2021The main objective is to complete the annual investment in transportation infrastructure buildings75 billion yuan or more; 240 kilometers of new expressways; 300 kilometers of first-class highways; 3,000 kilometers of rural highways; civil aviation passenger throughput 16 million, port container throughput 2 million TEU.

focusDo the following8 areas of work:

(1) Accelerate the start and take the first step in building a strong transportation province

The first is to improve the transportation planning system.Effectively connect the layout of the national comprehensive three-dimensional transportation network, overall plan the provincial comprehensive transportation network and hub system, and complete the preparation of the comprehensive three-dimensional transportation network planning outline in Anhui ProvinceProvincial national economic and social development"Fourteenth Five-Year Plan"planOutline and country"Fourteenth Five-Year Plan"Modern comprehensive transportation system development plan, the introduction of the province’s transportation"Fourteenth Five-Year Plan"Development planning. Complete the preparation of land and spatial planning for transportation infrastructure, and promote the coordination of transportation facility planning and construction with ecological protection red lines and natural protected areas. Issue and implement the highway network revision plan. Form a strong transportation province"Fourteenth Five-Year Plan"And medium and long-term support for the planning system.

two isAccelerate the construction of a transportation power pilot.Launched a pilot implementation plan for building a transportation powerhouse in Anhui Province.Refine the tasks of the pilot project and concentrate on making breakthroughs first. Promote the integrated development of transportation and tourism in southern Anhui, focus on building highways such as Huangqian and Wuhuang, and implement Anhui, Zhejiang and other expresswaysLine 1 and other tourist scenic roads and transportation integration facilities have been upgraded and improved"fast forward"Slow Travel"Transportation network. Enhance the radiation capacity of Hefei’s comprehensive transportation hub, implement projects such as airport reconstruction and expansion, rail transit, and expressways, and promote combined transportation of air, land, and air and rail. Support rural revitalization and development, promote transportation construction projects to be more tilted towards entering villages and households, and promote the connection of buses to public transportation in established villages. Promote the application of smart transportation technology, deepen the research on technologies such as the intelligence of survey and design, and the maintenance and testing of underwater buildings, and promote the pilot construction of new infrastructure.

Three isImprove the security mechanism for the construction of a province with strong transportation. Improve the internal and external operation working mechanism for the construction of a province with strong transportation, give full play to the functions of the office of the leading group for the construction of a province with strong transportation, establish normal working mechanisms such as coordination and linkage, dispatch guidance, monitoring and evaluation, and press stubble to promote implementation. Issue a three-year action plan and annual work points for the construction of a province with strong transportation. Scientifically formulate supporting policies, and prioritize plans and funds for projects included in the scope of pilot construction.Actively promote the promotion and application of pilot experience results, and promote the transformation of pioneering into demonstration and leadership.

(2) Take the initiative to serve and support major national strategies

The first is to promote the higher-quality integrated development of the Yangtze River Delta. Strengthen project cohesion and work together to formulate a comprehensive three-dimensional transportation network plan for the Yangtze River Delta region…Do a solid job"Six counties in one place"The transportation work of the Yangtze River Delta Ecological Priority Green Development Industrial Centralized Cooperation Zone will be launched first, and the renovation and expansion of Xuanguang Expressway and provincial highways will be launched firstA number of projects such as the reconstruction of 459 Guang’an Road. Serve northern Anhui to undertake the development of industrial transfer agglomeration areas, give priority to supporting major transportation channel projects in agglomeration areas, start construction of expressways such as Suzhou to Guzhen, and implement trunk highway projects such as National Highway 237, Anhui-Jiangsu Provincial Boundary to Dangshan, and Provincial Highway 101 Huaixu Express Channel. Continue to promote regional interconnection, speed up the implementation of projects such as Huangqian Expressway, coordinate the opening up of inter-provincial road sections such as Ningxuan-Hangzhou Expressway, and smooth the new Bianhe waterway, Wushen Canal and other inter-provincial waterways. Support the provincial port and shipping group to deepen the integration of ports and shipping resources, and promote the strategic coordination, market integration and dislocation development of ports along the river and along the Huai River and coastal ports. Deepen the strategic cooperation between the provincial"Integration"Freight"single system"Traffic"One Card"And information services"one-stop shop"…

The second is to assist in the construction of the beautiful Yangtze River (Anhui) economic belt.Solidly implement the national and provincial ecological environment warning film on transportation problems, and continue to advance"23 + 80 + N"Problem rectification. Built WuhuLNG refueling station, effectively operate Anqing tank washing station, and promote the construction experience of ship sewage landing projects in the Xin’an River Basin. Continue to promote the transformation of port shore power facilities and ship power facilities, and improve the matching degree between port shore power facilities and ship power facilities.Strictly crack down on ships’ failure to use shore power in accordance with regulations.Promote the full coverage of the joint supervision and service information system for marine water pollutants, and strengthen the supervision of the use of pollution prevention and control facilities in ships and ports.Strengthen the linkage of pollution prevention and control law enforcement between ships and ports, continue to carry out special projects such as inland waterway ships involving sea transportation, and improve ship pollutants"ship– Port – City"Collaborative management effectiveness. Advance"three no"Ship regulation, cooperate with the ban on fishing in key waters of the Yangtze River Basin.

Three isContinue to promote the effective connection between comprehensive poverty reduction and rural revitalization.On the basis of completing the task of poverty reduction in transportation as scheduled,high-quality propulsion"Sihao Rural Road"Construct, effectively serve and support the implementation of the rural revitalization strategy. Maintain the stability of the transportation poverty reduction policy, continue to promote the widening and reconstruction project of the narrow road base pavement of rural highways, and upgrade and transform county and township highways500 kilometers, 500 kilometers of double-car roads in organized villages were implemented, and 2,000 kilometers of hardened roads in large natural villages with more than 20 households were built. Deepen the reform of the rural highway management and maintenance system, carry out 6 provincial reform pilots, and guide and promote the start of pilots at the municipal and county levels; give full play to the assessment"Baton"The role is to promote the implementation of the responsibilities of road chiefs at the county, township and village levels, strengthen the construction of professional management teams, and promote the proportion of large and medium repairs of rural highways to reach5%, excellent medium road rate not less than 85%. Create 8 provincial"Sihao Rural Road"Demonstration counties, promoting the establishment of national and provincial demonstration cities and demonstration counties. Strictly implement"Four don’t pick"Required to continue to deepen the fixed-point assistance work.

(3) Highlight project challenges,Improve and upgrade the transportation infrastructure network

The first is to strengthen the planning of major projects.around"Anhui on the highway"Anhui on the Waterway"Anhui on the wings"Closely combined with the needs of local economic development, relying on the preparation of major development plans at all levels, overall planning of major highway, waterway, and civil aviation projects, focusing on comprehensive transportation planning, focusing on the connection with land and spatial planning, and accelerating the formation of plans"Fourteenth Five-Year Plan"And the medium and long-term transportation infrastructure project library, establish a batch of reserves, start a batch, build a batch, and complete a batch of echelon promotion mechanisms, forming a virtuous circle of continuous and rolling implementation.

The second is to strengthen the pre-work. Implement the pre-work of the expressway to focus on key actions and take superConventional combat mode, comprehensive inversion of the construction period, strict wall chart operations, and efforts to promote the start of construction of Wuxuan Expressway reconstruction and expansion, Taihu Lake to Qichun Expressway, etc19 1355-kilometer expressways, rolling to promote the preliminary work of 7 projects planned to start in 2022, including the Anqing Haikou Yangtze River Highway Bridge. Implement the pre-work of ordinary national and provincial trunk highways to focus on key operations and deepen"Provincial-municipal joint construction"Key support and key dispatch of highway connectivity projects from provincial capitals to cities, cities to counties, and intercity bottleneck road sections.Accelerate the advancement of national highways312 Quanjiao Section, National Highway 329 Hanshan Section and other first-class highway projects.Coordinate and promote the preliminary work of key water transportation and civil aviation projects, and start construction of water transportation projects such as the renovation of the Bengbu section of the Tuolu River waterway, the second phase of Dingbu Port in Langxi County, and the bulk cargo terminal in Suixi CountyHefei Xinqiao Airport Phase II, Bozhou Airport2 civilian airports, as well as Feixi Guanting, Tongcheng, etc5A general airport.

The third is to speed up the construction of key projects. Continue to do a good job in building and stabilizing investment, and ask the provincial government to issue implementation opinions on accelerating the development of water transportation in our province, and build a policy support system for the construction of three major sector projects of highway, water transportation and civil aviation. Make every effort to promote20 nearly 1,300 kilometers of expressways under construction have been completed, including the Gubang Expressway, Wuhuang Expressway, and Chizhou-Shitai section of Chiqi Expressway.fully realized"County Expressway"Develop and implement expressways"county seat pass"Advance the plan. StrongDispatch and advance of under-construction projects of trunk highways in ordinary countries and provincesConstruction of 3,000 kilometers of ordinary national and provincial trunk roads, more than 100 kilometers of new highway connectivity projects from provincial capitals to cities, cities to counties. Implementation of 6 new foreign-funded projects including the reconstruction project of the G328 Dingyuan to Yongkang section. Speed up the construction of key water transportation projects,Implemented a pilot program for comprehensive management of vortex waterways and port construction.buildInvoke the Jiangji-Huai Shipping Project, the main water transportation channel of the Huaihe River, and the renovation projects of tributary waterways such as the Tuoshou River, complete the renovation of the waterway of the Shuiyang River, and build the Genglou double-track ship lock of the Shaying River. Speed upThe reconstruction and expansion of Fuyang, Chizhou and Anqing transportation airports has been completedHefei Xinqiao Airport apron expansion and Lujiang general airport new.

The fourth is to focus on strengthening the engineering organization.Actively respond to the globalization of project distribution. The challenges of diversification of investment subjects and centralization of project implementation. Rationally arrange the construction sequence of expressways and national and provincial trunk highways, scientifically formulate special project plans such as quality control, safety assurance, traffic organization, and construction organization, and create a smooth, safe, green, and efficient construction environment. Highlight precise management, effectively divert traffic in advance, reduce the number of traffic guidance changes, rationally determine vehicle speed limits, and avoid long-distance detours or congestion. Strengthen project quality supervision, compact the main responsibility of quality management, make full use of digital and information technology, promote management mode transformation and management capacity enhancement, and build a safe century-old quality project.

(IV) Promote deep integration and optimize the supply of integrated transportation services

The first is to optimize and promote the construction of comprehensive transportation hubs.Construction of airport hub and completion of Hefei Xinqiao Airport"One hub, one center"Programming,Promote SF Express Anhui Regional Air Transit Center,Wuhu (JD.com) global air cargo super hub port construction and operation. Construction of port hub, start the first phase of Wanhe New Port project, etc5 port terminal projects,Continue to promote the first phase of Wuhu Port Zhujiaqiao Port Area12 projects were implemented to accelerate the construction of Wuhu Ma’anshan Jianghai Intermodal Transport Hub and Hefei Jianghuai Intermodal Transport Hub; improve the hub collection and distribution system, and build 2Along the river,4 container and transportation highway projects along Huai, further open up"First kilometer"and"The Last Mile". Build a dry port hub, start construction of the transportation hub center of the high-speed rail new area in Susong County, and build a new Anqing West11 passenger transportation hubs and 5 freight hubs including Wuhu Baote Railway Logistics Comprehensive Base.

The second is to promote the intensive and efficient development of freight services.Vigorously develop inland river container transportation and consolidate expansion"One core and two wings"Container routes. Advancing bulk cargo"Gongzhan iron"Circular water", strive"molten iron"Container intermodal traffic growthMore than 10%. Complete the first batch"10 + 2"Acceptance of multimodal transport demonstration projects, and establishment of the second batch of demonstration projects. Vigorously develop air cargo, and strive to open Japan, South Korea, and Hefei– Beijing and other all-freighter routes, promote the establishment of local airlines, and expand the regular truck flight business between Hefei and Shanghai Airports. Strictly implement"green channel"TruckETC 15% off and other toll reduction policies. 100 township transportation stations with more than three functions have been newly built or renovated. The coverage rate of express delivery services in established villages has reached 85%. Speed up the construction of provincial network freight information monitoring systems, encourage the development of network freight platforms, and carry out network freight monitoring and evaluation.

The third is to accelerate the improvement of passenger service quality.Prioritize the development of public transportation and promote4 national public transportation cities and 11 priority public transportation demonstration cities were established, and the operation evaluation of Hefei Rail Line 4, the northern section of Line 5 and Wuhu Light Rail was done well. Encourage and guide the transformation of public transportation enterprises, support the development of customized passenger transportation, and continue to promote the transformation of road passenger transportation to urban and rural public transportation integration;Speed up the transformation of public transportation in towns and villages, and the proportion of public transportation in established villages will reach40% to promote the development of global public transportation.Launch the establishment of urban and rural transportation integration demonstration counties.Increase the application and promotion of new models and new products such as commuter shuttles and shared cars, and guide the promotion of enjoyment in the Hefei metropolitan area1-Hour commuter passenger service. Increase ETC issuance, vigorously promote ETC multi-scenario applications, and add more than 1 million ETC users.

(5) Focusing on deepening reform and accelerating the improvement of the industry’s modern governance capabilities

The first is to continue to deepen reform in key areas. Fully complete the formation of comprehensive law enforcement teams in cities and counties, and rationally divide the boundaries of law enforcement responsibilities.Establish and improve the comprehensive law enforcement operation mechanismPromote the implementation of the reform of the division of fiscal powers and expenditure responsibilities in the field of transportation, formulate a list of the division of fiscal powers and expenditure responsibilities in the field of water transportation management and maintenance; deepen the reform of the investment and financing system, and support transportation investment and financing enterprises to raise funds through distribution company bonds, medium-term notes, perpetual bonds and other channels; actively plan foreign-funded projects and strive for more foreign-funded loans. Actively strive for the amount of special project bonds for toll roads, and make full use of live special project funds, special project bonds and new financing tools. Make every effort to strive for the pilot reform of low-altitude airspace management. Improve the freight rate formation mechanism for cruise taxis, and encourage cities with conditions to actively explore the implementation of government-guided prices for cruise taxis.

The second is to promote the construction of government departments under the rule of law in depth. Issue implementation opinions on deepening the construction of government departments under the rule of law in transportation. Make overall plans for local legislative planning in the industry and speed up the legislative process of the "Anhui Provincial Waterway Regulations". Fully implement the three-year action to improve the quality of law enforcement personnel and continue to advance"Four basics and four modernizations"Construction, comprehensive promotion and application of the Ministry and the province to jointly build a comprehensive administrative law enforcement management information system (Phase II). Compile and implement administrative inspection lists and comprehensive administrative law enforcement lists. Do a good job"eighty-five"Popularization of lawWe shall earnestly strengthen the publicity and education of the Constitution, the Civil Code, and industry laws and regulations.

The third is to continue to optimize the business environment of the industry. Distribute a class of seafarers’ certificates of competence, special training certificates, etc4 provincial matters, adjusted"Ship welder examination qualification determination"For public service matters. Promote the decentralization of a number of high-frequency and convenient power matters that are conducive to grassroots undertaking and industry supervision, and strengthen interim and ex post supervision. In-depthimplement"Four get one service free" Double Thousand ProjectdeployDeepen the application of transportation electronic licenses and fully implement government services"Good bad review"System, actively promote government services"Inter-provincial general office"Consolidate"Credit Ministry of Transport"Create results and improve the construction of integrity system. Strictly standardize bidding supervision and maintain market order in transportation construction. promote application"Double random, one public"Internet+ supervision"and"Credit supervision", standardize the development of new business models. Actively participate in the construction of free trade zones in our province.

(6) Coordinate the development of safety and strictly prevent safety risks in the transportation industry

oneIt is necessary to do a good job in epidemic prevention and control. Improve the command and dispatch, emergency plan, and material security system of epidemic prevention and control, and formulate a winter and spring transportation classification and classification epidemic prevention and control work planEstablish and improve the emergency reporting system for major incidents, strengthen training and drills, and ensure timely and efficient emergency response.insist"person"thing"environment"With the same defense, strictly implement the prevention and control measures stipulated in the road and waterway epidemic prevention and control guidelines. Implement measures such as ventilation and disinfection of transportation tools and stations, passenger temperature measurement, and health code inspection. Strengthen the control of cold chain transportation and import high-risk non-cold chain transportation links, and establish cold chain transportation enterprises, vehicles, and personnel ledgers. Do a good job in the transportation of emergency materials. Strengthen entry personnel"Point-to-point, one-stop shop"Take delivery, do a good job in international ship docking operations and crew shifts. Make every effort to ensure the Spring Festival transportation service under the normalization of epidemic prevention and control.Continue to do a good job in regular prevention and control work such as contacting insurance, government agencies and schools.

twoIt is necessary to firmly maintain the bottom line of safe production.Strengthen the responsibility of transportation safety production, improve step by step after the reform of the safety committee under the overall guidance of the management industry must manage the new pattern of work safety"Concentrated year"Activities, continue to promote the task of rectification, focusing on the road transportation of hazardous chemicals, inland waterway ships involving sea transportation, ferry ferry and other safety centralized rectification, continue to carry out the special project action of adhering to the quality and safety red line of highway and waterway projects. Accelerate the construction of transportation safety supervision and emergency command information system, establish major risks and hidden dangers in the industry, key supervision objects"Electronic map"Organize and implement the census of natural disaster comprehensive risk highways and waterways, form a dual prevention system of risk prevention and control and hidden danger management, and resolutely curb the occurrence of major safety accidents.

The third is to consolidate and deepen the achievements of overloading and overloading governance"Fourteenth Five-Year Plan"Planning of super-site. Actively promote the off-site law enforcement pilot experience of Huaibei, Chuzhou, Tongling and other super-sites. Complete the construction of a networked super-site management information platform jointly built by the ministry and the province, accelerate the upgrade and transformation of super-site facilities and equipment, promote the networking sharing of site detection data and video information, and achieve the networking rate of super-site in the provinceMore than 90%. Dynamically adjust the province’s key supply supervision units, speed up the construction of the electronic capture system of fixed super stations, and promote the full coverage of electronic capture at fixed super stations. Improve the integrated law enforcement cooperation mechanism of the Yangtze River Delta, and carry out joint inter-provincial and inter-municipal regional super control actions such as three provinces and one city in the Yangtze River Delta and six Tongyi four cities on a regular basis.

Fourth, make every effort to maintain the stability of the industry. Actively preventvariousRisk, do a good job in ensuring the payment of migrant workers’ wages. Normally promote the fight against gangs and evil special projects to"9 ? 28"The accident and the passenger market chaos prompted by the provincial procuratorate’s procuratorial proposal should be the focus, and the transportation market chaos should be comprehensively cleared and the chaos management in key areas should be deepened.Ensure the safety and stability of the domestic and international logistics supply chain.Improve the transportation system for emergency materials"1 + 9"Emergency plan system, conduct exercises and drills on a regular basis. Consolidate and improve working mechanisms such as forecasting and early warning, risk research and judgment, and make every effort to do a good job in safety supervision and emergency protection during key periods such as extreme weather, major events, and holidays and flood seasons. To celebrate the founding of the PartyThe 100th anniversary will create a safe, stable and harmonious atmosphere.

Highlight technological innovation and deeply empower the development of smart green transportation

One is to promote the digital transformation of transportation.Complete the preparation of the "Overall Framework Design of Intelligent Transportation in Anhui Province", formulate standards and specifications for the exchange and sharing of transportation information resources, and launch a three-year action plan for smart transportation construction. Launch the pilot projects of Haining and Ningwu Smart Expressway and Wuhu Port Smart Port.Deepen the application research of new technologies such as big data and artificial intelligence in the field of comprehensive law enforcement supervision of road transportation,Support the development of autonomous driving demonstration applications.Construction of comprehensive traffic operation monitoring and coordination of command, networking, etc6 provincial government affairs information platforms, planning to promote the construction of 14 provincial government affairs information projects such as smart transportation big data centers, and accelerate the digitalization process of industry governance. Do a good job in information cyber security.

The second is to enhance the ability of transportation science and technology innovation. Support transportation leaders to form systematized and task-oriented innovation teams, and promote transportation intelligent manufacturing R & D centers, etc6 ministries and provinces to build science and technology innovation platforms, strengthen key core technology research, and promote"Highway Industrialization Intelligent Construction Technology Science and Technology Demonstration Project"Research on key scientific and technological projects to accelerate the industrialization of scientific and technological achievements. Strengthen the formulation of standards in key areas such as Yangtze River Delta regional standards and infrastructure, green environmental protection, and smart transportation.

The third is to promote green and low-carbon development of transportation. Actively implement the national transport action plan for peak carbon dioxide emissions. Strengthen the strict control and efficient use of space resources in transportation infrastructure, implement green design, green construction, and green operation, and promote the intensive conservation and utilization of resources in the field of transportation and ecological protection. Strengthen the promotion and application of new energy and clean energy vehicles, ships, etc., and the proportion of new energy buses in the new and replacement buses will reachMore than 80%. Strictly control the access of operating vehicles, and promote the pollution control of operating diesel trucks. Carry out green travel creation actions. Do a good job of dust control on highways and waterways. Strictly crack down on illegal cross-border transfer and dumping of solid waste and hazardous waste.

(8) Adhere to the strict word first and continue to purify the good political ecology of the industry

First, always put political construction first. Persistently learn to understand and implement the Supreme Leader’s thought on socialism with Chinese characteristics for a new era, in-depth study and implementation of the spirit of the Fifth Plenary Session of the 19th Central Committee of the Communist Party of China and the instructions of the General Secretary of the Supreme Leader’s important speech on Anhui, strengthen"Four Consciousness"Firm"Four self-confidence"achieve"Two maintenance"Take not forgetting the original intention and keeping in mind the mission as the eternal task of strengthening the party’s construction and the lifelong task of all party members and cadresFurther promote the model organbuild,Continue to strengthen the construction of basic skills at the grassroots level.Solid development"Double contention and one creation" action,"pilot"Plan to enhance the vitality of grass-roots organizations and truly build grass-roots party organizations into a strong fighting fortress to promote the development of transportation.

The second is to comprehensively promote positive style and discipline"Live a tight life"Demand, practice economy and oppose waste. insist on correcting"Four Winds"Together with the new wind, persevere in implementing the spirit of the eight central regulations, and resolutely prevent the outstanding problems of rectifying formalism and bureaucracy. Implement the main responsibility of comprehensively and strictly governing the party, always put discipline and rules in front, and accurately use supervision and discipline"Four forms"Strengthen communication and coordination with the discipline inspection and supervision team in the office to accelerate the construction of"three no"Long-term mechanism. Adhere to no-restricted areas, full coverage, zero tolerance, continue to carry out political inspections, continuously strengthen audit supervision and rectification, investigate and deal with violations of discipline and laws together, persevere and unswervingly, to ensure political clarity and clean teams.

The third is to effectively strengthen the construction of the cadre and talent team. Continuously optimize the structure of the cadre team, coordinate the construction of the cadre echelon well, solidly promote the parallelism of job ranks, improve the assessment and evaluation mechanism, and encourage party members and cadres to perform their duties and responsibilities. Innovate the methods of cadre education, training and practical exercise, and carry out cadre training and education at multiple levels and in multiple forms through organizing transfer, off-the-job training, online training, transportation lectures, etc., to comprehensively improve party members and cadres"Seven abilities"Promote the construction of the new campus of Anhui Transportation Vocational TechAcademy, strengthen the training of professional and technical personnel, and do a good job in the evaluation of professional titles. Continue to do a good job in the work of retired cadres, and strengthen the improvement of group groups, united front, war readiness, foreign affairs, petitions and other work.

The fourth is to further enhance the soft power of the industry. Strictly implement the ideological work responsibility system, strengthen the construction and management of positions, and strengthen the monitoring and guidance of public opinion. Strengthen the construction and application of transportation finance media, and organize the development"Looking at Anhui along the expressway"And other theme publicity activities to tell the traffic story of the new era. Solidly do a good job in party building100th Anniversary Series Celebrations. Deepen"Smile service, warm transportation"Cultural brand effect, promoting volunteer service branding, cultivating advanced models in the industry, giving play to the role of advanced models in demonstration and encouragement, continuously boosting the energy of the organs and establishing a good image of transportation.

　　IMAX Corporation and IMAX China Holding Inc. and Wanda Film’s joint stock company today announced the signing of the largest IMAX-ever agreement to build 150 new IMAX cinemas in 002739.SZ. Under the agreement, the cinemas will be built and distributed across China over a six-year period starting next year, with 110 to be installed by the end of 2020.

　　The deal builds on a long-standing partnership dating back to 2007, when Wanda Cinemas, the cinema arm of Dalian Wanda Group, opened its first IMAX cinema in Dongguan. As Asia’s largest cinema chain, Wanda Cinemas currently operates more than 160 IMAX theaters.

　　Today’s agreement is expected to increase the number of Wanda’s IMAX cinemas by more than 70 per cent to 360, with the majority set to open over the next three years and all signed cinemas scheduled to open by 2022. The agreement will increase the number of cinemas under contract in IMAX China by nearly 60 per cent. The agreement is on top of a contract signed by the two companies in 2013, under which Wanda will build 120 new IMAX cinemas by 2020. Wanda now expects the projects under the previous agreement to be installed by the end of 2016, four years earlier than originally expected. Nearly half of the new IMAX cinemas in Wanda’s cinema chain will be equipped with IMAX’s latest laser projection technology from the end of 2018. The main provisions of the new agreement are highly similar to those of the 2013 agreement.

　　Richard Gelfond, chief executive of IMAX, said: "This is a landmark development in the history of IMAX and a key point in our business growth strategy. In particular, based on our long-term observation, contracted theaters translate directly into theater installations, resulting in higher box office and ultimately increased company revenue. This agreement not only strengthens our leadership position in China, the world’s fastest growing film market, but also reinforces IMAX’s partnership with one of its most important business partners, Wanda Cinemas, and speaks volumes about the value Wanda brings to the IMAX business. Wanda’s significant commitment in the agreement fully demonstrates that our decade-long partnership has far exceeded the original single-theater sales agreement. Wanda and IMAX are now operating under a more sustainable revenue sharing model, providing new opportunities for the release and box office distribution of key Chinese-language films.

　　Since 2013, IMAX and Wanda have collaborated on a number of high-profile Chinese-language films, including "Tai Chi Man," "Get Out! Mr. Tumor" and "Finding the Dragon," which set a box office record for an IMAX Chinese-language film released last year.

　　"The strategic importance of our partnership with IMAX cannot be overemphasized," said Zeng Maojun, president of Wanda Cinemas. "This partnership has been critical to the rapid growth of Wanda’s cinema business and our record of being the leader in the Chinese box office market for seven consecutive years. And our business model will create differentiated film experiences. Combining Wanda’s first-class cinema environment with IMAX’s advanced film technology, we are able to provide the most immersive and powerful film entertainment experience anywhere in China. We look forward to working with IMAX in this successful model to accelerate the rapid expansion of China’s film industry in the coming years, bringing more blockbusters to Chinese audiences.

　　Mr. Zeng singled out the partnership between IMAX and Wanda for playing an important role in the June release of Hollywood blockbuster Warcraft, which was produced and distributed by Wanda Group’s legendary film studio and quickly broke box office records as well as sparking a cultural boom. Warcraft broke IMAX China’s first-day box office record with 35 million yuan ($5.30 million) after its release, and also set IMAX’s zero-point show and pre-sale records in China.

　　With today’s deal, IMAX has signed 284 theaters so far this year, including 229 in China, surpassing IMAX’s previous global record of 277 theaters in a year. The Chinese market accounts for about one-third of IMAX’s global box office revenue.

　　As of June 30, 2016, IMAX had 335 theaters in China, up from 250 in the same period in 2015. Despite the significant growth of the theater network and its presence in more than 100 different cities in China, IMAX’s single-screen average box office has remained steadily between $120 and $1.30 million over the past four years.

　　Earlier this year, IMAX announced four Chinese-language blockbuster summer collaborations, including Wanda Cinemas’ "Kuaishou Gunslinger," Anle Pictures’ "Chow Yun-fa’s" Chills 2, "kung fu superstar Jackie Chan’s fourth IMAX film," Jedi Escape, "and the 3D adventure blockbuster" Tomb Robbing Notes, "directed by Li Rengang and directed by LeTV Pictures and Shanghai Film Group. IMAX also plans to collaborate with" The Great Wall, "starring Matt Damon and directed by Zhang Yimou. In addition, the company is also exploring other potential collaborations, including" Journey to the West 2. "

　　"China is a rapidly growing market and Chinese moviegoers are increasingly demanding film technology and cinematic experience," said Zhang Yimou. "As a filmmaker, I want to do my best to provide the best experience for my fans and look forward to presenting my new work’The Great Wall ‘in IMAX format on IMAX’s growing cinema network."

　　IMAX plans to increase the number of Chinese-language film collaborations in China, with 8-10 Chinese-language films expected to be screened in 2016, including "Three Dozens of White Bones" and "Kung Fu Panda 3" released earlier this year. IMAX’s list of Hollywood blockbusters in China this year also includes "Bourne 5", "Star Trek 3: Beyond the Stars", "Fantastic Beasts and Where to Find Them" and "Doctor Strange". In addition, IMAX China and the Chinese Cultural Industry Fund announced the establishment of a film production fund to jointly invest in 15 Chinese-language films over the next three years.

　　In addition to Wanda Cinemas, Wanda Group also owns the AMC Cinema Line, which is IMAX’s first commercial cinema partner in North America and the largest IMAX cinema chain in the world. AMC is also currently the largest IMAX cinema chain in North America, with 185 existing and committed IMAX theaters.

　　The Beijing-Hangzhou Grand Canal is the longest and largest man-made canal in the world, and it is also one of the oldest canals. Together with the Great Wall and the karez, it is known as the three great projects of ancient China. It is a great project created by the working people of ancient China and is one of the symbols of Chinese cultural status.

　　About the Author

　　Jia Chuanjun, a native of Pizhou City, Jiangsu Province, born in April 1963, is a member of the Communist Party of China. He was conscripted into the army in September 1981. In March 1985, he participated in the self-defense counterattack of Laoshan against Vietnam with the 138th Division of the 67th Army of the Jinan Military Region and won a third-class merit. Now he is a member of the International Professional Photographers Association, a member of the China Photographers Copyright Association, a member of the Xuzhou Photographers Association of Jiangsu Province, a member of the Pizhou Photographers Association, a number of media contracted photographers, and a photography tutor at the University for the Elderly. The author loves the canal, dedicates the canal, takes the lock as his home, and serves the boat people after returning to work in the local

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　　The canal flows through the Emperor Gaozu of Han Liu Bang, Chu Bawang Xiang Yu, Wu doctor Wu Zixu, Huaiyin Hou Han Xin and other historical celebrities, there are many historical sites and places of interest; the entire basin simple folk customs, people’s character bold, affectionate and righteous, honest and trustworthy, open!

　　The navigation mark on the canal, which indicates the direction for the safe navigation of ships on the canal.

　　The world-famous Beijing-Hangzhou Grand Canal-Middle Canal crosses the territory of Xuzhou City. Its source starts from Taierzhuang in Shandong Province in the north, Huai’an City in Jiangsu Province in the south, and the whole journey is 186 kilometers long. It enters Pizhou City in the southeast of Taierzhuang, and crosses the southeast in the northwest. It passes through Tanshang, Fukou, and Canal Town to Suqian near Yaowan Town. Xuzhou City is 56.1 kilometers long, and there are tributaries such as Taogou River, Xisheng River, Bulao River, Diversion Road, Chenghe River, Guanhu River, Liubao River, and Fangting River along the coast.

　　The navigation mark on the canal, which indicates the direction for the safe navigation of ships on the canal.

　　The canal guards supervise the safety of ships sailing on the canal and enforce the law in a civilized manner to ensure safety and smooth flow.

　　Law enforcement officers of local maritime administration track and escort passing ships in bad weather. Ensure the navigation of ships and the safety of people’s lives and property, never forget the original intention, serve the people, and ensure that the lock machinery maintains a good operating condition.

　　The long dragons on the canal have made tremendous contributions to the country’s economic development.

　　The crew lives on board, and they are also the bearers of the intangible cultural heritage of the Grand Canal.

　　The construction ships on the canal, the Liushan pumping station in Xuzhou for the South-to-North Water Diversion, the construction of the waterway, the ferry… are the bridges that connect the families on both sides of the canal!

　　The ancient town of Yaowan next to the Beijing-Hangzhou Grand Canal-Middle Canal was built in the early years of the Tang Dynasty. It is known as the description of "looking at the sea in the east, looking at Pengcheng in the west, overlooking Huai Si in the south, and looking at Tai Dai in the north" and the reputation of "Golden Waterway Golden Triangle", "Northern Jiangsu waters win the Jiangnan" and "Little Shanghai". It is one of the main docks of the Beijing-Hangzhou Grand Canal. During the heyday of the Ming and Qing Dynasties, water transportation and maritime transportation were the key points for choking the north-south waterway. Most of the agricultural and sideline products in a radius of hundreds of miles were concentrated in Yaowan for shipment and long-distance transportation; cotton silk, matches, kerosene, food cigarettes and other daily necessities transported from the south to the

　　The power plant was built along the canal, contributing to the rapid economic growth on both sides of the canal.

　　The farmers living on the canal bank are versatile, and the labor scenes painted by themselves are vivid and vivid. The rice watered with canal water is particularly good, with white quality and fragrant taste.

　　The people living on both sides of the canal are particularly fortunate!

　　(Source/Canal Network)

As time goes by.

The news about iPhone 16 is getting more and more.

Because the appearance of iPhone has changed in recent years, it is just a small repair on the basis of iPhone 12.

Perhaps it was helplessness, or perhaps disappointment.

Ji Ge feels that everyone’s attention this year has focused on the imaging capabilities of the new iPhone.

Camera, stronger

In the previous inventory, Brother ****** mentioned it many times.

iPhone 16 Pro Max will feature a 48 million pixel 1/1.14-inch dual-layer transistor IMX903 custom main camera.

The final photo performance, can we fight with Huami OV and other real 1-inch outsole machines, although it is not easy to say.

But larger sensors will inevitably further enhance the paper strength of iPhone main camera.

However, this time, Apple has just embarked on the journey of super-bottom.

The domestic manufacturers that have taken the initiative do not plan to play with it.

I’m sure everyone has a feeling.

That is the main camera of the phone, at least from a physical perspective, almost to the end.

The current image flagship, in addition to the slightly different tone, has long been indistinguishable in terms of resolution and imaging quality.

In the past, everyone was struggling with who could shoot more clearly.

Now, everyone is competing to see who can shoot with more quality.

Coupled with the established thickness limit of the camera module, the main camera focal length had to be reduced from the previous 35mm and 28mm to 24mm and 23mm step by step…

Preview the body farther and farther inside the box.

Just like the "1x" lens, it is getting farther and farther away from "commonly used".

(35Mm | 28mm | 24mm)

Therefore, Brother Ji feels that rather than allowing mobile phone manufacturers to continue rolling in the main camera, it is better to raise the quality of other lenses, thereby increasing the average score of the entire camera image.

Looking at the Android side, they all began to pile up material in other lenses.

Here’s the good news.

Apple seems to have realized this and is willing to arrange for iPhone 16.

But here’s the bad news.

Apple is not upgrading the telephoto.

It’s ultra-wide-angle…

From the current revelations, Apple is likely to iPhone 16 Pro’s ultra-wide-angle lens, from the original 12 million pixels, to 48 million.

The previous year iPhone 14 Pro upgrade outsole, last year iPhone 15 Pro Max upgrade telephoto, this year iPhone 16 Pro upgrade ultra wide angle.

How to squeeze toothpaste every year.

Apple has always been okay.

As for why Ah Guo made a temporary move, he thought of upgrading the ultra-wide-angle lens that had no sense of presence in the entire ring in recent years.

It’s said that all of this is for that one function.

That’s right, it’s "Space Video".

Although shooting 4K video, only 9 million pixel resolution is enough.

But don’t forget, friends.

Now the 12 million-pixel ultra-wide-angle lens on the iPhone 15 Pro is digitally cropped and synchronized to the main camera’s field of view.

It is far from 4K resolution, which is 9 million pixel standard.

As we can see.

At present, iPhone 15 Pro, you can only shoot 1080p 30 frames of "space video".

After the iPhone 16 generation of ultra-wide-angle upgrades to 48 million pixels, it can form a dual 48 million system with the main camera.

Even if it has to be cut afterwards.

But it’s also enough to shoot higher-specification 4K space videos.

Therefore, it is foreseeable.

"Space video" will become the exclusive weapon of iPhone in the next era.

Coincidentally, the eighth brother, who was hiding under Brother Ji’s table, heard the words above and stuck his head out to express his disapproval:

"Brother Ji, the principle of shooting" space video "is not to borrow two parallel and adjacent cameras and use the parallax between the lenses to shoot?"

"Then, neither adjacent nor parallel iPhone number series, and how to pinch."

Camera, it’s vertical.

Look, when I asked you to study, you had to play glass beads, which exposed your IQ.

The mountain can’t come, I’ll go there.

You shoot diagonally, isn’t it over?

So…

Ahem, just kidding.

In order to popularize "space video" in the next system, if nothing else, iPhone digital series of cameras will also return to the previous vertical arrangement.

Just how to stand up, what to stand up like.

Is it back to the two big holes like iPhone 12, or back to the traffic lights like iPhone X.

So far, Apple has not had a clear answer.

Just 30 years in Hedong and 30 years in Hexi.

Apple’s design can really be described as "coming and going", arranged vertically, and actually came back so justifiably.

You see, it doesn’t bother him at all.

Brother Ji also has a no-prize quiz here.

If the fruit really adopts a vertical traffic light design similar to iPhone X.

You guys think.

Which wallgrass contestant will choose to follow up first?

The border is bent.

Go on.

In addition to the main camera and ultra-wide angle, both the iPhone 16 Pro and Pro Max will continue to use the 5X periscope telephoto.

In other words.

The iPhone that lost weight successfully last year will usher in the inevitable thickening journey at the end of this year~

It is said that in order to ensure the feel, the curvature of the screen edge of the new iPhone will become larger, which may eventually produce a similar effect.

The actual feel is unknown.

But the machine brother’s blind guess should feel similar to the Xiaomi Mi 14 Pro.

Since it comes to appearance.

Brother Ji recently saw a grapevine that Apple will also add a photo button dedicated to taking pictures on the iPhone 16.

At first, Ji Ge thought Apple was finally going to "fall" into the shape of Sony.

But when the machine brother read the full report, he felt jio.

Eh, something’s not quite right.

Fruit seems to really want to make iPhone into a camera…

Why would Brother Ji say that?

Don’t worry.

Do you think so.

First of all, it is reported that Apple wants to add "extremely advanced" touch adjustment to this button.

Specifically, the camera preview frame can be zoomed in and out by swiping left and right.

So this is a touch-activated version of the pulsator.

It’s not over yet!

In addition to sliding interaction, the button itself also supports mechanical pressing, which Apple has specifically divided into two pressing gears:

Tap to focus, and press hard to take a picture.

You see, isn’t this just a proper camera shutter button?

The Apple brand camera is just around the corner.

Although it is foreseeable that the addition of this shutter button will increase the usage of horizontal long videos and "space videos" to some extent.

But let’s just say.

Fruit, you have time to make room for iPhone to add a new button, and you are not willing to expand the battery a little more…

Performance, stronger

With the previous Pro version iPhone with the new U, the digital version iPhone with the previous generation U.

Apple has a strange conscience this year.

According to the news, the iPhone 16 series will use the A18 processor of the 3nm process.

It’s just a conscience, but not very conscientious.

An A18 chip.

Apple has released two versions of the A18 and A18 Pro.

The blind guess should be the same as before, using a full-blooded GPU on the Pro and a castrated GPU on the digital version.

It is not ruled out that there are also operations such as frequency reduction, peak limit, light chasing, etc.

Anyway, the final interpretation rests with Apple.

Anything is possible until iPhone 16 officially comes out in September.

But there is some good news.

That is iPhone 16 and 16 Plus will use 8GB random access memory in this generation because of the minimum memory threshold of the A18 processor, which is on par with the big brother Pro and Pro Max.

I didn’t expect it. I didn’t expect it.

In 2024, even iPhone collectively have 8GB of memory.

And Android manufacturers still have 8GB of fish that slip through the net.

Don’t laugh. It’s all about you.

Three stars!

Although the machine brother does not expect the new iPhone to be as amazing as iPhone 4s, iPhone 6, or lead the trend like iPhone X.

But as long as we can see iPhone steady and make up for the shortcomings a little bit, we can let our users see a few sincerity.

After all, it was spraying and scolding.

Fruit at least knows what we want, what we want to see, and what we want to use, and we make it up little by little.

Unlike the one next door.

No matter what Apple does, it just doesn’t cheat the poor.

And Samsung, even the rich are trapped.

It’s not for nothing that Samsung became Other at home.

Geely’s new generation of Galaxy OS 2.0 system will be launched in batches in late December, and the national high-speed/elevated high-precision map will also be opened in December, which means that the NOA high-level intelligent driving and piloting system on Boyue L can be used nationwide after this update. Then this program, follow our perspective to experience it first~

Smart car rim dynamic hotspot information

July has been a difficult month for Wang Jianlin. In the past month, Wang Jianlin and Wanda have frequently become the focus of public opinion due to a series of fire sale operations. Although the title of richest man has long been lost, the exposure has not diminished at all.

Wang Jianlin, chairperson of Wanda Group, sold his assets three times in a row under financial pressure, recovering a total of nearly 7 billion yuan. These assets include Wanda Film and Beijing Wanda Investment, and the transfer price is lower than the market price.

Wang Jianlin has sold assets three times in a row:

On July 10, Wanda Investment and Ms. Lu Lili signed the "Share Transfer Agreement". Wanda Investment transferred its shares of Wanda Film 180 million to Lu Lili, accounting for 8.26% of the company’s total share capital. The transfer price was 12.07 yuan/share, involving an amount of 2.173 billion yuan.

On July 17, Wanda Investment and its concerted action Shanxian Rongzhi signed the "Share Transfer Agreement", Wanda Investment transferred its holding of Wanda Film 177 million shares to Shanxian Rongzhi, accounting for 8.14% of the company’s total share capital, and the transfer price was 13.17 yuan/share, involving an amount of 2.331 billion yuan.

On July 23, China Ruyi announced that Shanghai Ruyi, a wholly-owned subsidiary of the company, acquired 49% of the shares of Beijing Wanda Investment Co., Ltd. (referred to as "Wanda Cultural Industry Group") held by Beijing Wanda Cultural Industry Group Co., Ltd. (referred to as "Wanda Investment") at a transaction price of 2.26 billion yuan.

After the transfer, Wanda Investment will be held 49.8% by Wanda Cultural Industry Group, 49% by Shanghai Ruyi, and 1.2% by Wang Jianlin. Wanda Investment is the controlling shareholder of listed platform Wanda Film, holding 20% of its shares. After the change of rights and interests is completed, Shanghai Ruyi indirectly holds a 9.8% stake in Wanda Film through Wanda Investment.

Transferring assets can only ease Wanda’s current cash flow problems. S & P pointed out that Wanda Commercial will face huge repayment pressure in the next 12 months.

According to public information, the current Wanda commercial management of 11 surviving bonds, the scale of 10.766 billion yuan, of which the scale of maturity within one year is 1.348 billion yuan. In terms of US dollar bonds, the current Wanda commercial management of 4 US dollar bonds, the scale of survival 1.70 billion US dollars, two of which total 1 billion US dollar bonds will mature within one year.

Industry insiders believe that the biggest risk for Wanda at present is whether it can go public. If Zhuhai Wanda Commercial Management cannot go public by December this year, according to the gambling agreement, Wanda will not only have to redeem 38 billion yuan, but also pay 12% interest. "

At present, China Chengxin International, Fitch, Moody’s and S & P have successively adjusted the rating of the joint stock company of Dalian Wanda Commercial Management Group.

In response, Wanda Commercial Management Group responded that the company’s operations are stable and its profitability is good. The company will strictly abide by the provisions and requirements of relevant laws and regulations, earnestly fulfill its information disclosure obligations, and remind investors of relevant risks on relevant matters.

Traffic information is broadcast every day, and at twelve o’clock in traffic, you can sort out the traffic and car information you need every day to protect your safe travel. Today’s main traffic information includes: Several Opinions on Promoting the Modernization Reform of Civil Aviation Statistics issued by the Civil Aviation Administration, blood donation organized by Shihuang Branch to help volunteer service, and the upgrade package of "5G Dana Intelligent Music Cockpit" added by Han EV flagship … Let’s learn about today’s traffic and automobile events!

First, traffic hotspots

The Civil Aviation Administration issued "Several Opinions on Promoting the Modernization Reform of Civil Aviation Statistics"

Recently, the Civil Aviation Administration issued "Several Opinions on Promoting the Modernization Reform of Civil Aviation Statistics". The development goal put forward is that by 2025, a modern civil aviation statistical system will be initially formed, the statistical investigation system will be more sound, the statistical methods and means will be more scientific, the statistical analysis services will be better, and the statistical system and mechanism will be more perfect. Looking forward to 2035, the modern civil aviation statistical system will be fully established, and the modernization of civil aviation statistical investigation system, methods and means, analysis service and governance capacity will be basically realized.

Second, Hebei Expressway Express

August 30 [Hebei Expressway Road Conditions] Today, the weather turned cloudy to thunderstorms. Shijiazhuang City, Handan City, Langfang City, Tangshan City, Cangzhou City, Qinhuangdao City, Baoding City, Dingzhou City: the limit number is 1 and 6. Beijing: Limit the tail numbers 1 and 6. (The measures to limit the number of counties and cities under the jurisdiction of restricted cities shall be subject to the release of the local traffic control department. )

Huangshi Expressway (G1811): Shitai section of Qingyin/Huangshi Expressway: The underpass of Nanxincheng Station was closed in both directions due to the construction at K318+233 to K318+700.

Taihang Mountain Expressway (S75): Xing-Han section of Taihang Mountain Expressway: Due to the heavy traffic, the two-way vehicles at K44+293 on the upper crossing of Xingtai West Station slowly pass for about 1km.

Shihuang Branch: Organize voluntary blood donation to help volunteer service.

Shihuang Branch combined voluntary service with the activity of "I do practical things for the masses", and organized the staff of headquarters and grass-roots units to carry out voluntary blood donation activities in sections in late August.

Before blood donation, the branch company made careful arrangements, actively publicized and created an atmosphere, initiated blood donation initiatives to employees, and informed them of blood donation instructions. When donating blood, everyone strictly follows the relevant regulations on epidemic prevention and control and unpaid blood donation. Under the guidance of blood station staff, check the health code itinerary, registration information, physical examination, blood test and blood donation, and the well is orderly and orderly. A total of 62 people in the branch signed up for blood donation activities, and 39 people donated blood successfully, donating a total of 12,600 ml of blood, which contributed to the society.

It is reported that since the blood donation activity was launched in 2016, Shihuang Branch has always adhered to the concept of "dedication and service" and organized more than 400 blood donations, which fully demonstrated the spirit of the branch as a "provincial civilized unit".

Third, traffic control traffic police

Traffic Police: bike-sharing enterprises express their condolences to the frontline traffic police and work together to build civilized traffic.

On the afternoon of August 26th, organized by China Communications Broadcasting Hebei Frequency FM101.2, representatives of Shijiazhuang Branch of Hellobike came to the traffic police squadrons in all districts of the provincial capital with caring materials to pay tribute to the traffic police comrades who have been struggling in the front line to maintain the traffic order in the provincial capital, thanking them for their hard work in traffic construction in the provincial capital, and hoping to actively undertake corporate social responsibility and create a more orderly, healthy and green travel environment for the provincial capital citizens by continuing to join hands with the traffic police on duty.

Hellobike donated 120 sets of daily necessities and 4,000 medical epidemic prevention surgical masks to squadrons in Qiaoxi, Xinhua, Yuhua and Chang ‘an. Zhu Lingling, the administrative manager of Hellobike Shijiazhuang Branch, said, "We are well aware of the hardships of front-line traffic police on duty, and thank them for sticking to their posts all the time. I hope that the materials sent can represent the concern and gratitude of all employees in Harbin to the provincial traffic police, and I also hope that they will not forget to take care of themselves when working."

Fourth, industry focus

Han EV flagship push "5G Dana Intelligent Music Cockpit" upgrade package

On August 29th, 2021, BYD brought DiLink4.0(5G) and the "5G Dana Intelligent Music Cockpit" upgrade package for the flagship of Han EV four-wheel drive high-performance version, which was officially listed at Chengdu Auto Show. The upgrade package of "5G Dana Intelligent Music Cockpit" includes four major upgrades: 5G Quick Link, HiFi customized Dana Audio, DiLink4.0(5G) and dual-frequency positioning navigation technology, and the price is 18,000 yuan. Before December 31st, users who purchase the flagship model of Han EV will be offered an upgrade package for a limited time of only 8,000 yuan, and will be given a 5G VIP listening package.

As the flagship car of China New Energy, BYD Han adheres to the concept of "customer first", constantly explores a new realm of intelligent luxury with leading technology, and continuously refreshes the user experience through functional iteration and configuration upgrade. The upgrade package of "5G Dynabar Intelligent Music Cockpit" is fully upgraded in communication technology, car audio, human-computer interaction and navigation technology, which will bring users a more intelligent and luxurious high-end experience and let users enjoy the most fashionable and fashionable smart car life.

The pre-sale is 102,900-140,900 yuan, and the Jietu X90 PLUS Chengdu Auto Show opens for pre-sale.

On August 29th, 2021, Chengdu Auto Show was grandly opened. Jetway Auto made its debut as an independent brand in the four domestic A-class auto shows, and launched the pre-sale of Jetway X90PLUS on the first day of the auto show, with a pre-sale price of 102,900-140,900 yuan.

At this auto show, Jietu X90 PLUS brought two power versions of 1.5T and 1.6TGDI, covering five models of houses, mansions, courtyards, villas and manors. From the name, we can see the intention of Jietu X90 PLUS in creating space and comfort.

Changan Auchan X7PLUS pre-sold 7.99-135,900 yuan and pushed 7 times as a popular gift.

On August 27th, Changan Auchan X7PLUS officially opened the global pre-sale, with an official pre-sale price of 79,900-135,900 yuan. The new car comes standard with a new generation of Blue Whale NE series engines, and there are 9 models with 1.5T+6MT and 1.5T+7DCT power combinations, as well as up to 6 body colors for users to choose from. Together with the pre-sale price, there is also the customer’s car booking rights of "7-fold popular gifts", which brings an ultra-high-value car buying experience far beyond users’ expectations.

As the first flagship PLUS model of Auchan Automobile, Changan Auchan X7PLUS has achieved advanced strength in five aspects: power, intelligence, face value, space and quality, and redefined the best choice of "150,000-class SUV" with the high-value configuration of "five leading industries, five leading peers, five pioneering industries and five standard systems".

57 leapfrog configurations, listed in Shijiazhuang, the 4th generation Emgrand of Geely.

On August 28th, "Emgrand, Walk with the Upward" Geely’s 4th generation Emgrand BMA champion car was officially launched in Shijiazhuang. This new car has launched four models with 1.5L-5MT and 1.5L-8CVT, and the official guide price is 69,900-88,900 yuan.

As the first car of Emgrand family born in BMA architecture, the 4th generation Emgrand has more beautiful body, more space, better comfort, more stable handling, higher quality and stronger technology, and it is advanced in all dimensions in terms of modeling, space, power, quality, technology and safety. The new car is equipped with 13 first configurations of the same class, 16 unique configurations of the same class and 28 leading configurations of the same class. It can be called a car with the highest quality-price ratio and the strongest sense of science and technology of 60,000-80,000 yuan.

Chaodong Rongcheng Great Wall Motor bombed the 2021 Chengdu Auto Show with five brands.

On August 29th, the 24th Chengdu International Automobile Exhibition officially opened. Great Wall Motor’s five vehicle brands, Haval, Tank, Wei Brand, Euler and Great Wall pickup truck, were assembled and debuted, and 12 new models were unveiled, demonstrating the new strength of global technology travel companies.

At the auto show, the booth of Great Wall Motor was bursting with popularity, and the users of the exhibition were bustling, moving Rongcheng with boiling posture.

Five, enjoy the book-today’s good book recommendation: "Wind and rain" edited by Liu Jianhui

Content introduction:This book closely follows the theme of seeking truth from facts and keeping pace with the times. From the perspective of the the Communist Party of China (CPC) Party Congress, it reviews and summarizes the glorious history and fine style of the Party, explores the reasons for the continuous development and growth of the Party, summarizes the valuable ruling experience accumulated by the Party for a long time, and focuses on the important significance of the previous party congresses in the political, economic and social development of China, as well as the international and domestic background and the influence on the historical process of China, highlighting the status and role of the previous party congresses.

According to the China Fund, the pace of capitalization of the new car-making forces has obviously accelerated, and this time it is Li Shufu’s turn to be a krypton car.

On February 13th, Geely Holding (00175.HK) announced in the morning that it issued and distributed about 139 million Series A preferred shares to five investors, raising a total of 750 million US dollars (equivalent to 5.09 billion RMB). Among them, Contemporary Amperex Technology Co., Limited (300750), which has invested in the Pre-A round, has increased its price again, which shows that it is optimistic about this new force.

After completing this round of financing, the valuation of Krypton has reached 13 billion US dollars (about 88.23 billion yuan). It is understood that this valuation amount also exceeds the valuation level before landing in the IPO of the US stock "Wei Xiaoli" in the early years. As early as the end of last year, Geely publicly announced that it planned to split the IPO of Extreme Krypton in the United States, and this new force in making cars is also expected to become the first new energy vehicle company listed this year.

Contemporary Amperex Technology Co., Limited participated in the second vote.

Extreme Krypton Automobile announced the first heavyweight financing of the new energy automobile industry this year. According to the announcement of Geely Holding, Extreme Krypton entered into a share purchase agreement with five investors on February 12. Accordingly, five investors agreed to subscribe and purchase from Krypton, and Krypton agreed to issue and distribute a total of 139 million Series A preferred shares to five investors at a total consideration of 750 million US dollars.

It should be pointed out that the investors participating in this financing are Amnon Shashua, founder of Mobileye Global Inc, Contemporary Amperex Technology Co., Limited, Yuexiu Industrial Fund, Trading Fund and Xin An Zhi Fund. According to Krypton, after the completion of this A round of financing, the valuation of Krypton is about 13 billion US dollars.

This amount also exceeds the pre-IPO valuation of the three new car-making forces "Wei Xiaoli" that have been listed in the United States. The highest valuations of the above three companies were about $6.4 billion, $8.6 billion and $8.8 billion before the US stock market was issued.

Judging from the institutions participating in this round of financing, Contemporary Amperex Technology Co., Limited is not only a long-term strategic partner of Krypton, but also an additional investment in this round to further deepen cooperation. As early as August, 2021, Contemporary Amperex Technology Co., Limited participated in the Pre-A financing of Krypton cars. In addition to Contemporary Amperex Technology Co., Limited, the participating institutions in this round include Yuexiu Industrial Fund, Trade Fund and Quzhou Trust An Zhi Fund. According to Krypton, the above three companies will help Krypton integrate its rich industrial resources and help it further expand in the upstream and downstream of the industrial chain.

According to the announcement, immediately after the delivery, Geely Holding will hold approximately 54.73% (calculated on the converted basis) and approximately 51.33% (calculated on the fully diluted and converted basis). Krypton will remain an indirect non-wholly-owned subsidiary of Geely Holding, and its financial performance will continue to be incorporated into the Group’s consolidated financial statements.

According to Krypton, the funds raised this time will be mainly used for research and development of Krypton products and technologies, global business development and user experience improvement. The company said that the five investment institutions have rich industrial resources in their respective fields, especially in smart driving, power batteries, innovative materials and high-end equipment manufacturing.

Or the fastest IPO case in the cost round

In March 2021, Extreme Krypton Automobile was jointly invested and established by Geely Automobile and Geely Holding Group. Geely has also given high hopes to the extremely krypton car.

The data shows that Krypton delivered a total of 71,900 vehicles last year, and completed the sales target of 70,000 vehicles in 2022 ahead of schedule in mid-December. According to the expectation of Geely Holding Group, by 2025, the sales volume of extremely krypton vehicles will reach 650,000, ranking the top three in the world in the market share of high-end electric vehicles. Moreover, the sales performance of Krypton is completely supported by the single model Krypton 001, so the annual sales of Krypton are quite valuable.

In terms of financing, Krypton Auto completed the Pre-A round of financing with a total of US$ 500 million from Intel Capital, Contemporary Amperex Technology Co., Limited, Bili Bili, Hongshang Group and Boyu Investment in August of that year. According to the financing situation at that time, the valuation of Extreme Krypton was about $9 billion.

In December last year, Geely Holding publicly announced that on December 7, 2022, Krypton submitted a draft registration statement for possible initial public offering to the US Securities and Exchange Commission on a confidential basis. The proposed spin-off currently includes two items, namely, the sale of krypton shares in the United States and the distribution of American Depositary Shares to shareholders in kind.

Earlier, it was reported that Krypton sought to raise more than $1 billion in the United States, with a valuation of more than $10 billion, which was higher than the valuation of $9 billion when it raised funds for the first time in 2021. However, according to the valuation of this A round of financing, this amount has far exceeded previous expectations. And this new car-making force was established only less than two years ago.

It is widely speculated in the market that Krypton will be listed as soon as possible in the second quarter of this year, so it is also considered to be the most likely car company to be listed first in this round.

Years of losses to accelerate financing.

Recently, the pace of capitalization of new car-making forces is accelerating. At the beginning of this month, Hezhong Automobile behind Nezha Automobile completed the shareholding system change, which was understood by the market as accelerating the IPO. Ai’ an, a subsidiary of Guangzhou Automobile Group, also explicitly called out the IPO in 2023.

These new forces have a common feature, that is, they are in a state of loss for years. Even "Wei Xiaoli", whose sales volume has climbed and gross profit margin has turned positive, has not yet achieved profitability under the continuous R&D investment and market layout. Ceng Qinghong, chairman of Guangzhou Automobile Group, once bluntly said, "Except for Tesla, all new energy automakers are losing money and have no money to earn. This is a consensus."

In 2021 alone, the loss of Ai ‘an, which has been valued at over 100 billion yuan, reached 1.389 billion yuan, with a year-on-year increase of 101.95%. In 2019 -2021, the losses of Ai ‘an were 621 million yuan, 688 million yuan and 1.389 billion yuan respectively, with a cumulative loss of 2.698 billion yuan in three years. In 2020, the net loss of Nezha Automobile reached 1.321 billion yuan, and in 2021, its net loss expanded to 2.908 billion yuan.

Krypton cars can’t escape this fate. According to the previously published financial report data of Geely Convenience, the revenue in 2021 was 2.868 billion yuan, and the net loss in the same period reached 1.01 billion yuan; In the first half of 2022, the revenue of Krypton was 8.828 billion yuan, and the net loss during the period was 759 million yuan. Since the establishment of the brand, the accumulated net loss of Krypton is nearly 1.8 billion yuan.

The gross profit margin of this new car-making force was around 5% in the first half of last year. The gross profit margins of LI, Xpeng Motors and Weilai were 22.09%, 11.55% and 13.8% respectively.

Original title: the valuation is nearly 90 billion! Li Shufu is on fire again, Ning Wang is overweight!

Editor: Zheng Yalan

Editor: Zhang Songtao

Audit: Feng Fei

foreword

Malignant multiple myeloma(multiple myeloma ； MM) is a kind ofwithMalignant disease characterized by massive proliferation of monoclonal plasma cells in bone marrow. B cell maturation antigen (BCMA) is highly expressed on the surface of MM cells. In the past few years, great progress has been made in various BCMA targeted immunotherapy for recurrent/refractory MM patients, including anti-BCMA monoclonal antibodies, antibody-drug conjugates (ADC), bispecific T cell binders (BITE) and chimeric antigen receptor adoptive T cell therapy (CAR-T). The 63rd annual meeting of American Hematology Society updated some information about the application of BCMA in MM, and based on this annual meeting, the related contents of this paper were sorted out [1].

Immunotherapy targeting BCMA: (1)ADC; 　 (2)CAR-T; 　 (3)BiTE;　

copywriter |　NING

BCell maturation antigen (BCMA)

Also known as TNFRSF17, it is a member of TNF-receptor family, and is called tumor necrosis factor receptor superfamily 17. This receptor is expressed on the surface of B lymphocytes and plasma cells, and is a marker protein of B lymphocyte maturation. Under physiological conditions, BCMA is mainly expressed in plasma mother cells and terminally differentiated plasma cells (PC). Under pathological conditions,BCMA Almost in all MM Tumor cell line (80%–100%) are expressed.The number of BCMA on the surface of malignant PC is much higher than that of conventional PC, which explains why BCMA target has become a battleground for major biological enterprises.

Monoclonal antibody targeting BCMA

SEA-BCMAIt is a new humanized non-fucosylation. IgG1 mAb. The working mechanism of SEA-BCMA may include blocking BCMA activation and its downstream proliferation signal pathway, regulating antibody-dependent cell phagocytosis and enhancing antibody-dependent cytotoxicity.

Its clinical phase I trial (SGNBCMA-001; The preliminary results of NCT03582033) show that it has good safety and combination potential: SEA-BCMA also shows encouraging treatment duration and initial anti-tumor activity in the advanced R/R MM population who have received a lot of treatment before.

Source: blood (2021) 138 (Supplement1): 2740.doi: 10.1182/blood-2021-146047.

Bispecific T Cell cement (BITE)

BiTEs can simultaneously target BCMA on MM tumor cells and CD3ε domain of TCR on T cells. After T cells are combined with myeloma cells, cytotoxic T cells can be activated and secrete cytotoxic factors, thus producing cell killing effect.This part is still in Ⅰ at present./Phase ii.

The following table summarizes the clinical data of bispecific antibodies against BCMA, among which the BiTE bispecific type of BCMA×CD3 is the most common.

Novel trispecific antibody drugs

Researchers are no longer satisfied with treating patients with R/R MM through dual-target therapy.HPN217, an extended half-life (median serum half-life:74 Hours) three specificity. T Cell activation construct (TriTAC)It simultaneously targets BCMA and CD3ε (redirected T cells), and adds serum albumin to prolong the half-life, which can exert cytotoxic effect on myeloma cells.Currently working onR/R MM of 1 /2 Phase I clinical trial for evaluation (NCT04184050). Here are some preclinical data.

Legend: HPN217 mediates the killing effect of autologous T cells of NCG mice on BCMA-dependent/primary MM cells.

Source: blood (2021) 138 (Supplement1): 1185.doi: 10.1182/blood-2021-151880.

CDR101(CDR-lifeCompany’s products)Is simultaneous targeting.CD3、BCMAandPD-L1The trispecific antibody,T cells can be induced into tumor cells expressing BCMA, and the immunosuppressive effect caused by the interaction between PD-L1 and PD-1 can be blocked at the immune synaptic site. Compared with BCMA × CD3 bispecific drugs, CDR101 leads to at least a tenfold increase in T cell-mediated tumor cell lysis, and performs better than the combination of PD-L1 inhibitor and BCMA × CD3 bispecific drugs.CDR101 It may become a new ready-made treatment, providing a more lasting response and a higher cure rate. CDR101 Has excellent drug-like characteristics, high stability and high stability.CHOHigh yield of expression.Based on these findings, new trispecific immunotherapy drugs have high clinical potential and promising clinical application [2].

Antibody drug conjugate (ADC)

After recognizing BCMA on the cell surface, ADC internalizes it into myeloma cells. Through the degradation of lysosomes or endosomes, the payload is released, causing cytotoxicity.

Belantamab mafodotin (GSK2857916)Is targeted by humanization.BCMA IgG1 andMMAF(tubulin polymerization inhibitor). Belantamab mafodotin was approved by the US Food and Drug Administration (FDA) in 2020 to treat patients with R/R MM.This is the first target approved for listing.BCMAimmunotherapy,A multicenter phase II clinical study (NCT03525678) confirmed that the recommended regimen for patients was 2.5 mg/kg, once every three weeks, but the toxicity of the drug was mainly manifested in thrombocytopenia and pericorneal lesions, such as microcystic epithelial changes or superficial punctate keratopathy. In addition to belantamab mafodotin, several other ADCs targeting BCMA, such as AMG 224, MEDI2228 and HDP-101, have also conducted many preclinical or clinical studies at different stages.

Legend: Incidence rate of adverse events caused by Belantamab mafodotin at 2.5 mg/kg and Q3W.

Antibody drug conjugate (ADC) joint test.

In the joint experiment, there are two schemes: belantamab+DEX (dexamethasone) and belantamab+DEX+POM.

belantamab(2.5 mg/kg Q3W) and DEX(20-40 mg Q1W,threeCycle) jointAfter use, the objective remission rate (ORR) was 46%, the complete remission rate (CR) was 14%, the median progression-free survival (PFS) was 4.9 months, and the median overall survival (OS) was 7.4 months. The incidence of AEs from high to low is anemia (83%), keratopathy (82%; Gr3/4: 56%), thrombocytopenia (70%) and so on.

belantamab+DEX+POMUnion ofIn the experimental scheme, the ORR was 88.9%(48/54), and the CR and PR rates were 24.1%(13/54) and 20.4%( 11/54) respectively. However, keratopathy (96.9%) was also the most common AE, and 56.7% of such patients had reached Gr 3/4. These two studies show that POM and DEX may have a positive effect on the curative effect of belantamab. howeverKeratosis is still a challenge in the treatment process.

Legend: Detailed rules and results of belantamab+DEX (Dexamethasone) joint trial scheme.

Source: Blood 2021; 138 (Supplement 1): 1642. doi: https://doi.org/10.1182/blood-2021-149791

CAR-Ttherapy

nowTwo CAR-T therapies based on BCMA have been approved for marketing.And is used for treating patients with multiple myeloma.

Source: "CAR-T therapy targeting BCMA"

7.1

Cilta-cel (Carvykti) for Orense injection.

Sidaki Orense injection(Cilta-cel,Carvykti) yes2022year2moon28Listed in China (NMPAApproved for listing/FDAFormal approval) targeting.BCMAofCAR-TCell products, jointly developed by Janssen and Legendary Bio, Legendary Bio owns 70% interests in Carvykti Greater China and 50% interests overseas.

In CARTITUDE-1 trial, the overall remission rate was 97%, the 18-month progression-free survival rate was 66%, and the 2-year progression-free survival rate was 61%. The 18-month overall survival rate is 81%, and the 2-year overall survival rate is 74%. Compared with similar products, this data is very gratifying. According to the latest news from Kingsley, the sales of the legendary BCMA CAR-T new drug Carvykti in the first half of the year was 24 million US dollars.

7.2

Abecma（Ide-cel）

2021yearthreemoon26Day,FDAapproveBaishimei SquibbAbecma(Ide-cel)be listedAbecma is also a BCMA-oriented CAR-T cell therapy, which is customized from patients’ autologous T cells. Clinical data show that the overall remission rate of all patients is 72%, of which the complete remission rate is 28%; Even for patients who have received various regimens, the remission rate of Abecma still reaches 72%, and this remission is very lasting, and 65% of patients are over 12 months.

Legend: preparation principle of Abecma

7.3

Iqalunsei injection

In addition, June 2, 2022Reindeer biology/Xinda biologyAnnounce BCMA CAR-T therapyIqalunsei injectionThe listing application was obtained.NMPAAccepted, it is expected to become the first domestic independent research and development of the whole process.CAR-Ttherapy. The clinical research data reported at the 63rd ASH annual meeting in 2021 showed that the overall remission rate (ORR) was 94.9%, and the complete remission rate/strict complete remission rate (CR/sCR) was 58.2%, showing the excellent safety and effectiveness of Iqalunsei injection.

Source: NMPA official website

7.4

The clinical trial of CAR-T therapy targeting BCMA is as follows

summary

Judging from the listing situation,Belantamab mafodotin (GSK2857916) is composed of humanized targeting BCMA IgG1 and MMAF (tubulin polymerization inhibitor), which is the first targeted BCMA immunotherapy approved for marketing. At present, there are two CAR-T therapies that have been put on the market, developed by Bristol-Myers Squibb respectively.Abecma(Ide-cel), developed in cooperation with Janssen)/ Legendary Biology.Sidaki Orense injectionFrom the data point of view, the latter effect is better, the ORR is increased from 72% to 97%, and other indicators are relatively better. On June 2nd, 2022, Reindeer Bio/Cinda Bio announced BCMA CAR-T therapy.Application for marketing of Iqalunsei injectionIt has also been accepted by NMPA, and it is expected to become the first CAR-T therapy independently developed in the whole process in China. Let us wait and see! From the therapeutic point of view, CAR-T therapy is at the forefront in terms of clinical data and market situation, but we can’t simply judge the advantages and disadvantages of these products. For example, better anti-BCMA CAR-T cell therapy requires more complicated preparation conditions and more expensive treatment costs, which are unbearable for ordinary families. Therefore, while continuing the existing research, it is necessary to study the potential mechanism affecting the curative effect in order to optimize BCMA targeted immunotherapy.

　 　

Legend: Comparison of clinical efficacy between different immunotherapy products targeting BCMA (see [1] for specific clinical data).

reference data

[1]Targeting BCMA to Treat Multiple Myeloma: Updates From the 2021 ASH Annual Meeting. Front Immunol. 2022 Mar 7; 13:839097. doi: 10.3389/fimmu.2022.839097. PMID: 35320942; PMCID: PMC8936073.

[2] Blood 2021; 138 (Supplement 1): 1583. doi: https://doi.org/10.1182/blood-2021-152160

[3] Blood 2021; 138 (Supplement 1): 1642. doi: https://doi.org/10.1182/blood-2021-149791

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McDonald’s and KFC are believed to be the memories of a generation of Chinese people.

Fund Jun remembers that when he first ate it, he traveled to Shenzhen as a child. At the first meal, he clamored for McDonald’s, because he had long yearned for it in front of the overwhelming TV advertisements at that time.

There is a joke that says: the first English letter learned by kindergartens or primary school students was basically not A, but M, the M of McDonald’s.

After the reform and opening up, McDonald’s is one of the first two "foreign fast food" from the United States to enter the China market. After more than 30 years in China, I finally sold China’s business to China people.

(The first McDonald’s restaurant in mainland China at the east gate of Shenzhen)

Let’s take a look at the opening of the first McDonald’s in China.

On October 8, 1990, the first McDonald’s restaurant in mainland China — — Guanghua Restaurant was grandly opened in Dongmen Commercial Pedestrian Street, Luohu District, Shenzhen.

The queue for buying fast food went from the third floor to the first floor of the restaurant, and then turned around the whole Guanghua several times. Many people from Shenzhen went to taste McDonald’s food with their families. The customers who came to watch the grand opening of McDonald’s restaurant packed more than half of Dongmen Commercial Street.

The number of employees serving the opening of the new restaurant is nearly 1000. In addition to the first batch of more than 400 employees in China, McDonald’s temporarily transferred more than 500 employees from the Hong Kong company to help.

Guanghua restaurant at that time could be settled in Hong Kong dollars or RMB. Unexpectedly, the front of the Hong Kong dollar settlement counter was crowded with Shenzhen people who were born and raised in Shenzhen. It is said that in order to come to McDonald’s to taste the fast food chain, they all prepared a sufficient amount of Hong Kong dollars in advance.

Yes, McDonald’s in China changed its name from "foreign" to "Chinese".

On August 4th, CITIC Hong Kong Stock Exchange announced that the acquisition of the controlling interest in McDonald’s business in China Mainland and Hong Kong was completed on July 31st. This will become the largest McDonald’s franchise business outside the United States, and the partners will operate and manage about 2,700 McDonald’s restaurants in China Mainland and Hongkong market.

CITIC announced on January 9th this year that CITIC, CITIC Capital Holdings, Carlyle Investment Group and McDonald’s, a subsidiary of CITIC Group, jointly announced that they had reached a strategic cooperation and established a new company. The new company will acquire McDonald’s business in mainland China and Hong Kong for a total consideration of up to US$ 2.08 billion (about HK$ 16.14 billion).

After the transaction is completed, CITIC and CITIC Capital will hold a total of 52% of the controlling shares in the new company, while Carlyle and McDonald’s will hold 28% and 20% respectively.

CITIC Group has a total of 176 companies with total assets of 2.1 trillion yuan, and its business involves finance, resources and energy, manufacturing, engineering contracting, real estate and other fields. In recent years, CITIC Group has also begun to lay out the consumption field. Just before the acquisition of McDonald’s China, Chunxin Capital, a subsidiary of CITIC Group, acquired 100% equity of Jianlibao Trade in the hands of Uni-President Group for 950 million yuan.

Quite simply, the good times in China market are gone.

Think about it, will you go to McDonald’s and KFC every day to solve the problem of eating?

The data shows that the market share of KFC and McDonald’s in China’s fast food industry has dropped from about 57% (40% and 17% for two brands respectively) to about 37% (24% and 13% for two brands respectively).

Unable to maintain high growth, the trick McDonald’s came up with to get out of the predicament is to sell its brand management rights in the China market for the next 20 years, including the management rights of 2,200 stores that are operating.

Both companies have obtained a lot of funds for this round of transactions, which will be an important source of their next investment from me. Both companies have a large number of restaurants waiting to be renovated — — No matter what kind of restaurant, young people want a more comfortable and fashionable dining environment. In order to find consumers in the fragmented market, they have to catch up with the trend of digitalization. These all need money, a lot of money.

Fund Jun did a search in Weibo. This kind of problem actually appeared.

Many netizens are asking:

Are there any cups, toilet paper, free wifi, ketchup and straws available for free?

You can’t get ketchup after that.

I just want to ask, when boycotting American goods in the future, should McDonald’s boycott [allow sorrow]

Can I go to McDonald’s to go to the bathroom in the future?

These strange questions can only be observed later.

Today, Fund Jun continued to talk about the development of overseas brands after Chinese capital acquired them.

On May 21st, 2012, Wanda announced the acquisition of AMC, the second largest cinema in the world, for US$ 2.6 billion. This is the first international merger of China’s cultural industry and Wanda’s total transaction amount is 2.6 billion US dollars, including buying 100% equity and taking on debt. According to the M&A agreement, after the completion of the merger, Wanda Group will take over 338 cinemas under AMC and operate AMC as its wholly-owned subsidiary, and at the same time inject no more than 500 million US dollars into it every year.

A masterpiece of Wanda’s overseas mergers and acquisitions is now caught in the dilemma of loss-making and layoffs. On August 2nd, AMC Entertainment Holding Company (hereinafter referred to as "AMC"), a subsidiary of Wanda Group, released its second-quarter performance forecast, with estimated revenue ranging from $1.2 billion to $1.204 billion, net loss ranging from $174.5 million to $178.5 million, and loss per share ranging from $134 to $1.36, compared with earnings per share of 24 cents in the same period last year. In the face of performance losses, AMC also indicated that it will cut costs through measures such as layoffs. However, under the situation that the global film market is relatively depressed, AMC faces greater challenges. For Wanda Group, the frequent performance difficulties of overseas assets are not conducive to the layout of Wanda Group’s global film and television industry.

In 2004, under the auspices of Yang Yuanqing, Lenovo acquired IBM’s PC business for a total price of 1.25 billion US dollars. This acquisition, which Lenovo called "snake swallowing elephant", made Lenovo become the third largest computer manufacturer in the world.

After the acquisition, Lenovo experienced a long run-in because of cultural conflicts and changes in management. Until 2008, Lenovo lost $226 million, and Lenovo CEO was changed from Amelio, who was originally from IBM, to Yang Yuanqing.

In the 12 months to the end of March 2017, Lenovo’s total revenue was $43 billion, a year-on-year decrease of 4%. It made a net profit of $535 million, but nearly 85% of it came from the income from selling houses in the past year. Other products, including personal computers, mobile phones and servers, contributed less than $100 million in profits.

In the past fiscal year, Lenovo’s PC business was not very good, facing the global environment of the fifth consecutive year of decline in shipments. And, although Lenovo’s market share as of the end of 2016 is still the first in the world, reaching 21.7%, the second-ranked HP has narrowed the gap from 1.8% to 1.3%. An important reason for the overall market search is that people don’t change computers as frequently as before: once in the past 3-4 years, now 5-6 years.

In October 2014, Lenovo Group acquired Motorola Mobility, with a total acquisition of about 2.91 billion US dollars, and Lenovo immediately became the third largest smartphone manufacturer in the world.

After the acquisition, nearly 3,500 employees from all over the world will join Lenovo, including about 2,800 employees in the United States.

Lenovo will adopt a dual-brand strategy, that is, the parallel strategy of MOTO and Lenovo. Moto will be a supplement to Lenovo’s high-end product line in China, and its product design, R&D and operation are completely independent.

Looking back at Lenovo Mobile’s strategy, it is widely believed that Lenovo failed to grasp the transformation of Internet mobile phones or the offline channel changes initiated by OPPO and vivo.

In terms of mobile business, the revenue of Lenovo’s mobile business group since 2014 decreased by 10% year-on-year to US$ 7.707 billion. Revenue outside the China market fell by 5.4%, and profit margin before tax fell by 1.9%. At the beginning of 2014, Lenovo still had the status of the second smartphone manufacturer in China, but in the past three years, its ranking dropped to ten, and it was overtaken by Huawei, Xiaomi, OPPO, vivo and other mobile phones.

On the morning of January 12th, 2016, the signing ceremony of Wanda Culture Group’s acquisition of American Legendary Pictures Company was officially held in Beijing. Wanda Group will acquire 100% of Legendary Pictures, a well-known Hollywood film and television production company in the United States, with a cash of no more than US$ 3.5 billion (about RMB 23 billion), which is also the largest cultural acquisition of China enterprises overseas. Thomas Tull, Chairman and CEO of Legendary Pictures, will remain in office and continue to be responsible for the day-to-day operation of the company.

One year after Wanda acquired Legendary Pictures, ThomasTull, founder, chairman and CEO of Legendary Pictures, announced his resignation.

On January 17, 2017, the American media "Hollywood Reporter" reported that Thomas Tour’s resignation was not voluntary, but was under pressure from Wanda. Wanda is dissatisfied with his management level and ability to operate the Great Wall, Pacific Rim 2 and other projects.

On January 19th, Dalian Wanda Group Co., Ltd. issued a statement saying that online media reported recently that Thomas, the legendary American CEO, resigned because of the failure of Great Wall. The report is unverified and seriously inaccurate.

On August 2, 2010, Geely Holding Group officially completed the acquisition of all the shares of Volvo Car Company, a subsidiary of Ford Motor Company.

When negotiating the acquisition of Volvo, Li Shufu met with Volvo engineers. The other party made a somewhat harsh request, asking him to explain in three words why Geely’s acquisition of Volvo is the best. The scene was a little tense, and the host tried to beat the circle. Li Shufu stopped him: no problem, I can answer, three words, very good, because, "IloveYou!" "

Seven years after Geely acquired Volvo’s passenger car business, the two sides plan to jointly enter the mid-to-high-end automobile market in the form of a joint venture.

On August 4th, Link Investment Co., Ltd. was established in Ningbo, Zhejiang. This is a three-party joint venture, with Geely Automobile Holdings Limited, Zhejiang Geely Holding Group and Volvo Car Group holding 50%, 20% and 30% respectively.

Many market participants are optimistic about the cooperation between Geely Automobile and Volvo. Ni Wei, an analyst at Everbright Securities, said in the research report that they are optimistic about the long-term cooperation between Geely and Volvo based on Lectra. "The company or its own brand will switch up one of the most certain targets." The research report predicts that the sales volume of the Lectra brand will reach 15,000, 150,000 and 300,000 respectively from 2017 to 2019.

In 2016, Haier Group announced on January 15th that it would acquire the home appliance business of General Electric (GE). The acquisition amount is $5.4 billion, which will take over the personnel of GE’s home appliance department and its business base in the United States. At the same time, it will also obtain intellectual property rights and "GE" brand, which will be used as a foothold for officially opening up developed countries such as Europe and America. GE and Haier also announced that they will establish a long-term strategic partnership and explore cooperation in industrial internet, medical care and advanced manufacturing.

On the evening of March 30, 2016, Midea Group announced that Midea intends to acquire 80.1% equity of Toshiba’s white goods business with its own funds of about US$ 473 million after negotiation between the two parties. With this transaction, Midea will receive 40 years of global authorization from Toshiba brand, more than 5,000 patents related to household appliances, and the markets, channels and manufacturing bases of Toshiba household appliances in Japan, China and Southeast Asia. However, Midea’s acquisition needs to undertake about $220 million in debt from Toshiba’s home appliances.

TCL Group, one of the pioneers in the field of household appliances in China, and Thomson Company, the fourth largest consumer electronics supplier in the world, formally signed an agreement in Guangzhou to reorganize their color TV and DVD businesses and form the largest color TV supplier in the world — — — TCL— Thomson electronics company. This is also the first time that China’s home appliance enterprises have merged the mainstream business of the world’s top 500 companies.

The total assets of the merger and reorganization of the two parties will exceed 450 million euros. TCL International Holdings will become the major shareholder of the joint venture company, accounting for 67% of the shares, while Thomson will hold the remaining 33%. The newly established joint venture company has more than a dozen production bases in Europe, America and Asia, with an annual sales of 18 million color TV sets, making it the largest color TV supplier in the world.

On June 21, 2016, Tencent announced that it had acquired 84.3% equity of Supercell after consulting with Finnish mobile game developer Supercell84.3% The transaction amount is expected to be 8.6 billion US dollars (about 56.6 billion yuan). Supercell is a game giant from Finland. As of March 2016, the number of daily active users (DAU) of its games has exceeded 100 million.

According to sources, any buyer of Supercell must agree to the condition that six founders control the company. The new owner can’t force an IPO or fire the existing management team. At present, Supercell has launched games such as Clash of Tribes, Cartoon Farm and Raiders of the Island for the global market. In contrast, Zynga, which has more mobile game products, has about 21 million daily active users, while Gameloft and Glu have about 19 million and 5 million respectively. King, the developer of Candy Legend, has more than 130 million daily active users. Among them, the "local tyrant game" and "clash royale", which are well known by netizens, were also developed by them.

Source: China Fund News (ID: China Fund News)

Reporter: Taylor