Bank card transaction limit adjustment method and related knowledge

In daily life, bank cards are used more and more frequently. However, bank cards usually have a certain transaction limit. This limit may need to be adjusted for various reasons to meet the different needs of individuals or enterprises.

First of all, the common ways to adjust the transaction limit of bank cards are as follows:

1. Handling at the bank counter: This is a more traditional and direct way. You only need to bring your valid ID card and bank card to the bank counter, ask the staff to adjust the transaction limit, and fill in the relevant forms and provide the necessary information as required. The staff will make corresponding adjustments for you after verifying your identity and needs.

2. Online banking adjustment: Many banks provide online banking services. You can log in to personal online banking and find the function of adjusting transaction limit in related settings or security management options. Different banks’ online banking interfaces and operating procedures may be different, but there are generally clear tips and guidance.

3. Adjustment of mobile banking: With the development of mobile finance, mobile banking has become the choice of more and more people. By downloading and logging into the bank’s mobile banking application, you can find the options for adjusting the transaction limit in the modules such as settings or security center, and follow the system prompts to complete the operation.

It should be noted that different types of bank cards, such as debit cards and credit cards, may have different ways and rules to adjust their transaction limits. At the same time, banks will have certain restrictions and requirements on the adjustment of trading limits.

The following is a comparison table of common bank card transaction limit types and adjustment methods:

In addition, the purpose of setting transaction limits by banks is mainly to ensure the safety of customers’ funds and prevent the loss of funds caused by theft and misoperation. Therefore, when adjusting the trading limit, you need to fully consider your own risk tolerance and actual needs and set the limit reasonably.

If you encounter problems or have any questions in the process of adjusting the transaction limit of bank cards, you can contact the customer service staff of the bank at any time, and they will provide you with detailed answers and help. At the same time, we should also pay attention to protecting personal bank card information and passwords to avoid risks caused by information leakage.

[Disclaimer] This article only represents the author’s own views and has nothing to do with Hexun. Hexun.com is neutral about the statements and opinions in this article, and does not provide any express or implied guarantee for the accuracy, reliability or completeness of the contents. Readers are requested for reference only, and please take full responsibility. Email: news_center@staff.hexun.com.

CCTV News:January 28th is the third day of Spring Festival travel rush in 2024 and the first Sunday after Spring Festival travel rush. Looking at the data in Spring Festival travel rush, next, let’s feel the travel fever all over the country through groups of data.　

First, let’s look at the situation on January 27th. About 12.2 million passengers chose to take the train on the first Saturday after Spring Festival travel rush in 2024.

In the first three days of Spring Festival travel rush, Beijing, Shanghai, Chongqing and Wuhan Xi ‘an ranked among the top five destinations.

According to the ticket sales data of 12306, in the first three days of Spring Festival travel rush, Beijing, Shanghai, Chongqing, Wuhan and Xi ‘an have been ranked among the top five destinations. Compared with the first day in Spring Festival travel rush, the number of arrivals in these five cities increased by 30% on January 28th, with the largest increase in Beijing and Shanghai, with the number of people increasing by 50%.　

Spring Festival travel rush in the Yangtze River Delta is busier today.

From the perspective of regional mobility, compared with the first day in Spring Festival travel rush, the number of passengers in Tianjin-Beijing, Hangzhou-Shanghai, Suzhou-Shanghai and Nanjing-Shanghai increased on January 28th.

Spring Festival travel rush in the Yangtze River Delta is busier. On January 28th, four of the top five busy routes were located in the Yangtze River Delta.

Harbin, Chongqing and Guiyang have become popular alternate ticket destinations.

According to the waiting ticket situation of 12306 data platform, Harbin has become the most popular waiting ticket destination at present. Harbin not only attracts southerners, but also Tianjin, Beijing, Guangzhou and Shenyang have the highest number of waiting tickets to Harbin. In addition, Chongqing and Guiyang are also popular alternate ticket destinations, and tickets from Guangzhou, Shenzhen and Dongguan to Chongqing and Guiyang are also very popular.

Here, we remind you once again that when choosing the standby ticket, increase the number of trains and accept the new trains, and the standby success rate will be higher.

It is estimated that the average mileage of driving across cities in China is about 145 kilometers.

Let’s look at the situation of self-driving travel. According to the forecast data of Gaode map, it is estimated that during the period of Spring Festival travel rush in 2024, the average mileage of driving across the city will be about 145 kilometers, up by about 15% compared with the same period in 2019.

The Yangtze River Delta and Pearl River Delta Chengdu-Chongqing area have a high degree of high-speed congestion.

Judging from the congestion mileage, the Yangtze River Delta and Pearl River Delta regions have a higher degree of high-speed congestion, followed by Chengdu-Chongqing region. The congestion mileage in Beijing-Tianjin-Hebei region is relatively low, and the high-speed congestion mileage in the Yangtze River Delta region and the Pearl River Delta region is about three times that in Beijing-Tianjin-Hebei region.

Guangzhou has the largest number of self-driving vehicles.

So, where do these self-driving cars leave and where will they go? According to the forecast of Baidu map, Guangzhou, Shenzhen, Suzhou, Chengdu, Beijing and Shanghai rank in the top, and Guangzhou ranks far ahead, about twice as much as the second Shenzhen.

Fuyang, Maoming, Shangqiu, Zhoukou, Bozhou and Shangrao have the highest number of net inflow vehicles and become popular destinations for self-driving.

The number of civil aviation passengers will reach a new high, and many airlines will increase their capacity.

According to the forecast, during Spring Festival travel rush this year, the number of passengers transported by civil aviation will reach 80 million, a record high. In order to meet the travel needs of passengers, many airlines have increased their capacity by adding encrypted routes and "small to large" models.

Air China plans to arrange 67,691 flights during its stay in Spring Festival travel rush, with an average of 1,693 flights per day, focusing on visiting relatives and returning home and increasing flights on tourist routes.

In addition, China Eastern Airlines plans to carry out 3,280 passenger flights every day during Spring Festival travel rush, up 42% year-on-year, and replace wide-body aircraft on Hongqiao and Pudong routes to Changchun, Shenyang and Harbin, as well as Haikou and Sanya routes. All its four C919 domestic large aircraft will also fly on the Beijing-Shanghai and Beijing-Chengdu routes.

China Southern Airlines plans to carry out more than 113,000 flights. In addition to the traditional Guangzhou-Shenzhen return routes to Central China, Southwest China and East China, the hot routes also open new routes to Guangzhou, Beijing Daxing, Shanghai, Shenzhen and Wuhan to Changbai Mountain and Ningbo to Harbin to meet the hot demand for ice and snow travel this year. About 800 overtime flights are arranged on the "ice and snow route".

Guangxi Nanning Airport strengthens convenience service to ensure passengers’ smooth travel.

On the one hand, airlines increase capacity investment to meet the needs of passengers. On the other hand, airports around the country are also ready to meet the large passenger flow, and various service measures are introduced to make passengers "walk well". During the period of Spring Festival travel rush, in order to facilitate the vast number of passengers, Guangxi Nanning Wuxu International Airport launched a series of warm-hearted and convenient services to ensure the smooth travel of passengers.

According to the forecast, the first travel peak of Nanning Airport is expected to appear on February 7 and 8, and the return peak is expected to be on the sixth, seventh and sixteenth day of the first month. In order to ensure the smooth travel of passengers, Nanning Airport has launched a series of convenience service measures.

Li Zhihui, Deputy Manager of Passenger Transport Section of Nanning Airport Ground Service Department:For passengers who transfer at Nanning Airport, we also provide hands-free service for cross-airline luggage from domestic to domestic and from domestic to international. At the same time, we can enjoy free accommodation, free light meals, free airport buses, and make an appointment for a sharp turn for qualified transit passengers at Nanning Airport.

In areas such as check-in, security check-in, boarding gate, etc., Nanning Airport is equipped with priority passages. Nanning Airport will also provide corresponding assistance for passengers who are on the first flight, have communication difficulties, children and the elderly, and arrive late.

Henan: During Spring Festival travel rush, it is estimated that over 640 million people will travel to a new high.

Next, let’s take a concrete look at the situation in Spring Festival travel rush, Henan Province. During Spring Festival travel rush in 2024, the number of tourists in Henan Province is expected to exceed 640 million, a record high. All local departments have made concerted efforts in the fields of travel service, traffic guarantee, people’s livelihood guarantee and supply, and continuously improved transportation capacity and optimized service quality to ensure smooth travel in Spring Festival travel rush to the maximum extent.

In 2024, Spring Festival travel rush will be the first Spring Festival travel rush after the completion of the Mi-shaped high-speed railway in Henan. In view of the strong travel demand of Spring Festival travel rush passengers, Zhengzhou Station has added 140 trains to Beijing, Shanghai, Guangzhou, Xi ‘an and Chengdu at night. At the same time, in order to facilitate passengers in the province, 52 trains will be added from the province to Nanyang, Zhoukou, Puyang and Luoyang to meet the travel needs of passengers to the greatest extent.

At the same time, in order to ensure the traffic in Spring Festival travel rush, more than 2,600 buses have been prepared at Zhengzhou bus stations, and 58 customized lines have been opened from Zhengzhou to Henan.

In terms of aviation, during the period of Spring Festival travel rush in Zhengzhou Airport, there were 566 daily passenger flights and 78,000 daily passengers. At present, the airlines have encrypted flights for return flights and popular tourist routes, mainly focusing on the return hot routes from Zhengzhou to Guangzhou, Chengdu and Urumqi, as well as the tourist hot routes from Zhengzhou to Haikou, Dalian, Hainan and Bangkok.

　　CCTV News:Two days ago, CCTV News Channel reported that many short videos and live broadcast platforms pushed and broadcast the news of minors’ love, pregnancy, childbirth and other chaos, which aroused widespread public concern.

　　The reporter found that the live video broadcast in these platforms not only ignored ethics, but even touched the bottom line of the law. There are hidden chaos in these video platforms, such as infringing on the rights and interests of minors, and the number of participants is huge and young.

　　We noticed that some mothers in the video are under 16 years old, but they are drying their two children on the Internet. Some underage mothers have plastered their walls with testimonials, but they have already given birth to children; Other girls are only 14 years old when they are pregnant. What touches us even more is that these are not extreme cases.

　　On some short video platforms, there are tens of thousands of similar videos. Although China’s Marriage Law clearly stipulates that marriage is not protected by law until it reaches the legal marriage age of 22 for men and 20 for women. However, in such an online social circle, young children not only don’t need to hide, but become the capital to show off and bring more attention to themselves. Let’s first look at the previous reporter’s investigation.

　　The 17-year-old girl has two children and 50,000 fans, and her works often make official hits. On the cover of every video, she will take pains to emphasize that she has many babies and is early to be a mother. Facts have proved that "14-year-old puppy love gave birth to a son" and "the youngest second-born mother in the whole network" have 300,000 to 400,000 broadcasts.

　　The reporter found that most of these underage mothers live in rural areas or small towns, and they drop out of school early to have children, often in marriage. They are narrow in social contact, monotonous in life and eager for attention. When they found that on such a hot video platform, they could attract attention by strengthening the attributes of younger mothers, they set off a wave of striving to be "the youngest mother in the whole network" and "the youngest mother in the whole village". A 15-year-old mother changed her name to "having her own cuteness at the age of 14" and was proud of it.

　　Facing the current situation of frequent violations of laws and regulations in webcasting, on the 2nd, the Ministry of Culture and Tourism announced that in order to implement the unified deployment of Publicity Department of the Communist Party of China’s special campaign to strictly regulate the online game market and the action to rectify violations of laws and regulations in webcasting, the Ministry of Culture and Tourism strengthened the supervision of the online cultural market, strictly investigated the prohibited contents of online games, online performances and online music markets, and instructed comprehensive law enforcement agencies in various cultural markets to investigate and deal with a number of typical cases in the online cultural market. The special action will strictly investigate five types of behaviors, including online games with gambling content, online games with vulgar content, online games that do not require real-name registration, inducing consumption by random means, spoofing red classics and heroic videos, and online performances with prohibited content.　

　　Then, how on earth did these underage mothers become official hot spots by the pusher behind them, thus becoming "online celebrity" and getting tens of thousands to hundreds of thousands of broadcasts? There is a very important technical link behind this, which is the intelligent recommendation function in the background of each platform.

You may not have seen the film, but you must have heard it.This song.

There is quite a sad feeling.

Many people have probably had such a moment when they need to choose.

Just like Ah Kan, a friend recently graduated, and almost formed a daily question:Am I staying in Beijing? Or go back to your hometown?

There is no way to answer this question. Because it’s too heavy!

After all, no matter which one you choose, there is no guarantee that you will not regret it.

But Ah Kan undoubtedly admires those dream catchers who are willing to go to other places for their dreams.

Reminiscent of "500 miles" in the movie[drunken folk songs]The scene that sounded-

In the darkness of the audience, there is a musician who is down and out in all kinds of ways.

He has been floating in Greenwich Village, new york all his life, and has never made a big splash.

But everyone who has wandered between ideal and life can also feel a little "divine" light in him.

01

In the 1960s, the eve of Bob Dylan’s era.

Loser, a folk singer, carried a cat named Ulysses from new york to Chicago, and then back to new york, running around and doing nothing.

His name is …Levine Davis(oscar isaac).

The opening picture of this film is an antique microphone with a faint light.

In today’s "Gaslight Cafe", which is famous for its music history and approachable at that time, Levine played and sang with a vicissitudes of life.Twist me, oh twist me：

"God, I’m so hungry that a straw can cover me up."

Strong feelings, almost tears.

This is also the first flaw in the film’s ten complete folk performances. Divided by music and story, the Cohen brothers don’t have to play surreal tricks, so they divide the film intoTwo parallel worlds.

The music world is refined and pure, and the art is rich, just like tom hooper’s [Les Miserables], which adopts the recording in shooting (except for the quartet);

The story world is full of absurdity, bad luck, swearing and incompetence, and Kafka style is close to [serious man] and [barton fink] in Cohen’s works (Palme d ‘Or Award in 1991).

At the end of the song, Levine was called to the back street, and was held by a gloomy man in a hat with an old fist.

This mysterious episode is repeated at the end of the film, symbolizing a reincarnation.

Many people say that [Drunk Hometown Folk Song] is a "Song of Lu Se".

After all, the folk poet in the film never wakes up in other people’s beds in the morning, and then moves from one sofa to another.

In winter, there is no decent coat. Long-distance travel relies on shrinking in the street to stop the car, taking the subway for a short distance, dragging the guitar box wherever you go;

When you run out of ammunition and food, you should think about your parents’ property, or go to sea as a sailor for a while.

Folk singer Zhao Lei sang in his "People": "I am just a poor boy, and my life is as simple as a stone."

This has almost become a common state of existence for folk musicians.

But rather than saying "loser", I prefer to say that Levine is an obviously inappropriate person.

Although Levine’s affectionate performance was cheered by the audience, the songs that can sell well in this complicated world are always vulgar songs that he disdains.

He disdains these catchy songs, and even more disdains being able to resonate with the audience. He never compromises in art.

When the couple who provided his sofa invited him to sing a song at the dinner table, Levine was sensitive that his career was looked down upon.

"I am an artist, not for your entertainment!" In a word, almost "ruined" the friendship between the three people.

I went to the club in Chicago for an interview. After a song, the manager replied bluntly, "It won’t sell much.".

This "closing statement" that broke the hearts of the audience, Levine did not struggle too much and even refused the invitation to join the choir.

No wonder the girl he got pregnant called him "Midas’ stupid brother"! Midas has a touch of gold, which turns everything into gold, but his stupid brother turns everything into garbage. )

His disdain and intransigence, like black humor, filled the film, making the audience feel ridiculous and deeply sad.

02

[Drunk Hometown Folk Songs] was released that year, which broke many people’s expectations.

Because before the screening, I only heard the folk musicians who paid tribute to the 1960s, but after watching it, I realized that it neither faithfully restored the history of folk music, nor was it a masterpiece that made a biography for real people.

It reminds people of [a generation of masters]: under the banner of restoring the Wulin of the Republic of China, I talked about the emotional life of several people.

But the Cohen brothers are not as crazy as Wong Kar-wai, and Wong Kar-wai is not as black and humorous as the Cohen brothers.

There are not many masters here, only one star is not full.Dave van rank(Dave Van Ronk) is the prototype.

In the end, Levine, born out of the womb, is a complete loser and "bastard" completely different from the prototype.

The film was undoubtedly inspired by Van Locke’s biography The Mayor of McDougall Street.

The title of the film is "Inside Llewyn Davis", which is taken from a record named "Inside Dave Van Ronk" by Van Locke.

Levine’s unsold vinyl album jacket is almost the same as Inside Dave Van Ronk.

There is a cat in the lower right corner of the album jacket, and the cat is the story point that runs through the whole movie.

At the beginning of the film, Levine sang "Twist Me, Oh Twist Me", which is also from the album Van Locke.

But beyond that, it’s hard to find the "Van Locke" part of Levine.

Van Lok himself is big, enthusiastic and loves reading and cooking. Because of his unique position in Greenwich Village, Jianghu people call him "Village Chief Fan".

It is rumored that he is the teacher of Bob Dylan, the "king of folk songs", who once called him.The supreme ruler of Greenwich Village.

Bob Dylan and Van Locke

In the movie, Levine and Bob Dylan also had a "side".

When Levine was beaten up, the singer on the stage of the pub was singing a song "Farewell", using Dylan’s signature original.

However, like every music trend, winners are often not pioneers.

Van Locke, the forerunner, "got up early and caught a late episode", never made a big splash in the end.

However, the film almost borrows half a history of folk songs, from 500 Miles and Farewell to Dink’s Song, and then to the soundtrack of The Last Thing in My Heart.

The first classic, the first palace level.

In this way, the Cohen brothers, who are good at paying attention to the losers, completed their bow to Van Lok.

Plus the excellent photography of this film-this is the first time that French photographer Delbon Nell has cooperated with the Cohen brothers.

Large-scale use of soft light, but it brings more and more bleak in winter in new york.

And some creative lighting, such as the lighting in the back alley of the opening bar, such as film noir, and the green in the rest station bathroom like an illusion, are impressive.

"Farewell, my dear," sang Farewell at the end of the film.

It’s like telling the end of an era. After tonight, the trend of history turns.

The bruised Levine only half-jokingly said "au revoir" ("goodbye" in French).

But he is not an outcast of the times.

Inside the decadent skin, there is some divine glory, and his pursuit is above the times.

He will be remembered.

03

[Drunk Hometown Folk Songs] There is a scene of burning the midnight oil, which is very Cohen-style black.

Driving in a snowy night, Levine almost ran into a cat. The daily situation took a poetic texture and an out-of-body experience.

Can’t help but remind Ah Kan of movies.[Killed a sheep]Chinese Tibetan manKimbaru hit the lamb and killed in his dream.The mysterious fantasy.

Strangely enough, similar to the head-to-tail occlusion of [drunken folk songs], [killing a sheep] also has a closed-loop structure.

I have to talk about this director.

Like Levine, director Pema Tseden is a very simple and pure person.

He was born in Jiuna Village, Guide County, Qinghai Province, which is located in Amdo Tibetan Area, one of the three major Tibetan areas (Tibetan areas are generally divided into Amdo, Kangba and Weizang).

Since then, Pema Tseden’s creation has always been rooted in this fascinating hometown.

Singing in the song: "Lord I’m five forgotten miles away from home. "

And Pema Tseden once left home for thousands of kilometers, and ran to the distant Beijing to pursue his movie dream.

To this end, what he did was even a sensation in his hometown-he resolutely quit his enviable local public office job.

Although I don’t know whether I can be admitted to the university, I just want to go and cross the rubicon for my career and dreams.

From Qinghai to Lanzhou and then to Beijing, he is getting farther and farther away from his hometown in physical distance.

But psychologically, he has never been far from his hometown.

Over the years, I have written novels and made movies, from [Quiet Rock] and [Tallow] to [Killed a Sheep], and then to the latest work [Balloon] to be released soon.

[Balloon] was shortlisted for the horizon unit of the 76th Venice Film Festival, which will be shown nationwide next Friday, November 20th.

These stories are all about Tibetan areas without exception.

On the street of Zhongguancun, Beijing, I saw a balloon floating in the air, wobbling and not knowing where to go.

The director’s thoughts can drift to his hometown thousands of miles away.

In the [balloon], the balloon became a condom representing fertility. The conflict between Tibetan women’s choice of reproductive rights, beliefs and reality is thus presented to us.

Pema Tseden has the same "inappropriate" part as Levine.

Just like when [Killed a Sheep] was released in 2019, it was just catching up with the tight schedule of [Avengers 4]. Everyone is sweating for "a sheep".

Pema Tseden is calm, don’t withdraw!

Because he believes that art films still have their own audience.

The film has been filmed for more than ten years, and the director has never given up creating films for his own people. He has a deep love for the Tibetan area where magic and reality are intertwined.

In a flashy place, 108,000 miles have passed, and he still has his original heart and is pure.

What kind of story will happen if such a Pema Tseden is allowed to watch [Drunk Hometown Folk Songs] with us?

Look at this week.Now movie APPofMovie FUN screeningThe seventh issue of columnDream of 500 miles away from home, will realize the gentle collision.

Monday, November 16th at 18:45.Director Pema Tseden will come to the current movie APP, join the online cinema and watch it with us.[drunken folk songs].

half past eight p.m.He will also meet with you after the screening and share the movie story.

Now scan the QR code, and you can reserve the location of the cinema.

How will a wanderer who leaves home treat another persistent dream catcher?

Scan the QR code, a live broadcast that can’t be missed!

Fan welfare

Welcome to interact with us in the message area.

Talk about your expectations for [balloons]

According to the quality of the message, we will

be carefully chosenonestripQuality review

Send a poster and a novel signed by Pema Tseden.

(The physical object is shown in the picture)

Plagiarists or fans will have no right to participate in any welfare activities.

The deadline is November 18th at 22:30.

The final interpretation of this activity belongs to Ben WeChat official account.

Pay attention to the current movie APPlive broadcast studioMore live events will be sent on the same day.Welfare goodie bag: Wanma signature film poster, Wanma signature film novel collection of the same name, and canvas bags around the film now.

　　Cctv newsAt 10: 00 am on May 18th, the State Council Press Office held a series of press conferences on the theme of "Opening by Authorities", introducing the situation of "Implementing the Party’s 20 Major Decisions and Deploying Efforts to Promote the High-quality Development of Medical Insurance" and answering reporters’ questions.

　　Hu Jinglin, director of the National Health Insurance Bureau, introduced that in 2018, the CPC Central Committee with the supreme leader as the core made a strategic decision to set up the National Health Insurance Bureau. Since its establishment, the national medical insurance system has closely revolved around the great political mission of "relieving all people’s worries about diseases and medical care" entrusted by the Supreme Leader General Secretary, and has always adhered to the people-centered principle, overcome difficulties and pushed forward the reform of the system and mechanism, and promoted the historic leap of China’s medical insurance cause, which has played an important role in alleviating the difficulties and expensive medical treatment for the masses, supporting the development of medical and health undertakings, maintaining social harmony and stability, and promoting the realization of common prosperity.

　　In the past five years, we have adhered to the principle of stability and improved the world’s largest basic medical security network. From 2018 to 2022, the national population participation rate will be stable at about 95%, and the reimbursement rate of hospitalization expenses within the scope of employee medical insurance and urban and rural residents’ medical insurance policies will reach about 80% and 70% respectively. The participation rate of rural low-income population and poverty-stricken population has stabilized at over 99%, and medical insurance has helped nearly 10 million poor residents successfully get rid of poverty. The total annual income of the basic medical insurance fund (including maternity insurance) increased from 2.14 trillion yuan to 3.09 trillion yuan, and the total annual expenditure increased from 1.78 trillion yuan to 2.46 trillion yuan. The fund operated smoothly and had a balance. The annual per capita subsidy standard for residents’ insurance payment is increased from 490 yuan to 610 yuan. In 2022 alone, the total financial subsidies will reach 600 billion yuan.

　　In the past five years, we have adhered to the principle of benefiting the people and made efforts to reduce the burden of medical treatment for the masses. Accelerate the pace of medical insurance negotiations, and promote a large number of exclusive varieties of anticancer drugs and drugs for rare diseases, such as Karelizumab and Nocicina, to be included in medical insurance at appropriate prices. In addition, after reimbursement, the cumulative burden of patients has exceeded 500 billion yuan, helping tens of millions of seriously ill patients and their families rekindle their hopes of life. Promote centralized procurement, and the average price reduction of 333 drugs organized by the state is over 50%, and the average price reduction of 8 high-value medical consumables such as heart stents and artificial joints is over 80%; Together with local alliance procurement, the cumulative burden reduction is about 500 billion yuan. We will reform the way to protect residents from chronic diseases, and include outpatient drugs for hypertension and diabetes in the scope of residents’ medical insurance, benefiting 140 million residents with chronic diseases. Continue to open up the bottleneck of medical treatment in different places, and the scale of direct settlement of medical treatment in different provinces has increased from 1.318 million in 2018 to 38.1235 million in 2022, an increase of 28 times. In view of the epidemic situation in COVID-19, we will resolutely implement the "two guarantees" policy, and guarantee the vaccine and vaccination expenses in COVID-19, so as to contribute to the medical insurance for a major and decisive victory in epidemic prevention and control. Continuously expand the pilot scope of long-term care insurance, which has covered 169 million people in 49 cities and benefited 1.95 million disabled people, making their lives more quality and dignified.

　　In the past five years, we have been driven by innovation and promoted the high-quality development of the pharmaceutical industry. Encourage industry R&D and innovation, and establish a medical insurance access and negotiation renewal mechanism with new drugs as the main body. The waiting time for listing new drugs into the medical insurance catalogue has been shortened from the past average of nearly five years to less than two years, and some new drugs have been included in the medical insurance catalogue only half a year after listing. The expenditure of medical insurance on new drugs increased from 5.949 billion yuan in 2019 to 48.189 billion yuan in 2022, an increase of 7.1 times. Expand the sales channels of negotiation drugs, and through the "dual-channel" management mechanism, some medical insurance negotiation drugs that were originally supplied mainly in large hospitals can now be sold in 155,000 designated medical insurance pharmacies nationwide and included in medical insurance reimbursement. Purify the ecology of the pharmaceutical industry, institutionalize and normalize the centralized procurement with quantity, continue to squeeze the inflated price of pharmaceutical consumables, and "take the bottom out" to reduce the space of "selling with gold". The innovation power of pharmaceutical companies is getting stronger and stronger. Among the top 10 pharmaceutical companies with A-share market value, the total R&D investment in 2022 is 2.48 times that in 2018.

　　In the past five years, we have adhered to system integration to help the coordinated development and governance of the "three doctors". Support the improvement of the compensation mechanism for medical staff, and clarify that the surplus funds formed by public medical institutions in the reform of centralized procurement and medical insurance payment methods can be used as a whole for personnel salary expenses. Reform the fund disbursement mechanism, establish a turnover system of medical insurance funds in most overall planning areas, and prepay medical insurance funds to medical institutions at the beginning of each year, thus reducing the pressure on hospitals to advance funds. We will comprehensively establish a dynamic adjustment mechanism for the price of medical services. While substantially reducing the price of pharmaceutical consumables, we will appropriately adjust the prices of hospital services such as surgery and traditional Chinese medicine, which reflect the value and ability of technical services, and support the high-quality development of public hospitals. Actively support the development of primary medical institutions, and guide patients to buy medicines and enjoy health management services at the primary level by increasing the proportion of reimbursement for primary medical treatment and reducing the deductible line for primary medical treatment. Forging a strong and temperature-sensitive medical insurance fund supervision sword, handling 1.543 million illegal medical institutions, recovering 77.13 billion yuan of medical insurance funds and exposing 245,000 typical cases; Medical institutions that take the initiative in self-examination and self-correction shall be lenient in accordance with the law and vigorously promote the norms of diagnosis and treatment.

　　Generally speaking, in the past five years, through the coordinated development and governance of medical insurance, medical care and medicine, a win-win situation of "people enjoy benefits, funds ensure safety, hospitals develop and enterprises grow" is taking shape.

　　Cctv news: According to the message of "Healthy Shanghai 12320" on WeChat WeChat official account, the Spring Festival holiday in 2023 is coming soon. Xiaobian collected the holiday arrangements for outpatient and emergency departments of tertiary hospitals in this city (some hospitals need to update their holiday arrangements). Please tell each other if you are prepared!

　　PS: The information is for reference only, subject to the actual arrangement of each hospital.

　　Zhongshan Hospital Affiliated to Fudan University

Zhongshan Hospital Affiliated to Fudan University Qingpu Branch

Huashan hospital affiliated to Fudan university

Obstetrics and Gynecology Hospital Affiliated to Fudan University

Fudan university affiliated tumor hospital

Shanghai Proton Heavy Ion Hospital

Pediatric Hospital Affiliated to Fudan University

Eye, Otolaryngology Hospital affiliated to Fudan University

Jinshan hospital affiliated to Fudan university

ruijin hospital, shanghai jiao tong university school of medicine

You can make an appointment in advance by any of the following appointment methods:

　　1. On-site appointment: appointments can be made at the convenience service center on the first floor of the clinic and the nurse desks on all floors.

　　2. Appointment between clinics: Ask the doctor to help make an appointment for the next follow-up visit in the clinic.

　　3. Self-service appointment: self-service appointment of self-service machines on all floors of outpatient service.

　　4. Telephone appointment: Call 96886 (Shen Kang Medical Union Platform) to make an appointment.

　　5. Mobile reservation: scan the QR code, pay attention to WeChat WeChat official account "Ruijin Hospital Clinic" or search Alipay life number/applet "Ruijin Hospital affiliated to Shanghai Jiaotong University School of Medicine", and make an appointment on the mobile terminal after binding the card.

　　6. Community appointment: contracted residents can ask the family doctor of the community health service center to help make an appointment.

　　7. Appointment of discharged patients: When discharged from hospital, the bed doctor can help to make an appointment for outpatient follow-up time.

　　renji hospital ,shanghai jiao tong university school of medicine

　　During the Spring Festival in our hospital, the outpatient service arrangements are as follows (unified in the east, west, south and north):

Note: 1. Daily outpatient service will be resumed from January 30th;

　　2. Emergency and fever clinics are open 24 hours a day;

　　3. Internet hospitals are open as usual.

　　Xinhua Hospital Affiliated to Shanghai Jiaotong University School of Medicine

Chongming Hospital Affiliated to Shanghai Health Medical College

The Ninth People’s Hospital Affiliated to Shanghai Jiaotong University School of Medicine

Shanghai Children’s Medical Center affiliated to Shanghai Jiaotong University School of Medicine

　　Dear parents,

　　In order to meet the medical needs of children, during the Spring Festival, outpatient clinics in our hospital were kept open, emergency and fever clinics were opened 24 hours a day, and Internet hospitals were opened as usual. From January 21st (New Year’s Eve) to January 27th (sixth day), the outpatient service is arranged as follows. On January 28th and 29th, the clinic will be opened as usual:

Longhua Hospital Affiliated to Shanghai University of Traditional Chinese Medicine

Shuguang hospital affiliated to Shanghai university of traditional Chinese medicine

Yueyang Hospital of Integrated Traditional Chinese and Western Medicine affiliated to Shanghai University of Traditional Chinese Medicine

Tongji hospital, Shanghai

Tongji university affiliated stomatological hospital

The First Affiliated Hospital of Naval Medical University (Shanghai Changhai Hospital)

　　According to the notice of the General Office of the State Council, the Spring Festival holiday in 2023 will last for 7 days from January 21st (Saturday) to January 27th (Friday). In order to meet the needs of patients, the working hours of hospital outpatient service are arranged as follows:

The Second Affiliated Hospital of Naval Medical University (shanghai changzheng hospital)

The Third Affiliated Hospital of Naval Military Medical University (Dongfang Hepatobiliary Surgery Hospital)

Huadong hospital

Tips

　　1. During the Spring Festival, the General Hospital, Minhang Clinic and Pudong Clinic have the same arrangement;

　　2. Experts, general and special disease clinics shall be subject to the consultation on the same day;

　　3. The outpatient service of Internet hospital shall be based on the schedule of the day. During the Spring Festival, the self-delivery and logistics distribution services of drugs will be suspended. Please understand.

　　4. Emergency and fever clinics are open 24 hours.

　　Shanghai First People’s Hospital

Shanghai sixth people’s hospital

Shanghai Tenth People’s Hospital

Shanghai stomatological hospital

children’s hospital of shanghai

Shanghai Chest Hospital

Pulmonary hospital, Shanghai

Shanghai No.1 Maternal and Infant Health Hospital

Tips:

　　The outpatient service is subject to the appointment system. Please make an appointment in advance before seeing a doctor.

　　Please do personal protection when entering the hospital and wear a mask without breathing valve all the time.

　　Please sit at intervals, keep a safe distance, and no dining is allowed.

　　shanghai hospital of traditional chinese medicine

Shanghai Mental Health Center

Shanghai Public Health Clinical Center

Shanghai oculopathy prevention center

shanghai dermatology hospital

international peace maternity and child health hospital

Shanghai Oriental Hospital

Putuo District Central Hospital

Yangpu district central hospital

　　According to the notice of the General Office of the State Council on the holiday arrangement for the Spring Festival in 2023, during the Spring Festival, our hospital will make the following adjustments to the emergency work and rest arrangements of the General Hospital and Antu Branch:

Shanghai Fifth People’s Hospital

Fengxian district central hospital

seventh peoples hospital of shanghai

Shanghai Guanghua combination of Chinese traditional and western medicine hospital

Shanghai hospital of combination of Chinese traditional and western medicine

Shanghai Baoshan District Hospital of Integrated Traditional Chinese and Western Medicine

Shanghai Jing ‘an District Central Hospital

Shanghai Minhang District Central Hospital

During the Spring Festival from January 21st to January 27th:

　　★ Zhongshan Medical Association experts stopped consulting;

　　★ The emergency department is open 24 hours;

　　★ Internet hospitals are open normally.

　　Shanghai Pudong Hospital

shanghai pudong new area gongli hospital

Shanghai Pudong New Area People’s Hospital

　　Dear colleagues and patients,

　　According to the spirit of the national holiday arrangement notice, combined with the actual situation of our hospital, the outpatient service arrangement during the Spring Festival is as follows:

　　First, during the festival, the Internet clinic will open as usual.

　　2. The offline clinic will be closed from January 21st (New Year’s Eve) to January 24th (the third day).

　　3. From January 25th (Grade 4) to January 27th (Grade 6), the general outpatient service in our hospital is arranged as follows during holidays:

　　Note: There is no specialist or special disease clinic during the festival. The emergency department is open 24 hours a day.

Note: The emergency department is open 24 hours during holidays. Please arrange the time for non-emergency patients. Thank you for your cooperation.

　　Zhou Pu Hospital, Pudong New Area

Shanghai Songjiang District Central Hospital

Shanghai Tongren Hospital

Shanghai Xuhui District Central Hospital

Special feature of 1905 film network If you use one word to describe the coming 2020, what would you choose?Under the sudden intrusion of the epidemic, many friends of the film critic have adjusted the rich goals set for this year to the word "alive".

However, similar to the China movie from stagnation to restart, you and I can always find more surprises besides completing the goal of "being alive".

Just last week, many film practitioners were pleasantly surprised to find that the annual box office of China movies in 2020 has exceeded 19.3 billion yuan, and the integer node of 20 billion seems within reach. As the biggest force in this sprint stage, it is naturally scheduled to be released on December 31.

The pre-sale box office on the opening day exceeded 100 million, and this "little red flower", which is incarnated as a little sun in the latest poster, is very hopeful to become a bright sun to help the film market recover at the last minute of 2020.

With the same theme of "being alive", it wants to achieve the goal of love and hope through all the audience.

When the flower falls, she does not die.

Two days after the release, A Little Red Flower released a promotion song called "Flowers".

With sentimental lyrics, the affection between the characters played by Jackson Yee and Liu Haocun is slowly released. The snuggling on the motorcycle and the proximity to the dining table all reveal the ambiguous atmosphere of youth.

Following Ma Xiaoyuan’s ridicule of Wei Yihang’s "Ma Bao", Tao Hui, the mother played by Zhu Yuanyuan, directly pointed out her son’s thoughts for the audience: You are afraid of losing her.

Afraid of losing, isn’t it the truest voice of you and me in 2020? We who continue to study the course of "Cherishing Life" in this year may be better able to experience the resonance of the times in Wei Yihang and Ma Xiaoyuan who are born to die.

Jackson Yee and Liu Haocun, who play cancer patients for the first time, are both leading the second screen. I’m afraid the test they face is not lower than that of you and me who were at a loss before the epidemic. Just like us who are constantly strong under the anti-epidemic achievements, the release of each video material brings surprises and confidence to this "little red flower" with their brilliant performances in skills and emotions.

Different from Xiaobei, which is full of social atmosphere, Jackson Yee’s "problem of juvenile" in A Little Red Flower, although still full of "stubborn" spirit, highlights the natural mentality of teenagers in their growth beyond repression.

What inspired him to go to the sun was naturally the issuer of "Little Red Flower" — — Ma Xiaoyuan played by Liu Haocun. Also terminally ill, the mud child in that movie has been born into a sunny and confident girl, as if all the illnesses in the play had nothing to do with her.

Trapped in the mire of suffering, the little red flower painted on the hand became the connection of flower of life, so that when Xiaoyuan asked "What if we get separated?", Yihang, who had lost his silence, gave the most firm answer:

"You raised this arm in the crowd. As soon as I saw this little red flower, I immediately ran to find you. 」

When the flower falls, she does not die, and the only strength that supports her is love and hope.

What a miserable day, you have overcome it.

A Little Red Flower, who is concerned about anti-cancer issues, has been the third screen contact between director Han Yan and the pain.

From amnesia, which is the background of love story, to leukemia, which is fought by optimism, Han Yan’s creation gradually approaches the truth of realism, but it is also more determined to face the pain with optimism.

As the core clue except "love" in A Little Red Flower, the family relationship between the two families has been the pillar of film promotion since the poster was warmed up. Even my father’s slap in the face of Yihang is fierce but not out of line in the dual context of suffering and Chinese family.

Professor Wu Guanping of Beijing Film Academy, who had seen the film in advance, remembered one of the family scenes vividly when he was a guest on the program "Today’s Film Review": the father who was worried about the money for his children’s treatment at a family dinner could not help but turn around and cry after winning the support promise of "selling the house" from different families.

China’s desire for life, which once touched him, is the most basic and lofty demand of the people for realism 3. After "fuck off!" Tumor jun’s cartoon style, I believe that in A Little Red Flower, where comedy faces such as George W. PINKRAY  joined, Han Yan will continue to actively write about the anti-cancer process with optimism.

For the people of China who have gained rich experience and achievements in fighting the epidemic in this year, this kind of writing has long been beyond the scope of artistic comparison. The anti-cancer family in A Little Red Flower represents the group of you and me who have gone through hardships and are unyielding.

What year-end gift can be more appropriate than this "little red flower" that we cultivated together?

The Expert Perspective of Today’s Film Review

Professor Wu Guanping of Beijing Film Academy:This film has given us a lot of emotional appeal of encouragement and progress, so I think showing the film A Little Red Flower at the end of the year to give you a "little red flower" can make us forget the misfortunes we experienced in 2020 and remember the touch and warmth left by 2020.

Top 10 World Powers in China’s Public Eyes (Unit:%)

　　On the morning of June 30th, the National Institute of Communication Strategy of Huazhong University of Science and Technology and the People’s Think Tank of People’s Daily published the results of "A Survey on the World Concept of the Chinese and American Public (2017-2018)". The survey was conducted from October 2018 to November 2018, and was conducted by professional survey companies in the form of online questionnaires. The respondents were adult citizens of China and the United States, and 2,500 and 2,562 questionnaires were successfully collected respectively.

　　The National Institute of Communication Strategy of Huazhong University of Science and Technology was established in June, 2013. Since 2014, it has launched the Survey on the World Concept of Chinese and American Public, and since 2016, it has published the National Image Communication Report of China every year. Dean Zhang Kun introduced that the survey asked the Chinese and American public about the diplomacy, geopolitics and global power pattern of today’s great powers from six dimensions: the view of great powers, the view of the United States (China) and the view of national identity, and generally described the "world concept" or "world imagination" of the Chinese and American public. Based on the survey data of the two countries, the research group found some noteworthy phenomena.

　　Each regards the other country as a global power.

　　China’s top ten world powers are the United States, China, Russia, Germany, Japan, Britain, France, Canada, Australia and Israel. The top ten world powers in the eyes of the American public are the United States, China, Russia, Japan, Britain, Germany, Canada, North Korea, South Korea and France.

　　The data shows that Chinese and American respondents regard each other’s country as a global power. However, the respondents in China think that China is slightly higher than the United States in the status of a political power, but slightly inferior to the United States in economic, military, scientific and technological aspects; American respondents believe that the United States is ahead of China in politics, economy, military affairs and science and technology. In the expectation of the future, the self-confidence and optimism of China respondents far exceed that of the United States. 57.7% of China respondents are confident that the overall level of social development in China will surpass that in the United States; American respondents generally affirmed the strong development momentum of China, among which 45.5%, 40.8% and 30.7% thought that China had surpassed or would surpass the United States in science and technology, economy and military affairs respectively.

　　The American public still does not know enough about China.

　　The data shows that there is an obvious gap between Chinese and American public’s understanding of each other’s countries. The American public’s willingness to know information about China is relatively low, while the China public’s understanding of the United States is higher. Less than 40% (36.4%) of the American public said that they knew China very well or well, while nearly 10% (9.8%) of the respondents knew almost nothing about China.

　　"Sino-US trade friction" is harmful to both sides.

　　Generally speaking, the respondents showed a significant negative attitude towards the "Sino-US trade war". 43.5% of the respondents believe that the economic and trade friction between China and the United States will bring negative effects on global economic growth. About 40% of the American public believe that "Sino-US trade friction" is harmful to the social development of both the United States and China.

　　China respondents are more proud than the United States.

　　The data shows that there is a big gap between China and the United States in terms of social trust and national pride. American respondents are more likely to feel distrust of the people they contact in society. The national identity of China respondents is quite remarkable, with the average score of national pride as high as 4.25, while that of American respondents is 3.87.

　　The American public’s praise for China is especially reflected in the fields of economy and science and technology. Nearly a quarter of the respondents believe that China’s scientific and technological level will be better than that of the United States, and 21.4% of the respondents even believe that China’s scientific and technological strength has already overwhelmed the United States. More than one-fifth of the respondents believe that China’s economic development will surpass that of the United States in the future. Similarly, nearly one-fifth of the respondents believe that China’s overall social development and military level will also surpass the United States.

　　The American public’s evaluation of Trump is quite different

　　The data shows that the scores of Trump by the public of different races are quite different: the highest score is given by white/Caucasian respondents, and the lowest score is given by black/African-American groups. This is the same as Trump’s campaign.

　　There are obvious differences in Trump scores among different income groups. The higher the income, the greater the goodwill: the high-income group gave it a high score of 7.57, while the low-income group only gave it a score of 4.02. This result is different from the support groups during the campaign. According to the analysis of the report, the trade protectionism vigorously advocated by President Trump during his term of office won the general favor of high-income groups.

　　Trump’s rating of the American public with different education levels showed a trend of high at both ends and low at the middle. Trump’s scores of junior high school and below and graduate students and above are almost the same, with 6.54 points and 6.53 points respectively. According to the analysis of the report, Trump gained some goodwill within the elite group, breaking the situation that only people with low academic qualifications supported during the campaign.

　　Reporter Zhu Jianhua Yang Jiafeng

　　Editor’s Note of China Economic NetShenzhen Jiangbolong Electronics Co., Ltd. (hereinafter referred to as "Jiangbolong") will hold its initial meeting on December 16, 2021. The company plans to list on the Growth Enterprise Market of Shenzhen Stock Exchange this time, and the number of public offerings will not be less than 10% of the total share capital of the company after the issuance, and it will not exceed 42 million shares. The sponsor and lead underwriter are CITIC Jiantou Securities Co., Ltd. and the joint lead underwriter is HSBC Qianhai Securities Co., Ltd. Jiang Bolong plans to raise 1.50 billion yuan this time, of which 700 million yuan will be used for the second phase construction project of Jiang Bolong Zhongshan Storage Industrial Park, 350 million yuan will be used for enterprise-level and industrial-level storage research and development projects, and 450 million yuan will be used to supplement working capital.　

　　From 2018 to January-June, 2021, Jiangbolong’s operating income was 4.228 billion yuan, 5.721 billion yuan, 7.276 billion yuan and 5.302 billion yuan respectively, of which the main business income was 4.228 billion yuan, 5.721 billion yuan, 7.276 billion yuan and 5.301 billion yuan respectively.　

　　From 2018 to January-June, 2021, Jiang Bolong received cash of 4.135 billion yuan, 5.874 billion yuan, 7.539 billion yuan and 5.338 billion yuan, respectively.　

　　From 2018 to January-June, 2021, Jiangbolong’s net profit was-58,436,900 yuan, 127 million yuan, 276 million yuan and 680 million yuan respectively, of which the net profit attributable to the owners of the parent company was-56,539,700 yuan, 128 million yuan, 276 million yuan and 680 million yuan respectively.　

　　From January to June of 2018 to 2021, the net cash flow generated by Jiangbolong’s operating activities was-212 million yuan,-173 million yuan, 424 million yuan and-971 million yuan respectively.　

　　From January to September 2021, Jiangbolong’s operating income was 7.679 billion yuan, a year-on-year increase of 67.45%; The net profit was 948 million yuan, a year-on-year increase of 3997.91%; The net profit attributable to shareholders of the parent company was 948 million yuan, a year-on-year increase of 3997.91%; The net profit of returning to the mother after deduction was 871 million yuan, a year-on-year increase of 475.74%; The net cash flow from operating activities was-838 million yuan, compared with-2,645,900 yuan in the same period of last year, with a change ratio of-31,562.27%.　

　　Jiang Bolong estimates that the operating income in 2021 will be 9.600 billion yuan to 10.140 billion yuan, an increase of 31.94% to 39.36% compared with 2020; The net profit attributable to shareholders of the parent company is 960 million yuan to 1.035 billion yuan, an increase of 247.53% to 274.68% compared with 2020; After deducting non-recurring gains and losses, the net profit attributable to shareholders of the parent company is 883 million yuan to 958 million yuan, an increase of 186.80% to 21.116% compared with 2020.　

　　From 2018 to January-June 2021, the total assets of Jiangbolong were 2.751 billion yuan, 4.033 billion yuan, 5.055 billion yuan and 5.673 billion yuan respectively; The total liabilities were 706 million yuan, 924 million yuan, 1.592 billion yuan and 1.603 billion yuan respectively.　

　　After review, from January to September 2021, the total assets of Jiangbolong were 6.091 billion yuan, an increase of 20.50% over the end of last year; Total liabilities were 1.751 billion yuan, up 9.98% from the end of last year.　

　　From 2018 to January-June 2021, the current ratio of Jiangbolong was 3.60 times, 3.95 times, 2.76 times and 3.06 times respectively, the quick ratio was 1.54 times, 1.87 times, 1.32 times and 0.86 times respectively, and the asset-liability ratio (parent company) was 5.30%, 9.19% and 0.86 times respectively.　

　　From 2018 to January-June 2021, the average asset-liability ratio of comparable listed companies in the same industry was 56.77%, 54.01%, 51.65% and 54.49% respectively. Among them, Smart Global’s asset-liability ratio is 72.19%, 61.16%, 64.14% and 76.66%, Weigang’s asset-liability ratio is 66.34%, 66.89%, 65.80% and 63.09%, and the pirate ship’s asset-liability ratio is 79.94%, 79.54% and 66.　

　　From January to June of 2018 to 2021, Jiangbolong’s monetary funds were 531 million yuan, 1.198 billion yuan, 1.585 billion yuan and 603 million yuan respectively, accounting for 22.83%, 34.47%, 36.86% and 12.76% of current assets respectively.　

　　From 2018 to January-June, 2021, the deposits in Jiangbolong Bank were 531 million yuan, 1.198 billion yuan, 1.585 billion yuan and 603 million yuan respectively, accounting for 99.98%, 99.99%, 100.00% and 99.99% of the monetary funds respectively.　

　　From 2018 to January-June 2021, the book value of Jiangbolong’s accounts receivable was 407 million yuan, 409 million yuan, 385 million yuan and 610 million yuan respectively, accounting for 17.50%, 11.77%, 8.96% and 12.93% of current assets respectively.　

　　From 2018 to January-June, 2021, the balance of accounts receivable of Jiangbolong was 408 million yuan, 410 million yuan, 386 million yuan and 611 million yuan respectively, of which the balance of accounts receivable within three months was 397 million yuan, 405 million yuan, 353 million yuan and 611 million yuan respectively.　

　　From 2018 to January-June, 2021, the amounts paid back by Jiang Bolong after the accounts receivable period were 408 million yuan, 409 million yuan, 386 million yuan and 537 million yuan, respectively, and the proportions of the paid back after the period were 99.87%, 99.90%, 100.00% and 87.88%.　

　　From 2018 to January-June 2021, the turnover rate of accounts receivable of Jiangbolong was 13.83 times, 14.02 times, 18.33 times and 21.30 times respectively, and the average of comparable companies in the same industry was 7.79 times, 7.11 times, 7.39 times and 7.59 times respectively.　

　　From 2018 to January-June, 2021, the accounts receivable turnover of Smart Global, a comparable company in the same industry, was 6.13 times, 5.33 times, 5.18 times and 5.61 times respectively, the accounts receivable turnover of Weigang was 9.75 times, 8.91 times, 9.66 times and 8.53 times respectively, and the accounts receivable turnover of pirate ships was 7.68 times and 6.76 times respectively.　

　　From 2018 to January-June 2021, the book value of Jiangbolong’s inventory was 1.333 billion yuan, 1.825 billion yuan, 2.246 billion yuan and 3.393 billion yuan respectively, accounting for 57.26%, 52.53%, 52.24% and 71.84% of current assets.　

　　From 2018 to January-June 2021, the inventory balance of Jiangbolong was 1.391 billion yuan, 1.852 billion yuan, 2.267 billion yuan and 3.457 billion yuan respectively, and the inventory depreciation reserve was 58.156 million yuan, 27.0826 million yuan, 21.3206 million yuan and 64.1743 million yuan respectively.　

　　Jiang Bolong said that the company’s ending inventory is relatively large, and may further increase with the expansion of the company’s operating scale.　

　　From 2018 to January-June 2021, the inventory turnover rate of Jiangbolong was 3.04 times, 3.23 times, 3.15 times and 2.95 times respectively, and the average of comparable companies in the same industry was 5.21 times, 5.31 times, 5.25 times and 4.23 times respectively.　

　　From 2018 to January-June, 2021, the inventory turnover of Smart Global, a comparable company in the same industry, was 5.72 times, 5.73 times, 6.43 times and 4.97 times respectively, the inventory turnover of Weigang was 6.13 times, 5.71 times, 4.60 times and 3.50 times respectively, and the inventory turnover of pirate ships was 5.64 times, 5.82 times and 5.50 times respectively.　

　　From 2018 to January-June, 2021, Jiang Bolong’s short-term loans were 271 million yuan, 350 million yuan, 414 million yuan and 574 million yuan respectively, accounting for 41.82%, 39.72%, 26.57% and 37.15% of current liabilities respectively.　

　　From 2018 to January-June, 2021, the comprehensive gross profit margin of Jiangbolong was 7.62%, 10.71%, 11.96% and 21.59% respectively, and the gross profit margin showed an overall upward trend.　

　　From 2018 to January-June, 2021, the average gross profit margins of comparable companies in the same industry were 15.17%, 17.42%, 19.05% and 21.54% respectively. Among them, the gross profit margins of Smart Global are 22.62%, 19.60%, 19.28% and 18.44% respectively, while those of Weigang are 6.05%, 11.07%, 14.82% and 18.60% respectively, and those of pirate ships are 11.95%, 16.14% and 20.53 respectively.　

　　According to Jiangbolong’s product categories, the gross profit margin of embedded storage is 6.41%, 14.21%, 10.84% and 24.63%, the gross profit margin of solid-state disk is 4.60%, 5.27%, 9.75% and 15.33%, and the gross profit margin of mobile storage is 10.16%, 10.34% and 18.33% respectively.　

　　From 2018 to January-June, 2021, the sales amount of Jiangbolong to the top five customers was 929 million yuan, 1.803 billion yuan, 2.510 billion yuan and 1.789 billion yuan respectively, accounting for 21.98%, 31.51%, 34.49% and 33.74% of the total sales respectively.　

　　It is worth noting that in 2018, the largest customer of Jiangbolong was the listed company Weir, and the sales amount of Jiangbolong to Weir in that year was 315 million yuan. By 2019, Weir was ranked as the fourth largest customer of Jiangbolong, and the sales amount of Jiangbolong to Weir in that year was 236 million yuan. From January to June in 2020 and 2021, Weir withdrew from the list of the top five customers of Jiangbolong.　

　　From 2018 to January-June, 2021, the purchase amount of Jiangbolong from the top five suppliers was 2.861 billion yuan, 3.962 billion yuan, 4.980 billion yuan and 3.879 billion yuan respectively, accounting for 73.41%, 70.37%, 71.96% and 72.40% of the total purchase amount respectively.　

　　From 2018 to January-June, 2021, the overseas sales accounted for 85.24%, 85.19%, 84.74% and 83.59% respectively, and the overseas purchases accounted for 95.65%, 93.38%, 87.61% and 87.93% respectively.　

　　From 2018 to January-June 2021, the domestic income of Jiangbolong was 624 million yuan, 847 million yuan, 1.110 billion yuan and 870 million yuan respectively, accounting for 14.76%, 14.81%, 15.26% and 16.41% of the main business income respectively.　

　　From 2018 to January-June 2021, Jiangbolong’s overseas income was 3.604 billion yuan, 4.873 billion yuan, 6.165 billion yuan and 4.431 billion yuan respectively, accounting for 85.24%, 85.19%, 84.74% and 83.59% of the main business income respectively.　

　　After long-term technology accumulation, Jiangbolong has formed 47 core technologies closely related to its business, achieved 12 achievements based on core technology research and development, and is engaged in 25 major research and development projects. The Shenzhen Stock Exchange raised questions about the company’s core technology and core competitiveness in the first round and the second round of inquiries about Jiang Bolong. These include: explaining the reasons why the number of invention patents obtained during the reporting period is significantly less than that outside the reporting period, whether most of the current patents of the issuer are obsolete and have no great commercial value, and whether the core technology of the issuer is advanced; Explain the importance of the relevant license of SD memory card to the issuer, the relevant license fee and license period, and whether it can ensure the issuer’s long-term use; Before the signing of the license agreement in June 2019, whether the issuer involved in the use of relevant licenses, whether there were disputes or potential disputes.　

　　According to the prospectus, there are a number of related party transactions in Jiang Bolong, among which a related party sales amount reached 114 million yuan in 2019, which was for Jiang Bolong to sell storage products such as solid state drives to U Lucky International (HK) Co., Ltd. (Youxiang International (Hong Kong) Co., Ltd.). The company is an enterprise in which Xing Xiaobo, the brother of Cai Huabo’s eldest brother and spouse, one of Jiang Bolong’s real controllers, holds 100% shares. In addition, Jiang Bolong’s real controllers Cai Huabo, Cai Lijiang and others have provided unlimited guarantee for Hong Kong Jiang Bolong, a wholly-owned subsidiary of the company.　

　　The price of products sold by Jiang Bolong to related parties is much lower than the unit price of similar products. Shenzhen Stock Exchange’s second round of audit inquiry on Jiang Bolong shows that in 2019, Jiang Bolong sold 114 million yuan to related party Youxiang International (Hong Kong); In 2018-2019, it sold 20,035,100 yuan and 13,083,700 yuan to Hengchu Trade respectively, and sold 6,825,800 yuan and 24,214,400 yuan to friends and partners. In 2020, it will sell 25,855,700 yuan to CLP Port. The selling price of Jiangbolong to related parties is far lower than the selling unit price of similar products. For example, the selling unit price of Jiangbolong to Youxiang International in 2018-2019 ranged from 14.71 yuan/piece to 26.57 yuan/piece, while the average selling unit price of Jiangbolong’s solid-state drives in the same period was 108.74 yuan/piece and 143.28 yuan/piece.　

　　Shenzhen Stock Exchange requires Jiang Bolong to explain the fairness of related party transactions, the reason why the issuer’s sales price to related parties is much lower than the unit price of similar products, whether there is a big difference between the content and model of products sold by the issuer to the related parties and the issuer’s main product sales structure, the necessity and rationality of related transactions, and whether there is any interest transfer situation.　

　　In addition, Jiang Bolong’s equity transfer has also caused the Shenzhen Stock Exchange to pay attention to the inquiry, whether it obviously regulates profits and whitewashes performance. Shenzhen Stock Exchange’s first inquiry about Jiang Bolong showed that the company’s investment income from the disposal of long-term equity investment in 2020 was 107 million yuan, mainly due to the sale of a 2.61% stake in Microelectronics. In November, 2020, Jiangbo Longzi Company Tibet Yuanshi transferred 0.78% and 1.83% equity of a microelectronics company to Kaiying Venture Capital and Chuangke Town respectively. After the completion of the above-mentioned equity transfer, Jiang Bolong’s remaining shareholding ratio in a microelectronics company was 4.79%. At the same time, he no longer sent directors to a microelectronics company and did not participate in its daily operation and management activities, which was considered to have no significant impact on it. He adjusted the remaining 4.79% equity to other non-current financial assets and re-measured it at fair value. As the fair value of a microelectronics company’s equity was higher than the book value of long-term equity investment, a large amount of current investment income was recognized. According to public information, after the transfer, Jiang Bolong remains the third largest shareholder of Deyi Microelectronics.　

　　Shenzhen Stock Exchange requires Jiang Bolong to explain the rationality of the issuer’s confirmation of the investment income of a microelectronic equity sold until 2020 in combination with the payment time and the change time of industrial and commercial registration. Whether the above-mentioned equity transfer time is close to the end of the reporting period has obvious motives for regulating profits and whitewashing performance shows whether Kaiying Venture Capital and Maker Town are related or closely related to the issuer’s actual controller, Dong Jiangao and their related parties.　

　　According to the data released by China Flash Memory Market (CFM) and Omdia(IHS Markit), in 2020, the company ranked seventh in the global market share of eMMC products, third in the global market share of Lexar memory cards and fourth in the global market share of Lexar flash drives. According to public information, the market share of DDR5 is expected to rapidly surpass DDR4.　　

　　The Shenzhen Stock Exchange asked Jiang Bolong to briefly explain the differences in application fields, implementation functions, storage capacity and technical routes of various products of the issuer; Explain the difference between the technical level of the issuer’s main products and its main competitors, and the price difference between the issuer’s main sales price and the similar products with the same specifications of its main competitors, and analyze whether the issuer is competitive compared with its main competitors; Combined with the substitution of DDR5 for DDR4 and the latest technology development in the storage industry, this paper explains whether the issuer’s main product types and technical routes are facing the risk of being replaced or eliminated, and gives a risk warning in the prospectus.　

　　Jiang Bolong said in his reply that the global semiconductor memory market is huge, and the company’s operating income is growing rapidly, but the market share is small and there is broad room for growth.　

　　Jiang Bolong has a commercial secret infringement dispute litigation. According to the prospectus, the case is in the first instance stage and is currently undergoing judicial appraisal related to the facts of the case. Jiang Bolong sued the Shenzhen Intermediate People’s Court on the grounds that the defendants Hao Lu, Zhao Ying and Shenzhen Jingcun Technology Co., Ltd. infringed the commercial secrets of Jiang Bolong’s testing technology. On June 22, 2020, the Shenzhen Intermediate People’s Court issued the Notice of Accepting Cases to accept the case. Defendant Hao Lu was a retired employee of Jiang Bolong and participated in the research and development of LPDDR3 testing technology. Jiang Bolong discovered that the defendant was selling products containing the above testing technology in the market at the end of 2018, so he sued the defendant to stop the infringement and jointly compensated Jiang Bolong for economic losses and punitive damages totaling 132,044,800 yuan. Jiang Bolong disclosed the draft prospectus on December 9, 2021, showing that as of the signing date of the prospectus, the case was in the first instance stage. At present, judicial expertise related to the facts of the case is being carried out. In addition, Jiang Bolong’s WeChat WeChat official account published a message on July 13, 2020. On July 7, 2020, the company suddenly received a lawyer’s letter from Jingcun Company, claiming that Jiang Bolong deliberately concealed the facts and framed others.　

　　According to the prospectus, Cai Huabo, the controlling shareholder of Jiang Bolong, was involved in the case of Ji Zhen, the former deputy head of Nanshan District, Shenzhen, as a witness. According to the criminal judgment No.350 (2017) at the beginning of Guangdong 03 Criminal Sentence made by Shenzhen Intermediate People’s Court on December 18th, 2017 and the Criminal Ruling No.395 (2018) at the end of Guangdong Criminal Sentence made by Guangdong Higher People’s Court on June 8th, 2018, Ji Zhen introduced Huade Company and Jiang Bolong to Cai Huabo on the grounds of supporting his student Zeng Moming to start a business. Huade Company’s business scope includes integrated circuit business and Jiangbolong Co., Ltd. has outsourcing cooperation with other manufacturers in testing business. Therefore, Jiangbolong Co., Ltd. signed an entrusted testing contract with Huade Company and paid a testing fee of 1 million yuan, but Huade Company failed to fulfill its corresponding contractual obligations, and this testing fee was actually occupied by Ji Zhen. Hou Jizhen was convicted of accepting bribes and corruption, and the case has been closed.　

　　According to the refereeing document network, in the first half of 2013, Shenzhen Jiangbolong Electronics Co., Ltd. (hereinafter referred to as "Jiangbolong Company") applied to the Nanshan District Government for funding for science and technology projects, and with the help of the defendant Ji Zhen, it finally won the funding for science and technology projects of RMB 2 million. Since then, Ji Zhen asked Cai Mobo, the chairman of the company, that the company sign an entrusted test contract with Huade Company and pay the test fee of RMB 1 million. Cai Mobo agreed. On November 27th, 2013, Ji Zhen appointed Zeng Moming to sign a contract with Jumbolong Company on behalf of Huade Company. On January 6, 2014, Jumbolong Company transferred RMB 1 million to Huade Company. The contract was not actually performed, and it was a false contract. The so-called test fee was the benefit fee charged by Ji Zhen to Jiang Bolong Company, which was used by Ji Zhen for personal purchase.　

　　According to the prospectus, Jiang Bolong distributed cash dividends of 20 million yuan and 59.3383 million yuan in April 2018 and May 2021 respectively. Regarding the above cash dividends, Shenzhen Stock Exchange asked Jiang Bolong to analyze and explain the necessity and appropriateness of the relevant large cash dividends, and whether they match with Jiang Bolong’s financial situation, focusing on analyzing and explaining the rationality of Jiang Bolong’s cash dividends in the case of losses in 2018, such as the articles of association of Jiang Bolong. Explain the use of dividend funds of Jiang Bolong’s actual controller and major shareholders.　

　　Mainly engaged in the research, development, design and sales of Flash and DRAM memories.　

　　Jiang Bo is mainly engaged in the research, development, design and sales of Flash and DRAM memories. The company faces the application market and consumer market of consumer electronics, industry, communication, automobile, security, monitoring and other industries, and provides customers with high-performance, high-quality and innovative memory chips and products. The company has four product lines: embedded storage, solid-state hard disk, mobile storage and memory stick.　

　　The draft prospectus disclosed by Jiang Bolong on December 9, 2021 shows that as of the signing date of the prospectus, the controlling shareholder of the company is Cai Huabo, and the actual controllers are Cai Huabo and Cai Lijiang. Cai Huabo and Cai Lijiang are brothers and sisters. Together, they directly and indirectly control 246 million shares, accounting for 66.33%, of which Cai Huabo directly holds 162 million shares, accounting for 43.68%. Cai Lijiang directly holds 14.7 million shares, with a shareholding ratio of 3.96%; At the same time, Cai Huabo indirectly controlled 69.3 million shares, accounting for 18.69%, by being the executive partner of Longxi No.1, Longxi No.2, Longxi No.3, Longjian Management and Longxi No.5..　

　　Cai Huabo is the largest shareholder of Jiang Bolong, with a shareholding ratio of 43.68%; The National IC Fund is the second largest shareholder of the company, with a shareholding ratio of 6.93%; Cai Lijiang is the eighth largest shareholder of the company, with a shareholding ratio of 3.96%; Longxi No.1, Longxi No.2 and Longxi No.3 are the fourth, fifth and sixth largest shareholders of the company respectively, with shareholding ratios of 5.13%, 5.13% and 4.80% respectively; Longxi No.5 is the twelfth largest shareholder of the company, with a shareholding ratio of 1.70%.　

　　According to the prospectus, Cai Huabo is a China citizen with no permanent residency abroad. He was born in 1976 and has a high school education. From 1996 to 1999, he served as a salesman of Shenzhen Haiyangwang Investment Development Co., Ltd.; Jiang Bolong Co., Ltd. was founded in 1999 and has served as general manager, executive director and chairman of Jiang Bolong Co., Ltd.; From 2015 to 2018, he served as an independent director of Beijing Junzheng Integrated Circuit Co., Ltd.; He is currently the chairman and general manager of the company.　

　　Cai Lijiang, a China citizen with no permanent residency abroad, was born in 1976 and graduated from Jiangxi Hualian Institute of Foreign Trade with a junior college degree. From September 1998 to October 1999, he served as a design engineer of Shenzhen Baoan Debao Industrial Development Co., Ltd.; Since October 1999, he has worked in Jiang Bolong, and now he is the senior vice president of the company.　

　　Jiang Bolong plans to be listed on the Growth Enterprise Market of Shenzhen Stock Exchange this time. The number of public offerings is not less than 10% of the total share capital of the company after the issuance, and it does not exceed 42 million shares. The sponsor and lead underwriter are CITIC Jiantou Securities Co., Ltd., and the joint lead underwriter is HSBC Qianhai Securities Co., Ltd. Jiang Bolong plans to raise 1.5 billion yuan this time. After deducting the issuance expenses, he will invest in the following projects:　

　　1. The second phase construction project of Jiangbolong Zhongshan Storage Industrial Park, with a total investment of 700 million yuan, plans to invest 700 million yuan to raise funds; 2. Enterprise-level and industrial-level memory research and development projects, with a total investment of 361 million yuan, and plans to invest 350 million yuan to raise funds; 3. Replenish the working capital. The total investment of the project is 450 million yuan, and it is planned to invest 450 million yuan to raise funds.　

　　In the first half of 2021, the operating income was 5.302 billion yuan, and the net profit was 680 million yuan.　

　　From 2018 to January-June, 2021, Jiangbolong’s operating income was 4.228 billion yuan, 5.721 billion yuan, 7.276 billion yuan and 5.302 billion yuan respectively, of which the main business income was 4.228 billion yuan, 5.721 billion yuan, 7.276 billion yuan and 5.301 billion yuan respectively.　

　　From 2018 to January-June, 2021, Jiang Bolong received cash of 4.135 billion yuan, 5.874 billion yuan, 7.539 billion yuan and 5.338 billion yuan, respectively.　

　　From 2018 to January-June, 2021, Jiangbolong’s net profit was-58,436,900 yuan, 127 million yuan, 276 million yuan and 680 million yuan respectively, of which the net profit attributable to the owners of the parent company was-56,539,700 yuan, 128 million yuan, 276 million yuan and 680 million yuan respectively.　

　　From January to June of 2018 to 2021, the net cash flow generated by Jiangbolong’s operating activities was-212 million yuan,-173 million yuan, 424 million yuan and-971 million yuan respectively.　

　　In 2018, 2019 and January-June, 2021, the net cash flow generated by Jiangbolong’s operating activities was lower than the current net profit, mainly because with the expansion of production and operation scale, the company’s inventory scale grew rapidly, and the cash expenditure for purchasing goods and accepting labor services was relatively large; In 2020, the net cash flow generated by the company’s operating activities was higher than the current net profit, mainly because the downstream customers paid back more actively and the sales paid back well when the market was good and the storage products were in short supply. At the same time, the company adopted a more active purchasing and stocking strategy. In the fourth quarter of 2020, the inventory purchase scale was large, and the amount of accounts payable increased rapidly at the end of the credit period.　

　　It is estimated that the annual operating income in 2021 will be 9.600 billion yuan to 10.140 billion yuan, and the net profit returned to the mother will be 960 million yuan to 1.035 billion yuan.　

　　After review, from January to September 2021, the total assets of Jiangbolong were 6.091 billion yuan, an increase of 20.50% over the end of last year; Total liabilities were 1.751 billion yuan, up 9.98% from the end of last year.　

　　From January to September 2021, Jiangbolong’s operating income was 7.679 billion yuan, a year-on-year increase of 67.45%; The net profit was 948 million yuan, a year-on-year increase of 3997.91%; The net profit attributable to shareholders of the parent company was 948 million yuan, a year-on-year increase of 3997.91%; The net profit returned to the mother after deduction was 871 million yuan, a year-on-year increase of 475.74%.　

　　From January to September 2021, the net cash flow generated by Jiangbolong’s operating activities was-838 million yuan, compared with-2,645,900 yuan in the same period of last year, with a change ratio of-31,562.27%.　

　　Jiang Bolong said in the prospectus that from January to September 2021, the net cash flow generated by the company’s operating activities was-838 million yuan, and the net outflow increased rapidly compared with the same period of last year, mainly because on the one hand, with the expansion of production and operation scale, the company’s inventory increased by 1.182 billion yuan at the end of September 2021 compared with the end of last year, and the cash expenditure for purchasing goods and accepting labor services was relatively large; On the other hand, the company’s operating income maintained steady growth, and the accounts receivable at the end of September 2021 increased by 309 million yuan compared with the end of the previous year.　

　　In addition, based on the current operating conditions and market environment of Jiangbolong, the company expects its annual operating income to be 9.600 billion yuan to 10.140 billion yuan in 2021, an increase of 31.94% to 39.36% compared with 2020; The net profit attributable to shareholders of the parent company is 960 million yuan to 1.035 billion yuan, an increase of 247.53% to 274.68% compared with 2020; After deducting non-recurring gains and losses, the net profit attributable to shareholders of the parent company is 883 million yuan to 958 million yuan, an increase of 186.80% to 21.116% compared with 2020.　

　　Jiang Bolong’s above-mentioned 2021 annual performance forecast is only a reasonable estimate of the management’s operating performance, and it does not constitute the company’s profit forecast or performance commitment without being audited or reviewed by certified public accountants.　

　　In the first half of 2021, the total assets were 5.673 billion yuan and the total liabilities were 1.603 billion yuan.　

　　From 2018 to January-June 2021, the total assets of Jiangbolong were 2.751 billion yuan, 4.033 billion yuan, 5.055 billion yuan and 5.673 billion yuan respectively, of which the current assets were 2.327 billion yuan, 3.475 billion yuan, 4.299 billion yuan and 4.723 billion yuan respectively.　

　　From 2018 to January-June, 2021, Jiang Bolong’s total liabilities were 706 million yuan, 924 million yuan, 1.592 billion yuan and 1.603 billion yuan respectively, of which current liabilities were 647 million yuan, 881 million yuan, 1.560 billion yuan and 1.546 billion yuan respectively.　

　　From 2018 to January-June 2021, the current ratio of Jiangbolong was 3.60 times, 3.95 times, 2.76 times and 3.06 times respectively, the quick ratio was 1.54 times, 1.87 times, 1.32 times and 0.86 times respectively, and the asset-liability ratio (parent company) was 5.30%, 9.19% and 0.86 times respectively.　

　　From 2018 to January-June 2021, the average asset-liability ratio of comparable listed companies in the same industry was 56.77%, 54.01%, 51.65% and 54.49% respectively. Among them, Smart Global’s asset-liability ratio is 72.19%, 61.16%, 64.14% and 76.66%, Weigang’s asset-liability ratio is 66.34%, 66.89%, 65.80% and 63.09%, and the pirate ship’s asset-liability ratio is 79.94%, 79.54% and 66.　

　　In the first half of 2021, the monetary fund was 603 million yuan.　

　　From January to June of 2018 to 2021, Jiangbolong’s monetary funds were 531 million yuan, 1.198 billion yuan, 1.585 billion yuan and 603 million yuan respectively, accounting for 22.83%, 34.47%, 36.86% and 12.76% of current assets respectively.　

　　From 2018 to January-June, 2021, the deposits in Jiangbolong Bank were 531 million yuan, 1.198 billion yuan, 1.585 billion yuan and 603 million yuan respectively, accounting for 99.98%, 99.99%, 100.00% and 99.99% of the monetary funds respectively.　

　　The balance of accounts receivable in the first half of 2021 was 611 million yuan.　

　　From 2018 to January-June 2021, the book value of Jiangbolong’s accounts receivable was 407 million yuan, 409 million yuan, 385 million yuan and 610 million yuan respectively, accounting for 17.50%, 11.77%, 8.96% and 12.93% of current assets respectively.　

　　From 2018 to January-June, 2021, the balance of accounts receivable of Jiangbolong was 408 million yuan, 410 million yuan, 386 million yuan and 611 million yuan respectively, of which the balance of accounts receivable within three months was 397 million yuan, 405 million yuan, 353 million yuan and 611 million yuan respectively.　

　　From 2018 to January-June, 2021, the amounts paid back by Jiang Bolong after the accounts receivable period were 408 million yuan, 409 million yuan, 386 million yuan and 537 million yuan, respectively, and the proportions of the paid back after the period were 99.87%, 99.90%, 100.00% and 87.88%.　

　　From 2018 to January-June 2021, the turnover rate of accounts receivable of Jiangbolong was 13.83 times, 14.02 times, 18.33 times and 21.30 times respectively, and the average of comparable companies in the same industry was 7.79 times, 7.11 times, 7.39 times and 7.59 times respectively.　

　　From 2018 to January-June, 2021, the accounts receivable turnover of Smart Global, a comparable company in the same industry, was 6.13 times, 5.33 times, 5.18 times and 5.61 times respectively, the accounts receivable turnover of Weigang was 9.75 times, 8.91 times, 9.66 times and 8.53 times respectively, and the accounts receivable turnover of pirate ships was 7.68 times and 6.76 times respectively.　

　　The inventory balance in the first half of 2021 was 3.457 billion yuan.　

　　From 2018 to January-June 2021, the book value of Jiangbolong’s inventory was 1.333 billion yuan, 1.825 billion yuan, 2.246 billion yuan and 3.393 billion yuan respectively, accounting for 57.26%, 52.53%, 52.24% and 71.84% of current assets.　

　　From 2018 to January-June 2021, the inventory balance of Jiangbolong was 1.391 billion yuan, 1.852 billion yuan, 2.267 billion yuan and 3.457 billion yuan respectively, and the inventory depreciation reserve was 58.156 million yuan, 27.0826 million yuan, 21.3206 million yuan and 64.1743 million yuan respectively.　

　　Jiang Bolong said that at the end of June 2021, the company’s provision for inventory depreciation increased, mainly due to the fluctuation of the market price of memory chips. From January to June 2021, the market demand for memory chips was strong, and the supply and demand of DRAM storage wafers were relatively tight. After the market price of memory chips rose rapidly in the first quarter, the price fell back in the second quarter. As a result, the company’s provision for inventory depreciation increased.　

　　From 2018 to January-June 2021, the inventory turnover rate of Jiangbolong was 3.04 times, 3.23 times, 3.15 times and 2.95 times respectively, and the average of comparable companies in the same industry was 5.21 times, 5.31 times, 5.25 times and 4.23 times respectively.　

　　From 2018 to January-June, 2021, the inventory turnover of Smart Global, a comparable company in the same industry, was 5.72 times, 5.73 times, 6.43 times and 4.97 times respectively, the inventory turnover of Weigang was 6.13 times, 5.71 times, 4.60 times and 3.50 times respectively, and the inventory turnover of pirate ships was 5.64 times, 5.82 times and 5.50 times respectively.　

　　Jiang Bolong said that the company’s ending inventory is relatively large, and may further increase with the expansion of the company’s operating scale. Every year, the company makes corresponding provision for depreciation according to the amount that the net realizable value of the inventory is lower than the cost. Because the gross profit margin of the company’s products is relatively low and the inventory scale is relatively large, in the future, if the market supply and demand change greatly, the raw material price fluctuates greatly, the product market price and gross profit margin drop sharply, and the technical iteration leads to the decline or elimination of product demand, the company will face the risk of inventory depreciation loss, which will adversely affect the company’s financial situation and operating results.　

　　In the first half of 2021, the short-term loan was 574 million yuan.　

　　From 2018 to January-June, 2021, Jiang Bolong’s short-term loans were 271 million yuan, 350 million yuan, 414 million yuan and 574 million yuan respectively, accounting for 41.82%, 39.72%, 26.57% and 37.15% of current liabilities respectively.　

　　Jiang Bolong said that at the end of each reporting period, the amount of short-term loans of the company showed an upward trend, mainly due to the increase in capital demand with the expansion of the company’s business scale.　

　　In the first half of 2021, the comprehensive gross profit rate was 21.59%, which was lower than the industry average in the first three years.　

　　From 2018 to January-June, 2021, the comprehensive gross profit margin of Jiangbolong was 7.62%, 10.71%, 11.96% and 21.59% respectively, and the gross profit margin showed an overall upward trend.　

　　From 2018 to January-June, 2021, the average gross profit margins of comparable companies in the same industry were 15.17%, 17.42%, 19.05% and 21.54% respectively. Among them, the gross profit margins of Smart Global are 22.62%, 19.60%, 19.28% and 18.44% respectively, while those of Weigang are 6.05%, 11.07%, 14.82% and 18.60% respectively, and those of pirate ships are 11.95%, 16.14% and 20.53 respectively.　

　　According to Jiangbolong’s product categories, the gross profit margin of embedded storage is 6.41%, 14.21%, 10.84% and 24.63%, the gross profit margin of solid-state disk is 4.60%, 5.27%, 9.75% and 15.33%, and the gross profit margin of mobile storage is 10.16%, 10.34% and 18.33% respectively.　

　　Jiang Bolong said that from 2018 to January-June 2021, the gross profit margin of the company’s main business was 7.62%, 10.71%, 11.97% and 21.59%, respectively, showing an upward trend. The changes in the gross profit margin of the company’s products were comprehensively affected by factors such as product structure, supply of upstream raw materials, fluctuation of storage market demand and changes in market competition pattern.　

　　In the second half of 2021, the purchase price of storage wafers and the sales price of storage products both fell after the rapid increase in the first half of the year, while the company’s inventory turnover days were about 3-4 months. Due to the interval between purchase and sales cycles, the change of the company’s product sales cost was lagging behind, which led to the decline of the company’s gross profit margin in the fourth quarter of 2021. It is estimated that the gross profit margin in the fourth quarter will be 14%-16%, compared with 2021.　

　　In the future, if the company’s product structure cannot be continuously optimized, the storage wafer supply or storage market demand fluctuates greatly, the market competition becomes increasingly fierce, and the product market price drops sharply, the company will face the risk of fluctuation or decline in gross profit margin.　

　　Risk of fluctuation of gross profit margin caused by fluctuation of wafer price.　

　　The main raw material of Jiangbolong products is storage wafers. From 2018 to January to June 2021, the cost of storage wafers accounted for 78.04%, 75.57%, 79.76% and 79.86% of the company’s main business cost, respectively. The market price changes of storage wafers and storage products have a great impact on the company’s gross profit margin.　　

　　Storage products with general specifications usually have an open market reference price, and the market price transmission mechanism is smooth. The change trend of the sales price of storage products is usually consistent with the change trend of the purchase price of storage wafers. However, because the unit price of product sales is affected by the market price at the point of sale and the unit cost is affected by the market price at the point of purchase, there is a production and sales cycle interval between them, and the change of product unit cost lags behind the change of product sales unit price, which makes the gross profit margin of memory manufacturers fluctuate with the fluctuation of wafer price. Other things being equal, in the rising stage of market price, the sales unit price rises before the unit cost, and the gross profit margin usually shows an upward trend; In the stage of market price decline, the sales unit price falls before the unit cost, and the gross profit margin usually shows a downward trend; When the market price is stable or fluctuating, the difference between the unit selling price and the unit cost is small, and the gross profit margin is usually stable. Therefore, due to the market price fluctuation of storage wafers during the reporting period, the company’s gross profit margin fluctuated due to the periodic interval between wafer procurement and product sales.　

　　In this context, if the market price of storage wafers rises sharply in the future, and the price increase of raw materials fails to be effectively transmitted, the sales price of the company’s products will not rise simultaneously; Or the market price of storage wafers has fallen sharply. Because it takes a certain period of time for procurement and production, the decline in product sales price precedes the decline in cost, which will cause the company to be unable to fully absorb the impact of wafer price fluctuation, so the company has the risk of fluctuation or decline in gross profit margin, which will adversely affect the company’s operating performance and profitability.　

　　The listed company Weil Co., Ltd. was the largest customer of Jiangbolong in 2018 and withdrew from the list of the top five customers in 2020.　

　　From 2018 to January-June, 2021, the sales amount of Jiangbolong to the top five customers was 929 million yuan, 1.803 billion yuan, 2.510 billion yuan and 1.789 billion yuan respectively, accounting for 21.98%, 31.51%, 34.49% and 33.74% of the total sales respectively.　

　　It is worth noting that in 2018, the largest customer of Jiangbolong was the listed company Weir, and the sales amount of Jiangbolong to Weir in that year was 315 million yuan. By 2019, Weir was ranked as the fourth largest customer of Jiangbolong, and the sales amount of Jiangbolong to Weir in that year was 236 million yuan. From January to June in 2020 and 2021, Weir withdrew from the list of the top five customers of Jiangbolong.　

　　Suppliers are relatively concentrated　

　　From 2018 to January-June, 2021, the purchase amount of Jiangbolong from the top five suppliers was 2.861 billion yuan, 3.962 billion yuan, 4.980 billion yuan and 3.879 billion yuan respectively, accounting for 73.41%, 70.37%, 71.96% and 72.40% of the total purchase amount respectively.　

　　Jiang Bolong said that the main raw material of the company’s products is storage wafers. Storage wafer manufacturing is a capital-intensive and technology-intensive high-barrier industry, with large capital investment, high technical threshold and obvious scale effect. These characteristics lead to a high concentration of global storage wafer supply and relatively concentrated suppliers.　

　　From 2018 to January-June, 2021, the company’s purchases from the top five suppliers accounted for 73.41%, 70.37%, 71.96% and 72.40% respectively. In the future, if there is a shortage of major raw materials such as storage wafers due to unexpected events such as natural disasters and major accidents, or due to geopolitical changes, trade frictions, changes in import and export and tariff policies, and cooperation relations, the major raw materials such as storage wafers required for the company’s production may not be supplied in a timely and sufficient manner, and in extreme cases, the supply may be cut off, thus affecting the stability of the company’s production and supply, which may have a major adverse impact on the company’s production and operation.　

　　Overseas sales and overseas purchases all exceed 80%.　

　　From 2018 to January-June, 2021, the overseas sales accounted for 85.24%, 85.19%, 84.74% and 83.59% respectively, and the overseas purchases accounted for 95.65%, 93.38%, 87.61% and 87.93% respectively.　

　　The company said that the scale and amount of overseas sales and purchases are relatively large, accounting for a relatively high proportion. The company’s product export and raw material procurement are mainly denominated and settled in US dollars, and the exchange rate change of RMB has a certain impact on the company’s operating performance. During the reporting period, the company’s exchange earnings were 8,886,400 yuan, 280,500 yuan, 3,356,600 yuan and-2,776,600 yuan, respectively, accounting for 0.19%, 0.99% and -0.35% of the total profits of the current period in 2019, 2020 and January-June 2021, respectively. If the RMB exchange rate fluctuates greatly due to the influence of domestic and foreign economic environment in the future, the company may face certain exchange rate fluctuation risk, which will adversely affect the company’s operating performance.　

　　From 2018 to January-June 2021, the domestic income of Jiangbolong was 624 million yuan, 847 million yuan, 1.110 billion yuan and 870 million yuan respectively, accounting for 14.76%, 14.81%, 15.26% and 16.41% of the main business income respectively.　

　　From 2018 to January-June 2021, Jiangbolong’s overseas income was 3.604 billion yuan, 4.873 billion yuan, 6.165 billion yuan and 4.431 billion yuan respectively, accounting for 85.24%, 85.19%, 84.74% and 83.59% of the main business income respectively.　

　　Jiang Bolong said that during the reporting period, the company’s main business income mainly came from Chinese mainland, Hong Kong, Macao and Taiwan, and the company’s income in Hong Kong, Macao and Taiwan was relatively high, which was consistent with industry practice. Hong Kong has a mature business environment, developed logistics system and convenient transportation conditions, and has strong advantages in resources and supporting capabilities. It has become an important international distribution center for electronic products. Considering factors such as logistics, trading habits, taxation and foreign exchange settlement, delivery in Hong Kong has become an industry practice, and some domestic customers mainly purchase through their Hong Kong branches or supply chain companies.　

　　Core technology and core competitiveness were questioned in two rounds.　

　　After long-term technology accumulation, Jiangbolong has formed 47 core technologies closely related to its business, achieved 12 achievements based on core technology research and development, and is engaged in 25 major research and development projects. In addition, Jiangbolong enhances its competitiveness through continuous technological innovation. By June 30, 2021, the company had obtained 426 valid patents at home and abroad (103 overseas patents), including 165 invention patents, won the China Patent Excellence Award twice and owned 65 software copyrights.　

　　Jiang Bolong suggested in the prospectus that the company has accumulated a number of core technological achievements and intellectual property rights through years of independent research and development, and established an internal control system related to core technologies. In the future, if the internal control system related to the company’s core technology is not effectively implemented, or the core technology is leaked due to gross negligence, malicious collusion and fraud, it may damage the company’s core competitiveness and adversely affect the company’s production and operation.　

　　The Shenzhen Stock Exchange raised questions about the company’s core technology and core competitiveness in the first round and the second round of inquiries about Jiang Bolong. These include:　

　　Combined with the substitution of DDR5 for DDR4 and the latest technology development in the storage industry, this paper explains whether the issuer’s main product types and technical routes are facing the risk of being replaced or eliminated, and gives a risk warning in the prospectus;　

　　Explain the reasons why the number of invention patents obtained during the reporting period is significantly less than that outside the reporting period, whether most of the current patents of the issuer are obsolete and have no great commercial value, and whether the core technology of the issuer is advanced;　

　　Explain the reasons why the number of invention patents applied for and obtained in the reporting period accounted for a small proportion of the number of invention patents issued by the issuer, and whether the issuer has strong innovation and creation attributes;　

　　Explain the importance of the relevant license of SD memory card to the issuer, the relevant license fee and license period, and whether it can ensure the issuer’s long-term use; Before the signing of the license agreement in June 2019, whether the issuer involved in the use of relevant licenses, and whether there were disputes or potential disputes.　

　　In 2019, related sales amounted to 114 million yuan.　

　　According to the prospectus, there are a number of related party transactions in Jiang Bolong, among which a related party sales amount reached 114 million yuan in 2019, which was for Jiang Bolong to sell storage products such as solid state drives to U Lucky International (HK) Co., Ltd. (Youxiang International (Hong Kong) Co., Ltd.). The company is an enterprise in which Xing Xiaobo, the brother of the spouse of Cai Huabo, one of Jiang Bolong’s real controllers, holds 100% of the shares.　

　　From January to June in 2018, 2019 and 2021, Jiang Bolong purchased the main control chips from Deyi Microelectronics and its subsidiaries for 15,569,300 yuan, 5,141,000 yuan and 21,972,500 yuan respectively. The company is a joint venture of Jumbo Longyuan, and part of its equity was transferred in November 2020; Li Zhixiong, director and deputy general manager of Jiang Bolong, once served as a director of the company, and retired in December 2020.　

　　In 2018 and 2018, Jiang Bolong purchased solid-state hard disks from Shenzhen Haoyouban Technology Co., Ltd. for RMB 3,826,500 and RMB 12,163,800 respectively. The company is an enterprise in which Xing Xiaoling, the eldest brother and spouse of Cai Huabo, one of Jiang Bolong’s real controllers, holds 80% of the shares and serves as the general manager and executive director, and Xing Xiaobo, the younger brother of Xing Xiaoling, holds 20% of the shares.　

　　From 2018 to 2020, Jiang Bolong purchased 21,000 yuan, 79,200 yuan and 174,500 yuan from Shenzhen Zhongdian Port Technology Co., Ltd. respectively. The company is an enterprise in which Cai Jing, director of Jiang Bolong, is a director.　

　　In 2018, Jiang Bolong purchased SSD from Sunshine Disk Trading Limited for RMB 212,600. The company is an enterprise in which Xing Xiaoling, the spouse of Cai Huabo’s eldest brother, holds 100% shares.　

　　In 2019 and 2020, Jiang Bolong purchased outsourcing accessories from Wuhu Jinsheng Electronic Technology Co., Ltd. for RMB 5500 and RMB 53000 respectively. The company is a company where Jiang Bolong’s director Zhu Yu once served as a director and retired in June 2018.　

　　In 2018 and 2019, Jiang Bolong sold storage products such as SSDs to U Lucky International (HK) Co., Ltd. (Youxiang International (Hong Kong) Co., Ltd.) for RMB 3,317,300 and RMB 114 million respectively. The company is an enterprise in which Xing Xiaobo, the brother of Cai Huabo’s eldest brother’s spouse, holds 100% of the shares.　

　　In 2018 and 2019, Jiang Bolong sold storage products such as mobile storage to Sunshine Disk Trading Limited for RMB 20,035,100 and RMB 13,083,700 respectively. The company is an enterprise in which Xing Xiaoling, the spouse of Cai Huabo’s eldest brother, holds 100% shares.　

　　From 2018 to 2020, Jiang Bolong sold storage products such as solid-state disks to Shenzhen Haoyouban Technology Co., Ltd. for RMB 6,825,800, RMB 24,214,400 and RMB 280,500 respectively. The company is an enterprise in which Xing Xiaoling, the eldest brother and spouse of Cai Huabo, one of Jiang Bolong’s real controllers, holds 80% of the shares and serves as the general manager and executive director, and Xing Xiaobo, the younger brother of Xing Xiaoling, holds 20% of the shares.　

　　From 2018 to January-June, 2021, Jiang Bolong sold 42,200 yuan, 43,500 yuan, 25,855,700 yuan and 6,895,600 yuan of embedded storage products to Shenzhen Zhongdian Port Technology Co., Ltd. respectively. The company is an enterprise in which Cai Jing, director of Jiang Bolong, is a director.　

　　From 2018 to 2020, Jiang Bolong sold storage products such as solid-state disks to Shenzhen Andaxing Technology Co., Ltd. for 1,103,800 yuan, 443,200 yuan and 169,200 yuan respectively. The company was an enterprise in which Jiang Bolong and Cai Huabo held 20% and 40% shares respectively in the first 12 months of the reporting period, and withdrew in February 2017.　

　　In 2018, Jiang Bolong sold storage products such as wireless memory to Shenzhen Yinglai Hechuang Electronics Co., Ltd. for 1,133,800 yuan. The company is an enterprise in which Cai Huabo’s eldest brother Cai Jinjiang holds 27.43% of the shares and serves as the executive director.　

　　From 2018 to 2020, Jiang Bolong sold 761,100 yuan, 12,400 yuan and 10,900 yuan of embedded storage products to Deyi Microelectronics and its subsidiaries respectively. The company is a joint venture of Jumbo Longyuan, and part of its equity was transferred in November 2020; Li Zhixiong, director and deputy general manager of Jiang Bolong, once served as a director of the company, and retired in December 2020.　

　　In 2018, Jiang Bolong sold storage products such as solid state drives to Wuhu Jinsheng Electronic Technology Co., Ltd. for 411,200 yuan. The company that changed the company to Jiang Bolong’s director Zhu Yu once served as a director has stepped down in June 2018.　

　　In 2018 and 2019, Jiang Bolong sold storage products such as wireless memory to Shenzhen Smart Bay Technology Co., Ltd. for 33,000 yuan and 10,800 yuan respectively. The company is an enterprise in which Cai Huabo’s eldest brother Cai Jinjiang holds 51.14% of the shares and serves as the general manager and executive director.　

　　Cai Huabo and Cai Lijiang, the actual controllers, have provided unlimited guarantees for wholly-owned subsidiaries.　

　　According to the prospectus, Jiang Bolong’s actual controllers Cai Huabo, Cai Lijiang and others have provided unlimited guarantees for Hong Kong Jiang Bolong, a wholly-owned subsidiary of the company.　

　　From July 29, 2015 to June 27, 2018, Cai Huabo provided unlimited guarantee for Hong Kong Jumbolong, which has been fulfilled; From June 29, 2016 to April 13, 2018, Cai Huabo, Cai Lijiang, Li Zhixiong and Netcom Technology (HK) Limited provided unlimited guarantee for Hong Kong Jumbolong, which has been fulfilled; From May 25, 2018 to August 19, 2021, Cai Lijiang provided unlimited guarantee for Hong Kong Jumbolong, which has been fulfilled; From June 27, 2018 to August 19, 2021, Cai Huabo provided Hong Kong Jiang Bolong with a guarantee of 75 million US dollars, which has been fulfilled. In addition, since January 12, 2018, Cai Huabo has continued to guarantee Hong Kong Jumbolong, which has not been fulfilled yet.　

　　In order to meet the normal capital demand under the background of the rapid development of Jiangbolong’s business, the company borrowed funds from Netcom Technology (HK) Limited and Shenzhen Jiangbolong Holdings Co., Ltd., which were controlled by the actual controllers, for temporary capital turnover. The above-mentioned capital borrowing was completed in 2018, and the interest was paid to Netcom Technology (HK) Limited with reference to the Hong Kong Interbank Offered Rate in the same period. The interest was not accrued for the capital borrowing from Shenzhen Jiangbolong Holdings Co., Ltd. due to its short term and small amount. Wang Jingyang and Bai Hongtao used personal funds as the company’s working capital outside the reporting period, and the above-mentioned funds were cleared in 2019.　

　　Jiang Bolong has twice borrowed funds from Netcom Technology (HK) Limited, amounting to US$ 4.9 million and US$ 12 million respectively; RMB 14 million was borrowed from Shenzhen Jiangbolong Holdings Co., Ltd..　

　　Outside the reporting period, Wang Jingyang and Bai Hongtao used personal funds as the company’s working capital, amounting to 3.57 million yuan and 1.42 million yuan respectively.　

　　In addition to the above matters, Jiang Bolong also has receivables and payables from related parties.　

　　The associated sales price is low. Shenzhen Stock Exchange asks whether the benefits are transferred.　

　　Shenzhen Stock Exchange’s second round of audit inquiry on Jiang Bolong shows that in 2019, Jiang Bolong sold 114 million yuan to related party Youxiang International (Hong Kong); In 2018-2019, it sold 20,035,100 yuan and 13,083,700 yuan to Hengchu Trade respectively, and sold 6,825,800 yuan and 24,214,400 yuan to friends and partners. In 2020, it will sell 25,855,700 yuan to CLP Port. The selling price of Jiangbolong to related parties is far lower than the selling unit price of similar products. For example, the selling unit price of Jiangbolong to Youxiang International in 2018-2019 ranged from 14.71 yuan/piece to 26.57 yuan/piece, while the average selling unit price of Jiangbolong’s solid-state drives in the same period was 108.74 yuan/piece and 143.28 yuan/piece.　

　　Shenzhen Stock Exchange requires Jiang Bolong to explain the fairness of related party transactions, the reason why the issuer’s sales price to related parties is much lower than the unit price of similar products, whether there is a big difference between the content and model of products sold by the issuer to the related parties and the issuer’s main product sales structure, the necessity and rationality of related transactions, and whether there is any interest transfer situation.　　

　　Jiang Bolong said in his reply that Hong Kong Youxiang is mainly engaged in the trade of electronic products such as storage, and has certain customer resources and sales channels in the field of storage products. Through cooperation with it, the company aims to expand the market sales of storage products such as solid state drives with its customer resources and sales channels, and it is necessary and reasonable to sell products to it.　

　　At the same time, in addition to selling to Hong Kong Youxiang, the company also sells the same model products to other unrelated third-party customers, accounting for about 20% of the sales to Hong Kong Youxiang, and the sales unit price is basically the same as that of unrelated third parties, so there is no interest transfer.　

　　Therefore, the difference between the sales price calculated by the company from Hong Kong Youxiang and the overall sales unit price of the company’s solid-state hard disk is mainly due to the difference in storage capacity and specifications, and the price calculated based on storage capacity is relatively small; It is necessary and reasonable for the company to sell products to Hong Kong Youxiang. The sales of the same model products to Hong Kong Youxiang account for a relatively small proportion, and the sales unit price is basically the same as that of unrelated third parties, so there is no interest transfer.　

　　When the time of equity transfer approached the end of the reporting period, it was asked whether it was obvious to regulate profits and whitewash performance.　

　　Shenzhen Stock Exchange’s first inquiry about Jiang Bolong showed that the company’s investment income from the disposal of long-term equity investment in 2020 was 107 million yuan, mainly due to the sale of a 2.61% stake in Microelectronics.　

　　In November, 2020, Jiangbo Longzi Company Tibet Yuanshi transferred 0.78% and 1.83% equity of a microelectronics company to Kaiying Venture Capital and Chuangke Town respectively. After the completion of the above-mentioned equity transfer, Jiang Bolong’s remaining shareholding ratio in a microelectronics company was 4.79%. At the same time, he no longer sent directors to a microelectronics company and did not participate in its daily operation and management activities, which was considered to have no significant impact on it. He adjusted the remaining 4.79% equity to other non-current financial assets and re-measured it at fair value. As the fair value of a microelectronics company’s equity was higher than the book value of long-term equity investment, a large amount of current investment income was recognized. According to public information, after the transfer, Jiang Bolong remains the third largest shareholder of Deyi Microelectronics.　

　　Deyi Microelectronics is mainly engaged in the design, technical development and sales of master control chips, and is the upstream manufacturer of the issuer’s industrial chain. In 2018 and 2019, Jiang Bolong purchased master control chips from Deyi Microelectronics for 15.5693 million yuan and 5.1410 million yuan.　

　　One of the questions asked by Shenzhen Stock Exchange to Jiang Bolong on the above issues is: combining the payment time and the change time of industrial and commercial registration, it shows that it is reasonable for the issuer to confirm the investment income of a microelectronic equity sold until 2020; whether there is obvious motivation to control profits and whitewash performance when the above equity transfer time is near the end of the reporting period, and whether Kaiying Venture Capital and Maker Town are related or closely related to the issuer’s actual controller, Dong Jiangao and their related parties.　

　　Shenzhen Stock Exchange asked Jiang Bolong to explain the reasons for not appointing directors to Deyi Microelectronics in the light of the current composition of the board of directors of Deyi Microelectronics and the fact that the issuer’s shareholding ratio is higher than that of the above-mentioned shareholders who have appointed directors to Deyi Microelectronics. Whether the basis for determining that the issuer has no significant influence on Deyi Microelectronics is sufficient, whether it should be determined that it has a significant influence on Deyi Microelectronics in accordance with the principle of substance over form, and whether there are cases in which a large amount of investment income is confirmed by not appointing directors and changing the accounting of Deyi Microelectronics.　

　　Jiang Bolong said in response to the two rounds of audit inquiries of Shenzhen Stock Exchange that the company’s equity transfer time was near the end of the reporting period, and it was fully considered to obtain a microelectronics equity financing arrangement, and it was determined through consultation with the counterparty that there was no motivation to regulate profits and whitewash performance, and there was no case of confirming a large amount of investment income by not sending directors or changing the accounting of Duiyimicroelectronics.　

　　Small market share　

　　According to the data released by China Flash Memory Market (CFM) and Omdia(IHS Markit), in 2020, the company ranked seventh in the global market share of eMMC products, third in the global market share of Lexar memory cards and fourth in the global market share of Lexar flash drives. According to public information, the market share of DDR5 is expected to rapidly surpass DDR4.　　

　　The Shenzhen Stock Exchange asked Jiang Bolong to briefly explain the differences in application fields, implementation functions, storage capacity and technical routes of various products of the issuer; Explain the difference between the technical level of the issuer’s main products and its main competitors, and the price difference between the issuer’s main sales price and the similar products with the same specifications of its main competitors, and analyze whether the issuer is competitive compared with its main competitors; Combined with the substitution of DDR5 for DDR4 and the latest technology development in the storage industry, this paper explains whether the issuer’s main product types and technical routes are facing the risk of being replaced or eliminated, and gives a risk warning in the prospectus.　

　　Jiang Bolong said in his reply that the global semiconductor memory market is huge, and the company’s operating income is growing rapidly, but the market share is small and there is broad room for growth.　

　　Memory, as an irreplaceable functional device in the fields of consumer electronics, communication equipment and Internet of Things, is now　

　　One of the most widely used core components in the information industry, in the global integrated circuit market, memory cores　

　　Chip has always been the product category with the largest market share of integrated circuits. According to the World Semiconductor Trade Statistics Organization　

　　(WSTS) data, the scale of the global integrated circuit industry in 2020 is 361.226 billion US dollars, of which memory cores　

　　The chip scale is $117.482 billion, accounting for 32.52% of the total scale of the integrated circuit industry.　

　　In 2018, 2019 and 2020, the company’s operating income was 4.228 billion yuan, 5.721 billion yuan and 7.276 billion yuan respectively. Based on the global semiconductor memory market size calculated by the World Semiconductor Trade Statistics Organization (WSTS), the company’s operating income accounted for only 0.40%, 0.78% and 0.90% of the global semiconductor memory market size, and its market share remained.　

　　Save a commercial secret infringement dispute litigation.　

　　Jiang Bolong has a commercial secret infringement dispute litigation. According to the prospectus, the case is in the first instance stage and is currently undergoing judicial appraisal related to the facts of the case.　

　　Trade secret infringement dispute: Jiang Bolong sued the Shenzhen Intermediate People’s Court on the grounds that the defendants Hao Lu, Zhao Ying and Shenzhen Jingcun Technology Co., Ltd. infringed the trade secret of Jiang Bolong’s testing technology. On June 22, 2020, the Shenzhen Intermediate People’s Court issued the Notice of Accepting Cases to accept the case. Defendant Hao Lu was a retired employee of Jiang Bolong and participated in the research and development of LPDDR3 testing technology. Jiang Bolong discovered that the defendant was selling products containing the above testing technology in the market at the end of 2018, so he sued the defendant to stop the infringement and jointly compensated Jiang Bolong for economic losses and punitive damages totaling 132,044,800 yuan.　

　　The subject matter involved in the above case is a test algorithm protected by Jiang Bolong in the form of trade secrets, not Jiang Bolong’s patented technology. The relevant testing algorithms are mainly used for testing LPDDR3 DRAM products. When the defendant infringes, because Jiangbolong still sells LPDDR3 products, the relevant testing technology is of certain importance. With the iterative upgrade of Jiangbolong LPDDR DRAM product line, the sales revenue and proportion of LPDDR3 decreased year by year. However, because LPDDR3 is still widely used in the low-end market, the related technologies still have great economic value for storage enterprises that mainly focus on this market.　

　　Jiang Bolong disclosed the draft prospectus on December 9, 2021, showing that as of the signing date of the prospectus, the case was in the first instance stage. At present, judicial expertise related to the facts of the case is being carried out.　

　　In addition, Jiang Bolong’s WeChat WeChat official account published a message on July 13, 2020. On July 7, 2020, the company suddenly received a lawyer’s letter from Jingcun Company, claiming that Jiang Bolong deliberately concealed the facts and framed others.　

　　Regarding the above lawyer’s letter, Jiang Bolong said that the company has sent a lawyer’s letter in time to reply, pointing out that the viewpoint of the other lawyer’s letter can’t be established at all, and reserves the right to safeguard its rights and interests by legal means.　

　　In addition, Jiang Bolong still has a labor dispute.　

　　On April 2, 2021, Jiang Bolong received the Notice of Respondent issued by the People’s Court of Nanshan District, Shenzhen, Guangdong Province. Ceng Sheng, a retired employee of Jiang Bolong, appealed for a judgment to order Jiang Bolong to fulfill the Supplementary Agreement of the Technology Transfer Framework Agreement, grant him 15,000 shares (tentatively 15,000 yuan) and bear the legal costs of the case.　

　　On December 5, 2019, Jiang Bolong signed the Technology Transfer Framework Agreement with three natural persons, including Chengdu elegant demeanour Electronic Technology Co., Ltd. (hereinafter referred to as "Chengdu elegant demeanour") and Ceng Sheng, stipulating that Jiang Bolong would receive some technologies from Chengdu elegant demeanour; On December 6, Jiang Bolong and Ceng Sheng signed the Supplementary Agreement to the Framework Agreement on Technology Transfer, stipulating that Jiang Bolong hired Ceng Sheng and others as employees, who were entitled to join Jiang Bolong’s employee equity incentive plan; On December 11th, Shanghai Jiang Bolong and Ceng Sheng signed the Labor Contract.　

　　On March 27th, 2020, Ceng Sheng and Shanghai Jiang Bolong signed the Agreement on Dissolution (Termination) of Labor Relations (hereinafter referred to as "Dissolution Agreement"), and Shanghai Jiang Bolong gave Ceng Sheng one-off compensation, and the Technology Transfer Framework Agreement, the Supplementary Agreement to the Technology Transfer Framework Agreement signed by Ceng Sheng and Jiang Bolong and the relevant equity incentives in the employment notice became invalid at the same time. On April 7th, 2020, Shanghai Jiangbolong paid all the severance compensation to Ceng Sheng in one lump sum according to the Termination Agreement.　

　　On May 17th, 2021, the People’s Court of Nanshan District, Shenzhen City, Guangdong Province ruled that the case was not an ordinary civil contract dispute but a labor dispute, and dismissed the plaintiff Ceng Sheng’s lawsuit. On May 23, 2021, Ceng Sheng refused to accept the above ruling and appealed to the Shenzhen Intermediate People’s Court. On July 8, 2021, the Shenzhen Intermediate People’s Court issued a Civil Ruling (2021) No.19702, which rejected the appeal and upheld the original ruling.　

　　In addition, Shanghai Jiang Bolong brought a lawsuit to the Yangpu District People’s Court in Shanghai for Ceng Sheng’s violation of the Agreement on Termination, requesting Ceng Sheng to return all the severance pay. On June 29th, 2021, the People’s Court of Yangpu District, Shanghai made the Civil Judgment (2021) No.11124 at the beginning of the Republic of China, and the judgment dismissed the claim. On August 10, 2021, Shanghai Jiang Bolong appealed to the Shanghai No.2 Intermediate People’s Court, and the case is still under trial.　

　　Cai Huabo, the controlling shareholder, is a witness in the bribery case.　

　　According to the prospectus, Cai Huabo, the controlling shareholder of Jiang Bolong, was involved in the case of Ji Zhen, the former deputy head of Nanshan District, Shenzhen, as a witness.　

　　According to the criminal judgment No.350 (2017) at the beginning of Guangdong 03 Criminal Sentence made by Shenzhen Intermediate People’s Court on December 18, 2017 and the Criminal Ruling No.395 (2018) at the end of Guangdong Criminal Sentence made by Guangdong Higher People’s Court on June 8, 2018, Ji Zhen supported his student Zeng Moming to start a business. Introduce to Cai Huabo that Shenzhen Huade Innovation Technology Co., Ltd. (hereinafter referred to as "Huade Company") cooperated with Jiang Bolong Co., Ltd. in SSD testing. Huade Company’s business scope includes integrated circuit business and Jiang Bolong Co., Ltd. has outsourcing cooperation in testing business with other manufacturers. Jiang Bolong Co., Ltd. signed an entrusted testing contract with Huade Company and paid the testing fee of 1 million yuan, but Huade Company failed to fulfill the corresponding contractual obligations, and this testing fee was actually occupied by Ji Zhen. Hou Jizhen was convicted of accepting bribes and corruption, and the case has been closed.　

　　Except for Cai Huabo, who assisted the public prosecution in this case, neither Jiang Bolong nor Cai Huabo was put on file for investigation or prosecution by the judicial authorities, and no criminal compulsory measures were taken. According to the Letter of Work issued by Shenzhen People’s Procuratorate on March 24th, 2021, Jiang Bolong Limited and Cai Huabo were not put on file for investigation by Shenzhen People’s Procuratorate, and were not prosecuted by Shenzhen People’s Procuratorate for suspected criminal offences. According to the Certificate of No Criminal Record issued by shenzhen public on February 8, 2021, Cai Huabo was not found to have a criminal record from March 6, 1976 to February 5, 2021.　

　　According to the refereeing document network, in the first half of 2013, Shenzhen Jiangbolong Electronics Co., Ltd. (hereinafter referred to as "Jiangbolong Company") applied to the Nanshan District Government for funding for science and technology projects, and with the help of the defendant Ji Zhen, it finally won the funding for science and technology projects of RMB 2 million. Since then, Ji Zhen asked Cai Mobo, the chairman of the company, that the company sign an entrusted test contract with Huade Company and pay the test fee of RMB 1 million. Cai Mobo agreed. On November 27th, 2013, Ji Zhen appointed Zeng Moming to sign a contract with Jumbolong Company on behalf of Huade Company. On January 6, 2014, Jumbolong Company transferred RMB 1 million to Huade Company. The contract was not actually performed, and it was a false contract. The so-called test fee was the benefit fee charged by Ji Zhen to Jiang Bolong Company, which was used by Ji Zhen for personal purchase.　

　　The testimony of the witness Zeng Moming (general manager of Huade Company) proves that one day in October 2013, Ji Zhen took Hua Mouzhi and me to visit Jiangbolong Company and introduced us to each other in the office of Cai Mobo, the head of Jiangbolong Company. A few days later, Ji Zhen asked me to go directly to Cai Mobo in the name of Huade Company, saying that there was a project cooperation between the two sides, amounting to 1 million yuan. As for the cooperation content, he did not mention it to me. After I met Cai Mobo, I asked him if he had a cooperation project of 1 million yuan. Cai Mobo said that Ji Zhen had already agreed with him, and there was no need to talk about it. Then he asked a manager surnamed Zhang from his company to come to his office to meet me specifically. I introduced the situation and left. A week later, Manager Zhang invited me to meet with Jiang Bolong Company. There were me, Manager Zhang and another manager Liu (female, in her fifties) of Jiang Bolong Company present. They put forward a contract on the spot, and the contents were not agreed, so they let me go back. Not long after, manager Zhang sent me the contract, the content of which was about testing the performance of memory. The contract was signed by manager Zhang on behalf of Jiangbolong Company. After I printed it, I signed and sealed it for Qiangmou and sent it back to Jiangbolong Company for signature and seal. At the beginning of 2014, Jumbolong Company transferred RMB 1 million to Huade Company by means of public-to-public bank transfer between companies, and Huade Company also provided corresponding invoices to Jumbolong Company.　

　　The dividend for two years is nearly 80 million yuan.　

　　According to the prospectus, Jiang Bolong distributed cash dividends of 20 million yuan and 59.3383 million yuan in April 2018 and May 2021 respectively.　

　　On April 9, 2018, Jiang Bolong’s shareholders’ meeting reviewed and approved the profit distribution plan for 2017, and distributed a cash dividend of 20 million yuan (including tax) to all shareholders.　

　　In 2019 and 2020, Jiang Bolong did not distribute dividends.　

　　On May 20th, 2021, Jiangbolong shareholders’ meeting reviewed and approved the profit distribution plan for 2020, and distributed a cash dividend of 1.60 yuan (including tax) to all shareholders for every 10 shares, totaling 59.3383 million yuan (including tax).　

　　Regarding the above cash dividends, Shenzhen Stock Exchange asked Jiang Bolong to analyze and explain the necessity and appropriateness of the relevant large cash dividends, and whether they match with Jiang Bolong’s financial situation, focusing on analyzing and explaining the rationality of Jiang Bolong’s cash dividends in the case of losses in 2018, such as the articles of association of Jiang Bolong. Explain the use of dividend funds of Jiang Bolong’s actual controller and major shareholders.　

On November 22nd, China Discipline Inspection and Supervision Newspaper published the details of the case of Wang Yong, former Party Secretary and Chairman of Yinchuan CPPCC in Ningxia Hui Autonomous Region.

Wang Yong, male, born in November 1966, used to be secretary of Yinchuan Municipal Committee of the Communist Youth League, director of Yinchuan Tourism Bureau, deputy secretary-general of the municipal government, director of the general office of the municipal government, deputy director of the Standing Committee of the Municipal People’s Congress, deputy secretary of the Party Group of the Standing Committee of the Municipal People’s Congress, deputy mayor of the municipal government, standing Committee member and secretary-general of the Municipal Committee, and secretary and chairman of the Party Group of the CPPCC. In April 2022, the official announcement was investigated.

Since he was promoted to a leading cadre at the department level in 2000, Wang Yong has served as the "top leader" of more than 10 municipal departments. He should have rewarded the organization for training and doing his job well, but he began to get used to being served. "Go out with a car, take the door with water to drink. Every day, some people make tea early, clean up, and put the documents to be processed neatly on the table, and then there is an endless stream of people asking for instructions and reporting. In the evening, it is a variety of dinner parties and decent scenery. It has lived into a regular mechanical numbness. " Wang Yong wrote in his confession.

According to the report, after entering the leadership position, Wang Yong regarded the hunting of unscrupulous businessmen as "human relations", and he thought it was necessary to find his own "trustworthy friends". According to the investigators, the vast majority of bribers involved in the case are Wang Yong’s "fellow villagers", "friends" and "colleagues". He spread out as a "fellow villager circle", built a "circle of friends" around him that he thought was safe and reliable, trained a group of "younger brothers" and used his power to undertake projects for them, thus blending interests.

Wang Yong and Su have known each other for 26 years. This "friendship" began with friendship and ended with benefits. Previously, Su had originally set up a stall to sell kebabs downstairs in Wang Yong. After working overtime, Wang Yong often went to his stall to eat supper, and he became familiar with it in the long run. In 2012, Su Mou found Wang Yong, then secretary-general of Yinchuan Municipal Government, for her daughter’s enrollment, and gave her some "benefits". Wang Yong thought Su Mou was honest, so she agreed to help and accepted the "benefits" from her. Since then, the relationship between them has changed. Wang Yong took a fancy to its "reliability" and simple social relations, so he cultivated it as a "little brother".

Since then, Su Mou relied on Wang Yong’s "care" and his business has been flourishing. Su also "reciprocated", and Wang Yong’s new house was to be renovated. He immediately paid 300,000 yuan for the renovation; Wang Yong’s wife was going abroad, and he lost no time in sending 5,000 dollars. From cleaning in Wang Yong’s home to buying mops and repairing faucets, Su made every effort to "do a good job", and his "long-term investment" in Wang Yong also allowed him to quickly accumulate tens of millions of net worth.

After seeing Wang Yong as the deputy mayor in charge of water conservancy work, Su proposed "I want to do some water works", and Wang Yong readily agreed, feeling that he should "return the favor". Through the operation of Wang Yong, Su won the bid for a water project. After winning the bid, he immediately sent 800,000 yuan in cash to Wang Yong, and Wang Yong readily "accepted it". Then, Su won the bid for the second and third projects in succession, and once again offered 200,000 yuan and 500,000 yuan. According to statistics, Su used "making money equally" as bait to bind Wang Yong’s interests and feelings, and gave Wang Yong nearly 2 million yuan in property for many times.

In April 2022, Wang Yong was examined and investigated by the Supervision Committee of the Commission for Discipline Inspection of Ningxia Hui Autonomous Region on suspicion of serious violation of discipline and law, and was taken lien measures.

After investigation, Wang Yong has received more than 700,000 yuan in gifts and 10,000,000 yuan in bribes, including 9,900,000 yuan in bribes from 16 units and individuals for 39 times after the 18th CPC National Congress.

In September 2022, Wang Yong was expelled from the party and expelled from public office; The suspected crime was transferred to the procuratorate for review and prosecution according to law. In December 2022, Wang Yong was sentenced to 10 years and 6 months in prison and fined 800,000 yuan for accepting bribes.

Wang Yong, who was once proud of the horseshoe disease and had rich resumes as the "top leader" of more than 10 departments, failed to keep his original heart and cherish the training and exercise of the organization, and completely embarked on the road of no return in the pursuit of pleasure and crazy wealth collection.

Source: Chang ‘an Street Governor WeChat (ID: Capital News) and China Discipline Inspection and Supervision News WeChat (ID: zgjjjcb)

Original title: "The details of the case of Wang Yong, the former chairman of Yinchuan CPPCC: training the" little brother "who sells kebabs"

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