Zeng Yu, deputy director of the Propaganda Department of Fuzhou Municipal Committee and director of the Information Office of the Municipal Government-

　　Ladies and gentlemen, friends from the press,

　　Good afternoon everyone! Today, we are here to hold a press conference on the prevention and control of COVID-19 epidemic in Fuzhou, to inform about the situation and answer questions from reporters.　

　　Present at the conference were: emergency headquarters, executive deputy commander of COVID-19 epidemic prevention and control work in Fuzhou, and Ms. Sun Xiaolan, deputy mayor of the Municipal People’s Government; Mr. Guo Yong, Director of Fuzhou Health and Health Commission; Mr. Dong Jingtai, Head of the People’s Government of Jin ‘an District. First of all, please invite Ms. Sun Xiaolan to brief us on the situation.

Sun Xiaolan

　　Sun Xiaolan, executive deputy commander of emergency headquarters and deputy mayor of the municipal government for the prevention and control of COVID-19 epidemic in Fuzhou-

　　Dear friends from the media:

　　Good afternoon everyone! Below, I would like to inform you about the epidemic prevention and control work in our city. There are two main aspects:

　　First, the basic situation of the case

　　As of 24: 00 on the 26th, Fuzhou had reported 186 asymptomatic infections and 5 confirmed cases, among which 63 cases were added that day. A total of 4,584 people were secretly contacted and 2,505 people were secretly contacted, all of which have been included in the control. There are 24 middle-risk zones in the city, including 17 in Jin ‘an, 5 in Minhou and 2 in Minqing.

　　II. Disposal of epidemic situation

　　In view of the current epidemic situation, the following work has been carried out:

　　1. Further strengthen social control. In order to quickly and effectively block the spread chain of the epidemic, starting from the 26th, the city suspended all gathering activities such as culture, entertainment, sports, folk customs, sales promotion, etc. When citizens enter supermarkets, pharmacies and other places, they need to hold a 48-hour negative nucleic acid certificate, and strictly implement normal prevention and control measures such as code scanning, temperature measurement and wearing masks.

　　2. Fully protect the rights and interests of candidates. On October 29th, the national qualification examination for primary and secondary school teachers in the second half of 2022 will be held. Nearly 50,000 people in our city will take part in this examination, which is a major event that concerns every candidate. According to the principle of "being able to take all the exams", we will accurately arrange the candidates’ code assignment, refine and improve the examination organization, and set up a special examination room for candidates with yellow codes to ensure the normal examination. Please pay close attention to the relevant reminder messages and official announcements, and take the exam for health.

　　3. Ensure people’s medical needs. In order to effectively protect residents’ demand for medical treatment during the epidemic, starting from 8: 00 on the 28th, we changed Jin ‘an District Hospital into a designated hospital for "red and yellow code" patients, providing medical services for "red and yellow code" patients in four urban areas, especially fever, tumor and pregnant women, and other counties (cities) also set up "red and yellow code" designated wards. In the next step, we will also provide medical services to citizens in high-risk areas by making rounds, providing on-site services and sending medical staff.

　　Citizens and friends, at present, we are at a critical moment in the race against the virus. In the next few days, I hope that everyone will consciously slow down the pace of life, calm down, not gather, not eat at home, and work at home. Now we are slowing down together to make this city get better faster. Thank you again for your understanding and cooperation. Thank you!

　　Zeng Yu:

　　I thank Ms. Sun Xiaolan for her briefing. Next, answer questions on the spot, please raise your hand before asking questions, and please report your identity after being invited. Now let’s start answering questions.

Fujian news broadcast reporter

　　Fujian News Radio reporter:

　　Recently, many citizens have reported that the health code has been given a "yellow code". Excuse me, under what circumstances will the health code be given a "yellow code"? How can citizens turn to green codes after being assigned yellow codes?

Guo Yong

　　Guo Yong, Director of Fuzhou Health and Health Commission:

　　Thank you for your questions.

　　In the epidemic prevention and control work, in order to beat the spread speed of the virus and gain precious time for the epidemic treatment, the staff will first assign "yellow codes" to the health codes of some people, including potential associates who have "time and space intersection" with positive infected people, mixed management personnel who are initially screened positive for regional nucleic acid testing, etc. This is an important health management measure for the epidemic prevention and control work in COVID-19, which can make the yellow code personnel reduce social activities, take the initiative to accept nucleic acid testing, and reduce the risk of epidemic spread.

　　Yellow coding is carried out by all levels and departments in accordance with the requirements of epidemic prevention and control, and the coding and transcoding of "Fujian Health Code" is managed and operated by the provincial platform. The related personnel screening is to obtain the owner information through the calculation of the mobile communication base station. Due to the large number of visits during this period, there will be a phenomenon of information transmission delay. Due to the need of epidemic prevention and control, there are certain restrictions on the "yellow code" personnel entering public places and taking public transport, and please understand.

　　If a citizen friend finds that his health code is yellow, please handle it according to the reason of "yellow code" prompted by the health code, and be sure to do the following:

　　1. Immediately report to the community and cooperate with the community investigation and management.

　　2. Wear a mask regularly, and go to the nearest "yellow code" nucleic acid sampling point for free nucleic acid detection as soon as possible (the information of yellow code and green code sampling points has been updated through "Fuzhou Health and Wellness" official website and WeChat WeChat official account).

　　3. Implement the "three-day two-test", that is, complete two nucleic acid tests within three days, and the interval between the two tests is not less than 24 hours.

　　After all the test results are negative, they can automatically turn into green codes.

　　At the same time that the health code is given yellow code, the city will send SMS reminders to the yellow code crowd. If the nucleic acid test has been carried out as required after being assigned the yellow code and the result is negative, it will be removed from the yellow code list; However, in the case of a large number of people with yellow code, there are cases where individual short messages are sent late and yellow code reminder short messages are received after turning to green code. The actual status is subject to the health code display. Remind citizens and friends in particular to pay attention to protecting personal information during the epidemic, and not to lend out identity documents, communication tools, electronic accounts, etc., so as not to affect the accuracy of coding.

　　Everyone is the first responsible person for his own health. The prevention and control of epidemic situation needs your joint efforts. Here, I also appeal to the general public and friends to understand and support the policies of epidemic situation prevention and control in a responsible attitude towards themselves, their families and friends, actively cooperate with nucleic acid detection, implement classified health management measures, and jointly win this war of prevention and control of epidemic situation. Your cooperation is our greatest support! Thank you all!

　　Zeng Yu:

　　Thank you! Please keep asking questions.

People’s Daily reporter

　　People’s Daily reporter:

　　In the past two days, the risk area in Jinan District is expanding. How to delimit and control the risk area and how to quickly block the risk of epidemic spread?

Dong Jingtai

　　Dong Jingtai, the head of Jinan District People’s Government:

　　Thank you for your question. I will answer this question. For the delineation and control of risk areas, we strictly follow the requirements of the ninth edition of the prevention and control plan of the State Council, scientifically judge, timely adjust and continuously optimize according to the trajectory of case activities and the risk of epidemic spread, combined with the guidance of provincial and municipal experts. At present, there are 17 medium-risk areas in our district, involving 41,500 people, and strict control measures such as "people don’t leave the area, taking things at the wrong peak" are implemented. At the same time, arrange district leaders to lead a team to form a special work class, and actively do a good job in life service guarantee and humanistic care in the risk area, so as to achieve strong control and temperature service.

　　In the face of the current epidemic situation, on the basis of doing a good job in the control and service guarantee of key populations in risk areas, we will further improve and implement various epidemic prevention measures, adhere to the principle of "quick word first, quick control, and fully block the risk of epidemic spread. Focus on three tasks:

　　The first is to improve rapid disposal. Further co-ordinate the multi-level forces of cities, districts, towns and streets, and join forces with health, disease control, public security, traffic police, urban management and other teams, and set up a special class of more than 400 people to ensure that key personnel can be locked immediately after receiving information about the epidemic, and quickly implement the work of chasing the sun, such as local control, door-to-door sampling, specimen inspection, detection and tracking, personnel transfer, isolation and disinfection, so as to find out the people involved in the epidemic as quickly as possible.

　　The second is to deepen comprehensive screening. At present, several rounds of regional nucleic acid detection have been carried out in our district. In view of the existing shortcomings, we timely improved measures, rationally optimized the yellow code and green code detection channels, increased on-site order guidance and maintenance, and urged the implementation of protective measures such as wearing masks and one-meter lines, and implemented various convenience service measures. For some people with mobility difficulties, we conducted door-to-door sampling, and for some citizens who failed to participate in nucleic acid detection in time, we accurately pushed SMS reminders to improve the coverage and efficiency of nucleic acid detection.

　　The third is to reduce social risks. In order to further effectively block the risk of epidemic spread, we have shut down hotels, restaurants, scenic spots, religious sites, cinemas, libraries, cultural centers, gymnasiums and other facilities within our jurisdiction, suspended gathering activities, and sent government officials to the front line to deepen the creation of "epidemic-free communities" and strengthen grid prevention and control at the grassroots level. At the same time, strictly implement various urban management control measures, guide the public to leave the banyan tree unnecessarily, and put an end to the risk of spillover.

　　I would like to take this opportunity to sincerely thank the general public and friends for their understanding, support and active cooperation in epidemic prevention and control, and work with us to resolutely win the epidemic prevention and control war and annihilation war! thank you

　　Zeng Yu:

　　That’s all for the on-site Q&A. Thank you for your questions and answers from the publishers. This afternoon’s press conference is over, thank you!

　　At 3: 19 pm on the 3rd, a fire broke out in the central air conditioning unit of the platform on the 6th floor of Longsheng Building, No.23 Hongwu Road, Qinhuai District, Nanjing, and the on-site open flame quickly burned to the 26th floor along the external wall of the 6th floor. The Nanjing Fire Command Center dispatched 17 fire engines and more than 150 police officers to the scene. In less than half an hour, the fire was extinguished and about 200 people were evacuated. No injuries were caused by the fire.

　　Yangzi Evening News reporter learned at the scene that Longsheng Building is a 28-story office building, and the platform on the 6th floor has an air conditioning unit, and a fire broke out due to a fault. Because of the strong wind that day, the fire shot up very quickly.

　　The investigation and handling of this fire accident is in progress.

　　Yangzi Evening News All-Media Reporter Ji Yuxuan Ren Guoyong

　　At first, the employees quickly saved themselves.

　　It’s useless to spray more than 20 cans of fire extinguishing agent, so we have to retreat

　　At 4 o’clock yesterday afternoon, the reporter of Yangzi Evening News rushed to the scene to see that a large number of police cars, fire command vehicles, large fire engines and ladder trucks were parked at Hongwu Road and Youfu West Street. The firemen are wearing breathing apparatus and are busy. A large number of evacuated employees are stranded around the building.

　　Mr. Bian of a company on the 8th floor of the building said that he was the first to find an open fire and took prompt measures. "I was sitting at my desk." Mr. Bian said that the fire happened to be just below his sight, so he found it at the first time. Mr. Bian said that at first he saw black smoke, and he didn’t care for the first few seconds. Later, he thought that a lot of black smoke must be on fire. So, he immediately called several other colleagues in the office. When everyone looked down, the fire had already burned.

　　"There are about 10 colleagues in the office." Mr. Bian said that they immediately went downstairs to find the property and explained the situation. Subsequently, more than 10 people and property staff came to the sixth floor together. "The fire has already started at this time. Fortunately, there are many of us." Mr. Bian said that everyone was holding fire extinguishers to put out the fire together, and all the fire extinguishers that could be transferred in the corridor were basically transferred. More than 20 cans of fire extinguishers were used, and the fire on the platform on the sixth floor was finally put out. However, the fire quickly moved to the outer wall and the office, and there was a door between the platform and the office area, which was always locked. At the critical moment, Mr. Bian and another colleague grabbed a fire extinguisher and slammed it at the door, finally breaking it open. Everyone found that there was a wooden floor in the office, and the fire was getting bigger and bigger, and the smoke was heavy and pungent, which was very choking. Subsequently, Mr. Bian can only temporarily withdraw from the fire with his colleagues.

　　On the steps at the entrance of Guotai Securities Building, a row of young men and women sat there. They are employees of a company on the 9th floor of Longsheng Building. "At that time, we went to work normally, and suddenly found a raging fire outside the south window. The fire was burning along the curtain wall, which was very scary. At the same time, someone shouted at the door of the company that there was a fire and evacuated." A female employee told reporters that dozens of people in their company were all evacuated to the ground through stairs in less than five minutes. "When there was a fire, all seven elevators were closed, and four of them led to the high area. Everyone was evacuated from the corridor, and the order was very good, so it was evacuated quickly." The female staff said.

　　Fortunately, the fire department arrived soon.

　　Soldiers split up and down in multiple ways, and the fire was quickly put out.

　　At the entrances and exits around the burning building, police and secret service personnel are on duty, and some areas are blocked with warning lines to prohibit irrelevant personnel from entering to avoid security threats.

　　A security guard told the reporter that the fire burned too fast this time. It only took about 3 minutes to burn from the 6th floor to the 26th floor. The tempered glass of the curtain wall kept falling, and the decorative plates around the curtain wall seemed to be flammable. Under the action of wind, it was impossible to save itself.

　　The reporter saw from Weibo, the official of Nanjing Fire Department, that Nanjing Fire Department mobilized two "water cannon trucks" to go to the scene to put out the fire. The anti-aircraft water cannon was erected on the downstairs of the building and sprayed water upwards. This water cannon can send the water column to an altitude of 60 meters.

　　The Yangzi Evening News reporter learned that another group of firefighters came to the top of Longsheng Building and sprayed water from top to bottom. In addition, the firefighters who entered the building put out the fire from the fire hydrant water pipe inside the building. At 3: 39 p.m., the fire was completely put out. Witnesses at the scene said that no one was injured and no ambulance appeared at the scene.

　　At the scene, a firefighter told reporters that the fire was located on the southwest side of the building, and there were many glass curtain walls on this side. "The wind is also very strong when there is a fire." He said that when the wind blows, the fire goes up. However, most of the external walls are glass curtain walls, and the glass can’t stand the burning of the fire and burst one after another. Subsequently, the fire ignited the attachments on the inside of the curtain wall, which gave people the feeling of burning a "1" shape.

　　The building is closed and the employees are in a hurry.

　　Oh dear! There are millions of cash in the office!

　　After the fire broke out and everyone was evacuated in an orderly manner, many company employees waited at the entrance and exit of the building. Two property workers guarded and prohibited them from entering.

　　"When will it open? I want to go up and get something!" "We want to go up and see what losses the company has!" At the door, many people asked anxiously. The property staff kept explaining that the fire is still being investigated and the hidden dangers have not been eliminated, so it is not possible to go in now.

　　A young man at the door said that his company has nearly one million cash in the office and is worried about safety. The reporter asked him, why did the company put so much cash? "Oh, I just brought it here today. When I was evacuated, there were still people in the company. Later, I don’t know what happened. I just reported it to my boss. The boss should let someone handle it." The young man said that he was still a little uneasy. Fortunately, the fire did not burn into the office area, but it was likely to be flooded.

　　In the parking lot on the downstairs side of Longsheng Building, many private cars were parked. After the fire broke out, the glass burst and fell from the upstairs, and many cars were damaged and broken by debris.

　　The reporter visited the inside of the building after the fire

　　The shower system can’t be turned off, and the office area becomes a shower room.

　　At about 5 pm, the building suddenly opened briefly, but it was only required to go up to the seventh floor. The reporter followed several employees to find out, there was no light in the corridor, and the water flowed along the stairs.

　　The corridor on the 6th floor was ankle deep, and the sound of rushing water was heard at the door of a company. The interior decoration of this company was a high-rise structure, with two floors, and the fire sprinkler system on the first floor was spraying water all the time, but it was still not closed. A notice was pasted on the glass at the door of the company, informing customers that the company had a holiday from the afternoon of April 30th to the 3rd during the May Day period, and went to work normally on the 4th. Therefore, when the fire broke out on the afternoon of the 3rd, the company was still on holiday, and no one was in the company.

　　After the fire broke out, the company sent a young man to the scene for disposal. The young man told the reporter that the boss was in the field, and he also came to see it temporarily. Now the company has been flooded, and he is eager to contact around, hoping to close the sprinkler system as soon as possible.

　　Later, the reporter came out of the building and found that the main entrances and exits were closed again, and they could only come out from the exit of the underground garage. The police were talking with the person in charge of the building property, asking him to arrange personnel to be on duty, only to be allowed to go out and not to enter, and at the same time asking the evacuated personnel stranded at the scene not to enter the building to prevent falling debris from high altitude.

　　pay close attention

　　The fire-fighting "Optimus Prime" also came and failed to show his skill.

　　The reporter found that among the fire engines on the scene, two ladder trucks were the most eye-catching, but one stopped at Huaihai Road and the other stopped at Hongwu Road, motionless. It is understood that the ladder truck, known as "Qingtian 101", is the highest ladder truck in Nanjing and the most advanced rescue vehicle. The ladder of the car can rise to 99 meters, and the maximum water spraying height can reach 150 meters. However, due to the lack of operating ground at the scene and the fact that the fire-fighting water cannon can completely achieve the goal, the ladder truck has never been able to show its skills.

　　When the fire burns

　　A rumor is also circulating.

　　Yesterday, when the fire broke out, the WeChat circle of friends spread a small video of "a black-faced policeman". Netizens said that this was a policeman who put out the fire on the spot, and his face was blackened. However, this is a rumor. These policemen are not from Nanjing at all, but the police on duty at the Mojiang activity site in Yunnan. During the activity, we "smeared each other’s faces" to celebrate the annual Hani Sun Festival.

[car home Changsha Preferential Promotion Channel] Recently, a generous preferential promotion activity was ushered in in Changsha, with the highest preferential margin reaching an astonishing 120,000 yuan! Now, the minimum starting price is only 209,900 yuan. If you are interested in this luxury car, you may wish to click "Check the price of the car" in the quotation form to get a higher discount!

The design of BMW 3 Series is full of sense of movement and luxury. Its front face adopts the iconic kidney-shaped air intake grille with sharp LED headlights to create a highly recognizable visual effect. The body lines are smooth, and the overall style is compact and dynamic, showing the consistent high-performance genes of BMW brand.

The body size of BMW 3 Series is 4728*1827*1452 mm, the wheelbase is 2851 mm, the front tread is 1583 mm and the rear tread is 1568 mm.. From the side, its lines are smooth, the proportion of the car body is coordinated, and the front face and tail design reveal a sporty atmosphere. In terms of tires, the car is equipped with 225/45 R18 front tires and 255/40 R18 rear tires. With 18-inch wheels, it not only provides good grip, but also shows its sports style.

The interior design of BMW 3 Series is simple and full of scientific sense. The layout of the center console is reasonable. The 14.9-inch central control screen occupies the visual center, which supports multimedia system, navigation, telephone, air conditioner, window and other functions. It can be operated by voice recognition control system, providing a convenient car experience. The steering wheel is made of leather, which supports manual up and down+forward and backward adjustment, ensuring that the driver can find the most comfortable driving position. The front seat is made of imitation leather and has heating function. The main driver’s seat provides functions such as front and rear adjustment, backrest adjustment, height adjustment (4-way), leg rest adjustment and lumbar support (4-way). The co-pilot seat also supports front and rear adjustment, backrest adjustment, height adjustment (4-way) and leg rest adjustment to meet the needs of different passengers. In addition, the car is equipped with USB and Type-C interfaces to provide passengers with convenient charging options, and the front seats also have wireless charging function of mobile phones to further enhance the technological experience.

The BMW 3 Series is equipped with a 2.0T turbocharged engine, with a maximum power of 180kW and a maximum torque of 400 N m. With the 8-speed automatic manual transmission, the excellent performance of the vehicle in terms of power output and driving experience is ensured.

Car home car owners mentioned in the evaluation that the spatial performance of BMW 3 Series is quite satisfactory, which is in line with the positioning of B-class cars. Although some space has been sacrificed, as the main sports model, such spatial performance is enough. In contrast, he once considered CT5, but finally chose BMW 3 Series, thinking that it not only meets the sports performance, but also meets the satisfactory standard in space performance.

K-line chart of high-voltage fast charging plate index day (Zhang Dawei drawing)

　　Near the end of the year, a number of investment strategies of brokers in 2024 have been released one after another, making the latest judgments on macroeconomics, market trends and sector allocation in the new year. Institutions generally believe that the macro economy will continue to improve next year, and A shares are expected to usher in valuation repair. However, there are different views among brokers on the judgment of market style.

　　Macroeconomic recovery is expected to continue next year.

　　Looking forward to the economic situation next year, many institutions believe that with the continuous efforts of policies, the domestic macro-economy will continue to improve and market confidence will be boosted.

　　Huaan Securities predicts that the endogenous growth of the domestic economy will be around 4.6% in 2024, and with the help of policies, it is still expected to achieve a GDP growth rate of around 5% throughout the year. The supporting factors mainly come from two aspects: on the one hand, with the endogenous recovery of the economy, consumption gradually stabilizes, which constitutes the basic disk of growth; On the other hand, under the policy guarantee, the investment side continues to exert its strength. One is to issue additional government bonds to support infrastructure investment, and the other is to stabilize real estate investment in affordable housing in urban villages. At the same time, the recovery of exports has driven the manufacturing investment to remain stable.

　　Dong Qi, the macro chief analyst of Guotai Junan Research Institute, believes that it is expected that the economic growth rate will continue to recover in 2024, the rhythm will be high and then low, and the pattern of low inflation will continue. PPI will turn positive in the second quarter, exports will improve relatively, and consumption and investment will remain resilient.

　　According to CITIC Securities, the domestic macro-economy is expected to be steadily restored and its vitality will reappear in 2024. The vitality of domestic micro-subject economy will be restored with the weakening of the US dollar and the strengthening of policies, and the economy will gradually return to the potential medium and high-speed growth level. In 2024, the domestic GDP is expected to increase by 5.1%, which is structurally characterized by "old kinetic energy for stability and new kinetic energy for progress".

　　A shares are expected to usher in valuation repair

　　Since the beginning of this year, affected by multiple internal and external factors, the A-share market has fluctuated obviously. How will the A-share market be interpreted in the new year? Many institutions expect optimism.

　　Zhang Xia, chief analyst of China Merchants Securities Strategy, said that looking forward to next year, the revenue and profit growth of A-share listed companies is expected to maintain a slight upward trend. In terms of funds, the implementation of the previous capital market reform measures will effectively improve the supply and demand of funds, and it is expected that the incremental funds will turn to net inflows in 2024. With the end of the Fed’s interest rate hike cycle and the shift to interest rate cuts and table expansion, the liquidity of the US dollar is expected to improve significantly. It is expected that foreign capital will resume a small net inflow trend in 2024, which will have a positive impact on A shares.

　　"Overall, driven by the above factors, the A-share market will show a volatile upward trend, and the main broad-based index is expected to record a slight increase." Zhang Xia said.

　　Zheshang Securities believes that the state of China’s economic operation is a key factor for the judgment of the general trend in 2024. With the help of the auxiliary description of inventory cycle, combined with the forecast of investment, export and consumption, it is predicted that A shares will show a trend of shock recovery in 2024.

　　CITIC Securities predicts that, from the rhythm point of view, the A-share repair will be more flexible in the first half of 2024, and may fluctuate and differentiate in the second half. It is expected that the New Year’s Eve to the first quarter of next year will be an obvious window to boost market confidence, and the slope of A-share repair will be the largest. With the verification of domestic economic targets and the slope of restoration, the reform of the investment side of the capital market continues to take effect, and the market is expected to continue to repair in the second quarter of next year, and the slope tends to be flat. It is expected that the market structure may begin to differentiate after the A-share valuation has undergone three stages of repair in the second half of next year.

　　What investment opportunities are worthy of attention?

　　Since the beginning of this year, the rotation of A-share theme has been accelerated, and the configuration is more difficult. Which investment direction is worth paying attention to next year, the dominant value style or the dominant growth strategy? In terms of style judgment, brokers have their own opinions, but the pre-judgment growth style is dominant.

　　Caitong Securities believes that the A-share market style is expected to be relatively balanced next year, and the valuation is expected to pick up. It is recommended to pay attention to the Science and Technology 100 Index and the Entrepreneurship 200 Index. Judging from the comparison with the historical bottom area and the characteristics of institutional heavyweights, many indicators of current A shares are at the bottom. Consumption, TMT and many other segments are cost-effective, and next year’s profit and valuation are expected to be Shuang Sheng, and the market is expected to warm up. Combined with multiple factors such as profit margin improvement and policy drive, the growth style of A shares may be relatively dominant next year.

　　Zhang Xia is also optimistic about the performance of growth style next year. He said that under the trend of bottoming out of profits and declining yield of US bonds, A shares may turn to growth style. From the perspective of industry, it is suggested to pay attention to science and technology, medicine and some cyclical stocks, and pay attention to the new energy sector after the second quarter, based on the comprehensive judgment of macro environment, science and technology cycle, supply and demand pattern of production capacity, changes in core driving factors of industry prosperity and market performance in the past two years.

　　Huaan Securities judges that the growth of the A-share market and the market of the consumer sector will alternate next year. Growing the main line of science and technology or leading the annual market, the main line of consumption is expected to follow closely. When the overall growth style is dominant, industries such as electronics and communications are preferred. With the stabilization of the real estate industry and the significant upward consumption of services, the consumption style is expected to gradually dominate.

　　Fang Yi, chief strategist of Guotai Junan Research Institute, believes that the small-cap theme market may cool down in the first half of next year, and the stable style of the large-cap market is expected to prevail. Since the beginning of this year, investors’ risk appetite has tended to be at both ends: small-cap growth stocks have risen, while large-cap blue-chip stocks have fallen. It is expected that the market of small-cap theme stocks with high-risk characteristics may ebb in the next stage, and investment opportunities may turn to large-cap stocks with low-risk characteristics. It is suggested to pay attention to investment opportunities of fixed-income bonds and related products.

On September 6th, according to the previous statement of Tesla CEO Elon Musk, the company has recently officially raised the price of the fully automatic driving (FSD) package of the advanced driver assistance system to 15,000 US dollars (about 103,900 yuan).

According to foreign media reports, some people believe that this FSD system is not worth $15,000 at present. ; Although it costs $9,000 more than the enhanced version of Autopilot, users only have the opportunity to experience the latest beta version of FSD.

Over the years, Musk has always said that with the continuous improvement of the functions of the FSD system, the car will eventually be fully autonomous. Tesla will also gradually increase the price of this system.

. Although the test has been carried out for two years, there is still a long way to go to realize the full automatic driving of the car.

From a technical point of view, the FSD system can run in most traffic environments, including crossing intersections, but the responsibility for driving still lies with the driver, who still needs to keep his attention and be ready to take over control at any time. The industry believes that the most important step for companies developing autonomous driving systems to achieve this goal is to be willing to assume the driving responsibility under the activation of the system.

Tesla has made it clear that this cannot be done. The company sent a series of warnings to users who participated in the FSD Beta test, clearly indicating that the driving responsibility still lies with the driver.

Tesla believes that every update of the FSD system means a step closer to the goal of fully autonomous driving, and that some of these updates are worthy of raising the overall price of the system.

Last month, Musk also reported that Tesla would increase the system price from $12,000 to $15,000 as the company launched the beta version of FSD Beta 10.69 on a larger scale.

On Monday, Tesla updated the price information of FSD on the vehicle customization page in official website-by $3,000-but did not include more new features. There are more words such as "coming online" and "automatic turning on urban roads" in the description of the page, which is still in the testing stage open to invited users, and it is not much different from the previous routine update.

source map

If the user already owns Tesla’s enhanced Autopilot system, there is nothing new except the opportunity to experience the latest beta FSD, and the test experience itself is not a reward.

Musk has made it clear that the value of a fully autonomous driving system far exceeds $15,000. He said that the price would continue to rise. In fact, the initial price of the FSD system was only $6,000. Now, what you buy with an extra $9,000 is not what users really want, but that you can bet on Tesla to provide real automatic driving function in the future, and you can start at a lower price.

However, it is not clear how Tesla can develop the beta FSD into a safe autopilot system that is willing to take responsibility.

　　As the countdown to the Spring Festival begins, do you intend to treat yourself and your family well by unloading the hard work and fatigue of the year? However, sugar friends pay attention, long holidays often break our daily habits and rhythm of work and rest. Short-term lifestyle changes have little impact on normal people, but it is still a big impact on sugar friends. Don’t just have fun secretly, come and think about what to do with blood sugar.

　　Du Ruiqin, director of the Department of Endocrinology, Rheumatology and Immunology of the Rocket Army Special Medical Center, gave sugar friends "3 sentences, 5 numbers".

　　3 sentences: Keep your mouth shut, open your legs and be regular.

　　5 figures: guarantee 1 bag of milk every day; Intake 200-250g carbohydrate every day; Ensure 3 servings of high-quality protein every day (1 serving of high-quality protein = 1 serving of pork = 2 serving of fish = 1 serving of egg); Keep in mind four sentences every day: the food is coarse and fine, not sweet or salty, eat less and eat more, and be seven or eight points full; Ensure 500g vegetables every day.

　　Let’s talk about the topic of shut up first:

　　Keep your mouth shut: eat reasonably and avoid "excess". During the Spring Festival, you can appropriately relax eating boiled vegetables and cold dishes; Cooking, fish, shrimp, lean meat, etc. can also be eaten properly, but friends with kidney disease and gout should be treated with caution; Sugar friends should also pay attention to the speed of eating, and chew at least 20 times for each bite of rice; To control alcohol addiction, if you really want to drink, you should choose white wine or dry red wine with low sugar content, or you can drink some beer, and it is best not to choose white wine; Resist the temptation of snacks.

　　Spread your legs: When friends and relatives get together, they often sit around a table in Kan Kan and talk. In fact, the chat can also be changed to after dinner (one hour after the first bite of the meal), and we can have outdoor activities together, and we can also talk while walking. If the environment does not allow, you can also choose to stay at home, do exercises, reduce blood sugar, and have heart-to-heart talks. What a happy thing.

　　Regularity: Vigilance is a traditional custom in Chinese. On this day of national celebration, sugar friends can also relax appropriately. After all, it is not easy to "control sugar" hard for a year, but it is necessary to grasp the degree of relaxation. We can go to bed late and get up late occasionally, but we can’t reverse day and night; Monitoring blood sugar should be regular: measure one if you are unwell, one after eating and drinking, one after staying up late, keep abreast of your physical condition, eat on time and live regularly.

　　Finally, tell sugar friends a small coup: when eating, choose a medium-sized disc, with a little for each dish and a little for the staple food, and you will find that you can also fill a plate. The food in this plate is the amount of food you eat this meal. You must be able to do this, right? Looking forward to your answer.

　　Text/Li Xia Mo Peng (Rocket Army Special Medical Center)

　　CCTV News:Recently, the Protection Administration of Old Town of Lijiang, Yunnan Province issued the Interim Measures for the Administration of Access and Exit of Market Operation Projects in Dayan Ancient City of Lijiang, which came into effect on April 1, 2019 and was valid until March 31, 2022. The method clarifies the Negative List of Business Projects in Old Town of Lijiang, which is divided into two categories: restricted access category and prohibited access category (timely adjustment).

　　There are seven categories of restricted access projects that are not allowed to operate, including catering, tambourines, bars, jewelry, jade, jade, beeswax, amber, farmers’ markets, tea bars, cosmetics and so on. Prohibited access categories include open-flame barbecue, dance halls, Internet cafes, digital products, sauna massage, beauty salons, modern clothing sales and other 16 categories.

　　CCTV reporter learned from Old Town of Lijiang Protection Administration that the business projects discouraged in the measures will be strictly controlled and will not be approved in principle. Operators who have already obtained the Access Certificate for World Cultural Heritage Old Town of Lijiang Business Projects or the Permit for Old Town of Lijiang Business in Scenic Areas will gradually reduce their scale and quantity according to regulations, and gradually guide them to switch to business. For the business projects prohibited in the measures, if they have existed before the implementation of these measures but have not been transferred to the business in time, the ancient city protection and management institutions and relevant industry departments will jointly guide them to transfer to the business or withdraw from the business in the ancient city.

　　The measures also pointed out that operators engaged in business activities in the area of Dayan Ancient City in Lijiang are strictly prohibited from taking unfair means to compete for tourists and soliciting customers, slaughtering customers, bullying customers and other illegal acts that disrupt the tourism order and business order of the ancient city. In addition, this method also clarifies the decoration style of business premises in the ancient city, including that the pattern and style of shops must follow the basic form of traditional commercial shops in Old Town of Lijiang, and the traditional architectural style must not be destroyed when the original dwellings are repaired.

　　(CCTV reporter Jiang Houbo Qin Fen)

　　The market rumors of Pfizer COVID-19’s oral medicine imitation license have been confirmed.

　　On March 17th, official website, a pharmaceutical patent pool (MPP), announced that it had signed agreements with 35 companies, which were allowed to copy and produce nirmatrelvir, one of the ingredients of Paxlovid, an oral drug of Pfizer COVID-19.

　　According to the map released by official website, the countries involved in the agreement are distributed in 12 countries around the world, among which 6 companies will focus on the production of APIs, 9 companies will produce drugs, and the remaining 20 companies will have both. There are five pharmaceutical companies in China, including Huahai Pharmaceutical (600521), Puluo Pharmaceutical (000739), Fosun Pharmaceutical (600196), Jiuzhou Pharmaceutical (603456) and Shanghai Disino, among which Jiuzhou Pharmaceutical only produces APIs, while others can produce APIs and preparations at the same time.

　　It is worth noting that the agreement will help to expand the accessibility of Pfizer COVID-19 oral medicine in 95 low-and middle-income countries, accounting for about 53% of the world population, but excluding China.

　　Earlier on March 17, the above news was circulated in the market, and the above listed companies once had a daily limit. Previously, it was rumored in the market that Puluo Pharmaceutical could only produce APIs. According to the newly published map, Puluo Pharmaceutical can produce both raw materials and preparations.

　　It is worth noting that a Ukrainian company is also on the list of 35 companies. MPP said that due to the current conflict, it could not be signed, but the license could still be used.

　　According to the data of official website, the Pharmaceutical Patent Pool Organization is a public health organization supported by the United Nations, which is committed to increasing access to life-saving drugs for low-and middle-income countries and promoting drug development.

　　On January 20th, local time, the Pharmaceutical Patent Pool Organization (MPP) announced through official website that it had signed an agreement with 27 pharmaceutical companies to allow them to produce and supply the oral anti-Covid-19 drug Molnupiravir of Merck to 105 low-and middle-income countries or regions around the world, so as to promote the affordability and accessibility of the drug in the world. Five China pharmaceutical companies, such as Fosun Pharma, Borui Pharma, Shijiazhuang Long Ze Pharmaceuticals, Shanghai Diseno and Langhua Pharmaceuticals, are among them, of which the first four are allowed to produce both raw materials and finished products, and Langhua Pharmaceuticals is allowed to produce raw materials.

　　In other words, two pharmaceutical companies, Fosun Pharma and Shanghai Disino, have obtained the rights to prevent and control the production of Pfizer and Merck.

　　Pfizer’s Paxlovid is a combination of PF-07321332 and ritonavir, which has been approved for conditional marketing in China. Molnupiravir of Merck is a nucleoside drug in oral form, which has not been approved in China.

　 　 Special feature of 1905 film network After that, Xu Haofeng was spread more and more. The media is eager for legend, and peers are looking forward to performance. In addition to the common names such as writer, director and martial arts instructor, rumors have claimed that this college teacher has become the head of a certain sect. However, just as he and the famous "academic" directors in recent years can’t be easily classified into the ranks of China directors divided by generations, Xu Haofeng and his films can’t simply be classified as traditional martial arts films. This made Xu Haofeng embark on a completely different road from the previous martial arts movies since he made his debut in 2012. And to this part, not only is the master passing by, but you can almost see the entrance of the school.

　 　 Record companies always advertise newcomers with the banner that "no one has ever sung like him". This sentence can also be used in Xu Haofeng’s name: no one has ever made a martial arts movie like him. It is precisely his strength and fortune to break the wind direction led by Hong Kong for a long time. Nowadays, the brand of the new school of martial arts can definitely afford to make movies by taking moves from oral instruction.

　 　 The film has been in China for 110 years, and the martial arts film has a history of 87 years. Since the first martial arts film, most chivalrous swordsmen wear Peking Opera bunt and follow the routine of Wusheng peking opera blues. What did the ancients wear? It was not until two great directors, Li Hanxiang and Hu Jinquan, that the film circle became addicted to textual research, and gradually took off their costumes and embarked on the road of life. However, the improvement of martial arts drama is not so easy, and Hong Kong people carry forward the title of "martial arts director" to shoot action scenes instead of directors.

　 　 Although there is no martial arts in the Hong Kong martial arts circle, Liu Jialiang, the famous director, is a direct descendant of Hongquan. However, the mainstream still belongs to Cheng Xiaodong and Yuan Heping, who have a background in Peking Opera, and Jackie Chan and Sammo Hung, members of the "Seven Little Happiness" from the troupe. These martial arts refers to the "monopoly" of Hong Kong martial arts films, which makes the action scenes more and more dazzling, in order to highly purify the word entertainment. It made the martial arts films develop into the 90′ s full of gods and buddhas. The action styles they created also spread from Hong Kong to Greater China and even Hollywood. After the new millennium, Zhang Yimou is still the remnant of Xiangjiang River, which is a trick and a half, and all of them eat the old money accumulated over the years. This year, Chen Kaige remake a novel from Xu Haofeng, and the martial arts instructor still invited Ku Huen Chiu from Yuan Jiaban, playing the same trick as Stephen Chow 10 years ago. Therefore, the appearance of Xu Haofeng and his films is just to get rid of the action design of Hong Kong martial arts films and return kung fu to Wulin. This year’s Golden Horse Best Action Design Award of Master is absolutely justified.

　 　 In Master, Liao Fan, the hero, played Wing Chun. In the Republic of China, Tianjin was mixed with foreign countries, and the kinds of boxing flourished; Wing Chun is just a small boxing in the north, and there are a lot of local sects in Tianjin in the story. Xu Haofeng is a practitioner. Although he has never played Wing Chun, his cooperation with Wong Kar-wai has made him know many Wing Chun masters. The rest of the boxing and even the sword and halberd have the director’s own textual research results for many years. With this foundation, "Master" can be described as full of confidence. In addition to fists and fists, weapons are another highlight in Master. In the street fighting at the end of the film, Liao Fan held an eight-blade wing chun weapon, and all the tricks and styles he made were also verified by Xu Haofeng from the previous generation. Xu Haofeng didn’t design any fancy and unpractical lens, but Liao Fan’s intention in the movie was to preach the knife method, which sounded like what Xu Haofeng himself wanted to say to you: I showed all my moves, and how much I took depends on the individual.

　 　 The implication of dialogue is another feature of Xu Haofeng. With his participation, the script of "A Generation of Masters" was once eloquent. The words in "Master" are divided into three parts, which is the same as the rhythm of the film, and it is also integrated with the style of Xu Haofeng’s novels. The film relies on the original work, so it is extremely literary. In the first half of the film, Master Chen Shi, played by Liao Fan, got acquainted with Tianjin Wuxingtou brand, and Zheng Shanao, played by Jin Shijie, was intended to make a name for himself. Although Zheng Shanao fully assisted, he also intended to use Chen Zhifeng to retire. After the relationship between this group of characters is abstract, it is the template of the so-called borrowing people to ascend to heaven and becomes a skeleton in the literary sense. Filled with flesh and blood, it is only in the moments when the director is most ruthless that the wound is torn open, so that you can see what the bones and muscles that support the flesh look like. From this perspective, the martial arts action scene is only the first layer of the film, and it is also the most eye-catching commercial element; The helpless sigh for the lost years is the second obvious layer, while the core refers to the interaction between people in any society. The inherent richness and ambiguity of the film also makes Master surpass the previous martial arts films and appear more authentically.

　 　 In addition to the literary significance of Master, Xu Haofeng still wants to make sense out of things, saying "rules", the two most beautiful words in the film. In Zheng Shanao’s mouth, the rules were established by ancestors and handed down by the people; In the eyes of curator Zou, played by Jiang Wenli, rules are just the game of those in power. The confrontation between these two logics is precisely the confrontation between the old and the new in this era of the Republic of China. Fame in World War I is only the plot in the story. From the first movie, Xu Haofeng tried to put the truth he believed in into the characters. However, this only created a thousand people’s side in The Trail of the Enemy. It was not until this "Master" that martial arts became successful, with the times as the skin and the characters as the bones.

　 　 Therefore, Master, as a martial arts film, is unique in two aspects, one is the innovation of action design, and the other is the significance of martial arts film as a genre film. These two layers coexist and grow together, and they are both inside and outside each other. In the film reviews he once wrote, Xu Haofeng himself wrote that the fear of certain things supports a genre film, while the martial arts film should be the fear of modern guns. Xu Haofeng abandoned Weiya and body double and told such a story in the Republic of China, which was precisely the practice of his own theory.

　 　 In the film, Liao Fan uploads his fist to the north alone, comes from nowhere, and leaves with an unknown surname, leaving only the street legends of his disciples who fought in eight martial arts schools in Tianjin. In reality, Xu Haofeng’s "Master" is actually a real northern fist going south, and the ability to settle down has been revealed, which won the Golden Horse Award. However, for Xu Haofeng, it is still famous and has not yet been established. To be a great master, it is necessary to shine a light on future generations. Therefore, people can’t help but expect that Xu Haofeng’s skill will eventually be learned by what kind of latecomers.

　　Lanqi Technology released the record of investor relations activities on June 6, and the company was investigated by 70 institutions on May 30, 2022. The types of institutions are QFII, insurance companies, others, fund companies, overseas institutions, securities companies and Sunshine private equity institutions.

　　The main contents of investor relations activities are introduced:

　　(I) Brief introduction of the performance in the first quarter of 2021 and 2022. Ms. Fu Xiao, secretary of the board of directors of the company, briefly introduced the performance of the company in 2021 and the first quarter of 2022.

　　[Summary of main operating conditions in 2021] With the company’s Tianjin arrest? A major breakthrough was made in the CPU business, and the first generation memory interface chip and memory module supporting chip of DDR5 were officially mass-produced and shipped in the fourth quarter of 2021. In 2021, the company achieved an operating income of 2.562 billion yuan, a record high in the company’s revenue, with a year-on-year increase of 40.49%, and a net profit of 829 million yuan, down 24.88% year-on-year. In the fourth quarter of 2021, the company’s revenue was 969 million yuan, achieving continuous growth in a single quarter, setting a new record for the company.

　　In the fourth quarter of 2021, the company’s interconnected chip product line revenue was 601 million yuan, a record high for the product line in a single quarter; Tianjin arrest? The annual revenue of the server platform product line was 845 million yuan, a year-on-year increase of 27.5 times.

　　The company insists on technological innovation and attaches great importance to research and development. During the reporting period, the company’s R&D expenditure was 370 million yuan, up 23.33% year-on-year, accounting for 14.44% of operating income.

　　By the end of 2021, the company had 373 R&D technicians, a net increase of 56 compared with the end of 2020, accounting for 71% of the total number of the company, with master’s degree or above accounting for 65%. The company’s R&D technical team has been further expanded and its overall strength has been further strengthened.

　　In 2021, the company obtained 17 authorized invention patents, and the number of authorizations increased by 89% year-on-year; 48 new invention patents were applied, and the number of applications increased by 37% year-on-year; Newly acquired 16 integrated circuit layout designs, up 78% year-on-year; Two new software copyright registrations were obtained.

　　The company and its products have been continuously affirmed by customers and industries, and they have been elected as "Single Champion Demonstration Enterprise of Manufacturing Industry" and "National Technology Innovation Demonstration Enterprise" by the Ministry of Industry and Information Technology, and they have been elected as members of the board of JEDEC (China was selected as the only chip company among the three enterprises), which reflects the company’s position in the industry.

　　[Operating results in the first quarter of 2022] In the first quarter of 2022, the company achieved revenue of 900 million yuan, a year-on-year increase of 201%; The net profit of returning to the mother was 306 million yuan, a year-on-year increase of 128%; Deduction of non-homecoming net profit was 231 million yuan, a year-on-year increase of 211%; The net cash flow from operating activities was 259 million yuan, a year-on-year increase of 101%.

　　As of March 31, 2022, the company’s total assets were 9.4 billion yuan, including net assets of 8.8 billion yuan.

　　In the first quarter of 2022, the company’s interconnected chip product line achieved revenue of 575 million yuan, a year-on-year increase of 94%; Tianjin arrest? The server platform product line achieved revenue of 325 million yuan, a year-on-year increase of 99 times. In the first quarter of 2022, DDR5 related products continued to be shipped, and Tianjin arrested them? The server platform business has developed steadily, and the company’s operation is relatively stable.

　　[R&D progress of major products in 2021 and key points of R&D work in 2022] In addition to products that have been mass-produced in 2021 and products under development, the company has actively made technical reserves in some new technologies and products, laying a solid foundation for the follow-up research and development of new products. In the process of research and development of existing products, the related underlying technologies are constantly precipitated, and the research and development of new products are constantly fed back. On the whole, the company continues to innovate its products around its own technology and market ability, and realizes the positive cycle of "reserve research and development-mass production".

　　The progress and R&D achievements of the company’s main products in 2021 are as follows:

　　(1) interconnection chip product line: the first generation memory interface chip of DDR5 and the supporting chip of memory module are mass-produced, and the second generation memory interface chip of DDR5 and PCIe5.0Retimer engineering samples are completed.

　　(2) Tianjin Capture Server Platform Product Line: In 2021, the third generation Tianjin Capture CPU was launched.

　　(3)AI chip: complete the logic design, system integration and verification of the main subsystems of AI chip, promote the system construction of AI and big data software ecology, and complete the main function verification and performance evaluation of typical application scenarios.

　　In 2022, the company will continue to invest in R&D innovation, and the key points of R&D work are as follows:

　　1. Steadily promote the iterative upgrade and research and development of existing products;

　　(1) interconnection chip product line: complete the research and development of DDR5 second-generation memory interface chip and PCIe5.0Retimer production version, and make preparations for quality certification before mass production.

　　(2) Tianjin arrest? Server platform product line: complete the fourth generation Tianjin arrest? CPU research and development, and realize mass production;

　　(3)AI chip: complete the first generation AI chip engineering sample streaming.

　　2, start a number of new product research and development design work:

　　Including CKD chip, MCR RCD/DB chip and MXC chip, the goal is to complete the first generation of product engineering samples of the above three new products before the end of 2022. At the same time, the company’s new "2022 Restricted Stock Incentive Plan (Draft)" sets the assessment indicators for 2023 as follows: the above three new products have completed the research and development of mass production versions and achieved shipment.

　　(1)CKD chip: DDR5UDIMM and SODIMM for the new generation of desktop and notebook computers.

　　(2)MCR RCD/DB chip: a high-bandwidth memory module for servers and data centers.

　　(3)MXC chip: used for memory expansion and memory pooling of the server.

　　[Product Layout] At present, the company carries out strategic product layout around two areas: high-speed interconnection and high-performance data processing.

　　(1) Interconnected chips belong to "fast chips" and are related to the underlying technology. Based on the technical and market advantages in the field of memory interface chips, the product layout is gradually extended to memory module supporting chips, PCIe and CXL related chips.

　　(2) Data processing chips are "big chips", including Tianjin CPU and AI chips. Is the company developing Tianjin arrest? In the process of CPU, the technical ability in the field of data processing chips is gradually accumulated, and there are more opportunities to meet the needs of server manufacturers and end users. Combined with the company’s technical reserves in DDR and CXL, it laid the foundation for the research and development of AI chips.

　　Generally speaking, the company’s product layout starts with the memory interface chip, and is extended to Tianjin and Shenzhen under the dual drive of technology and market. The server platform, memory module supporting chips, PCIe Retimer chips and AI chips are now further expanded to CKD, MCR RCD/DB and CXL related chips, and we will see the company’s richer product layout in the future. The company’s sub-sectors and products under research have high commercial and technical thresholds. Because the company has certain technical advantages and resource endowments in related sub-sectors, we are confident to participate in the global competition of related products. The company hopes to expand the accessible market scale in the future, consolidate its competitive advantage and lay a solid foundation for long-term healthy and stable development by continuously enriching product categories.

　　(two) the main questions and answers to the exchange.

　　Q: Please look forward to the penetration rate of DDR5 related products.

　　A: In the fourth quarter of 2021, DDR5 memory interface chip and memory module supporting chip have been officially mass-produced and shipped, and will continue to be shipped in the first quarter of 2022. With regard to the penetration rate of DDR5-related products, it is divided into two dimensions: server side, before the server CPU supporting DDR5 is put into use, it is expected that the penetration rate of DDR5 industry will be slowly improved, and the larger penetration rate will climb after the scale of server CPU supporting DDR5 is put into use; On the PC side/laptop side, the desktop platform supporting the first generation of DDR5 was released in the fourth quarter of 2021. At the same time, according to the planning of mainstream CPU manufacturers in the market, the desktop platform supporting the next generation of DDR5 may be launched before the end of this year. These factors will accelerate the upgrade of the desktop from DDR4 to DDR5.

　　Q: How many children does DDR5 memory interface chip have? Compared with DDR 4, is the iteration speed between each offspring of DDR 5 memory interface chip accelerating, and what impact does it have on the company?

　　A: According to the information published by JEDEC, the DDR5 memory interface chip has planned three generations, with support rates of 4,800 mt/s, 5,600 mt/s and 6,400 mt/s respectively, and it is expected that there may be one or two generations in the future. The industry expects that in the early DDR5 generation, the iteration speed between the descendants of memory interface chips may be faster than that of DDR4 generation. On May 9, 2022, the company announced that it was the first in the industry to trial-produce the second generation RCD chip of DDR5. It is expected that this year, in addition to the gradual increase in the first generation of DDR5 products, the second generation of DDR5 memory interface chips will also have a certain amount of sample demand.

　　The acceleration of the iteration speed of DDR5 offspring is of positive significance to the company: first, according to the price law of DDR4 offspring iteration, the initial sales price of the new offspring products is higher than that of the previous offspring due to the upgrading of technology and performance, which can boost the average price of products; Second, as a leader in the segmentation field, the company took the lead in formulating the product standards of the first and second generation memory interface chips of DDR5 in the industry organization JEDEC, which reflected the company’s position in the industry and helped to maintain the company’s leading position in research and development.

　　Q: What is the price law of each offspring of memory interface chip?

　　A: Combined with the price law of DDR4 memory interface chip, the sales price of a certain offspring product gradually decreases after the quantity is added. However, due to the upgrade of technology and performance, the initial sales price of the new generation products is higher than that of the previous generation. Therefore, in the case of continuous iteration, the average sales price of products will remain stable and upward.

　　Q: What is the competition pattern between DDR5 memory interface chip and memory module supporting chip?

　　A: At present, the competition pattern of DDR5 memory interface chips is similar to DDR4 memory interface chips. Only three suppliers in the world can provide the first generation of mass production products, namely, the company, Renesas Electronics and Rambus, and the company’s market share in memory interface chips remains stable. On the supporting chips, the two main suppliers of SPD and TS are Lanqi and Renesas Electronics. PMIC has more competitors, and the competition will be more complicated in the initial stage.

　　Q: What is the reason for the decline in the revenue of interconnected chips in the first quarter of 2022?

　　A: The company’s revenue of interconnected chips decreased slightly in the first quarter of 2022, mainly due to: 1. Quarterly fluctuations. In normal years, the first quarter is off-season compared with the fourth quarter; 2. Due to the special period disturbance, the logistics efficiency of some products was affected by the static management in Shanghai and its surrounding areas in late March, and the shipment was postponed to April. After active coordination, the current logistics efficiency has basically returned to normal.

　　Q: Why did the gross profit margin of interconnected chips decrease in the first quarter of 2022?

　　A: In the first quarter of 2022, the gross profit margin of interconnected chips decreased slightly from the previous quarter, mainly because: DDR5 memory module supporting chips were jointly developed by the company and its partners, and the gross profit margin was lower than that of memory interface chips. With the increase of its revenue share, the average gross profit margin of interconnected chip product lines declined.

　　Q: Does the company have room to improve the future market space of CPU business? What are the direct customers and downstream applications of this business?

　　A: In view of Tianjin CPU, because the market space is very large, the company’s primary goal in the initial stage of products is to pursue quantity, enter the market as soon as possible, strive for more market share and gain more customers’ recognition. Because of the large value of this product, once it is on the market, the absolute amount of gross profit will be considerable. At the same time, after accumulating a certain number of customers and reaching a certain income scale, the company will develop new functions to enhance the added value of products in combination with the needs of customers, and actively optimize costs, thus ultimately improving the gross profit margin of this product line.

　　China’s server market maintained a high-speed growth trend. According to IDC’s research report, in 2021, the shipment and sales of China’s server market were 3.911 million units and 25.09 billion US dollars, respectively, up by 8.4% and 12.7% year-on-year. The introduction of strategies such as "Digital China" and "Counting East and Computing West" is expected to bring great impetus to the development of China server market in the next few years. At the same time, with the continuous strengthening of the competitive strength of domestic brands, domestic brands’ server-related products will enjoy more growth dividends in China server market.

　　In 2021, the sales volume of related products of Tianjin Capture Server Platform exceeded 150,000 pieces. If a server is equipped with two CPUs on average, the market share of related products of the company will be about 2% in 2021, which has great market expansion potential.

　　The direct customers of the company’s CPU are mainly OEM or ODM manufacturers of servers, and the larger downstream applications are finance, transportation, government affairs, energy, data centers and other fields.

　　Q: The company’s AI chips are strategic products in the future. Please introduce the technical architecture, application scenarios and market prospects of AI in detail.

　　A: 1. Technical architecture.

　　The AI chip solution under research by the company consists of AI chips and other related hardware and corresponding adaptation software, and adopts a near memory computing architecture, which is mainly used to solve the CPU bandwidth, performance bottleneck and GPU memory capacity bottleneck problems in reasoning application scenarios of AI computing under big data throughput, and to provide customers with low latency and high efficiency AI computing solutions.

　　AI chip is the core hardware of the above solution, which is mainly composed of AI computing subsystem, CXL controller, DDR memory controller and other modules. The chip is designed specifically for the application of AI in big data scenarios, and integrates AI high-performance computing, heterogeneous computing, CXL high-speed interface technology, DDR memory control technology and other related technologies. It has efficient hardware acceleration functions such as searching and sorting large-capacity data, and has functions such as data compression and data encryption and decryption.

　　At the same time, the company’s AI chip solution will support a perfect AI software ecosystem, and can deeply optimize all kinds of AI algorithms and models in a targeted way, and can support all kinds of mainstream neural network models in the industry, such as visual algorithms, natural language processing and recommendation systems, which is conducive to the subsequent software and hardware ecological construction and marketing work.

　　2. Typical application scenarios of AI chips in the future The typical application scenarios of AI chips under research by the company in the future are as follows:

　　(1) Recommendation system under big data throughput in the Internet field. At present, the conventional scheme in the industry is to hand over the two main steps of "Embedding" and "Embedding Search" in the recommendation system to different platforms for processing, and the GPU, FPGA or ASIC chip with high computing power is responsible for the "Embedding" part, and the CPU+ big data system deploys the "Embedding Search" part. This step is divided, resulting in a lot of data exchange, and due to the hardware, The goal of the company’s AI chip is to integrate the above two steps and balance the computing power and memory capacity at the same time, so that the computing resources and memory can be used efficiently and the efficiency bottleneck of the system can be solved.

　　(2) Biomedical/medical big picture stream processing in medical field. At present, the conventional scheme in the industry is to cut large pictures in CPU, and the sub-images obtained by cutting are transmitted to GPU for AI processing through PCIe interface. Through many interactions, a big picture is finally processed, which is also limited by the interface bandwidth and memory between them.

　　The company’s AI chip can greatly increase the memory capacity and reduce or even eliminate the need for image cutting. At the same time, CXL interface can make full use of cache performance and directly access the DDR memory of the near-memory computing module, thus improving the efficiency of the interface.

　　(3) Big data application scenarios in the field of artificial intelligence Internet of Things.

　　Generally speaking, the goal of the company’s AI chip solution is to provide customers with more efficient and cost-effective solutions compared with traditional solutions in similar application scenarios.

　　3. Market prospect: In recent years, the market scale of AI servers has been expanding. IDC predicts that the global market scale of AI servers will reach $27.7 billion in 2025, with a compound annual growth rate of 20.3%. According to the application field, AI chip can be used in two scenarios: training and reasoning. According to the prediction of relevant institutions, the global cloud AI chip market will reach a compound growth rate of 28% in 2020-2025 and a scale of 26.1 billion dollars in 2025: the market scale of cloud training chips will reach 12.9 billion dollars in 2025, and the compound growth rate will be 25% in 2020-2025; In 2025, the cloud inference chip will reach the market scale of 13.2 billion US dollars, and the compound growth rate in 2020-2025 will be 32%, which is higher than the overall growth rate of cloud AI chips. The company’s AI chip is facing the reasoning application scenario under the application of big data throughput. Because it is a new product, the current market scale is difficult to predict, but the value of AI chip is large. This is a very important product in the strategic layout of data processing chips, and I hope this product can become a new revenue growth point for the company in the future.

　　Q: The newly-developed CKD chip is mentioned in the company’s annual report. Please tell us in detail the function, application and future market space of this chip.

　　Answer: CKD chip is a high-speed Clock Driver defined by JEDEC organization, which can buffer and re-drive the clock signals of the next generation UDIMM and SODIMM (mainly used for desktops and laptops) of DDR5, thus improving the signal integrity and reliability of the clock signals and providing a higher-speed memory solution for desktops and laptops.

　　It is expected that in the middle of DDR5, "CKD+SPD+PMIC" will become the standard of UDIMM and SODIMM for desktops and laptops, and the direct customers will be memory module manufacturers. If CKD chips are fully infiltrated, their demand will be positively related to the global demand for UDIMM and SODIMM for desktops and laptops.

　　According to IDC data, the global shipments of desktops and laptops in 2021 were 349 million units, an increase of 14.8% compared with 2020.

　　At present, JEDEC is still formulating the product standard of CKD chip, and the company has participated in the standard formulation and laid out the research and development. The research and development goal of the company’s CKD chip before the end of 2022 is to complete the flow of engineering samples. At the same time, the company’s new "2022 Restricted Stock Incentive Plan (Draft)" sets one of the assessment indicators for 2023: CKD chips complete the research and development of mass production versions and realize shipment.

　　Q: official website recently released the world’s first MXC chip. Please tell us more about its function, application and future market space.

　　A: On May 6, 2022, the company released the world’s first CXL (Compute Express Link) memory expansion controller chip (MXC). The full name of MXC is Memory Expander Controller, and its Chinese name is Memory Expander Controller. The MXC chip is specially designed for memory AIC expansion card, backplane and EDSFF memory module, which can greatly expand the memory capacity and bandwidth to meet the growing demand of data-intensive applications such as high-performance computing and artificial intelligence. MXC chip is a CXL DRAM memory controller, which belongs to the third device type defined by CXL protocol. The chip supports JEDEC DDR4 and DDR5 standards, and also conforms to CXL2.0 specification, supporting the speed of PCIe 5.0. This chip can provide a high-speed interconnection solution with high bandwidth and low latency for CPU and devices based on CXL protocol, thus realizing memory sharing between CPU and CXL devices, greatly improving system performance, and significantly reducing software stack complexity and total cost of ownership (TCO) of data center.

　　MXC chips are mainly used in memory expansion and pooling application scenarios of big data, AI and cloud services. Before CXL interconnection technology, the bottleneck of memory expansion lies in the limitation of the number of CPUs and memory slots and the limitation of the memory capacity corresponding to each CPU. The difficulty of memory pooling lies in the fact that memory can only be accessed by CPU and cannot be shared by other devices.

　　With CXL interconnection technology, the memory expansion card can be composed of MXC chips and DIMM particles to realize the function of memory expansion or pooling, which is beneficial to the flexible allocation of memory space in data centers and effectively reduces the total cost of ownership.

　　The market demand of MXC chip depends on the market demand for memory expansion and memory pooling. Because it can make the memory configuration of data center more flexible and help customers reduce the total cost of ownership, the company is very optimistic about the future prospect of this product.

　　On May 10th, 2022, Samsung Electronics announced the development of its first 512GB CXL DRAM. The CXL internal control extended controller chip (MXC) of this memory module was provided by the company.

　　One of the assessment indicators in 2023 set by the company’s newly launched Restricted Stock Incentive Plan (Draft) in 2022 is: MXC chips complete the research and development of mass production versions and realize shipment. Lanqi will continue to maintain close cooperation with the leading memory manufacturers in the industry to jointly build an ecosystem based on CXL memory expansion controller and constantly update its products.

　　It is generally believed in the industry that CXL technology has great market potential in the future. According to the relevant materials of the investor briefing held by Micron Technology in May this year, it is believed that the market scale of CXL-related products will reach 2 billion US dollars by 2025 and further exceed 20 billion US dollars by 2030, driven by the rapid development of heterogeneous computing.

　　Q: The newly-developed MCR RCD/DB chip is mentioned in the company’s annual report. Please tell us the function, application and future market space of this product in detail.

　　A: MCR RCD/DB chip is used for MCR memory module, which is a higher bandwidth memory module. With the increasing number of AI processing in the cloud, the demand of high throughput, low latency and high density has spawned the demand for higher bandwidth, faster speed and higher capacity memory module. In order to meet this demand, JEDEC organization is currently formulating relevant technical standards for server MCR memory module.

　　The MCR memory module adopts the "1+10" infrastructure of LRDIMM. Compared with ordinary LRDIMM, the MCR memory module can access two arrays on the memory module at the same time, providing double bandwidth. The first generation of products can support up to 8800MT/s, and it is expected that there will be two or three generations of products with higher speed in the DDR5 generation. The memory interface chips needed for the high bandwidth memory module of the server are MCR RCD chip and MCR DB chip. Compared with ordinary RCD chip and DB chip, the design is more complicated and the speed is higher.

　　At present, JEDEC is still formulating the standard of MCR RCD/DB chip, and the company has participated in the standard formulation and has laid out research and development. Compared with ordinary RCD/DB chips, MCR RCD/DB chips have higher technical requirements, more difficult research and development, and longer research and development cycle, so it is difficult for manufacturers who have not developed RCD/DB to break through in a short time. The research and development goal of the company’s MCR RCD/DB chip before the end of 2022 is to complete the flow of engineering samples. At the same time, the company’s new "Restricted Stock Incentive Plan for 2022 (Draft)" sets one of the assessment indicators in 2023 as follows: MCR RCD/DB chip completes the research and development of mass production version and realizes shipment.

　　Q: What is the mass production and shipment of PCIe4.0Retimer chip in 2021, the future market situation and the research and development progress of PCIe5.0Retimer chip?

　　A: The company’s PCIe4.0Retimer chip achieved sales revenue of 12.2 million RMB in 2021, achieving a substantial breakthrough from zero to one.

　　From an industry perspective, in the short term, the PCIe4.0 ecosystem has just started, and the overall scale of the industry is not large; Looking into the future, it is generally believed in the industry that the demand for PCIe4.0-related equipment will gradually increase this year. At the same time, the mainstream server CPU supporting PCIe5.0 will be listed this year, and the demand for PCIe5.0-related equipment will enter the start-up period, which will also drive the demand for PCIe Retimer chips, and will drive the improvement of PCIe5.0 ecosystem and the commercialization process of related products. Therefore, the whole industry is still very optimistic about the PCIe Retimer chip market in the medium term. In January 2022, PCI-SIG officially released the final (1.0) specification of PCI Express6.0. Compared with PCIe5.0, the transmission speed doubled again, from 32GT/s to 64 GT/s.

　　In 2021, the company’s PCIe5.0Retimer chip has completed the slide of engineering samples, device and system-level test and evaluation, and began to send samples to customers and partners for interoperability testing. Before the end of 2022, the company’s PCIe5.0Retimer chip aims to complete the research and development of mass production version.

　　Q: The company’s R&D direction is the application field of SerDes high-speed interface. Is it the direction of the company’s future product line expansion?

　　A: SerDes is short for SERializer /DESerializer.

　　It is a mainstream serial communication technology of time division multiplexing (TDM) and point-to-point (P2P). That is, at the sending end, multiple low-speed parallel signals are converted into high-speed serial signals, which pass through the transmission medium (optical cable or copper wire), and finally at the receiving end, the high-speed serial signals are converted into low-speed parallel signals again. As an important underlying technology, SerDes is usually used as the physical (PHY) layer of some important protocols (such as PCIe, USB, Ethernet, etc.) and is widely used in high-speed interconnection in the fields of servers, automotive electronics, communications, etc.

　　Because SerDes is an important basic technology in the field of high-speed interconnection, which can be applied to PCIe Retimer and many other products, the company attaches great importance to this technology, and will also make some new product layouts based on the extension of technology. The specific new product layout strategy will be gradually developed in combination with the company’s technical advantages or market advantages.

　　Q: What is the strategic layout of the company’s future products?

　　A: The company will focus on scientific and technological innovation in the field of integrated circuit design, constantly meet customers’ demand for high-performance chips around the fields of cloud computing and artificial intelligence, realize the leap-forward development of the enterprise through continuous accumulation, create good returns for shareholders and contribute beneficial value to society.

　　The development goal of the company in the next three years is to enhance the company’s market position and influence in sub-sectors through continuous R&D and innovation, and at the same time open up new business growth points.

　　Among them:

　　1. In the field of interconnected chips, on the one hand, the company will continue to consolidate its market leading position in DDR5 related businesses, and continue to invest in iterative research and development of DDR5 related chips and new generation products of PCIe Retimer chips to further improve product layout; On the other hand, the company will continue to pay attention to other market opportunities in the field of interconnected chips and make strategic layout in a timely manner. In the annual report of 2021, the company has disclosed the research and development plans of three new products, namely CKD chip, MCR RCD/DB chip and MXC chip. They all belong to the field of interconnected chips and involve cutting-edge technologies in the industry. The company will steadily promote the research and development of new products as planned.

　　2. In the field of data center business, continue to upgrade Tianjin? Server CPU and its platform provide high-performance, high-security, high-reliability CPU, mixed secure memory module and other products for data centers, and continuously increase market share.

　　3. In the field of artificial intelligence chips, the company will focus on customer needs, tap potential business opportunities, develop competitive chip solutions, and provide new business growth points for the company’s sustainable development. The artificial intelligence chip currently being developed by the company adopts the near memory computing architecture, which is mainly used to solve the CPU bandwidth, performance bottleneck and GPU memory capacity bottleneck problems in the reasoning application scenario of AI computing under big data throughput, and provide customers with low latency and high efficiency AI computing solutions.

　　4. The company will continue to pay attention to the development of the industry and use its own resources to find suitable industrial chain investment and M&A opportunities.

　　Q: What is the impact of this epidemic in Shanghai on the company’s production and operation?

　　A: Due to the need of epidemic prevention and control, some employees of the company have been working at home recently, and some employees have been arranged to be on duty at the company site. After active coordination, the logistics efficiency of the company’s related products around Shanghai has returned to normal. Up to now, the company’s operation is generally normal.

　　Q: Does the current tight supply chain in the semiconductor industry affect the company?

　　A: From the second half of 2020, the company predicted in advance that the production capacity of the whole industry would be relatively tight by 2021, so it made some plans in advance. Up to now, the production capacity of the company’s main products is basically guaranteed, but it is still possible to be nervous about some products or models.

　　Q: How many R&D personnel are there in the company? What is the company’s R&D personnel expansion plan? What is the distribution of personnel in different product lines, and what are the main aspects of the increase of R&D personnel?

　　A: Since the company went public, the number of employees has increased steadily, from 255 at the end of 2018 to 334 at the end of 2019 and 457 at the end of 2020 to 527 at the end of 2021, among which the proportion of R&D technicians has increased steadily, reaching 71% at the end of 2021, with 373 employees. With the development of the company’s business and continuous R&D investment, the company’s R&D technicians will continue to maintain a reasonable growth. The characteristics, technical reserves and R&D stage of each R&D project will be different, and the company will arrange corresponding R&D personnel and investment according to the needs of different R&D projects. Generally speaking, the increase of the company’s R&D personnel is mainly concentrated on new products, including AI chips and PCIe Retimer chips.

　　Q: Does the company consider investing in mergers and acquisitions to accelerate its development?

　　A: On the one hand, the company will achieve high-quality endogenous growth by strengthening R&D, on the other hand, it will continue to pay attention to the development trends of the industry and use its own resources to find suitable industrial chain investment and M&A opportunities;

　　The main business of Lanqi Technology Co., Ltd. is to provide chip-based solutions for cloud computing and artificial intelligence; The company’s main products are memory interface chip, Tianjin server platform and consumer electronics chip; In 2018, the company was awarded the 20th China Patent Excellence Award by China National Intellectual Property Administration. In 2018, the company’s product "the second generation DDR4 memory buffer controller chip" won the "China Core" annual major innovation breakthrough product award; In November, 2018, the "Dynamic Security Monitoring Technology" adopted by the CPU of Tianjin Capture Server and its platform was awarded the "World Internet Leading Scientific and Technological Achievements" in the 5th world internet conference.

　　Details of participating institutions are as follows: