China brand cars used to be synonymous with cheapness, but in recent years, China brand cars have made great progress in many aspects relying on the innate advantage of localization. I don’t know if you know anything about what is introduced today. Now let’s follow Xiaobian to see what it has done.

Let’s take a look at the appearance of Ruifeng M3. The front face of Ruifeng M3 looks very stylish and elegant. Coupled with headlights, the overall design is very fashionable and sporty. The car is equipped with LED daytime running lights, automatic opening and closing, etc. Coming to the side of the car, the body size of the car is 5145 mm * 1765 mm * 1900 mm. The car adopts fashionable and simple lines, giving people a very deep feeling on the side of the car. With large-sized thick-walled tires, the shape is quite soft. In the rear part, the rear looks stocky, and the taillights are very cool. Overall, it is still relatively hard-core.

Arriving in the Ruifeng M3 car, the interior design of Ruifeng M3 looks more exquisite and the overall design is very comfortable. The steering wheel of the car is very round and lovely, made of imitation leather, and the shape is very fighting. Take a look at the central control. The design of the center console is reasonable, which makes the interior style impressive and tough. Let Xiaobian introduce the dashboard and seats. The dashboard of this car presents a simple and generous design style, which is very eye-catching. The car uses a fabric seat, equipped with functions such as proportional reclining of the seat, and it is basically enough for daily use.

The rear row space of Ruifeng M3 is fairly spacious, and there is a certain margin in the head and legs, which can be said to be more than enough for daily household use. In addition, the car is equipped with anti-lock braking system (ABS), LED daytime running lights, brake assist (EBA/BAS, etc.), braking force distribution (EBD), traction control (ASR/TCS, etc.), main driver airbag and co-pilot airbag.

The car introduced today is remarkable in terms of space, configuration and power, and home travel is also a good helper. If you are interested, you might as well experience it. I believe it can bring you a good experience.

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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.

A few days ago, the new car of FAW-Volkswagen Jetta brand-2023 model.Jetta VS7Officially listed. The new car continues to offer 6 models with a price of 105,900-137,900 yuan. As an annual modified model, the appearance and interior of the new car have not changed significantly, mainly for the price, configuration, engine model and other aspects of adjustment.

In terms of power system, the new car is equipped with a 1.4T engine with the model of DLE (supporting the national VI b emission standard), matched with a 5-speed manual gearbox or Aisin 6AT gearbox, with a maximum power of 110KW. (The engine model of the old model is DJS)

The picture is as follows:2023 Jetta VS7 280TSI Automatic Glory Edition

The new car is available in 6 configurations at a price.10.59-137,900 yuan. (The number and name of models are consistent with those of the old models)

Compared with the old model (2022), the price of the new car has increased by 1000-2000 yuan. At the same time, the manual/automatic progressive version model cancels the wireless charging of the mobile phone, the heating of the exterior rearview mirror/electric folding/locking automatic folding; The Yuexiang version has added 360 panoramic images; The Enjoy Edition/Glory Edition also cancelled the CarPlay/CarLife mobile phone interconnection mapping.

In addition, the new car alsoAdded the video screen projection function of car mobile phone and the application platform of small program; The built-in microphone is upgraded to an external dual microphone, etc.

In design, the large-size blackened air intake grille is connected with the headlight group, and chrome-plated decorative strips are added to the outer edge of the grille. In addition, the left and right sides of the front enclosure are also equipped with LED daytime running lights, which, together with the trapezoidal blackened air intake and silver decorative pieces, make the front face of the new car show a good sense of fashion and dynamic atmosphere.

The body dimensions of the new car are:4624*1841*1624mm, with a wheelbase of2730mm, positioning medium-sized SUV.

In addition, the new car also comes standard with 18-inch wheels, and tyre size is:225/50 R18。

At the rear of the car, the rear of the new car continues to use a similar triangular taillight group, and a raised line is also designed on the rear tailgate. In addition, the bottom of the rear enclosure is also dotted with Y-shaped through reflective decorative strips, blackened decorative pieces and silver diffusers, and the exhaust uses a hidden layout.

In the interior design part, the center console area of the new car is equipped with a three-position flat-bottomed steering wheel, a 3.5-inch monochrome screen+mechanical pointer instrument, and a 10-inch central control screen (the manual and automatic entry-level models use an 8-inch central control screen). In addition, the new car also provides manual or automatic air conditioning.

In addition, the new car is also equipped withJ-Link intelligent control interconnection system,Support GPS online navigation, 4G network, voice recognition to control WIFI hotspots and other functions.

In the seat part, the car adopts a five-seat layout, and the entry-level model uses fabric seats, while the middle and high-end models use leather-like seats.

In terms of seat functionality, the entry-level models only support manual adjustment, while the mid-high models support electric adjustment of the main driver’s seat, and the glory models also support front seat heating.

Power unit, 2023 Jetta VS7The 1.4T engine with DLE model (supporting the national VI b emission standard) was replaced, matching the 5-speed manual gearbox or Aisin 6AT gearbox., the maximum power is 110KW(150Ps), the maximum torque is 250N.m, the acceleration at zero speed is 9.8 seconds (manual transmission) /10.2 seconds (automatic transmission), and the comprehensive fuel consumption under WLTC condition is 6.6L (manual transmission) /7.1L (automatic transmission).

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.

"Go straight ahead, crazy world. Facing the pain, I gave all my dreams to time … through the night and across the border. "

On the afternoon of September 25th, in Shenzhen, the autumn conference of Huawei started with artists from China Symphony Orchestra and Youth Philharmonic Orchestra of China Conservatory of Music singing "My Dream". Today, Huawei, as the song goes, "crossed the night and crossed the border".

Yu Chengdong, managing director of Huawei, CEO of BG, and chairman of BU, a smart car solution, later took the stage. He said that he was grateful for everyone’s interest in the "Pioneer Plan" Mate 60 series, and was currently organizing overtime production to meet everyone’s needs. However, he also stressed that the "Pioneer Plan" products will not be released at this conference.

Earlier, Huawei launched a new generation of HarmonyOS OS 4. Yu Chengdong revealed at the press conference that up to now, Huawei HarmonyOS 4 has developed 60 million users, with an average of 1.2 million users per day.

Huawei’s autumn conference focused on the release of a new generation of near-field wireless connection technology Nearlink (Star Flash); Launched the luxury brand "Extraordinary Master", and launched the first gold high-end smart watch HUAWEI WATCH ULTIMATE DESIGN and Huawei Mate 60 RS under this brand.

In addition, Huawei also revealed that the M9 will be launched in December this year, and the S7 will be launched in November.

Ultra-high-end brand release, watch pricing exceeds 20 thousand yuan

Although Huawei’s hottest product, Huawei Mate 60 series, was absent from the conference, the conference was still "full of gimmicks". The appearance of 10,000-yuan watch and Andy Lau made Huawei like to mention several hot searches again.

Huawei launched a brand-new ultra-high-end brand "ULTIMATE DESIGN Extraordinary Master", and also released the brand’s first smart watch-Huawei WATCH ULTIMATE DESIGN Extraordinary Master.

Huawei also invited Andy Lau to be the spokesperson of "Extraordinary Brand". At present, in addition to the first gold high-end smart watch, Mate 60 series Porsche version Mate 60 RS is also classified as "extraordinary master" series.

Huawei emphasizes the combination of materials and technology for extraordinary master watches, which is roughly the same as Apple’s Apple Watch Ultra series that emphasizes outdoor extreme sports.

Huawei also said that this watch can accompany explorers across mountains and seas. It not only supports 10 ATM waterproof rating and 100-meter diving, but also has various diving modes such as free diving, leisure scuba diving and technical diving. In the outdoor adventure mode, you can rely on the dual-frequency GPS positioning ability to support the two-way Beidou satellite message function. Of course, Huawei finally priced the first high-point watch at 21,999 yuan, which is also in line with its "ultra-high-end" positioning.

Huawei Mate 60 RS has no more details. However, information about Mate 60 RS has been posted on Huawei official website, and the configuration is exactly the same as that of Mate 60 Pro+, but the materials are different. For example, Huawei Mate 60 RS uses basalt toughened Kunlun glass, while Mate 60 Pro uses the second generation Kunlun glass. Available in 16GB+512GB and 16GB+1TB versions, the prices are 11999 yuan and 12999 yuan respectively, and the colors are black and red, and the pre-order has been started from now on.

The price is basically at the same level as the previous Huawei Porsche version, but the release of Huawei’s ultra-high-end brand is obviously not to show muscles. At present, Mate 60 series is hard to find, and institutions are optimistic about the sales of Mate series, which also puts great pressure on Apple’s new machine. The launch of ultra-high-end has also leveled the current price gap of Huawei Apple.

Star flash technology and large screen Pad

At the press conference, Huawei launched a new generation of short-range wireless connection technology -NearLink (Star Flash), which has lower power consumption, stronger speed and stability, and wider coverage, and can be applied to smart terminals, smart homes, smart cars and other major scenes.

Huawei released the world’s first flexible OLED flat panel, and HUAWEI M-Pencil (the third generation) appeared together with Huawei’s flagship flat panel. Huawei’s third-generation stylus and Huawei MatePad Pro 13.2-inch are the world’s first terminal products with star flash technology. The star flash pen supports over 10,000-level pressure sensitivity, and the connection is faster and more stable, with the minimum delay of 0ms, which can reach the professional graphics tablet-level painting experience.

In addition, Huawei’s headset FreeBuds Pro 3 also applies the core technology of star flash connection and Bluetooth technology, which improves the physical bandwidth by 4 times and the anti-interference ability by 2 times. Based on the new L2HC 3.0 protocol, when Huawei FreeBuds Pro 3 cooperates with Huawei Mate60 series and other mobile phones, it can realize 1.5Mbps audio lossless transmission.

At the end of the year, two new cars were launched: the first coupe intelligent S7 and the large SUV M9.

Yu Chengdong once again emphasized that Huawei’s intelligent cockpit and advanced intelligent driving technology are "far ahead" when introducing automobiles at the press conference.

He is even more excited to introduce the latest release of the M7 sales. "We have an average of 1,500 sets every day and 2,000-3,000 sets on weekends. In less than two weeks, the number of sets has exceeded 20,000." This also made Huawei’s smart car selection business usher in a long-lost turnaround.

The first car of Huawei’s smart car selection business, Zhijie S7, was also officially unveiled, positioning the smart coupe with high energy and large space. It will be the first to take the HarmonyOS 4 smart cockpit and carry Huawei’s advanced intelligent driving. The new car will be officially released in November 2023.

In addition, the SUV M9 will be released in December this year. Yu Chengdong once again stressed that the M9 will be "the best SUV within 10 million". It is reported that M9 not only has brand-new family design, full-size changeable space comparable to MPV level, but also will be equipped with Huawei smart car full-stack technology solutions and other technologies.

It is worth noting that this is also the first time that Yu Chengdong appeared as the chairman of Car BU. After shouting the slogan of the best SUV within 10 million yuan, he still needs the market to test the achievements of the smart car selection business.

HarmonyOS’s native applications are fully launched.

Not only is the product level updated and upgraded, but Huawei’s HarmonyOS ecology is also fully laid out.

Yu Chengdong revealed that after the release of HarmonyOS 4, the number of users upgrading HarmonyOS 4 has exceeded 60 million in just over one month, making it the fastest upgrade version of HarmonyOS in history.

At this conference, Huawei launched a brand-new HarmonyOS NEXT program in HarmonyOS, that is, HarmonyOS native application was fully launched, which is a new chapter in the mobile application ecology.

It is reported that Huawei has trained millions of talents in HarmonyOS, and will invest 10 billion yuan to support the development of its partners, covering 18 applications in an all-round way, bringing consumers a smoother, smarter and safer native application experience in HarmonyOS.

In addition, Huawei’s flagship store will soon be unveiled in more cities. It is reported that four brand-new Huawei flagship stores in Tianjin, Beijing, Shanghai and Nanjing are already in preparation and will soon open, which will bring a brand-new upgraded full-scene experience and services with the characteristics of Huawei flagship stores.

　　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.

CCTV News:Recently, the number of patients infected with mycoplasma pneumoniae has increased in many places, especially in children, and the treatment time is long. Many patients and their families have questions. Why is it not good after treatment for a while? I’ve already hit pneumonia vaccine, why can I get mycoplasma pneumoniae pneumonia? How to prevent uninfected people?

Hao Hongwen, chief physician of Pediatrics, Oriental Hospital, Beijing University of Chinese Medicine, gave the following answers to nine common questions about mycoplasma pneumoniae pneumonia.

Question 1: Why did you get mycoplasma pneumonia after playing in pneumonia vaccine?

Hao Hongwen:This is actually a question that we often answer parents in clinic. Usually, children and the elderly are vaccinated with pneumonia vaccine, which is mainly aimed at Streptococcus pneumoniae. However, the pathogen of this popular pneumonia is Mycoplasma pneumoniae, and there is no vaccine against Mycoplasma pneumoniae at present. Therefore, even if vaccinated with pneumonia vaccine, pneumonia caused by Mycoplasma pneumoniae cannot be prevented, because the pathogen is different. Of course, pneumonia vaccine has positive significance in preventing pneumonia and other diseases caused by Streptococcus pneumoniae.

Question 2: I went to check my blood when I had a fever and cough. The antibody against Mycoplasma pneumoniae was also negative, but not positive. Why did it eventually become Mycoplasma pneumoniae pneumonia?

Hao Hongwen:This is because the most positive time of mycoplasma pneumoniae antibody is 5-7 days after infection, so the initial examination may be negative, and some of them will be false negative. Therefore, negative antibody to mycoplasma pneumoniae can not rule out mycoplasma pneumoniae infection.

Question 3: What are the characteristics of mycoplasma pneumonia? How to identify?

Hao Hongwen:Pneumonia caused by mycoplasma infection is characterized by "double weight and light weight".

First of all, the symptoms are serious. Children mainly have a severe fever and cough, and most of them will continue to have a high fever, or the low fever will continue all the time, and the cough will be very heavy. In the first day or two of the onset, the cough may not be obvious, and then the cough will gradually become obvious, mainly manifested as paroxysmal and irritating cough, that is, coughing up in a big array, and even coughing badly will vomit and shed tears. This kind of cough, often with little phlegm at the beginning, is characterized by dry cough, and phlegm will appear in the middle and late stage of the course of the disease, which is the "first weight".

Although this kind of pneumonia has a severe fever and cough, the rales of the lungs are often not heard in the early and middle stages of the disease. Therefore, there is no dry and wet rales after the doctor auscultates the lungs. In layman’s terms, it is no problem to auscultate the lungs. This is a "light".

The characteristic of this disease is twofold and lightness, and the "second weight" is that the chest radiograph is heavier. If a child has a fever for more than three days, high fever for more than three days or low fever repeatedly, and his cough gradually worsens for more than three or four days, he must also consider this kind of pneumonia. Although there is no obvious abnormality in auscultation, doctors will generally advise the child to take a chest film to see if there is any pneumonia. The chest film may show signs of lung inflammation, some of which may be patchy, some may even be large white consolidation, and even pleural effusion. This is the "second weight".

Therefore, we simply sum up the characteristics of mycoplasma pneumoniae pneumonia as "double weight and light weight". If parents and friends find that their children have such characteristics of fever and cough, they must also pay attention to the possibility of mycoplasma pneumoniae pneumonia, and if necessary, conduct chest X-ray or even chest CT examination under the guidance of a doctor.

Question 4: How is Mycoplasma pneumoniae infected? How to prevent it?

Hao Hongwen:The infection of mycoplasma pneumoniae is the same as our common respiratory infections, and it is mainly transmitted through the mouth and nose, so it is easy to be infected in crowded places or in close contact with patients if no protective measures are taken. Therefore, in view of this route of infection, we still have to emphasize that children should go to crowded, closed and unventilated places as little as possible. If the disease is at a high incidence, it is recommended that children wear masks as much as possible and wash their hands frequently when going to these places. Of course, it is necessary to have enough sleep, a reasonable diet, and timely increase or decrease clothes according to the weather conditions, so as to enhance the child’s resistance and avoid the infection of mycoplasma pneumoniae. If someone in the family has been infected with mycoplasma, try to wear a mask or live in a separate room, and open the window frequently for air at home. Especially for families with two children, it is particularly easy to infect each other.

Question 5: Pneumonia only affects the lungs. Will there be other complications?

Hao Hongwen:Mycoplasma pneumoniae pneumonia, its impact on the human body is relatively extensive. The mild pneumonia will gradually recover after a few days of medication, and it will have a greater impact on the severe pneumonia or the pneumonia with long fever time and heavy lung imaging. The common complications are divided into two parts: intrapulmonary and extrapulmonary. The intrapulmonary complications include plastic bronchitis, embolism (which can be independent or combined with other parts), pleural effusion, and some children may be complicated with acute asthma attack and mixed lung infection. Extrapulmonary, including nervous system, circulatory system, blood system, skin, liver damage, kidney damage, etc., among which myocarditis, myocardial damage and liver damage are more common, and in addition, in the nervous system, encephalitis may be common. Skin complications will have some rashes, and the blood system may have some changes in blood cells such as platelets. Each system will also have serious complications, even life-threatening, so we can’t take it lightly.

Question 6: Why did the symptoms get worse after taking cephalosporin from the beginning?

Hao Hongwen:This is because penicillin and cephalosporins play a role by inhibiting the synthesis of cell walls, but when mycoplasma pneumoniae is infected, mycoplasma pneumoniae has no cell walls, so cephalosporins can’t play a role. The use of macrolides such as azithromycin or erythromycin mainly inhibits the synthesis of protein, thus inhibiting the activity of mycoplasma and playing an anti-infection role. Therefore, if mycoplasma pneumoniae is infected, cephalosporins are ineffective. However, some patients may be complicated with bacterial infection and also use cephalosporins.

Question 7: Mycoplasma pneumoniae pneumonia, how should it be treated?

Hao Hongwen:If it is mycoplasma pneumoniae pneumonia, it is generally divided into mild and severe. Mild pneumonia is treated with macrolides such as azithromycin for three days, which may be extended to five days according to the condition, or cyclic erythromycin and roxithromycin can be used. At the same time, you can use some drugs to relieve cough and phlegm. Traditional Chinese medicine can generally use Shegan Mahuang Decoction and Maxing Shigan Decoction after syndrome differentiation.

Severe mycoplasma pneumonia is mainly treated with azithromycin for 7 days, and then stopped for 3-4 days. According to the situation, a second course of treatment or a third course of treatment may be needed, with cough relieving, phlegm resolving, aerosol inhalation, etc., and anticoagulation treatment if necessary. Chinese medicine can be treated with Maxing Shigan Decoction combined with Sanzi Yangqin Decoction and Huanglian Jiedu Decoction. In this process, if the symptoms are not relieved, fever or severe cough persist, it is necessary to consider whether it belongs to drug resistance, mixed infection or other complications according to the situation, and consider switching to other antibiotics, adding hormones, combining antibiotics, bronchoscopic lavage, immunoglobulin and other treatments. This needs the doctor to decide according to the situation.

Quinolones are the first choice for adult treatment, as well as new tetracyclines.

In short, each patient’s situation is different. Under the guidance of treatment principles, specific problems are analyzed and solved. During the period, children should drink water properly, atomize to dilute sputum, and eat digestible food.

Question 8: Why did you use azithromycin and erythromycin, but your condition still hasn’t improved?

Hao Hongwen:This is because the improvement of the disease is related to the following factors: the first is to feel the virulence of this pathogen, the second is whether our body’s resistance is moderate (too weak or too strong), and the third is whether the drug is resistant. If you feel that the pathogen is more virulent, the child’s immunity is weak or too strong, then the drug is not enough to weaken the pathogen or inhibit the excessive immune response, so even the drug can not quickly inhibit the development of the disease. Mycoplasma pneumoniae pneumonia can be divided into mild pneumonia and severe pneumonia, as well as refractory mycoplasma pneumonia. It refers to that after 7 days of treatment with regular macrocyclic lipid antibiotics such as azithromycin, the clinical symptoms and signs or imaging examination have not improved, or other complications have occurred. This year’s guide in 2023 also mentioned "macrolide nonreactive mycoplasma pneumonia", which means that the condition has not improved after 72 hours of treatment with regular macrolide drugs. If drug resistance is considered, new tetracycline drugs such as doxycycline and minocycline can be selected. These drugs are suitable for children over 8 years old, and those under 8 years old are beyond the instructions, which need full evaluation and informed consent of parents. So it is also mycoplasma infection, but the development and changes of the disease are different because of different factors. However, this kind of refractory pneumonia or unresponsive pneumonia is often easy to develop into severe pneumonia. In addition to antibiotic treatment, it is often necessary to cooperate with a variety of therapeutic drugs and means.

Question 9: In the late stage of mycoplasma pneumoniae infection, the child has a bad appetite and a persistent cough. What should I do?

Hao Hongwen:Some children with mycoplasma pneumoniae pneumonia still have some cough symptoms after 2-3 courses of anti-infection treatment, or at the later stage of disease treatment, the children show poor appetite and cough with persistent phlegm. At this time, considering that there may be airway hyperresponsiveness or other sequelae from western medicine, we can continue to adopt corresponding treatment and atomization. Traditional Chinese medicine treatment also has advantages. Traditional Chinese medicine believes that the residual evil is not exhausted and the healthy qi has been injured in the later stage of the disease. Traditional Chinese medicine is used to clear the residual evil and help the healthy qi. At the same time, some other treatments of traditional Chinese medicine, such as cupping and massage, can be used to assist the recovery of pneumonia. (Reporter Yan Yan)

　 　 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:

　　　　Since the beginning of this year, listed real estate companies have raised more than 100 billion yuan in total through additional issuance, and these companies have been staking huge sums of money in major cities.

　　　　Financing-the issuance of real estate stocks is booming

　　　　According to the data of the National Bureau of Statistics, from January to June in the first half of the year, the housing sales prices in 70 large and medium-sized cities in China increased by 5.6%, 5.9%, 5.9%, 5.4%, 6.4% and 7.1% respectively, showing an overall upward trend. The rising house prices make investors look forward to the future performance growth of real estate listed companies. Poly Real Estate opened at 44.62 yuan on July 2 and reached a stage high of 87.99 yuan on August 27. It only took more than a month, and its share price rose by nearly 100%.

　　　　The good performance of real estate stocks has brought opportunities for listed companies to raise funds through the capital market. In July this year, gemdale issued 173 million A shares, successfully raising 4.5 billion yuan. In August, gemdale announced that it planned to issue corporate bonds of no more than RMB 1.2 billion. In addition, the company also plans to publicly issue no more than 360 million A shares.

　　　　In August, Vanke A-share issuance raised 10 billion yuan, which was the highest single fundraising record in the history of China’s stock market issuance. Later, it was announced again that it planned to issue corporate bonds with a total amount not exceeding 5.9 billion yuan.

　　　　Other companies don’t want to be left behind at all. In August, Poly Real Estate publicly raised 7 billion yuan, and suning universal plans to issue 380 million-420 million shares, raising as much as 11 billion yuan; Qixia Construction, Shennanguang A, and SIIC Development also issued additional issuance plans, raising a total of 7.19 billion yuan …

　　　　According to incomplete statistics, since the beginning of this year, listed real estate companies have raised more than 100 billion yuan by issuing additional shares and placing shares.

　　　　Enclosure-non-stop of listed companies

　　　　What do most listed companies do with huge financing? The Research Report on Competitiveness of Real Estate Enterprises in China released by the State Council Development Research Center on September 16th shows that with the continuous adjustment of national land and real estate financial control policies, real estate enterprises are constantly innovating financing channels, the capital scale is rapidly expanding, and the land purchase area is also increasing.

　　　　Obviously, almost all the financing is put on the land reserve, which can directly push up the company’s future development evaluation.

　　　　Listed companies hold huge sums of money to bid for land plots. As a direct result, land prices across the country keep hitting new highs, and records in Shanghai, Hangzhou, Dongguan, Tianjin, Xiamen and other places are constantly being refreshed, and one by one "land kings" make their debut: Shanghai and suning universal Group won the unit price "land kings" with a floor price of 67,000 yuan/square meter and a sky-high price of 4.4 billion yuan; Wuhan and Shanghai Yuyuan Mall won a piece of land at a sky-high price of 3.502 billion yuan …

　　　　In this regard, many people in the industry are not worried. Because the land king effect not only leads to the rise of land price, but also has obvious pulling effect on house price. There are endless examples of rising prices of surrounding buildings for sale due to rising land prices all over the country. At the Boao Real Estate Forum in August 2007, Chen Qizong, chairman of Hang Lung Group, one of the four largest real estate developers in Hong Kong, warned: "In fact, there has been a phenomenon that’ flour is more expensive than bread’ in mainland land transactions, which means that the price of land is higher than the surrounding housing prices, which is very dangerous."

　　　　Land hoarding-giants occupy a lot of resources

　　　　In recent years, developers have repeatedly commented that the rise in housing prices is mainly attributed to the lack of land supply. The land management department has repeatedly clarified that the land supply is not scarce. What is the truth?

　　　　Although it is difficult for us to know how much real estate enterprises have, they clearly give us the answer in the interim report of real estate enterprises.

　　　　According to the interim report of Country Garden, a real estate company listed in Hong Kong, as of August 15th, the company’s land reserve was 54 million square meters, an increase of 180% compared with 19 million square meters before listing on April 20th, making it one of the largest real estate companies in China. According to the latest announcement of Vanke, the total land reserve of Vanke is 21.57 million square meters, of which the construction area belonging to Vanke’s rights and interests is 18.18 million square meters. And with the completion of Vanke’s 10 billion yuan public offering, it is believed that the investment in land reserve will continue to expand.

　　　　According to the mid-year report, Poly Real Estate had a land reserve of 10.07 million square meters as of July 31. In 2007, China Merchants Property added a land reserve construction area of 1.68 million square meters, and gemdale won five projects in the first half of the year, with a leasable construction area of 2.35 million square meters …

　　　　Ye Jianping, director of the Land Management Department of Renmin University of China and director of the Real Estate Information Center, believes that it is understandable for developers to hoard land on a large scale as an enterprise behavior under the conditions of market economy. From a social point of view, this kind of behavior has certain negative effects, because the scarcity of land brings monopoly to enterprises and forms monopoly prices. Although the statistics of the land department show that the supply of land is very large, the core of the problem lies in how to improve the effective supply of the final product (housing), otherwise, it is easy to form a monopoly of land from government to enterprise. Therefore, he suggested that the competent authorities should adjust by dividing plots and increasing effective supply. At the same time, additional clauses can be added to the land transfer contract to clarify the development cycle, so that the government’s land supply can be quickly transformed into effective supply through management means.

　　　　Professor Liu Hongyu, director of Tsinghua University Real Estate Research Institute, reminded that the greater the land reserve, the greater the risk of future market changes. I hope enterprises can think calmly.

　　　　Worry-linkage of risks in property market and stock market

　　　　According to insiders, most of the land hoarded by developers was acquired before the "August 31 deadline" in 2004. According to the national regulations, after August 31st of that year, the operating land shall not be sold by agreement, and shall be subject to public bidding. Since then, developers have shouted "lack of land" every year. Moreover, with the gradual tightening of bank credit in recent years, the developer’s capital chain is generally tight.

　　　　But in the big bull market, real estate enterprises have innovated financing channels. Compared with the strict examination of bank loans, in terms of high cost, financing from the stock market has low cost, no need to repay capital and interest, and the risks are scattered and passed on to real estate investors, and big real estate developers are of course very happy to do it. As a result, outside the two gates of "credit" and "land", which are strictly controlled by real estate macro-control, real estate giants can finance the enclosure more easily.

　　　　Rising house prices-appreciation of real estate stocks-huge financing enclosure-sufficient land reserves to raise stock prices and high land prices to raise house prices … A circular picture of the stock market, land and property market dancing hand in hand with high prices seems to have emerged in front of our eyes!

　　　　This is a picture worthy of our vigilance. Ye Jianping believes that there are risks involved. At present, enterprises take land at a high price because they can pass on the cost to the market, and some buyers can absorb the rising cost. If the situation changes in the future, the expected cost of land will be out of touch with the actual cost, which may lead to the break of the capital chain of real estate enterprises. This is the risk of real estate enterprises themselves, but it is not terrible. What really needs to be vigilant is the second risk, that is, the risk of the joint financial market, which may lead to the systematic risk of the real estate market gradually shifting to the stock market.

　　　　Liu Hongyu also believes that this cycle has bred huge real estate price risks and stock price risks. Therefore, at present, when house prices and stock prices are at a high level, we must warn of risks and invest rationally. (Shen Yin Zhang Xiangyong)

Editor: Zhang Pengfei