green mountains and green hills has become a "fashion".The spillover effect of the ecological service function of green water and green mountains also provides clean water, clean air and safe food for the city. The real feelings of urban residents are that drinking water is sweeter, the air is fresher, sandstorms are gone, there are more blue sky and white clouds, the stars are brighter at night and the moon is more round.

　　Improve the institutional system and build a permanent shield for green mountains and green waters.

　　Deep reorganization brings ecological governance into the legal track of ecological civilization construction. A series of reform documents with strong pertinence, high accuracy and wide coverage have been issued. At the 14th meeting of the Deep Reform Group, four documents were issued, namely, Environmental Protection Inspector Program (Trial), Ecological Environment Monitoring Network Construction Program, Pilot Program on Post-employment Audit of Leading Cadres’ Natural Resources Assets, and Measures for Investigating the Responsibility of Party and Government Leading Cadres for Ecological Environment Damage (Trial). At the 27th meeting of the Deep Reform Group, three reform documents were issued, namely, Implementation Measures for the Preparation of Negative List of Industrial Access in Key Ecological Function Zones, Evaluation and Assessment Measures for Ecological Civilization Construction Objectives, and Report on Piloting the Reform of Compensation System for Ecological Environmental Damage in Some Provinces. At the 25th meeting of the Deep Reform Group, two documents were adopted, namely, Opinions on Establishing a Unified and Standardized National Ecological Civilization Experimental Zone and Implementation Plan for the National Ecological Civilization Experimental Zone (Fujian). At the 19th, 22nd and 26th meetings of the Deep Restructuring Group, three documents were issued, namely, the pilot scheme of the Three Rivers National Park system in China, the opinions on improving the compensation mechanism for ecological protection, and the guiding opinions on the pilot reform of the vertical management system for monitoring, supervision and law enforcement of environmental protection institutions below the provincial level.

　　These laws and regulations all embody the concept of green development and the determination to "declare war on pollution", fully embody the new requirements of ecological civilization construction and create a new chapter in ecological civilization construction. In order to protect, restore and build the ecological environment, laws must be followed and violations must be punished. In particular, the improvement of the compensation mechanism for ecological protection will make the ecological service function and socio-economic function reasonably complementary in a wider area, which is more conducive to the harmonious development of natural society, economy and society. Only with the system guarantee can we achieve "Lucid waters and lush mountains are invaluable assets".

　　Establish a national ecological civilization experimental zone and open a new model of ecological governance.

　　Fujian, Jiangxi and Guizhou provinces were selected as the first batch of national ecological civilization experimental zones, opening a new model of ecological governance. Before, there were many ecological agriculture demonstrations and ecological civilization demonstrations in China, all of which were carried out at the county and municipal levels. There were some problems, such as small scope and scale, which could not form cross-basin, cross-region, large-scale and full-coverage demonstrations, and could not meet the requirements of ecological governance models and institutional arrangements under different development levels, different natural conditions, different population conditions and different resource backgrounds. The establishment of the National Ecological Civilization Experimental Zone is to combine top-level design with local practice, with the goal of exploring a new institutional system of ecological governance, including establishing and improving the system of land spatial planning and use control, improving the market system of environmental governance and ecological protection, and establishing and improving the property rights system of natural resources assets.

　　Only the system and mechanism that has been proved by practice to be conducive to realizing the vision of "Lucid waters and lush mountains are invaluable assets" is truly conducive to people’s well-being, to improving the ecological service function, to improving the ecological environment and to green development, and can it have the value of being popularized throughout the country. The establishment of the National Ecological Experimental Zone has made great strides towards overcoming the shortcomings of short-sightedness since industrial civilization, and made the institutional innovation of ecological governance reflect sustained and healthy vitality.

　　Environment is people’s livelihood, and clear water and green hills are happiness.

　　In just a thousand days, the ecological management effect is remarkable. According to the information released by the State Forestry Administration: "In the past three years, China has completed 450 million mu of afforestation and 600 million mu of forest tending, and the forest coverage rate has increased to 21.66%. 561 national wetland parks were added, and the protection rate of natural wetlands increased to 46.8%. 10 million hectares of desertified land have been managed. A new round of returning farmland to forests has been launched, and new progress has been made in the construction of shelterbelts in the Three North, Yangtze River, Pearl River and coastal areas, the greening of Taihang Mountain, the control of rocky desertification and the control of sandstorms in Beijing and Tianjin. 74 national forest cities were added. " Sandstorms have disappeared, especially in the spring, summer and autumn of 2016, and the smog in Beijing and even North China disappeared. Green mountains and green hills become Jinshan Yinshan, and blue sky and white clouds are no longer extravagant hopes.

　　These benefits to hundreds of millions of people are mainly attributed to the fact that the Deep Reform Group dares to adhere to the green development path with the spirit of a strong man breaking his wrist and is determined to carry out source management. Everything is for green mountains, beautiful environment and people’s health. The deep reorganization should start from the source, and the production capacity with high consumption, low efficiency and serious pollution should be shut down, reduced and moved, and it will never be delayed. As the Supreme Leader said when attending the deliberation of the Jiangxi delegation to the Third Session of the 12th National People’s Congress, "The environment is people’s livelihood, the green hills are beautiful, and the blue sky is also happiness. We should protect the ecological environment like eyes and treat it like life. We must not be soft on acts that destroy the ecological environment, and we must not do it again. "

　　 About the author: Dr. Liu Zongchao, academician of the United Nations International Academy of Ecological Security, president of the Beijing Institute of Ecological Civilization Engineering, and researcher of the Ecological Security Research Center of the China Foundation for International Studies. He has been engaged in the research of ecological civilization theory and efficient ecological agriculture for a long time and is a famous expert in the ecological field.

It seems that Ada has been called a "good figure" by many people since his debut. There is no way to bypass it. In such a complicated vat of entertainment circle, female stars are really difficult to get along with. Once they are labeled, they will form a stereotype. Every time he walks down the red carpet or attends an event, Ada often gets attention because of his good figure.

Moreover, when filming, Ada often dresses up boldly and deliberately, which becomes a "highlight moment" in the film. I don’t know whether the supervisor asked or the employer asked. All I know is that Ada later revealed in an interview that he didn’t want to be a Ada who could be teased at will.

From the speech, we can feel that Ada has been criticized a lot over the years because of the label issue, and has also experienced a lot of cyber violence. Ada, born in 1980, is 43 years old this year. At her age, it’s actually quite embarrassing in the entertainment circle. She can’t play the role of student or queen mother. He always plays a supporting role without embarrassment.

But even so, Ada is still arrogant and trying to find a new way out. Although 43 years old is no longer young, it has brought peace and calmness to Ada. At the press conference of the new drama "Laifu Hotel", Ada lost all her face value for her new role. Even the previous career line has disappeared, and she suddenly seems to be a different person.

In the past, Ada had a chubby figure because of the label and filter, and she exuded a different femininity. While in front of Ada is wearing a black T-shirt, with long soft hair, almost no makeup, but it looks clean and fresh. Although the overall weight is much thinner than before, the perseverance and gentleness are fascinating.

In the past, Ada often wore heavy makeup and colorful clothes and danced in front of everyone. Whether he did it voluntarily or to survive, some people’s eyes are biased, which makes us feel the more cruel side of the entertainment industry. But now, Ada has completely changed. She no longer wears heavy makeup, showing gorgeous Leng Yan style. She just wants to be who she really is.

A black T-shirt with long shiny black hair shows Ada’s beauty to the fullest. The breeze stirred Ada’s hair and disturbed my heart. I didn’t expect Ada to be so beautiful. Everyone used to pay too much attention to Ada’s figure. In fact, her face value and temperament are not inferior to other female stars.

The simpler the makeup, the brighter the clothes, and the easier it is to show the top feeling of female stars. Accustomed to the charming side of Ada, this simple and simple dress really makes people shine at the moment. Many netizens think that Liu Yan is too thin to look completely different from the previous goddess. He looks a bit like an online celebrity.

I think Ada is at its best now. The 43-year-old woman has been in the entertainment circle for many years and has been labeled with various labels, but she still hasn’t given up. She dares to try anything, is willing to challenge any style, and is willing to accept any role. Ada is much bolder and truer than many female stars in domestic entertainment circles. At the age of 43, she found the most comfortable posture through trial and error.

Although Ada is much thinner than before and her makeup is much lighter, she is the most beautiful. Bright eyes, white teeth and fair skin, unadorned beauty is the most deadly. Innocent face exudes sincerity and beauty. In the complicated entertainment circle, there are not many such pure souls.

Without the career line, girlish feeling and so-called stickers, Ada’s acting skills are still solid. Although she is not a professional actress, her performance in film and television dramas is no worse than that of other professional actors. Especially Sun Sanniang in Dream of China, her acting skills and lines make her shine with confidence. It can be said that Liu Yan is really a treasure girl, and I hope she will get better and better.

# Li Yan # # Ting Yaner is charming # # Li Yanti # # There are too many Li Yan #

　　Cctv newsAccording to the Education Bureau of tangyin county, Anyang City, Henan Province, recently,tangyin countyThe short story "The Rhododendron Falls" published by Li Moumou, a junior high school principal, has caused adverse effects in society.

　　After the incident,Tangyin county Education BureauImmediately organized personnel to investigate, and now Li Moumou has been dismissed. According to the investigation, the relevant personnel will be dealt with seriously in accordance with relevant regulations.

Enter [news 30 points] > >

　　　　CCTV News (news 30 minutes): Recently, an ordinary farmhouse in Baimiao Village, Tongzhou District, Beijing has attracted a lot of media attention. There, ten uremic patients bought three second-hand hemodialysis machines and built a self-service dialysis room because they couldn’t afford the high dialysis fees in regular hospitals. Among the ten patients, some people have been living on such self-help dialysis for three or four years.

　　　　This is a quiet farmhouse, and the sound of three dialysis machines running is particularly clear. Ten uremic patients have little contact with villagers, and they have lived in almost seclusion for four years. But a few days ago, some media reported their situation, which attracted the attention of local government departments. On the way to our interview, the staff of Tongzhou District Health Bureau, Food and Drug Administration, Public Security Bureau and other departments suddenly went to the clinic and issued a notice of banning ten uremia patients. This caused quite a stir in the small courtyard.

　　　　For uremia patients, if they don’t have dialysis for a few days, their lives may be in danger. Hearing that the local health bureau wouldn’t let them have dialysis, the patients began to panic. Wei Qiang is one of the founders of the small courtyard. It is not the first time that he has been investigated by the government. Their self-service dialysis room was first set up in sanhe city, Hebei Province.

　　　　After being investigated by sanhe city, Wei Qiang and others had to move to Baimiao Village in Tongzhou (District). In fact, Tongzhou District Health Bureau also knows that these uremic patients only save themselves rather than make profits, so they didn’t really confiscate their dialysis machines.

　　　　We saw that there was no rescue equipment in the small courtyard except for three dialysis machines and a water processor that a dialysis machine must have. In fact, all patients in the small courtyard know that self-help dialysis is very risky in such a simple environment, and death may occur at any time, but Wei Qiang said that it is by such self-help dialysis that the small courtyard saved our lives.

　　　　Wei Qiang was originally a fruit merchant in Siziwangqi, Inner Mongolia, and was diagnosed with uremia in 2004. After living in the hospital for a year, it cost more than 80 thousand yuan, and Wei Qiang could no longer pay for dialysis. In desperation, he and several patients figured it was better to borrow some money to buy a dialysis machine. In 2006, he spent more than 90,000 yuan to buy a second-hand dialysis machine and officially started his self-service dialysis life.

　　　　Later, more and more uremic patients knew about the self-service dialysis room, and many people joined the team. Li Lidan, the youngest patient, said that the biggest advantage of dialysis in a small courtyard is that it is cheap. It only costs 100 yuan to do dialysis, and she can do it every three days. Unlike in the past, a dialysis in the hospital cost 500 to 600 yuan, and she would only do it once because she was too uncomfortable.

　　　　The small hospital adopts the mode of sharing the cost equally. Each member needs to pay 20,000 yuan for the equipment at one time, and the consumables such as drugs used for each dialysis are used separately. Daily expenses such as housing, water and electricity, and the salary of a nurse are also shared equally by patients. With the increase of patients in the small courtyard, everyone’s cost is getting lower and lower. After getting along with several patients for several years, they all regard the small courtyard as their home.

　　　　Once uremia patients start dialysis, they can’t stop. The patients in the small courtyard say that in addition to the help of relatives and friends, the civil affairs department also gives some low premiums, but we find that there is an important link missing, medical insurance reimbursement.

　　　　No reimbursement or low reimbursement rate is an important reason why patients leave regular hospitals and choose small hospitals for dialysis. They said that if there is a higher medical insurance reimbursement, the cost will be almost the same as that of a small hospital, and they will definitely choose to go back to a hospital with low medical risk for dialysis.

　　　　In 2008, sanhe city, Hebei Province implemented a free dialysis policy for local uremic patients, and four or five patients from sanhe city left the small courtyard at once. Wei Qiang said that although he can’t enjoy medical insurance reimbursement yet, he also feels that the medical insurance policy is changing quietly. Therefore, he has not been home for four or five years and has some expectations for the future.

　　　　The feeling of the patients in the small courtyard is right. In 2009, the national new medical reform plan will be announced soon. According to experts, the dialysis problem of uremia patients will be included in the scope of medical insurance in the future, and the intervention and treatment of chronic diseases will be undertaken by community health institutions, which means that uremia patients no longer have to travel all the way to Beijing for dialysis, and they can find dialysis machines in community hospitals near their homes.

Editor: Li Xian