[See you at 8: 00] The black box of the crashed passenger plane of Egypt Airlines has found many countries to stop the Boeing 737MAX8 passenger plane.

  At 8 o’clock, witness the news every day. CCTV will sort out the big and small things that happened around us within 24 hours for you.

  [Concern of the two sessions]

  At 9: 00 on the 12th, the Second Session of the 13th National People’s Congress held its third plenary meeting to hear Zhou Qiang, President of the Supreme People’s Court’s report on the Supreme People’s Court’s work and Zhang Jun, Procurator-General of the Supreme People’s Procuratorate’s report on the Supreme People’s Procuratorate’s work; After the plenary meeting, the second meeting of the presidium was held. In the afternoon, the delegation held a plenary meeting to review the revised draft of the foreign investment law and the work report of the "two highs".

  Wang Zhigang, Minister of Science and Technology: State-owned and private enterprises are treated equally regardless of their origins.

  On March 11th, the Ministry of Science and Technology answered a reporter’s question on "accelerating the construction of an innovative country". On the issue of encouraging private enterprises, Wang Zhigang said that from the perspective of the Ministry of Science and Technology, it is the same for state-owned and private enterprises to participate in innovation regardless of their origins. The rules are fair and the opportunities are fair. We try to have a good environment and good rules to provide equal opportunities. This is what we have to do.

  Li Ganjie, Minister of Ecology and Environment, talks about the construction of ecological civilization: related work cannot be said to be important or done to be secondary.

  3月11日15时,十三届全国人大二次会议新闻中心在梅地亚中心新闻发布厅举行记者会,邀请生态环境部部长李干杰就“打好污染防治攻坚战”相关问题回答中外记者提问。李干杰表示,在保护生态环境问题上,不能道理是道理、干事归干事,说起来重要、做起来次要,抓一阵松一阵,上面督察得紧就抓一下,风头过去了又放一边。更不能因为经济发展遇到一点困难,就开始动铺摊子上项目、以牺牲环境换取经济增长的念头,甚至想方设法突破生态保护红线。

  多名政协委员建议建立科研人员学术信用记录归档制度

  学术不端现象,已经从社会舆论领域进入国家行动计划。今年两会中,多名政协委员就此建言,提出成立学术不端行为独立调查委员会、建立科研人员学术信用记录归档制度等建议。

  【国内】

  中办印发文件将2019年作为“基层减负年”。

  中共中央办公厅近日印发《关于解决形式主义突出问题为基层减负的通知》,《通知》说,近期,习近平总书记专门作出重要批示,强调2019年要解决一些困扰基层的形式主义问题,切实为基层减负;经中央领导同志同意,决定将2019年作为“基层减负年”。

  The TD-SCDMA built by China Mobile’s 100 billion yuan began to withdraw from the network.

  On March 11th, the reporter noticed a news earlier in official website, Fuzhou Municipal People’s Government. According to the letter, "after research, it is agreed to cancel 6,535 TD-SCDMA base stations that your company has stopped using, seal the data of TD-SCDMA base stations in the database and recover the original radio station licenses". A technical staff member of an operator said that it is the general trend that 2G and 3G will drop out of the network, and China Mobile’s 3G communication industry chain has little support power to make way for 5G construction, so it is inevitable that 3G will drop out of the network. China Mobile has invested at least 300 billion yuan in 3G networks. At present, the three major operators are making preliminary preparations for the construction of 5G, clearing the frequency and withdrawing from the network.

  Is it affected for enterprises to reduce personal pensions in the future? Experts say this.

  In the package of tax reduction and fee reduction policies mentioned in this year’s government work report, a set of data attracts people’s attention: "Reducing the contribution ratio of urban workers’ basic old-age insurance units can be reduced to 16% in all places", and at the same time, "continuing to raise the basic pension for retirees" has achieved 15 consecutive increases so far. Between the "one reduction and one increase" of the pension, it means that less is paid and more is paid. Some people worry that when I retire, will the pension benefits be affected?

  In this regard, the government work report has a clear response: "It is necessary to reduce the burden of enterprise payment, but also to ensure that employees’ social security benefits remain unchanged, and pensions are reasonably increased and paid in full and on time, so that social security funds can be sustainable and enterprises and employees can benefit."

  Three departments: primary and secondary schools are not allowed to set up food business places such as canteens on campus.

  According to the website of the Ministry of Education, the "Regulations on the Management of Food Safety and Nutrition Health in Schools" formulated by the Ministry of Education, the State Administration of Markets, the National Health and Wellness Committee and other departments was recently announced and will come into force on April 1, 2019. The "Regulations" clarify that primary and secondary schools and kindergartens are generally not allowed to set up food business places such as canteens and supermarkets on campus.

  [international]

  The "black box" has been found, and many countries have called a time-out for Boeing 737MAX8.

  According to rescuers in front, the black box of flight ET302 that crashed yesterday has been found and brought back for testing by Ethiopian Airlines staff. Official website, Civil Aviation Administration of China, announced early on the 11th that the Civil Aviation Administration had asked domestic transport airlines to suspend the commercial operation of Boeing 737-8 (737MAX 8) aircraft before 18: 00 that day. At this time, the worrying Ethiopian Airlines crash happened only one day. Shortly after China released the relevant news, Indonesian and Mongolian countries also took similar grounding measures.

  The US Treasury Department announced sanctions against a Russian-Venezuelan joint venture bank. 

  On the 11th, the US Treasury Department announced the imposition of sanctions on a Russian-Venezuelan joint venture bank on the grounds that it provided relevant support and services to Venezuelan oil companies. Background information: On January 23rd, Guaido, president of Venezuelan Parliament and leader of the opposition, proclaimed himself as "interim president" and was recognized by the US government. On January 28th, the US Treasury Department announced the imposition of sanctions on Venezuelan oil companies. In order to force Venezuelan President Maduro to step down, the United States has continuously increased its sanctions against Venezuela. Venezuelan government condemns US sanctions against Venezuela.

  "Brexit" and "terrorist attack" anxiety, the British turned to "chicken soup for the soul"

  According to the report, in 2018, Britain experienced a series of blows, such as terrorist attacks, unsuccessful Brexit and the elimination of the World Cup. People tried to seek spiritual comfort and peace in the sea of books, so inspirational books were very popular. According to statistics, books such as Chimpanzee Paradox: Controlling Irrational Impulse, Stress Solutions: Four Steps to Make You Calm, Happier and Healthier, Digital Minimalism: Living Better with Less Technology, which provide advice on how to deal with negative emotions and teach people how to cope with life stress, have made the bestseller list.

  Get rid of "colonial color"! African independent countries want to change their names to avenge their shame.

  A few days ago, Cook Islands, a South Pacific island country, planned to change its country name, abandoning the country name taken from the surname of james cook, a British navigator in the 18th century, and replacing it with a new country name that can reflect Polynesian characteristics. In fact, it was very common for African independent countries to change their names in the 20th century, and most of them were aimed at getting rid of the "colonial color".

  40 years of global warming: the warming rate in the Russian Arctic is four times faster than that in the world.

  According to Sputnik, the average annual temperature in the Russian Arctic in 2018 was 2.48 degrees higher than the normal temperature. According to the data from the Institute of Global Climate and Ecology, the speed of warming in the Russian Arctic in recent 40 years is four times faster than that of global warming.

  Society

  Wechat platform will crack down on drug sales and help friends forward or be punished.

  Wechat Security Center recently announced that the use of WeChat personal account to publish sales information of "illegal contraband" violated the Criminal Law of People’s Republic of China (PRC) and other relevant laws and regulations, and the WeChat security team will resolutely deal with and severely crack down on illegal activities.

  China Consumers Association released the list of car complaints last year: Mercedes-Benz BMW Audi was on the list.

  The China Consumers Association released a report on the 11th, saying that the data of automobile complaints accepted by the National Consumers Association in 2018 were analyzed, and it was found that BYD had the largest number of complaints from the top ten brands involved, and the three German luxury car brands Mercedes-Benz, BMW and Audi were all on the list. "The three German luxury car brands Mercedes-Benz, BMW and Audi are all on the list, which also reflects the upward trend of automobile consumption. This complaint data is absolute, and consumers should consider it comprehensively because of the different sales volume and ownership of each automobile brand. " The report said.

  Shanxi police recovered a number of high-grade cultural relics such as the "drum-building seat with snake pattern" in the Warring States period.

  The reporter learned from the Shanxi Provincial Public Security Department on the 11th that from January to February, 2019, Shanxi police cracked 110 cultural relics crimes, arrested 260 suspects, destroyed 24 criminal gangs and recovered 5,259 cultural relics, including 26 first-class cultural relics, 26 second-class cultural relics and 128 third-class cultural relics. Among the recovered cultural relics, a number of high-grade cultural relics belonging to the Warring States period, such as the "drum-building seat with snake pattern", shocked the academic community. At present, a number of recently recovered national treasures are being exhibited to all sectors of society in Shanxi Museum. Among the newly exhibited precious cultural relics, there are national first-class cultural relics, such as bronze reeds with animal face patterns, four-legged bronze reeds, bronze reeds with animal face patterns, etc. Among them, a bronze weapon of the Warring States period, "drum-building base with snake patterns", is exquisite and has attracted great attention from the archaeological and cultural circles.

  Guangxi informed that the cleaner was beaten by four men and women: three were arrested and one was reprimanded.

  According to WeChat WeChat official account, the port branch of Fangchenggang Public Security Bureau, Guangxi, on the 11th, the police informed the cleaners that they were beaten by four men and women: three people were punished by administrative detention for 10 days, and one was punished by admonition and education because of minor circumstances.

  12-year-old chubby neck is black and can’t be washed clean. Doctor: Be careful of diabetes. 

  Tao Tao, a 12-year-old elementary school student, was a picky eater since he was a child. He didn’t like vegetables, and he couldn’t live without meat. He especially liked fried chicken and hamburgers, and he didn’t like sports at ordinary times. He weighed more than 140 kilograms at an early age. Originally, the skin was white, but the neck was surrounded by a "black scarf" that could not be washed away. After the examination of endocrinology department in Houhu Hospital of central hospital of wuhan, it was found that this was acanthosis nigricans caused by obesity, and the doctor said that if it was not controlled, it might develop into diabetes.

  The 41-year-old master’s son is still unmarried, and his old father didn’t take him back to his hometown for the New Year for four years: he was ashamed to see anyone.

  Recently, a grandfather of Wansong Academy in Hangzhou, Zhejiang Province said that he had come to Hangzhou from his hometown of Anhui to make a blind date for his 41-year-old son with a master’s degree. He said that he had not let his son go home for the New Year for four years, because his son had no face to see his elders in Jiangdong because he was afraid of jokes.

  Leather dress and boyfriend jacket … … Do you like this school uniform?

  Recently, five school uniform items designed by students of Zhejiang Sci-Tech University’s campus entrepreneurship team were officially launched as the periphery of the official campus. There are striped sweaters, boyfriends’ jackets and jackets, cool leather skirts, retro colors and school-specific logo. Isn’t it cool? On the first day of publication on WeChat WeChat official account, the tweets of school uniforms exceeded 10,000.

  [Sports]

  The 2019 All England Badminton Open ended, and China won three championships. 

  The 2019 All England Badminton Open ended in Birmingham, England on the 10th local time (the early morning of 11th Beijing time). China won the women’s singles, women’s doubles and mixed doubles in five events, becoming the biggest winner of this competition.

  After the Winter Olympics, there was another breakthrough, and the China wheelchair curling team won the first World Championship. 

  On the evening of 10th local time (the early morning of 11th Beijing time), China’s wheelchair curling team defeated the host Scottish team 5-2 in the final of the World Wheelchair Curling Championships and won the gold medal in the 2019 World Wheelchair Curling Championships. After winning the first gold medal of the China delegation in the Winter Paralympics in Pyeongchang Winter Olympics, the China wheelchair curling team made a new breakthrough.

  [face]

  On March 9, the referee Fu Ming (third from right) after the game.

  [Fu Ming] The referee of Luneng Jianye War was suspected of plagiarism and responded.

  On the afternoon of March 9th, in the second round of the Super League, Shandong Luneng drew 2-2 with Henan Jianye. During the game, Fu Ming, the international referee on duty, was punished several times, which caused dissatisfaction among the home team. After the game, some netizens exposed the plagiarism of Fu Ming’s paper, and checked the weight as high as 54.84%, and boarded the hot search. In this regard, Jincheng College of Nanjing University of Aeronautics and Astronautics (China Southern Airlines Jincheng College) responded that it will continue to pay attention and will respond and deal with it according to the investigation conclusions of its degree-granting units.

  It is worth noting that at the new season mobilization meeting held by the China Football Association in February 2019, the China Football Association confirmed that a team of professional referees of the China Football Association would be formed by domestic excellent referees and foreign professional referees. The first batch of professional referees of China Football Association consisted of six people, including Fu Ming.

  [Quan Douhuan] The former president of South Korea was tried on suspicion of damaging his reputation.

  Former South Korean President Quan Doo-hwan was tried again as a defendant in Gwangju District Court on the 11th for allegedly damaging the reputation of the participants in the "5.18 Gwangju Incident". According to Yonhap News Agency’s report on March 10th, Quan Douhuan and former President Lu Taiyu were accused of initiating civil strife during the "December 12th Military Rebellion" and "May 18th Gwangju Incident", and were prosecuted in December 1995 and tried and sentenced in 1996.

  [O ‘Sullivan] A thousand strokes broke the 35th crown of a hundred wins career and opened a new era of snooker. 

  In the early morning of 11th Beijing time, the 2019 Snooker Players Championship ended in Preston, England. "Rocket" O ‘Sullivan defeated Robertson 10-4 in the final and successfully defended his title. This is O ‘Sullivan’s 35th ranking champion, just one step away from "Billiards Emperor" Hendry. At the same time, with the help of three shots in this game, O ‘Sullivan broke a hundred times in his career, an unprecedented achievement.

  [Liu Xinglei] One-armed courier: I can do what others can do.

  Liu Xinglei, who lives in Zhongzhou Street, Zhongxian County, Chongqing, is a courier who has been working for more than half a year. At the end of last year, a photo of him carrying a parcel for delivery was photographed by a customer and sent to the Internet, which swept the circle of friends of Zhongxian people — — The sleeve in the first half of the right arm is empty, and the parcel is supported only by the end. "Although I am a disabled person, I can support myself as long as I have a little more strength and sweat than a healthy person."

The second on the left is Kelly Catlin.

  [Kelly Catlin] The 23-year-old American Olympic medalist committed suicide.

  The American Cycling Association (USA Cycling) announced on the 10th local time that Kelly Catlin committed suicide on the 8th at the age of 23. She is an American cyclist, who won the World Championship three times and helped the United States win the silver medal in the cycling women’s team event in Rio Olympic Games.

  See you at 8 o’clock tomorrow!

Bai Yansong: Are soccer and soccer the same sport in China?

On July 19th, Bai Yansong paid attention to the "football road, how should China go?" in CCTV’s "News 1+1" program. Among them, the golden sentence is constant. Some words may sound a little harsh, but we can understand the helplessness of many experienced fans who can only have fun in the midst of years of pursuing love and constant loss. The so-called "love is deep and responsibility is urgent".

Let’s listen to what Yansong said ~

"I don’t want to talk about China football and everyone laughs."

When it comes to football in China, everyone will be happy and tell many jokes. In fact, I don’t want everyone to laugh when talking about China football, but China football has tortured fans for so many years, and I think we have some capital to laugh now. What can we do if we don’t smile?

But we really don’t want to laugh. We really want China football to develop better. But how to develop?

"How can China football develop without a stadium and a good coach?"

There is a survey: What do you think is the most important thing for China football to be strong? I think two figures are too low: 3% people choose.Build more stadiums, and 3% of people choose.Training of grass-roots coachesThis ratio is too low.

Let’s take a look at the goal of China Football Association: to expand the training scale of coaches year by year. By 2020, the total number of certified coaches in China will reach 70,000. Note that it is to strive to achieve it by 2020, which is quite different from the fact that 100 children in Iceland may have a good coach to take care of them.

There are also people who study football in China now, but after graduating in four years, they can’t get a certificate, and then they may be assigned to a school and stop teaching football and become ordinary physical education teachers.

Without a stadium and a good coach, it is almost impossible to make football in China the same sport as football.

"Playing football well has nothing to do with the population."

I often hear people in China say that 1.4 billion people can’t find 11 players. The four most populous countries in the world rank first in China, second in India, third in the United States and fourth in Indonesia. Except for the United States, which often enters the World Cup, the remaining three countries are not good at playing football, so it has nothing to do with the population.

What does that have to do with anything? CCTV 5, the sports channel, made a 20-episode feature film called Football Road before the World Cup. Frankly speaking, after the World Cup, I watched it again, and I saw that my blood was boiling and I often became very quiet. How about football in China? Is China football and football a sport after all, and how can they become the same sport?

"The goal of the national team competition in 2018 has almost not been completed."

Next, let’s look at the goals of the national team. The Chinese Football Association’s Action Plan for 2020 has drawn up three goals for the national team in 2018:

The goal of FIFA U20 World Cup was to strive to participate, but I didn’t go.;

FIFA U17′ s goal was to compete, but it didn’t go.;

The goal of U23 Asian Championship was to enter the top eight, but failed.!

In other words, the goal of the 2018 competition was almost not completed. The goal of the 2019 competition is to enter the top four of the Asian Cup. Can it be completed? Frankly, I’m not optimistic.

"We don’t want to be people who tell jokes about China football."

I really hope that all football players in China can take a good look at the 20 episodes of Football Road on Sports Channel. After reading it, we will all be the beneficiaries. We don’t want to be people who tell jokes about football in China. Frankly speaking, how lively the World Cup is, we are just passers-by, just a group of spectators. Only when China football is really well done and China football and football become the same sport, will we be really happy.

Want to see more suggestions from Bai Yansong about the development of football in China, click to watch the full video ↓↓↓

Video loading …

Last day! When the annual tax settlement ends, the tax refund will be wasted if it is not received.

  Beijing, China, June 30 (Reporter Li Jinlei) On June 30, it was the last day of the annual calculation of comprehensive income of individual tax in 2019. If you don’t apply for tax refund, you should pay close attention to it, otherwise it will be wasted if you don’t get it. Those who have not paid the overdue tax should also pay close attention to it, otherwise they will face fines and late fees, which will also affect their personal credit.

  Last day of annual tax settlement

  The annual remittance of comprehensive income from individual tax in 2019 will be handled from March 1 to June 30, 2020. June 30th is the last day for annual settlement.

  The so-called annual tax calculation is to "combine the annual income and calculate the tax on an annual basis", and then refund more and make up less. That is to say, the four incomes of wages and salaries, labor remuneration, manuscript remuneration and royalties are combined into "comprehensive income", and the individual tax is calculated on an annual basis.

  The specific calculation formula is as follows:

  In 2019, the tax payable or refundable is calculated = [(comprehensive income-60,000 yuan-special deductions such as "three insurances and one gold"-special additional deductions such as children’s education-other deductions determined according to law-donation) × applicable tax rate-quick deduction]-prepaid tax in 2019

  Personal income tax rate table.

  If you don’t get a tax refund, you’ll be wasted.

  Who can get a tax refund? As long as you pay more taxes in advance because of insufficient deduction or undeclared deduction, taxpayers can apply for tax refund regardless of their income or the amount of tax refund.

  For example, your comprehensive annual income in 2019 is less than 60,000 yuan, but your income is relatively high in a certain month, and you can get a tax refund if you pay a tax in advance.

  For example, Xiao Ming received a salary of 10,000 yuan in January, and an individual paid "three insurances and one gold" of 2,000 yuan. Assuming there is no special additional deduction, he will pay a tax 90 yuan in advance; In other months, the monthly salary is 4000 yuan, and there is no need to pay taxes in advance. Throughout the year, because taxpayers’ annual income is less than 60,000 yuan, they don’t need to pay taxes, so they can apply for a refund of 90 yuan tax paid in advance.

  For another example, if you didn’t declare to enjoy the six new special additional deductions (children’s education, continuing education, serious illness medical care, housing loan interest or housing rent, and supporting the elderly) in 2019, you may also get a tax refund after the declaration.

  For example, Lao Wang’s monthly salary is 10,000 yuan, and the individual pays 2,000 yuan for "three insurances and one gold". According to the regulations, two children who go to primary school can enjoy a special additional deduction of 2,000 yuan per month (24,000 yuan for the whole year). However, because it was not reported in the prepayment link, the special additional deduction for children’s education was not deducted when calculating the tax, and the tax was paid in advance for 1080 yuan in the whole year. After filling in the relevant information in the annual settlement, it can supplement and deduct 24,000 yuan. After deduction, it should pay a tax of 360 yuan for the whole year, and it can apply for tax refund in 720 yuan according to regulations.

  If you can get a tax refund, but you don’t declare it, the money will be wasted. Of course, it should be noted that the tax refund can be waived without any responsibility.

  Screenshot of tax refund received by netizens in Weibo.

  Failure to pay taxes will result in fines and late fees.

  Although the tax refund can be waived, the tax payment cannot be waived. If you need to pay back taxes, you must make an annual settlement.

  Who needs to pay taxes? That is to say, taxpayers whose comprehensive annual income exceeds 120,000 yuan and whose annual amount of supplementary tax is above 400 yuan need to pay supplementary tax.

  There may be small partners who see that they have to pay taxes and want to ignore them. However, this kind of escape mentality is not desirable. If the tax is not paid on time, the consequences will be more serious. Don’t be fined, and you will have to pay a late fee, which will affect your personal credit.

  State Taxation Administration of The People’s Republic of China said, if you should pay taxes, it is your obligation to handle the annual remittance. If you don’t pay the tax, you may face tax administrative punishment and record it in your personal tax credit file.

  According to Article 62 of the Tax Administration Law, if a taxpayer fails to file tax returns and submit tax information within the prescribed time limit, the tax authorities shall order it to make corrections within a time limit and may impose a fine of less than 2,000 yuan; If the circumstances are serious, a fine of not less than 2,000 yuan but not more than 10,000 yuan may be imposed, and taxes shall be recovered and late fees shall be imposed. For late payment fees, from the date when the payment deadline is exceeded, five ten thousandths of the overdue tax will be charged on a daily basis.

  Tax data map. Zhongxin. com reporter Li Jinlei

  Don’t trust the so-called "secret" of tax refund

  In the process of annual tax settlement, some people are unwilling to see that others can get a tax refund, but their own tax refund amount is 0, so they make a bad idea, believe in the "tax refund strategy" and "tax refund tips" circulating on the Internet, and make a false declaration.

  A case published by Zhejiang Taxation Bureau shows that taxpayer Zhang, according to the system trial calculation, should get a tax refund in 0 yuan, but he applied for a tax refund of 202.12 yuan by falsely reporting the special additional deduction for his serious illness medical treatment in 2019. In the daily monitoring, the tax department found that Zhang’s special additional deduction data was doubtful, and contacted Zhang for verification, requesting relevant retained information, but Zhang could not provide it. In the end, the tax department informed Zhang of the legal responsibility for not submitting the special additional deduction information truthfully, and advised Zhang to correct the declaration in time.

  The tax department reminds that taxpayers need to declare the annual tax refund, and individuals should be responsible for the authenticity, accuracy and completeness of the declared information. Don’t believe in the so-called "tax refund tips" passed on the Internet and orally, so as to avoid false declarations or false declarations that violate the provisions of the tax law.

  Have you settled the annual tax? Is it a tax refund or a tax payment? (End)

Can you tell these derivative models of the F-35 from the "Lightning II" family?

  According to the report of Flight International on April 16th, the US Navy and Marine Corps successfully completed the first test of the concept of "lightning carrier". Twenty F-35B fighters with short take-off and vertical landing took off from the US Navy "Tripoli" amphibious assault ship to perform fast-paced operations.

  The concept of "Lightning Carrier" was formally put forward in 2016, based on the existing "F-35B vertical takeoff and landing aircraft+amphibious assault ship" model of the US military. The name of "Lightning" in the concept comes from the F-35B Lightning II Joint Strike Fighter, and F-35B is just one of the F-35 Lightning II Joint Strike Fighter (JSF) models.

  F-35 "Lightning II" Joint Strike Fighter (JSF) is a single-seat single-engine multi-role fighter and a low-order auxiliary aircraft of F-22. It has strong stealth capability, advanced avionics system and certain supersonic cruise capability, and is mainly used for frontline support, target bombing, air defense interception and other tasks. It is divided into three types: conventional takeoff and landing (CTOL)F-35A, short takeoff/vertical landing (STOVL)F-35B and carrier-based (CV)F-35C. Undoubtedly, in the future competition for air superiority, F-35, as one of the world’s advanced fifth-generation aircraft, has a very high photogenic rate. So how do you distinguish them in appearance?

  one

  plane emblem/logo

  The F-35 "Lightning II" Joint Strike Fighter (JSF) was mainly developed by Lockheed Martin of the United States, and eight countries including Britain, Italy, Netherlands, Denmark, Norway, Turkey, Australia and Canada participated in the development, with a total cost of $276 billion.

  In addition to R&D abroad, South Korea, Japan and Israel also vigorously purchased the F-35 to enhance the overall air combat capability. Therefore, according to the current data, a total of 12 countries have decided to equip the F-35:

  According to the above picture, there is Israel’s Star of David emblem above the wing, which is an F-35A. (Architecture A, called F-35I, shows the F-35A fighter equipped by Israel Air Force. )

  two

  character

  The U.S. Air Force, Navy and Marine Corps are equipped with three types of F-35 fighters, which are not a panacea according to their badges. If it is an F-35 equipped by the US military itself, it can be roughly distinguished by the characters in the belly position below the horizontal tail:

  1. Symbol of the United States Air Force (F-35A of the United States Air Force)

  2.NAVY (F-35C of the US Navy)

  3.MARINES (The United States Marine Corps purchased two models, F-35B and F-35C).

  In addition, there are several F-35Cs in the US Navy that also say "MARINES". But what should I do if I can’t see the military emblem or characters from the photo point of view? This uses the "shape resolution method".

  three

  wing span

  Both F-35A and F-35B have a wingspan of 10.7 meters, while F-35C adopts a large wingspan design to reduce the landing speed, and the wingspan is increased to 13.1 meters and can be folded, which is the largest of the three sub-models.

  four

  nose gear

  In order to withstand the impact of the ship, the F-35C has thickened the front landing gear, and changed from the basic single-wheel landing gear to the two-wheel landing gear, and the front landing gear has the unique ejection pull rod of the ejection take-off fighter. The following figure shows F-35A, F-35B and F-35C in turn.

  five

  Landing tail hook

  The landing of the F-35C needs to be stopped, and a repeatedly used stern hook is equipped under the engine. Although the F-35A will also be equipped with crash landing tail hook, it is currently testing the tail hook crash landing, and even if it is installed, it will be one-off.

  six

  regula

  The leading edge of the main wing of the F-35C is moved forward to increase the wing area, which leads to the strake wing in both the F-35A and the F-35B, but it is cancelled on the F-35C. The following figure shows F-35A, F-35B and F-35C in turn.

  seven

  Jibei

  F-35B is a short takeoff/vertical takeoff and landing type. Due to the special requirements of takeoff and landing mode, the engine of this type adopts a lift fan device. When viewed from the top, the rear of the cockpit is flat, and the upper cover of the lift fan and the cover plate of the auxiliary air inlet will open upward during the takeoff and landing.

  eight

  Machine gun

  The F-35A is the only one of the three sub-models, which adopts the built-in gun design and is equipped with a GAU-22/A four-tube 25mm gatling built-in gun. Therefore, there is an obvious protrusion on the front upper part of the left wing of the fuselage, which is a remarkable feature of the A-type aircraft. F-35B and F-35C are not equipped with fixed cannon, so it is enough to mount the cannon pod on the belly line when necessary.

  nine

  Verifier, test aircraft and

  Low speed initial production aircraft

  The test aircraft and the initial low-speed production F-35 are usually numbered on the fuselage. For example, before the mass production of the F-35A, the aircraft fuselage numbers AA-01, AF-01 to AF-07 were even directly marked with F-35A, all of which contained "A"; F-35B has BF-01 to BF-04 with "B" in them; F-35C has CF-01 to CF-05 before the first mass-produced CF-06, all with "C".

The project of designated supervision site for imported edible aquatic animals and imported fruits at Haikou Airport started.

On March 1st, haikou meilan international airport held the groundbreaking ceremony for the designated supervision site project (imported edible aquatic animals and imported fruits) at the International Freight Station. Photo courtesy of haikou meilan international airport
Haikou meilan international airport (hereinafter referred to as meilan airport) held the groundbreaking ceremony for the designated supervision site project (imported edible aquatic animals and imported fruits) at the International Freight Station on March 1st.
The project is located in the reserved area on the south side of meilan airport T2 International Cargo Terminal, with a total construction area of 2,172.2 ㎡, including two single buildings, namely designated supervision room and fumigation room, in which the designated single-storey supervision room is 2,064.2 ㎡ and the single-storey fumigation room is 108㎡, and it is equipped with inspection platform, cold storage, technical room, business room, equipment room and other supporting facilities and functional rooms.
After the completion of the project, on the one hand, it can meet the customs supervision conditions for the import of edible aquatic animals and fruit products, so as to open the air import channel for designated supervised goods; on the other hand, it can allow fish, crustaceans and soft products from Asia, Europe and North America, and fruit quality products from Southeast Asia, North America and Australia to enter the inland market through Haikou, further reducing logistics and time costs, and also enriching the categories of return goods of meilan airport international routes, stabilizing route operation and opening.
Meilan airport introduced that the project aims at the completion of construction in 2024, ensuring that the designated supervision site for imported edible aquatic animals and imported fruits will be put into operation as soon as possible, further expanding the overall function of the airport port of Hainan Free Trade Port, enhancing the convenience of customs clearance at the port, and making every effort to create a travel experience of "people enjoy their trip and things flow smoothly". (End)
Reporting/feedback

Running can burn fat, so the more you run, the better the fat reduction effect will be.

Running is a very effective exercise to lose weight, and it is the first choice for the majority of dieters. However, due to the lack of relevant sports knowledge, many people will encounter many problems when they lose weight by running.

For example, I think that the more I run, the more fat I consume, so I am desperate to run wildly, and I can’t wait to run tens of thousands of kilometers in one day to consume all the body fat.

The more you run, the more fat you consume. To some extent, this view is correct. But the problem is that the human body has its limits. A body with an excessive body fat rate cannot run forever. Even if you think you can keep running, your body is gradually collapsing.

Every time you run, there is actually a limit value. When you are about to reach the limit, your body will show some signals as a warning. If you run faster, when you reach the limit, your running speed will drop uncontrollably. No matter how fast you want to run, you can’t take a bigger step. This is because there is little muscle glycogen left in your body, and the proportion of fat consumption has reached the maximum, but the energy provided by fat consumption is actually not much, which is not enough to support your running faster. This is a very important signal that your body can’t run much longer.

If the brain is still trying to run at this time, it can only decompose the protein in the muscle to provide energy as a supplement, which is very harmful to the muscle tissue and the root cause of running off the muscle. While consuming protein’s function, the brain will secrete endorphins, which is a natural analgesic and can relieve the pain of reaching the limit. At this time, you will suddenly change from a painful running state to a light-footed one. This is actually a second warning, but many people mistakenly think that running is getting better and better, so they will run more and expand the harm caused by excessive running.

After the muscle mass caused by long-term excessive running decreases, the basal metabolic rate of the body will also decrease, and the speed of fat loss will slow down. This is really "going too far".

In addition, excessive running in desperate pursuit of running distance will also lead to terrible consequences such as joint wear, muscle strain and even acute renal failure.

The process of losing weight is very long, and there is no shortcut at all. If you run moderately and develop running habits slowly, the body fat rate will gradually decrease unconsciously.

Wang Xin’s career and love have a double harvest! Get Ma Kui’s approval and capture Merry ma’s heart!

Before the Spring Festival, "Coming from South to North" was on the air.
Xiaoqi plays with his family every day.
It is simply a necessary entertainment link for the Spring Festival.
The train and the interesting things in the courtyard were staged one after another, and the atmosphere was full of family fun.
It really adds a lot of happiness to the New Year.
After the new year, "going south and going north" also ushered in a new atmosphere.
All staff have a new look, and each has its own new breakthrough.
Let Xiaoqi show you a new scene of prosperity in the compound!
Remember Wang Xin (Bai Jingting) and Ma Kui (Ding Yongdai)
Was it incompatible when we first met?
Today’s Wang Xin is growing up in setbacks.
He is no longer an afterlife who talks about "the little gun king of the police academy"
He took master’s words to heart.
Think again and again when you encounter problems.
After making a mistake and being transferred, Wang Xin stopped acting rashly.
Several cases, large and small, have been cracked in succession.
This is different from the past
Today’s Wang Xin deserves this big red flower.
Won the recognition of Ma Kui.
Also won the heart of Merry ma (Gina)
How can Ma Kui, as a master, lag behind his disciples?
The original Ma Kui was strict father, a strict teacher.
I don’t know much about how to get along with my family
Under the warmth of the closest relatives.
Ma Kui seemed to turn on the tender feelings switch.
Although the mouth is still hard, but the soft heart has overflowed the screen.
He took the initiative to visit Wang Xin at Hongyang Station.
Take Merry ma to buy high heels and try them on for her.
The Relationship among Wang Xin, Ma Kui and Merry ma
Is getting closer and closer.
Encouraged by the growth of both boyfriend and father,
Merry ma also found a new direction of love and career.
Once, her love was hard to open in my heart.
Watching a sweetheart fall in love will only sulk.
Today’s Merry ma has a delicate mind
Take the initiative to help Wang Xin and Ma Kui break the ice
After understanding one’s own mind
She took the initiative to visit Wang Xin in Hongyang.
The relationship between the two is heating up rapidly.
No more guessing each other’s minds
See others doing small business.
Merry ma also wants to do business in the sea.
Start with a stall and accumulate little by little.
Can Ma Yan make a career?
We can look forward to it
"Going from south to north" is a new atmosphere in the new year, and the compound also welcomes new people
Niu Dali (Liu Guanlin), who pursues love with brute force, has made rapid progress in her feelings.
Pulling Yao Yuling (Jiang Yan) to push up the car of love.
It’s just that Yuling is always uncertain about Yao, and seems to have other choices.
With the concerted efforts of Qi Xin from all the people in the compound.
Cai Xiaonian (Song Jiateng) successfully married his wife.
In a happy place, the Cai family is also happy.
A guest from Harbin, Jia Jinlong (Li Naiwen), also came to the compound.
Woolen coat and small leather shoes, handsome and full of praise.
When Jinlong Yuling met under the cherry tree, it seemed like an idol drama.
The relationship between these two people seems very unusual? !
Ma Kui’s old friend visited.
Lili (Rain Wang), the daughter of an old friend, also lives in Ma’s house.
As soon as they met, Merry ma and Lili got along like sisters.
The two girls are stubborn and obedient, which makes people curious.
Can Lili blend into Ma’s family smoothly?
Can Ma Kui’s bowl of water be leveled?
The newcomers in the compound are wave after wave.
Everyone smiles and is very lively.
Wang Xin, Ma Kui, Merry ma and others also ushered in new challenges.
The train was shocked by the case of dismemberment, and Wang Xin and Ma Kui jointly investigated it.
Wang Xin and Merry ma have increasingly clear feelings.
Can they get Ma Kui’s permission?
The excitement of "going north and south" continues.
Meet you at iQiyi at 19:30 every day on time.
Reporting/feedback

"Warm management" of Beijing Sports Lottery Store warms people’s hearts.

In the cold winter, Beijing is freezing. In order to provide a warm haven and resting place for lottery buyers and pedestrians who travel in the cold, Beijing Sports Lottery stores have started "warm management" one after another, helping everyone dispel the cold and protect their health with warm environment layout and enthusiastic service.

Sphygmomanometer plays a big role

"Small seeks you this incredibly have a sphygmomanometer? Then I have to test it. " Another lottery buyer who walked into the 36245 Sports Lottery Store in Haidian District in the cold wind quickly found the electronic sphygmomanometer specially placed in a conspicuous position by the agent Mr. Mou, and took the initiative to ask for blood pressure measurement.

In September 2023, Beijing Sports Lottery launched the "Healthy China Healthy Sports Lottery" activity, and established the Beijing Sports Lottery Health Benefit Station through the form of "Sports Lottery+Medical Care". Beijing Sports Lottery has equipped the first batch of 80 health benefit stations with electronic sphygmomanometer, oximeter and body fat scale as convenience facilities in the sports lottery health benefit station for use in the store. This winter, these health facilities played a big role. Mr. Mou told reporters: "Our store has an electronic sphygmomanometer sent by Beijing Sports Lottery Center, and my wife has a nurse qualification certificate. She is very concerned about the health of lottery buyers on weekdays and has been thinking about how to serve everyone as much as possible."

"Cold weather is very unfriendly to cardiovascular and cerebrovascular diseases. After Beijing cooled down this year, I put the sphygmomanometer in a conspicuous position in the store, which is convenient for the lottery buyers to test themselves. For older people, as well as tourists from the south, I will take the initiative to persuade them to measure their blood pressure and pay attention to their health. " Mr. Yan said.

Hot ginger soup to create a warm haven

No matter how windy and slippery the road is, there are always some people who have to go out. The Beijing Sports Lottery Store with sufficient heating and hot water can be their warm haven. "The people in this store are very good. I am actually waiting for someone nearby. The little girl said to let me come in to warm up and have a cup of hot water. It’s still warm in the house, but the enthusiasm of sports lottery is warmer and warmer in my heart. " In the 43276 Sports Lottery Store in Yongledian Town, Tongzhou District, an uncle praised the salesman Li Hongyan.

"There is no heating in the sports lottery store, but I turn on the air conditioner every day. The store is as warm as spring, and many people who go to the market will come to my store to rest." Li Hongyan said, I am warm to every guest who comes in, even if they are not here to buy lottery tickets, but just to take shelter, drink water or borrow a pump.

There are many sports lottery shops in Beijing, like Li Hongyan, which prepare hot water in their shops to provide a safe haven for their guests. Others specially cooked ginger soup at home and took it to the store in a thermos. "It is said that drinking ginger soup can better drive away the cold and prevent colds, so I have prepared some for people in need. It is not easy for people to go out in cold weather, and good health is very important. " Li Yong, a consignment agent in Tongzhou District, said.

Warm service can drive away the cold.

A cup of hot water can warm your hands, a warm room can warm your body, and a warm word can warm your heart. When it snowed before, many Beijing Sports Lottery people not only swept away the snow and ice in front of the door, but also swept the road at the door together with the snow in the nearby community, and laid anti-skid mats in the store, posted anti-skid tips, and used warm words and temperature service to drive away the cold for the guests who entered the door; In Yanqing District, which is colder than the urban area of Beijing, when it was found that heating and air conditioning could not effectively raise the temperature in the store, the Sports Lottery Store No.48022 decided to temporarily add a salesperson to reduce the waiting time of lottery buyers. There are also physical stores that strive to consider the possible needs of lottery buyers and prepare facilities in place. For example, umbrellas, chargers with various interfaces, band-AIDS, cold medicine, shoe polish and brush, disposable handbags, newspapers and magazines, chewing gum, etc. are always available.

It’s warmer in Leng Qing, and the cold wind can’t blow away the light and heat of sports lottery. In the new year, Beijing Sports Lottery and the respectable and lovely Beijing Sports Lottery people will continue to send more true feelings and warmth to the lottery buyers and the society. (From January 30th, China Sports Daily, 08 edition) 

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How does SHEIN break the monopoly pattern of international fashion brands with flexible supply chain?

In the global fashion industry, fierce market competition and the increasingly diversified needs of consumers are constantly reshaping the pattern of the industry. European and American markets have been dominated by international brands for a long time, and the entry threshold and challenges of China brands are self-evident. However, in a few decades, SHEIN has sprung up suddenly. With its unique business model and subversive supply chain management, it has successfully broken the monopoly position of international brands in Europe and the United States and become a unicorn brand in the fashion field.

So the question is, how did SHEIN do it?

In fact, hundreds of years of foreign commercial culture and fashion culture have spawned a series of foreign brands that have existed for decades, and they have certain first-Mover advantages compared with domestic brands in terms of technical details and product quality. However, this long-term accumulation has also led to the relative complexity and inflexibility of its organizational structure and operation mode, which is often called "cumbersome".

"Clumsy" is actually relative. Take Zara as an example, although it has shown the characteristics of efficient operation in many aspects. For example, it adopts SPA mode, characterized by high turnover rate and high profit rate, and captures the trend information from physical stores, fashion magazines, fashion shows and other channels and quickly transforms it into design inspiration. Nevertheless, Zara still represents a mature and large-scale industry model, and there is still room for further improvement in flexibility and rapid response.

Compared with traditional fashion brands, the operation mode displayed by SHEIN presents a completely different style. Because sales are entirely based on online retail, real-time feedback of information is more direct and efficient. In the production process of ordering, the small order adopted by SHEIN can be more sensitive. Usually, 100-200 products are produced on a small scale and put into the market for testing. If the sales trend is good, the order will be returned immediately, but if the sales are not up to expectations, the production will be suspended. And ZARA’s first order should be at least 500-1000 pieces.

SHEIN also actively uses its own technological advantages and experience to promote the transformation and upgrading of traditional industries such as clothing manufacturing. Due to the flexible supply chain mode of on-demand production, the whole link is upgraded from front-end fashion trend, design and development, manufacturing, warehousing and logistics, which brings about the improvement of the whole efficiency.

Before cooperating with SHEIN, most of these factories did not have the ability of systematization and intelligence, and most of them relied on manual work, Excel, mail and other traditional ways to arrange production, which was very inefficient and did not have competitive advantages in the industry. However, after cooperating with SHEIN, they completed the transformation into a digital factory with full chain digitalization, which greatly reduced the waste of materials and the waiting time of workers. Based on demand supply, the inventory rate of brands can be reduced to low single digits, while the average unsold inventory level of other brands in the industry is 30%.

SHEIN, a technology-driven flexible on-demand supply chain, not only improves industrial efficiency, reduces waste, but also helps to protect the environment. At the same time, due to the cost reduction caused by waste reduction and efficiency improvement, brands can give back 100% of these values to end consumers, share the created value with consumers, and greatly reduce the sales price of goods.

This "small order and quick response" model gives SHEIN a significant advantage, which is reflected in higher commodity turnover rate and finer inventory management. It enables SHEIN to more accurately test and quickly capture the explosive potential styles in the market, while almost avoiding the risk of excessive inventory. In the view of Boston Consulting Group, this agility of on-demand fashion has become the source of competitive advantage in the fashion industry, and the agile supply chain model represented by SHEIN has become an irresistible trend of the industry, which is gradually changing the rules of the game of the global fashion industry and leading the industry to develop in a more efficient and sustainable direction.

Reporting/feedback

TOP200 list of sales of real estate enterprises in China in 2019

Source: real estate people’s words
☉ Wen/Kerui Research Center
List revision instructions
This year is the 11th year that Kerui compiled the sales list of China real estate enterprises, from the initial TOP20 to TOP50, TOP100 and TOP200;; From the single sales list to the launch of the trading list representing trading ability and the equity list of investment ability, we have been truly, rigorously and fairly recording the industry changes, pattern evolution and model innovation in the past 10 years.
Since January 2019, on the basis of the original sales flow list and equity list, we have added a sales full-caliber list. Full-scale sales refers to the statistical method that all projects of enterprise groups and joint ventures and associated companies are included in the performance, regardless of the proportion of equity and whether they are trading. Because the agent construction belongs to the export management behavior, the sales performance generated by the agent construction is not included in the full-caliber list data. The full-caliber list reflects the enterprise’s urban layout and project expansion ability.
The trading list is based on enterprise trading, that is, if a project is jointly developed by a number of housing enterprises, the performance of the project is only classified as trading enterprises. It reflects the marketing and trading ability of the enterprise, and the sales performance generated by the enterprise’s agent construction is included in the statistics of trading caliber.
The equity list is based on the proportion of corporate equity, that is, if a project cooperates with a number of housing enterprises, the performance of the project will be included in the corresponding enterprises according to the proportion of equity. It reflects the financial strength and investment ability of the enterprise. (Note: The data of equity caliber does not include the equity of the parent company and related parties, and the employee’s follow-up investment)
In view of the fact that most listed real estate enterprises have changed the caliber of performance announcement from consolidated statement to full caliber, readers who need to compare with the data released by listed companies can refer to the full caliber list.
List interpretation
In 2019, the cumulative equity sales amount of TOP100 real estate enterprises increased by 6.5% year-on-year, far less than 40.5% in 2017 and 35.1% in 2018. By the end of December, most large-scale housing enterprises have achieved their annual performance targets, but the overall overfulfilled rate is not as good as that in 2016 and 2017.
On the whole, the market environment for the industry to maintain long-term and stable development has become clear. It is expected that the overall scale growth of enterprises will continue to rise steadily in 2020, and the differentiation pattern within the top 100 housing enterprises will also be continued. While the sales threshold of real estate enterprises in each echelon is further improved and the competition is intensified, TOP30 will become an important watershed for scale development.
01
Overall performance: the growth rate of the industry slowed down significantly.
Better performance in the second and fourth quarters
In 2019, with the central government’s clear goal of "stabilizing land prices, stabilizing housing prices and stabilizing expectations", market regulation tends to be normalized, the credit level gradually tightens, and the real estate market develops steadily and healthily. As of the end of December, the cumulative equity sales amount of TOP100 real estate enterprises increased by 6.5% year-on-year, which was less than 40.5% in 2017 and 35.1% in 2018. The growth rate of the overall scale of the industry has slowed down significantly compared with the previous two years, and the growth of the top 100 housing enterprises has "stalled".
Judging from the annual performance trend, the overall sales performance of the top 100 real estate enterprises in the second and fourth quarters of this year was better, and the scale of equity sales increased by 7.5% and 11.7% respectively compared with the same period of last year. Among them, the "Xiaoyangchun" market in the first and second quarters, especially in March and April, increased the market enthusiasm, and the monthly year-on-year growth rate rebounded significantly from the beginning of the year. After the second half of the year, enterprises increased their supply, and the year-on-year growth rate of performance also showed a rebound trend. Especially since September, it has coincided with the peak of supply at the end of the year, and the performance of enterprises has stabilized and rebounded under the promotion of both pushing and marketing efforts.
But on the whole, the real market situation is not as optimistic as the growth rate of corporate performance. At present, the market pressure of chemical industry still exists, and the overall chemical industry rate is still relatively low. Judging from the push and de-transformation of real estate enterprises throughout the year, the average single-plate production capacity of large-scale real estate enterprises in 2019 decreased compared with that in 2018, and the performance growth mainly depended on the increase in the number of projects on sale.
02
Concentration: echelon differentiation pattern intensifies
TOP30 scale development watershed
By the end of 2019, the concentration of equity sales amount of TOP3, TOP10, TOP30, TOP50 and TOP100 housing enterprises had reached nearly 9.5%, 21.4%, 35.7%, 43.5% and 53% respectively. In terms of echelons, while the overall growth rate of the industry has slowed down, the differentiation pattern of housing enterprises in the top 100 echelons has intensified.
Among them, the scale growth of leading real estate enterprises slowed down and the concentration decreased slightly under the strategy of improving quality control speed. TOP4-10, TOP11-20 echelon scale enterprises have increased in concentration, and echelon competition has intensified, while the concentration of TOP21-30 echelon housing enterprises is basically the same. On the whole, TOP30 echelon housing enterprises benefit from the scale effect, national layout and relatively mature internal control mechanism, and have more industry competitiveness and room for further improvement in the future. With the rapid accumulation of resources in the real estate market to advantageous enterprises, TOP30 housing enterprises have become a watershed in the scale development of housing enterprises.
It is worth noting that after TOP30 in 2019, the concentration of housing enterprises in each echelon showed a downward trend compared with that in 2018. The concentration of the TOP31-50, TOP51-100 and TOP101-200 echelons has declined, and the internal rankings of the echelons will change more frequently as the competition pattern further intensifies.
03
Threshold for listing: amount of equity of TOP100 housing enterprises
The threshold has dropped, and the expansion of 100 billion housing enterprises has slowed down.
In 2019, the threshold of equity sales amount of real estate enterprises in each echelon of TOP50 increased slightly compared with the same period of last year. Among them, the threshold of the equity amount of TOP10 housing enterprises reached 170.35 billion yuan, a year-on-year increase of 5.8%. The threshold of equity amount of TOP20 and TOP30 real estate enterprises is 111 billion yuan and 82.52 billion yuan respectively, and the threshold increase is 12% and 3.6% respectively. The competition pattern of TOP50 housing enterprises has intensified, and the threshold of equity amount has increased by 7.6% compared with the same period of last year to 51.71 billion yuan. By the end of December, the threshold of the equity amount of TOP100 enterprises in each echelon was reduced from 20.4 billion yuan last year to 18.78 billion yuan, while the threshold of TOP200 enterprises remained at around 6 billion yuan.
In addition, by the end of 2019, the number of full-caliber 100 billion housing enterprises increased by only 4 to 34 compared with the same period of last year, and the number of housing enterprises with a scale of 50-100 billion reached 33. Compared with the high increase in the previous two years, in 2019, under the background of slowing down the growth rate of the industry scale, the number of newly added 100 billion housing enterprises dropped significantly, and the expansion of large-scale housing enterprises slowed down.
04
Corporate performance: the leading housing enterprises grew steadily.
Evergrande ranked first in the equity list.
By the end of 2019, the full-caliber sales of the four leading real estate enterprises had exceeded 550 billion yuan, but the growth rate slowed down significantly compared with the same period in 2018. Among TOP4 housing enterprises, Evergrande achieved remarkable results through price reduction promotion in September and October, especially in October, when it achieved a monthly performance of 90.3 billion yuan. By the end of the year, the accumulated sales amount of full caliber was 608 billion yuan, exceeding the annual target of 600 billion yuan for the whole year, and the scale of equity sales ranked first in the industry.
Sunac, on the other hand, broke through 500 billion yuan for the first time by virtue of its merger and acquisition advantages, abundant sales volume and high-quality product quality, and its monthly sales for three consecutive months from September to November remained above 60 billion yuan. In 2019, the total sales amount of full caliber was 555.63 billion yuan, a year-on-year increase of over 20%, which exceeded the annual sales target of 550 billion yuan. It is worth noting that, in addition to TOP4 housing enterprises, Poly is also close behind, and its full-scale performance this year exceeds 470 billion yuan.
05
Target completion rate: the vast majority of housing enterprises
Achieve the annual target as scheduled
Judging from the completion of corporate goals in 2019, most housing enterprises that set performance targets during the year have achieved their annual performance targets. Among them, 9 housing enterprises such as Shimao, Longhu, Sunshine City, Jinke, Zhongliang, Yuzhou and Baolong performed well, and completed the annual target ahead of schedule as early as November. By the end of December, the target completion rates of eight real estate enterprises, including Shimao, Sunshine City, Jinke, Zhongliang, Zhongjun and Jianye, were all above 115%.
On the whole, however, in recent years, regulation and control have continued, the overall market turnover rate is less than expected, and the target completion rate of housing enterprises has been decreasing year by year. Compared with 2016 and 2017, the target completion rate of nearly 80% of housing enterprises exceeded 110%, and the number of housing enterprises in this area decreased significantly in 2019. This year, the target completion rate of only half of housing enterprises is concentrated between 100% and 110%. We believe that under the background that the overall target growth rate of housing enterprises has slowed down and the average target growth rate has dropped from 41% in 2018 to 20%, although most housing enterprises have achieved their annual performance targets in 2019, their overall performance is not as good as that in 2016 and 2017.
06
Quality of growth: increased cooperation and decreased rights and interests.
The high-quality growth of enterprises should be paid more attention.
As can be seen from the data of the equity list, the overall project cooperation in the industry has increased in recent years, and the equity ratio of the sales amount of TOP100 housing enterprises has dropped from 85% in 2016 to about 75% at present. On the one hand, under the current industry background of high land price, tight funds for housing enterprises, increasing difficulty in land acquisition and development risks, cooperative development between housing enterprises has become the norm. On the other hand, under the current market background, more small-scale enterprises choose to expand the full-scale performance scale through cooperative development, and the overall equity ratio is correspondingly reduced.
However, we believe that in recent years, under the industry development trend of continuous policy regulation, slow growth of enterprise scale, leading real estate enterprises improving quality control speed and pursuing high-quality growth, the era of real estate enterprises blindly pursuing full-caliber sales scale has passed. Based on the increase of current project cooperation, the caliber of sales manipulation and equity can better reflect the marketing, operation and investment capabilities of enterprises, and should be paid more attention. For example, Country Garden, China Resources, Sunshine City, R&F, Kaisa and other enterprises all choose to disclose their equity performance, which also shows that their management has paid more attention to the high-quality growth of their performance while developing their scale.
07
Outlook: Enterprise Development Outlook in 2020
Looking forward to 2020, the main tone of the central government’s policy of "housing without speculation and keeping the word steady" will not change, and the central government will also strictly control financial risks. Stability will remain the top priority of real estate policy regulation in the next stage. At the enterprise level, although the overall market is under pressure, the environment for the industry to maintain long-term stable development has become clear. It is expected that the overall scale growth of large-scale housing enterprises will enter a stable period in the future. In the market adjustment period, the financing environment of housing enterprises will continue to operate at a low level, and corporate investment will remain cautious. In addition, with the return of residential products to the essence of living, more housing enterprises will exert their efforts from the product side in the future to enhance the competitiveness of their products through standardized product systems, refined products and intelligent construction.
Market: financial control, risk prevention and stability are the main tone.
Judging from the trend of industrial policies, the main tone of the central government’s "staying in the house without speculation, keeping the word steady" will not change in 2020, and stability will remain the top priority of real estate regulation and control policies in the next stage. On the one hand, the real estate industry is the most important area of deleveraging at this stage, and the central government will control financial risks to ensure that systematic financial risks do not occur. Monetary policy will be moderately tight to avoid flooding, but structural easing is expected. At the same time, with the downward movement of LPR interest rate center, the mortgage interest rate will also decrease steadily. On the other hand, local regulation will remain "loose outside and tight inside", the new talent policy will continue to exert its strength, and the "four limits" regulation will be partially relaxed, but the overall policy environment will continue to be tight.
Based on this, the overall transaction scale in 2020 is expected to be the same as this year or slightly increase, and the market of cities with different energy levels will be relatively independent. The property market in first-tier cities is expected to heat up slightly, while the overall stability of second-tier cities will continue, and the callback pressure will mainly focus on most third-and fourth-tier cities with serious overdraft demand in the early stage and lack of fundamental support. On the other hand, the investment in real estate development will keep a steady and slightly declining trend, and the acceleration of construction and completion will provide solid support for it. The cumulative growth rate of newly started area will gradually decline. Due to the tight capital and low base, the growth rate of land acquisition area will continue to rise, but the growth rate is relatively limited.
Performance: the scale growth tends to be stable, and the high-quality development of enterprises is the key.
Although the overall market pressure will be reduced in 2019, the market environment for the industry to maintain long-term stable development has become clear. It is expected that the overall scale growth of enterprises will enter a stable period in 2020, and the overall growth will remain stable. At the same time, the competition among echelon housing enterprises in the top 100 will intensify, and the differentiation pattern will also continue. Under such an industry background and competitive pattern, the strategy of housing enterprises should be based on prudence and stability. For housing enterprises, preventing risks and better adapting to market adjustment are the top priority.
At present, the era of housing enterprises blindly pursuing full-caliber sales scale has passed, and the development focus of enterprises has gradually shifted from "increment" to "quality improvement". While the overall target growth rate of housing enterprises is slowing down, the industry will also pay more attention to the high-quality growth of performance. In the context of market pressure, the growth of enterprise sales scale can not simply depend on the increase of supply, and the fierce industry competition in the future will put forward higher requirements for the organization, control and operation of housing enterprises themselves. Urban layout, brand effect, project quality and product strength will all be important components of the future core competitiveness of housing enterprises.
Investment: cash is king, and new investment continues to be cautious.
In 2020, the investment of housing enterprises will remain cautious, and differentiation, focus and prudence are the main themes. First of all, under the background of loose policies and tight financing, the cash pressure of most enterprises has increased sharply. It is expected that the investment attitude of enterprises will continue the conservative trend in the past two years, and land acquisition will return to rationality. Secondly, as the land market cools down and the comparable land price tends to fall, the land market in different cities may be divided, and some cities with "the bottom line has not fallen and is expected to decline" may make concessions under local financial pressure. On the whole, the overall investment rhythm in 2020 will show a situation of "loose before and tight after". If the land acquired before the year can be listed within the year, it will still be attractive to enterprises with high turnover.
In the choice of cities, contraction, focus and regional deep cultivation will be the main strategic directions for the future layout of housing enterprises. In 2020, we should focus on first-and second-tier cities and provincial capital cities with rebounding market. In the choice of third-and fourth-tier cities, we should avoid full coverage and excessive sinking, be alert to the irrational rise of land prices and serious population loss in the early stage, and focus on the third-and fourth-tier cities with industrial support under the dividend of the city circle, such as the integration of the Yangtze River Delta and the satellite cities in Guangdong-Hong Kong-Macao Greater Bay Area. From the perspective of rotation, after a wave of adjustment in the third-and fourth-tier cities around the core of these rings, the future development prospects are still huge under the impetus of urban agglomeration and urban agglomeration dividends.
Financing: The financing environment is low, and the hematopoietic capacity of the enterprise itself is the key.
After the first quarter of 2019, the financing environment of housing enterprises is basically at the bottom, and the financing difficulty of housing enterprises has increased significantly after the window period. It is expected that the financing of housing enterprises will remain at a low level in the short term. From the perspective of financing costs, the financing costs of most enterprises are rising in 2019, mainly because the financing costs at home and abroad, especially the cost of issuing bonds abroad, continue to rise. And affected by the continuous increase of domestic financing restrictions, the proportion of overseas financing of enterprises has also continued to increase. It is expected that the financing cost of housing enterprises will continue to remain at a high level in the future.
In terms of financing channels, traditional financing channels such as trust loans, bank loans, corporate bonds and overseas debts are subject to more and more restrictions. Although the financing scale of asset securitization products has increased, it is still limited for the overall financing relief of housing enterprises. On the other hand, although the listing fever continued in 2019, the number of newly listed real estate enterprises continued to remain at a high level. But for housing enterprises, listing does not mean that it is a matter of course. From the perspective of long-term development, how to improve the repayment ability of enterprises, optimize their own financial structure, achieve high-quality development, and gain recognition from the capital market determines the ultimate benefit of housing enterprises’ listing.
Products: The housing returns to the essence of living, and the era of product bonus is coming.
At present, most large-scale housing enterprises have begun to cultivate deeply after completing the national layout, and the product war of housing enterprises has begun. As residential products begin to return to the essence of living, more housing enterprises will exert their strength from the product side and seek profit increase by creating product premiums. We believe that the product development of real estate enterprises in the future will have the following major trends:
First of all, more and more housing enterprises will focus on the standardization of product systems and promote the digital application of real estate. While strengthening the collaborative mechanism, we will further improve work efficiency and empower data-driven decision-making and production integration. Secondly, the change of customer demand accelerates the spatial innovation of residential units, and the customization and refinement of residential products will become a trend in the future. In the future, the continuous release of demand for diversification and improvement will force housing enterprises to accelerate the spatial innovation and refined development of product units. Third, in the pursuit of a better life, buyers’ measurement of living experience will gradually extend from the apartment type itself to the construction and operation of residential community space. The construction and operation of residential community space will also become one of the main selling points of future housing projects. Finally, with the increasing number of young buyers, the acceptance and recognition of intelligence will also be significantly improved. With the help of science and technology, smart homes and smart communities will be more used in projects, and the wave of product intelligence will continue.
Diversification: strategic convergence and focus, with real estate business as the axis extension.
In recent years, many large-scale housing enterprises have contracted diversified businesses and focused on the development of their main businesses through strategic adjustment. In the future, the overall diversification strategy of enterprises will become more cautious. On the one hand, it is difficult for some housing enterprises to find a suitable profit model for their diversified businesses, and the input-output efficiency is less than expected, thus dragging down the overall development of enterprises. Timely divestiture is a reasonable choice under the strategic contraction of housing enterprises. On the other hand, in the process of continuous exploration and trial and error of diversified business development, housing enterprises will pay more attention to tapping the potential of strong business, realize the effective allocation of resources, strengthen the focus and give play to their strong advantages. The diversified business of enterprises will still focus on the ecological business of real estate, with a clearer development direction and closer synergy with the main business of real estate.
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