I. Oil reserves

　　The United States is one of the countries with the largest proven oil reserves in the world. As of January 1, 2004, its proven oil reserves were 22.7 billion barrels, ranking 11th in the world. More than 80% of the country’s reserves are concentrated in four States in the United States: Texas (24%), Alaska (22%), Louisiana (20%) and California (19%). Other oil-producing states include New Mexico, Oklahoma, Wyoming, Kansas, Mississippi and North Dakota. Due to the over-exploitation in the late 1980s and the first half of 1990s, the oil reserves in the United States decreased rapidly. At present, the oil reserves in the United States decreased by about 20% compared with 1990.

　　Second, production

　　The United States is the third largest oil producer in the world after Saudi Arabia and the Russian Federation. According to the statistics of American oil and gas magazine, the American oil output in 2003 was 7.9 million barrels per day, accounting for 9.2% of the world’s total oil output. The output of crude oil is 5.7 million barrels per day, and the rest is natural gas liquid (NGL). At present, the output is the lowest in the past 50 years, which is about 25% lower than the 10.6 million barrels per day in 1985. There are about 500,000 oil producing wells in the United States, but most of them belong to marginal wells. According to statistics in 2003, the main oil producing areas are concentrated in the Gulf of Mexico, Texas land oil fields, the northern slope of Alaska, California, Louisiana land oil fields, Oklahoma and Wyoming. In 2003, the United States drilled 30,151 new oil and gas wells, including 5,694 oil wells, 20,011 natural gas wells and 4,446 dry wells. Compared with 25,536 wells drilled in 2002, it increased by 18%. With the progress and development of geophysical prospecting technology and drilling equipment, the output of deepwater oil fields in the Gulf of Mexico has increased rapidly. At present, the output of deepwater oil fields accounts for two-thirds of the oil production in the Gulf of Mexico in the United States. Because most of the energy resources in the United States are concentrated in the territory of the federal government, and the exploration and exploitation of oil and gas are subject to many restrictions by the federal government, it is difficult to increase oil production significantly. Due to the low return on energy investment, the investment in the oil industry has been greatly reduced since 1980, which has led to the aging of the existing oil supply infrastructure in the United States, such as pipeline transportation and refinery processing, and the serious shortage of production capacity.At the same time, domestic production costs are higher than the international level, and environmental protection requirements are increasingly demanding. As a result, many refineries have been forced to close down. Relevant data show that no new refinery was built in the United States from the late 1980s to the 1990s. The petroleum refining and processing industries in the United States are mainly concentrated in Texas, Louisiana, California, Illinois, Pennsylvania, New Jersey, Washington, Ohio and Indiana. According to the statistics of British Petroleum Company (BP), the refining capacity of the United States in 2002 was 16.76 million barrels per day, accounting for about 20% of the world’s total refining capacity of 8,390 barrels per day. At present, the dominant oil companies in the American market are mainly ExxonMobil, Philips Continental, Chevron Texaco, Shell Oil, Frontier Oil, Marathon Oil and other companies. The U.S. Department of Energy predicted in its energy policy article that the oil production in the United States will drop from the current level of 580 barrels per day to 5.1 million barrels per day in 2020, and the Gulf of Mexico will play an important role in the future, and its share in domestic oil production will increase from the current 27% to 40% in 2010.

　　Third, consumption

　　The United States is the largest oil consumer in the world. In 2003, the consumption was 20.071 million barrels per day (equivalent to 914.3 million tons), an increase of 1.9% over the previous year, accounting for 25.1% of the total oil consumption in the world. In the current composition of energy consumption in the United States, oil accounts for 42%, coal accounts for 24%, natural gas accounts for 20%, nuclear energy accounts for 8-,and hydropower, solar energy and wind energy account for 4%. According to the statistics of British Petroleum Company (BP), in the composition of oil consumption in the United States in 2003, transportation oil accounted for about 67.5% of the total oil consumption, industrial oil accounted for about 24.2%, civil oil accounted for about 3.9%, electric oil accounted for about 2.4%, and commercial oil accounted for about 1.9%. After experiencing the oil crisis in the 1970s, the United States began to pay attention to improving energy utilization and saving energy, and the energy intensity continued to decline. At the end of 1990s, the energy required for producing every dollar decreased by 44% compared with that in 1970, and the annual per capita oil consumption decreased from 31 barrels in 1978 to 26 barrels in 2000, a decrease of 20%. On the whole, since 1973, American economy has increased by 126%, while energy consumption has only increased by 30%.

　　In order to improve the energy utilization rate, the federal government formulated the Energy Star program as early as the 1970s, and in the late 1980s, it set energy-saving standards for related industries, such as automobile manufacturing, household appliances and building lighting. Some energy-intensive production units, such as wood processing and papermaking, chemical industry, petrochemical refinery, metal smelting, food processing, ceramics and glass firing, have either adopted new energy-saving technologies or shut down and turned around, reducing the dependence of the economy on energy to some extent. In addition, the adjustment of macroeconomic structure and the rise of non-energy-intensive industries, such as communication and information technology, microelectronics and financial services, have also greatly reduced the energy intensity of the United States.

　　On the other hand, because the transportation industry in the United States accounts for more than 65% of its total oil consumption, the automobile industry in the United States developed rapidly during the period of low oil prices in the 1980s and 1990s, and the vehicle types became larger and larger, especially the fuel-intensive vehicles such as off-road vehicles and sports cars, which were favored by consumers. Therefore, the demand for petroleum products, mainly gasoline, has greatly increased. The US Department of Energy predicts that in the next 20 years, US oil consumption will increase by 33% and natural gas consumption by 50%, and by 2020, US oil consumption will reach 26-27 million barrels per day.

　　Iv. import

　　The United States has been a net energy importer since 1950s. After 1985, its dependence on imported oil increased significantly. In 2003, its import volume increased from 4.3 million barrels per day in the mid-1980s to 12.2 million barrels per day (equivalent to 605.1 million tons), an increase of 7.9% over the previous year, accounting for 62% of its total domestic oil demand and 26.8% of the world’s total imports. Among them, the import volume of crude oil is 9.645 million barrels per day and that of oil products is 2.609 million barrels per day. The main import sources are Canada (2.1 million barrels per day), Saudi Arabia (1.8 million barrels per day), Mexico (1.6 million barrels per day) and Venezuela (1.4 million barrels per day). Among the sources of oil imports in the United States, more than two-fifths of oil imports come from member countries of the Organization of Petroleum Exporting Countries. From 1973 to 2000, the dependence of American domestic market on imported oil increased from 35% to 52%, natural gas increased from 5% to 15%, and the proportion of energy imports in its total imports exceeded 10%. In order to meet the increasing domestic oil demand and ensure the safety of energy supply, the United States has formulated a multi-faceted global supply system strategy in its energy policy and implemented a diversified policy of oil and gas import sources. In addition to taking Saudi Arabia, Kuwait and other oil-producing countries in the Middle East as the leading sources of supply, it also makes full use of the convenience of the North American Free Trade Area to consolidate the existing energy production and cooperation with Canada and Mexico.Increase investment in onshore and offshore oil and gas fields in Latin America and Central and South America countries such as Venezuela, Trinidad and Tobago, Bolivia, Brazil, Argentina, Chile, Paraguay, Uruguay, Colombia, etc., and ensure the source of oil supply for the United States in this region. And set up the US-Russia oil and gas working group and the US-Kazakhstan oil and gas and commercial energy working group, increase investment in Aegean and African countries and regions, and make use of technological advantages to carry out deep-sea oil and gas exploration and production in the Atlantic basin between Canada and the Caribbean, Brazil and West Africa.

　　V. Inventory

　　Strategic reserve oil

　　After being hit by the oil embargo imposed by the oil-producing countries in East Arab in the early 1970s, President Carter signed the energy policy and energy-saving law in 1975 and decided to establish a strategic oil reserve. On July 21, 1977, about 412,000 barrels of Saudi light crude oil were injected into the salt cave on the coast of the Gulf of Mexico as the first strategic storage. According to the relevant laws, only when the domestic energy supply or import is blocked, or the oil price rises sharply due to the oil embargo, which may seriously threaten national security or economic operation, can the President of the United States decide and order the use of strategic reserve oil. On November 13, 2001, President George W. Bush announced that the strategic oil reserve would be increased to 700 million barrels. At present, the strategic oil storage capacity of the United States is 727 million barrels. The International Energy Agency requires that the United States’ oil reserves (strategic and non-strategic stocks) should reach 90 days’ import. The maximum withdrawal amount of strategic oil reserves is 4.3 million tons/day, and it takes about 13 days from the withdrawal of stocks to entering the US market. In order to establish strategic oil reserves, the United States has invested a total of 21 billion US dollars, of which 4 billion US dollars are used to purchase oil storage facilities and 17 billion US dollars to purchase reserve oil. The reserve oil will come from 20 countries, of which light crude oil accounts for about one-third of the total reserve oil and two-thirds is heavy crude oil (crude oil with sulfur content above 2%). As of August 24, 2004, the United States had 667 million barrels of strategic reserve oil, which was equivalent to 55 days’ import at that time. Among them, 270 million barrels of light crude oil and 397 million barrels of heavy oil.(In 1985, the strategic stock oil reached the import volume equivalent to 118 days at that time). The main oil storage locations are related states in South America, such as Louisiana and Texas, which are close to the Gulf of Mexico. The strategic reserve oil of the United States has played an important role in stabilizing the international oil market. Since the establishment of the strategic oil reserve, only when Iraq attacked Kuwait in early 1991 and caused the price of the international oil market to rise sharply, according to the allocation quota of the international energy agency, President Bush ordered the Ministry of Energy to use 33.75 million barrels of crude oil when launching the operation desert storm to calm the price rise in the oil market. But in the end, the United States only used 17.3 million barrels, which effectively brought the international oil price down sharply.

　　Commercial petroleum inventory

　　According to api gravity data, by the end of July, 2004, the commercial inventory of crude oil in the United States was 298 million barrels, up by 4.6% over the same period of last year, the inventory of gasoline was 212 million barrels, up by 5.2%, and the inventory of other oil products was 158 million barrels. At the end of July, the national inventory of various oil products (excluding strategic oil reserves) was 959.6 million barrels, a slight increase of 0.2% over a year ago.

　　VI. The Impact of Oil Price Fluctuation on American Economy

　　Since 2003, especially since August this year, the sharp and rapid rise in oil prices has caused the international oil market to fall into panic again. The New York Mercantile Exchange’s September West Texas Intermediate crude oil futures price broke through the psychological defense line of $40 and $45 per barrel in just a few weeks, and reached the $50 mark. Finally, on August 20, it fell back after hitting $49.40. Compared with the beginning of the year, oil prices have increased by about 50%.

　　People in the industry have consistent views on the reasons for the rising oil prices, mainly as follows: 1. Compared with other commodities, the monopoly of oil is still strong. In order to maintain the selling price, the Organization of Petroleum Exporting Countries has been adopting the sales strategy of limiting production and insuring prices in recent years, but the supply has decreased. 2. The international market demand shows a slow growth trend, and the oil import demand of emerging countries, especially China and Indian countries, rises sharply. 3. The geopolitical situation is turbulent, and anti-government forces in Iraq threaten to blow up oil production facilities, kidnap foreign companies as hostages and carry out terrorist activities. The political turmoil caused by Venezuela’s domestic election has affected its oil production and export, and the protracted tax evasion case by KOS Oil Company in Russia has caused market panic. 4. Speculation in the oil futures market has intensified. As soon as traders encounter trouble, they will take the opportunity to speculate, which will contribute to the rise and fall of oil prices. 5. The production capacity of the member countries of the Organization of Petroleum Exporting Countries is close to the limit, and their ability to regulate oil supply is declining.

　　As for the possible impact of this oil price on the economy, there are different opinions. As the impact of oil price fluctuation on economy is lagging behind, judging from several oil crises since 1970s, every crisis is always accompanied by high inflation and economic recession. For example, the first oil crisis when the Arab countries imposed an oil embargo led to a serious global recession in 1973-1975, the oil crisis triggered by the Iran-Iraq war in 1979 led to a global recession in 1981-1982, and the oil price shock triggered by the Gulf War plunged the western industrialized countries into a relatively moderate economic recession in 1990-1991. Therefore, some economists believe that this sharp rise in oil prices will inevitably bring considerable negative impact to the world economy. Take the United States as an example. In 2004, its GDP increased by 4.5% in the first quarter, and decreased to 3% in the second quarter. Affected by the oil price shock, many American economists have lowered their economic growth forecasts in the second half of the year, arguing that high oil prices will affect consumer spending, reduce investment, reduce national real income, keep the unemployment rate high, widen the foreign trade deficit, and may lead to inflation. What’s more, it is believed that the American economy may experience stagflation or fall into recession again in 2005. However, some institutions, such as the Federal Reserve Board of the United States, are optimistic that the impact of this oil price shock on the US economy is limited, and it will not lead to a new economic crisis. The reason is that from a macro perspective, there has been no fundamental change in the relationship between supply and demand in the international oil market.The oil supply is sufficient, the demand for oil in the United States has not increased significantly, and it is backed by a considerable oil inventory. More importantly, the tolerance for rising oil prices is greatly enhanced compared with the past, so it can cope with price fluctuations in the international oil market in a short period of time. Once speculation subsides, the oil market will return to its original pattern.

　　The author believes that oil is a strategic scarce resource. Although major oil importing countries have been practicing energy conservation and improving energy utilization for a long time, the status of oil as a major energy source cannot be effectively replaced for a long time to come. With the continuous development of the world economy, especially the rapid economic development of developing countries such as China and India, the demand for oil in the international market is bound to increase. At the same time, the international geopolitical pattern is turbulent, especially the terrorist activities in major oil-producing countries such as the Middle East, which will always be an unstable link in the supply chain of the international oil market. Therefore, in the long run, oil prices will continue to rise with the increase in demand caused by the development of the world economy. The possibility of a sharp rise in oil prices in the short term due to temporary factors and speculation is not ruled out. From the perspective of the United States, as it experienced the oil crisis in the 1970s, it adjusted its macro-energy policy in time, paid attention to the diversification of energy composition, increased the development of natural gas resources, nuclear energy and other alternative energy sources, improved energy utilization rate and focused on energy conservation, diversified import channels, and a huge strategic oil reserve, so its overall resilience to resist the energy shortage crisis was greatly enhanced compared with the past, and short-term oil price fluctuations had relatively little impact on the economy. Therefore, although this oil price shock will definitely affect its economic growth in the second half of 2004, it is estimated that it will not have a reversible impact on its economic activities, and the specific impact will need further close attention.

　　According to the statistics of the U.S. Department of Energy, 48% of the total crude oil consumed in the United States is used to produce gasoline and other fuels. Due to the popularity of multi-purpose vehicles with high horsepower and high fuel consumption, the consumption of gasoline in the United States has increased by 24% since 1990. Since September and November, especially since this year, due to the intensified price fluctuation in the international primary raw material market and domestic natural disasters, especially the hurricane that frequently visited the relevant States in the southern United States last year and this year (which is also the gathering place of many large American oil refineries), the domestic petroleum products in the United States, such as gasoline and heating oil, have shown a tight supply market situation, which has led to. It is estimated that gasoline consumption will increase by 48% over the current level in 2025. Because domestic production is far from meeting the market demand, the proportion of imported gasoline in the total gasoline consumption in the United States has soared from 4% in 1995 to about 10% at present. According to the forecast of the Energy Information Administration, by 2025, the gasoline consumption in the United States will increase from the current 8.9 million barrels per day to 13.3 million barrels per day. By then, gasoline alone will account for half of the crude oil consumption in the United States. At the same time, the proportion of diesel oil, heating oil and aviation fuel oil in the demand for refined oil will also increase greatly. In sharp contrast, since the second half of the 1990s, the domestic refining capacity in the United States has increased by less than 1%.

　　The main reasons for the imbalance between supply and demand in the oil market are:

　　Since the 1970s, due to the persistent surplus of international crude oil market, oil prices have been hovering at a low price for a long time. At this stage, American refineries have maintained a low rate of return and a low rate of return on investment, which greatly inhibited investors from expanding refinery facilities and launching new refineries. In fact, since 1976, the United States has not built a new refinery (just increasing the production scale of existing facilities). At present, the number of oil refineries has decreased by more than half compared with 1981, while gasoline consumption has increased by 45%. According to the statistics of the relevant departments of the US Department of Energy, the number of refineries in the United States has decreased from 324 in 1981 to 148 (including 4 idle ones). These refineries are located in 32 States in the United States, with an overall crude oil processing capacity of 17.12 million barrels per day. In the past ten years, nearly 50 refineries have closed down, and most of the existing enterprises have outdated equipment and various accidents. The reason is mainly attributed to the large-scale reorganization of oil refining enterprises after the two oil crises in the 1970s, such as selling and closing excess production equipment, which led to the reduction of the number of refineries in this industry. In addition to the overcapacity factors that affected the new investment in the oil refining industry in the 1980s and 1990s, various regulations in the United States, such as more stringent environmental laws, clean air laws, relevant regulations on air quality, water quality, waste and automobile exhaust emissions, more additional government licenses and regulations to further reduce the sulfur content in gasoline and diesel, in addition,Refineries also need to produce gasoline and diesel with different standards according to federal standards, state government standards and local government standards, and it takes time to apply for more complicated government licenses. Clean fuel standards (such as the introduction of various environmental protection standards one after another, the increasingly strict emission standards for automobile exhaust, etc.) undoubtedly make refinery production more difficult and new capital investment increase. According to statistics from the United States, in the past 10 years, the refining industry in the United States has invested about $47 billion in environmental protection projects, mainly for producing low-sulfur unleaded gasoline that is more conducive to environmental protection. Under the restriction of internal and external environment, many oil refining enterprises have high input and low output, while some refineries are forced to close down because they cannot adapt to the increasingly fierce industry competition.

　　List of refinery distribution and crude oil processing capacity in the United States

　　Number of refineries by state, among which idle number crude oil processing capacity

　　Idle processing capacity (barrel/day)

　　Delaware 1 175000

　　Georgia 1 1 28000 28000

　　New Jersey 6 1 666000 51000

　　Pennsylvania 5,770,000

　　Virginia 1 58600

　　West Virginia 1 19400

　　Illinois 4 896000

　　Indiana 2 433000

　　Kansas 3 296200

　　Kentucky 2 227500

　　Michigan 1 74000

　　Minnesota 2 335000

　　North Dakota 1 58000

　　Ohio 4 551400

　　Oklahoma 5 484961

　　Tennessee 1,180,000

　　Wisconsin 1 33000

　　Alabama 3 1 130200 16700

　　Arkansas 2 76800

　　Louisiana 17 2772723

　　Mississippi 4 364800

　　New Mexico 3 112600

　　Texas 26 1 4628491 880

　　Colorado 2 87000

　　Montana 4 181200

　　Utah 5 167350

　　Wyoming 5,152,000

　　Alaska 6 373500

　　California 21 2026788

　　Hawaii 2 147500

　　Nevada 1 1707

　　Oregon 1 0

　　Washington 5 616150

　　The United States totals 148 4 17124870 118580.

　　Puerto Rico 2 1 109500 42000

　　Virgin Islands 1,495,000

　　As can be seen from the above table, refineries in the United States are mainly concentrated in Texas, California and Louisiana. The above three States account for 43.2% of the total number of refineries in the United States, and the crude oil refining capacity accounts for 55.1% of the United States. Texas alone accounts for 17.6% and 27.0% of the total in the United States.

　　Geographically, refineries in the United States are mainly concentrated in Texas and Louisiana near the Gulf of Mexico in the southern United States.

　　About 25% of the existing refinery production capacity in the United States is controlled by foreign enterprises. Mainly operated by large petrochemical multinational companies, such as BP, Shell Chemical Company, Dow Chemical Company, ExxonMobil Company, Texaco Company, Continental Philips Company, Chevron Company, Marathon Schlander Company, Citgo Petroleum Corp., Motiva Enterprises LLC, Murphy Oil USA Inc., Valero, Total Petrochemical Inc.,

　　Western refining co., chalmette refining LLC., premcor refining group Inc., etc.

　　Since the beginning of the 21st century, due to the turbulent world political situation and increasing demand, the price of international crude oil market has been rising, which has led to an increase in market demand for oil products. Although refineries are operating at full capacity, the demand is still in short supply. At the same time, due to the aging equipment of many refineries, accidents continue (for example, BP’s refinery in Texas suffered two accidents, including the explosion in the first half of 2005, which caused dozens of casualties and heavy losses), and the shutdown of refineries along the Mexican coast caused by two hurricanes in August and September 2005, as well as speculation in the international oil futures market, which further aggravated the shortage of oil products in the US oil market, and the prices of motor gasoline and diesel oil soared.

　　The Impact of Hurricane Katrina and Rita on American Petroleum Refining Industry

　　In late August and late September, 2005, two successive hurricanes Katrina and Rita swept through the Gulf of Mexico, which not only brought serious casualties and huge property losses to Louisiana and eastern Texas, but also caused heavy losses to the oil refining industry in the United States.

　　According to the statistics of the US Department of Energy, the oil production in the Gulf of Mexico is 1.5 million barrels per day (equivalent to 75 million tons), which is one of the important oil producing areas in the United States. There are dozens of large refineries of multinational oil companies in Texas, Louisiana and Mississippi near the Gulf of Mexico. For example, there are 17 refineries along the Mexican coast in Texas, including 10 refineries in Houston, with a daily refining capacity of 2.3 million barrels of crude oil, accounting for 13% of the total refining capacity in the United States. There are four refineries in Beaumont and port arthur, with a daily processing capacity of 1.1 million barrels of crude oil, accounting for 7% of the total refining capacity in the United States. Exxon Mobil (ExxonMobil) has 348,500 barrels per day, Motiva (Shell) has 285,000 barrels per day, Total has 233,500 barrels per day, and Valero has 255,000 barrels per day (according to the statistics of the US Department of Energy on January 1, 2005). There are three refineries in Christie, Kobos, with a daily processing capacity of 586,000 barrels of crude oil, accounting for 3% of the total refining capacity in the United States. The three refineries in Lake Charles, Louisiana, which were severely hit by this hurricane, were completely shut down. They were Citgo, with a refining capacity of 324,300 barrels per day, ConocoPhillips, 239,400 barrels per day and Calcasleu, with a refining capacity of 30,000 barrels per day.

　　Affected by the hurricane, the production capacity of about 3.5 million barrels per day (equivalent to 20% of the country’s total refining capacity) was temporarily closed. Among them, the refineries in Port Arthur in eastern Texas and Lake Charles in Louisiana suffered from wind disaster or power failure, and the refining capacity of 1.7 million barrels of crude oil per day completely stopped (accounting for about 10% of the national total refining capacity). And thus triggered a sharp rise in the retail price of gasoline in the southern region.

　　Crude oil production and refinery processing capacity in the Gulf of Mexico in the United States

　　(Figures as of August 2005)

　　Proven reserves of Zhoubie crude oil

　　(Million barrels) Ranks crude oil output in the United States.

　　(1,000 barrels per day) Ranks the number of refineries in the United States and ranks the processing capacity of refineries in the United States.

　　(million barrels) market share in the United States

　　USA 148 1712.49

　　Texas 4583 2 1073 2 26 1 4.6 26

　　Louisiana 452 8 228 5 17 2.8

　　Alabama 52 19 20 16 3 0.114

　　Mississippi 169 14 47 13 4 0.365

　　Georgia nothing 1 0.028

　　Florida 68 17 8 20 0 0

　　Oklahoma 588 6 171 7 5 0.485

　　Arkansas 50 20 18 17 2 0.077

　　Subtotal 5962 1565 58.469

　　Source: Energy Information Administration of the US Department of Energy, Census Bureau and National Petroleum News "Market Information in 2004".

　　As can be seen from the data in the above table, the Gulf of Mexico in South America occupies a considerable share in the US energy market in terms of crude oil production, refinery quantity and processing capacity, and also has a certain impact on domestic and even international oil prices.

　　After learning from a painful experience, the US government decided to review the existing oil refining industry mechanism in the United States to find out whether there is monopoly and price manipulation in the industry after consumers were hit by the recent sharp rise in oil prices and complained. To this end, the CEOs of Exxon Oil Company, Shell Oil Company, BP America Company, Continental Oil Company and Chevron Company, which account for 42% of the national oil refining capacity, were invited to attend the Senate hearing to explain why they made profits as high as $32.8 billion in a quarter from June to September 2005.

　　In order to cope with the increasing demand for oil products and reduce price fluctuations, members of the Senate and House of Representatives of the United States have proposed new refinery expansion bills, and some have proposed to build new refineries in areas where the unemployment rate is 20% higher than the national average. This will not only achieve the purpose of building refineries, but also increase employment. Some suggest giving preferential tax treatment or tax exemption to attract investors, and some suggest using abandoned military bases as the site of new refineries, which can cause less opposition from nearby residents. However, judging from the current actual situation, a substantial increase in the supply of domestic oil products in the United States can not be achieved overnight. Although the oil supply can be increased to a certain extent by restructuring the refining industry again, combining and expanding existing refineries, improving production processes and processes, even those refineries that have not yet reached full production are limited in their production capacity. The fundamental way to solve the problem is to build a new refinery, but it is expected to face great resistance. The first is the site selection. Many people will agree to build the refinery, a potential pollution source and a "time bomb", in their own backyard. Secondly, it is complicated and time-consuming to apply for relevant permits and obtain approval from competent authorities at all levels. The most important thing is to build a new refinery with large investment, low average profit level and long payback period. The investment in building a new refinery is usually as high as several billion dollars, and even a small refinery needs about one billion dollars.However, the sharp fluctuation of the international oil market price has increased many uncertainties in predicting the investment recovery period and return rate of refineries, which has inhibited the investment desire of potential investors. There is also a recognized view that due to the continuous integration and merger of the oil industry in the past few decades, most small companies with little capital and weak technical strength have been washed out or merged. At present, most of the companies operating in the market are multinational companies, and the market participants in this industry are relatively few, and the competition is not as fierce as other industries. In other words, the monopoly is strong. The rise in oil prices has been expected by these companies for many years, so they will never give up this opportunity to make a lot of money. Building a new refinery will undoubtedly increase competitors and reduce the average profit rate, so there is little interest in these current vested companies.　　

Editor: Wang Yuxi

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)

　　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:

All-media reporter of rule of law daily Jiang Dongliang Liang Pingni

　　"The boss defaulted on my salary and didn’t ask for it many times. What can I do?" Not long ago, Wang, a villager in Zhangzhuang Town, Yucheng City, Shandong Province, came to the "Law to Help" legal clinic in Zhangzhuang Judicial Office for consultation. Lawyer Hongfeng, who was "sitting in the clinic" that day, fully understood the situation and helped Wang clarify the legal relationship and immediately wrote a civil complaint for him. Knowing that Wang’s family was in financial difficulties and met the conditions for applying for legal aid, the staff of the judicial office immediately assisted him in applying for legal aid.

　　In May, 2022, in order to solve the problem of "urgent difficulties and anxiety" in people’s production and life, Zhangzhuang Judicial Office established the "Law to Help" legal clinic, which adopted a new legal service model integrating legal consultation, legal aid, popularization of law, physical examination under the rule of law, litigation agency and conflict resolution, and set up a "general legal clinic" and a "legal expert clinic", which was run by judicial staff. The "legal expert clinic" is attended by specially invited lawyers and legal service workers every Friday, so that people can enjoy convenient, fast and efficient legal "diagnosis and treatment" at their doorsteps.

　　In Zhangzhuang Town, the solemn promise of "If you have something to talk about, come and help with your true heart rhythm" has been deeply rooted in the hearts of the people. "In the past, when ordinary people encountered legal problems, they didn’t know what to do and who to look for. Now, when they go to the town to catch a gathering, they can go to the judicial office to sit and talk. Consultation costs nothing, and disputes are returned to mediation. There is no need to worry about legal problems anymore!" Wang said.

　　In recent years, Yucheng City, with the construction of "Fengqiao Judicial Office" in the new era as the carrier, has continuously strengthened the empowerment of the rule of law. Through the establishment of the "one institute, one product" project, various legal service resources such as legal aid, notarization, judicial expertise and lawyers have sunk to the forefront, and the grassroots foundation of judicial administration has been continuously consolidated, creating a frontier position to boost grassroots rule of law construction.

　　"The’ Law to Help’ legal clinic opened by Zhangzhuang Judicial Office is one of the key projects of’ One Institute, One Product’." Han Peijun, Party Secretary and Director of the Judicial Bureau of Yucheng City, told the reporter that since the establishment of the "One Institute, One Product" project, Yucheng City has made great efforts to guide and urge the judicial offices in its jurisdiction to reform, innovate and boldly explore, and dig deep into innovative practices in people’s mediation, public legal services, and rule of law town street construction, and form a bright brand to practice and promote. At present, some projects in Juzhen, such as "Diversified Solution of Xiaolong Mediation Room", Xindian’s "Five Governance and Co-construction", Anren’s "Lao Zhao Mediation" and Lunzhen’s "Legal Service Workstation for Small and Medium-sized Enterprises", have also achieved initial results, forming a number of judicial brands of "no one has me, people have me new, and people are new and excellent".

　　"In recent years, with the deepening of the construction of the’ Fengqiao Judicial Office’, the Zhenjie Judicial Office has not only been limited to the traditional judicial administrative functions such as mediation of disputes and popularization of law, but the public legal service force has been tilted to the grassroots level, and the legal construction functions such as the judicial director attending party and government meetings and legality review have gradually expanded to the judicial office, and the supporting office space, personnel and funds have all been implemented." Han Peijun said that the establishment of the brand project has further extended the service tentacles of the judicial office and become a full-time, all-round and full-coverage rule of law platform for serving the grassroots, promoting grassroots governance according to law and building the rule of law in towns and streets.

　　Since 2022, Yucheng City has built 17 distinctive and remarkable brands of judicial offices, covering dispute mediation, enterprise-related legal services, and the construction of the rule of law in towns and streets. The judicial offices have resolved 2,213 contradictions and disputes, answered 212 legal consultations, assisted in handling 4 legal aid cases, issued more than 20 legal opinions, and carried out more than 100 publicity and education activities on the rule of law. The judicial directors and legal advisers in towns and streets attended 125 party and government meetings. At present, 9 of the 11 town and street judicial offices in Yucheng City have been named as "Fengqiao-style judicial offices" in Dezhou New Era.

????With the rapid development of the Internet, the age of "touching the net" for the first time has dropped, and minors have become "little aborigines" in the online world. However, for minors with poor discrimination and strong imitation ability, the online world has both "poetry and distance" and "tension", which is not always so friendly and even dangerous.

????How to create a clean and sunny cyberspace for minors has become the common concern of many deputies to the NPC and CPPCC this year. They called for the establishment and improvement of the legal system for minors’ network protection as soon as possible, and strengthened the supervision of minors’ network protection. Cyberspace must not be turned into an "extra-legal place" for minors’ protection.

Bad Internet content poisons teenagers.

????According to the 42nd Statistical Report on Internet Development in China issued by China Internet Network Information Center (CNNIC), as of June 2018, the number of netizens in China was 802 million. Netizens have the largest group of middle school students, accounting for 24.8%, and netizens aged 10 to 19 account for 18.2%.

????"Studies have shown that teenagers aged 12 to 16 are at high risk of Internet addiction." Deputy Zhao Wanping, vice president of Anhui Academy of Agricultural Sciences, said with concern that at present, some websites, online movies, online videos, etc. contain exciting, violent and pornographic contents, which are imperceptibly "assimilating" and even poisoning teenagers. Their discrimination ability is poor, and it is easy to confuse virtual and reality. Moreover, long-term addiction to the Internet will also lead to children’s health problems such as anxiety and depression, and gradually lose their social communication skills, which is extremely harmful.

????"With the rapid development of the Internet and the rapid rise of mobile apps, the increasingly colorful online communication content has a vital impact on young people in the critical period of the formation of the’ three views’." Representative Kong Tao, secretary of Anhui Provincial Committee of the Communist Youth League, focused his attention on the governance of mobile App.

????Kong Tao analyzed the current chaos of mobile phone apps, and found that some apps have no restrictions on registration, so they can download and register directly and complete the application, treating users directly as adults. The privacy policies of some apps do not mention the protection of minors’ information, and there is a phenomenon of minors’ information leakage. There are also some apps that take the vulgar route, which has a negative impact on the physical and mental health of young people.

????The Chinese People’s Political Consultative Conference Youth Federation believes that there are similar problems in webcasting, especially the low threshold of the live broadcast platform, and a large number of anchors have emerged who rely on vulgar content to earn traffic and gain profits. Teenagers watching this kind of live broadcast will mistakenly think that these behaviors can be famous, profitable and even follow suit.

Lack of corporate responsibility and poor parental supervision

????"Comparing the data in recent years, we can find that the age of minors’ first contact with the Internet continues to decline, and it is not uncommon for teenagers to indulge in the Internet." Zhao Yuping said that in order to protect the network security of minors, it is necessary to identify the lesions.

????Zhao Yuping believes that the lack of corporate responsibility is an important reason for minors to indulge in the Internet. From a technical point of view, enterprises can completely take control measures such as real-name authentication and overtime offline for minors, but in order to attract more users to make profits, some enterprises have opened a "half-door" for minors, making it easy for minors to download and use the product.

????"Social protection is not in place, and many minors are passive in contacting bad information. Statistics show that when browsing the web, the bad information that pops up accounts for more than 70%. " Kong Tao said that at this time, minors will encounter a choice. Will he turn off or continue browsing? Do you want to solve it yourself or tell your parents? For minors who have no mature values and control ability, they are likely to make wrong choices.

????Cui Jianmei, president of Anhui Bengbu First Experimental School, has been engaged in education for many years. In her view, parents also have unshirkable responsibilities because of poor supervision and laissez-faire.

????"Parents’ companionship is the best care for children, but some parents are busy with work and spend too little time with their children, resulting in emptiness in their hearts. Other parents’ educational methods are simple and rude, which may easily lead to children’s dissatisfaction and rebellious psychology, which will lead to children looking for another kind of protection and comfort in the network." Cui Jianmei said that children’s addiction to online family education in Otawa is related to the need to move the focus of education forward, and we can’t wait until we find out that there is something wrong with the children, which is often too late.

Legislation to protect minors’ network security

????Internet is a "double-edged sword" for minors. During the interview, many deputies told reporters that we should not only be alert to the danger of "ambush" in the online world, but also consider the benefits of the network in providing massive knowledge and relaxing leisure. We should not "cut off the network" across the board. The key is to protect the network security of minors and guide them to surf the Internet correctly.

????Zhao Wanping, a number of deputies, unanimously took legislation as a sharp weapon to solve the problem, and suggested that relevant legislative investigations and studies should be carried out quickly, and the Regulations on the Protection of Minors’ Network should be promulgated and implemented as soon as possible, and the Law on the Protection of Minors should be revised, and a special chapter should be added to make provisions on network protection, so as to build a basic legal framework for the protection of minors’ network in China and clarify regulatory responsibilities, protective measures and punishment measures.

????"For the regulatory authorities, it is necessary to implement a review system such as mobile App and online film and television works, and divide different age levels according to the content. It is strictly forbidden for audiences who do not reach the level." Zhao Yuping suggested that for enterprises, it is necessary to implement the real-name authentication system for minors, requiring minors to register their real names and "brush their faces". If the information does not match, it is strictly forbidden to register and log in. It is necessary to strengthen industry self-discipline, ensure that the information and services provided by enterprises are healthy, and consciously block bad information.

????In view of the problem of webcasting, the Youth Federation suggested that there should be a clear prohibition on minors serving as network anchors; Clearly define the anchor access conditions, formulate reasonable application evaluation, and improve the anchor qualification review; Intensify the investigation and punishment of the live broadcast platform that is ineffective in review and supervision and does not deal with illegal content in time; Open the channels for netizens to report bad information.

????With the development of modern teaching methods, "Internet+Education" and artificial intelligence have entered the students’ classroom. Cui Jianmei said that schools should educate and guide students to use the internet correctly and strengthen students’ network literacy education. When building a learning platform for students, we should eliminate interference elements and create a pure learning environment for students. At the same time, we should give full play to the role of the vice president of the rule of law, train students, parents and teachers, improve their awareness of the rule of law and their ability to solve problems on the Internet by using the thinking of the rule of law, and prevent and correct students’ improper online behavior.

????Kong Tao suggested setting up and making good use of "parental supervision mode" and "anti-addiction setting", encouraging more platforms to launch special designs for the protection of minors, and creating green online space for them. At the same time, parents can work with their children to make internet conventions to help them arrange their internet time reasonably. More importantly, they should teach their children to be vigilant when surfing the internet, not to trust netizens, and to inform their parents in time when they are harassed. (Legal Daily reporter Fan Tianjiao)

With the disclosure of the financial reports of multinational pharmaceutical companies in the second quarter of 2023, we summarized the revenue, net profit and R&D expenses of the top 10 pharmaceutical companies in the first half of 2023.

Screenshot source: company financial report

In terms of revenue ranking, the Top10 revenues in the first half of 2023 are: Johnson & Johnson, Roche, Pfizer, Merck, Novartis, Abbey, Sanofi, Bristol-Myers Squibb (BMS), AstraZeneca and GlaxoSmithKline (GSK). Among them, Roche, Pfizer, Merck, AbbVie, BMS and GSK experienced negative growth.

In terms of net profit, Roche earned the most, nearly 8.7 billion US dollars. Followed by Pfizer, Johnson & Johnson and Novartis. It is worth noting that Merck lost nearly $3.2 billion in 2023H1.

Judging from the R&D expenses, Merck 2023H1 R&D expenses reached 17.6 billion US dollars, far exceeding those of Johnson, Roche and AstraZeneca.

JNJ

Screenshot Source: Company official website

On July 20th, Johnson & Johnson released the Q2 financial report for 2023: revenue was $25.53 billion, a year-on-year increase of 6.3%. Among them, the revenue of the pharmaceutical sector was 13.731 billion US dollars, a year-on-year increase of 3.1%; Pharmaceutical business accounts for 54% of the total revenue, which is the highest and fastest growing sector of Johnson & Johnson. So far, Johnson & Johnson’s total revenue in 2023H1 was US$ 50.276 billion, a year-on-year increase of 6%.

As far as products are concerned, the sales of two core products of Johnson & Johnson, Stelara and Darzalex, totaled nearly $10 billion in the first half of the year.

In addition, the sales volume of the BCMA CAR-T product Carvykti (Sida Chiolense) in cooperation with Legendary Bio reached US$ 189 million in the first half of the year, and it is expected to achieve sales volume of about US$ 480 million this year.

Roche

Screenshot Source: Company official website

On July 27th, Roche released its financial report for the first half of 2023: the Group’s global revenue was 29.779 billion Swiss francs (about 34.2 billion US dollars, calculated at the exchange rate of 1 Swiss franc ≈ 11493 US dollars), down 2% from the previous year. The net profit was 7.563 billion Swiss francs, a year-on-year decrease of 9%; R&D investment was 6.449 billion Swiss francs, up 8% year-on-year.

The tumor field is still Roche’s main position, contributing 9.775 billion Swiss francs, but the growth rate is slowing down.

Among them, Roche’s pharmaceutical sector increased by 8% year-on-year in 2023H1. Among them, the new anti-Vabysmo drug launched in early 2022 once again became the main driving force for growth, with sales of nearly 1 billion Swiss francs.

In addition, the top five drugs in pharmaceutical business in 2023H1 were: Vabysmo, Ocrevus (multiple sclerosis), Hemlibra (hemophilia), Evrysdi (spinal muscular atrophy) and Phesgo (breast cancer), which contributed a total of 7.5 billion Swiss francs in sales, up 42% year-on-year.

Pfizer

Screenshot Source: Company official website

On August 1st, Pfizer announced its 2023H1 results, with revenue of $31 billion, a year-on-year decrease of 42%. Among them, the revenue in the second quarter was US$ 12.7 billion, down 54% year-on-year. The decline in performance was mainly due to the decline in demand for oral drugs Paxlovid in COVID-19 and Comirnaty in COVID-19.

Although there was a significant year-on-year decline, last year, with the income from vaccines and oral drugs, Pfizer achieved a revenue of 100 billion US dollars, which has been invested in acquisitions and introduction transactions, accumulating stronger comprehensive strength and post-development for Pfizer’s long-term development.

In terms of products, the RSV vaccine just approved by Pfizer is expected to grow into a super blockbuster, and the pneumonia combined vaccine will be listed at 20 prices and iterated at 13 prices. Ibrance, Xtandi related products, and Inlyta contributed the highest sales volume, with 1.25 billion, 310 million and 260 million respectively.

Screenshot Source: Drug Rong Yun Global Drug R&D Database

Pfizer said that the newly listed and expected listed pipelines will provide higher revenue for the second half of the year, while there are still uncertainties about COVID-19 products, which are expected to be eliminated by the end of the year.

Merck

Screenshot Source: Company official website

On August 1st, Merck released its second-quarter financial report, with revenue of $15.035 billion, a year-on-year increase of 3%. As a result, the total revenue in the first half of the year was $29.522 billion, down 3% year-on-year. Among them, the income from pharmaceutical business was US$ 26.179 billion, down 3% year-on-year, of which the income from China District was US$ 3.581 billion, up 13.7% year-on-year. R&D expenditure was US$ 17.6 billion, up 227% year-on-year.

In terms of products, the sales of K drug, Keytruda, continued to hit a record high in the first half of the year, reaching US$ 12.065 billion, up 20% year-on-year; Annual sales are expected to reach a new height and reach the top of the "drug king" throne. The sales of HPV vaccine Gardasil in the first half of the year was US$ 4.43 billion, a year-on-year increase of 47%. The total revenue of the two products was $16.495 billion, accounting for 63% of the pharmaceutical business income. However, Humira was hit by bio-similar drugs, and the market shrank rapidly.

In the field of vaccines, Merck’s follow-up heavy products include pneumonia conjugate vaccine. The sales of 15-valent pneumonia conjugate vaccine in the first half of the year was 274 million US dollars, and 21-valent pneumonia vaccine just announced the success of Phase III clinical trial.

References:

1. Financial reports of companies

2. Rong Yun database.

<END>

On May 23rd, Net Chuan Beijing Dacheng (Changzhou) Law Firm sent a letter of marriage proposal with a fresh seal: I hope you will immediately agree to our client’s request for marriage proposal. If you don’t reply within the time limit, you will miss your lifelong happiness. In this regard, Dai Xu, the managing partner of the institute, initially responded that it was under investigation. In addition, the headquarters of Beijing Dacheng Law Firm was also involved in the investigation.

This proposal letter circulated in the circle of friends shows that Ms. Ren, the lawyer group of Beijing Dacheng (Changzhou) Law Firm, accepted the entrustment of Mr. Wang, and sent you a lawyer letter regarding Mr. Wang’s proposal to you. The details are as follows: On May 20, 2016, in a building in Qinhuai District, Nanjing, you met Mr. Wang. In the following three years, Mr. Wang and you have a harmonious relationship and live in harmony. Mr. Wang has been fascinated by your beauty and impressed by your knowledge, and the feelings between the two sides have been heating up. Based on this, the team of lawyers believes that our client has established a deep affection with you and has all the requirements for entering the next stage. In view of the above situation and in accordance with Articles 4 and 9 of the Marriage Law of the People’s Republic of China, this lawyer team sends you this lawyer’s letter, hoping that you will immediately agree to our client’s proposal. If you don’t reply within the time limit, you will miss your lifelong happiness.

To sum up, for your lifelong happiness, please give full consideration to the opinions of our lawyer team and give our client a positive reply as soon as possible.

▲ A letter from a marriage proposal lawyer.

Zhang Xinnian, a well-known lawyer, commented in his circle of friends that it was incorrect to quote Articles 4 and 9 of the Marriage Law in this lawyer’s letter and misinterpreted the legal provisions. In addition, according to the Lawyers Law, the lawyer’s business should be limited to the scope of legal services, and the provision of legal services should be prudent and rigorous. "It is recommended to change to a matchmaking agency."

The upstream journalist noticed that this online lawyer’s letter was stamped with the official seal of Beijing Dacheng (Changzhou) Law Firm.

It is reported that it was an intern lawyer who stole the impression of the law firm and exercised the romance of the legal person in the name of a lawyer’s letter. As a result, the proposal was successful, and I am being investigated by Changzhou Institute and Beijing Headquarters.

▲ WeChat official account, official WeChat of Dacheng Law Firm, replied.

According to an insider of Beijing Dacheng Lawyer, Dacheng Law Firm has a set of strict procedures for issuing a lawyer’s letter. The lawyer system submits an application, drafts a lawyer’s letter, two partners review it, Beijing headquarters reviews it, and the administrative department approves it. "If it is true, it needs at least five people to cooperate before it can be stamped."

For this online news, Dai Xuchu, a partner of Beijing Dacheng (Changzhou) Law Firm, sent a praise expression to the upstream journalists.

The date of the proposal letter was May 20th, and some netizens questioned whether this was a deliberate speculation by the law firm.

At noon on the 23rd, WeChat official account, WeChat of Dacheng Law Firm, published a "Thank you letter to the online lawyer’s letter of compulsory marriage proposal", saying that the official seal of the lawyer’s letter of marriage proposal was made of collage, and the process was commendable, but it had no chance with Dacheng. Four words were added after the date of signature: Dacheng official announcement.

　　Beijing, April 29 (Reporter Yang Boyu) According to the Voice of China "News Night" report, some surveys show that about 78.6% of households in China have spare drugs. However, once the drug expires, its chemical composition, effectiveness and toxicity may change. Recently, some media reported that although family expired drugs have been clearly listed in the National Hazardous Waste List, for a long time, expired drugs have faced the embarrassing situation of no one recycling, nowhere recycling and difficult recycling. It is difficult to recover expired drugs. What is the difficulty?

　　Although expired drugs have multiple risks to people’s health and living environment, many people have not realized the harm of expired drugs for a long time. In a third-class hospital in Beijing, a patient who is prescribing drugs said that expired drugs at home are generally discarded with domestic garbage. Another patient said that although he was worried that discarded drugs would be reused by criminals, the destination of expired drugs could only be the garbage bin. "I usually take the medicine out of the package one by one. I am afraid that someone or someone who picks up waste will see this medicine. I don’t know if it is an expired medicine and it is bad." In the interview, the reporter found that many people have insufficient understanding of the dangers of expired drugs and lack the awareness of active recycling.

　　Relevant experts said that after the drug expires, its efficacy will be reduced and mildew will occur. If it is taken by mistake, it may cause adverse reactions. The chemical substances of some expired drugs will decompose, and the new substances will easily lead to allergies, diarrhea and even life-threatening. If discarded casually, it may also pollute the air, water and soil. At the same time, some unscrupulous traders buy expired drugs and put them on the market after "renovation and processing", which not only harms the health of the people, but also disrupts the order of the drug market.

　　Although expired drugs have multiple hazards and risks, recycling has always been a long-standing problem. Most people have never heard of the recycling channels of expired drugs in their lives. Can the hospital have corresponding channels for the recovery of expired drugs? The reporter consulted a third-class hospital, and the staff of the hospital also said that they had never heard of recycling drugs.

　　Later, the reporter visited a number of chain pharmacies, and the staff also said that pharmacies did not recycle expired drugs. "Chain pharmacies generally listen to the arrangement of the headquarters, and have not worked here for such a long time. It can only be organized or authorized by the pharmaceutical industry association and the Food and Drug Administration. It is not a pharmacy that wants to recycle it, and it can’t be thrown casually. Others don’t know what to do if they find it or use it indiscriminately. "

　　Relevant surveys show that about 78.6% families in China have small family medicine boxes. Among them, 30% to 40% of drugs have expired for more than 3 years, and more than 80% of families have no habit of cleaning medicine boxes regularly. About 15,000 tons of expired drugs are produced in the country every year. Wang Yue, a professor at Peking University Institute of Medical Humanities, said that the proportion of expired drugs correctly handled in China is extremely low, which is not unrelated to the widespread drug waste. He said: "At present, about 20% of expired drugs in China can be properly handled. In addition, the phenomenon of drug waste in China is very serious. The reason why there are a large number of expired drugs is because our family reserves too many drugs. How to improve the utilization rate of drugs and reduce the number of drug reserves at home is also something that the new drug administration law should consider, such as establishing a sub-packaging system for drugs, that is, hospitals should no longer sell whole boxes of drugs as they do now, and be more economical and more economical, and avoid the waste of expired drugs. "

　　Wang Yue believes that although the current Drug Administration Law clearly requires the production, sale and use of drugs, it has not established a recycling system for expired drugs. "First of all, many drugs contain harmful ingredients, which is often said to be three-point drugs, such as anti-tumor drugs, which have very toxic substances, so the proper handling of expired drugs is of great significance to environmental safety and environmental sanitation. At present, we have not established a legal system for the recovery of expired drugs, which can be added to the Drug Administration Law, which is being revised recently. Because developed countries have relatively perfect systems for the recovery of expired drugs, for example, in the United States and Japan, the enterprise recovery model is generally used, that is, people make a phone call and enterprises can come to replace expired drugs. There is also Germany, which has set up corresponding recycling channels and recycling windows in pharmacies. "

　　It is understood that although some local regulations on the treatment of expired drugs have been issued in various places, they only stay at the level of "measures" and "opinions". At present, the recovery of expired drugs in families is only implemented by public welfare activities of individual enterprises or government departments. How to solve the problem of expired drug recycling? Voice of China will continue to pay attention.

　　Ji Xianlin, the word Xi Ji, and the word Qi Ling. Famous ancient philologist, historian, orientalist, thinker, translator, Buddhist and writer. He is proficient in 12 languages. He used to be a member of the Department of Philosophy and Social Sciences of China Academy of Sciences, Vice President Peking University, and Director of South Asia Institute of China Academy of Social Sciences. Born on August 6, 1911 in Kangzhuang Town, Linqing City, Shandong Province.

　　Professor Peking University, Chairman of the Board of Directors of China Cultural Academy, Academician of Chinese Academy of Sciences, China linguist, literary translator, Sanskrit and Pali expert and writer. There are many achievements in the study of Indian Chinese literature history.

　　Grandfather Ji Laotai, father Ji Silian, mother Zhao, farmer. Uncle Ji Sicheng. When I was young, I learned to read with Ma Jinggong.

　　At the age of 6, he went to Jinan and went to his uncle Ji Sicheng. Go to a private school to study. After 7 years old, I studied in Xinyu Primary School attached to Shandong First Normal School. At the age of 10, I began to learn English. At the age of 12, he was admitted to Zhengyi Middle School and transferred to the high school attached to Shandong University six months later. I began to learn German in high school and became interested in foreign literature. At the age of 18, he transferred to the provincial Jinan High School. The Chinese teacher is Dong Qiufang, who is also a translator. "The reason why I have been dancing and writing for 50 or 60 years, and I still can’t put down my pen until now, is all thanks to Teacher Dong, which I will never forget."

　　In 1930, he was admitted to the Department of Western Literature in Tsinghua University, majoring in German. He studied the comparison of eastern and western poems, English and Sanskrit under Wu Mi and Ye Gongchao, and took elective courses such as Professor Chen Yinque’s Buddhist scripture translation literature, Zhu Guangqian’s literary psychology, Yu Pingbo’s Tang and Song poems and Zhu Ziqing’s Tao Yuanming’s poems. Make friends with classmates Wu Zuxiang, Lin Geng and Li Changzhi, and they are called "Four Musketeers". Among the students is Hu Qiaomu. I like "pure poetry", such as Vereland and Malarme. Verhaeren, parallel prose of the Six Dynasties, works by Li Yishan and Jiang Baishi. He has translated the works of Dreiser and Turgenev. During my college years, I won a scholarship awarded by my hometown Qingping county government with excellent grades.

　　In September, 1935, according to the agreement on postgraduate exchange between Tsinghua University College of Literature and Germany, Tsinghua enrolled postgraduate students in Germany for three years. Ji Xianlin was admitted and went to Germany immediately. Traveling with Qiao Guanhua in Berlin and the United States. In October, I arrived in G? ttingen to meet Zhang Yong, Tian Dewang, etc. Entering the University of G? ttingen, "I dream that I am in G? ttingen, … I can read some books and some words that have been glorious in ancient times and this glory will never be extinguished." "I don’t know if I can catch this dream. "("Ten Years in Germany ")

　　In the spring of 1936, Ji Xianlin chose Sanskrit. He believes that "Indian culture has been greatly influenced by Indian culture, so I will thoroughly study the cultural relationship between China and China, and maybe I can find something". Therefore, "you can’t read Sanskrit." "The road I have to take all my life has finally been found. I have walked along this road for more than half a century until now, and I will go on." (Eleven Years in Germany) "Fate allowed me to strengthen my faith." Ji Xianlin majored in Indian studies and studied Sanskrit and Pali at the Sanskrit Institute of University of G? ttingen. English linguistics and Slavic linguistics are selected as subsidiary departments, and Yugoslav language is added. Ji Xianlin studied under Professor Waldschmitt, the host of the Sanskrit Lecture and a famous Sanskrit scholar, and became his only listener. There are more than 40 classes in a semester, and Ji Xianlin studies very hard. The Buddhist scripture "Great Events" has three thick volumes, which are written in mixed Sanskrit. He races against time and devotes himself to reading and writing. "Turn on the electric light to continue, and stay in poverty forever".

　　From December 1940 to February 1941, Ji Xianlin got four "excellent" in thesis defense and Indian studies, Slavic language and English exams, and obtained a doctorate. Because of the war, there was no way to return home, so I had to stay in Columbia. In October, I worked as a teacher in the Institute of Sinology at the University of G? ttingen, while continuing to study the mixed Sanskrit of Buddhism, and published many important papers in the Journal of the Academy of Sciences of G? ttingen. "This is the golden age of my academic life, and I haven’t seen it since." Postdoctoral years, it is the eve of the collapse of fascism, Germany is short of material, and Ji Xianlin, a foreigner, is inevitably struggling in the "hunger hell", suffering from the war disaster like the German people. As an overseas traveler, I have a deep affection for my hometown, especially feeling that "when there is poverty in the corner of the world, there is only endless lovesickness", and the thoughts of my motherland and my family are lingering day and night. "I look down at the gray sky, and in tears, I conjure up my mother’s face."

　　In 1941, he received a doctorate in philosophy from the University of G? ttingen. Later, he studied under linguist e. Sikh studies Tohoku.

　　In October, 1945, shortly after the end of World War II, he hurried to the road and returned to Switzerland, "just like a dream of spring, it flew over in ten years". After leaving G? ttingen for 35 years, in 1980, Ji Xianlin led a social science delegation from China to visit the city again, and then called on the 83-year-old Waldschmitten to meet each other like a dream. Later, he made a touching famous article "Return to Gottingen".

　　In May 1946, he arrived in Shanghai and went to Nanjing, where he met Li Changzhi again. After Li introduced him, he met the essayist Liang Shiqiu and the poet Cang Kejia. In Nanjing, he paid a visit to Chen Yinque, the mentor of Tsinghua’s period. Chen recommended him to teach in Peking University, and then he paid a visit to Fu Sinian, the acting principal of Peking University in Nanjing. Autumn, back to Peiping, called on Tang Yongtong, Dean of Peking University College of Literature.

　　From 1946 to 1983, he was hired by Peking University as a professor and head of the Department of Oriental Languages and Literature, and founded the Department in Peking University. Colleagues include Ma Jian, an Arabic linguist, and Jin Kemu, an Indian scientist. After liberation, he continued to be a professor and head of the Department of Oriental Studies at Peking University, engaged in department affairs, scientific research and translation. Anna seghers’s Collection of Short Stories (1955) has been published in German, and the Sanskrit literary works have been translated into Chinese, including Indian Galindo Sagondaro (script, 1956), Indian ancient fable story collection, Five Books (1959) and Indian Galindo’s You Li Po Shi (script, In February 1956, he was appointed as a member of the Department of Philosophy and Social Sciences of China Academy of Sciences. In 1954, 1959 and 1964, he was elected as the second, third and fourth members of Chinese People’s Political Consultative Conference. He visited India, Myanmar, East Germany, the former Soviet Union, Iraq, Egypt, Syria and other countries as the cultural emissary of China. During the Cultural Revolution, he was brutally persecuted by the Gang of Four and its Beijing minions. In 1978, he returned and continued to serve as the head of the Department of Oriental Languages in Peking University, and was appointed as the vice president of Peking University and the director of South Asian Institute in Peking University. Elected as a member of the Fifth Chinese People’s Political Consultative Conference. In 1983, he was elected as the Standing Committee of the Sixth National People’s Congress.

　　In 1956, he was a member of the Department of Philosophy and Social Sciences of China Academy of Sciences. He was once a member of the Academic Degrees Committee of the State Council and the head of the foreign language and literature review group, the president of the second Chinese Language Society, the president of the China Foreign Language Teaching Research Association, the honorary president of the Chinese National Ancient Characters Research Association, the representative and standing member of the 6th National People’s Congress, the member of the editorial board of Encyclopedia of China and the director of the editorial board of Language and Characters Volume. His academic achievements are most prominent in the study of Indo-European languages in the Middle Ages. His main works are: The Displacement of Finite Verbs in the Ode to the Great Event (in 1941, he systematically summarized the various morphological adjustments of verbs in mixed Sanskrit used in the Ode to the Great Event in Hinayana Buddhism), and The transformation of suffix -am to -o and -u in Middle Indian languages (in 1944, It has been found and proved that the conversion of the suffix -am to -o and -u is one of the characteristics of Kendra in the northwest Indian dialect in Middle Ages), Language Problems of Primitive Buddhism (1985) (the existence of Primitive Buddhist Scriptures, the language policy of Primitive Buddhism, the historical origin and characteristics of Buddhist mixed Sanskrit, etc.), and Tuhuoluo Texts of Prince Fuli’s Karma Sutra (various variants of Tuhuoluo Texts) As a literary translator, his translations mainly include: Shagongdaro (1956), Five-volume Book (1959), Youliposhi (1959) and Ramayana (7 volumes,1980 ~ 1984), anna seghers’s Short Stories, etc. As a writer, his works mainly include Tianzhu Heart Shadow (1980), Langrun Collection (1981), Ji Xianlin Prose Collection (1987) and Miscellaneous Memories of the Cowshed.

　　From 1978 to 1984, he served as the vice president of Peking University. His works have been compiled into Collected Works of Ji Xianlin, with a total of 24 volumes.

　　In 1988, he served as Chairman of the Board of Trustees of China Cultural College. He has visited Germany, Japan and Thailand as a scholar.

　　Mr. Ji has been teaching at Peking University for many years, and he has profound attainments in linguistics, culturology, history, Buddhism teaching, Indian studies and comparative literature. He has studied and translated Sanskrit works and many classics from Germany and Britain, and now he insists on reading and writing every day even in the ward.

　　Mr Ji Xianlin is admired not only for his knowledge, but also for his character. He said: Even in the most difficult times, he did not lose his conscience. His book is not only a portrayal of the old gentleman’s personal life, but also a reflection of the course of intellectuals in China in the past century. Ji Xianlin’s "Miscellaneous Notes on His Sick Bed" has been released recently. In the book, Mr. Ji Xianlin used insightful words to clarify for the first time what he thought of the three laurels "Master of Chinese Studies", "Academic Leader" and "National Treasure" that had been "added" to his head by the outside world in recent years. He said: "I was freed from the three laurels. The foam on my body was washed away, revealing my true face and everyone was happy. "

　　Since the late 1970s, he has held academic posts: Vice President of China Foreign Literature Society (1978), President of South Asia Society of China (1979), Honorary President of China Society of Ethnography (1980), President of China Foreign Language Teaching Research Association (1981), President of Chinese Language Society (1983), Vice President of Dunhuang Turpan Society of China (1983) and History of China. Vice President of China Higher Education Society (1984), Director of China Writers Society (1985), Honorary President of China Comparative Literature Society (1985), President of China Asian-African Society (1990), etc. In April 1998, Miscellaneous Memories of Cowshed was published (draft from March 1988 to April 1989, finalized in June 1992). The publishing industry believes that "this is a book written with tears and blood." This is the best gift left by a generation of masters to future generations. " Ji Xianlin’s academic research, in his own words, is: "Brahma, Buddhism and Tuhuoluowen are studied simultaneously, while China literature, comparative literature and literary theory are studied in Qi Fei.

　　He was one of the winners of "Touching China in 2006"

　　Ji Xianlin is a famous contemporary linguist. Prose writer An expert in the study of oriental culture. He is known as a "master in academic circles" because of his extensive knowledge of the past and the present.

　　Joined the Communist Party of China (CPC) in 1956.

　　In 1930, he was admitted to Tsinghua University Western Language Department.

　　After graduating in 1934, he taught at Shandong Provincial High School in Jinan.

　　In 1935, he was admitted to Tsinghua University as an exchange graduate student, went to Germany to study, and studied Sanskrit, Pali, Tuhuoluo and other ancient languages at the University of G? ttingen.

　　Received a doctorate in philosophy in 1941.

　　Returning to China in 1946, he served as Professor Peking University, Professor and Head of the Department of Oriental Languages and Literature.

　　The scope of Ji Xianlin’s academic research:

　　1。 Ancient Indian languages, especially Buddhist Sanskrit.

　　2。 tu huo luo wen

　　3。 Ancient Indian literature

　　4。 History of Indian Buddhism

　　5。 History of Buddhism in China

　　6。 History of Buddhism in Central Asia

　　7。 Tang Shi

　　8。 History of Sino-Indian Cultural Exchange

　　9。 History of cultural exchange between China and foreign countries

　　10。 Differences and commonalities between Chinese and western cultures

　　Eleven. Aesthetics and China’s Ancient Literary Theory

　　Twelve. German and western literature

　　Thirteen. Comparative literature and folk literature

　　14。 Prose and essay creation

　　This classification is only a general situation. Ji Xianlin’s academic achievements are summarized by Professor Zhang Guanglin and Mr. Ling Ke from the Department of Oriental Studies in Peking University. Ji Xianlin’s academic achievements generally include the following 10 aspects: (1) Research on the ancient Indian language-the change of finite verbs in the great event, the suffix -am, the transformation to -o and -u in the Middle Indian language, and the use of indefinite past tense as the standard for determining the age and source of Buddhist scriptures. (2) Study of Buddhist History-He is one of the few Buddhist teaching scholars at home and abroad who can really use the original Buddhist scriptures to study. He combines the study of the changing law of Indian medieval language with the study of Buddhist history to find out the generation, evolution and spread of major Buddhist classics, so as to determine the generation and spread of important Buddhist factions; (3) Research on Toxophone Language-The early representative work "Parallel Versions of Toxophone Scripts of Prince Fuli" created a successful method for the semantic research of Toxophone Language. Since 1948, it has been translating and interpreting the Toxophone script "Meeting with Maitreya" collected in Xinjiang Museum, and in 1980, it has also published the newly discovered Toxophone language A "Meeting with Maitreya" in Turpan, Xinjiang in the 1970s. (4) Research on the history of cultural exchange between China and China-Issues on the time and place of’s paper and papermaking methods being imported into India, Preliminary Study on the issue of Indian silk being imported into India, etc.As well as the argument that some components of The Journey to the West originated from India, it shows that Chinese and Indian cultures "learn from each other, have their own innovations, interact with each other and penetrate each other"; (5) Research on the history of cultural exchanges between China and foreign countries-Edited Notes on the Western Regions of the Tang Dynasty and Modern Translation of the Western Regions of the Tang Dynasty in the 1980s, and wrote a Preface to the Notes of 100,000 words, which is an important achievement in the research of the history of the western regions in China for decades. The Sugar History completed in 1996 shows ancient China, India, Persia, Arabia, Egypt, Southeast Asia, and Europe and Europe. (6) Translation and introduction of Indian literary works and Indian literary studies-Ramayana is one of the two ancient epics, with more than 20,000 poems and more than 90,000 lines translated into Chinese. After 10 years of unremitting efforts, Ji Xianlin finally finished the translation, which is an unprecedented event in the history of translation in China; (7) Comparative Literature Research-In the early 1980s, he first advocated the restoration of comparative literature research and called for the establishment of the China School of Comparative Literature, which made great contributions to the revival of comparative literature in China; (8) The study of oriental culture began in the late 1980s, and it strongly advocated the study of oriental culture, and edited the large-scale cultural series "Integration of Oriental Culture", with more than 50O species and more than 8OO volumes, which is expected to be completed in 15 years; (9) Preserving and rescuing the ancient books and records of the motherland-in the 1990s, serving as the chief editor of two giant series, namely, "Sikuquanshu preserved catalogue series" and "handed down books"; (10) Prose creation-since I wrote prose at the age of 17, I have been writing for decades.There are more than 800,000 words. When celebrating Ji Xianlin’s 88th birthday, Zhong Jingwen said, "The highest realm of literature is simplicity, and Mr. Ji’s works have reached this realm. He is simple because he is sincere. " "I love my husband’s good writing, as an old saying goes."

　　Since the late 1980s, Ji Xianlin has put forward many personal opinions and judgments on important issues such as culture, China culture, East-West cultural system, East-West cultural exchange, and human culture in the 21st century, which has aroused widespread concern at home and abroad.

　　Note: Ji Xianlin: Winner of Lifetime Achievement Award in Translation Culture.

　　Introduction to awards

　　"Lifelong Achievement Award for Translation Culture" was established by the decision of the fifth executive meeting of the fifth session of translators association of china in 2006. This is the first award issued by translators association of china. This honorary award is not a permanent award. It is awarded to a living, influential and respected translator who has made outstanding achievements in translation and cultural communication. On September 26th, 2006, at the age of 95, Mr. Ji Xianlin became the first winner of the Lifetime Achievement Award of Translation Culture.

　　Ji Xianlin, born in August 1911, was born in Qingping County (now Linqing City). Famous linguist, translator, educator and social activist. In 1930, he joined the Department of Western Literature in Tsinghua University, majoring in English literature and studying German and French literature. At the same time, he took courses in the translation of Buddhist scriptures by Mr. Chen Yinque and the literary psychology of Mr. Zhu Guangqian, and devoted himself to the translation of foreign literary works and prose creation after school. In 1935, he was admitted to Tsinghua University as an exchange graduate student with Germany, and then he went to the University of G? ttingen in Germany to study Indian studies. In 1941, he received a doctorate in philosophy. He returned to China in 1946 and served as Professor Peking University, Head of the Department and Vice President of Peking University.

　　After the founding of the People’s Republic of China, Ji Xianlin was elected to the first Beijing Municipal People’s Congress, the second, third, fourth and fifth Chinese People’s Political Consultative Conference Committee members, and was elected to the Sixth National People’s Congress in 1983. Since the same year, he has served as the Standing Committee of the Sixth National People’s Congress and enjoyed a high social reputation. He has also served as a member of China Character Reform Committee, member of the State Council Academic Degrees Committee and head of foreign language and literature review group, president of Chinese Language Society, president of China Foreign Language Teaching Research Association, member of Department of Philosophy and Social Sciences of China Academy of Sciences, executive director of China Historical Society, director of Chinese Writers Association, vice president and honorary director of translators association of china, vice president of China Foreign Literature Society, president of South Asia Society of China, and president of Dunhuang Turpan Society of China. Honorary President of China National Ancient Characters Research Association, Honorary President of China Comparative Literature Society, Member of the Editorial Board of Encyclopedia of China, President of China Oriental Culture Research Association, Consultant of international confucian association, President of Asia-Africa Society, Honorary President of Macau Cultural Research Association, etc. He is one of the founders of translators association of china, and was elected honorary president of China Translation Association in November 2004 at the Fifth National Council Meeting of China Translation Association.

　　For decades, Ji Xianlin has worked hard in the research and translation of English, German, Sanskrit and other literary works, with nearly four million words published. His main works include Essays on the History of Sino-Indian Cultural Relations, A Brief History of India, A Preliminary Study of Ramayana, Essays on Ancient Indian Languages, Buddhism and Sino-Indian Cultural Exchanges, A Concise History of Oriental Literature, History of Sugar, Translation and Interpretation of Tuhuoluowen (Meeting with Maitreya) and so on. Main translations: On Indian by Marx, Collection of anna seghers’s Short Stories, etc. Translated from Sanskrit, there are the famous ancient Indian epic Ramayana (seven volumes), the famous Indian dramas Shagongdaro and Youliposhi, and the ancient Indian folk story collection Five Books, etc. Translated from English, such as "Tagore in the Family" by Matriere devi. In addition, Ji Xianlin has edited books such as Sikuquanshu Catalogue Series, Handed down Books, Integration of Chinese Culture, Integration of Oriental Culture, etc.

　　The main awards won are:

　　In 1986, the collection of essays on ancient Indian languages won the first scientific research achievement award in Peking University.

　　In 1987, the collection of essays "Language Problems of Primitive Buddhism" won the honorary award of outstanding achievements in philosophy and social sciences and policy research in Beijing.

　　In 1989, state language commission awarded the honorary certificate of "thirty years of language and writing work".

　　In 1990, the collection of essays on the history of Sino-Indian cultural relations won the "Honorary Award for Works" in the first national comparative literature book awards.

　　In 1992, the editor-in-chief of "Notes on the Records of the Western Regions of Datang" won the first national ancient books sorting book award.

　　In 1992, Sanskrit University in varanasi awarded the highest honor award "Certificate of Commendation".

　　In 1997, The History of Oriental Linguistics, the editor-in-chief, won the third National Book Award.

　　In 1997, The History of Indian Ancient Literature won the second prize of the national teaching achievement, and in 1999, it won the second prize of the excellent achievement prize of the National Social Science Foundation project.

　　In 1998, Tehran University awarded an honorary doctorate.

　　In 1999, The Collected Works of Ji Xianlin (24 volumes) won the 4th National Book Award.

　　In 2000, the monograph "The Track of Cultural Exchange-The History of Chinese Sugar" won the Yangtze River Reading Award "Expert Works Award".

　　In 2000, he obtained a gold certificate of doctoral degree from the University of G? ttingen, Germany.

　　On September 26th, 2006, Ji Xianlin was awarded the "Lifetime Achievement Award of Translation Culture" at the International Translation Day and Senior Translator Commendation Conference of China Translation Association. Mr. Ji Xianlin’s character was admired, not only because of his knowledge, but also because of his character. He said: Even in the most difficult times, he did not lose his conscience. His book is not only a portrayal of the old gentleman’s personal life, but also a reflection of the course of intellectuals in China in the past century. Ji Xianlin’s "Miscellaneous Notes on His Sick Bed" has been released recently. In the book, Mr. Ji Xianlin used insightful words to clarify for the first time what he thought of the three laurels "Master of Chinese Studies", "Academic Leader" and "National Treasure" that had been "added" to his head by the outside world in recent years. He said: "I was freed from the three laurels. The foam on my body was washed away, revealing my true face and everyone was happy. "

　　This newspaper specially extracts several paragraphs from Ji Lao’s words to see how the 97-year-old man treats the brilliant aura that covers his head-

　　■ The word "Master of Chinese Studies"

　　"Look around, my friend China is better than his own, and there are many people. Under such circumstances, I have monopolized the title of’ Master of Chinese Studies’, and I am not old! "

　　Now, in some more formal documents, there is also a brilliant aura of "master of Chinese studies" above my head. This is not out of thin air, which has a historical origin.

　　About ten or twenty years ago, China’s reform and opening up achieved great results and its economy developed rapidly. Cultural construction has also become active accordingly. Once, a meeting was held in the Peking University lecture hall, which has not been rebuilt, to talk about Chinese studies to the students. At that time, there were five professors sitting on the rostrum, and everyone gave a talk. I was ranked first, and now I have forgotten what I said. A senior reporter, an alumnus of Peking University, wrote a long article in the newspaper "The upsurge of Chinese studies quietly rises in Yanyuan". Since then, four of the professors, including me, have been called "masters of Chinese studies". All three of them have a much stronger foundation in Chinese studies than I do. I don’t know what they think of this laurel. I was crowned this laurel myself, but I got goose bumps all over.

　　Speaking of the basics of Chinese studies, I have been studying classics, ancient prose and poetry since primary school. I have dabbled in some important classic works. But I have never worked hard on any classic or writer, because I never wanted to be a sinologist. Later, he devoted himself to other academics and was immersed in them. Besides being able to recite hundreds of poems and dozens of ancient prose; Apart from being able to talk about some issues related to Chinese studies, such as the unity of man and nature, at the largest macro level, my knowledge of Chinese studies has not increased. Looking around, there are many friends who learn the basics of China better than themselves. Under such circumstances, I actually monopolize the title of "Master of Chinese Studies", so I’m not ashamed of my old age (to borrow the words of Peking Opera actresses)! I am not even a "master of Chinese studies", let alone a "master"!

　　To this end, I am here to tell the world: please take the crown of "master of Chinese studies" from my head.

　　■ Two words "academic masters"

　　"Such a person, gusher all over the world is also. However, now it happened that I was "beaten" into a master. Where do I start with this master? "

　　This should be divided into two levels: one is education and the other is humanities and social sciences.

　　First of all, we must figure out what "master" means. Thai, Taishan also; Fighter, Beidou also. Both are considered supreme things.

　　Just talk about education. I have been a teacher all my life, climbing grids. Teaching abroad for 10 years and at home for 57 years. People often say: "No credit, but also hard work." Especially in the past few decades, the general purpose of exercising every day and doing new things is to make you restless and nervous all the time. Under such circumstances, I have been working as an administrator, so it’s hard to make any achievements! Where do I start as a "master"?

　　It is not true that I have made great achievements in the research of humanities and social sciences. It is not true to say that I have no grades at all. Such people, talkative people are all over the world. However, now it happened that I was "beaten" into a master. Where do I start as a master?

　　To this end, I am here to tell the world: please take the crown of "academic (technical) master" from my head.

　　■ Three words "national treasure"

　　"Is it because China has only one Ji Xianlin, so he becomes a" treasure "? However, China’s Zhao Yiqian, Sun San and Li Si, and so on, all have only one. Can China have 1.3 billion’ national treasures’? "

　　In China, when it comes to "national treasure", people will immediately think of the cuddly giant panda that everyone loves. The number of this kind of animal is very small, and it is only found in China. It is called a "national treasure" and it is well deserved. However, about 80 or 90 years ago, at a meeting, a leader in Beijing suddenly called me a "national treasure", and I was extremely amazed. Today, wherever I go, the voice of "national treasure" is resounding. I’m really puzzled. Of course, the crown of "national treasure" is not monopolized by me alone. Several other famous painters and calligraphers also have this title.

　　I want to explore the origin of the name. Is it because there is only one Ji Xianlin in China that he becomes a "treasure"? However, China’s Zhao Yiqian, Sun San Li Si and so on, all have only one. Can China have 1.3 billion "national treasures"?

　　This kind of thing, wishful thinking is useless and completely unnecessary. I came to a screeching halt.

　　To this end, I am here to tell the world: please take the crown of "national treasure" from my head.

　　I won three laurels and gave me a freedom. The foam on my body was washed away, revealing my true colors, and everyone was happy.

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