标签： 贵族宝贝花千坊

Wen Miao Mirror Entertainment is written by Xiao Man and edited by Zhang Fengyi.

Experienced the epidemic in 2020, for any film and television company, it has experienced unprecedented difficulties.

After half a year’s closure, domestic cinemas ushered in a season of recovery, but the performance of the domestic film market, which has entered the Lunar New Year file cycle, is still tepid, and the daily box office remains at around 30 million.

Recently, the third quarter financial reports of 20 listed film and television companies have been disclosed. There were as many as 15 film and television companies that lost money in the first three quarters, of which WANDA CINEMAS lost as much as 2.015 billion, ranking first, while Huace Film and Television, which focuses on TV drama business, made a profit of 203 million yuan.

The fourth quarter and the Lunar New Year file are not only the last hope for companies to turn over their performance, but also the future and destiny of many film and television companies. If they lose money for two consecutive years, WANDA CINEMAS will be "ST" and Huayi Brothers will also face the risk of being delisted.

At this important schedule node, we don’t need to be "calm", but we are more eager to be "crowded".

According to the third quarterly report, WANDA CINEMAS achieved an operating income of 3.214 billion yuan and a net profit loss of 2.015 billion yuan in the first three quarters.

As WANDA CINEMAS suffered a huge loss of 4.729 billion yuan last year, it will be specially treated as a "ST share" according to the provisions of the Shenzhen Stock Exchange that "the net profit has been negative for two consecutive years". If Wanda can’t work miracles in the fourth quarter of this year, it may become a "ST WANDA CINEMAS".

At the critical moment, on the evening of November 9, WANDA CINEMAS released the Report on the Issuance of Non-public Offering of A Shares and the Listing Announcement, announcing that the total amount of funds raised reached 2.93 billion yuan, which was the first company in the film and television industry to complete the fixed increase this year and the largest fixed increase project in the history of A-share film and television industry.

The lock-up period of this fixed increase is 6 months, and Wanda will be used to build new cinemas, replenish the company’s working capital and repay funds. Affected by this news, it opened in the morning of November 10th, and WANDA CINEMAS once had a daily limit.

This year’s WANDA CINEMAS is a bad year, with few bright spots in the market business. The overseas cinema industry laid out many years ago has now become a huge drag.

In 2012, Wanda Group invested $2.6 billion to acquire 100% equity of AMC Entertainment, and WANDA CINEMAS became the largest cinema line operator in the world.

After many years, Wanda continued to adhere to the business philosophy of "Buy in buy buy". After successively acquiring cinemas such as Odeon, UCI and armike, AMC also became the largest cinema company in the United States.

When the epidemic struck, AMC’s once proud scale advantage suddenly became the company’s huge weakness.

At the beginning of this year, AMC announced the closure of 1,000 cinemas. Since then, it has fired a number of employees and launched a salary reduction plan for cinema executives. Even so, AMC has recently reported that funds are in a hurry. Some Wall Street analysts said that the bankruptcy of AMC is almost a foregone conclusion.

The situation in the American market is in dire straits, and domestic business is also difficult to do. Wanda currently has more than 600 cinemas in China. During the closure of the epidemic, the fixed costs of Wanda Studios such as depreciation, rent, employee compensation and financial expenses were high, which made its revenue performance suffer a great impact.

At the same time, in the film and television business sector, Wanda has not achieved outstanding results. Although there is a film jointly produced by The Sacrifice and WANDA CINEMAS, it is a drop in the bucket for WANDA CINEMAS, which suffered huge losses, given that the film has not reached the box office volume of 1 billion at present.

With Detective Chinatown 3’s announcement of the Spring Festival in 2021, it is almost announced that WANDA CINEMAS has completely abandoned this year’s film market.

In September, Wanda Film and Television Group released the annual film list for 2021-2022, and released more than 40 new film and television projects, such as Get My Brother Away 2, Searching for Dragons 2, Ghost Blowing the Lantern, Miskilling 2 and Seeing You, by Detective Chinatown 3 in one breath.

Wanda’s film and television business is betting on the next two years. This year’s Lunar New Year file has been abandoned. WANDA CINEMAS announced that its business will return to normal in the fourth quarter, but Wanda’s return to blood will be very limited in the case of a depressed market.

On August 21st, it was just one month since the cinema officially resumed work.

The Eight Hundred, which announced its withdrawal last year, was officially released on this day. In one fell swoop, the film broke the gloomy atmosphere of the market for a long time. At that time, under the condition of limiting the attendance rate by 30%, it eventually accumulated more than 3.1 billion and became the global box office champion in 2020.

The Eight Hundred not only boosted the confidence of the whole film market, but also gave Huayi Brothers in from the mire a shot in the arm.

As the first stock of film and television on the Growth Enterprise Market, Huayi Brothers lost 1.09 billion yuan and 3.96 billion yuan respectively in the past two years. If losses occur for three consecutive years, Huayi will also face the risk of delisting.

The crux of Huayi is not the continuous loss, but the lack of hope. After "Mobile Phone 2" and The Eight Hundred successively announced the withdrawal of files, Huayi’s hands are running out of cards. Tsui Hark’s "Four Kings of Di Renjie" was cold at the box office, while Xiaogang Feng’s Only Cloud Knows’s performance was mediocre, and the trump card was exhausted, but it still didn’t work, which made Huayi, who had been in the scenery, helpless and gradually marginalized.

Huayi Brothers’ third quarterly report shows that the company achieved operating income of 1.107 billion yuan, down 31.51% year-on-year, and net profit loss of 326 million yuan. It is worth mentioning that in the third quarter, Huayi achieved an operating income of 783 million yuan, up 45.02% year-on-year, which was mainly due to the nearly 600 million yuan of revenue from The Eight Hundred.

But at the same time, Huayi Brothers still suffered a loss of 94.563 million yuan in the third quarter, which was mainly affected by the non-recurring investment loss confirmed by the equity disposal of overseas joint venture company Brothers International LLC.

Looking at the performance in the first three quarters, Huayi’s main support point is still the film and television business, with revenue accounting for 89.88%. Brand authorization and live entertainment, which had made a high-profile March before, accounted for only 4.92%, and Internet entertainment accounted for 4.59%. However, in terms of film and television business, Huayi’s online dramas, such as Beggar with Nine Fingers, Kitchen with Fireworks, and Looking for Porcelain from Antique close encounter of mahjong, were all mediocre, which failed to cause market waves.

Obviously, there is only one The Eight Hundred, which can’t save Huayi, who is deeply mired in the mire.

Huayi also participated in the movie The Sacrifice, which, like Wanda, can bring very limited revenue. The Order to Serve the Gods produced by Huayi has been announced as the file for the Spring Festival in 2021. Since then, Lu Chuan’s "749 Bureau", Stephen Chow’s "Mermaid 2" and Xiaogang Feng’s "One Year in Spring" are all key projects of Huayi, and they can’t be missed.

In the past month, the share price of Light Media dropped from the highest of 16.66 yuan to 11.81 yuan, and its market value evaporated by about 14 billion yuan.

The data shows that the operating income of Light Media in the first three quarters was 481 million yuan, down 80.46% year-on-year; The net profit of returning to the mother was 63.7202 million yuan, down 94.26% year-on-year.

In the first three quarters of this year, the R&D expenses of Light Media increased by 61.16% compared with the same period of last year, and most of these funds were used in the animation production business of the company.

In 2015, Light established the striped house film industry, which specializes in the production of animated films. Ne Zha is the work that striped house has been pregnant for four years. The amazing box office of the film of 5.035 billion yuan made Light taste the sweetness for the first time, and it is reasonable for Light to continue to increase its animation business.

In 2012, "Sorry" made Light Media famous in World War I, and after many years of layout, Light finally ushered in a big explosion again, that is, the animated film Ne Zha released last summer.

As the box office in Ne Zha rises, the stock of Light Media also rises accordingly, even surpassing WANDA CINEMAS for a time, becoming the leader of film and television stocks. Until this year, the epidemic caused almost all major film companies to stop eating, but Light also made a small profit by developing derivatives of Nezha.

Because there are no heavy assets such as cinemas and cinemas, the light media, which travels lightly, can still make a small profit, although its revenue has fallen sharply. Ray’s revenue mainly comes from the movie Sheep Without A Shepherd, the derivative development of the movie Ne Zha in the first half of the year, and The Eight Hundred’s Buckwheat Grows Wild and My Girlfriend is a Robot, etc., which are all released by Ray’s participation or agency.

At the same time, the revenue of Legend of Deification, whose National Day box office exceeded 1.5 billion yuan, has not been included in the first three quarters, but according to the current market performance of Legend of Deification, the revenue that this film can bring to the light is about 400 million yuan.

At the end of Legend of Deification’s film, the light also released the eggs of the next film "Deep Sea". In addition, animated films such as "Big Fish Begonia 2" and "Journey to the West" are also ready to meet the audience.

In the three quarterly reports of film and television companies, Huace Film and Television has the most outstanding performance.

In the first three quarters, Huace achieved a total revenue of 1.894 billion yuan, up 44.60% year-on-year, and the net profit attributable to shareholders of listed companies was 203 million yuan, up 736.72% year-on-year.

As an old film and television company, Huace’s annual drama output ranks first in film and television companies for many years, and there are often explosions.

This year’s Huace has a costume romance drama "Beautiful South Song", an urban workplace drama "Ordinary Glory", and "In the Name of Family" with the theme of healing youth growth, with diverse types and good market response.

In terms of reserved projects to be broadcast, many plays, including "8090", "Dear, Beloved", "You are my city camp", "Mirror Twin Cities" and The Legend of Fei, have entered various platforms and TV programs.

In terms of movies, Huace film and television also has an important layout, not only participated in the recent popular movie The Sacrifice, but also the movie A Writer’s Odyssey, which is mainly directed by Huace, will be released in the Spring Festival next year.

In the context of the huge impact on the film market, Huace Film and Television, the main drama series, went upstream and handed over a stable answer sheet. Although this is not surprising, it is also a rare surprise.

After a huge loss of 2.306 billion yuan in 2019, Beijing culture was hit again in the first three quarters of 2020, and various businesses fell across the board.

The financial report shows that in the first three quarters of 2020, Beijing Culture realized an operating income of only RMB 13 million, a year-on-year decrease of 98.15%, and a net profit loss of RMB 117 million. At the same time of the decline in performance, the capital chain of Beijing Culture also tightened. The company’s asset-liability ratio rose from 24.22% in 2018 to 52.81% in the third quarter of this year.

Up to now, My People My Homeland, a film controlled by Beijing culture, has closed at the box office of 2.762 billion yuan, which is expected to turn the final performance of Beijing culture into a profit.

On the unilateral side of the film to be screened, Bath Buddy produced by Beiwen has announced the final file on December 11th, "Hello! Li Huanying is scheduled for the Spring Festival in 2021, and the series "Fengshen", with a total investment of nearly 3 billion, will also officially meet the audience next year.

Backed by the powerful background resources of Hunan Radio and Television, Mango Hypermedia often staged the magical drama of "making small and big".

According to the financial report, Mango Supermedia achieved operating income of 9.471 billion yuan in the first three quarters, up 15.05% year-on-year, and net profit attributable to shareholders of listed companies was 1.612 billion yuan, up 65.39% year-on-year.

The biggest advantage of mango hypermedia, which focuses on self-made content, lies in low-cost investment. No matter whether it is drama series or variety show, it can always harvest unexpected surprises. This year’s fire variety "Sister Riding the Wind and Waves" has helped the stock of Mango Hypermedia to soar to a new level with a market value of hundreds of billions. The next stop is happiness, in the name of my family, dear myself, glass and other dramas are also hot works with high topics, which has greatly increased the revenue of Mango TV.

Since then, Mango has also released a brand-new "Monsoon Plan" short theater in terms of incubating potential variety shows such as "Sister Braving the Wind and Waves 2" and "Brother with Thorns", and plans to build a total of ten short plays with 12 episodes per season.

In the first three quarters of 2020, Wentou Holdings achieved a revenue of 282 million yuan, a decrease of 80.64% compared with the same period of last year. The net loss attributable to shareholders of listed companies was 788 million yuan, and the net profit decreased by 1,860.57% year-on-year.

Wentou Holdings said in the third quarterly report that the company’s operating income in the first three quarters decreased by 80.64% year-on-year, mainly due to the impact of the COVID-19 epidemic, the cinema was suspended from late January to mid-July, resulting in a significant decrease in revenue during the reporting period compared with the same period last year.

By September 30, 2020, Hengdian film and television had a total of 70,300 screens in China. In the first three quarters, the total box office of China film market was 7.563 billion yuan, a decrease of 84.20% compared with the same period of last year, which made Hengdian film and television revenue drop sharply.

After the cinema resumed work, Hengdian Film and Television continued to increase the layout of the cinema industry. In the third quarter, 16 new cinemas were opened and 102 new screens were added. In the first three quarters of this year, Hengdian Film and Television achieved an operating income of 399 million yuan, a year-on-year decrease of 81.27%, and a net loss attributable to shareholders of listed companies was 368 million yuan.

Jinyi Film and Television, which also specializes in cinema, also suffered a decline in performance. In the first three quarters of 2020, its revenue was about 220 million yuan, down 85.90% year-on-year. The net loss was about 406 million yuan, a year-on-year decrease of 487.33%.

In the first three quarters, Ciwen Media’s main revenue items included Trident, Thunder in the Restarted Sea, Chance of Winning and The Voice of Chinese Dreams Our Songs. Due to poor market performance, its revenue dropped sharply.

Ciwen Media achieved operating income of 338 million yuan in the first three quarters, down 60.28% year-on-year. The net profit attributable to shareholders of listed companies was 18.2825 million yuan, compared with 89.8912 million yuan in the same period last year.

In the first three quarters, Hualu Baina achieved an operating income of 73.633 million yuan, a year-on-year decrease of 84.53%, and the net profit attributable to shareholders of listed companies was 35.0971 million yuan, a year-on-year decrease of 61.53%.

Regarding the reason for the decrease in operating income compared with the previous period, Hualu Baina said that it was mainly due to the delay in the project progress during the reporting period and the decrease in repertoire income compared with the same period of last year.

Huanrui Century’s revenue in the first three quarters of 2020 was only 17.19 million yuan, a year-on-year decrease of 87.49%; The net loss was about 148 million yuan, a year-on-year decrease of 2716.26%.

Huanrui Century said that the decrease in revenue was mainly due to the decrease in drama series of some broadcast projects and the impact of the project cycle. The company’s film and television drama sales revenue and artist brokerage income decreased significantly compared with the same period of last year.

In 2018, it lost 927 million yuan, and in 2019, it lost 1.007 billion yuan. If it can’t make a profit for three consecutive years, Tang De Film and Television will be in danger of being directly delisted. Nowadays, Tang De film and television, which is dragged down by Ba Qing Chuan, is exhausted. In the first three quarters, the operating income was 170 million yuan, and the net loss attributable to shareholders of listed companies was 83.7 million yuan.

In the first three quarters, Happiness Blue Sea Cucumber invested in works such as Stewed Sydney with Rock Sugar, Trident, Children in the Bay Area and Happiness Will Knock on the Door, but it is difficult to have a decisive impact on the company’s revenue. In the first three quarters of 2020, Happiness Blue Ocean realized a total operating income of 217 million yuan, a year-on-year decrease of 84.5%, and the net profit attributable to shareholders of listed companies was a loss of 275 million yuan, a year-on-year decrease of 673.66%.

Since the cinema officially resumed work, the film and television market has shown obvious signs of recovery, and explosive works have appeared from big screen to small screen. As the first important financial report after the cinema resumed work, the third quarterly report of the film and television company has a very important weathervane significance for the current market performance and future trend.

Judging from the overall financial report, film and television companies are basically in the post-traumatic recovery period. If film and television companies in the post-cold winter era want to get back on track, it is essential to continuously output high-quality works. Whether it is to boost theater attendance or create topics to boost revenue, the principle of "content is king" will not change.

If winter comes, can spring be far behind? After the most difficult period, the next performance of the film and television market is worth looking forward to.

　　Recently, people who can’t eat because of illness and fever abound. What should I do in this situation? Do you want to avoid all kinds of high protein food? Today, let’s talk about fever and nutrition.

　　Why don’t doctors let some patients with fever eat more high protein foods?

　　In fact, this proposal is not completely unreasonable.

　　First of all, eating too much food in protein may lead to an increase in body heat dissipation and an increase in inflammatory reaction, and doctors may be worried that it will affect their health. For example, some children will become more inflamed after eating beef and mutton.

　　Secondly, when the patient has a high fever, his appetite is poor and his digestion and absorption ability is reduced. Compared with soft starchy foods, large pieces of beef, whole boiled eggs and other foods are much more difficult to digest. They need more stomach acid, more protease and more bile to help them.

　　Thirdly, food intolerance and other adverse reactions are more likely to occur in the disease state. When you have a fever, not only does the body’s digestion and absorption ability decrease, but the intestine may also be inflamed, the barrier function decreases, and the microbial balance is disordered. Some undigested products enter the body, which may lead to adverse reactions.

　　For example, some foods are fine when eaten at ordinary times, and they will be uncomfortable when they are sick. For another example, some children are sensitive to high-quality protein foods such as chicken, eggs and milk when they have a fever, and cough after eating them, or the sputum in their throats will increase and they will gasp after eating them, and so on.

　　Folk say that "fish makes fire and meat produces phlegm" can probably be explained by these reasons, but these adverse reactions are not limited to animal food. If you eat dried nuts, fried peanuts, potato chips, fried beans and other indigestible plant foods, you may also have adverse reactions.

　　Therefore, it is generally correct to give priority to digestible starchy foods when you have a fever and loss of appetite.

　　However, it should also be noted that, on the other hand, being hungry for several days in a row is not conducive to physical recovery. Especially at present, it is also a very nutritious thing to continue the war with mycoplasma virus and various bacteria. If you really can’t eat for two or three days or even longer, just drink some soup, or eat too little although you eat some rice, it will hinder your recovery.

　　What do fever patients need to supplement in their diet?

　　What to eat depends mainly on the patient’s appetite. On the premise that the food is fresh and nutritious, if they really want to eat it, they don’t have to stop it deliberately. If you don’t want to eat, you should find ways to supplement energy, protein and multivitamins.

　　1. Eat as much staple food as possible.

　　Staple food is the main source of energy. If you don’t eat enough staple food, even if protein eats enough, it will be regarded as a waste of heat and won’t really make up for the body. If you can’t eat rice and steamed bread, you can also eat thick rice porridge, soft noodle soup, mashed potatoes, yam paste, etc. You might as well eat it several times a day. At this time, as long as it is easy to digest food and the patient can eat it, you can try it.

　　2. Add diversified ingredients to the staple food within the range acceptable to patients.

　　Such as vegetables, fruits, milk and bean products. If you can’t eat fruits and vegetables directly, you can steam them, stew them soft, cut them into pieces, and press them into mud. You can chop up the leaves and cook them in soft soup or porridge.

　　3. protein food should be supplemented step by step.

　　When you lose your appetite, don’t directly give large pieces of meat, whole boiled eggs, scrambled eggs, etc. For example, eggs can be made into egg flowers or custard first, meat can be chopped into minced meat, and it can also be stewed in a pressure cooker or electric cooker. If you really don’t want to eat meat, you can drink the oil-free broth first, and then try to add the stewed minced meat to porridge and noodle soup.

　　According to the patient’s appetite, from less to more, slowly increase protein food, and gradually increase the variety. It is not too late to eat "hard dishes" until your appetite is better and your digestion ability is stronger.

　　4. If the food intake continues to be seriously insufficient, some nutritious products can be supplemented.

　　Including protein powder products. These products can be added to porridge, yam paste and lotus root paste to make semi-liquid food. In the case of indigestion, you can also consult professionals to use products that help digestion and benefit the gastrointestinal tract, such as compound digestive enzyme products and probiotic products.

　　5. Appropriate vitamin supplementation

　　The consumption of vitamins increases in the process of fever, which can supplement vitamins C and B, as well as vitamins A and D. In the process of disease stress and inflammatory reaction, the consumption of vitamin C will increase; When you have a fever, the metabolic rate is accelerated, the energy consumption is increased, and the demand for B vitamins will also increase.

　　In addition, vitamin D is also very important for normal disease resistance, and vitamin A is not only necessary for anti-inflammatory reaction, but also essential for the repair of respiratory tissue injury. Patients may feel uncomfortable after taking large compound nutrient pills, so they can use small tablets and capsules, as well as powdered nutritional supplements.

　　6. Stay away from foods with low nutritional value, indigestion, allergies and intolerance.

　　For example, it is necessary to avoid fried, fried and smoked foods, too hard foods and processed foods with high sugar and oil. Foods that are easily allergic or intolerant should also be avoided.

　　7. Seasoning is not greasy or irritating, but attention should be paid to promoting appetite

　　As long as the blood pressure is basically normal, there is nothing wrong with adding a little salt, chicken essence and monosodium glutamate at this time. Because after a fever and sweating, it is necessary to supplement electrolytes such as sodium salts and amino acids. Appropriate addition of sodium salt is beneficial to the production of gastric acid; Adding umami amino acids can increase the motivation of intestinal cells and increase the appetite of patients.

　　Several delicious and digestible semi-liquid recipes

　　If your family has a poor appetite and can’t figure out what to eat at the moment, here are some semi-liquid food choices that are easy to digest and delicious for your reference:

　　1. Naixiang Yam Mud

　　Steaming soft yam, grinding into mud, and adding milk powder to make milky yam mud. You can try soy milk powder if you can’t eat milk powder. If you don’t have yam, you can also try mashed potatoes. If you want to eat salty, add a little salt or chicken essence and a few drops of sesame oil to make salted mashed potatoes.

　　2. Yogurt lotus root starch is soft and frozen

　　Lotus root starch washed with hot water, mixed with cold yogurt, and stirred into a semi-frozen state. Nutritional supplements such as total nutritional powder can also be added. If it is only lotus root starch itself, the nutritional value is too low.

　　3. Yogurt mash soup

　　Mix the hot mash into the cold yogurt and stir well to warm the yogurt.

　　4. Fried rice in egg congee

　　Some areas have the habit of eating fried rice. You can cook porridge with fried brown rice, add a little salt, add a little egg liquid, and stir it into fine egg flowers.

　　5. Green vegetables, tofu pudding and millet porridge

　　Add half a spoonful of sesame oil to the soft boiled millet porridge, cut one into finely chopped vegetables, add two spoonfuls of smashed lactone tofu, cook together for a few minutes, and finally add some salt and chicken essence.

　　6. Soft noodles with chopped green vegetables, chicken soup and egg flowers

　　People who like to eat pasta can use degreased chicken soup, add fine noodles, cook into soft hot soup noodles, and add egg flowers and chopped vegetables.

　　7. winter melon soup, chopped green vegetables and wonton

　　Use degreased chicken soup, add thin slices of wax gourd and cook for a few minutes, add small wonton with thin skin and chopped green vegetables and cook until soft.

　　8. Hawthorn jujube apple pear soup

　　A few slices of dried hawthorn or two hawthorns, a few dates with stones removed, an apple with stones removed and diced, a pear with stones removed and diced, add half a bowl of water, and cook them in a pressure cooker with a quick porridge cooking procedure. Or put the lid on the electric cooker and simmer. Less water, less sugar, let the water in the fruit seep out and become soup.

　　Text/Fan Zhihong (director of China Nutrition Society, chief expert of science communication hired by China Association for Science and Technology)

[car home Jiaxing Preferential Promotion Channel] At present, large-scale preferential activities are being carried out in Jiaxing area. The maximum discount amount reached 148,900 yuan, and the minimum starting price was only 313,900 yuan. If you are interested in this model, you may wish to click "Check the car price" in the quotation form to get a higher discount.

BMW i4 adopts a unique front face design, and the iconic kidney-shaped air intake grille is particularly eye-catching. The air intake grille is mainly closed design, which emphasizes its electric identity. The body lines are smooth, and the overall style is dynamic and futuristic, showing the high-end and sporty atmosphere of the BMW brand.

BMW i4 has elegant body lines, with a body size of 4785*1852*1455mm and a wheelbase of 2856mm, providing spacious and comfortable seating space for passengers. The front and rear wheel tracks are 1601mm and 1630mm respectively, which ensures the stability and handling of the vehicle. In addition, it is equipped with 245/45 R18 front tires and 255/45 R18 rear tires, and with dynamic rim design, it further enhances the sense of movement and driving experience of the vehicle.

The interior design of BMW i4 combines modern technology with luxurious texture. The center console is equipped with a 14.9-inch high-definition touch screen and the built-in iDrive 8.0 system, which supports voice recognition to control multimedia, navigation, telephone and air conditioning, greatly improving the driving experience. The steering wheel is made of high-grade leather, which provides manual up-and-down and forward-and-backward adjustment functions to ensure that the driver finds the best grip position. In addition, the car is equipped with a variety of multimedia and charging interfaces, including USB and Type-C interfaces, to meet the charging needs of different devices. In terms of seats, BMW i4 provides a variety of material choices, including imitation leather, genuine leather and leather /Alcantara mix and match. The main and auxiliary seats support multi-directional adjustment and heating functions, while the rear seats support proportional tilting, which improves the ride comfort and space flexibility.

The engine of BMW i4 has a strong output, with a maximum power of 210kW and a maximum torque of 400 Nm, which provides excellent acceleration performance and power performance for the vehicle.

It is said that the BMW i4 has excellent sound insulation effect, abundant power, and the design is very king-like, especially the volcanic red interior. He thinks that it is not even inferior to Mercedes-Benz’s sister.

　　Huawei’s Mate XT Extraordinary Master and Apple’s iPhone 16 series mobile phones were also officially launched on September 20 after the new product launch conference was held at the same time.

　　After the official launch on September 20th, Huawei Mate XT Extraordinary Master Series, the world’s first three-fold screen mobile phone, snapped up direct "second light" online. It is understood that the official stores of Huawei Mate XT Extraordinary Masters are currently out of stock, and some third-party stores need to increase their prices even if they have goods, such as the 16GB+512GB (Ruihong) model. The price of Huawei Mall is 21999 yuan, and the price of the same mobile phone in the third-party stores of JD.COM Mall is 36999 yuan, which is 68% higher than the official price.

　　Similarly, the newly-launched Apple iPhone 16 series phones are also queued in Apple stores, but most of Apple’s flagship stores in JD.COM are sold in stock. For the hot-selling phenomenon of Huawei Mate XT extraordinary master series and Apple iPhone 16 series mobile phones, some institutions believe that it will have a positive incitement to the development of Huawei’s industrial chain and Apple’s industrial chain.

　　Huawei and Apple Promote Iteration of Mobile Phone Technology

　　Three-fold screen, Apple intelligent system comes out

　　Huawei Mate XT is the world’s first three-fold screen mobile phone, while Apple iPhone 16 series mobile phones are integrated into its own AI technology system-Apple Intelligence.

　　IPhone 16 is Apple’s first smartphone built around AI. In the autumn conference of Apple with the theme of "highlight moment", Apple released the iPhone 16 series and iPhone 16 Pro series, and also released new wearable devices such as AirPods 4 and Apple Watch Series 10. In terms of chips of iPhone 16 series and iPhone 16 Pro series, the standard version of iPhone 16 is equipped with A18 chip, and the flagship model of iPhone 16 Pro/Pro Max is equipped with A18 Pro chip. A18/A18 Pro bionic chip adopts the world’s first batch of second-generation 3nm process, and the transistor is smaller, faster and more energy efficient. Adopt the latest Armv9 instruction set architecture, equipped with 6-core CPU(2 performance cores +4 energy efficiency cores); There is also a 16-core neural network engine optimized for running large generative AI models. Compared with A16 bionic chip used in iPhone 15, the new neural engine machine learning speed is up to 2 times.

　　According to Sribalan Santhanam, vice president of Apple’s silicon engineering team, the CPU of A18 Pro is "the fastest CPU in today’s smart phones", which has a larger cache than A18, saves more power in handling complex tasks, and has a new generation of machine learning accelerator built in, which can help drive Apple Intelligence. The difference between A18 Pro and A18 is also reflected in the number of GPU cores. Among them, A18 Pro is equipped with 6-core GPU and A18 is equipped with 5-core GPU.

　　At the Apple conference, the demonstration of Apple Intelligence was the highlight, and Apple Intelligence has always been regarded as a milestone in the development of end-side AI. In the demonstration, Apple Smart can help users to generate emoticons and generate summaries for emails, messages and notifications, but the Apple Smart function failed to be installed in the iPhone 16/iPhone 16 Pro series mobile phones at the first time. It is understood that Apple Smart is expected to launch a beta version of English in the US market in October, and the China market will be launched in 2025. In the official version of iOS 18 pushed by Apple to iPhone users on September 17, Apple’s smart related functions did not appear.

　　In terms of price, the price of iPhone 16 equipped with A18 is 5999 yuan, and the price of iPhone 16 Plus is 6999 yuan. The iPhone 16 Pro equipped with A18 Pro starts at 7999 yuan, and the iPhone 16 Pro Max starts at 9999 yuan.

　　On the same day that Apple held a new product launch conference, Huawei saw the extraordinary brand ceremony and HarmonyOS Zhixing held a new product launch conference in Shenzhen. At this conference, Huawei officially launched the world’s first mass-produced three-folding-screen mobile phone Mate XT extraordinary master, and at the same time launched new products such as the M9 five-seat model and the first smart coupe SUV Zhijie R7.

　　According to the introduction of Huawei Mall, the extraordinary master of Huawei Mate XT has achieved many technological breakthroughs, such as Huawei Tiangong Hinge System, which has achieved internal and external bending for the first time, and at the same time relied on unique innovative technology to achieve slimness of the whole machine. For another example, the screen of this product adopts laminated design and uses the industry’s largest ultra-thin flexible glass (UTG), which has strong impact resistance. From the user’s point of view, Huawei Mate XT extraordinary master can provide a better office and entertainment experience, such as providing AI empowerment for users’ work and study through the Pangu model, and opening up the boundaries between mobile phones and computers.

　　At the new product launch conference, Yu Chengdong, managing director of Huawei and chairman of BG, said that behind the launch of the three-folding-screen mobile phone was Huawei’s continuous in-depth research and development in the fields of imaging technology, folding hinge and basic material science. This mobile phone realized the industry-leading technologies such as a new generation of double-rotating water drop hinge, ultra-reliable Kunlun glass and non-Newtonian fluid inner screen.

　　Regarding the release of Mate XT, Liu Xingliang, an expert from the Ministry of Industry and Information Technology, said that this marks another major breakthrough in folding screen technology of Huawei, a microcosm of Huawei’s technological innovation and a new starting point for the development of the entire smartphone supply chain.

　　According to the information of Huawei Mall, Huawei Mate XT Master currently has two colors and three versions, namely 16GB+256GB, 16GB+512GB and 16GB+1TB, and the prices are 19999 yuan, 21999 yuan and 23999 yuan respectively. Before Huawei released the mobile phone, the number of reservations in Huawei Mall exceeded 3.4 million, and before the official launch on September 20, the number of reservations had exceeded 6.85 million. After the official sale, Huawei Mate XT extraordinary master series mobile phones are sold online every day, that is, every second, and they are out of stock.

　　Many organizations expect that the launch of new products from Apple and Huawei will promote the arrival of mobile phone replacement, and also bring new development opportunities to related supply chains.

　　Apple’s mobile phone "super cycle" is difficult to reproduce.

　　Yongxing Securities pointed out in the newly released research report that "the extraordinary master of Mate XT launched by Huawei and related industrial chains are expected to continue to benefit. Mate XT’s unique design includes two hinges, one folding inward and the other folding outward, enabling the device to form a zigzag fold. When fully unfolded, it will show a 10.2-inch OLED display with a resolution of 2232×3184 and an aspect ratio of 16:11. We believe that with the release of new folding screen mobile phones, relevant industrial chains are expected to continue to benefit. TechInsights predicts that the global shipment of iPhone 16 series will reach 73 million units in 2024, and related industrial chains are expected to continue to benefit. The iPhone 16 Pro Max is expected to become the highest-selling model of the iPhone 16 series, accounting for 35% of the total sales. We believe that Apple’s press conference may promote the process of user replacement, and related industrial chains are expected to continue to benefit. "

　　According to the data of iResearch, in the folding screen mobile phone market in the first half of the year, Huawei occupied 42% of the market share, while in the ultra-high-end market of more than 10,000 yuan, Huawei’s market share reached 67%. According to IDC’s forecast, in 2024, the China folding screen mobile phone market shipped about 10.68 million units, a year-on-year increase of 52.4%; By 2028, the shipment of folding screen mobile phones in China will exceed 17 million units, with a five-year compound growth rate of 19.8%. IDC predicts that China’s folding screen mobile phone market will occupy about 40% of the global market share for a long time.

　　In terms of Apple, there have been two rounds of "supercycle" in Apple’s history, one was caused by the iPhone 6 series and the other was caused by the iPhone 12 series. The former met the needs of Apple users for large-screen mobile phones, while the latter was based on 5G connection and all OLED displays. Take the iPhone 12 series as an example. The product series was released in October 2020, and by April of the following year, the sales volume of the whole series of mobile phones exceeded 100 million.

　　However, although the newly released iPhone 16 series this year includes a number of innovative technologies including Apple Intelligence, the newly released report of market research organization Counterpoint Research believes that Apple’s intelligent function has limited boosting effect on iPhone 16 sales, so it is unlikely that there will be a sales "supercycle" this year. The report predicts that there will be no sales blowout in the short term.

　　Multi-folding screen and apple industry chain viewed by institutions

　　In the secondary market, institutions have looked at the multi-fold screen industry chain and the Apple industry chain.

　　For example, Yongxing Securities believes that the folding screen benefits from the release of the new Android machine, and it is recommended to pay attention to (), (), Tonglian Precision, (), (), (); In terms of Apple’s industrial chain, thanks to the release of the new iPhone, it is suggested to pay attention to (), (), (), () and so on.

　　From the perspective of consumer electronics industry chain, Haitong Securities is actively optimistic about consumer electronics materials and consumer electronics components & assembly and other sub-industries. In the recent research report, it believes that in terms of consumer electronic materials, it is recommended to pay attention to (), (), () and Shihua Technology; In terms of consumer electronic components & assembly, it is recommended to pay attention to (), Luxshare, (), Lingyizhi, Lansi Technology, (), Pengding Holdings, (), (), Changxin Technology, Shunyu Optical Technology (Hong Kong stocks), Gaowei Electronics (Hong Kong stocks), Dongshan Precision, (), () and ().

　　Take Dongshan Precision recommended by Yongxing Securities and Haitong Securities as an example. Some investors asked the company in Shenzhen Stock Exchange: "Huawei Extraordinary Masters released more than 3 million reservations, and Apple released 16 with its own AI function. It is expected that the replacement boom will come soon. Will your PCB orders increase?" On September 12th, the company replied, "The company’s electronic circuit sector mainly serves customers in consumer electronics, new energy vehicles, servers, industrial control, communication equipment, medical care and other industries, while paying attention to the application of new technologies and new products, attaching importance to R&D, innovation and product upgrading, and striving to enhance the company’s market position and core competitiveness."

　　In the secondary market, the Apple Index rose by 0.22% from September 10 to September 24, and the interval showed that it first fell and then rose. Among the 50 constituent stocks, there are 7 companies whose share prices have increased by more than 5%, among which the market value of Industrial Fulian and Luxshare exceeds 100 billion yuan (see attached table).

　　Attached Table Companies with Top Recent Increases in the Share Price of Apple Index Components

　　It should be pointed out that,LuxshareThe reason for the stock price surge may not only be related toappleThe new machine is released. Orient securities summarized in three aspects in his recent research report.LuxshareAdvantages: First, precision manufacturing.platformB-type leading benchmark, with broad prospects for diversified business layout; Second, the innovation cycle of AI empowering major customers in North America has started, and the consumer electronics business is in the ascendant; Third, "communication.+"Automobile" opens the second growth curve, accumulating deep card positions and making a clear and rapid start.

　　Zhou Qi, reporter of China Economic Weekly

　　Tencent sued Laoganma incident again waves.

　　On July 1, the Shuanglong Branch of the Guiyang Public Security Bureau issued a notice saying that after preliminary investigation, three suspects had pretended to be Laoganma staff to sign a cooperation agreement with Tencent in order to obtain the online game gift package code presented by Tencent in the promotion activities. The suspected crime has been criminally detained.

　　Previously, in the case of Tencent v. Laoganma Service Contract Dispute, the People’s Court of Nanshan District, Shenzhen, Guangdong ruled to seize and freeze Laoganma’s 16.24 million yuan property, which triggered heated discussions among netizens.

　　Now, the announcement of the Guizhou police confirmed that Tencent was indeed "deceived". What should be done with the ruling of the Nanshan District Court? Why did the Nanshan District Court fail to identify that the contract was forged? Has Tencent really never lost a lawsuit in the Nanshan District Court?

　　If the case is a criminal case, the court shall refer it to the public security organ

　　The documents of China Judgment Document Network show that the plaintiff Tencent filed a property preservation application with the Shenzhen Nanshan District Court, requesting the seizure and freezing of the defendants Guiyang Nanming Laoganma Flavor Food Sales Co., Ltd. and Guiyang Nanming Laoganma Flavor Food Co., Ltd. with a value of RMB 16.24 million yuan., Xinjiang Qianhai United Property Insurance Co., Ltd. Shenzhen Branch and PICC Property Insurance Shenzhen Branch provided credit guarantee for the property insurance in this case.

　　The People’s Court of Nanshan District, Shenzhen, Guangdong held that the plaintiff’s application complied with the law, and ruled to seal up and freeze the bank deposits worth 16.24 million yuan under the names of the defendants Guiyang Nanming Laoganma Flavor Food Sales Co., Ltd., Guiyang Nanming Laoganma Flavor Food Co., Ltd., or seal up or seize other property of equivalent value.

　　Zhang Zhengxin, a lawyer at Beijing Yingke (Tianjin) Law Firm, introduced that the civil ruling of the Nanshan District People’s Court ruling to preserve the property 16.24 million Laoganma Company does not mean that Tencent has won the case. Property preservation ruling and case victory are two different things. As long as the application for property preservation has a certain factual basis and provides guarantee, the court must make a timely ruling. Tencent has submitted the corresponding guarantee, and it is understandable that the Nanshan court has made a preservation ruling.

　　The first paragraph of Article 100 of the Civil Procedure Law stipulates that: In cases where the execution of the judgment may be difficult or cause other damage to the party due to the actions of one of the parties or other reasons, the people’s court may, upon the application of the other party, order the party to preserve his property, order him to perform certain acts or prohibit him from performing certain acts. The third paragraph stipulates: After the people’s court accepts the application, if the situation is urgent, it must make a ruling within 48 hours; if the ruling is to take preservation measures, it shall begin to execute it immediately.

　　Zhang Zhengxin believes that Tencent’s application to preserve the property of Lao Ganma worth more than 10 million yuan and the guarantee provided are urgent, so the Nanshan District People’s Court must make a timely ruling.

　　So, after the Guizhou police intervened and filed an investigation, is the ruling made by the Nanshan court still valid?

　　According to Zhang Zhengxin, Article 11 of the Supreme People’s Court’s Provisions on Several Issues Involving Suspicions of Economic Crimes in the Trial of Economic Dispute Cases stipulates that: If a case accepted by a people’s court as an economic dispute is not an economic dispute case and is suspected of economic crimes after trial, it shall rule to dismiss the prosecution and transfer the relevant materials to the public security organ or the procuratorial organ. "That is to say, if Laoganma successfully reports a criminal case, and the economic dispute is indeed a criminal case, the Nanshan court shall rule to reject Tencent’s lawsuit and transfer the relevant materials to the public security organ."

　　"It is estimated that Tencent will withdraw the case unless there are other details in the case. Because of the criminal investigation stage, many issues are still unclear. For example, whether these three people were originally employees of Lao Ganma, and they had come to represent Lao Ganma and Tencent before. If Tencent knew that they had been deceived before, it would definitely not sue. The follow-up will definitely be from the scammers," Zhang Zhengxin told China Economic Weekly.

　　Although Tencent’s winning rate is high, it has also passed through Maicheng

　　Previously, because Tencent repeatedly sued and won in the Nanshan court, it was jokingly called "Nanshan Pizza Hut" by netizens.

　　The China Economic Weekly reporter inquired about the China Judgment Document Network, and the results showed that among the cases officially decided by the Nanshan District Court, there were 4,533 cases related to Tencent Computer Systems Co., Ltd. Random browsing by China Economic Weekly found that many cases in which Tencent was the defendant, and the plaintiff eventually withdrew the case.

　　For example, in the top 10 search results, eight of the defendants were Tencent Computer Systems Co., Ltd., and the plaintiffs all applied for withdrawal, and the court ruled that the withdrawal complied with the regulations.

　　Tencent Technology, which often appears in the original/dock together with Tencent Computer Systems Co., Ltd., is more representative.

　　According to the reporter’s incomplete statistics, China Judgment Document Network has included 61 cases in which Tencent Technology has been the original/defendant of the Nanshan District Court since 2016. Among them, Tencent Technology has been the plaintiff in 55 cases and the defendant in 6 cases. Tencent Technology has basically won the case. In addition, there are 397 rulings related to Tencent Technology in the Nanshan District Court.

　　According to China Judgment Document Network, in the case where Tencent Technology and Tencent Computer Systems Co., Ltd. are the plaintiffs, there are many well-known companies such as Panda Entertainment, Hero Entertainment, and Ali Merchandise. Among them, Tencent and Ali have the largest number of cases over music copyright disputes, involving the largest amount. According to preliminary statistics, since 2016, Tencent Technology and Tencent Computer Systems Co., Ltd. have sued Ali Merchandise in Nanshan Court in no less than 18 cases, and the court has ruled that Ali Merchandise should pay compensation of not less than 2363.1 million yuan.

　　However, while Tencent’s legal team is powerful, there are times when it loses out.

　　In February 2019, the IT Home website published an article "Doing Social, Tencent Forced". Tencent believed that many of the contents of this article constituted slander, and then sued the Qingdao Intermediate People’s Court, requesting that IT Home publish an apology statement on its registered or operated IT Home and other media channels for 30 days, compensating Tencent for its economic losses and reasonable expenses totaling 3 million yuan.

　　After losing the case by the Qingdao Intermediate People’s Court, IT Home appealed to the Shandong Provincial Higher People’s Court. The Shandong Provincial Higher People’s Court held that IT Home’s comments were based on relevant reports by authoritative media, did not fabricate or disseminate misinformation and misleading information, and only made legitimate comments on Tencent’s business practices. Although some words were too sharp, they still belonged to the scope of comments and would not mislead the public. On May 14, 2020, the Shandong Provincial Higher People’s Court finally revoked the first-instance judgment and rejected Tencent’s lawsuit.

　　Regarding Tencent’s title of "Nanshan Pizza Hut", Zhang Zhengxin believes that any case has the possibility of losing, even the lawsuit filed by Tencent in the Nanshan court cannot reach 100% victory. The court must make a judgment based on facts and take the law as the criterion.