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.

company profile

　　Motorola Inc, formerly known as Galvin Manufacturing Corporation, was founded in 1928. In 1947, it was renamed Motorola, and it has been used as a trademark since 1930s. Headquartered in schaumburg, Illinois, USA, it is located in the suburb of Chicago. One of the top 100 fortune companies in the world, it is a global leader in chip manufacturing and electronic communication. On August 15th, 2011, Google announced that it had signed a final agreement with Motorola Mobility, and it would acquire the latter in cash of $40 per share, with a total price of about $12.5 billion. The transaction has been approved by the boards of directors of the two companies.

product

　　Most of Motorola’s products are related to radio, from the battery rectifier of radio to the world’s first wireless walkie-talkie, defense electronics and mobile phone manufacturing. Another strength of the company is semiconductor technology, including chips used in computers.

　　Motorola is the main supplier of microprocessors used in Apple’s Power Macintosh personal computers. The PowerPC series chips used are jointly developed with IBM, and they have maintained cooperative relations with Apple (the AIM alliance was established). Motorola has another product line of communication products, including satellite systems, digital cable boxes and modems.

　　Motorola has a famous patented voice technology called CrystalTalk.

Development history

　　On October 6th, 2003, Motorola announced that it would partition its semiconductor business into an independent company called Freescale. Freescale shares will be listed on the new york Stock Exchange on July 16th of next year.

　　2008 is the 25th anniversary of Motorola’s launch of the world’s first commercial mobile phone.

　　On September 10th, 2009, US time, Motorola released CLIQ/DEXT, the first Android phone. CLIQ preloaded Motorola’s self-developed MOTOBLUR interface, focusing on online social functions. On November 6th, Motorola and American telecom companies Verizon Wireless and Google jointly released the world’s first Android 2.0 mobile phone -Droid by Motorola. The GSM version of Droid is called Milestone.

　　On February 13th, 2010, Motorola plans to split the company into two parts in the first quarter of 2011, one is Mobile Devices and Home, and the other is enterprise mobility solutions and networks. These two businesses will become independent companies, and the Motorola brand name will be used.

　　On January 4th, 2011, Motorola was officially split into two independent listed companies: Motorola Mobility (NYSE:MMI) and Motorola Solutions (NYSE:MSI).

　　On August 15th, 2011, Google announced the acquisition of Motorola Mobility for $12.5 billion in cash.

China business

　　Motorola entered China in 1987 and first set up an office in Beijing. In 1992, Motorola (China) Electronics Co., Ltd. was registered in Tianjin. At present, its main products are mobile phones, walkie-talkies, wireless communication equipment, automotive electronics, etc. The products are sold to China and other markets in the world.

　　At present, there are 3 wholly-owned enterprises, 1 holding company, 16 R&D centers, 5 joint ventures and 22 branches in Chinese mainland. Sixteen R&D centers are located in Beijing, Tianjin, Shanghai, Nanjing and Chengdu, with about 2,000 R&D personnel, making them one of Motorola’s world-class R&D centers.

　　On July 13th, 2006, Motorola officially opened its first flagship store in Shanghai. On November 14th, Motorola announced the establishment of a wireless broadband China research center in Beijing.

　　2007 is the 20th anniversary of Motorola’s entry into China. In China, Motorola has become a well-known brand and a leader in the mobile communication market in China. 2007 is also the 15th anniversary of Motorola’s investment in Tianjin. On November 9th, Motorola (China) Finance Co., Ltd. was approved by China Banking Regulatory Commission and established in Tianjin Binhai New Area. The registered capital of this company is 100 million yuan, and the main purpose of its establishment is to better meet and promote the needs of Motorola’s business development in China.

　　On November 7, 2008, China Enterprise and many other domestic and foreign institutions in China jointly held the "Growing with China — — The High-level Forum for Multinational Corporations to Commemorate the 30th Anniversary of Reform and Opening-up was held in Beijing, and the forum issued "Glory and Responsibility — — In the 2008 China Contribution List of Multinational Corporations, the top 20 multinational corporations were awarded the "Special Award for the Contribution of Multinational Corporations in China in the Thirty Years of Reform and Opening-up", and Motorola (China) Electronics Co., Ltd. topped the list.

　　In 2011, Google announced the acquisition of Motorola’s communication business, but retained its brand.

On July 5th, Xizang Autonomous Region Investment Promotion Conference was held in Chengdu. At the promotion meeting, 7 cities and some counties in Xizang Autonomous Region introduced the project and signed contracts with 23 enterprises.

It is reported that the promotion conference signed 23 projects with a total investment of 8.38 billion yuan, mainly involving cultural tourism, clean energy, green industry, modern service industry, agriculture and animal husbandry with plateau characteristics and other fields, including cold-resistant green new building materials projects, Lhasa Health Science and Technology Service Industrial Park projects, Linzhi Yida Biotechnology Industrial Park projects, Bangor County Bendor hot spring water development projects and other projects.

▲ Potala Palace in Lhasa

Chen Yongqi, deputy secretary of Xizang Autonomous Region Party Committee and executive vice chairman, said at the promotion meeting that Tibet has many development conditions and comparative advantages after years of development.

First of all, the infrastructure is improving day by day. Following the opening of the Qinghai-Tibet Railway, the Fuxing motor train galloped on the snowy plateau last year, and the whole line of sichuan-tibet railway started construction, with a mileage of more than 120,000 kilometers. The expressway from Lhasa to major cities was completed and will be completed soon. Five transportation airports and three airports under construction have been built, and two were put into operation during the year, with 150 international and domestic routes and 68 navigable cities. A comprehensive three-dimensional transportation network extending in all directions is taking shape. The pace of electric energy development has been accelerating. The Qinghai-Tibet and Sichuan-Tibet power interconnection projects have been completed and put into operation. Tibet has been connected to the national power grid, and 74 counties and districts have achieved full coverage of the main power grid. Groups of power points are being accelerated, and energy advantages are gradually emerging. The functional layout of the park carrier was continuously optimized. Based on the advantages of natural endowment and development orientation, 16 industrial parks of all levels and types have been built in the whole region, providing an important platform for resource elements gathering and economic development.

At the same time, the advantages of characteristic resources are obvious. The exploitable amount of clean energy in Tibet exceeds 1 billion kilowatts, including 177 million kilowatts of hydropower, with an average annual sunshine duration of more than 3,000 hours, 700 million kilowatts of solar energy, 180 million kilowatts of wind energy, geothermal energy of more than 1 million kilowatts, and pumped storage capacity of about 74 million kilowatts, among which the exploitable amount of water, light and heat energy is the highest in China, and the overall development is less than 1% at present. Tibet has a long history of culture, including not only the Potala Palace, Jokhang Temple and other world cultural heritages, but also unique natural scenery such as blue sky and white clouds, green mountains, glaciers and snow. It is a tourist attraction with scenic spots all over the world and scenery all year round. Tibet’s agricultural and pastoral products are not only of high quality, green and natural, but also some varieties have considerable scale advantages. For example, the output of highland barley accounts for more than 60% in the country, the forest land area is nearly 18 million hectares, the grassland area is 1.2 billion mu, and there are more than 9,600 kinds of wild plants. Cordyceps sinensis, wild Ganoderma lucidum, Tricholoma matsutake, Gastrodia elata and Tibetan fragrant pigs are well-known at home and abroad. More than 100 kinds of minerals and more than 300 mineral sites have been discovered in Tibet, of which copper mines account for more than 60% of the country’s reserves, ranking first in the country, and salt lake lithium mines rank second in the country.

In addition, Xizang Autonomous Region is making great efforts to create a business environment with "the least approval items, the shortest approval time, the best approval process and the best approval service".

Red Star journalist Peng Jing

Editor’s Note: Food is the material basis for human survival, and it supplies all kinds of nutrients necessary for human body. The quantity and quality of nutrients contained in different foods are different. Therefore, whether the food composition in the diet is reasonable, that is, whether the quantity and quality of nutrients provided are appropriate and whether the proportion is appropriate, is very important for maintaining the physiological function, growth and development, promoting health and preventing diseases.

The third week of May is "National Nutrition Week". In order to further popularize the concept that "nutrition is a good doctor", we specially invited nutrition experts to deeply interpret the theme of this nutrition week, "Milk beans add nutrition, less oil is healthier", and promote nutrition and health knowledge to enter thousands of households. This year, the theme of Nutrition Week "Milk beans add nutrition, less oil is healthier" aims to guide the public to pay attention to the nutritional value of milk and beans, and emphasize the importance of reducing oil intake for health.

There are many kinds of nutrients from food, and about 40 kinds are needed by human body. According to their chemical properties and physiological functions, they are divided into five categories, namely, protein, lipids, carbohydrates, minerals and vitamins. Nutritional intake is necessary to maintain the normal function of the immune system and plays a key role in improving immunity. Immunity is an important mechanism for the body to fight pathogens and maintain health. Nutrition affects the development and function of the immune system, and nutrition has a vital impact on the development and function of the immune system. Various nutrients, such as vitamins, minerals, protein and fat, are involved in the formation and activity regulation of immune cells, which is very important for the normal operation of immune response. Immune cells are the core components of the immune system, including T cells, B cells, macrophages and natural killer cells. These immune cells need proper nutritional support to maintain their normal functions. For example, protein is the basic component of immune cells, while vitamins and minerals play an important role in regulating the activity of immune cells and resisting pathogens. Nutrition can also produce antioxidants in the body. Antioxidants such as vitamin C, vitamin E and β -carotene are helpful to reduce the production of free radicals and protect immune cells from oxidative damage. Adequate intake of foods rich in antioxidants is helpful to maintain the healthy state of immune cells and improve immunity.

Adequate nutrition intake is very important for maintaining the normal function of immune system and improving immunity. By ingesting foods rich in vitamins and protein, diversifying food choices, controlling the intake of sugar and salt, and adopting a healthy lifestyle, we can provide adequate nutritional support, enhance immunity and keep healthy. It is important that these measures should become part of our daily life, not just short-term behavior. By adhering to healthy eating habits and lifestyles for a long time, we can improve our immunity, reduce the risk of diseases and enjoy a healthier life.

Adding nutrition to milk beans: the perfect combination of high-quality protein and comprehensive nutrition

As an important source of high-quality protein, the nutritional value of dairy food can not be ignored. Animal milk, such as milk, goat milk and camel milk, is rich in essential amino acids needed by human body and has high biological value. In addition, milk food is rich in minerals and vitamins such as calcium, phosphorus and vitamin D, which plays an important role in promoting bone health and preventing osteoporosis. Lactose in milk can also promote the absorption of minerals such as calcium, iron and zinc. Adequate intake of milk and dairy products is beneficial to human health, especially to muscle and bone health. It is recommended to consume 300-500 ml of liquid milk or a considerable amount of dairy products every day. At present, the actual intake of most residents in China is far below the recommended amount, and more intake is encouraged.

It can increase the intake of milk and dairy products in many ways, such as adding it in baking, stewing and other cooking processes, which is nutritious, healthy and delicious. When choosing milk and dairy products, look at the ingredient list and nutrition label first, and you can’t replace milk with milk-containing drinks. Lactose-intolerant people can choose lactose-free and low-lactose milk or fermented dairy products such as yogurt and cheese; Overweight, obese and hyperlipidemia people can choose skim milk or low-fat milk.

As an outstanding plant food, bean food also has rich nutritional value. Soybean, mung bean and red bean are rich in protein, dietary fiber, minerals and vitamins. Soybean, in particular, has a protein content of over 40%, and its amino acid composition is close to human needs, so it is a high-quality plant protein source. In addition, dietary fiber in legumes plays an important role in promoting intestinal peristalsis and preventing constipation. Soybean products are usually divided into non-fermented bean products and fermented bean products. Non-fermented bean products include bean curd, soybean milk, dried bean curd, bean curd skin, yuba, etc., which are made by soaking, grinding, deslagging, boiling and molding. Fermented bean products, such as fermented bean curd, douchi, bean paste and soybean sauce, are usually fermented by microorganisms, thus having a unique flavor. Soybean is rich in protein, unsaturated fatty acids, calcium, potassium and vitamin E, which is suitable for all people. It is suggested that adults consume an average of 15-25 grams of soybeans or equivalent amounts of soybean products every day. Soybean and its products are an important food source for vegetarians in protein, and they should be taken in sufficient amount every day. The average daily intake of vegetarian people should be 50-80 grams, and that of egg white people should be 25-60 grams.

The nutritional advantages of the combination of milk and beans are very prominent. High-quality protein, minerals and vitamins provided by dairy foods complement each other with dietary fiber, plant protein and other nutrients in bean foods, forming a comprehensive and balanced nutritional system. This kind of nutrition collocation is helpful to meet the human body’s demand for various nutrients and promote health.

Less oil is healthier: scientific diet helps healthy lifestyle

Too much oil intake is harmful. Oil is one of the important nutrients needed by human body, but excessive intake will have adverse effects on health. Excessive oil intake will lead to excess energy and increase the risk of chronic diseases such as obesity, hypertension and hyperlipidemia. In addition, the oxidative decomposition of oil in the body will produce harmful substances such as free radicals, which will cause damage to cells and accelerate the aging process. There are four ways to reduce and control oil in the kitchen. First, use less animal fat, and vegetable oil is recommended for cooking. The nutritional composition of different cooking oils is different, so change the varieties appropriately when purchasing cooking oils. The second is to use an oil control pot to reduce cooking oil. You can use a graduated oil control pot for home cooking, and use oil quantitatively and control the total amount. It is suggested that adults should consume 25-30 grams of cooking oil every day. The third is healthy cooking to cultivate a light taste. When cooking, try to use less oil methods such as steaming, boiling, stewing, stewing and cold salad to avoid high-oil cooking methods such as frying and frying. This can not only reduce the oil intake, but also keep the original flavor of food, which is more conducive to health. The fourth is to control the temperature and oil temperature. When cooking, we should pay attention to control the temperature and oil temperature, so as to avoid the oxidation of fatty acids in food caused by too high oil temperature and generate compounds harmful to human body. At the same time, too high oil temperature can easily cause food to burn and produce harmful substances.

In order to maintain a healthy lifestyle, we should control oil intake scientifically and reasonably. First of all, we should reduce the intake of saturated fat and trans fat, such as animal fat and fried food; Secondly, it is necessary to increase the intake of foods rich in unsaturated fat, such as olive oil, nuts, fish, etc.; Finally, we should pay attention to the cooking methods of food, and try to choose low-oil cooking methods such as steaming, boiling and stewing to reduce the use of oil.

In addition, we can reduce the fat content of the whole diet by increasing the intake of low-calorie and high-nutrient foods such as vegetables, fruits and whole grains. These foods are rich in nutrients such as dietary fiber, vitamins and minerals, which help to promote intestinal health, improve immunity and prevent chronic diseases.(Liu Lingying, Zhao Shuanglin)

Special topic: picture channel

Luan Jujie expressed his heartfelt thanks to the people of the motherland with a picture of "Good Motherland". Photo courtesy of CFP

　　On August 3rd, 1984, Luan Jujie won the gold medal in women’s foil individual competition in the 23rd Los Angeles Olympic Games, becoming the first Asian to win the gold medal in Olympic fencing. The picture shows Luan Jujie trying his sword before the final. (data picture)

　　Twenty-four years ago, in Los Angeles, where Xu Haifeng won the first Olympic gold medal for the China delegation, 26-year-old Luan Jujie became the first female swordsman in China history, which is the only Olympic gold medal in China fencing history so far.

　　Luan Jujie, who has been away from the competition for 20 years, participated in the women’s foil individual competition as an athlete on behalf of the Canadian team today. Although she stopped at the top 32, she moved everyone present with her actions. A picture of "The motherland is good" expressed her deep gratitude, and she cried all the people who interviewed her for her love for her daughter with congenital heart disease.

　　Special correspondent for this topic Min Yang, Beijing, August 11th.

　　Luan Jujie’s competition was held at 11: 00 a.m., dressed in a snow-white sword suit, wearing a mighty shield and holding a shining sword. The 50-year-old female swordsman had just appeared, and the cheerleaders in the stands had already flashed the words of refueling.

　　The traces left by the years on Luan Jujie are only reflected in her slightly chubby figure, and the changeable movements in her hands and the flexible pace of movement seem to make people see the dashing and heroic spirit of her eyebrows and swords drawn out at the Olympic Games 24 years ago.

　　In the face of Tunisia’s rival Bubeck, who won the African championship, Luan Jujie patiently responded, "I have been telling myself to be calm. I know that she is less than 20 years old and has been practicing sword in France, but she doesn’t even say hello every time she meets me."

　　What the opponent lacked was the basic demeanor of the swordsman. Luan Jujie seized this psychological weakness and won 13-9 and became one of the top 32. In the eyes of her husband and three children who came to cheer on the scene, Luan Jujie should be the best.

　　Hand-made "Good Motherland" banner before departure.

　　Luan Jujie, who successfully advanced, didn’t leave the stadium immediately. She slowly took out a red and yellow banner from her backpack with the words "Good motherland" written on it. The banner is so big that Luan Jujie’s upper body is almost covered in order to hold it high. After showing a circle, she left with satisfaction. Many spectators at the scene were moved to tears after seeing the banner, and their applause for Luan Jujie became more and more enthusiastic.

　　Although she lost to the Hungarian opponent in the 1/16th final at noon, Luan Jujie won the respect of the audience. All the media waiting at the scene rushed to interview her. Seeing that the reporters in the mixed interview area had stood three floors away, the leader of the Canadian fencing team decided to borrow a press conference hall.

　　Luan Jujie brought her husband, Gu Da, to the press conference. Whenever a Canadian reporter asks questions, she answers them in fluent English. If a reporter from China asks questions, she answers them in Chinese. What everyone is most curious about is how she thought of showing this "good motherland". It turned out that this banner was made by her own hands, and she made it well before departure, ready to show it to the world at the opening ceremony.

　　"Originally, I was one of the four candidate flag bearers of the Canadian delegation, but I didn’t choose it later, but the regimental headquarters said I could stand in the first row and enter. I was going to open this banner at the opening ceremony, but later, the regimental headquarters stipulated that all members should not display any slogans during the admission process, otherwise they would be expelled. I think I have made such great efforts to participate in the Olympic Games and I can’t be expelled like this. " Luan Jujie later brought the banner to the opening ceremony, but she didn’t take it out until the whole delegation entered the prescribed area. "The banner was too big, covering my face. It was lifted by people from our regiment and I took a photo."

　　Luan Jujie set another time to show "the motherland is good" after today’s first appearance. "I dedicated my youth to the country. It was the party and the country that trained me. If I didn’t go abroad, I might not feel how happy I am as an athlete in China." Luan Jujie said that it was the wandering overseas for more than 20 years that made her fully feel how superior the conditions for representing China in the competition were. "I printed this banner just to thank my motherland for training me and let me practice such a good technology. I want to use the stage of the Beijing Olympic Games to express my heartfelt thanks to the people of the motherland."

　　Open fencing school in Shanghai after the Olympic Games.

　　Luan Jujie believes that it is not important which country she represents. What is important is to show the Olympic spirit. "I have made up my mind. After playing the first game, I will take this opportunity to thank all the audience regardless of winning or losing. I have already earned it."

　　Luan Jujie knew that there were many spectators cheering for him today. "I feel that what they care about is not my winning or losing, but encouraging me:’ You are so old, you must hold on.’ What I want to show is that I am still young, and I don’t look like 50 years old. "

　　Luan Jujie prepared for the Beijing Olympic Games for 15 months, and even took part in nearly 10 points races with his own pocket, which cost nearly 100,000 RMB. "If the Olympic Games were not held in Beijing, I would never take part. After all, I have retired for 20 years. My starting point is that the motherland sent a team to participate in the Olympic Games for the first time, and I participated. This is the first time that the motherland has hosted the Olympic Games. I also want to show young people that the reason why I can stand in the Olympic Games is accumulated through years of hard training. "

　　Luan Jujie intends to open a fencing school in Shanghai after the Beijing Olympic Games to contribute to the development of fencing in China. "I was in China for more than 20 years before, and I was in Canada for more than 20 years after. It is estimated that I will be half in China and half in Canada in the next 20 or 30 years."

　　Stay in a foreign country for my daughter.

　　When Luan Jujie explained why she flashed a banner, many reporters were red-eyed. Then, when she talked about why she moved to Canada far away from her native land, she directly cried herself and all the reporters around her, because she mentioned her eldest daughter with congenital heart disease.

　　Luan Jujie has three children named Gu Mengjia, Gu Mengyuan and Gu Hongtao. Luan Jujie was 33 years old when she was pregnant with her eldest daughter. When she gave birth to her daughter by caesarean section, she was told that her child had congenital heart disease before she had time to experience the feeling of being a mother for the first time.

　　Originally, Luan Jujie went to Canada because her husband went abroad to do business. Her original intention was to learn French well so that she could be a referee in the future. "Because I was misjudged by the referee when I was competing, I felt that China could not be without people in the International Sword Federation. I wanted to learn a foreign language well and then seek development in it."

　　The eldest daughter had 10 operations to replace the pacemaker.

　　Unexpectedly, her daughter’s illness forced her to choose to live in Canada for a long time. "This happened to the boss, and he began to put in a pacemaker at the age of two. Later, the operation to replace the pacemaker was done 10 times. I sent her to the operating room repeatedly. It can be said that not many parents came like us, but it was really difficult …" At some point, Luan Jujie began to choke.

　　At that time, she insisted on carrying her eldest daughter home, although the doctor predicted that her life would not exceed 6 years old. But now, her eldest daughter is 16 years old. "After so much experience, I feel that nothing is more important than life. The medical conditions in Canada are more suitable for her, so we stayed."

　　In order to take care of her daughter, Luan Jujie’s family has become a "woman in charge and man in charge". Her husband takes care of the children at home, and she works hard outside.

　　In Canadian fencing, Luan Jujie is a famous figure, and more than 60% of the medals are won by her disciples every year. She is rated as an excellent coach by the Canadian Fencing Association every year. The "Luan Jujie Fencing Open" is also held permanently in Canada as an annual event. "Today, when I return to my motherland, I want people to know that I have not humiliated Chinese. I have been recognized in Canada, and I am Chinese wherever I am."

　　Today, all three children in Luan Jujie went to the scene to cheer for their mother, and the second daughter also attended the press conference. Everyone just didn’t realize that the pretty girl around him was Luan Jujie’s second daughter.

Editor: Wang Jiaolong

Yichexun According to domestic media reports, the annual sales target of the international community in 2024 is 600,000 vehicles. In addition, AITO will launch the new M5 in the first half of next year and the new M8 in the second half of next year.

With the listing of AITO, there are currently three models of M5, M7 and M9 on sale. In the second half of next year, there will be a brand-new model M8, which will ensure that at least four models are on sale. At the beginning of this year, when Cyrus signed a joint business deepening cooperation agreement with Huawei, the two sides set the production and sales target of new energy vehicles as 1 million in 2026.

According to statistics, more than 68,000 vehicles have been delivered from January to November in 2023. According to the latest official data, the M9 has exceeded 10,000 units within two hours of listing, and the cumulative order volume has reached 54,000 units. At present, the large order is still rising, and the first batch of exhibition cars have arrived in 89 cities across the country, with a total of 252 stores. In addition, the total number of new M7 in the world has exceeded 120,000, and the monthly delivery capacity has reached 30,000. (Source:Late Auto)

Open the Easy Car App, click "Intelligent Measurement" on the home page, learn about the hot new car technology highlights from multiple angles, and get the authoritative reference for purchasing smart electric vehicles.

What I bring to you today is a-. As for the outstanding performance of the car, please read it together.

Let’s take a look at the appearance of the Audi SQ7 first. The front of the Audi SQ7 looks very fashionable and sporty. Coupled with sharp headlights, the design took the sports route. The car is equipped with LED daytime running lights, automatic opening and closing, adaptive far and near light, automatic steering, delayed closing, rain and fog mode and so on. Coming to the side of the car body, the size of the car body is 5066MM*1970MM*1701MM, and the car adopts clean lines, which gives people a very simple and generous feeling. With large-sized thick-walled tires, it looks full of sports. In the rear part, the rear looks atmospheric, the taillights are very comfortable, and with the unique exhaust pipe, the sense of neatness is vivid.

Sitting in the car, the interior of Audi SQ7 presents a tough design style, which meets the aesthetic standards of young people. The steering wheel of this car is very fashionable and made of genuine leather, which gives people a bright feeling. From the central control point of view, the car is decorated with a domineering touch-sensitive LCD central control screen, which makes the interior style impressive and very consistent with the temperament of the car. Finally, let’s take a look at the dashboard and seats. The dashboard of the car presents a cool design style and the shape takes the sports route. The car uses leather seats, the seats are wrapped in place, the materials are exquisite and the ride is comfortable.

Audi SQ7 is matched with an automatic manual transmission (AT) gearbox, with a maximum power of 373KW and a maximum torque of 770N.m, with good power performance.

The car is equipped with car networking, driving mode selection, remote control key, rear wiper, interior atmosphere light and other configurations, which fully ensures the convenience and comfort of the car experience.

Summary of the full text: such a car with the right price is enough to meet the daily practical needs, and it doesn’t take much thought to maintain it at ordinary times, and the price is good.

Original Zhi Ling Jie’s children’s medicine circle

We often say that the full name of the flu is influenza. The symptoms of the flu are similar to those of the common cold, accompanied by high fever (above 39℃), sore throat, cough, sneezing, runny nose, headache, muscle pain, general fatigue and other symptoms. Compared with the common cold, the flu has a faster onset, stronger infectivity and more serious symptoms. Vaccination is an effective measure to prevent influenza virus. Children aged 6 months to 2 years are high-risk groups, so parents are advised to actively vaccinate their children. September-October is the best time to vaccinate them. Parents should pay attention to the arrival of local influenza vaccines and make an appointment in advance. Recently, many parents have consulted some questions about influenza vaccine in the background, and summarized them, hoping to help everyone.

Will influenza vaccination reduce immunity?

Influenza vaccine will not reduce immunity.

Under normal circumstances, the human body is not immune to influenza virus. It is suggested to vaccinate against influenza every year because vaccination can enhance the "immunity". However, with the passage of time, the protective power of the vaccine gradually weakens and the immunity returns to the normal level, not because the vaccine reduces the body’s immunity.

Is trivalent good or tetravalent good?

At present, China’s "influenza virus split vaccine" and "influenza virus subunit vaccine" are trivalent, and "tetravalent influenza virus split vaccine" is tetravalent.

Four-valent inactivated vaccine has one more protection of influenza B virus than trivalent inactivated vaccine, so it is suggested to choose tetravalent inactivated vaccine first. However, if there is only trivalent vaccine in the local area, it is not recommended to postpone vaccination in order to wait for tetravalent vaccine.

It is best to use the same vaccine to complete the vaccination procedure in the same flu season, but if the first vaccine is out of stock, other vaccines can be used to complete the vaccination procedure, such as the first vaccine is tetravalent, the second vaccine is trivalent, or the first vaccine is viral, and the second vaccine is subunit, or vaccines from other manufacturers can be used.

Why do you get the flu after vaccination?

There are many types of influenza viruses, and influenza vaccines only cover the most common types, so the efficacy against influenza is not 100%;

The incubation period of influenza is usually 1~4 days. If you are infected before you produce enough antibodies, you may get the flu.

Other diseases such as the common cold can produce flu-like symptoms, and flu vaccines can’t prevent these diseases.

How many doses should I get the flu vaccine?

Children and adults over 9 years old only need one dose even for the first time;

Children ≥6 months and < 9 years old should receive 2 doses of influenza vaccine for the first time (at least 4 weeks apart, not both doses at one time); If the first dose was inoculated at the age of 8 years and 11 months, the second dose should be inoculated after 4 weeks;

Children ≥6 months and < 9 years old have been vaccinated with one dose of influenza vaccine in the past. Both China’s CDC and the Hong Kong Department of Health recommend one dose this flu season, while the US CDC recommends two doses.

Children ≥6 months and < 9 years old who have been vaccinated with two doses of influenza vaccine in the past (trivalent or tetravalent, whether they were vaccinated in the same flu season or two consecutive flu seasons) and the interval is ≥4 weeks, only one dose is required in this flu season. In other words, two doses of trivalent vaccine were inoculated before, and one dose of tetravalent vaccine was enough for the first time this year.

Can I get an "adult dose" if I am under 3 years old?

Children under the age of 3 can be vaccinated against influenza. Sometimes there is no vaccine under the age of 3 in the local area, so the staff may say that they can’t fight.

"Adult dose" influenza vaccine refers to a vaccine with a dose of 0.5 mL, and some vaccine instructions believe that the vaccine is used for adults and children over 36 months old. Although the experiment shows that there is no significant difference in safety, reactivity, local or systemic adverse reactions between children aged 6-35 months using 0.5mL dose and using 0.25mL dose of tetravalent inactivated influenza vaccine (IIV4), they should still be vaccinated at the age suggested in the instructions.

Note: The concept of "dosage" is different from that of "dosage times". The influenza vaccine listed in China, 0.25 mL dose is suitable for children aged 6~35 months, and 0.5 mL dose is suitable for children and adults aged 3 years and above. Children who need two doses of 0.25 mL influenza vaccine should be divided into two doses with an interval of ≥4 weeks (28 days), instead of one dose of 0.5ml..

How long should the interval between the second and first doses be?

The contents of the instructions are usually based on the results of clinical trials, and it is suggested that the interval between two stitches should be 2~4 weeks. The guidelines are recommended based on the latest research data, and it is recommended that the interval be at least 4 weeks. For children who need two injections, the instructions in the guide should prevail, and the interval should be at least 4 weeks.

Antibodies with protective level can usually be produced after 2~4 weeks of influenza vaccination. If the interval between the second dose and the first dose is more than 4 weeks, the time to produce antibodies with protective level will be delayed accordingly, but the final effect will not be affected. Just make up the second dose as soon as possible.

Can I take anti-influenza drugs after vaccination?

Inactivated influenza vaccine can be inoculated during the prevention and treatment of influenza antiviral drugs. However, live attenuated influenza vaccine should not be inoculated within 48 hours after using influenza antiviral drugs;

If you have been vaccinated with live attenuated influenza vaccine, you should not use antiviral drugs to prevent influenza within 14 days (if necessary, you can treat it) because antiviral drugs will affect the immune effect of live attenuated influenza vaccine.

Original title: "Parents are most concerned about these issues about influenza vaccine"

Read the original text

　　People’s Daily Online, Beijing, April 27 (Reporter Qin Boya) After selecting 8,890 villages and 237,000 rural laborers from 1,527 counties (districts) in rural areas of 31 provinces (autonomous regions and municipalities directly under the Central Government) as survey samples, and conducting quarterly surveys in the form of household visits, the National Bureau of Statistics released the 2017 Migrant Workers Monitoring Survey Report on the 27th. According to the Report, 96.7% of migrant workers’ parents believe that their children are not discriminated against at school, but 55.8% of migrant workers’ parents report that their children in the compulsory education stage face problems such as high cost, difficulty in entering local schools, and no one to take care of their children.

　　The relevant contents of the Report are as follows:

　　The enrollment rate of children aged 3-5 (including preschool classes) was 83.3%, an increase of 0.6 percentage points over the previous year. Among the children aged 3-5, 26.7% are in public kindergartens, an increase of 1.3 percentage points over the previous year; More than 33.8% are inclusive private kindergartens, down 0.8 percentage points from the previous year.

　　The school attendance rate of migrant children of compulsory education age was 98.7%, which was basically the same as that of the previous year. According to the types of schools attended, 82.2% of migrant children of primary school age attended public schools, an increase of 0.4 percentage points over the previous year; 10.8% attended private schools funded by the government, an increase of 1.7 percentage points over the previous year. 85.9% of the children in junior middle school age are studying in public schools, an increase of 2.7 percentage points over the previous year; 9.7% attended private schools funded by the government, down 0.4 percentage points from the previous year.

　　96.7% parents of migrant workers believe that their children are not discriminated against at school, an increase of 0.3 percentage points over the previous year; 0.4% of migrant workers’ parents thought they were discriminated against, down 0.1 percentage points from the previous year; 2.9% parents of migrant workers don’t understand the situation, down 0.2 percentage points from the previous year. From the perspective of teachers, 77.3% of migrant workers’ parents are very satisfied with their teachers, which is 1.8 percentage points higher than the previous year. 21.9% thought it was average, down 1.6 percentage points from the previous year; Dissatisfied and very dissatisfied accounted for 0.8%, down 0.2 percentage points from the previous year.

　　For migrant children in the compulsory education stage, 55.8% parents of migrant workers reported that they faced some problems in going to school in cities, down 2.4 percentage points from the previous year. High cost, difficulty in local education and unattended children are the three main problems with the highest recognition rate of migrant workers’ parents, with the recognition rates of 26.4%, 24.4% and 23.8% respectively. Among them, the recognition rate of high cost and local difficulty in entering higher education decreased by 0.8 and 1.7 percentage points respectively compared with the previous year, and the recognition rate of children without care increased by 2.4 percentage points compared with the previous year.

　　For preschool children aged 3-5, 55.7% of migrant workers’ parents reported that they faced some problems in entering the park in cities, which was 5.7 percentage points lower than the previous year. High cost, difficulty in local education and unattended children are the three main problems with the highest recognition rate of migrant workers’ parents, which are 50.4%, 37.3% and 15.9%, respectively, down by 3.4, 5.9 and 0.9 percentage points from the previous year.

　　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.